MONROE COUNTY FLORIDA COMPREHENSIVE ANNUAL...G49 G50 G51 G52 G53 G54 G55 G56 G57 G58 G59 G60 G61 G62 G63 G64 G65 G66 G67 G68 G69 Sheriffs Federal Forfeiture Schedules of Revenues Expenditures

MONROE COUNTY FLORIDA

COMPREHENSIVE ANNUAL

FINANCIAL REPORTFOR THE FISCAL YEAR ENDED

SEPTEMBER 30 2006

DANNY L KOLHAGE

CLERK OF THE CIRCUIT COURT

PREPARED BY

CLERK OF THE CIRCUIT COURT FINANCE DEPARTMENT

SANDRA CARLILE

FINANCE DIRECTOR

MONROE COUNTY FLORIDACOMPREHENSIVE ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED SEPTEMBER 30 2006

PAGE

INTRODUCTORY SECTION

Transmittal Letter of the Clerk of the Circuit CourtCertificate of Achievement for Excellence in Financial ReportingList of Elected and Appointed Officials

Organizational Chart

A1 A5

A6

A7

A8

FINANCIAL SECTION

Independent Auditors Report B1 B2

Management s Discussion and Analysis C1 C12

Basic Financial Statements

Government Wide Financial StatementsStatement of Net AssetsStatement of Activities

Fund Financial StatementsBalance Sheet Governmental FundsReconciliation of the Balance Sheet of Governmental Funds to the

Statement of Net AssetsStatement of Revenues Expenditures and Changes in Fund Balances

Governmental FundsReconciliation of the Statement of Revenues Expenditures and Changes in

Fund Balances of Governmental Funds to the Statement of ActivitiesStatement of Revenues Expenditures and Changes in Fund Balances Budget and Actual

Major Governmental FundsGeneral FundFine and Forfeiture FundRoad and Bridge Fund

Governmental Grants FundHIDTA Grants Fund

Statement of Net Assets Proprietary FundsStatement of Revenues Expenses and Changes in Fund Net Assets

Proprietary FundsStatement of Cash Flows Proprietary FundsStatement of Fiduciary Net Assets Fiduciary FundsStatement of Changes in Fiduciary Net Assets Fiduciary Funds

Notes to the Financial Statements

Combining and Individual Fund Statements and SchedulesCombining Balance Sheet NonMajor Governmental FundsCombining Statement of Revenues Expenditures and Changes in Fund

Balances NonMajor Governmental Funds

D1 D2

D3 D4

E1 E2

E3

E4 E5

E6

E7 E12E12 E13

E15

E16 E18

E19E20 E23E24 E25

E26 E29E30

E31

F1 F32

G1 G12

G13 G24


COMPREHENSIVE ANNUAL FINANCIAL REPORTFOR THE FISCAL YEAR ENDED SEPTEMBER 30 2006

Schedules of Revenues Expenditures and Changes in Fund Balances Budget and ActuSpecial Revenue Funds

Affordable Housing ProgramsLaw LibraryTourist Development All Districts Two CentTourist Development Administrative and Promotional Two CentTourist Development District One Three CentTourist Development District Two Three CentTourist Development District Three Three CentTourist Development District Four Three CentTourist Development District Five Three Cent

Impact Fees RoadwaysImpact Fees Parks and Recreation

Impact Fees Libraries

Impact Fees Solid Waste

Impact Fees Police Facilities

Impact Fees Fire and EMS

Employee Fair Share HousingFire and Ambulance District 1 Lower and Middle KeysUpper Keys Health Care Special Taxing DistrictFire and Ambulance District 6 Key LargoUnincorporated Area Service District Parks and Recreation

Unincorporated Area Service District Planning Building and ZoningLocal Housing Assistance

Municipal Policing911 Enhancement FeesDuck Key Security District

Boating ImprovementMiscellaneous Special RevenueEnvironmental RestorationLaw Enforcement TrustCourt Facility Fees

Drug Abuse Trust

Marathon Municipal Service Taxing UnitConch Key Municipal Service Taxing Unit

Bay Point Municipal Service Taxing Unit

Big Coppitt Municipal Service Taxing Unit

Key Largo Municipal Service Taxing UnitComprehensive Plan Land AuthoritySheriffs Inmate CommissarySheriffs Impact SupportSheriffs Off DutySheriffs Grants

Sheriffs South Florida Law Enforcement TrustSheriffs Shared Asset Forfeiture

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G25G26

G27

G28

G29G30

G31

G32

G33

G34

G35G36

G37

G38G39

G40

G41G42

G43

G44G45 G46

G47

G48

G49G50

G51G52 G53

G54G55

G56

G57

G58G59

G60

G61G62

G63G64

G65G66

G67G68

G69

Sheriffs Federal Forfeiture

Schedules of Revenues Expenditures and Changes in Fund Balances Budget and ActualSpecial Revenue Funds continued

Sheriffs HIDTA AdministrationSheriffs Airport ServicesSheriffs Fine and ForfeitureClerk s Modernization TrustClerk s Court Related

Debt Service Funds

Infrastructure Sales Surtax Revenue Bonds Series 2003Capital Projects FundsClerk s Revenue Note

Schedule of Revenues Expenditures and Changes in Fund Balances Budget and ActualMajor Governmental FundsOne Cent Infrastructure Surtax Capital Project FundInfrastructure Sales Surtax Revenue Bonds Series 2003 Capital Projects Fund

Combining Statement of Net Assets Internal Service FundsCombining Statement of Revenues Expenses and Changes in Fund Net Assets

Internal Service Funds

Combining Statement of Cash Flows Internal Service Funds

Combining Statement of Fiduciary Net Assets All Agency FundsCombining Statement of Changes in Fiduciary Net Assets All Agency Funds



STATISTICAL SECTION

Net Assets by ComponentChanges in Net AssetsGovernmental Activities Tax Revenues By SourceFund Balances of Governmental Funds

Changes in Fund Balances of Governmental FundsGeneral Governmental Tax Revenues By SourceAssessed Value and Estimated Actual Value of Taxable PropertyDirect and Overlapping GovernmentsPrincipal Property TaxpayersProperty Tax Levies and CollectionsRatios of Outstanding Debt by TypeRatios of General Bonded Debt OutstandingDirect and Overlapping Governmental Activities DebtLegal Debt Margin Information

Pledged Revenue Coverage Governmental ActivitiesPledged Revenue Bonds and Notes Business type ActivitiesDemographic and Economic Statistics

Principal EmployersFull time Equivalent County Government Employees by FunctionOperating Indicators by Function

Capital Asset Statistics by Function

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G70

G71

G72

G73G74

G75

G76

G77

G78G79

G80 G81

G82 G83

G84 G87G88

G89 G90

H1H2 H4

H5

H6H7 H8

H9

H10

H11H12

H13

H14H15

H16H17

H18H19

H20H21

H22H23H24



SINGLE AUDIT GRANTS COMPLIANCE SCHEDULES

Independent Auditor s Report on Internal Control over Financial Reporting and on

Compliance and Other Matters Based on an Audit of Financial StatementsPerformed in Accordance with Government Auditing Standards

Independent Auditor s Report on Compliance and Internal Control over ComplianceApplicable to each Major Federal Awards Program and State Financial Assistance

ProjectsSchedule of Expenditures of Federal Awards and State Financial Assistance

Notes to Schedule of Expenditures of Federal Awards and State FinancialAssistance Projects

Schedule of Findings and Questioned Costs Federal Awards Programs andState Financial Assistance Projects

Summary Schedule of Prior Audit Findings Federal Programs and State ProjectsIndependent Auditor s Management Letter

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11 12

13 14

15 118119

120 123

124J 1 J2

CLERK OF THE CIRCUIT COURT

MONROE COUNTYBRANCH OFFICEMARATHON SUB COURTHOUSE3117 OVERSEAS HIGHWAYMARATHON FLORIDA 33050TEL 305 289 6027

FAX 305 289 1745

MONROE COUNTY COURTHOUSE500 WHITEHEAD STREET SUITE 101

KEY WEST FLORIDA 33040

TEL 305 2923550FAX 305 295 3663

BRANCH OFFICEPLANTATION KEY

GOVERNMENT CENTER88820OVERSEAS HIGHWAY

PLANTATION KEY FLORIDA 33070

TEL 305 8527145

FAX 305 852 7146

March 19 2007

The Honorable Mario Di Gennaro

Mayor Board of County CommissionersMonroe County Florida

Dear Mayor Di Gennaro

It is our pleasure to present to you the Board of County Commissioners and the citizens the Monroe County Florida Comprehensive Annual Financial Report CAFR for the fiscal year endedSeptember 30 2006 Chapter 218 39 of the Florida Statutes requires an independent certified

public accountant to audit the financial statements of counties in the State In addition the FederalSingle Audit Act the Florida Single Audit Act and the federal OMB Circular A 133 require an independent auditor to report on the governments internal controls and compliance with legal requirements concerning the administration of federal awards and state financial assistance This reportis published to fulfill these requirements

This report was prepared by the Finance Department of the Clerk of the Court Responsibility forboth the accuracy of the presented data and the completeness and fairness of the presentationincluding all disclosures rests with the Clerk of the Court as Chief Financial Officer of MonroeCounty We assert that to the best of our knowledge and belief this financial report is completeand reliable in all material aspects It is presented in a format designed to fairly present the financial position and results of operations of Monroe County as measured by the financial activity of itsvarious funds and that all disclosures needed to allow the reader to gain a comprehensive understanding of the County s financial activity have been included

The County has established a comprehensive internal control framework that is designed both to

protect the County s assets from loss theft or misuse and to compile sufficient reliable accountinginformation for financial statement preparation in conformity with United States generally acceptedaccounting principles GAAP established by the Government Accounting Standards Board Because the cost of internal controls should not outweigh their benefits the objective is to providereasonable rather than absolute assurance that the financial statements will be free of materialmisstatement

Cherry Bekaert and Holland L L P have issued an unqualified clean opinion on the MonroeCounty Florida financial statements for the year ended September 30 2006 The independentauditor s report is located at the front of the financial section of this report

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Managements discussion and analysis MD A can be found immediately following the independent auditor s report and provides a narrative introduction overview and analysis of the basic financial statements This letter of transmittal is designed to complement the MD A and should beread in conjunction with it

Monroe County Profile

Basic Information

Monroe County was constitutionally formed in 1823 It is comprised of a string of subtropical is

lands that stretch more than one hundred miles into the Atlantic Ocean These islands are con

nected in a chain like fashion to the mainland by a series of forty two bridges The County seat

Key West is approximately one hundred fifty miles southwest of Miami Havana Cuba lies a mere

ninety miles to the south

Monroe County is a non charter county established under the Constitution and the laws of the

State of Florida Legislative authority and policy decisions are vested in the Board of CountyCommissioners consisting of the mayor and four other members all of whom are elected Theoperation of other specific government functions resides with five Constitutional Officers TheseOffices are elective and their titles indicative of their specific function The positions are the Clerkof the Court Property Appraiser Sheriff Supervisor of Elections and Tax Collector Monroe

County provides a full range of services including roads health and social services emergencymedical services park and recreational services solid waste services airport services and othergovernmental services

Reoortinq Entitv

For financial reporting purposes the County s reporting entity consists of 1 the Board of CountyCommissioners and the Constitutional Officers 2 the Monroe County Comprehensive Plan LandAuthority a blended component unit which though legally separate is in substance part of MonroeCounty s operations and for which the County is financially accountable and 3 the MonroeCounty Housing Finance Authority a discretely presented component unit which is financially accountable to Monroe County and whose relationship with the County is such that an exclusionwould cause the County s financial statements to be misleading or incomplete The Monroe CountyHousing Finance Authority is reported in a separate column in the combined financial statementsto emphasize that it is legally separate from the County and to differentiate its financial positionresults of operations and cash flows from those of the County Additional information on the two

component units can be found in the notes to the financial statements The Monroe County SchoolBoard and the Monroe County Mosquito Control District have not met the established criteria forinclusion in the reporting entity and accordingly are excluded from this report

Budqet

Formal budgetary integration is employed as a management control device during the year for allfund types except as described in the notes to the financial statements Monroe County followsthe laws of Florida regarding the control adoption and amendment of the budget during each fiscal year The County Commission has increased the level of budgetary control by requiring a

County Commission resolution for the all cost center departmental budgetary changes

Budgets for the Property Appraiser and the Tax Collector are approved by the Florida Departmentof Revenue and are adopted as part of the General Fund by the Board of County CommissionersThe Sheriff and Supervisor of Elections prepare their budgets which are submitted to and ap

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proved by the Board The Clerk of the Court s budget is divided between court related functionsfunded by court related revenues court related functions required to be funded by the Board of

County Commissioners and non court related functions The court related portion of the Clerk s

budget funded by court related revenues is approved by the Clerks of Court Operations Corporation The rest of the Clerk s budget is approved by the Board of County Commissioners and in

cluded as part of the General Fund

Economic Condition

Local Economv

Monroe County occupies a unique and very beautiful corner of the U S Our subtropical chain ofislands offers mild climate year round and extensive recreational water activities This makes theFlorida Keys and Key West a major domestic and international tourist destination Eight of the topten taxpayers in Monroe County are hotels The price we pay for our location and climate is thesusceptibility to seasonal hurricanes Monroe County sustained serious damage from a hurricane

in October 2006 Although there were no hurricanes for the rest of the year the tourist industrywas affected Airplane passenger arrivals decreased from 2005 Estimates of the decrease rangebetween 10 and 12 However tourist and recreational sales have remained stable with an increase of approximately 14 and hotel room rentals have increased by 2 7

Property values through 2006 continued to increase despite two years of unusually active hurricane seasons The nationwide real estate market in 2007 experienced a decline and MonroeCounty expects a similar though lesser decline Over a ten year period property tax collectionshave risen 44 Over the same period total assessed value of taxable property has increased197 All taxable sales have increased 6 6 from 2005 levels The County continues to experience a strong economic environment

The County s unemployment rate of 2 8 at September 30 2006 is well below the state and na

tional rates of 3 5 and 44 respectively The County has historically enjoyed a strong job market

Local revenues and expenditures continue to be affected by intergovernmental pressures from reduced federal and state aid lack of funding for federal and state mandated programs and services and the increased demands for stronger public safety services affordable health insuranceand affordable housing

Lono term Financial Plannino

The County has developed the Monroe County Year 2010 Comprehensive Plan This plan hasbeen approved by the state and describes the County s goals in the areas of land use conservation and coastal management traffic circulation mass transit ports aviation and related facilitiesaffordable housing potable water solid waste sanitary sewer storm water drainage natural

groundwater aquifer recharge recreation and open space intergovernmental coordination andcapital improvements

The County has implemented an employee recruitment and retention program County staff was

significantly reduced from 1998 levels as a result of the incorporation of the City of Marathon andthe Village of Islamorada The County has begun to add employees as it now has a base of experience concerning personnel needs required after the incorporations within the County TheCounty had been experiencing turnover rates of approximately 18 during 2004 The rate of em

ployee turnover was improved by adding staff but also by adjusting compensation to better match

A 3

salaries with the local cost of living The Board continues to focus on this area in its attempt to

balance costs services to Monroe County citizens and fair compensation to its employees

The County provides health care coverage for 291 retirees The Board is aware of the changesrequired by the Government Accounting Standards Board which requires the calculation and disclosure of the cost of post retirement health care benefits The Board has reviewed estimates ofthe unfunded cost for future years benefits and staff is developing strategies to fund and otherwise manage the financial impact to the County

Relevant Financial Policies

During 2006 the Board approved an appropriation policy whereby 77 5 of estimated ending fundbalances are appropriated in the budget process as opposed to the previous policy of 72 5 of es

timated fund balance for the prior year

Maior Initiatives

Several projects were underway in 2006 in furtherance of the County s Comprehensive PlanCapital project improvements included the construction of a new judicial building in Key Westconstruction of a new public works compound construction of two fire stations a new medical ex

aminer facility and a new park on Big Pine Key These improvements are to be funded from theCounty s capital project funds

The County has issued bonds to assist in the construction of a new Key West airport terminal

The bond proceeds federal and state entitlement revenues passenger facility fees and capitalproject funds will provide a modern more secure facility Construction commenced during thesummer of 2006

Municipal service taxing districts have been created to support the cost of wastewater projects inStock Island Big Coppitt Cudjoe and Sugarloaf Keys Big Pine and Summerland Keys ConchKey Long Key and the City of Layton and Duck Key The Stock Island Key Largo Duck KeyLong Key and Big Coppitt Key storm water projects are under construction The City of Laytonproject has been completed The wastewater projects are funded by grants and capital projectfunds

Awards and Acknowledgments

The Government Finance Officers Association of the United States and Canada GFOA awardeda Certificate of Achievement for Excellence in Financial Reporting to Monroe County Florida for itsComprehensive Annual Financial Report for the fiscal year ended September 30 2005 This wasthe eighteenth consecutive year that the government has achieved this prestigious award In order to be awarded a Certificate of Achievement a government must publish an easily readableand efficiently organized comprehensive annual financial report This report must satisfy both U Sgenerally accepted accounting principles and applicable legal requirements

A Certificate of Achievement is valid for a period of one year only We believe that our currentcomprehensive annual financial report continues to meet the Certificate of Achievement Program s

requirements and we are submitting it to the GFOA to determine its eligibility for another certificate

The County also submits its budget document to GFOA and has received GFOA s DistinguishedBudget Presentation Award for eight years

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This report is the product of the dedication of the Finance Department under the direction of theClerk of the Court of Monroe County as Auditor and Chief Financial Officer to the Board of CountyCommissioners We would like to express our appreciation to the entire Finance Department aswell as other County departments for their assistance in the preparation of this report We also extend our thanks and appreciation to our independent auditors Cherry Bekaert and Holland LLPfor their outstanding efforts and assistance In closing we thank the County Commissioners fortheir interest and support to us throughout the year

Sincerely

nn

Clerk of the Circuit Courtand Chief Financial Officer

Sandra CarlileFinance Director

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Certificate ofAchievementfor Excellencein FinancialReporting

Presented to

Monroe CountyFlorida

For its Comprehensive Annual

Financial Reportfor the Fiscal Year Ended

September 30 2005

A Certificate of Achievement for Excellence in FinancialReporting is presented by the Government Finance Officers

Association of the United States and Canada to

government units and public employee retirementsystems whose comprehensive annual financial

reports CAFRs achieve the higheststandards in govenunent accounting

and financial reporting

President

flrExecutive Director

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CHERRYBEI AERTHOLLAND

11 11111 D PUBlIC

1 011 IAIS

ONSIII 11 IS

INDEPENDENT AUDITORS REPORT

To the Honorable Mayor and Boardof County Commissioners ofMonroe County Florida

We have audited the accompanying financial statements of the governmental activities the businesstype activities each major fund and the aggregate remaining fund information of Monroe CountyFlorida the County as of and for the year ended September 30 2006 which collectively comprisethe County s basic financial statements as listed in the table of contents These financial statementsare the responsibility of the County s management Our responsibility is to express opinions on thesefinancial statements based on our audit We did not audit the financial statements of the MonroeCounty Housing Finance Authority the Authority Those financial statements were audited by otherauditors whose report thereon has been furnished to us and our opinion insofar as it relates to theamounts included for the Authority is based solely on the report of the other auditors

We conducted our audit in accordance with auditing standards generally accepted in the United Statesof America and standards applicable to financial audits contained in Government Auditing Standardsissued by the Comptroller General of the United States Those standards require that we plan andperform the audit to obtain reasonable assurance about whether the financial statements are free ofmaterial misstatement An audit includes examining on a test basis evidence supporting the amountsand disclosures in the financial statements An audit also includes assessing the accounting principlesused and significant estimates made by management as well as evaluating the overall financialstatement presentation We believe that our audit and the report of other auditors provide a reasonablebasis for our opinions

In our opinion based upon our audit and the report of other auditors the financial statements referredto above present fairly in all material respects the financial position of the govemmental activities thebusiness type activities the discretely presented component unit each major fund and the aggregateremaining fund information of the County as of September 30 2006 and the respective changes infinancial position and cash flows where applicable thereof and the respective budgetary comparisonfor the General Fund the Fine and Forfeiture Fund the Road and Bridge Fund the GovernmentalGrants Fund and the HIDTA Grants Fund for the year then ended in conformity with accountingprinciples generally accepted in the United States of America

As discussed in the notes to the financial statements the County adopted the retroactive provisions forinfrastructure accounting prescribed by Statement 34 of the Governmental Accounting Standardsboard Basic Financial Statements and Managements Discussion and Analysis for State and LocalGovernments as of October 1 2005

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In accordance with Government Auditing Standards we have also issued our report dated February 22007 on our consideration of the County s internal control over financial reporting and our tests of itscompliance with certain provisions of laws regulations contracts and grant agreements and othermatters The purpose of that report is to describe the scope of our testing of internal control overfinancial reporting and compliance and the results of that testing and not to provide an opinion on theinternal control over financial reporting or on compliance That report is an integral part of an auditperformed in accordance with Government Auditing Standards and should be considered in assessingthe results of ouraudit

The managements discussion and analysis section as listed in the table of contents is not a requiredpart of the basic financial statements but is supplementary information required by the GovernmentalAccounting Standards Board We have applied certain limited procedures which consisted principallyof inquiries of management regarding the methods of measurement and presentation of the requiredsupplementary information However we did not audit the information and express no opinion on it

Our audit was conducted for the purpose of forming opinions on the financial statements thatcollectively comprise the County s basic financial statements The introductory section combiningfinancial statements supplemental schedules and statistical tables listed in the foregoing table ofcontents are presented for purposes of additional analysis and are not a required part of the basicfinancial statements The accompanying Schedules of Expenditures of Federal Awards and StateFinancial Assistance Projects are also presented for the purpose of additional analysis as required bythe U S Office of Management and Budget Circular A 133 Audits of States Local Governments andNon Profit Organizations and Chapter 10 550 Rules of the Auditor General and are not a required partof the basic financial statements The combining financial statements and supplementary schedulesand the accompanying Schedules of Expenditures of Federal Awards and State Financial AssistanceProjects have been subjected to the auditing procedures applied in our audit of the basic financialstatements and in our opinion are fairly presented in all material respects when considered in relationto the basic financial statements taken as a whole The introductory section and statistical tables havenot been subjected to the auditing procedures applied in the audit of the basic financial statements andaccordingly we express no opinion on them

CHERRY BEKAERT HOLLAND LL P

8M 71flJjL

Orlando Florida

February 2 2007

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Management s Discussion and Analysis

As Finance Department management under the direction of the Chief Financial Officer and Clerk of theCircuit Court in Monroe County we offer readers this narrative overview and analysis of the financialactivities of Monroe County Government for the fiscal year ended September 30 2006 We encouragereaders to consider this information in conjunction with additional information furnished in the letter oftransmittal of the report and the basic financial statements for an overall view of Monroe County sactivities

Financial Highlights

Monroe County s total net assets exceeded its liabilities at September 30 2006 by442 370 830 an increase of 44 327 712 Net assets for governmental activities were371 663 590 and 70 707 240 for business type activities

Unrestricted net assets available for Monroe County s ongoing obligations to citizens andcreditors were 106 537 600 an increase of 12 116 807 Governmental activity unrestrictednet assets were 83407 038 Business type activity unrestricted net assets were23 130 562

At September 30 2006 Monroe County s governmental funds statement reported combinedending fund balances of 150 683 051 Of this amount 138448 925 remains in the variousfund types of Monroe County as unreserved

The General Fund reported a fund balance of 17 197 707 a decrease from the last fiscalyear of 1 0 568 079

Bonded debt and loans of Monroe County increased 28 304 987 in 2006 Monroe County s

percentage of bonded debt and loans compared to net assets increased from 6 2 to 12 0

Overview of the Financial Statements

This discussion and analysis is intended to serve as an introduction to Monroe County Government sbasic financial statements which include government wide statements fund statements as well asnotes to the financial statements This report also contains other supplementary information in additionto the basic financial statements

Government Wide Financial Statements

Government wide financial statements are designed to provide the reader with a broad overview of thefinancial position of Monroe County and are similar to private sector financial statements They includea Statement of Net Assets and a Statement of Activities These statements appear on pages D 1through D 4 of this report

The Statement of Net Assets shows the County s assets less its liabilities at September 30 2006 Thedifference between these assets and liabilities is reported as net assets Changes in net assets overtime may be indicative of an improving or deteriorating financial position Net assets are reported inthree categories 1 invested in capital assets net of related debt 2 restricted and 3 unrestricted

The Statement of Activities which follows the Statement of Net Assets presents information showinghow the net assets changed during fiscal year 2006 The statement presents all underlying events

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which contribute to the change irrespective of the timing of the related cash flows Thus revenues andexpenses are reported in this statement for some items that will only affect cash flows in future fiscal

periods Such items include revenues earned and expenses incurred but not yet paid as well as

unused vacation leave all of which will produce changes in cash in a future fiscal period

Both statements attempt to distinguish functions of Monroe County that are principally supported bytaxes and intergovernmental revenues governmental activities from other functions that are intendedto recover all or a significant portion of their costs through user fees and charges for servicesbusiness type activities Governmental activities reported in the statements include general

government public safety physical environment transportation economic environment humanservices culture and recreation and court related Business type activities include Monroe County s

airports solid waste and landfill operations and the Card Sound Road and Toll Bridge

The government wide financial statements also report the Monroe County Housing Finance Authoritywhich is considered a legally separate component unit This financial information is reported separatelyfrom the primary governments financial information

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have beensegregated for specific activities or objectives Monroe County like other state and local governmentsuses fund accounting to ensure and demonstrate compliance with finance related legal requirementsAll of the funds of Monroe County can be divided into three general categories governmentalproprietary and fiduciary funds

Governmental Funds

Governmental Funds essentially account for the same functions as those reported in the governmentwide statements described above However unlike the government wide statements this set offinancial statements focuses on events that produce near term inflows and outflows of spendableresources available at the end of the fiscal year which is a narrower focus than the government widefinancial statements Such information may be useful in evaluating the available spendable resources

These statements appear on pages E 1 through E 19 of this report

It can be useful to compare the information presented for the governmental funds with similarinformation presented for governmental activities in the government wide statements Thereforereconciliations are provided as a link between both the governmental fund statements and the

government wide statements to assist in this comparison

The governmental fund financial statements present financial information for the County s generalspecial revenue debt service and capital project funds Governmental funds individually presented as

major funds in Monroe County s statements include the General Fund four Special Revenue FundsFine and Forfeiture Road and Bridge Governmental Grants and HIDTA Grants and two capitalproject funds One Cent Infrastructure Surtax and Infrastructure Sales Surtax Revenue Bonds Series2003

Although there are many smaller governmental funds in Monroe County they have been presented in atotal column Nonmajor Governmental Funds These funds are presented individually in the combiningand individual fund statements section of the report

Proprietary Funds

Monroe County maintains two different types of proprietary funds enterprise and internal service Theproprietary fund statements appear on E 20 through E 29 of this report

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Enterprise funds are used to report business type activities in the government wide financialstatements Monroe County maintains four major enterprise funds Municipal Service District WasteKey West Airport Card Sound Bridge and the Marathon Airport There are no non major enterprisefunds

Internal service funds are used to accumulate and allocate costs among Monroe County s variousfunctions Monroe County uses internal service funds to account for insurance activities worker s

compensation group health and risk management and fleet maintenance activities Internal servicefunds are presented in total in the fund financial statements but may be reviewed individually in the

combining and individual fund statements section of the report Because these services predominantlybenefit governmental rather than business type functions they have been included within the

government wide financial statements as governmental activities They are also combined into a

single aggregated presentation in the proprietary fund financial statements

Fiduciary Funds

Monroe County uses fiduciary funds to account for resources held for the benefit of parties outside ofCounty government such as assets held in trust and agency funds by Monroe County as an agent forindividuals Fiduciary funds are not reflected in the government wide financial statements because theresources of those funds are not available to support Monroe County s own programs The accountingused for fiduciary funds is much like that used for proprietary funds The fiduciary fund financialstatements appear on pages E 30 through E 31 of this report

Notes to the Financial Statements

The notes to the financial statements provide additional information that is essential to a fullunderstanding of the data provided in both government wide and fund financial statements The notescommence on page F 1 and continue throughout the entire F page section

Other Information

Combining and individual statements and schedules mentioned earlier which present details of non

major funds used in governmental and enterprise funds commence on page G 1 and continuethroughout the entire G page section This section also includes the budget to actual schedules andstatements for major capital project internal service and agency funds

Additional information about Monroe County can be found under the Statistical Section in the H pagesection and the Single Audit Section in the I page section of this report

Government Wide Financial Analysis

Monroe County Net Assets in thousands

Governmental

Activities

Business typeActivities

Total PrimaryGovernment

Current and

Other Assets 215 340 218 696 63441 31 677 278 781 250 373

CapitalAssets 217 266 167 824 45 585 44 705 262 851 212 529Total Assets 432 606 386 520 109 026 76 382 541 632 462 902

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2006 2005 2006 2005 2006 2005

CurrentOther

Liabilities

Long TermLiabilities

Governmental Business type Total PrimaryActivities Activities Government

2006 2005 2006 2005 2006 2005

36459 28486 3 943 5 764 40402 34 250

24 483 26 225 34 376 4 384 58 859 30 609

TotalLiabilities 60 942 54 711 38 319 10 148 99 261 64 859

Net Assets

Invested in CapitalAssets Net of

164 021 41 863 40 516 251 626 204 537Related Debt 209 763

Restricted 78494 94 138 5 713 4 947 84 207 99 085

Unrestricted 83407 73 650 23 131 20 771 106 538 94421

Total Net

Assets 371 664 331 809 70 707 66 234 442 371 398 043

The overall financial position of Monroe County improved in both fiscal years 2006 and 2005 Changesin net assets over time can be one of the best and most useful indicators of a governments financialposition Monroe County s increase in net assets for the fiscal years ending 2006 and 2005 were44 327 712 and 26 894 091 respectively In 2005 the increase in net assets was entirely

attributable to the current year change in net assets The 2006 current year change in net assets was11 433 351 a decrease of 15 460 740 from the prior year The decrease was offset by the addition

of retroactive infrastructure in compliance with the requirements of GASB Statement No 34

The largest portion of net assets for 2006 and 2005 is Monroe County s investment in capital assetse g land and depreciated buildings infrastructure and equipment less any outstanding debt related to

their acquisition This category represents 56 9 and 51 3 of total primary government net assets forfiscal years 2006 and 2005 Monroe County uses these capital assets to provide services to citizensconsequently these assets are not available for future spending Although Monroe County s investmentin capital assets is reported net of related debt it should be noted that the resources needed to repaythis debt must be provided from other sources since the capital assets themselves cannot be used to

liquidate these liabilities

Total primary government net assets above also include restricted net assets Restricted net assetsare resources subject to external restriction on how they may be used The restrictions reported forbusiness type activities are comprised of the landfill closure and post closure costs and the Key WestAirport s debt service payments and passenger facility charges Restrictions reported for governmentalactivities are special purpose funds which report the use of resources as designated by externalentities

The remaining component of net assets is unrestricted net assets Unrestricted net assets may beused to meet the County s ongoing obligations to citizens and creditors

The 2006 change in current and other assets arose from an increase in restricted cash and unrestrictedcash offset by a decrease in investments As investments matured during the year the proceeds wereadded to interest bearing deposits or used to fund operations The County obtained financing andcommitted capital project funds to construct a new Key West airport facility Bond proceeds passenger

C 4

facility fees and the 2006 County funding commitment have been placed in restricted cash accounts

until used for the intended purpose The increase in capital assets is related in part to several largeconstruction projects including the judicial center continuing infrastructure projects for wastewater

facilities a new fire station a waterfront property and the Key West airport facility The increase in

capital assets also includes the addition of retroactive infrastructure in compliance with therequirements of GASB Statement No 34

Liabilities increased because of the revenue bonds issued to finance the new Key West airport facilityas previously described Accounts payable also increased because of Hurricane Wilma costs and legalfees Payment was delayed pending staff review of the vendors compliance with contractual

agreements

Comparison of Current Assets and Liabilities in thousands

A comparison of current assets as compared to current liabilities for both governmental and business

type activities can be a good indication of Monroe County s ability to meet its current and existingoperational responsibilities The ratios for the current and prior fiscal years are as follows

Governmental Business typeActivities Activities

2006 2005 2006 2005

Current Assets 208 200 211 518 25 823 26 709

Current Liabilities 36459 28486 3 943 5 764

Ratio of Current Assets to

Current Liabilities 5 71 742 6 55 4 63

The schedule above demonstrates that Monroe County has more than adequate cash flows

Monroe County Changes in Net Assets in thousands

Governmental

Activities

2006 2005


2006 2005

Total PrimaryGovernment

2006 2005Revenues

Charges for

Services

Operating Grants

and Contributions

Capital Grants

and Contributions

28 744 24 274 21 420 20 528 50 164 44 802

53 094 29 682 7 112 5 676 60 206 35 358

3 581 3 395 3417 4 917 6 998 8 312

C 5

Governmental Business type Total PrimaryActivities Activities Government

2006 2005 2006 2005 2006 2005

General

Revenues

Property Taxes 71 979 65 214 71 979 65 214

Other Taxes 48 661 48 395 48 661 48 395

State Revenue

Sharing 3 366 3 296 3 366 3 296

Investment

Income 9 504 5 611 1 737 742 11 241 6 353

Miscellaneous 6 221 7 683 29 116 6 250 7 799

Total Revenues 225 150 187 550 33 715 31 979 258 865 219 529

ExpensesGeneral

Government 39 025 32 120 39 025 32 120

Public Safety 122 030 87 224 122 030 87 224

PhysicalEnvironment 8 775 7 228 8 775 7 228

Transportation 8 588 5 021 8 588 5 021Economic

Environment 17 780 16 069 17 780 16 069

Human Services 9 221 7 742 9 221 7 742

Culture and

Recreation 4 827 4 359 4 827 4 359

Court Related 7 246 6467 7 246 6467Interest on Long

Term Debt 559 825 549 825Solid Waste 15429 14 238 15 429 14 238

Toll Bridge 1 298 890 1 298 890

Key West Airport 10 927 9 140 10 927 9 140Marathon Airport 1 736 1 312 1 736 1 312

Total Expenses 218 041 167 055 29 390 25 580 247431 192 635

Change in NetAssets Before

Transfers 7 109 20 495 4 325 6 399 11 434 26 894

Transfers 148 974 148 974

Change in Net

Assets 6 961 21469 4 473 5425 11 434 26 894

C 6

decrease from the prior year Governmental funds unreserved fund balance totals were 138 448 925a decrease of 17 0 from the prior year and 91 9 of the total fund balance Reserved fund balancesare as follows 1 712 984 to meet current commitments encumbrances in the next fiscal year2 791423 for Monroe County Land Authority land and land rights acquisition 6754 563 for mortgage

loans receivable and 975 156 for payment of debt service The Monroe County Land Authority is ablended component unit of Monroe County and is reported as a non major special revenue fund

The General Fund is the chief operating fund of Monroe County and automatically one of MonroeCounty s major funds At September 30 2006 total fund balance in the general fund was 17 197 707

Total revenues increased 1 126 811 or 3 1 from the previous year Expenditures also increased13 679 924 or 18 5 Most of the expenditure increase is attributable to the increase in the public

safety function 11 5 and an increase in general government expenditures 3 91

Other Maior Fund Information in thousands

Fine and

Forfeiture

2006 2005

Road and

Bridge2006 2005

Governmental

Grants

2006 2005

Revenues and OtherSources

Expenses and OtherUses

48 875 39 774 5 972 5 820 21 827 6 051

45 702 40 849 8 606 5 390 30474 7 865

Increase Decrease

In Fund Balance 3 173 1 075 2 634 430 8 647 1 814

HIDTA

Grants

2006 2005

One Cent

Infrastructure Surtax

2006 2005

I nfrastructure Surtax

2006 Revenue Bonds

2006 2005

Revenues and OtherSources

Expenses and Other

Uses

20 777 19 769 16 976 16 320 830 488

20 777 19 769 19 802 16443 8 518 450

Increase Decrease

In Fund Balance 2 826 123 7 688 38

Fine and Forfeiture Special Revenue Fund Although ad valorem millage rates were slightly loweredtax revenues increased because of the increase in property values Revenues also increased due tointerfund transfers from the capital projects and special revenue funds to cover the cost of Sheriffassets Expenditures increased to fund a transfer to the Sheriff s general fund for the purchase of an

emergency rescue helicopter and improvements to the Sheriff s radio communications system

Road and Bridqe Special Revenue Fund Expenditures in 2006 increased because of better progress invarious projects due to better staffing and no hurricane evacuations Gas tax revenues increased tomore normal levels as there were no hurricane disruptions this year

C 9

Governmental Grants Special Revenue Fund The receipt of grant funds related to hurricane assistancecaused the increase in intergovernmental revenue The grants were used to fund an increase in publicsafety expenditures necessary due to Hurricane Wilma

HIDTA Grants Special Revenue Fund This fund is used to account for reimbursement grants funded bythe U S Department of Justice to fight drug trafficking The volume of revenues and expenditures hasnot significantly changed as programs established by the grantor have been continued

One Cent Infrastructure Surtax Capital Proiects Fund The citizens of Monroe County approved a onecent sales surtax which is the main revenue source in this fund Sales tax revenues increased as thehurricane season caused very little disruption to business Expenditures were increased due to

purchases of equipment provision of grant match and local funding for the Key West airport project

Infrastructure Surtax 2006 Revenue Bonds Capital Projects Fund In 2003 Monroe County issued21455 000 in revenue bonds to be paid from one cent sales surtax revenues Revenues in 2006

consist of investment earnings on unused bond proceeds Expenditures increased as the projectsfunded by bond proceeds are in the midst of construction

Proprietary Funds

Proprietary fund statements provide the same information as in the business type activities column ofthe government wide statements but in greater detail and on a fund basis for enterprise funds andinternal service funds

The Municipal Service District Waste Enterprise Fund maintains Monroe County s landfills and transfersites Monroe County continues to outsource the waste haul out services through a major contractThe revenues are pledged to meet the debt service payment requirements on the Monroe CountyFlorida Solid Waste Disposal System Refunding Revenue Note Series 2002

The Kev West Airport Enterprise Fund receives numerous operating and capital grants The majorsource of match for these grants is accumulated funds from passenger facility fee charges paid by thevarious airlines During the year the Key West Airport issued revenue bonds to fund the cost of a newairport terminal and related facilities Part of the revenue stream committed for the payment of bondprincipal and interest is the collection of passenger facility fees Operating expenses increased due tothe grant funded noise improvement program and Hurricane Wilma costs offset by the completion ofseveral small maintenance projects

Other factors concerning the finances of these two major funds have already been addressed in thediscussion of Monroe County s business type activities

The internal service funds include the Worker s Compensation Fund Group Insurance Fund RiskManagement Fund and the Fleet Management Fund The self insurance funds are a major focus inMonroe County s operations

Operating revenues in the internal service funds increased from 21 327 820 in 2005 to 24 524 725 in2006 an increase of 15 0 The increase is mostly attributable to insurance proceeds received as aresult of Hurricane Wilma and higher interest earnings on cash and investments Operating expensesincreased 1 286 867 or 7 5 as a result of higher asserted and paid claims and fees paid tomaximize insurance proceeds

C 10

Capital Assets

Monroe County s financial statements present capital assets in two categories those assets subject to

depreciation such as buildings infrastructure and equipment and those not subject to depreciationsuch as land and construction in process

Investment in capital assets for both governmental and business type activities net of related debt at

September 30 2006 was 251 626 394 Investment in capital assets for governmental activities is209 762 788 and 41 863 606 for business type activities

These capital assets include assets purchased as well as donated They also include infrastructureassets e g bike paths roads bridges stormwater and wastewater sites recorded at historical costInfrastructure assets consisting of roads and bridges acquired prior to the effective implementation dateof GASB Statement No 34 were reported this year as a restatement to net assets in the amount of32 894 361

Monroe County has several significant general government construction projects A new courthousefacility and a new Upper Keys fire station are underway Monroe County is constructing central sewer

systems to replace the existing method of wastewater disposal and improve Monroe County s fragileenvironment There are also several roadway improvement projects which will provide better roaddrainage create bike paths and upgrade safety measures Monroe County has receivedapproximately 729 000 in land donated by citizens as part of the building permit process MonroeCounty further increased its investment in real estate by purchasing property in the lower keys to

preserve the public s access to waterfront

The Key West airport has begun construction of a new airport terminal The project is presentlyestimated to cost 32 000 000 The Card Sound Bridge is also undergoing a major renovation project

Further details are available in Note 7 to the financial statements pages F 17 through F 18

Long Term Debt

At September 30 2006 Monroe County had long term debt in the amount of 62 501 129 This debt ismainly comprised of revenue bonds and notes secured by pledges of revenues Revenue secured debtfor governmental activities is 19 843 771 and 33 309 611 is for business type activities MonroeCounty has no general obligation bonds

Moody s Investors Service Standard and Poor s Ratings Services and Fitch Ratings assignedmunicipal bond ratings of Aaa and AAA respectively to the above mentioned bond based upon themunicipal bond insurance policy securing such bonds issued by MBIA Insurance Corporation

Further details are available in Note 8 to the financial statements pages F 19 through F 23

Budgetary Highlights

The category changes in the General Fund s final budget are summarized below

The total final general fund revenue budget decreased by 428430 or 1 2 from the original budgetRevenue budget adjustments were made throughout the year to conform estimates to actual fundsavailable

C 11

The largest increase of 4 146 252 was in public safety The Sheriff s general fund budget wasincreased to permit the purchase of a helicopter for trauma rescue and fund improvements to theexisting radio communication system Public safety expenditures also increased because of HurricaneWilma The second largest expenditure budget increase was general government in the amount of

764 306 The largest part of the increase was in public works facilities maintenance in the amount of477 066 due once again to Hurricane Wilma The County Attorney also received 200 000 in

additional funding for outside counsel The general government increases were offset by a reduction in

expenditures for vehicle replacement of 329444

Economic Factors and Next Year s Budgets and Rates

Monroe County s officials considered many factors when adopting the fiscal year 2007 budgetIncluded among these factors were the anticipated change in property values the recovery of varioussales tax and other revenues impacted by the tourist economy and the issuance of revenue bonds

Also considered were the costs of employee benefits increases in insurance premiums for all types ofcoverage the implementation of wastewater treatment programs affordable housing initiatives and the

airport improvement project

Ad valorem taxes based on property values comprise approximately 73 of budgeted tax revenuesThe Property Appraiser certified a county wide property value of roughly 21 7 billion for fiscal year2006 For fiscal year 2007 the county wide property value has been certified at approximately 26 5billion an increase of 22 1

Charges for services paid to Constitutional Officers have increased to cover the cost of thoseoperations largely attributable to an increase in personnel costs Other charges for services haveincreased because the charges are based on property values and tourist related activities both ofwhich have increased However for the eleventh year in a row it was unnecessary to increase the solidwaste residential rates because of previous successful negotiations with the contractor providing waste

transportation services

Requests for Information

This financial report is designed to provide a general overview of Monroe County s finances for all thosewith an interest in its finances Questions concerning any of the information provided in this report or

requests for additional information should be addressed to the Finance Director Clerk of the CircuitCourt 500 Whitehead Street Key West Florida 33040

C 12

BASIC FINANCIAL STATEMENTS

MONROE COUNTY FLORIDASTATEMENT OF NET ASSETS

SEPTEMBER 30 2006

ComponentPrimary Government Unit

Governmental Business Type Monroe CountyActivities Activities Total Hsg Fin Auth

ASSETS

Current AssetsCash and Cash Equivalents 164 942 523 21 788 179 186 730 702 54 848Investments 24 363 792 24 363 792Accounts Receivable Net 590 634 963 234 1 553 868Internal Balances 978 346 978 346Due from Other Governmental Units 16 942 235 4 048 569 20 990 804Interest Receivable 378466 919 379 385Inventory 3 902 3 902

Total Current Assets 208 199898 25 822 555 234 022453 54 848

Noncurrent Assets

Mortgage Notes Receivable 11 818 627 11 818 627Allowance for Mortgage Notes Receivable 5 064 064 5 064 064Deferred Charges 385 448 710 743 1 096 191

Restricted Cash and Cash Equivalents 36 907 293 36 907 293Land and Other Nondepreciable Assets 96 449 622 12 160 293 108 609 915Other Capital Assets Net of

Accumulated Depreciation 120 816 104 33425 194 154 241 298Total Noncurrent Assets 224405 737 83 203 523 307 609 260

Total Assets 432 605 635 109 026 078 541 631 713 54 848

LIABILITIES

Current LiabilitiesAccounts Payable 19 676 211 2 202 172 21 878 383Retainage Payable 3 311 081 622441 3 933 522Accrued Wages and Benefits Payable 2 610 553 108 759 2 719 312Claims and Judgements Payable 6 455 955 129 631 6 585 586Due to Other Governmental Units 1 130 910 13 643 1 144 553 3 795Accrued Compo Absences Payable 889467 45 313 934 780Note Payable 5 988 5 988

The notes to the financial statements are an integral part of this statementContinued

0 1

MONROE COUNTY FLORIDASTATEMENT OF NET ASSETS CONTINUED

SEPTEMBER 30 2006

ComponentPrimary Government Unit

Governmental Business Type Monroe CountyActivities Activities Total Hsg Fin Auth

Other Current Liabilities 5 853 5 853Deposits in Escrow 55 508 179 726 235 234Unearned Revenue 73 858 19 215 93 073Accrued Interest Payable 24 033 140 205 164 238Capital Leases Payable 433 340 50 000 483 340Revenue Notes Payable 581 630 431 867 1 013497Revenue Bonds Payable 1 205 000 1 205 000

Total Current Liabilities 36459 387 3 942 972 40402 359 3 795

Noncurrent LiabilitiesLandfill Closure and Post Closure 379 288 379 288Note Payable 7478 7478Accrued Camp Absences Payable 6 016 845 301 564 6 318409Capital Leases Payable 401 194 817 270 1 218464Revenue Notes Payable 1 227 141 2422 744 3 649 885Revenue Bonds Payable 16 830 000 30455 000 47 285 000

Total Noncurrent Liabilities 24482 658 34 375 866 58 858 524

Total Liabilities 60 942 045 38 318 838 99 260 883 3 795

NET ASSETS

Invested in Capital Assets Net ofRelated Debt 209 762 788 41 863 606 251 626 394

Restricted

Debt Service 441 853 441 853Capital Projects 35 121 124 35 121 124Special Purposes 42 930 787 5 713 072 48 643 859

Unrestricted 83407 038 23 130 562 106 537 600 51 053

Total Net Assets 371 663 590 70 707 240 442 370 830 51053

The notes to the financial statements are an integral part of this statement

0 2

Functions Proarams

Primary governmentGovernmental activities

General GovernmentPublic SafetyPhysical Environm ent

TransportationEconomic EnvironmentHuman Services

Culture and RecreationCourt Related

Interest on Long Term DebtTotal governmental activities

Business type activitiesSolid Waste

Toll BridgeKey West AirportMarathon Airport

Totai business type activities

Total primary government

Component Unit

Monroe Cnty Hsg Fin Auth

MONROE COUNTY FLORIDASTATEMENT OF ACTIVITIES

FOR THE YEAR ENDED SEPTEMBER 30 2006

ExpensesCharges for

Services

Program Revenues

OperatingGrants and

Contributions

CapitalGrants and

Contributions

39 024 722 11 906 927 208 282122 029 364 8 379 746 49 916 093

8 775 244 1 001 082 413 5668 587 895 327 244 169 236

17 780 225 1 358 255 72 1179 221 347 355 277 1 5074754 827 160 172 712 107 8857 245 797 5 242 898 698 974

548 987

218 040 741 28 744 141 53 093 628

15 429 328 15 734 794 241 4031 297 922 1 166 093

10 927409 3 770 658 6 2214441 735427 748 205 649421

29 390 086 21419 750 7 112 268

247 430 827 50 163 891 60 205 896

2 716 861

59 845

50 000

754 715

3 581421

4 823

3 189 542

222 255

3 416 620

6 998 041

3 100

General Revenues

Taxes

Ad Valorem TaxesTourist Impact Tax

Gas Tax

1 2 Cent Sales TaxOne Cent infrastructure TaxTourist Development TaxOther Taxes

Other State Shared Revenue

Investment Income

MiscellaneousTransfers

Total General Revenues and Trsfs

Change in Net AssetsTotal Net Assets As previously reportedRestatement see Note 7

Total Net Assets Beg Restated

Total Net Assets EndingContinued

The notes to the financial statements are an integral part of this statement

0 3

Net Expense Revenue and Changes in Net Assets

Primary GovernmentGovernmental Business type

Activities Activities Total

ComponentUnit

Monroe CountyHsg Fin Auth

24 192 65263 673 680

7 310 596

7 336 70016 349 853

7 358 595

4 546 5631 303 925

548 987

132 621 551

24 192 652

63 673 680

7 310 596

7 336 700

16 349 853

7 358 595

4 546 563

1 303 925

548 987132 621 551

132 621 551

546 869

127 006

2 254 235

115 5462 558 552

2 558 552

546 869

127 0062 254 235

115 5462 558 552

130 062 999

3 100

71 978 592 71 978 5922 337 667 2 337 667

5442 950 5 442 950

8453 482 8 45348215 201 005 15 201 00513 658 344 13 658 3443 567 410 3 5674103 366 289 3 366 2899 502 953 1 737 753 11 240 706 4976 221 014 28 891 6 249 905

147 818 147 818139 581 888 1 914 462 141496 350 497

6 960 337 4473 014 11433 351 2 603331 808 892 66 234 226 398 043 118 53 65632 894 361 32 894 361

364 703 253 66 234 226 430 937479 53 656371 663 590 70 707 240 442 370 830 51 053

D 4

MONROE COUNTY FLORIDABALANCE SHEET

GOVERNMENTAL FUNDSSEPTEMBER 30 2006

Fine Road GovernmentalGeneral Forfeiture Bridge Grants

AssetsCash and Cash Equivalents 7 252448 10 263 659 6 742 268 3470 093Investments 7 922410Accounts Receivable Net 70 352 1 953 78Due from Other Funds 7 437 670 821 924 1 391 1 626 112Due from Other Governmental Units 411 563 459 309 513 978 1 592 094Mortgages Notes Receivable 49 940

Allowance for Mortgages Notes Receivable 49 940Interest Receivable 50 589Inventory 3 902

Total Assets 23 148 934 11 546 845 7 257 637 6 688 377

liabilities and Fund BalancesLiabilities

Accounts Payable 2416 059 85 270 85 786 8 626475Retainage Payable 9 101 221 906 1 713 457Accrued Wages and Benefits Payable 1 850 984 20 512 69 162 53452Due to Other Funds 1 399 359 101 134 833 735 4 073 369Due to Other Governmental Units 215 860 130 004 75 263Other Current Liabilities 4 758Deposits in Escrow 55 106Deferred Revenues

4 963Total Liabilities 5 951 227 206 916 1 340 593 14 546 979

Fund BalancesReserved for

Encumbrances 66462 4 800 163 459 278 264Land AcquisitionMortgage LoansDebt Service

Unreserved Designated for Spec Rev FundUnreserved Undesignated 17 131 245 11 335 129 5 753 585 8 136 866Unreserved report in nonmajorSpecial Revenue FundsCapital Project Funds

Total Fund Balances 17 197 707 11 339 929 5 917 044 7 858 602

Total Liabilities and Fund Balances 23 148 934 11 546 845 7 257 637 6 688 377

The notes to the financial statements are an integral part of these statements

E 1

InfrastructureOne Cent Sales Surtax Nonmajor Total

HIDTA Infrastructure Revenue Bonds Governmental GovernmentalGrants Surtax Series 2003 Funds Funds

172 197 20 501 061 9 673488 77 288 621 135 363 83512 926 037 3 515 345 24 363 792

473 939 546 3224 033 628 1 889 537 15 810 262

1 955 994 1 127 109 2 519 818 8 579 865914 285 10 854 402 11 818 627914 285 4 099 839 5 064 064210 923 65 399 51 555 378 466

3 9022 128 191 38 798 758 13 254 232 88 978 033 191 801 007

1 564 700 160 028 1 216 211 4 926 326 19 080 855732 309 553 199 81 109 3 311 081

147 977 13 595 15 545 390 602 2 561 829263 461 1 141 149 6 357 529 14 169 736150 328 529 962 1 101 417

4 758402 55 508

1 725 826 084 832 7722 128 191 2 047 081 1 784 955 13 112 014 41 117 956

44 666 1 027 376 127 957 1 712 9842 791 423 2 7914236 754 563 6 754 563

975 156 975 156441 853 441 853

36 707 011 10441 901 73 232 005

64 686 064 64 686 06489003 89 003

36 751 677 11 469 277 75 866 019 150 683 051

2 128 191 38 798 758 13 254 232 88 978 033 191 801 007

E 2

MONROE COUNTY FLORIDARECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO

STATEMENT OF NET ASSETSFOR THE YEAR ENDED SEPTEMBER 30 2006

Amounts reported for governmental activities in the Statement of Net Assets are different because

Ending fund balance total governmental funds 150 683 051

Capital assets used in governmental activities are not financial resources andtherefore are not reported in the governmental funds net of accumulated

depreciation of 58 647 014 215 920 848

Deferred charges bond note issuance costs used in governmental activitiesare amortized over the life of the debt and are not financial resources

Therefore they are not reported in the overnmental funds

Deferred revenues are reported in the governmental funds as they are notcurrent financial resources They are reported as revenues in the Statement ofNet Assets

385448

8 778 692

Long term liabilities are not due and payable in the current period andtherefore are not reported in the governmental funds

Note PayableRevenue Notes PayableRevenue Bonds PayableCapital Leases PayableAccrued Interest PayableAccrued Compensated Absences

Total

13 4661 808 771

18 035 000834 534

24 0336 779 987

27495 791

The Assets and Liabilities of the Internal Service Funds funds are used to

charge the costs of insurance and fleet maintenance activities to individualfunds are not reported in the Governmental Funds

Net Assets of governmental activities

23 391 342

371 663 590

The notes to the financial statements are an integral part of this statementE 3

THIS PAGE INTENTIONALLY LEFT BLANK

MONROE COUNTY FLORIDASTATEMENT OF REVENUES EXPENDITURES AND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

Fine Road GovernmentalGeneral Forfeiture Bridge Grants

RevenuesTaxes 19 209 205 41 442 400 1 582487Licenses and Permits 353 804

Intergovernmental 9 580 034 63 874 3 805 348 16 189 785Charges for Services 6 756 235 1 597 559 115 408 205 983Fines and Forfeitures 2 985 376 369Investment Income 1 200 596 769 610 402 689 132 573Miscellaneous 900 201 546 786 66 022 632 759

Total Revenues 38 003 060 44 796 598 5 971 954 17 161 100

ExpendituresCurrent

General Government 25 725 973 507 711Public Safety 47 362 710 7461 512 25 562414Physical Environment 659 895 1 410 636Transportation 46 284 7 773 240 1 576432Economic Environment 1 068 937Human Services 6 810 877 1 783 216Culture and Recreation 3 075 295 107 885Court Related 2 521 497 48 538 33 270

Capital ProjectsDebt Service 222 831

Total Expenditures 87 494 299 8 017 761 7 773 240 30473 853

Excess Deficiency of RevenuesOver Under Expenditures 49 491 239 36 778 837 1 801 286 13 312 753

Other Financing Sources UsesTransfers from Other Funds 44 974 197 4 078 000 4 665 577Transfers to Other Funds 6 051 037 37 683 983 832 289Proceeds from Sale of Capital Assets

Total Other Financing Sources Uses 38 923 160 33 605 983 832 289 4 665 577

Net Change in Fund Balances 10 568 079 3 172 854 2 633 575 8 647 176

Fund Balances October 1 27 765 786 8 167 075 8 550 619 788 574

Fund Balances September 30 17 197707 11 339 929 5 917 044 17 858 602


E 4

Infrastructure

One Cent Sales Surtax Nonmajor TotalHIDTA Infrastructure Revenue Bonds Governmental GovernmentalGrants Surtax Series 2003 Funds Funds

15 201 005 30 310 508 107 745 6052 571 874 2 925 678

20 777 250 14 747 369 65 163 660284 101 9 773 996 18 733 282

2 923 774 3 303 1281 491 068 676 808 3 594 816 8 268 160

1 381 843 3 527 61120 777 250 16 976 174 676 808 65 304 180 209 667 124

7 614 245 33 847 92920 723 500 24 332 929 125443 065

2 900 134 4 970 665767 857 10 163 813

16 732 898 17 801 835462407 9 056 500

1 518 284 4 7014644 388 894 6 992 199

11 553 537 8 518 487 2 700 20 074 72453 750 2 796 366 3 072 947

20 777 250 11 553 537 8 518487 61 516 714 236 125 141

5422 637 7 841 679 3 787 466 26458 017

153 189 4 317 992 58 188 9558 248 557 5 165 221 57 981 087

1 135 742 1 135 7428 248 557 153 189 288 513 1 343 610

2 825 920 7 688490 4 075 979 25 114407

39 577 597 19 157 767 71 790 040 175 797458

36 751 677 11469 277 75 866 019 150 683 051

E 5

MONROE COUNTY FLORIDARECONCILIATION OF THE STATEMENT OF REVENUES EXPENDITURES

AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDSTO THE STATEMENT OF ACTIVITIES


Amounts reported for governmental activities in the Statement of Activities are different because

Net change in fund balances total governmental funds 25 114407Governmental funds report capital outlays as expenditures However in theStatement of Activities the cost of those assets is allocated over their estimateduseful lives and reported as depreciation expense This is the amount by whichcapital outlays of 29 515 588 exceeded depreciation of 8 076 202 in the currentoeriod 21439 386

Governmental funds do not report donated capital assets as they do not providecurrent financial resources Governmental activities report donated assets at thefair market value 937444

Governmental funds only report the disposal of assets to the extent proceeds arereceived from the sale In the Statement of Activities transfers of property toother governmental agencies are reported as expenses 3 926 693

Payment of long term debt is reported as an expenditure on the governmentalfunds as current financial resources are used but a reduction of long term 2 380 105liabilities in the Statement of Net Assets

The change in compensated absences is reported in the Statement of Activitiesand is not reported in governmental funds as current financial resources are notused 1 064 418

Governmental funds report the effect of issuance costs premiums discountsand similar items when debt is first issued whereas these amounts are deferredand amortized in the Statement of Activities In addition interest and otheraccruals not using current financial resources is reported as governmentalactivities The amount is the net effect of these transactions 37 680

Revenues that do not provide current financial resources are not reported on

governmental funds However revenues that are earned in the current period are

reported in the Statement of Activities 7 610 689

Net revenues of internal service funds funds used to charge the costs of certainactivities to individual funds are reported with governmental activities 6 610 799

Change in net assets of governmental activities 6 960 337

The notes to the financial statements are an integral part of these statementsE 6


GENERAL FUND

STATEMENT OF REVENUES EXPENDITURES AND CHANGES IN

FUND BALANCES BUDGET AND ACTUAL


Variance with

Final BudgetOriginal Final Positive

Budget Budget Actual NegativeREVENUES

Taxes 19 369 558 19 369 558 19 209 205 160 353Licenses and Permits 300 000 300 000 353 804 53 804

Intergovernmental 9 871 639 9 586 027 9 580 034 5 993

Charges for Services 6 196443 5 891461 6 756 235 864 774

Fines and Forfeitures 2 985 2 985Investment Income 500 000 500 000 1 200 596 700 596Miscellaneous 280 000 442 164 900 201 458 037

Total Revenues 36 517 640 36 089 210 38 003 060 1 913 850

EXPENDITURESCurrent

General GovernmentBoard ofCounty Commissoners 1 557 670 1 557 670 1 485 855 71 815

County Administrator 566 588 644 434 635 890 8 544

Strategy Policy 51 974 32 347 19 627

Public Works Management 166 838 166 838 161 569 5 269

Community Services Management 218464 279 976 282 093 2 117

County Attorney 1 355 242 1 555 242 1 372438 182 804

Office of Management Budget 581 805 585 074 570 306 14 768

Technical Services 1 599 691 1 574 685 1 559 266 15 419

Technology Replacement 400 000 400 000 371 018 28 982File Management Services 181 204 29412 151 792

Grants Administration 232 623 220 209 181 525 38 684Personnel 426 016 435 161 433 884 1 277Vehicle Replacement 382456 53 012 53 012Public Works Facilities Maintenance 5 763 705 6 240 771 5 909 705 331 066ADA Compliance 155 000 55 000 13 283 41 717Value Adjustment Board 25 000 25 000 20 530 4470Community Services Marine Projects 123 155 123 155 120 972 2 183

Promotional Advertising 5 000 5 000 4 980 20Tax Increment Payment 200 000 212 837 212 837

Quasi External Services 46 000 62 600 70 988 8 388Clerk to BOCC Financial Package 5 000 5 000 480 4 520

The notes to the financial statements are an integral part of these statementsContinued

E 7


GENERAL FUND


FUND BALANCES BUDGET AND ACTUAL CONTINUEDFOR THE YEAR ENDED SEPTEMBER 30 2006

Variance with

Final BudgetOriginal Final PositiveBudget Budget Actual Negative

Tax Collector 4 219 232 4 222 133 3 930 491 291 642

Property Appraiser 4 196 888 4 201 969 3 603 062 598 907

Supervisorof Elections 1 223 814 1 223 814 1 204 521 19 293Insurances Supervisor of Elections 126 343 129 078 129 078

Gov t Enterprise Management System 35 000 35 000 26 700 8 300Sterling Award Program 235 500 356 500 354 040 2460Clerk of the Court Recording 552 295 552 295 514 599 37 696Clerk of the Court Finance 1 419 964 1419 964 1 415 586 4 378Clerk of the Court Internal Audit 229 556 229 556 154 133 75423Clerk of the Court Info Systems 678 546 678 546 536 201 142 345Tourist Tax Audit 187 851 187 851 169 932 17 919Non Court Administration 109 783 109 783 102 875 6 908Non Court Records Management 122 215 122 215 115 377 6 838

Total General Government 27 147 240 27 903 546 25 725 973 2 177 573

Public SafetyHurricane 10 000 757 047 748 397 8 650Communications 478 862 478 862 376 049 102 813

Emergency Management 294 015 334 695 330 946 3 749Marathon Emer Operations Center 50 509 50 509 49 924 585Medical Examiner 564 642 564642 555 497 9 145American Red Cross Lower Keys 30 000 30 000 30 000Sheriff 42 191 077 45 566 803 45 063 635 503 168Fire Academy 272422 255 221 208 262 46 959

Total Public Safety 43 891 527 48 037 779 47 362 710 675 069

Physical EnvironmentExtension Service 275 356 292 326 271 038 21 288

Upper Keys Wild Bird Ctr 20 000 20 000 20 000

Marathon Wild Bird Ctr 14 000 14 000 13 889 111Exotic Wild Bird Rescue 14 000 14 000 13 822 178Land Steward 84 376 84 376 63 996 20 380Hazardous Waste 244 562 279 078 277 150 1 928

Total Physical Environment 652 294 703 780 659 895 43 885

TransportationCounty Engineer 118 280 118 280 46 284 71 996

ContinuedThe notes to the financial statements are an integral part of these statements

E 8


GENERAL FUND


FUND BALANCES BUDGET AND ACTUAL CONTINUED


Variance with


Budget Budget Actual Negative

Economic Environment

Literacy Volunteers of America 12 000 12 000 12 000

Affordable Housing Initiatives 607 543 434 704 172 839Land Acquisition Appraisals 30 000 10 000 20 000Veteran s Affairs 486 800 486 800 477 050 9 750Veteran s Affairs Transportation 154 048 154 048 135 183 18 865

Total Economic Environment 652 848 1 290 391 1 068 937 221 454

Human ServicesHealth Care Respite Act 90 000

Hospice of the Florida Keys 50 000 50 000 50 000Public Works Animal Shelter 885 997 886 670 886 389 281

Bayshore Manor 636 481 642481 614 561 27 920Middle Keys Guidance Clinic 385 961 385 961 385 961Middle Keys Guidance Clinic 46 179 46 179 46 179

Middle Keys Guidance Clinic 86 287 86 287 86 287

Middle Keys Guidance Clinic 328 627 328 627 300 103 28 524Care Center for Mental Health 345 000 345 000 310 313 34 687

Monroe Cnty Assoc for Retarded Citizens 194 868 194 868 194 868Heron Peacock 60 000 60 000 60 000Older Americans Volunteer Program 2 500 2 500 361 2 139Welfare Administration 824 052 832 920 754409 78 511Welfare Services 522 500 762 500 611 627 150 873Caring Friends for Seniors 5 000 5 000 4 793 207

Big Brothers Big Sisters 30 000 30 000 30 000Florida Keys Children s Shelter 220 000 220 000 220 000

Wesley House 172 100 172 100 172 100Pace 30 000 30 000 30 000MCEF Monroe Youth Challenge 25 000 25 000 25 000

Helpline 20 000 20 000 20 000Domestic Abuse Shelter 40 000 40 000 40 000

Florida Keys Outreach Coalition 68 856 68 856 68 856

Healthy Kids Program 46440 49 753 49 751 2Habitat for Humanity 21 246 21 246 6 992 14 254Samuel s House 90 000 90 000 90 000Youth Summer Rec 40 000 40 000 31423 8 577DePoo Baker Act 200 000 200 000 200 000Womankind 55 000 55 000 55 000Rural Health Network 300 000 300 000 299 991 9Rural Health Network STD 100 000 100 000 99 300 700

ContinuedThe notes to the financial statements are an integral part of these statements

E 9


GENERAL FUNDSTATEMENT OF REVENUES EXPENDITURES AND CHANGES IN


Variance with


Social Service Transportation 1 171 800 1 187 025 1 077 764 109 261Catholic Charities 10 000 10 000 9 941 59Just for Kids 25 000 25 000 25 000

Aids Help 36 000 36 000 34 631 1 369Center for Independent Living 5 000 5000 5 000Fountains of Living 5 000 5 000 5 000Good Health Clinic 17 995 17 995 17 277 718Grace Jones Community Ctr 80 000 80 000 80 000FI Keys Area Hlth Educ Ct 12 000 12 000 12 000

Total Human Services 7 284 889 7 468 968 6 810 877 658 091

Culture and RecreationHeart of the Keys Recreation 40 000 40 000 40 000Big Pine Athletic Association 45 000 45 000 45 000

Boys and Girls Club 50 000 50 000 50 000

Upper Keys YMCA 15 000 15 000 15 000

Higgs Beach Maintenance 37 100 37 980 37 949 31Lower Keys AARP 5 000 5 000 3 930 1 070Middle Keys AARP 5 000 5000 4 057 943

Big Pine Key AARP 5 000 5000 4 475 525Fine Arts Council 120 000 120 000 119 789 211Historic Keys Foundation 30 000 30 000 30 000

Upper Keys Community Pool 225 000 225 000 225 000Art Behind Bars 2 500 2 500 2 500

Library Admin Support 515 185 514 526 506 442 8 084

Library Key West 763 060 763 060 712 890 50 170Library Key West Donations 115 753 59 746 56 007

Library Marathon 350 781 350 781 320 733 30 048

Library Marathon Donations 26 125 20 892 5 233

Library Islamorada 301 458 301 458 264 800 36 658Library Islamorada Donations 1 062 16 1 046

Library Key Largo 384 627 384 627 358 955 25 672Library Key Largo Donations 6 071 6 071

Library Big Pine Key 250 526 250 526 245 394 5 132Library Big Pine Key Donations 13 154 7 727 5427

Total Culture and Recreation 3 145 237 3 307 623 3 075 295 232 328

ContinuedThe notes to the finanCial statements are an Integral part of these statementsE 10

MONROE COUNTY FLORIDAGENERAL FUND


FUND BALANCES BUDGET AND ACTUAL CONTINUED


Variance with


Budget Budget Actual Negative

Court RelatedLaw Library 76 975 77 636 77 636

Guardian Ad Litem 180448 180 448 142 676 37 772

State Attorney 261 643 261 643 220 903 40 740

Public Defender 532 279 532 279 506 637 25 642

Court Administration 13 734 13 734 13 124 610

Court Admin Judicial Support 169 966 169 966 154 691 15 275

Court Admin StaffAttorney 5 802 5 802 3416 2 386Court Admin Article V Resid Conting 18 375 18 375 12495 5 880

Court Admin Circuit Ct Reporter SVC5 4 574 4 574 4 234 340

Court Admin Circuit Drug Court 500 211 500 211 482 014 18 197

Court Admin Pretrial Release 528 727 528 727 484 280 44 447

Ct Admin Other Circuit Ct Criminal Co 913 913 913

Court Admin Family Ct Case Mgmt 137 085 137 085 123 387 13 698

Ct Admin Other Circuit Court Juvenile 77 939 77 939 69 358 8 581

Court Admin Information Systems 253 838 253 836 225 733 28 103

Total Court Related 2 762 509 2 763 168 2 521497 241 671

Debt Service

Principal 157 025 205 879 194 446 11 433

Interest 26 780 30 172 28 385 1 787

Total Debt Service 183 805 236 051 222 831 13 220

Total Expenditures 85 838 629 91 829 586 87 494 299 4 335 287

Excess Deficiency of Revenues

Over Under Expenditures 49 320 989 55 740 376 49 491 239 6 249 137

ContinuedThe notes to the financial statements are an Integral part of these statements

E 11

MONROE COUNTY FLORIDAGENERAL FUND

STATEMENT OF REVENUES EXPENDITURES AND CHANGES INFUND BALANCES BUDGET AND ACTUAL CONTINUED


Variance with


Other Financing Sources Uses

Reserve for Contingencies 3 938 030 641 320 641 320Transfers from Other Funds 41 169 438 45 883 115 44 974 197 908 918Transfers to Other Funds 1 537 288 6 094 195 6 051 037 43 158

Total Other Financing Sources Uses 35 694 120 39 147 600 38 923 160 224440


Fund Balances October 1 27 765 786 27 765 786 27 765 786

Fund Balances September 30 14 138 917 11 173 010 17 197 707 6 024 697

The notes to the financial statements are an inte9ral part ofthese statementsE 12

MONROE COUNTY FLORIDAFINE AND FORFEITURE SPECIAL REVENUE FUND

STATEMENT OF REVENUES EXPENDITURES AND CHANGES INFUND BALANCES BUDGET AND ACTUAL


Variance withFinal Budget

Original Final PositiveBudget Budget Actual Negative

REVENUESTaxes 43 275 895 43 275 895 41 442400 1 833495Intergovernmental 20 000 20 000 63 874 43 874Charges for Services 1 875 000 1 875 000 1 597 559 277441Fines and Forfeitures 376 369 376 369Investment Income 200 000 200 000 769 610 569 610Miscellaneous 15 000 911 276 546786 364490

Total Revenues 45 385 895 46 282 171 44 796 598 1485 573

EXPENDITURESCurrent

General GovernmentTax Increment Payment 400 000 507 711 507 711Vehicle Replacement 39 661 39 661 39 661

Total General Government 439 661 547 372 507 711 39 661

Public SafetySheriff s Group Insurance 5 061 820 5 061 820 4498 293 563 527Bond Refunds 50 000 50 000 4 689 45 311LEEA Funds 75 000 75 000 75 000Jail Operations 138 967 138 967 137 915 1 052Public Works Correction Facilities 1 743 943 1 743 943 1 462 009 281 934Teen Court 50 000 90 000 35 609 54 391MCSO Grants 865 750 865 750Juvenile Detention Cost Share 300 000 385 600 382 247 3 353

Total Public Safety 7419 730 8411 080 7461 512 949 568

Court RelatedSheriff Extradition 76 000 76 000 48 538 27462


Excess Deficiency of RevenuesOver Under Expenditures 37450 504 37 247 719 36 778 837 468 882


Continued

MONROE COUNTY FLORIDAFINE AND FORFEITURE SPECIAL REVENUE FUND





Other Financing Sources UsesReserve for Contingencies 788 679 578 701 578 701Transfers from Other Funds 4 118 000 4 078 000 40 000Transfers to Other Funds 36419 438 40 544 631 37 683 983 2 860 648

Total Other Financing Sources Uses 37 208 117 37 005 332 33 605 983 3 399 349

Net Change in Fund Balances 242 387 242 387 3 172 854 2 930467


Fund Balances September 30 8409 462 8409 462 11 339 929 2 930467


E 14

MONROE COUNTY FLORIDAROAD AND BRIDGE SPECIAL REVENUE FUND


FUND BALANCES BUDGET AND ACTUALFOR THE YEAR ENDED SEPTEMBER 30 2006


Original Final Positive

Budget Budget Actual NegativeRevenues

Taxes 1 325 000 1 325 000 1 582487 257487Intergovernmental 3 350 000 3 350 000 3 805 348 455 348

Charges for Services 18 000 18 000 115 408 97408Investment Income 175 000 175 000 402 689 227 689Miscellaneous 20 000 20 000 66 022 46 022

Total Revenues 4 888 000 4 888 000 5 971 954 1 083 954

ExpendituresCurrentGeneral Government

Vehicle Replacement 459 592 192459 192459Total General Government 459 592 192459 192 459

TransportationRoad Department 3 289 091 3 738 014 3 288 383 449 631

County Engineer Road and Bridge 914 714 747421 648 006 99415Street Lighting 192 396 192 396 163 268 29 128Local Option Gas Tax Projects 400 000 400 000 150 488 249 51280 Gas Tax 3 376 542 3 968 533 3 364401 604 132In House Projects 365 000 365 000 158 694 206 306Marathon Roads 897 529 64 775 64 775Islamorada Roads 318 000 318 000 318 000

Total Transportation 9 753 272 9 794 139 7 773 240 2 020 899


Excess Deficiency of RevenuesOver Under Expenditures 5 324 864 5 098 598 1 801 286 3 297 312

Other Financing Sources UsesReserve for Contingencies 225 827 25827 25 827Transfers to Other Funds 606 023 1 032 289 832 289 200 000

Total Other Financing Sources Uses 831 850 1 058 116 832 289 225 827





E 15

MONROE COUNTY FLORIDAGOVERNMENTAL GRANTS SPECIAL REVENUE FUND





Revenues

Intergovernmental 38 626 802 16 189 785 22437 017Charges for Services 162 337 205 983 43 646Investment Income 4 106 132 573 128 467Miscellaneous 78 994 632 759 553 765

Total Revenues 38 872 239 17 161 100 21 711 139


Grant Match 600 000 294 850 294 850

Public SafetyFEMA Tropical Storm Mitch 24 794 24 794Emergency Management Base Grant 132 780 132 780Radiological Emerg Preparedness 156 822 124 833 31 989EMS Award Grant 125 680 59 846 65 834EGC Enhancements 25 352 1 440 23 912EGC Security Improvement 115 743 31 016 84 727Sheriffs Livescan Grant 115 296 115 293 3Homeland Security Grant 36 322 36 322FEMA Hurricane Dennis 1 886 177 965461 920 716FEMA Hurricane Katrina 1 977 098 1 179 631 797467FEMA Hurricane Rita 1 568 781 944 078 624 703FEMA Hurricane Wilma 30 000 000 22 008 036 7 991 964


Physical EnvironmentStormwater Improvement 57 080 25400 31 680Stormwater Master Plan 20 304 9 899 1 0405Sanitary Wastewater Master Plan 24 800 24 800Homeowners Wastewater Assistance 940 241 831 132 109 109Community Development Block Grnt 760 629 364 508 396 121Exotic Plant Control Svc 426 896 72 564 354 332Public Water Access 66 000 66 000Clean Vessel Act LE 507 288 280 28 539 259 741Boat Ramp Repairs 1 360 000 1 360 000Boat Ramp Public Launch Fac Plan 46 660 12 594 34 066



E 16

Continued






Budget Budget Actual NegativeTransportation

S FI Water Mgmt Dist Grant Stormwater 400 000 400 000Transportation Study Plan Update 559 919 180 349 379 570Safety Improvement Heritage Trail 928 171 894 922 33 249Florida Keys Scenic Hwy Planning 28 865 28 865Bicycle Pedestrian Plan 2 99 287 26 767 72 520Overseas Heritage Trail 723 659 360 944 362 715Scenic Highway Interpretive 113 450 113450

Total Transportation 2 853 351 1 576 432 1 276 919

Economic EnvironmentAffordable Housing Coordinator 45 081 45 081

Human ServicesResidential Substance Abuse Treatment 163 675 66 667 97 008Title III B Homemaker 2005 67 759 67 135 624Title III B Homemaker 2006 79 600 68 524 11 076Title III C1 2005 130 661 102 244 28 417

Title III C1 2006 130 950 104 379 26 571Title III C2 2005 155 279 120 251 35 028Title III C2 2006 144 192 133 880 10 312Title III E 2005 22 307 17 058 5 249Title III E 2006 46 301 27 228 19 073Alzheimer s Disease Initiative 05 06 65435 58 139 7 296Alzheimer s Disease Initiative 06 07 66488 23 572 42 916Community Care for Disabled Adults 05 06 77 668 61 745 15 923Community Care for Disabled Adults 06 07 81 733 25 216 56 517

Community Care for the Elderly 06 07 487 837 173 740 314 097

Community Care for the Elderly 05 06 488 287 422 779 65 508Home Care for the Elderly 06 07 51 544 1 267 50 277Home Care for the Elderly 05 06 4 714 82 4 632Boys and Girls Club 28 690 16 975 11 715US Fellowship of Florida 66 504 66 504MC Education Foundation 39 620 39 620Low Income Home Energy Program 2005 59 931 53 498 6 433Low Income Home Energy Program 2006 172 872 84 395 88477Care Center Mental Health 56 764 48 318 8 446

Total Human Services 2 688 811 1 783 216 905 595


Continued






Culture and RecreationState Aid to Libraries 107 885 107 885

Court Related

Juvenile Drug Court LLEBG 2003 21 020 5450 15 570Juvenile Drug Court LLEBG 2004 28 942 27 820 1 122

Total Court Related 49 962 33 270 16 692

Total Expenditures 600 000 46 195 675 30473 853 15 721 822


Other Financing Sources UsesReserve for Contingencies 175 000 166718 166 718Transfers from Other Funds 10 723 436 4 665 577 6 057 859Transfers to Other Funds 4 008 282 4 008 282


Net Change in Fund Balances 775 000 775 000 8 647 176 7 872 176

Fund Balances October 1 788 574 788 574 788 574

Fund Balances September 30 13 574 13 574 7 858 602 7 872 176


MONROE COUNTY FLORIDASHERIFF S HIDTA GRANT SPECIAL REVENUE FUND



REVENUES

IntergovernmentalTotal Revenues

OriginalBudget Actual

Final

Budget

20 210 50020 210 500

20 777 535 20777 25020 777 535 20 777 250

EXPENDITURESCurrent

Public SafetyDebt Service

Total Expenditures

20 165 500

45 00020 210 500

20 723 78553 750

20 777 535

20 723 50053 750

20 777 250

Net Change in Fund Balances

Fund Balances October 1

Fund Balances September 30


E 19


Positive

Negative

285

285

285

285

MONROE COUNTY FLORIDASTATEMENT OF NET ASSETS

PROPRIETARY FUNDSSEPTEMBER 3D 2006

MunicipalSvc District

Waste

Business type Activities Enterprise Funds

Major FundsCard

Sound

Bridge

KeyWest

AirportASSETS

Current AssetsCash and Cash EquivalentsAccounts Receivable NetDue from Other Funds

Due from Other Governmental UnitsInterest Receivable

Total Current Assets

9 598479 10 055 325 1457 681420 140 45 497 12572 090 57914 604 371 3 444 101

91910 106 232 10 055 741 5 399486

1 790 740 35 116 55317465 693 278

3 629 620 50 000 7 635 075172 650 5 263 077 16411 951

5 610475 5 313 077 59 856 857

15 716 707 15 368 818 65 256 343

Noncurrent AssetsRestricted Cash and Cash EquivalentsDeferred Charges Net

Land and Other Nondepreciable Assets

Capital Assets Net of Accum DepreciationTotal Noncurrent Assets

Total Assets

LIABILITIESCurrent Liabilities

Accounts PayableRetainage PayableAccrued Wages and Benefits PayableClaims and Judgements PayableDue to Other FundsDue to Other Governmental UnitsAccrued Interest PayableAccrued Compo Absences PayableCapital Leases PayableOther Current Liabilities

Deposits in EscrowUnearned RevenueNotes PayableAccrued Interest Payable

Total Current Liabilities

1 132 500 23 201

28 111

129 631377 121

682

5045912 63150 000

18 696

672 227

62244155413

133 835 955 663

10 226

14 949 5 544

160 53818 922

431 867

12 267

2 392462 190 68189 746

2 423 527


E 20

Governmental

Major Funds ActivitiesInternal

Marathon ServiceAirport Total Funds

676 694 21 788 179 29 578 68845 924 963 234 43 088

8 841 81 510 241 159589493 4 048 569 336422

919 1 2251 320 952 26 882411 30 200 582

36 907 293

710 743845 598 12 160 293 54 000

11 577 516 33425 194 1 290 87812423 114 83 203 523 1 344 878

13 744 066 110 085 934 31 545460

Continued

E 21

MONROE COUNTY FLORIDASTATEMENT OF NET ASSETS CONTINUED

PROPRIETARY FUNDSSEPTEMBER 30 2006


Waste


Major FundsCard

Sound

Bridge

KeyWest

AirportNoncurrent Liabilities

Closure post closure costs

Accrued Camp Absences PayableCapital Leases PayableNotes PayableRevenue Bonds Payable

Total Noncurrent Liabilities

379 288120 244817 270

2422 744

42 541 125 749

3 739 546 42 54130455 000

30 580 749

Total Liabilities 6 132 008 233 222 33 004 276

NET ASSETSInvested in Capital Assets Net of Related DebtRestrictedUnrestricted

80 3891 790 7407 713 570

5 313 077 24 047 0263 922 3324 282 7099 822 519

Total Net Assets 9 584 699 15 135 596 32 252 067

Adjustment to reflect the consolidation of internal serviceactivities related to enterprise funds


E 22

541 339

70 707 240

E 23

MONROE COUNTY FLORIDASTATEMENT OF REVENUES EXPENSES AND

CHANGES IN FUND NET ASSETSPROPRIETARY FUNDS



Major FundsCard

Sound

Bridge


Waste

Operating RevenuesFranchise Fees

Charges for Services

Fines and ForfeituresMiscellaneous

Total Operating Revenues

248 832

15485 962

4 139

15 738 933

Operating ExpensesPersonnel Services

OperationsDepreciation and AmortizationAsserted and Paid Claims

Total Operating Expenses

875 782

14488 30344 810

15408 895

Operating Income Loss 330 038

Nonoperating Revenues ExpensesOperating GrantsGrant and Donations Other SourcesOther Income PFCInvestment IncomeGain Loss on Disposition of AssetsInterest Expenses and Fiscal Charges

Revenues Expenses

19140350 000

638 746

2 857121 975

755 317

Income Loss BeforeContributions and Transfers 1 085 355

Transfers from Other FundsTransfers to Other Funds

Capital Grants and Contributions375 730

Change in Net Assets 709 625

Total Net Assets October 1 8 875 074

Total NetAssets September 30

KeyWest

Airport

1 166 093 3 765 121

5 53710 536

1 166 093 3 781 194

585 255427 712

321 332

1 334 299

168 206

466406

466406

298 200

132 0624 823

170 961

14 964 635

1417 4748 521 071

788492

10 727 037

6 945 843

6 221444

1 013 697591 209

855257 125

7 568 370

622 527

1 000 000221 280

2 175 845

3 577 092

28 674 975

9 584 699 15 135 596 32 252 067

Adjustment to reflect the consolidation of internal service activities related to enterprise funds

Change in Net Assets of Business type Activities


E 24

Governmental

Major Funds ActivitiesInternal

Marathon Service

Airport Total Funds

248 832748 205 21 165 381 20 896 996

5 53714 216 28 891 3 627 729

762421 21 448 641 24 524 725

214 912 3 093423 1 397 5161 030 212 24467 298 4413 298

519 763 1 674 397 79 30512 635 949

1 764 887 29 235 118 18 526 068

1 002 466 7 786477 5 998 657

649421 7 062 26850 000

1 013 69741 392 1 737 753 1 234 793

303 4 015 64 624379 100

690 510 9480 603 1 170 169

311 956 1 694 126 7 168 826

11 466 1 011466134 576 863648 355 686222 255 2402 923 30 210

212 811 4 244 867 6 843 350

13406 350 17 089 331

13 193 539 23 932 681

228 147

4473 014

E 25

MONROE COUNTY FLORIDASTATEMENT OF CASH FLOWS

PROPRIETARY FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006


Major Funds

Municipal Card KeySvc District Sound West

Waste Bridge AirportOperating Activities

Cash received for services 15 684 299 1 165 677 3 567 808Cash recvd from other funds for goods and svcs

Cash payments to suppliers for goods and svcs 15 135 185 359 795 9 620 647Cash payments to employees for services 595 138 457 093 953439Cash payments to other funds 342 334 157 248 273 063Other operating revenue 4 139 10 536

Net Cash Provided by Used in

Operating Activities 384 219 191 541 7 268 805

Noncapital Financing Activities

Operating grants received 191403 6 349449Transfers from other funds 1 000 000Transfers to other funds 465 330 244 496 173 303Other Income PFC 1 013 697

Net Cash Provided Used by NoncapitalFinancing Activities 273 927 244496 8 189 843

Capital and Related Financing ActivitiesProceeds from capital grants 1 940 875Acquisition of capital assets 96 022 4 020 2 028 762Principal paid on capital debt 416 935Interest paid on capital debt 129441 860 657Capital contributions 72 338Proceeds from sale of capital assets

Proceeds from issuance of capital debt 30455 000Net Cash Provided Used by Capital and

Related Financing Activities 642 398 4 020 29 578 794

Investing Activities

Investment income 637 827 466406 591 209Net Cash Provided fUsed in Investing Activities 637 827 466 406 591 209

Net Increase Decrease in Cash and

Cash Equivalents 662 717 409431 31 091 041

Cash and Cash EquivalentsOctober 1 12 051 936 9 645 894 5483 193

September 30 11 389 219 10 055 325 36 574 234


E 26

Continued

E 27

MONROE COUNTY FLORIDASTATEMENT OF CASH FLOWS CONTINUED

PROPRIETARY FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

Reconciliation ofoperating income Iossto net cash provided by used in operatingactivities

Operating income Ioss

Adjustments to reconcile operating income Iossto net cash provided by used in operatingactivities

Depreciation and Amortization

Change in Assets and LiabilitiesIncrease Decrease in Accounts receivable

Increase Decrease in Due from other funds

Increase Decrease in Due from other gov t units

Increase Decrease In Accounts payableIncrease Decrease in Accrued wages benefits

Increase Decrease in Claims judgments payableIncrease Decrease in Due to other funds

Increase Decrease in Due to other gov t units

Increase Decrease in Comp absences payableIncrease Decrease in Other current Ilabiliities

Increase Decrease in Deposits in escrow

Increasel Decrease in Landfill Closure CostsIncrease Decrease in Deferred revenue

Total adjustments

Net Cash Provided by Used in

Operating Activities

Noncash investing capital and financing activitiesContribution of capital assets from gov t

Loss on disposition of assets

Forgiveness of capital lease amount

Cash Reconciliation

UnrestrictedRestricted

Total


Major FundsCard

Sound

Bridge


Waste

330 038 168 206

44 810

KeyWest

Airport

6 945 843

321 332 788492

45 205 314

579371 2 464

17 869 395 752

7 632 26 356

384 219 191 541 7 268 805

4 823

2 857 855

50 000

9 598479 10 055 325 1457 681

1 790 740 35 116 553

11 389 219 10 055 325 36 574 234

22 048

64 175

26 964

707 982

9 036

1

2848712 631

4 81710 158

11 048

18 922714 257

1 618

14 948

359 747


E 28

544 173

5 544

322 962

Marathon

Airport Total

Governmental

ActivitiesInternalService

Funds

Major Funds

1 002466 7 786477 5 998 657

519 763 1 674 397 79 305

6 963 234 370 24 367

64 754 14738 841 20 216 157 799

225 631 860 234 282 180750 43 774 16 632

1 126 305

95 753380 573 898 1 264

12 188 45 311 14 8594 817 6 040

10 158

11 048

18 922

742 908 65436 235 531

259 558 7 721 041 6 234 188

4 823 30 210

303 4 015 62 119

50 000

676 694 21 788 179 29 578 688

36 907 293

676 694 58 695472 29 578 688

E 29

MONROE COUNTY FLORIDASTATEMENT OF FIDUCIARY NET ASSETS

FIDUCIARY FUNDSSEPTEMBER 30 2006

Fire andEMS

Pension AgencyTrust Fund Funds

ASSETSCash and Cash Equivalents 721 597 8 659 807Accounts Receivable 8499

Total Assets 721 597 8 668 306

LIABILITIES

Accounts Payable 4 270Due to Others 3 061 037Due to Other Funds 6 168Due to Other Governmental Units 5 601 101

Total Liabilities 4 270 8 668 306

NET ASSETSHeld in Trust tor Pension Benetits and Other

Purposes 717 327


MONROE COUNTY FLORIDASTATEMENT OF CHANGES IN FIDUCIARY NET ASSETS

FIDUCIARY FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

Fire andEMS

PensionTrust Fund

Additions

Employer Contributions 61 050Investment Income 33 802

Total Additions 94 852

DeductionsAdministration 4 270Pension Benefits 9 270

Total Deductions 13 540

Change in Net Assets 81 312

Total Net Assets October 1 636 015

Total Net Assets September 30 717 327



MONROE COUNTY FLORIDANOTES TO FINANCIAL STATEMENTS


NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following summary of the more significant accounting pOlicies of the Monroe County FloridaCounty is presented to assist the reader in interpreting these financial statements and should be

viewed as an integral part of this report

Reportino Entitv Entity status for financial reporting purposes is governed by Statement No 14 of theGovernmental Accounting Standards Board GASB and Rules of the Auditor General State of FloridaThe GASB is the standard setting body for the establishment of accounting principles generallyaccepted in the United States of America GMP for governmental entities Determination of thefinancial reporting entity of the County is founded upon the objective of accountability Therefore thesefinancial statements include the County government the primary government and legally separatecomponent units for which operational or financial responsibility rests with the elected officials of theCounty or for which the nature and significance of their relationship to the County are such thatexclusion would cause the financial statements to be misleading or incomplete

Operational or financial responsibility is considered to have been met if the primary governmentappoints a voting majority of the component units governing board and it is able to impose its will onthe unit or there is potential for the unit to provide specific financial benefits or impose specific financialburdens on the primary government All component units of the County have a September 30 fiscalyear end

The County is a Non Charter County established as provided by Article VIII Section 1 of the FloridaConstitution and Section 125 of the Florida Statutes The Board of County Commissioners composedof five members is the legislative body for the County and as such budgets and provides funding usedby the separate Constitutional Offices with the exception of fees collected by the Clerk of Circuit Courtand the Tax Collector The County Administrator also serves as the principal executive officer Inaddition certain designated governmental functions are performed by constitutional officers who areelected at large The constitutional officers are the Clerk of the Circuit Courts Property AppraiserSheriff Supervisor of Elections and Tax Collector Although these five officers are operationallyautonomous they do not hold sufficient corporate powers of their own to be considered legally separatecomponent units for financial reporting purposes Therefore they are reported together with the Boardas part of the primary government Under the direction of the Clerk of Circuit Court the Monroe CountyFinance Department maintains the accounting system for the Board s operations but excludes those ofthe Property Appraiser Sheriff Tax Collector Clerk of the Circuit Court and Supervisor of Electionseach of which maintains its own accounting system

Services provided by the Board and accounted for within these financial statements include policeservices for unincorporated areas of the County health and social services emergency medicalservices cultural and recreational programs solid waste services and other governmental services

Blended component units are legally separate entities that are in substance part of the County s

operation as they either have governing bodies that are substantively the same as the County or theyprovide their services exclusively or almost exclusively to the County The financial transactions of thecomponent units are merged in with similar transactions of the County as part of the primarygovernment The blended component units of the County are as follows

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NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued

Monroe Countv Florida Comprehensive Plan Land Authority MCLA The MCLA was created byMonroe County Florida Ordinance 031 1986 pursuant to Florida Statute 380 and is considered alegally separate entity from Monroe County Its purpose is to operate a land acquisition programin Monroe County to implement the Monroe County Comprehensive Plan and address issuescreated by it The Monroe County Board of County Commissioners serves as the governing boardand is able to impose its will Therefore the MCLA for financial reporting purposes is considereda blended component unit of Monroe County Florida and is presented as a special revenue fundof the County Complete financial statements for MCLA can be obtained from MCLA sadministrative office at 1200 Truman Avenue Ste 207 Key West Florida 33040

Monroe Countv Industrial Development Authoritv MCIDA The MCIDA was created by MonroeCounty Florida Resolution pursuant to Florida Statute 159 The MCIDA serves to assist infinancing and refinancing capital projects which will foster economic development in the CountyThe Monroe County Board of County Commissioners serves as the governing board and is ableto impose its will Therefore the MCIDA for financial reporting purposes is considered a blendedcomponent unit of Monroe County Florida The MCIDA is not legally required to adopt a budgethowever the Board must authorize the issuance of bonded debt Neither the MCIDA nor theCounty has any legal obligation for repayment of the revenue bonds of the MCIDA As an issuerof conduit debt obligations the MCIDA has no assets or liabilities

Discretely presented component units are legally separate entities which do not meet the criteria forblending The Monroe County Housing Finance Authority Authority qualifies as a discretely presentedcomponent unit of the County and is reported in a separate column to emphasize it is legally separatefrom the County Following is a description of the Authority

Monroe Countv Housinq Finance Authoritv Authority The legal authority by which the Authoritythe discretely presented component unit was created is Section 159 604 of the Florida Statutesand Monroe County Florida Ordinance 1019 1979 This Authority serves to finance dwellingaccommodations for low moderate and middle income persons in Monroe County Its fivemember board is appointed by the Board of County Commissioners There is no budget approvalrequired by the Board although there is an approval requirement for any bonded debt issuanceThe County has no obligation to pay the outstanding debt of the Authority however it does havethe power to remove an Authority board member without cause Complete financial statements forMCHFA can be obtained from MCHFA s administrative office at 1400 Kennedy Drive Key WestFlorida 33040

Basis of Presentation

Government wide Financial Statements The statement of net assets and the statement of activitiesreport information about the nonfiduciary activities of the primary government and its discretelypresented component unit Adjustments have been made to minimize the double counting of interfundactivity These statements distinguish between governmental activities and business type activitiesGovernmental activities are primarily financed through taxes and intergovernmental revenues whilebusiness type activities are primarily financed through charges for services to external partiesThe statement of activities presents a comparison between direct expenses of the program revenuesfor each function of the County s governmental activities and for each of the business type activities

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Direct expenses are those that are clearly identified with a specific program or segment Programrevenues include a fees fines and charges for services and b grants and contributions that arerestricted for the operating or capital requirements of a specific program All taxes and other revenuesnot meeting the criteria for classification as program revenues are reported as general revenues

Fund Financial Statements The fund financial statements provide information about the County sfunds including its fiduciary fund and blended component unit Separate statements for each fundcategory governmental proprietary and fiduciary are presented The emphasis of fund financialstatements is on major governmental and enterprise funds each displayed in a separate column Allremaining governmental and enterprise funds are aggregated and reported as nonmajor funds

Proprietary fund operating revenues such as charges for services result from exchange transactionsassociated with the principal activity of the fund Exchange transactions are those in which each partyreceives and gives up essentially equal values Nonoperating revenues such as subsidies andinvestment earnings result from non exchange transactions or ancillary activities

The following are reported as major governmental funds

General Fund The General Fund is the general operating fund of the County All general taxrevenues and other receipts that are not required either legally or by accounting principlesgenerally accepted in the United States of America to be accounted for in other funds areaccounted for in the General Fund

Fine Forfeiture SDecial Revenue Fund The Fine and Forfeiture Fund is used to account forrevenues received from fines and forfeitures imposed from the commission of statutoryoffenses ad valorem taxes that are transferred to the Sheriff and to account for operations ofthe County s court support system

Road Bridae SDecial Revenue Fund The Road and Bridge Fund is used to account for allrevenues operating expenditures and capital improvements for the construction andmaintenance of roads and bridges which are not grant funded

Governmental Grants SDecial Revenue Fund The Governmental Grant Fund is used toaccount for operating revenues and expenditures for all governmental activity of federal andstate grants

Sheriff HIDTA Grants SDecial Revenue Fund The Sheriff s HIDTA Grants Fund is used toaccount for all revenues and expenditures for the ONDCP Programs

One Cent Infrastructure Surtax CaDital Proiect Fund The One Cent Infrastructure Surtax Fundis used to account for capital improvements funded by the One Cent Infrastructure Surtax

Infrastructure Sales Surtax Revenue Bonds Series 2003 CaDital Project Fund TheInfrastructure Sales Surtax Revenue Bonds Series 2003 Capital Project Fund is used toaccount for the proceeds of this bond issue

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The following are reported as major enterprise funds

Municipal Service District Waste The Municipal Service District Waste Fund is used to accountfor the operations of solid waste collection disposal and recycling activities as well as theclosure and post closure of the landfills

Card Sound Bridae The Card Sound Bridge Fund is used to account for the operations ofMonroe County s Card Sound Toll Bridge

Key West Airport The Key West Airport Fund is used to account for the operations of MonroeCounty s Key West International Airport

Marathon Airport The Marathon Airport Fund is used to account for the operations of MonroeCounty s Marathon Airport

The County also reports the following fund types

Internal Service Funds Internal service funds are used to account for the financing of workerscompensation insurance health insurance general liability insurance and fleet maintenanceservices provided by one department to other departments of the Board or to othergovernmental units on a cost reimbursement basis

Pension Trust Fund The pension trust fund is used to account for assets held by the Board in atrustee capacity for a volunteer firefighters and emergency services length of service awardplan

Aaency Funds These funds account for assets held on behalf of third parties and do notinvolve the measurement of operating results Examples include taxes fees and fines collectedon behalf of other governments

Measurement Focus and Basis of Accountina

Government wide Proprietary and Fiduciary Fund Financial Statements The government wideproprietary fund and pension trust fund financial statements use a flow of economic resourcesmeasurement focus and the accrual basis of accounting Eliminations have been made to minimize thedouble counting of internal activities Revenues and expenses that involve parties external to theprimary government and interfund services provided and used are not eliminated in the process ofconsolidation The agency funds have no measurement focus Revenues are recognized when earnedand expenses are recognized when incurred regardless of when the related cash flows take placeNon exchange transactions in which the County gives or receives value without directly receiving orgiving equal value in exchange include property taxes grants entitlements and donations On anaccrual basis revenue from grants entitlements and donations is recognized in the fiscal year in whichall eligibility requirements have been satisfied

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Amounts reported as program revenues include 1 charges to customers or applicants for goodsservices or privileges provided 2 operating grants and contributions and 3 capital grants andcontributions including special assessments Internally dedicated resources are reported as generalrevenues rather than as program revenues Likewise general revenues include all taxes

Proprietary funds distinguish operating revenues and expenses from nonoperating items Operatingrevenues and expenses generally result from providing services and producing and delivering goods inconnection with a proprietary fund s principal ongoing operations The principal operating revenues ofthe County s enterprise funds are charges to customers for sales and services Operating expenses forenterprise funds include the cost of sales and services administrative expenses and depreciation oncapital assets All revenues and expenses not meeting this definition are reported as nonoperatingrevenues and expenses

Governmental Fund Financial Statements Governmental fund financial statements are a currentfinancial resources measurement focus and are maintained on the modified accrual basis ofaccounting Revenues are recognized when they become susceptible to accrual that is when theybecome both measurable and available to finance expenditures of the current period The Countyconsiders amounts collected within 60 days after year end to be available and thus recognizes them asrevenues of the current year except for property taxes since such taxes are collected to financeexpenditures of the subsequent period Expenditures are recognized in the accounting period in whichthe related fund liability is incurred if measurable Principal and interest on general long term debt arerecorded as fund liabilities when due or when amounts have been accumulated in the debt servicefunds for payments to be made early in the following year

Revenues of the County which are susceptible to accrual under the modified accrual basis ofaccounting include property taxes gas taxes interest revenue and charges for services In applyingthe susceptibility to accrual concept to intergovernmental revenues the legal and contractualrequirements of the numerous individual programs are used as guidance There are howeveressentially two types of these revenues In one monies must be expended for the specific purpose orproject before any amounts will be paid to the County therefore revenues are recognized based uponthe expenditures recorded In the other monies are virtually unrestricted as to purpose of expenditureand substantially irrevocable ie revocable only for failure to comply with prescribed compliancerequirements such as with equal employment opportunity These resources are reflected as revenuesat the time of receipt or earlier if they meet the availability criterion

Under the terms of the grant agreements the County funds certain programs by a combination ofspecific cost reimbursement grants categorical block grants and general revenues Thus whenprogram expenses are incurred there are both restricted and unrestricted net assets available tofinance the program It is the County s policy to first apply cost reimbursement grant resources to suchprograms followed by categorical block grants and then by general revenues

GASB Statement No 20 Election Pursuant to the election option made available by GASB StatementNo 20 pronouncements of the Financial Accounting Standards Board FASB issued after November30 1989 are not applied in the preparation of the County s government wide and enterprise fundfinancial statements

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Budoets and Budoetarv Data The following are the statutory procedures followed by the Board ofCounty Commissioners the Board in establishing the budget for the County

1 On or before June 1 of each year the Sheriff the Clerk of the Circuit Court the Tax Collector andthe Supervisor of Elections shall each submit to the Board a tentative budget for their respectiveoffices for the ensuing fiscal year

2 Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser theCounty Budget Officer submits to the County a proposed budget for the fiscal year commencingthe following October 1 The budget includes proposed expenditures and the means of financingthem

3 By Board resolution a tentative budget is submitted to the public Public hearings are held toobtain taxpayer comments

4 Fifteen days after adoption of the tentative budget a final budget is submitted for review and

adoption at a final public hearing

5 Prior to or on September 30 the Board s budget is legally enacted through passage of aresolution Accordingly all fund types have an adopted budget as required by Florida Statute129 03 All funds have legally adopted budgets except for the Stock Island Wastewater SheriffTeen Court Sheriff s Law Enforcement Trust and Supervisor s Voter Education and EquipmentSpecial Revenue Funds

6 During the year the Office of Management and Budget acts on intradepartmental budgetchanges that do not alter the total revenue or expenditures budgeted to a cost center A costcenter represents a particular area of Board operations or a department All other budgetchanges whether they are transfers between cost centers or alterations of total revenues andexpenditures in a fund are approved by the Board Supplemental appropriations were necessaryand the budgetary data presented herein was amended by the Board during the year

7 Florida Statute 129 Section 7 as amended in 1978 provides that only expenditures in excess oftotal fund budgets are unlawful However because the Board acts on all budget changesbetween cost centers this becomes the level of control

8 Budgeted to Actual Expenditure reports are employed as a management control device duringthe year for all fund types

9 Budgets for all funds are adopted on a basis consistent with accounting principles generallyaccepted in the United States of America GMP for that fund type except for mortgage loansmade by the Comprehensive Plan Land Authority Special Revenue Fund for which outlays inconnection with financing of mortgages receivable are treated as expenditures for budgetarypurposes Such mortgages amounted to 6 754 563 in fiscal 2006

10 All appropriations lapse at year end

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Encumbrances Encumbrance accounting under which purchase orders contracts and othercommitments for the expenditure of moneys are recorded as a reservation of budget is employed asan extension of the statutorily required budgetary process Under Florida Statutes appropriations evenif encumbered lapse at fiscal year end Encumbrances outstanding at September 30 2006represented by purchase orders and other executory contracts were approximately 1 712 984 It isthe County s intention to substantially honor these encumbrances under authority provided in thesubsequent year s budget

Cash and Cash Eauivalents Cash balances for the majority of funds are pooled for investmentpurposes Earnings from such investments are allocated to the respective funds based on applicablecash participation by each fund The investment pools are managed such that all participating fundshave the ability to deposit and withdraw cash as if they were demand deposit accounts and thereforeall balances representing participants equity in the investment pools are classified as cash equivalentsfor purposes of these statements For investments which are held separately from the pools thosewhich are highly liquid including restricted assets with an original or remaining maturity of 90 days orless are considered to be cash equivalents

Investments Florida Statute 218415 authorizes local governments to invest its funds pursuant to awritten investment plan The County s investment policy allows investment of surplus funds in thefollowing investments

a The Florida Local Government Surplus Funds Trust Fund Investment Pool SBAb United States Government Securities Negotiable direct obligations or obligations the

principal and interest of which are unconditionally guaranteed by the United StatesGovernment

c United States Government Agencies Bonds debentures notes callables and fixed rate

mortgage backed securities issued or guaranteed by United States GovernmentAgencies provided such obligations are backed by the full faith and credit of the UnitedStates

d Federal Instrumentalities United States Government sponsored agencies Seniorobligations which include bonds debentures notes callables and fixed rate mortgagebacked securities issued or guaranteed by United States government sponsoredagencies Federal Instrumentalities These are limited to the following

Federal Farm Credit Bank FFCBFederal Home Loan Bank or its County banks FHLBFederal National Mortgage Association FNMAFederal Home Loan Mortgage Corporations Freddie Macs including FederalHome Loan Mortgage Corporation participation certificates

e Interest bearing Time Deposit or Savings Account Non negotiable interest bearing timecertificates of deposit or savings accounts in financial institutions organized under thelaws of this state and or in national financial institutions organized under the laws of theUnited States and doing business and situated in the State of Florida provided that anysuch deposits are secured by the Florida Security for Public Deposits Act Chapter 280Florida Statutes Additionally the financial institution shall not be listed with anyrecognized credit watch information service

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f Registered Investment Companies Money Market Mutual Funds Shares in open endand no load Money Market Mutual Funds provided such funds are registered under theFederal Investment Company Act of 1940 and operate in accordance with 17 C F R270 2a 7 which stipulates that money market funds must have an average weightedmaturity of 90 days or less In addition the share value of the money market funds must

equal to 1 00

g Intergovernmental Investment Pool Intergovernmental Investment Pools that areauthorized pursuant to the Florida Interlocal Cooperation Act as provided in Section163 01 Florida Statutes

The County invests funds throughout the year in the Local Government Surplus Funds Trust Fund aninvestment pool administered by the State Board of Administration of Florida All investments are statedat fair value Investments in the Local Government Surplus Funds Trust Fund Investment Pool which isan external 2a7 like investment pool are stated at share price which is substantially the same as fairvalue

Accounts Receivable Amounts due from private individuals organizations or other governmentswhich pertain to charges for services rendered by County departments are reported as accountsreceivable Receivables are reviewed periodically to establish or update the provisions for uncollectibleamounts These provisions are estimated based on an analysis of the age of the various accounts

Interfund Balances and Activitv During the course of normal operations the County has numeroustransactions between funds Examples of theses transactions include providing services constructingassets or servicing debt These transactions are generally recorded as interfund transfers except forinternal service fund charges which are reflected as revenues to internal service funds and expensesto expenditures to the funds receiving the services Additionally short term interfund loans are recordedfrom time to time as cash flow needs arise As of fiscal year end any unpaid amounts related to thesetransactions are reported as due from other funds or due to other funds on the fund financialstatements and internal balances on the government wide financial statements Interfund loans not

expected to be repaid within one year are reported as advances In governmental funds advances ifany are offset equally by a fund balance reserve which indicates that they do not constituteexpendable available financial resources and therefore are not available for appropriation

Inventorv Inventory in the General Fund consists of certain supplies which are stated at cost usingthe moving average cost method The inventory is determined by an annual physical count No reservehas been established within the General Fund balance as the consumption method is used to accountfor this inventory

Capital Assets Capital assets of the County include property buildings equipment and infrastructureassets e g roads bridges curbs and gutters streets and sidewalks drainage systems and lightingsystems Constructed or purchased assets are recorded at historical or estimated historical cost at thetime of purchase Donated assets are recorded at estimated fair market value at the date of donation

In accordance with GASB Statement No 34 the infrastructure assets of the County are reported in thecapital assets of the County on the government wide financial statements Only the transportationinfrastructure met the definition of a major infrastructure asset These assets are recorded at historicalcost at the time of acquisition Retroactive infrastructure was recorded in the current year as describedin Note 7

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The capitalization rate is 1 000 for additions to equipment Buildings are capitalized when the value is15 000 or greater Public domain and system infrastructure assets represent major expenditures for

such items as roads water and sewer treatment plants and lines landfill improvements parks anddrainage systems Additions and improvements for roads water sewer landfill and drainageinfrastructure are capitalized when the cost amounts to 250 000 while park additions andimprovements are capitalized at 25 000

Where the Comprehensive Plan Land Authority acquires land by donation the asset is recorded attransaction cost plus the higher of the tax assessed value at the time of donation or 115 of the 1986tax assessed value

Depreciation has been provided using the straight line method The estimated useful lives of thevarious classes of depreciable capital assets are as follows

BuildingsEquipmentSystem infrastructurePublic domain infrastructure

Capacity rights

Life Years1 0 505 10

10 50

20 5099

Restricted Assets The use of certain assets of enterprise funds is restricted by specific provisions ofbond resolutions and agreements with various parties Assets so designated are identified as restrictedassets on the balance sheet When both restricted and unrestricted resources are available for use theCounty s policy is to use restricted resources first and then unrestricted resources as they are needed

Unamortized Issue Expense Unamortized issue expense of the enterprise funds is reported as adeferred charge and is amortized by using the straight line method over the life of the debt

Propertv Taxes Property taxes based on assessed values at January 1 are levied and become dueand payable on November 1st of each year A four percent discount is allowed if the taxes are paid inNovember with the discount declining by one percent each month thereafter Taxes become delinquenton April 1st of each year and tax certificates for the full amount of any unpaid taxes and assessmentsmust be sold not later than June 1 st of each year No accrual for the property tax levy becoming due inNovember of 2006 is included in the accompanying fund financial statements since such taxes arecollected to finance expenditures of the subsequent periodCompensated Absences County policy permits employees to accumulate a limited amount of annualand sick leave which will be paid to employees upon termination of employment In the governmentwide and proprietary fund financial statements an expense and a liability for compensated absencesand the salary related payments are recorded as the leave is earned

Landfill Closure Costs Under the terms of current state and federal regulations the County is requiredto place a final cover on closed landfill areas and to perform certain monitoring and maintenancefunctions for a period of up to 30 years after closure In accordance with GASB Statement No 18 theBoard is recognizing these costs of closure and post closure maintenance over the active life of eachlandfill area based on landfill capacity used during the period Required obligations for these costs arerecognized in the Municipal Service District Waste enterprise fund for public landfill operations

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Deferred Revenue Deferred revenues include amounts collected before revenue recognition criteriaare met In the governmental fund statements amounts associated with receivables which under themodified accrual basis of accounting are measurable but not yet available are reported as deferredrevenues

Lona Term Debt In the government wide financial statements and proprietary fund financialstatements long term debt and other long term obligations are reported as liabilities in the applicablegovernmental activities business type activities or proprietary fund type statement of net assets Bondpremiums and discounts as well as issuance costs are deferred and amortized over the life of thebonds using the straight line method that approximates the effective interest method Bonds payableare reported net of the applicable bond premiums or discount Bond issuance costs are reported asdeferred charges and amortized over the term of the related debt

In fund financial statements governmental fund types recognize bond premiums and discounts as wellas bond issuance costs during the current period The face amount of debt issued is reported as other

financing sources Premiums received on debt issuances are reported as other financing sources whilediscounts on debt issuances are reported as other financing uses Issuance costs whether or notwithheld from the actual debt proceeds received are reported as debt service expenditures

Use of Estimates The presentation of financial statements in conformity with accounting principlesgenerally accepted in the United States of America as applicable to governmental units requiresmanagement to make use of estimates that affect the reported amounts in the financial statementsActual results could differ from estimates

Reclassifications Certain amounts presented in the prior year s data have been reclassified to beconsistent with the current year s presentation

Net Assets Net assets in the government wide and proprietary fund financial statements are classifiedas invested in capital assets net of related debt restricted and unrestricted Restricted net assetsrepresent constraints on resources that are either externally imposed by creditors grantorscontributors or laws or regulations of other governments or imposed by law through state statute

Fund Balances In the governmental fund financial statements reservations or restrictions of fundbalance represent amounts that are not appropriable or are legally segregated for a specific purposeDesignations of fund balance represent tentative management plans that are subject to change

The governmental fund types classify fund balances as follows

Reserved

Reserved for Encumbrances portion of fund balance available to pay for any commitmentsrelated to purchase orders and contracts that remain unperformed at year end

Reserved for Land Acquisition portion of fund balance used for the operation of theComprehensive Plan of the Land Authority

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Reserved for Mortgage Loans portion of fund balance offsetting mortgages receivable for theComprehensive Plan Land Authority Special Revenue Fund because they are not availablespendable resources

Reserved for Debt Service portion of fund balance available to pay for any commitmentsrelated to outstanding debt at year end

Unreserved

Designated for Special Revenue portion of fund balance is designated by the County in theTourist Development Fund District I for beach nourishment projects

Designated for Capital Projects portion of fund balance is designated by the County for use invarious capital projects

Undesignated portion of total fund balance available for appropriation that is uncommitted at

year end

NOTE 2 CASH CASH EQUIVALENTS AND INVESTMENTS

The County maintains a cash and investment pool that is available for use by all funds except thosewhose cash and investments must be segregated due to bond covenants or other legal restrictions

As of September 30 2006 the carrying value of the County s deposits and investments other than thatof the Pensions Trust Fund with their respective credit ratings was as follows

Credit Less thanInvestment Type Rating Fair Value 6 monthsDemand and time Deposits N A 31 299 183 31 299 183Local Government Surplus FundsTrust Fund Unrated 192 338 812 192 338 812U S Government Treasuries TSY 1 978 998 1 978 998Federal instrumentalities Discount

notes A 1 5 362 577 5 362 577Federal instrumentalities Notes

and Bonds AAA 17 022 217 8 086 803Total fair value 248 001 787 239 066 373

8 9354148 935414

Credit Risk The County s Investment Policy Policy limits credit risk by restricting authorizedinvestments to the following Florida Local Government Surplus Funds Trust Fund Investment Pooladministered by Florida s State Board of Administration a 2a7 like pool direct obligations of theUnited States or its agencies and instrumentalities money market mutual funds and IntergovernmentalInvestment Pools authorized by the Florida Statutes The Policy requires that investments in federalinstrumentality debt be guaranteed by the full faith and credit of the U S Government sponsoredagency and that investments in money market mutual funds have a rating of AAAm or AAAm G orbetter by Standard Poor s S P or other nationally recognized rating agency All credit ratingsindicated in the previous table are S P ratings

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NOTES TO FINANCIAL STATEMENTSFOR THE YEAR ENDED SEPTEMBER 30 2006

NOTE 2 CASH CASH EQUIVALENTS AND INVESTMENTS Continued

Concentration of Credit Risk The Policy establishes limitations on portfolio composition both byinvestment type and by issuer in order to control concentration of credit risk The Policy provides thefollowing maximum limits of the portfolio with limits in anyone issuer of the portfolio invested

Investment TvpeFlorida Local Government Surplus Funds TrustFund

United States Government SecuritiesUnited States Government AgenciesFederal InstrumentalitiesMaximum in callable securities

Interest bearing Time Deposit or Savings Accounts

Money Market Mutual Funds

Intergovernmental Investment Pool

Portfolio

Maximum100

100

5080

10

2010

Maximum in

anv one issuern a

n a

10

30 with a maximum of25 in callable securities1010

n a

At September 30 2006 the portion of the County s investment portfolio invested in Federalinstrumentalities is detailed as follows

Percent of

Investment Portfolio

12

17

IssueUS TreasuryFederal Home Loan Bank of which 1 is callableFederal Home Loan Mortgage CorporationFederal National Mortgage Association of which4 is callable

Custodial Credit Risk The Policy requires bank deposits secured as provided by Chapter 280 FloridaStatutes This law requires local governments to deposit funds only in financial institutions designatedas qualified public depositories by the Chief Financial Officer of the State of Florida and create thePublic Deposits Trust Fund a multiple financial institution pool with the ability to assess its memberfinancial institutions for collateral shortfalls if a default or insolvency has occurred Demand deposits areinsured by the FDIC up to 100 000 at each financial institution and amounts in excess of 100 000are secured by the Public Deposits Trust Fund At September 30 2006 all of the County s bankdeposits were in qualified public depositories

The Policy requires execution of a third party custodial safekeeping agreement for all purchasedsecurities and requires that securities be held in the County s name As of September 30 2006 all ofthe County s investments are held in a bank s trust department in the County s name

Interest Rate Risk The Policy limits the investment of three months of operating expenditures totwelve months The Policy limits the investment of non current operating funds to five years

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NOTE 2 CASH CASH EQUIVALENTS AND INVESTMENTS Continued

Restricted Cash and Cash Equivalents The Board has the following unrestricted and restricted cashand cash equivalents at September 30 2006

Local Government Demand

Surplus Trust Fund Deposits TotalUnrestricted Cash and Cash Equivalents

Governmental Activities

Governmental Funds 113 737 700 21 626 135 135 363 835Internal Service Funds 26 741 764 2 836 924 29 578 688

Business type Activities 20 999 523 788 656 21 788 179

Total Unrestricted Cash and Cash

Equivalents 161 478 987 25 251 715 186 730 702

Restricted Cash and Cash EquivalentsBusiness type Activities 30 859 825 6 047468 36 907 293

Total Cash and Cash Equivalents 192 338 812 31 299 183 223 637 995

At September 30 2006 the fiduciary funds had pooled cash balances totaling 9 381 404 with theSBA demand deposits and repurchase agreements comprising 694 566 1 591 953 and 7 094 885respectively

Component Unit At September 30 2006 the Monroe County Housing Finance Authority maintaineddeposits totaling 54 848 which are insured by the FDIC up to 100 000

NOTE 3 ACCOUNTS RECEIVABLE

Accounts receivable in the accompanying fund financial statements are shown net of the allowance fordoubtful accounts The allowance is as follows 836 783 for nonmajor governmental funds 580 926for the Municipal Service District Waste Fund and 26 252 for the Key West Airport Fund

NOTE 4 MORTGAGES RECEIVABLE

Mortgages receivable at September 30 2006 consist of the following

Governmental Grants Fund

Second Mortgages Receivable from individuals collateralized bypersonal residences The entire amount of the loan will be forgiven overa ten year period at a rate of one fifth per year beginning on the 7thanniversary of the completion of the construction of the improvementsfunded by the mortgage provided that the mortgagor complies with themortgage covenants 49 940

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NOTE 4 MORTGAGES RECEIVABLE Continued

One Cent Infrastructure Surtax Fund

Agreement with the Key Largo Wastewater Treatment District

whereby the County granted an interest free loan to the District in theamount of 914 285 of which 731428 was provided by the Countyand 182 857 was provided by the Florida Keys Aqueduct Authority

Affordable Housina Proarams FundSecond Mortgages Receivable from individuals collateralized by landand buildings payable in monthly installments of 3 622 includinginterest at 3 final payment due March 1 2004

Second Mortgages Receivable from individuals collateralized bypersonal residen es The entire amount of the loan will be forgivenover a ten year period at a rate of one fifth per year beginning on the7th anniversary of the completion of the construction of theimprovements funded by the mortgage provided that the mortgagorcomplies with the mortgage covenants

Local Housina Assistance

Second Mortgages Receivable from individuals collateralized bypersonal residences Commencing in year sixteen of the mortgageprincipal and accrued interest at 3 will be forgiven at the rate of6 66 annually The entire principal balance and accrued interest willbe forgiven at the end of year thirty If the residence is sold before theinitiation of the forgiveness period the full amount of the mortgage andaccrued interest is due at closing

Second Mortgages Receivable from individuals collateralized bypersonal residences Principal payments shall be deferred for the termof the first mortgage loan or until the date the last payment is due onthe first mortgage Interest is not charged on the mortgages unless themortgagor is in default in which case the interest rate is 12 perannum from the date when payment of the second is due The entirebalance of the loan is intended to be forgiven However in the eventthe home is sold transferred rented refinanced or the first mortgageloan is satisfied the entire mortgage balance is due

Second Mortgages Receivable from individuals collateralized bypersonal residences The entire balance of the mortgage will beforgiven over a ten year period at the rate of ten percent per year uponthe anniversary of the mortgage provided that the mortgagor complieswith the mortgage covenants The mortgages are interest free

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914 285

248 152

14 591262 743

129 056

2 716 222

991 8183 837 096



NOTE 4 MORTGAGES RECEIVABLE Continued

Comprehensive Plan land Authoritv FundFirst mortgages due from not for profit agency collateralized by landpayable in full August 2007 interest free 13 984

First mortgage due from governmental agency collateralized by landpayable in full April 2028 interest free 382 554

First mortgage due from governmental agency collateralized by landand building payable in full May 2031 interest free 1 500 000

First mortgage due from governmental agency collateralized by landpayable in full January 2034 interest free 2 210 000

First mortgage due from governmental agency collateralized by landand building payable in full September 2045 interest free 59 025

Third mortgage due from private company collateralized by landpayable in full May 2050 interest free 1 089 000

Third mortgage due from private company collateralized by landpayable in full September 2053 interest free 1 500 000

6 754 563

11 818 627Total Mortgages Notes Receivable

The mortgages receivable associated with the Governmental Grants One Cent Infrastructure Surtaxand Affordable Housing Program funds are offset by an allowance for uncollectible accounts of49 940 914 285 and 262 743 respectively As the mortgages receivable associated with the LocalHousing Assistance fund are intended to ultimately be forgiven an allowance for uncollectible accountsof 3 837 096 has been established

A reserve of fund balance of 6 754 563 represents the mortgages receivable related to theComprehensive Plan Land Authority Special Revenue Fund that are equally offset by a fund balancereserve which indicates that they do not constitute available spendable resources even though theyare a component of total assets This also represents the primay difference in fund balance for theComprehensive Plan Land Authority Special Revenue Fund on a GAAP basis versus the budgetarybasis

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NOTE 5 DEFERRED UNEARNED REVENUE

The balance in deferred revenues in the fund financial statements includes both the deferred andunearned revenue amounts below and unearned revenue in the government wide financial statementsat year end was comprised of the following elements

Grant funds not received Governmental GrantsUnearned Revenue HITDA Grants FundAccounts receivable not received Unincorporate Area ServiceAccounts receivable not received Misc Special RevenueAccounts receivable Sheriffs Grants FundUnearned Revenue Sheriffs HIDTA Administration FundUnearned Revenue Clerk s Court Related FundUnearned Revenue Municipal Service DistrictUnearned Revenue Marathon Airport

NOTE 6 RESTRICTED ASSETS

Deferred

Revenue4 9631 7254 900

30 271

718 780

51 94720 186

18 922

293851 987

Unearned

Revenue

1 725

51 947

20 186

18 922293

93 073

Restricted assets include those provided for the landfill escrow account and airport passenger facilitycharges Total restricted assets as of September 30 2006 are as follows

Cash andCash Equivalents

Enterprise Fund Municipal Service District WasteLandfill Closure Escrow

Enterprise Fund Kev West Airport

Passenger Facility Charge Funds

Unspent Bond Proceeds

1 790 740

3 922 332

31 194 221

36 907 293

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F 16



NOTE 7 CAPITAL ASSETS

Capital assets activity for the year ended September 30 2006 is as follows

Beginning EndingBalances Additions Adjustments Reductions Baiances

Governmental activities

Capital assets not being depreciatedland 54 184 492 4 915 927 18 227 219 5 463 199 71 864 439Construction in progress 9 572 018 15 042 990 29 825 24 585 183

Total capital assets not being depreciated 63 756 510 19 958 917 18 227 219 5493 024 96449 622Capital assets being depreciated

Buildings 104 857 089 270 858 23 653 104 904 294Equipment 51 748 952 10 818 872 4 416 286 58 151 538Infrastructure 3 934 974 35 564 097 39499 071Capacity rights 3 150 000 3 150 000

Total capitai assets being depreciated 163 491 015 11 089730 35 564 097 4 439 939 205704 903less accumulated depreciation for

Buildings 30 887 320 2 764417 33 651 737Equipment 28 136 844 5 168 733 3 587 358 29 718 219Infrastructure 367 713 190 539 20 896 955 21455 207Capacity ri9hts 31 818 31 818 63 636Total accumulated depreciation 59 423 695 8 155 507 20 896 955 3 587 358 84 888 799

Total capital assets being depreciated net 104 067 320 120 816 104Governmental funds capitai assets net 167 823 830 217 265 726

Beginning EndingBalances Additions Reductions Balances

Businesstype activities

Capital assets not being depreciatedLand 4 802 020 4 802 020Construction in progress 6 617412 2 338 079 1 597 218 7 358 273

Total capital assets not being depreciated 11419 432 2 338 079 1 597 218 12 160 293Capital assets being depreciated

Land improvements 212 925 212 925

Buildings 17 504 935 356 152 17 861 087Equipment 3 419 188 233 497 20 126 3 632 559System Infrastructure 27 510 422 1 241 067 28 751 489

Total capital assets being depreciated 48 647 470 1 830 716 20 126 50 458 060Less accumulated depreciation for

Land improvements 212 925 212 925

Buildings 3 821 669 432 537 4 254 206Equipment 2 896 864 147 149 3479 3 040 534System Infrastructure 8 430 490 1 094 711 9 525 201Total accumulated depreciation 15 361 948 1 674 397 3 479 17 032 866

Total capital assets being depreciated net 33 285 522 33 425 194Business type activities capital assets net 44 704 954 45 585487

F 17



NOTE 7 CAPITAL ASSETS Continued

Depreciation was charged to functions programs on the statement of activities as follows


Generai Government

Public SafetyPhysical Environment

TransportationEconomic Environment

Human Services

Culture and Recreation

Court Related

Total GovernmentalActivities

1 456 625

4 968 826

106 020

445 948

12 086

337 903

348 340

479 759

8 155 507

Businesstype Activities

Municipal Service District Waste

Card Sound BridgeKey West AirportMarathon Airport

Total Businesstype Activities

44 810

321 332

788492

519 763

1 674 397

The adjustments column for the governmental activities represents the addition of retroactiveinfrastructure in compliance with the requirements of GASB Statement No 34 This amount was

reported as a restatement to beginning net assets in the government wide financial statements

Internal service fund capital asset information is included in the governmental activities on thegovernment wide financial statements because the internal service funds predominately serve thoseactivities

An additional 51 522 750 will be required to complete the construction projects under presentcontractual agreements as of September 30 2006 In addition the Comprehensive Plan Land Authorityhas approximately 1 723 375 of commitments to acquire various properties as of September 30 2006

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F 18



NOTE 8 LONG TERM DEBT

The following is a summary of changes in long term debt for the year ended September 30 2006

Current Portion

Beginning Ending of LongtermBalances Additions Payments Balances Uabilities


Revenue bonds payable 19 205 000 1 170 000 18 035 000 1 205 000Revenue notes payable 2 371 849 563 078 1 808 771 561 630Note Payable 19454 5 988 13 466 5 988Accrued compensated absences 6 120436 2 822 800 2 036 924 6 906 312 889 467Capitalized lease obligations 1 466447 631 913 834 534 433 340Total Governmental Activities 29 183 186 2 822 800 4407 903 27 598 083 3 115425

Business Type Activities

2006 Construction Bond 30455 000 30455 000Revenue note payable 3 271 546 416 935 2 854 611 431 867Accrued compensated absences 301 586 362 206 316 895 346 877 45 313Landfill closure costs 368 240 11 048 379 288

Capitalized lease obligations 917 270 50 000 867 270 50 000

Total Businesstype Activities 4 858 622 30 828254 783 830 34 903 046 527 180

Total Long Term Debt 34 041 808 33 651 054 5 191 733 62 501 129 3 642 605

Internal service fund long term debt information is included in the governmental activities on thegovernment wide financial statements because the internal service funds predominately serve thoseactivities Also for governmental activities compensated absences are generally liquidated by theapplicable governmental fund

Summary of Indebtedness

The following is a summary of the County s bonds and notes as of September 30 2006


Revenue BondInfrastructure Sales Surtax Revenue Bonds Series 2003 18 035 000

1 82648617 715

1 808 771

13466

19 857 237

Revenue NoteGuaranteed Entitlement Refunding Revenue Note Series 2002Less Unamortized Discount

Note Payable for vehicle purchase interest free

Total Governmental Activities

F 19



NOTE 8 LONG TERM DEBT Continued

Business type Activities

Business Type ActivitiesRevenue Bonds

Key West International Airport Revenue Bonds Series 2006Reyenue Note

Solid Waste Disposal System Refunding Revenue Note Series 2002Less Unamortized Discount

Total Business Type Activities

30 455 000

2 959481104 870

2 854 611

33 309 611

Debt Service Fundina Reauirements The total annual debt service requirements for bonds and notes

outstanding at September 30 2006 are as follows

Governmental Activities Busjness type Activities

Principal Interest Total Principal Interest Total

2007 1 800 794 659 994 2460 788 452 841 1 768 167 2 221 0082008 1 857481 618 410 2475 891 1 203 283 1 752 462 2 955 7452009 1 911 677 570 620 2 482 297 959 252 1 695 796 2 655 0482010 1 335 000 516 733 1 851 733 960 765 1 652 877 2 613 6422011 1 385 000 476 683 1 861 683 967 841 1 610 210 2 578 051

2012 2015 7 890 000 1 629 540 9 519 540 2 780 499 7 562 280 10 342 77920162021 3 695 000 223400 3 918 400 2 940 000 6 874 450 9 8144502022 2026 4 125 000 5 950450 10 075 4502027 2031 7 570 000 4 488 825 12 058 8252032 2035 11 455 000 1 846 350 13 301 350

TOTAL 19 874 952 4 695 380 24 570 332 33414 481 35 201 867 68 616 348Less

Unamortized

Costs 17 715 17 715 104 870 104 87019 857 237 4 695 380 24 552 617 33 309 611 35 201 867 68 511 478

At September 30 2006 the current portion of the unamortized discount for the governmental activitiestotals 17 715

F 20




Long Term Debt at September 30 2006 is composed of the following issues

21455 000 Infrastructure Sales Surtax Revenue Bonds Series 2003

Type General Government Revenue Bonds

Dated March 2003

Final maturity Year2018

Principal payment date April 1

Interest payment dates April 1 and October 1

Interest rates 2 0 to 4 0

Amount outstanding at September 30th 18 035 000

Reserve requirement None MBIA insured

Revenue pledged One Cent Local Government Infrastructure Sales Surtax

Purpose To construct and acquire equipment and capital improvementsCall provisions First redemption date may not be later than 4 20 13 and no

call premium may exceed 2 of the par amount redeemed

3495 144 Guaranteed Entitlement Refundina Revenue Note Series 2002

Type General Government Revenue Note

Dated December 2002

Final maturity Year 2009

Principal payment date December 1

Interest payment dates June 1 and December 1

Interest rates 2 96

Amount outstanding at September 30th 1 808 771Reserve requirement None

Revenue pledged Lien and pledge of Guaranteed Entitlement and SecondGuaranteed Entitlement from the State Revenue Sharing Trust Fund providedby Chapter 219 Florida Statutes

Purpose To refund on a current basis the 7 230 000 Monroe County FloridaRefunding Revenue Bonds Series 1993

Call provisions No prepayment penalty Bank requires 10 days notice

29 929 Non Interest Bearina Note Pavable Tax Collector

Type Enterprise Revenue NoteDated Fiscal 2004Final maturity October 2008

Principal payment date October 1Interest payment dates N A non interest bearing noteInterest rates 0 00

Amount outstanding at September 30th 13 466Reserve requirement NoneRevenue pledged None

Purpose To finance avehicle purchaseCall provisions None

F 21




30455 000 Kev West International Airport Revenue Bonds

Type Enterprise Revenue BondDated July 2006

Final maturity Year 2035

Principal payment date October 1Interest payment dates MonthlyInterest rates 5 50Amount outstanding at September 30th 30 455 000Reserve requirement NoneRevenue pledged 1 Net Revenues as defined in the Resolution to bederived from the operation of the Airport 2 Other Availabie Moneys as

defined in the Resolution 3 Hedge Receipts and 4 until applied inaccordance with the provisions of the Resolution aI moneys includinginvestments thereof in certain of funds and accounts established under theResolution and 5 the Reserve Account

Purpose Acquire construct and equip various capital improvements at theKey West International AirportCall provisions 1 Optional Redemption at par on any date 2 Mandatoryredemption at par at the option of the Bank upon the event of default under theReimbursement Agreement or with respect to Bank Bonds At least 15 daysnotice of mandatory tender of Series 2006 Bonds for purchase at least 30days notice of redemption

4 143 945 Solid Waste Disposal Svstem Refundino Revenue Note Series2002

Type Enterprise Revenue NoteDated December 2002Final maturity Year 2012

Principal payment date October 1Interest payment dates April 1 and October 1Interest rates 341Amount outstanding at September 30th 2 854 611Reserve requirement NoneRevenue pledged Gross revenues from the solid waste disposal colectionand management systemsPurpose To refund on a current basis the Monroe County Municipal ServiceDistrict Refunding Improvement Bonds Series 1991Call provisions No prepayment penalty Bank requires 10 days notice

In prior years the County defeased revenue bonds by placing the proceeds of new bonds with anescrow agent in irrevocable trust accounts to provide for all future debt service payments on the oldbonds Accordingly the trust account assets and liabilities for the defeased bonds are not included inthe County s financial statements

F 22




The following schedule reflects the outstanding principal on refunded bonds by issue as of September30 2006

2 155 000 Refunding Improvement Revenue Bonds Series 1983 defeased on January 11993 using proceeds from the Refunding Improvement Revenue Bonds Series 1993 83

815 000

5 000 000 Improvement Revenue Bonds Series 1988 defeased on May 1 1993 usingproceeds from the Refunding Revenue Bonds Series 1993 88 1 815 000

Total Governmental Activities 2 630 000

8 000 000 Municipai Service District Improvement Revenue Bonds Series 1980defeased on December 6 1985 using proceeds from the 9 211 774 Municipal ServiceDistrict Refunding Improvement Bonds Series 1985

5 370 000

9 211 774 Municipal Service District Refunding Improvement Bonds Series 1985defeased on April 1 1991 using proceeds from the Municipal Service District RefundingImprovement Bonds Series 1991

3 955 000

4 585 000 Card Sound Road and Bridge Improvement Revenue Bonds Series 1993defeased on March 8 1994 using available cash 895 000

Total Business type Activities 10220000

NOTE 9 INTEREST RATE CAP

Contracts The County has an interest rate cap agreement in effect at September 30 2006 for the30455 000 Key West International Airport Variable Rate Revenue Bonds Key West International

Airport Series 2006 Series 2006

Obiectives As a means to manage interest rate risk related to the variable rate bonds at the time ofissuance on July 18 2006 the County entered into an interest rate cap agreement in connection withits Series 2006 bonds The intention of the cap agreement was to effectively limit the County smaximum variable interest rate on the bonds to a fixed rate of 5 50 for a period of three years

Terms fair values and credit risk The terms fair values and credit ratings of the outstanding cap asof September 30 2006 are as follows The notional amount of the cap agreement matches theprincipal amount of the associated debt and declines with the principal amortization on the bonds

Associated

Bond IssueNotional

AmountEffective

DateFixedRate

Variable Rate Termination1 Fair Value Date

CounterpartyCredit Rating

2

Series2006

July 18

30455 000 2006 5 50 Weekly Rate 5 885 July 18 2009 Aa2 AA AA

1 Determined weekly by Remarketing Agent2 Counterparty s guarantor

F 23



NOTE 9 INTEREST RATE CAP Continued

Credit risk As of September 29 2006 the positive fair value of the agreement represents the County s

exposure to credit risk Should the counterparty to the cap fail to perform according to the terms of thecap agreement the County faces variable credit risk to the same extent as if the County had notentered into the cap agreement The counterparty carries a guarantee by an entity counterpartyguarantor rated Aa2 by Moody s Investors Service Moody s AA by Standard and Poor s S Pand AA by Fitch Ratings Fitch

Basis risk The cap does not expose the County to basis risk

Termination Risk The County or the counterparty may terminate the cap agreement if the other partyfails to perform under the terms of the contract An additional termination event occurs if thecounterparty ratings fall below specified categories by Moody s and S P and any other Rating AgencyThe swap may be terminated by the County with 30 days notice and the counterparty can terminate theswap if the County falls below Baa2 by Moody s BBB by S P and an equivalent investment gradefrom any other Rating Agency provided however that any termination must have insurer consent

Rollover Risk The County is exposed to rollover risk on the interest cap agreement that terminatesprior to the associated debt When this agreement terminates the County will not realize the syntheticrate offered by the agreement on the underlying debt issue

NOTE 10 LEASE OBLIGATIONS

Capitalized lease obligations are stated at the original fair market value of leased assets capitalizedless payments since the inception of the lease discounted at the implicit rate of interest in the leaseThe future minimum debt reductions under capitalized leases consist of the following at September 302006

GovernmentalActivities

Fiscal year ending September 30


20072008200920102011

2012 20162017 20212022 2024

Total minimum paymentsAmounts representing interestPresent value of net minimum lease payments

463 240215 837164 73922 75816 934

50 00050 00050 00050 00050 000

250 000250 000117 270867 270883 508

48 974834 534 867 270

F 24



NOTE 10 LEASE OBLIGATIONS Continued

Leased property which has been capitalized as of September 30 2006 is as follows

EquipmentLess Accumulated Depreciation

Governmental

Activities1 607 932

314 5591 293 373


2 335 8302 335 830

Rental expense under cancelable operating leases for the current year amounted to 3 784480

The City of Key West leases two properties with a cost of 441 073 from the MCLA These propertieswhich are included in capital assets are used to provide parking and city recreational facilities Theterms of the leases provide for rental of 1 per year for 30 years expiring in the year 2022 MonroeCounty provides the MCLA s office space at no cost

NOTE 11 INTERFUND BALANCES

Interfund balances at September 30 2006 are as follows

PavatlIeFlIXI

GonernI

General

Fine

Forfeiture

821 906

Road

BridgeGovernmental

Grants

109 800

Receivable Fund

One Cent NonmajorInfrastructure Governmental

455 843

Key West

MSD Airport2290 579

Marathon

Airport ISF

8 841

Total

1 399 359

101 134

833 735

Fine Forfeiture SSO

Rcal Bridges 832 289Governmental

Gra1ts 14 273

HIOTA

One Cart 253477NonmajorGoYemmentaI 5 123 045

MSD 375 730Card Sound

Bridge 132 061

Ksy wtAlrport 209 815

16 667 83 917

4 000 000

1 446

59 096 4 073 369

263 461

1 141 149

241 159 6 357 529

377 121

263 461

18

887 672

611 973 33 628 340 368 73381 391

1 774 133 835

955 683745 848

MEnlhoo Airpat

T

134 576

355 688

6 168

7 437 670

146

134 576

355 832

6 168

8 841 241 159 16 132 931821 924 1 391 1 626 112 4 033 626 1 669 537 72 090 579

During the course of operations transactions occur which result in amounts owed to a particular fundby another fund other than for goods provided or services rendered These receivables and payablesare due within a year and are classified as Due from other funds Due to other funds on thegovernmental funds balance sheet or proprietary fund statement of net assets

F 25



NOTE 12 INTERFUND TRANSFERS

Interfund transfers at September 30 2006 were as follows

To FromFine Governmental Revenue Bond Nonmajor Key West Marathon

General Forfeiture Grants Series 2003 Governmental Airport Airport TotalGeneral 1 062 566 4 078 000 3 035 603 6 051 037Fine Forfeiture 37 667 317 16666 37 683 983Road Bridge 832 289

832 289One Cent 6 360 885 887 672 1 000 000 8 248 557

NonmajorGovernmental 31 596 725 636 153 189 4 317 992 5 165 221MSD 375 730 375 730Card Sound Bridge 132 062 132 062Key West Airport 209 814 11 466 221 280Marathon Airport 134 576 134 576Internal Service 355 686 355 686Total 44 974 197 4 078 000 4 665 577 153 189 4 317 992 1 000 000 11 466 59 200421

Transfers between the major funds other nonmajor governmental and enterprise funds and internalservice funds were primarily to support the capital projects and operations of the funds

NOTE 13 RISK MANAGEMENT

The County is exposed to various risks of loss related to tort theft of damage to and destruction ofassets errors and omissions injuries to employees and natural disasters During the fiscal yearsended 1976 1984 and 1988 the County established the Worker s Compensation Group Insuranceand Risk Management Funds respectively as internal service funds to account for and finance itsuninsured risks of loss Under these programs the Workers Compensation provides 1 000 000coverage per claim The Group Insurance Fund provides self insured excess claims Risk Managementhas a 5 000 000 excess insurance policy for general liability claims with a 100 000 self insuredretention and building property damage is covered for the actual value of the building with a deductiblebetween 100 000 and 250 000 Deductibles for windstorm and flood vary by location The BoardpurChases commercial insurance for claims in excess of coverage provided by the funds and for allother risks of loss Settled claims have not exceeded this commercial coverage in any of the past threeyears

All funds of the County participate in the programs and make payments to the Workers CompensationGroup Insurance and Risk Management Funds based on estimates of the amounts needed to pay priorand current year claims The claims liabilities reported at September 30 2006 are based on therequirements of Governmental Accounting Standards Board Statement No 10 which requires that aliability for claims be reported if information prior to the issuance of the financial statements indicatesthat it is probable that a liability has been incurred at the date of the financial statements and theamount of the loss can be reasonably estimated

F 26



NOTE 13 RISK MANAGEMENT Continued

Changes in the claims liability amounts in fiscal year 2006 and 2005 were

Balance at September 30 2004

Current year claims and changesin estimates

Claim paymentsBalance at September 30 2005Current year claims and changes

in estimates

Claim paymentsBalance at September 30 2006

NOTE 14 RETIREMENT PLAN

Florida Retirement System

Workers Group Risk

Compensation Insurance Management Total1 000 000 3 307 897 1 501 607 5 809 504

1 699 116 10 319 303 85 264 12 103 683966 864 10 531 409 85 264 11 583 537

1 732 252 3 095 791 1 501 607 6 329 650

2 033 326 10 308 270 294 353 12 635 9491 903 711 10 311 580 294 353 12 509 6441 861 867 3 092 481 1 501 607 6455 955

Plan Description Substantially all full time County employees are participants in the FloridaRetirement System FRS a multiple employer cost sharing public employees defined benefitretirement system administered by the Florida Department of Administration As a general rulemembership in the FRS is compulsory for all employees working in a regularly established position for astate agency county government district school board state university community college or

participating city or special district within the State of Florida The FRS provides retirement anddisability benefits annual cost of living adjustments and death benefits to plan members andbeneficiaries Benefits are established by Chapter 121 Florida Statutes and Chapter 605 FloridaAdministrative Code Amendments to the law can be made only by Act of the Florida legislature

The FRS provides for vesting of benefits after 6 years of credited service Normal retirement benefitsare available to employees who retire at or after age 62 with 6 or more years of service Earlyretirement is available after 6 years of service with a 5 reduction in benefits for each year prior to thenormal retirement age Retirement benefits are based on age average compensation and years ofservice credit where average compensation is computed as the average of an individual s five highestyears of earnings

The Florida Division of Retirement issues a publicly available financial report that includes financialstatements and required supplementary information for the FRS The report may be obtained by writingto Florida Division of Retirement 2639 Monroe Street Building C Tallahassee FL 32399 1560 or fromthe website www frs stateJlus

Fundinq Policy The FRS is noncontributory for members Participating employer contributions arebased upon state wide rates established by the State of Florida These rates are applied to employeesalaries as follows regular employees 9 85 special risk employees 20 92 special riskadministrative support 12 55 elected officials 16 53 senior management 13 12 and DROPparticipants 10 91

F 27



NOTE 14 RETIREMENT PLAN Continued

The County contributed to the plan an amount equal to 7 50 of covered payroll during the fiscal yearended September 30 2006 The County s contributions made during the years ended September 302006 2005 and 2004 were 8 206747 6 866 565 and 6 170 058 respectively equal to therequired contribution requirements for each year Therefore the County does not have a pension assetor liability as determined in accordance with GASB Statement NO 27

NOTE 15 PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICALSERVICES

Plan Descriotion The Monroe County Florida Volunteer Firefighter and Emergency Medical ServicesLength of Service Award Plan LOSAP is a single employer defined benefit pension plan administeredby the Board LOSAP provides retirement and death benefits to plan members and beneficiariesMonroe County Ordinance 026 1999 defines the authority under which contribution and benefitprovisions may be amended This authority is presently held by the County LOSAP had 147participants for the plan year ended December 31 2005 Separate stand alone financial statementsfor LOSAP are not provided

Fundinq Policv The contribution requirements for plan members and the County are established and

may be amended by the Board Plan members are not required to contribute The County contributesan amount determined by an actuarial study Benefits are calculated based on years of service as theparticipants are unpaid volunteers The current contribution rate is 415 per volunteer year of serviceContributions to the plan along with benefits and refunds paid to participants are recorded when dueand payable in accordance with the terms of LOSAP Administrative costs are paid by the County

Annual Pension Cost and Net Pension Obliqation

Annual Required ContributionInterest Adjustment

61 050

Contributions Made

Increase in Net Pension ObligationNet Pension Obligation beginning of year

61 050

61 050

Net Pension Obligation end of year

The annual required contribution for the past year was determined as part of the December 31 2005actuarial valuation using a variation of the aggregate actuarial cost method This method does notidentify or separately amortize unfunded actuarial liabilities The actuarial assumptions included a4 0 investment rate of return b no assumption for mortality pattern as it is inapplicable c noassumption for salary increases as benefits are not based on compensation and d no increase forinflation as benefits are based on a flat amount per year of service The actuarial value of assetsincludes only the fair value of the assets There was no unfunded actuarial accrued liability atDecember 31 2005

F 28



NOTE 15 PENSION PLAN FOR VOLUNTEER FIREFIGHTERS AND EMERGENCY MEDICALSERVICES Continued

Three Year Trend Information

Fiscal Year EndingAnnual Pension Cost

APCPercentage of APC

ContributedNet Pension

Obligation

12 31 031231 0412 31 05

73 84058 90461 050

100100100

NOTE 16 POST RETIREMENT BENEFITS OTHER THAN PENSION

In addition to the retirement plan described in the previous note the County provides post retirementhealth care benefits in accordance with state statutes to all employees who retire from the County withat least 10 years of service and have attained the age of 62 and who are enrolled in the County sgroup health plan Currently 278 retirees are eligible for this post employment benefit Expenditures forpost retirement health care benefits excluding claims are recognized as the premiums are paid Duringthe year ended September 30 2006 expenditures of 1 766 149 were recognized for post retirementhealth care

In regards to these health care benefits the County will be required to implement GASB Statement No45 Accounting and Financial Reporting by Employers for Post employment Benefits Other ThanPensions during the year ended September 30 2008 This statement establishes standards for themeasurement recognition and display of OPEB expense expenditures and related liabilities assetsnote disclosures and if applicable required supplementary information RSI in the financial reports ofthe County In order to determine the projected liability and annual funding costs of this plan the Countyhad an actuarial study performed as of January 1 2005 The projected accrued actuarial liability AALand required annual contribution ARC is projected to be 149 729 833 and 15444 999 respectively

NOTE 17 RECOGNITION OF CLOSURE AND POST CLOSURE COST

As described in Note 1 current regulations of the U S Environmental Protection Agency EPA and theFlorida Department of Environmental Protection FDEP require municipal solid waste landfills to placea final cover on closed landfill areas and to maintain those areas for up to 30 years after closure TheCounty periodically obtains updated and revised estimates of total future closure and postclosure costsfrom its consulting engineers All amounts recognized are based upon what it would cost to performclosure and postclosure functions in current dollars Actual costs may be different due to inflationchanges in technology or changes in laws and regulations

Recognition of the liability for closure and post closure costs is based on the landfill capacity used todate The landfill capacity of the County s previously operated landfills is 100 used and has noremaining landfill life Closure of these landfills was substantially completed during the year endedSeptember 30 1994 The County has another landfill site which has never been used Accordingly nofuture closure cost is accruable except for post closure costs estimated to be incurred in the comingyear At September 30 2006 the estimated future cost for postclosure maintenance which is reportedas a long term liability in the Municipal Service District Waste enterprise fund totaled 379 288

F 29



NOTE 17 RECOGNITION OF CLOSURE AND POST CLOSURE COST Continued

For the public landfill accounted for in the Municipal Service District Waste enterprise fund expensesassociated with the final closure and postclosure maintenance of landfill areas are recognized over theactive life of those areas These costs are recognized in each operating period based on the amount ofwaste received during that period regardless of when cash disbursements are made for these costsThe cumulative effect of updated and revised estimates of closure related costs is recognized in theperiod of the change to the extent it relates to current and past operations

The Florida Department of Environmental Protection approved a post closure operating plan whichpermits the County to fund closure and post closure costs as an operating expense using annualappropriations The landfill is required by state and federal laws and regulations to make annualcontributions to a cash escrow account to meet financial assurance requirements In accordance withlaws and regulations the landfill had cash and investments of 1 790 740 held for these purposes at

September 30 2006 In the event closure escrows and interest earnings prove inadequate due toinflation changes in technology or additional post closure care requirements these costs may need tobe covered by charges to service users

NOTE 18 OPERATING LEASES

The County leases certain office space equipment and vehicles under operating lease agreementsThe following is a schedule by years of minimum future rentals under noncancelable operating leasesas of September 30 2006

Year EndingSeptember 30th

2007

2008

2009

2010

2011

Thereafter

Total

3 704 962

3 671 891

3 773 180

3 768 459

3 678 610

12 019 913

30 617 015

NOTE 19 LITIGATION

The County is a defendant in various lawsuits and is involved in other disputes wherein substantialamounts are claimed In the opinion of the County these suits and claims should not result injudgments or settlements which in aggregate would have a material adverse effect on the County sfinancial condition

F 30



NOTE 20 COMMITMENTS AND CONTINGENCIES

Grant ProQram The County participates in a number of federally assisted grant programs Theseprograms are subject to financial and compliance audits by the grantors or their representatives

ArbitraQe Rebate In accordance with the Tax Reform Act of 1986 any interest earnings on borrowedconstruction funds in excess of the interest costs are required to be rebated to the federal governmentThe County has estimated that there will be no significant liability for arbitrage rebate

Impact Fee Refunds Unexpended or unencumbered funds arising from the collection of impact feesmay be refunded within one year following the end of the sixth year from the date on which the impactfee was paid or within three months of the noncommencement of construction

Letter of Credit The County has issued 30455 000 Key West International Revenue Bonds Series2006 the Series 2006 Bonds for the primary purpose of providing funds necessary to finance theacquisition construction and equipping of certain airport facilities In order to provide security for thepayment when due of the principal and interest on the Series 2006 bonds the County has requestedthe bank to issue its irrevocable direct pay letter of credit naming U S Bank National Association asbeneficiary The letter of credit is for an amount sufficient to pay at a maximum interest rate of 12 perannum This initial agreement expires on October 15 2009

Deficit Fund Balance The County is reporting deficit fund balances of 7 858 602 and 459 302 in theGovernmental Grants and Sheriff s Special Revenue Funds The County anticipates receiving grantreimbursements for these expenditures during the next fiscal year

Excess of Expenditures Over Appropriations For the year ended September 30 2006 expendituresexceeded appropriations in the Community Services Management cost center Board s level ofbudgetary control of the general fund by 2 117 Growth Management Administration cost center of theUnincorporated Area Service District Planning Building and Zoning Special Revenue Fund by

233 858 and Boating Improvement cost center of the Boating Improvement Special Revenue Fund by30 912 These expenditures were funded by greater than anticipated revenues

DesiQnated for Subsequent Years Expenditures During the fiscal year 2007 budget hearings held inSeptember 2006 the Board changed their fund balance policy to enable the County to appropriate77 5 of the General Fund s fund balance Based on this policy the Board adopted its fiscal year 2007operating budget in the General Fund anticipating that fund balance would be 18 301 883 Actual fundbalance for the General Fund ended up being 17 197 707 as of September 30 2006 This resulted inan appropriation of fund balance in the fiscal year 2007 budget in excess of actual of fund balance inthe General Fund by 1 104 176 In addition another 3 869 484 or 22 5 according to fund balancepolicy should not have been appropriated Appropriated revenues for the fiscal year 2007 budget arein excess of 4 973 660 A plan of action increasing other revenue sources and decreasingexpenditures has been implemented in fiscal year 2007 to correct this deficiency

F 31



NOTE 21 CONDUIT DEBT

IDA Health Cal e Facilities Revenue Bonds Series 2003 The Monroe County Industrial DevelopmentAuthority approved the issuance of IDA Health Care Facilities Revenue Bonds Series 2003 not toexceed 2 500 000 and for a loan by the Authority to the Guidance Clinic of the Middles Keys Inc toprovide for the refinancing of certain outstanding indebtedness of the corporation and for financingcertain capital improvements to the corporations health care facilities Ownership of the acquiredfacilities is in the name of the private entity served by the bond issuance Neither the County theAuthority the State nor any political subdivision thereof is obligated in any manner for the repayment ofthe bonds Accordingly the bonds are not reported as liabilities in the accompanying financialstatements Maturity of the Series 2003 Bonds is August 1 2018

Industrial Development Bonds North Key Lamo Utility Corp System Series 2005 The MonroeCounty Industrial Development Authority issued Industrial Development Revenue Bonds North KeyLargo Utility Corporation System Series 2005 totaling 2 965 000 on September 1 2005 for theexchange of a like principal of the 3 400 000 of Industrial Development Revenue Bonds issued in1995 related to the North Key Largo Utility Corporation Project Neither the County the Authority theState nor any political subdivision thereof is obligated in any manner for the repayment of the bondsAccordingly thE bonds are not reported as liabilities in the accompanying financial statements Maturityof the Series 2005 Bonds is March 1 2025

On December 15 2004 the County entered into an agreement with the Key Largo WastewaterTreatment District District whereby the County granted an interest free loan to the District in theamount of 914 285 The District will make annual payments of 91429 to the County beginning onJuly 1 2008 and each July 151 thereafter through July 1 2018

F 32

COMBINING AND INDIVIDUALFUND STATEMENTS AND SCHEDULES


NONMAJOR GOVERNMENTAL FUNDSSPECIAL REVENUE FUNDS

AFFORDABLE HOUSING PROGRAMSTo account for revenues and expenditures of various low income housing programs

LAW LIBRARYTo account Ifor all revenues and expenditures for the County s law library

TOURIST DEVELOPMENT DISTRICTSTo account for the local option three cent bed tax in five districts all districts two cent andadministrative and promotional funds for the expenditures of advertising promotions and special eventsof the County Tourist Development Council

IMPACT FEESTo account for the revenues and expenditures relating to impact fees collected for roadways parks andrecreation libraries solid waste police facilities fire and EMS and fair share housing

FIRE AND AMBULANCE DISTRICTSTo account for revenues and expenditures in districts for fire and ambulance services

UPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICTTo account for all transportation and hospitalization costs of Monroe County trauma patients in DadeCounty

UNINCORPORATED AREA SERVICE DISTRICTSTo account for all revenues and expenditures for planning building and zoning and parks and recreationservices provided only to the unincorporated area of the County

LOCAL HOUSING ASSISTANCE SPECIAL REVENUE FUNDThe Local Housing Assistance Fund is used to account for the revenues and expenditures for theadministration and implementation of the State Housing Initiatives Partnership Program

MUNICIPAL POLICINGTo account for all revenues and expenditures for local road patrol law enforcement in the City ofMarathon City of Layton and Islamorada Village of Islands

911 ENHANCEMENT FEESTo account for fees levied on each telephone access line in Monroe County for the enhancement of the911 emergency telephone system

DUCK KEY SECURITY DISTRICTTo account for the revenues and expenditures in providing security services for the Duck Key District

BOATING IMPROVEMENTTo account for revenues and expenditures for providing boating related activities for removal of vesselsand floating structures deemed a hazard to public safety and health and for manatee and marinemammal protection and recovery

MISCELLANEOUS SPECIAL REVENUETo account for revenues and expenditures earmarked for specific purposes

Continued

NONMAJOR GOVERNMENTAL FUNDSSPECIAL REVENUE FUNDS CONTINUED

ENVIRONMENTAL RESTORATIONTo account for all revenue and expenditures for fines fees collected and earmarked for environmentalprotection

LAW ENFORCEMENT TRUSTTo account for the funds used for the purpose of training police officers and supporting personnel in theprevention investigation detection and identification of crime

COURT FACILITY FEESTo account for revenues collected upon the institution of any civil action suit or proceeding to be usedexclusively il1 providing and maintaining existing and future facilities for the use of the Circuit and CountyCourt systems

DRUG ABUSE TRUSTTo account for assessments collected for drug abuse programs and to disburse assistance grants fordrug abuse treatment and or educational programs which meet the standards for qualification of suchprograms by the Department of Health and Rehabilitative Services

MARATHON MUNICIPAL SERVICETo account for the revenues and expenditures for municipal services for Marathon

WASTEWATERTo account for the revenues and expenditures for wastewater services for Conch Key Bay Point BigCoppitt Key Largo and Stock Island

COMPREHENSIVE PLAN LAND AUTHORITYTo account for the revenues and expenditures for purchasing unbuildable recreational andconservational property and repackaging the property to meet the land use requirements

SHERIFF S INMATE COMMISSARYTo account for the revenues and expenditures of inmate telephone commissions canteen revenues andother inmate programs

SHERIFF S IMPACT SUPPORTTo account for the revenues and expenditures relating to the administration of the South Florida DrugMoney Laundering Task Force

SHERIFF S OFF DUTYTo account for the revenues expenditures and related reimbursements for law enforcement servicesprovided to other organizations

SHERIFF S GRANTSTo account for the revenues and expenditures relating to various grants

SHERIFF S TEEN COURTTo account for the revenues and expenditures pertaining to a program designed to deter juveniles whoare becomin l involved in crime

SHERIFF S SOUTH FLORIDA LAW ENFORCEMENT TRUSTTo account for the revenues and expenditures pertaining to South Florida Drug Money LaunderingTask Force

Continued

NONMAJOR GOVERNMENTAL FUNDSSPECIAL REVENUE FUNDS CONTINUED

SHERIFF S SHARED ASSET FORFEITURETo account for the revenues and expenditures of the Sheriff Departments shared asset forfeitureprogram

SHERIFF S FEDERAL FORFEITURETo account for the Sheriff s revenues produced from forfeitures and expenditures in the preventioninvestigation detection and identification of crime

SHERIFF S HIDTAADMINISTRATIVETo account for the revenues of service fees collected for administering HIDTA grants Expendituresrelate to the costs of administering the grants

SHERIFF S AIRPORT SERVICESTo account for expenditures related to providing security at airports throughout the county

SHERIFF S LAW ENFORCEMENT TRUSTTo account for expenditures to non profit organizations to help deter drug use and juvenile delinquency

SHERIFF S FINE AND FORFEITURETo account for the proceeds from state forfeitures received primarily from the South Florida Drug andMoney Laundering Task Force

CLERK S MODERNIZATION TRUST FUNDTo account for revenue received through an additional recording fee pursuant to Florida Statute28 24 15 d to be used for equipment equipment maintenance training and technical assistancenecessary to modernize the clerk s public records system

CLERK S COURT RELATEDTo account for revenues and expenditures for providing court related services under the direction of theClerk of the Circuit Court

SUPERVISOR S VOTER EDUCATION EQUIPMENTTo account for revenue received through grants for the education of voters and the purchase of voter

equipment

DEBT SERVICE FUNDS

INFRASTRUCTURE SALES SURTAX REVENUE BONDS SERIES 2003To account for accumulation of resources for and payment of interest and principal on the long termdebt incurred in the issuance of 21455 000 in revenue bonds

CAPITAL PROJECT FUNDS

CLERK S REVENUE NOTETo account for the Clerk s network system from the Florida Local Government Finance CommissionLoan

MONROE COUNTY FLORIDACOMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDSSEPTEMBER 30 2006

SPECIAL

Tourist TouristAffordable Development DevelopmentHousing Law All Districts Admin Promo

Programs Library Two Cent Two Cent

ASSETSCash and Cash Equivalents 346 978 2 994 321 3 219 004Accounts Receivable Net 755Due from Other Funds 37 603Due from Other Governmental Units 188 303 352 597Mortgages Notes Receivable 262 743

Allowance for Mortgages Notes Receivable 262 743Interest ReceivablE

Total Assets 346 978 3 182 624 3 609 959

LIABILITIES AND FUND BALANCESLiabilities

Accounts PayablE 483 445 473 969Retainage PayableAccrued Wages and Benefits PayableDue to Other Funds 97 691 181 079Due to Other Governmental Units

Deposits in EscrowDeferred Revenues

Total Liabilities 581 136 655048


Encumbrances

Land AcquisitionMortgage LoansDebt Service

Unreserved Designated for Special Revenue FundUnreserved Undesignated 346 978 2 601 488 2 954 911Total Fund Balances 346 978 2 601488 2 954 911

Total Liabilities and Fund Balances 346 978 3 182 624 3 609 959

G 1

REVENUE FUNDS

Tourist Tourist Tourist Tourist TouristDevelopment Development Development Development DevelopmentDistrict One District Two District Three District Four District Five Impact FeesThree Cent Three Cent Three Cent Three Cent Three Cent Roadways

4 368 729 412 936 1 038 989 1 516 054 1 059 369 6 866 305

12 451 1 627 5 355 4 775 3 667121 149 15 089 45 043 53 695 26401 633

4 502 329 429 652 1 089 387 1 574 524 1 089437 6 866 938

1 184 187 25 814 171 873 389 582 22 322 182 62044 843

2 836 850 2 274 1 72069 208 9 679 18 174 16 442 19 544 627 93326 000 17 748

1 282 231 36 343 207 795 406 024 44 140 857 116

441 8532 778 2453 220 098

4 502 329

393 309393 309

881 592881 592

1 168 5001 168 500

1 045 2971 045 297

6 009 8226 009 822

429 652 1 089 387 1 574 524 1 089437 6 866 938

Continued

G 2

MONROE COUNTY FLORIDACOMBINING BALANCE SHEET CONTINUED


SPECIAL

Impact FeesParks and Impact Fees Impact Fees Impact FeesRecreation Libraries Solid Waste Police Facililies

ASSETSCash and Cash Equivalents 943 865 612 041 39 585 282 096Accounts Receivable NetDue from Other FundsDue from Other Governmental Units 484 128 30Mortgages Notes Receivable

Allowance for Mortgages Notes ReceivableInterest Receivable

Total Assets 943 865 612 525 39 713 282 126


Accounts PayableRetainage PayableAccrued Wages and Benefits Payable 400Due to Other Funds 33 628Due to Other Governmental Units


Total Liabilities 400 33 628


EncumbrancesLand AcquisitionMortgage Loans

Debt Service

Unreserved Designated for Special Revenue FundUnreserved Undesignated 943 465 612 525 39 713 248 498Total Fund Balances 943 465 612 525 39 713 248498


G 3

REVENUE FUNDS

Fire Amb Upper Keys UnincorpImpact Fees District 1 Health Care Fire Amb Area Service

Impact Fees Fair Share Lower and Special District 6 DistrictFire EMS Housing Middle Keys Taxing District Key Largo Parks Rec

285 980 150547 3 148 750 2 149 528 877316 1 760486365 594 545125 566 23 365 13 769

210 1466 482 48 366

286 190 150 547 3 641 376 2 149 528 901 163 1 823 166

6 784 218 939 169 137 346 90 368

155 735 4 855 1 744 27 948835 036 31 998 34 316 192 050

452 11 1 198

402

6 784 1 210 162 37 022 173417 311 966

20 747 760

279406279406

150 547150 547

2410 4672 431 214

2 112 5062 112 506

726 986727 746

1 511 2001 511 200

286 190 150 547 3 641 376 2 149 528 901 163 1 823 166

Continued

G4



SPECIALUnincorp

Area Service local 911Dist Planning Housing Municipal Enhancement

Bldg Zoning Assistance Policing Fees

ASSETSCash and Cash Equivalents 7 194 116 3 198 176 1422 412 638491Accounts Receivable Net 1 034 22 882Due from Other Funds 7 313 195 336Due from Other Governmental Units 408 359 924 19 626Mortgages Notes Receivable 3 837 096

Allowance for Mortgages Notes Receivable 3 837 096Interest Receivable 51 555

Total Assets 7 610 822 3 249 731 1 618 672 680 999


Accounts Payable 700 259 44 188 7 503Retainage PayableAccrued Wages and Benefits Payable 181 879 3 240Due to Other Funds 1 736 650 2 946Due to Other Governmental Units 71 52 966 15Deposits in EscrowDeferred Revenues 4 900

Total Liabilities 2 623 759 97 154 2 961 10 743


Encumbrances 1 06450land AcquisiticlnMortgage loans

Debt Service

Unreserved Designated for Special Revenue FundUnreserved Undesignated 4 880 613 3 152 577 1 615 711 670 256Total Fund Balances 4 987 063 3 152 577 1 615 711 670 256

Total Liabilities and Fund Balances 7 610 822 3 249 731 1 618 672 680 999

G 5

REVENUE FUNDS

Duck Key Miscellaneous Law CourtSecurity Boating Special Environmental Enforcement FacilityDistrict Improvement Revenue Restoration Trust Fees

209 749 1 402 655 3 385 877 244 267 733 847 1 488 694

1 051 56 8148 36 550 51

210 808 1439 205 3 385 928 244 267 790 661 1488 694

4 302 366 757 29 51636 266

24 398 63 507 89370

30 2714 302 427421 123 664 89

206 506206 506

1 011 7841 011 784

3 262 2643 262 264

244 178244 178

790 661790 661

1 488 694

1488 694

210 808 1439 205 3 385 928 244 267 790 661 1488 694

Continued

G 6



SPECIAL

Drug Marathon Conch Key Bay PointAbuse Municipal Wastewater WastewaterTrust Service MSTU MSTU

ASSETSCash and Cash Equivalents 82 081 1 978 422 14 852 123 604Accounts Receivable NetDue from Other Funds 17 006 935Due from Other Governmental Units 185 12Mortgages Notes Receivable


Total Assets 82 081 1 995 613 14 852 124 551


Accounts PayableRetainage PayableAccrued Wages and Benefits Payable 839Due to other FundsDue to other Governmental Units 2


Total Liabilities 839 2


Encumbrances

Land AcquisiticlnMortgage Loans

Debt Service

Unreserved Designated for Special Revenue Fund

Unreserved Undesignated 81 242 1 995 611 14 852 124 551Total Fund Balances 81 242 1 995 611 14 852 124 551

Total Liabilities and Fund Balances 82 081 1 995 613 14 852 124 551

G 7

REVENUE FUNDS

Big Coppitt Key Largo Stock Island Comprehensive Sheriffs SheriffsWastewater Wastewater Wastewater Plan Land Inmate Impact

MSTU MSTU Authority Commissary Support

176 508 1 315425 114 811 9 683 180 301 23134 417 46 912

483 14 953 483 1 827 122 799367 6 264 036 14 682

6 754 563

176 991 1 330 745 149 717 16 701 779 364 652 122 799

4 191

6 282

77 975

1 000 8158 122 799

1 000 8 10 473 78 790 122 799

2 7914236 754 563

175 991175 991

1 330 7371 330 737

149 717149 717

7 145 32016 691 306

285 862285 862

364 652176 991 1 330745 149 717 16 701 779 122 799

Continued

G 8



SPECIAL

Sheriffs

South FloridaSheriffs Sheriff s Sheriffs Law EnforceOff Duty Grants Teen Court ment Trust

ASSETSCash and Cash Equivalents 1 551 797Accounts Receivable Net

Due from Other Funds 1 518 259478 48 843 39 205Due from Other Governmental Units 3425 889 274Mortgages Notes Receivable

Allowance for MClrtgages Notes ReceivableInterest ReceivablE

Total Assets 4 943 1 148 752 48 843 1 591 002


Accounts PayableRetainage PayableAccrued Wages land Benefits PayableDue to Other Funds 4 878 889 274 48 843Due to Other Governmental Units 65Deposits in EscrowDeferred Revenues 718 780

Total Liabilities 4 943 1 608 054 48 843


EncumbrancesLand AcquisitionMortgage Loans

Debt Service

Unreserved Designated for Special Revenue FundUnreserved Undesignated 459 302 1 591 002Total Fund Balances 459 302 1 591 002

Total Liabilities and Fund Balances 4 943 1 148 752 48 843 1 591 002

G 9

4 903 867 1 541 861 147 217 745 848 250 65 591

19 987 75 592 8 522

266 48 046 745 848 250 57 069

20 253 123 63851 94751 947 745 848 250 65 591

4 883 6144 883 614

1418 223

1418 22395 27095 270

4 903 867 1 541 861 147 217 745 848 250 65 591

Continued

G 10



SPECIAL REVENUE FUNDS

Clerk s Clerk s SupervisorsModernization Court Voter Educ

Trust Related Equipment

ASSETSCash and Cash Equivalents 1 301 990 1 016418 63461Accounts Receivable NetDue from Other FundsDue from Other Governmental Units 28 237Mortgages Notes Receivable


Total Assets 1 301 990 1 044 655 63461


Accounts PayablEl 50 776 149 340Retainage PayableAccrued Wages and Benefits PayableDue to Other Funds 566 872Due to Other Governmental Units 308 257Deposits in EscrowDeferred Revenues 20 186

Total Liabilities 50 776 1 044 655


Encumbrances

Land AcquisitionMortgage Loans

Debt Service

Unreserved Designated for Special Revenue FundUnreserved Undesignated 1 251 214 63461Total Fund Balances 1 251 214 63461


G 11

DEBT CAPITALSERVICE PROJECT

FUND FUND

Infrastructure TotalTotal Nonrnajor Sales Surtax Clerk s Nonmajor

Special Revenue Bonds Revenue GovernmentalRevenue Funds Series 2003 Note Funds

76 224462 975 156 89 003 77 288 621473 939 473 939

1 889 537 1 889 5372 519 818 2 519 818

10 854402 10 8544024 099 839 4 099 839

51 555 51 55587 913 874 975 156 89 003 88 978 033

4 926 326 4 926 32681 109 81 109

390 602 390 6026 357 529 6 357 529

5 29 962 529 962402 402

826 084 826 08413 112 014 13 112 014

127 957 127 9572 7 31 423 2 791 42367 54 563 6 754 563

975 156 975 156441 853 441 853

64 686 064 89 003 64 775 06774 801 860 975 156 89 003 75 866 019

87 9 13 874 975 156 89 003 88 978 033

G 12

G 13

REVENUE FUNDSTourist Tourist Tourist Tourist Tourist

Development Development Development Development DevelopmentDistrict One District Two District Three District Four District Five Impact FeesThree Cent Three Cent Three Cent Three Cent Three Cent Roadways

2 390 399 269 128 643 205 625 339 624 710

12451 1 627 5 355 4 775 3 668

209 677 24 909 61 987 70450 53 539 344440

161 386

505 8262 612 527 295 664 710 547 700 564 681 917

767 8572 884 128 378485 880 971 759 774 587 945

2 884 128 378485 880 971 759 774 587 945 767 857271 601 82 821 170424 59 210 93 972 262 031

67 028 9438 17 649 15 917 18 978 627 933

67 028 9438 17 649 15 917 18 978 627 933338 629 92 259 188 073 75 127 74 994 889 964

3 558 727 485 568 1 069 665 1 243 627 970 303 6 899 786

3 220 098 393 309 881 592 1 168 500 1 045 297 6 009 822

Continued

G 14

MONROE COUNTY FLORIDACOMBINING STATEMENT OF REVENUES EXPENDITURES

AND CHANGES IN FUND BALANCES CONTINUEDNONMAJOR GOVERNMENTAL FUNDS


SPECIAL

Impact Fees

Parks and Impact Fees Impact Fees Impact FeesRecreation Libraries Solid Waste Police Facilities

Revenues

Taxes

Licenses and Permits

IntergovernmentialCharges for Services

Fines and Forfeitures

Investment Income 48 078 27 356 3 257 12 541Miscellaneous 46 921 58 858 9 884 21 234

Total Revenues 94 999 86 214 13 141 33 775General Government

Public SafetyPhysical Environment 43 345TransportationEconomic EnvironmentHuman Services

Culture and Recreation 278 790

Court Related

Capital ProjectsDebt Service

Total Expenditures 278 790 43 345Over Under Expenditures 183 791 86 214 30 204 33 775

Other Financing Sources UsesTransfers from Other FundsTransfers to Other FundsProceeds from Sale of Capital Assets

Total Other Financing Sources UsesNet Change in Fund Balances 183 791 86 214 30 204 33 775


Fund Balances September 30 943465 612 525 39 713 248498

G 15

REVENUE FUNDSFire Amb Upper Keys Unincorp

Impact Fees District 1 Health Care Fire Amb Area ServiceImpact Fees Fair Share Lower and Special District f DistrictFire EMS Housing Middle Keys Taxing District Key Largo Parks Rec

7 359 823 1 224 243 974 714

66 341 701 671517 758 17 511 62 524

12 854 6 998 232 608 108 067 52 937 89 65216 145 34 810 7 781 179 28 15628 999 41 808 8 184 311 108 067 1 294 870 1 856 717

348 841 54 4616 785 6 285 075 917 089

299 901

1 232 742

91 989 55 3436 785 6 725 905 299 901 1 026 893 1 232 742

22 214 41 808 1 458406 191 834 267 977 623 975

101434 19 332832422 31 998 31 058 191 880

730 988 31 998 11 726 191 88022 214 41 808 727 418 223 832 256 251 432 095

257 192 108 739 1 703 796 2 336 338 471495 1 079 105

279406 150 547 2431 214 2 112 506 727 746 1 511 200

Continued

G 16


AND CHANGES IN FUND BALANCES CONTINUEDNONMAJOR GOVERNMENTAL FUNDS


SPECIALUnincorp

Area Service Local 911Dist Planning Housing Municipal Enhancement

Bldg Zoning Assistance Policing FeesRevenues

Taxes 713 287 4 035 318Licenses and Permits 2 551 133Intergovernmental 4 746 112 1 348 255Charges for Services 640 999 3 202 180 460 834Fines and Forfeitures 99 731Investment Income 316 360 143 169 92 189 26 686Miscellaneous 40 153 133 246

Total Revenues 9 107 775 1 624 670 7 329 687 487 520General Government 4 271 029 191 744Public Safety 3 399 155 6 619 066 357 292Physical Environment 682 365TransportationEconomic Environment 1 076 237Human ServicesCulture and RecreationCourt Related

Capital ProjectsDebt Service

Total Expenditures 8 352 549 1 076 237 6 810 810 357 292Over Under Expenditures 755 226 548433 518 877 130 228

Other Financing Sources UsesTransfers from Other Funds 504 153 221 279Transfers to Other Funds 1 741 326 2 945Proceeds from Sale of Capital Assets

Total Other Financing Sources Uses 1 237 173 218 334Net Change in Fund Balances 481 947 548433 737 211 130 228



G 17

REVENUE FUNDS

Duck Key Miscellaneous Law CourtSecurity Boating Special Environmental Enforcement FacilityDistrict Improvement Revenue Restoration Trust Fees

20 741

1 052 523 241 638 950 336 201

283 539 176 788 95 01210 259 59 756 154 512 8 978 36 002 65 18373 248 599

84 559 583 596 1 097 742 185 766 131 014 401 3842 177

45415 202 683 96477576 779 23400

168138 865

6 752

90 766 269

47 592 576 779 439 234 23400 96477 26936 967 6 817 658 508 162 366 34 537 401 115

657 19760 439 388 273 153 189

60 439 388 273 657 197 153 18936 967 53 622 270 235 162 366 691 734 247 926

169 539 1 065406 2 992 029 81 812 98 927 1 240 768

206 506 1 011 784 3 262 264 244 178 790 661 1488 694

Continued

G 18

G 19

REVENUE FUNDS

Big Coppitt Key Largo Stock Island Comprehensive Sheriffs Sheriff sWastewater Wastewater Wastewater Plan Land Inmate Impact

MSTU MSTU Authority Commissary Support

106 1 068 332

2 716 861483 14 953 483 434 304 134 784

8 196 69 149 4 844 398 246 11 38788 380 70 077

8 785 1 152434 93 707 3 115 107 515 768 134 78430 969 2 521 753

446 107 134 7841 000 527 333

2 521 753593 354

446 107

69 661

134 7841 0007 785

558 302594 132 93 707

1 135 742

1 135 7427 785 594 132 93 707 1 729 096 69 661

168 206 736 605 56 010 14 962 210 216 201

175 991 1 330 737 149 717 16 691 306 285 862

Continued

G 20

G 21

REVENUE FUNDSSheriff s

Shared Sheriff s Sheriff s Sheriffs Sheriffs SheriffsAsset Federal HIDTA Airport Law Enforce Fine

Forfeiture Forfeiture Administrative Services ment Trust Forfeiture

272 929 1 804 962 96477 16 312233 789

209 008 77 673 1 935

209 008 350 602 233 789 1 804 962 96477 18 247

96 364 605 875 211 694 1 804 962 96477 18 247

96 364 605 875 211 694 1 804 962 96477 18 247112 644 255 273 22 095

657 197

657 197112 644 255 273 22 095 657 197

4 770 970 1 673496 73 175 657 197

4 883 614 1418 223 95 270

Continued

G 22


AND CHANGES IN FUND BALANCES CONTINUED

NONMAJORGOVERNMENTALFUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

SPECIAL REVENUE FUNDS

Clerk s Clerk s Supervisor s

Modernization Court Voter EducTrust Related Equipment

Revenues

Taxes

Licenses and Permits

Intergovernmental 694 068 168 148Charges for Services 462 090 1 899 037Fines and Forfeitures 1 248 352Investment Income 46 716 183Miscellaneous 4 500 4468

Total Revenues 513 306 3 845 925 168 331General Government 156 114Public SafetyPhysical Environment

TransportationEconomic EnvironmentHuman ServicesCulture and RecreationCourt Related 451 934 3 845 925

Capital ProjectsDebt Service 223 225Total Expenditures 675 159 3 845 925 156 114

Over Under Expenditures 161 853 12 217Other Financing Sources Uses

Transfers from Other FundsTransfers to Other FundsProceeds from Sale of Capital Assets

Total Other Financing Sources UsesNet Change in Fund Balances 161 853 12 217

Fund Balances October 1 1413 067 51 244

Fund Balances September 30 1 251 214 63461

G 23

DEBT CAPITAL

SERVICE PROJECT

FUND FUNDInfrastructure Total

Total Nonmajor Sales Surtax Clerk s NonmajorSpecial Revenue Bonds Revenue Governmental

Revenue Funds Series 2003 Note Funds

30 310 508 30 310 508

2 571 874 2 571 87414 048 859 698 510 14 747 3699 773 996 9 773 9962 923 774 2 923 7743 575 162 15496 4 158 3 594 816

1 381 843 1 381 843

64 586 016 714 006 4 158 65 304 1807 614 245 7 614 245

24 332 929 24 332 9292 900 134 2 900 134

767 857 767 85716 732 898 16 732 898

462407 4624071 518 284 1 518 2844 388 894 4 388 894

2 700 2 700370 557 2425 809 2 796 366

59 088 205 2425 809 2 700 61 516 714

5497 811 1 711 803 1 458 3 787466

1 950 584 2 367 408 4 317 9925 165 221 5 165 2211 135 742 1 135 7422 078 895 2 367408 288 513

3418 916 655 605 1 458 4 075 979

71 382 944 319 551 87 545 71 790 040

74 801 860 975 156 89003 75 866 019

G 24

MONROE COUNTY FLORIDASCHEDULE OF REVENUES EXPENDITURES AND CHANGES IN

FUND BALANCES BUDGET AND ACTUALAFFORDABLE HOUSING PROGRAMS SPECIAL REVENUE FUND





Investment Income 6 545 6 545 15462 8 917Miscellaneous 38 510 38 510

Total Revenues 6 545 6 545 53 972 47 427

EXPENDITURESCurrentEconomic Environment

Affordable Housing Initiatives 284 965 284 965 284 965

Excess Deficiency of RevenuesOver Under Expenditures 278420 278420 53 972 332 392

Other Financing Sources UsesReserve for Contingencies 5000 5 000 5 000

Net Change in Fund Balances 283420 283420 53 972 337 392


Fund Balances September 30 9 586 9 586 346 978 337 392

G 25


FUND BALANCES BUDGET AND ACTUALLAW LIBRARY SPECIAL REVENUE FUND





Investment Income 1 558 1 558

Other Financing Sources fUsesTransfers to Other Funds 46 867 46 867




G 26


FUND BALANCES BUDGET AND ACTUALTOURIST DEVELOPMENT ALL DISTRICTS TWO CENT SPECIAL REVENUE FUND





Taxes 3 027 869 3 027 869 2 963 861 64008Charges for Services 18 147 18 147

Investment Income 149 710 149 710Total Revenues 3 027 869 3 027 869 3 131718 103 849

EXPENDITURESCurrent

Economic EnvironmentCultural Umbrella 702 300 702 300 563 690 138 610

Fishing Umbrella 722 800 722 800 567428 155 372Dive Umbrella 400 000 400 000 384 668 15 332Operations Events 1489 278 1452 655 1 198 852 253 803Catastrophic Emergency 807 833 807 833 807 833Special Projects 925 234 925 234 710 826 214408



Other Financing Sources UsesTransfers to Other Funds 57 031 93 654 93 654




G 27


FUND BALANCES BUDGET AND ACTUALTOURIST DEVELOPMENT ADMINISTRATION AND PROMOTIONAL

TWO CENT SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006




Taxes 6 012 268 6 012 268 6 141 702 129434Charges for Services 37 603 37 603Investment Income 161 783 161 783

Total Revenues 6 012 268 6 012 268 6 341 088 328 820

EXPENDITURESCurrent


Advertising and Promotion 4 645 569 4 795 569 4 223 899 571 670Administrative Services 795 668 795 668 614 281 181 387

Catastrophic Emergency 1 254 046 1 104 046 1 104 046Special Projects 1 904 160 1 904 160 1 901 546 2 614


Excess Deficiency of RevenuesOver Under Expenditures 2 587 175 2 587 175 398 638 2 188 537

Other Financing Sources UsesTransfers to Other Funds 210 212 210 212 177 030 33 182

Net Change in Fund Balances 2 797 387 2 797 387 575 668 2 221 719



G 28


FUND BALANCES BUDGET AND ACTUALTOURIST DEVELOPMENT DISTRICT ONE THREE CENT SPECIAL REVENUE FUND





Taxes 2 555 000 2 555 000 2 390 399 164 601

Charges for Services 12 451 12451Investment Income 209 677 209 677

Total Revenues 2 555 000 2 555 000 2 612 527 57 527

EXPENDITURESCurrent


Advertising and Promotion 1 073 746 1 271446 1 146 024 125422Administrative Services 102 082 97490 87 012 10478Catastrophic Emergency 424448 226748 226 748Special Events 180 568 180 568 120416 60 152

Bricks and Mortar 3 236 835 3 236 835 1 530 676 1 706 159Beaches 404 900 404 900 404 900



Other Financing Sources UsesTransfers to Other Funds 62436 67 028 67 028




G 29


FUND BALANCES BUDGET AND ACTUALTOURIST DEVELOPMENT DISTRICT TWO THREE CENT SPECIAL REVENUE FUND





Taxes 251455 251455 269 128 17673Charges for Services 1 627 1 627Investment Income 24 909 24 909

Total Revenues 251455 251455 295 664 44 209

EXPENDITURESCurrent


Advertising and Promotion 304 990 338 383 303 917 34466Administrative Services 11 793 11 793 9 663 2 130

Catastrophic Emergency 33 393

Special Events 48 624 48 624 29 895 18 729

Bricks and Mortar 289 354 289 354 30 537 258 817Tourist I nformation Services 4473 4473 4473

Total Expenditures 692 627 692 627 378485 314 142

Excess Deficiency of RevenuesOver Under Expenditures 441 172 441 172 82 821 358 351

Other Financing Sources UsesTransfers to Other Funds 23 651 23 651 9438 14 213

Net Change in Fund Balances 464 823 464 823 92 259 372 564



G 30


FUND BALANCES BUDGET AND ACTUALTOURIST DEVELOPMENT DISTRICT THREE THREE CENT SPECIAL REVENUE FUND





Taxes 510 000 510 000 643 205 133 205Charges for Services 5 355 5 355Investment Income 61 987 61 987

Total Revenues 510 000 510 000 710 547 200 547

EXPENDITURESCurrent


Advertising and Promotion 225 593 235 593 214 801 20 792Administrative Services 24 621 24 621 20 946 3 675Catastrophic Emergency 73 955 63 955 63 955Special Events 169 628 169 628 107 533 62 095Bricks and Mortar 975 205 975 205 537 691 437 514

Total Expenditures 1469 002 1469 002 880 971 588 031

Excess Deficiency of RevenuesOver Under Expenditures 959 002 959 002 170424 788 578

Other Financing Sources UsesTransfers to Other Funds 34 056 34 056 17 649 16407




G 31


SCHEDULE OF REVENUES EXPENDITURES AND CHANGES IN


TOURIST DEVELOPMENT DISTRICT FOUR THREE CENT SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006




Taxes 506 054 506 054 625 339 119 285

Charges for Services 4 775 4 775Investment Income 70450 70450

Total Revenues 506 054 506 054 700 564 194 510

EXPENDITURESCurrent


Advertising and Promotion 291 339 349 339 301 345 47 994Administrative Services 22 275 22 275 20 104 2 171

Catastrophic Emergency 138 782 80 782 80 782

Special Events 197 852 197 852 103 138 94 714Bricks and Mortar 900 649 900 649 335 187 565 462







G 32


FUND BALANCES BUDGET AND ACTUALTOURIST DEVELOPMENT DISTRICT FIVE THREE CENT SPECIAL REVENUE FUND





Taxes 600 000 600 000 624 710 24 710

Charges for Services 3 668 3 668Investment Income 53 539 53 539

Total Revenues 600 000 600 000 681 917 81 917

EXPENDITURESCurrent


Advertising and Promotion 353 278 411 978 403 174 8 804

Administrative Services 24 885 24 885 22 563 2 322

Catastrophic Emergency 117 545 58 845 58 845

Special Events 260 226 260 226 34 861 225 365Bricks and Mortar 646 153 646 153 127 347 518 806







G 33


FUND BALANCES BUDGET AND ACTUALIMPACT FEES ROADWAYS SPECIAL REVENUE FUND





Investment Income 97400 97400 344440 247 040Miscellaneous 139 000 139 000 161 386 22 386

Total Revenues 236400 236400 505 826 269426

EXPENDITURESCurrent

TransportationFair Share Improvement County Wide 1 167 912 539 979 539 979Fair Share Improvement Dist 1 249 628 249 628 249 628Fair Share Improvement Dist 2 2 123 951 523 951 133 951 390 000Fair Share Improvement Dist 3 3 239 020 3 239 020 3 239 020Fair Share Improve Key Colony Beach 178 613 178 613 171 099 7 514Duck Key Drive 1 600 000 462 807 1 137 193



Other Financing Sources UsesTransfers to Other Funds 627 933 627 933




G 34


FUND BALANCES BUDGET AND ACTUALIMPACT FEES PARKS AND RECREATION SPECIAL REVENUE FUND




REVENUESInvestment Income 15 300 15 300 48 078 32 778Miscellaneous 75 026 75 026 46 921 28 105

Total Revenues 90 326 90 326 94 999 4 673

EXPENDITURESCurrent

Culture and RecreationDistrict 1 Projects 324 544 324 544 324 544District 2 Projects 221 032 221 032 221 032Key Largo Skate Park 591 424 591424 278 790 312 634





Fund Balances September 30 80 582 80 582 943465 862 883

G 35


FUND BALANCES BUDGET AND ACTUALIMPACT FEES LIBRARIES SPECIAL REVENUE FUND




REVENUESInvestment Income 7 000 7 000 27 356 20 356Miscellaneous 45 000 45 000 58 858 13 858

Total Revenues 52 000 52 000 86 214 34 214

EXPENDITURESCurrent

Culture and Recreation

County Wide Library Projects 537 258 537 258 537 258





G 36


FUND BALANCES BUDGET AND ACTUALIMPACT FEES SOLID WASTE SPECIAL REVENUE FUND






Total Revenues 16 500 16 500 13 141 3 359

EXPENDITURESCurrent

Physical Environment

County Wide Solid Waste Projects 75 237 31 892 31 892Weigh Bridge Scale 43 345 43 345






G 37


FUND BALANCES BUDGET AND ACTUALIMPACT FEES POLICE FACILITIES SPECIAL REVENUE FUND






Total Revenues 30 000 30 000 33 775 3 775

EXPENDITURESCurrent

Public SafetyCounty Wide Police Facility 210 553 210 553 210 553





G 38


FUND BALANCES BUDGET AND ACTUALIMPACT FEES FIRE AND EMS SPECIAL REVENUE FUND






Total Revenues 17 636 17 636 28 999 11 363

EXPENDITURESCurrent

Public SafetyDistrict 1 Fire EMS Project 82 871 82 871 82 871District 2 Fire EMS Project 14 554 14 554 14 554District 3 Fire EMS Project 108 828 108 828 6 785 102043Key Colony Beach Fire EMS 17 870 17 870 17 870






G 39


FUND BALANCES BUDGET AND ACTUALIMPACT FEES EMPLOYEE FAIR SHARE HOUSING SPECIAL REVENUE FUND

FOR THE YEAR ENDED SEPTEMBER 3D 2006




Investment Income 160 160 6 998 6 838Miscellaneous 26419 26419 34 810 8 391

Total Revenues 26 579 26 579 41 808 15 229

Other Financing Sources UsesReserve for Contingencies 26 579 26 579 26 579

Net Change in Fund Balances 53 158 53 158 41808 11 350

Fund Balances October 1 108739 108 739 108 739


G 40



FIRE AND AMBULANCE DISTRICT 1 LOWER AND MIDDLE KEYS SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006




Taxes 7 685 821 7 685 821 7 359 823 325 998

Intergovernmental 25 000 25 000 66 341 41 341

Charges for Services 300 000 300 000 517 758 217 758Investment Income 50 000 50 000 232 608 182 608Miscellaneous 7 781 7781

Total Revenues 8 060 821 8 060 821 8 184 311 123490

EXPENDITURESCurrent

General GovernmentTax Collector 225 000 225 000 214 774 10 226

Property Appraiser 94 925 134 067 134 067Total General Government 319 925 359 067 348 841 10 226

Public SafetyFire Rescue Central 2 648 364 2 273 953 2 017 999 255 954Lower Middle Keys Ambulance Dist 4 107 308 4417 308 4 267 076 150 232


Debt Service

Principal 85 690 85 690Interest 6 299 6 299

Total Debt Service 91 989 91 989



Other Financing Sources UsesReserve for Contingencies 381 045 31 903 31 903Transfers from Other Funds 101434 101434Transfers to Other Funds 550 000 832422 832422

Total Other Financing Sources Uses 931 045 864 325 730 988 133 337




G 41


FUND BALANCES BUDGET AND ACTUALUPPER KEYS HEALTH CARE SPECIAL TAXING DISTRICT SPECIAL REVENUE FUND





Investment Income 62 000 62 000 108 067 46 067

EXPENDITURESCurrent

General GovernmentVehicle Replacement 19 360 472 472Tax Collector 100 100 100

Total General Government 19 460 572 572

Human ServicesTrauma District Administration 173 927 188 817 183 843 4 974Trauma Transportation and Treatment 887 975 887 975 114 846 773 129Trauma Pretransportation 147 879 147 879 1 212 146 667Trauma Facility Upgrade 400 000 400 000 400 000

Total Human Services 1 609 781 1 624 671 299 901 1 324 770



Other Financing Sources UsesReserve for Contingencies 61 569 61 569 61 569Transfers to Other Funds 28 000 31 998 31 998





G 42


FUND BALANCES BUDGET AND ACTUALFIRE AND AMBULANCE DISTRICT6 KEY LARGO SPECIAL REVENUE FUND





Taxes 1 276 972 1 276 972 1 224 243 52 729Charges for Services 17 511 17 511Investment Income 14 094 14 094 52 937 38843Miscellaneous 179 179

Total Revenues 1 291 066 1 291 066 1 294 870 3 804

EXPENDITURESCurrent

General GovernmentTax Collector Fees 40 000 39 300 35451 3 849Property Appraiser Fees 18 875 19 010 19 010

Total General Govemment 58 875 58 310 54461 3 849

Public SafetyKey Largo Ambulance 339 767 340467 339 339 1 128Key Largo Fire Rescue 775 751 720 408 577 750 142 658

Total Public Safety 1 115 518 1 060 875 917 089 143 786

Debt Service

Principal 52484 52484Interest 2 859 2 859

Total Debt Service 55 343 55 343



Other Financing Sources UsesReserve for Contingencies 75 120 74 985 74 985Transfers from Other Funds 19 332 19 332Transfers to Other Funds 157 000 157 000 31 058 125 942



Fund Balances October 1 471495 471495 471495


G 43


FUND BALANCES BUDGET AND ACTUALUNINCORPORATED AREA SERVICE DISTRICT

PARKS AND RECREATION SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006



REVENUESTaxes 1 015 834 1 015 834 974 714 41 120Intergovernmental 500 000 500 000 701 671 201 671Charges for Services 35 000 35 000 62 524 27 524Investment Income 20 000 20 000 89 652 69 652Miscellaneous 25 000 25 000 28 156 3 156

Total Revenues 1 595 834 1 595 834 1 856 717 260 883

EXPENDITURESCurrent

Culture and RecreationParks Beaches Unincorporated 1 238 715 1 394 100 1 217 366 176 734School Board Interlocal 111 508 111 508 15 376 96 132Islamorada Parks Beaches 80 000 80 000 80 000Vechicle Replacement 141 831 71 910 71 910



Other Financing Sources UsesReserve for Contingencies 229 676 144 212 144 212Transfers from Other FundsTransfers to Other Funds 220 000 220 000 191 880 28 120





G 44

MONROE COUNTY FLORIDAUNINCORPORATED AREA SERVICE DISTRICT PLANNING

BUILDING AND ZONING SPECIAL REVENUE FUNDSTATEMENT OF REVENUES EXPENDITURES AND CHANGES IN





Taxes 624 553 624 553 713 287 88 734Licenses and Permits 2 370 000 2 636 145 2 551 133 85 012Intergovernmental 3404 000 3404 000 4 746 112 1 342 112Charges for Services 602 000 603 545 640 999 37454Fines and Forfeitures 83 000 83 000 99 731 16 731Investment Income 200 000 200 000 316 360 116 360Miscellaneous 10 000 10 000 40 153 30 153

Total Revenues 7 293 553 7 561 243 9 107 775 1 546 532


Tax Collector Fees 60 000 48 160 30 580 17 580Property Appraiser Fees 35 200 35 200 22 371 12 829Growth Mgmt County Attorney 119 796 128 102 128 102Planning Department 1 338 253 1 269 137 1 200 075 69 0622010 Comprehensive Plan 355 000 544 042 183 216 360 826GIS 721 168 500 646 455462 45 184

Planning Commission 107 835 88 235 86405 1 830Growth Mgmt Administration 921 349 1 903 589 2 137 447 233 858Planning and Building Refunds 8 000 28 000 27 371 629Vehicle Replacement 261 692

Total General Government 3 928 293 4 545 111 4 271 029 274 082

Public SafetyBuilding Department 1 598 021 1 700 960 1 694 301 6 659Code Enforcement 1 121 337 1 086 307 999 955 86 352Fire Rescue Coordinator 450 987 450 987 443 986 7 001Fire Marshall 248 846 262 653 260 913 1 740

Total Public Safety 3419 191 3 500 907 3 399 155 101 752

PhYSical Environment

Pump Out Vessel 69 362 70 907 56 183 14 724Environmental Resources 400 119 422 340 410453 11 887Marine Resources 175 885 220 619 215 729 4 890


Continued

G 45

MONROE COUNTY FLORIDAUNINCORPORATED AREA SERVICE DISTRICT PLANNING

BUILDING AND ZONING SPECIAL REVENUE FUNDSTATEMENT OF REVENUES EXPENDITURES AND CHANGES IN






Other Financing Sources UsesReserve for Contingencies 806442 84 135 84 135Transfers from Other Funds 500 000 504 153 4 153Transfers to Other Funds 1 062 104 1 785 067 1 741 326 43 741





G 46


FUND BALANCES BUDGET AND ACTUALLOCAL HOUSING ASSISTANCE




REVENUES

Intergovernmental 650 000 650 000 1 348 255 698 255Investment Income 143 169 143 169Miscellaneous 75 856 133 246 57 390

Total Revenues 650 000 725 856 1 624 670 898 814

EXPENDITURESCurrent

Economic EnvironmentDown Pymt Wastewater Rehab 03 75 856 69 056 6 800Down Pymt Wastewater Rehab 04 1 550 000 977 888 608 315 369 573Down Pymt Wastewater Rehab 05 869 780 869 780 182 786 686 994Down Pymt Wastewater Rehab 06 270 000 270 000Rental Rehab 04 270 000 409 113 147 860 261 253Rental Rehab 05 163 000 163 000SHIP Fair Housing 05 24 000 24 000 24 000SHIP Fair Housing 06 24 000 24 000 24 000Administration 05 60 240 68 220 68 220Administration 06 70 050 62 069 62 069



Other Financing Sources UsesReserve for Contingencies 04 5 000 5000 5 000Reserve for Contingencies 05 5 000 5 000 5 000Reserve for Contingencies 06 104 149 104 149 104 149

Total Other Financing Sources rUses 114 149 114 149 114 149




G 47


FUND BALANCES BUDGET AND ACTUALMUNICIPAL POLICING SPECIAL REVENUE FUND





Taxes 4 213 075 4 213 075 4 035 318 177 757Charges for Services 2 770437 2 770437 3 202 180 431743Investment Income 25 000 25 000 92 189 67 189

Total Revenues 7 008 512 7 008 512 7 329 687 321 175

EXPENDITURESCurrent

General Government

Property Appraiser 75 119 75 119 73 685 1 434Tax Collector 110 000 130 000 118 059 11 941

Total General Government 185 119 205 119 191 744 13 375

Public SafetyInsurance Unincorporated Layton 437 000 437 000 436495 505Insurance Islamorada 179 604 179 604 178 863 741Insurance Marathon 164 300 164 300 149 154 15 146Sheriff Unincorporated Layton 3 022 214 3 022 214 3 022 214Sheriff Islamorada 1421 135 1421 135 1420 017 1 118Sheriff Marathon 1 157 973 1 157 973 1 157 973School Crossing Guard 254 350 254 350 254 350




Other Financing Sources UsesReserve for Contingencies 171 190 151 190 151 190Transfers from Other Funds 221 279 221 279Transfers to Other Funds 78 384 78 384 2 945 75 439





G 48


FUND BALANCES BUDGET AND ACTUAL911 ENHANCEMENT FEES SPECIAL REVENUE FUND




REVENUES

Charges for Services 407 144 407 144 460 834 53 690Investment Income 10 000 10 000 26 686 16 686

Total Revenues 417 144 417 144 487 520 70 376

EXPENDITURESCurrent

Public Safety911 Enhancement Fund 335 132 335 132 256 092 79 040911 Wireless 110 000 110 000 101 200 8 800Mapping Software 250 043 250 043 250043





G 49


FUND BALANCES BUDGET AND ACTUALDUCK KEY SECURITY DISTRICT SPECIAL REVENUE FUND




REVENUES

Charges for Services 1 052 1 052Investment Income 4 000 4 000 10 259 6 259Miscellaneous 75 000 75 000 73 248 1 752

Total Revenues 79 000 79 000 84 559 5 559

EXPENDITURESCurrent

General GovernmentTax Collector 6 000 6 000 2 177 3 823

Public SafetyIsland Security 150 000 150 000 45415 104 585







G 50


FUND BALANCES BUDGET AND ACTUALBOATING IMPROVEMENT SPECIAL REVENUE FUND





Charges for Services 500 000 500 000 523 241 23 241

Investment Income 15 000 15 000 59 756 44 756Miscellaneous 599 599

Total Revenues 515 000 515 000 583 596 68 596

EXPENDITURESCurrent


Boating Improvement 600 000 545 867 576 779 30 912

ExcesslDeficiency of RevenuesOver Under Expenditures 85 000 30 867 6 817 37 684


Reserve for Contingencies 42 337 1 627 1 627Transfers to Other Funds 94 843 60439 34404

Total Other Financing Sources Uses 42 337 96470 60439 36 031


Fund Balances October 1 1 065406 1 065406 1 065 406


G 51


FUND BALANCES BUDGET AND ACTUALMISCELLANEOUS SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006



REVENUES

Licenses and Permits 20 741 20 741Charges for Services 196 000 1 243 718 638 950 604 768Fines and Forfeitures 80 500 104 786 283 539 178 753Investment Income 40 000 40 000 154 512 114 512

Total Revenues 316 500 1 388 504 1 097 742 290 762

EXPENDITURES

CurrentPublic Safety

Interagency Communications 708 787 370 788 139 395 231 393Education Building Department 15 000 15 000 13 015 1 985Teen Court 40 000 50 273 50 273


Economic EnvironmentSFETC Travel 9 000 9 000 168 8 832

Human ServicesFL Keys Council for the Handicapped 24 878 24 878 8 542 16 336Traffic Educ Ord 021 2002 80 500 80 500 80 050 450Legal Aid 50 273 50 273


Culture and RecreationSettlers Park Landscaping 10 315 10 315 10 315Key Largo Community Park 24 786 6 752 18 034

Total Culture and Recreation 10 315 35 101 6 752 28 349

Court Related

Alt Dispute Resolution Family 25 304 25 304 5 874 19430Alt Dispute Resolution Civil 11 904 11 904 1 551 10 353Ord 016 2004 St Court Sup 101 409 11 540 89 869SA Ct Tech FS28 24 12 E 238 647 238 647PD Ct Tech FS28 24 12 E 159 097 71 801 87 296J Ct Tech FS28 24 12 E 397 745 397 745

Total Court Related 37 208 934 106 90 766 843 340


Continued

G 52


FUND BALANCES BUDGET AND ACTUAL CONTINUEDMISCELLANEOUS SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006

OriginalBudget

Final

Budget Actual

Excess Deficiency of RevenuesOver Under Expenditures 609 188 181415 658 508

Other Financing Sources UsesTransfers to Other Funds 428 273

609 688

388 273

Net Change in Fund Balances 609 188 270 235




Positive

Negative

839 923

40 000

879 923

2 382 841 2 382 341 3 262 264 879 923

G 53


FUND BALANCES BUDGET AND ACTUALENVIRONMENTAL RESTORATION SPECIAL REVENUE FUND





Fines and Forfeitures 330 000 330 000 176 788 153 212Investment Income 8 978 8 978

Total Revenues 330 000 330 000 185 766 144 234

EXPENDITURESCurrent

Physical EnvironmentEnvironmental Restoration 320 980 320 980 23400 297 580KLWT Plant Site Mitg Pro 294 708 294 708

Total Environmental Restoration 320 980 615 688 23400 592 288

Culture and RecreationSettler s Park 9 083 9 083 9 083



Other Financing Sources UsesReserve for Contingencies 50 138 50 138 50 138Transfers from Other Funds 294 708 294 708





G 54


FUND BALANCES BUDGET AND ACTUALLAW ENFORCEMENT TRUST SPECIAL REVENUE FUND





Fines and Forfeitures 774 075 95 012 679 063Investment Income 2 000 2 000 36 002 34 002

Total Revenues 2 000 776 075 131 014 645 061

EXPENDITURESCurrent

Public SafetyLaw Enforcement 1 900 775 975 96477 679 498

Excess Deficiency of RevenuesOver Under Expenditures 100 100 34 537 34437

Other Financing Sources UsesTransfers from Other Funds 657 197 657 197Transfers to Other Funds

Total Other Financing Sources Uses 657 197 657 197




G 55


FUND BALANCES BUDGET AND ACTUALCOURT FACILITY FEES SPECIAL REVENUE FUND




REVENUES

Charges for Services 250 000 250 000 336 201 86 201Investment Income 65 183 65 183

Total Revenues 250 000 250 000 401 384 151 384

EXPENDITURESCurrent

Court RelatedCourt Facility 1 000 000 846 811 269 846 542


Other Financing Sources UsesReserve for Contingencies 5000 5 000 5 000Transfers to Other Funds 153 189 153 189

Total Other Financing Sources rUses 5 000 158 189 153 189 5 000




G 56


FUND BALANCES BUDGET AND ACTUALDRUG ABUSE TRUST SPECIAL REVENUE FUND




REVENUES

Charges for Services 9 775 9 775 16 720 6 945Investment Income 3 942 3 942

Total Revenues 9 775 9 775 20 662 10 887

EXPENDITURESCurrent

Human ServicesCare Center Women s Program 35465 35465 35465Juvenile Drug Court 28430 28430 23 641 4789





G 57


FUND BALANCES BUDGET AND ACTUALMARATHON MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND





Taxes 1 258 344 1 258 344 1 208 989 49 355Charges for Services 17 006 17 006Investment Income 107 619 107 619

Total Revenues 1 258 344 1 258 344 1 333 614 75 270

EXPENDITURESCurrent

General GovernmentTax Collector Fees 50 000 50 000 35 220 14 780

Physical EnvironmentMarathon Wastewater 1 980427 1 980427 1 045 912 934 515

Total Expenditures 2 030427 2 030427 1 081 132 949 295






G 58


FUND BALANCES BUDGET AND ACTUALCONCH KEY MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND





Investment Income 600 700 100

Other Financing Sources UsesReserve for Contingencies 600 600

Net Change in Fund Balances 700 700


Fund Balances September 30 14 152 14 852 700

G 59


FUND BALANCES BUDGET AND ACTUALBAY POINT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND





Taxes 69723 69 723 67 352 2 371Charges for Services 935 935Investment Income 5 180 5 180

Total Revenues 69 723 69 723 73467 3 744

EXPENDITURESCurrent

General GovernmentTax Collector Fees 560 3 560 1 937 1 623


Bay Point Wastewater 72 172 72 172 72 172



Other Financing Sources UsesReserve for Contingencies 3 046 46 46




G 60


FUND BALANCES BUDGET AND ACTUALBIG COPPITT MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND





Taxes 106 106Charges for Services 483 483Investment Income 8 196 8 196

Total Revenues 8 785 8 785

EXPENDITURESCurrent


Big Coppitt Wastewater 104 991 104 991 104 991Big Coppitt Municipal Svc District 6 000 6 000 1 000 5 000







G 61


FUND BALANCES BUDGET AND ACTUALKEY LARGO MUNICIPAL SERVICE TAXING UNIT SPECIAL REVENUE FUND




REVENUESTaxes 1 114 243 1 114 243 1 068 332 45 911

Charges for Services 14 953 14 953Investment Income 69 149 69 149

Total Revenues 1 114 243 1 114 243 1 152434 38 191

EXPENDITURESCurrent

General GovernmentTax Collector Fees 30 000 40 000 30 969 9 031


Key Largo Wastewater 1 620 000 1 620 000 527 333 1 092 667


Excess Deficiency of RevenuesOver Under Expenditures 535 757 545 757 594 132 1 139 889





G 62

MONROE COUNTY FLORIDACOMPREHENSIVE PLAN LAND AUTHORITY SPECIAL REVENUE FUND





REVENUES

Intergovernmental 2 500 000 2 500 000 2 716 861 216 861Investment Income 100 000 100 000 398 246 298 246

Total Revenues 2 600 000 2 600 000 3 115 107 515 107

EXPENDITURESCurrent

General GovernmentAdministrative 339 200 339 200 236 723 102477

Capital OutlayLand and Land Rights Acquisition 9487 444 9487 444 2 285 030 7 202414



Other Financing Sources UsesProceeds from Sale of Capital Asset 1 260 000 1 260 000 1 135 742 124 258





Reconciliation of BudgetaryTo Full Accrual Basis

Reconciling Items

Mortgage Receivable 6 754 563

16 691 306

G 63


FUND BALANCES BUDGET AND ACTUALSHERIFF S INMATE COMMISSARY SPECIAL REVENUE FUND




REVENUES

Charges for Services 434 304 434 304Investment Income 10 000 11 387 11 387Miscellaneous 368 000 434 720 70 077 364 643

Total Revenues 378 000 446 107 515 768 69 661

EXPENDITURESCurrent

Public Safety 378 000 446 107 446 107

Excess Deficiency of RevenuesOver Under Expenditures 69 661 69 661



G 64


FUND BALANCES BUDGET AND ACTUALSHERIFF S IMPACT SUPPORT SPECIAL REVENUE FUND




REVENUES


EXPENDITURESCurrent

Public Safety 145 000 145 000 134 784 10 216

Excess Deficiency of RevenuesOver Under Expenditures



G 65


FUND BALANCES BUDGET AND ACTUALSHERIFF S OFF DUTY SPECIAL REVENUE FUND




REVENUES

Intergovernmental 705 705Charges for Services 94 600 75 251 74 536 715

Total Revenues 94 600 75 251 75 241 10

EXPENDITURESCurrent

Public Safety 94 600 75 241 75 241

Excess Deficiency of RevenuesOver Under Expenditures 10 10


Fund Balances September 30 10 10

G 66


FUND BALANCES BUDGET AND ACTUALSHERIFF S GRANTS SPECIAL REVENUE FUNDFOR THE YEAR ENDED SEPTEMBER 30 2006



REVENUES

Intergovernmental 573 000 1 710469 1 329 689 380 780Miscellaneous 631 724 543 308 88416

Total Revenues 573 000 2 342 193 1 872 997 469 196

EXPENDITURESCurrent

Public Safety 707 700 2 789 382 2 789 382


Other Financing Sources UsesTransfers from Other Funds 134 700 447 189 447 189

Net Change in Fund Balances 469 196 469 196



G 67


FUND BALANCES BUDGET AND ACTUALSHERIFF S SOUTH FLORIDA LAW ENFORCEMENT TRUST SPECIAL REVENUE FUND





Fines and Forfeitures 12 000 20 058 1 020 352 1 000 294Investment Income 13 000 29427 29 427

Total Revenues 25 000 20 058 1 049 779 1 029 721

EXPENDITURESCurrent

Public Safety 25 000 20 058 20 058





G 68


FUND BALANCES BUDGET AND ACTUALSHERIFF S SHARED ASSET FORFEITURE SPECIAL REVENUE FUND




REVENUESInvestment Income 210 000 96 364 209 008 112 644

EXPENDITURESCurrent

Public Safety 210 000 96 364 96 364

Excess Deficiency of RevenuesOver Under Expenditures 112 644 112 644

Fund Balances October 1 4 770 970 4770 970 4 770 970


G 69


FUND BALANCES BUDGET AND ACTUALSHERIFF S FEDERAL FORFEITURE SPECIAL REVENUE FUND





Intergovernmental 440 000 272 929 272 929Investment Income 70 000 77 673 77 673

Total Revenues 510 000 350 602 350 602

EXPENDITURES

CurrentPublic Safety 1 019 000 605 875 605 875


Other Financing Sources UsesTransfers to Other Funds




G 70


FUND BALANCES BUDGET AND ACTUALSHERIFF S HIDTA ADMINISTRATION SPECIAL REVENUE FUND






EXPENDITURESCurrent

Public Safety 220 000 211 694 211 694




G 71


FUND BALANCES BUDGET AND ACTUALSHERIFF S AIRPORT SERVICES SPECIAL REVENUE FUND





Intergovernmental 1 585 000 1 804 962 1 804 962

EXPENDITURESCurrent

Public Safety 1 585 000 1 804 962 1 804 962




G 72


FUND BALANCES BUDGET AND ACTUALSHERIFF S FINE AND FORFEITURE SPECIAL REVENUE FUND





Intergovernmental 30 000 30 413 16 312 14 101Investment Income 1 500 1 935 1 935Miscellaneous 50 000 81 389 81 389

Total Revenues 81 500 113 737 18 247 95490

EXPENDITURESCurrent

Public Safety 81 500 113 737 18 247 95490


Other Financing Sources UsesTransfers to Other Funds 657 197 657 197



G 73


FUND BALANCES BUDGET AND ACTUALCLERK S RECORDS MODERNIZATION SPECIAL REVENUE FUND





Charges for Services 564 000 564 000 462 090 101 910Investment Income 10 000 10 000 46 716 36 716Miscellaneous 4 500 4 500

Total Revenues 574 000 574 000 513 306 60 694

EXPENDITURESCurrent

Court RelatedModernization Trust 841 500 1 149 275 451 934 697 341Debt Service 330 021 330 021 223 225 106 796

Total Expenditures 1 171 521 1479 296 675 159 804 137



Contingency 93 500 152 500 152 500



Fund Balances October 1 1413 067 1 413 067 1413 067


G 74


FUND BALANCES BUDGET AND ACTUALCLERK S COURT RELATED SPECIAL REVENUE FUND




REVENUESIntergovernmental 206443 683 752 694 068 10 316Charges for Services 2 677 723 2 630414 1 899 037 731 377Fines and Forfeitures 1 247 982 1 263 982 1 248 352 15 630Miscellaneous 4468 4 468

Total Revenues 4 132 148 4 578 148 3 845 925 732 223

EXPENDITURESCurrent

Court RelatedClerk Administration 310 034 310 034 291 396 18 638Clerk Records Management 345 143 345 143 323 965 21 178Clerk Jury Management 141 964 94484 84 835 9 649Clerk Circuit Court Criminal 820 340 811 840 758 109 53 731Clerk Circuit Court Civil 389 437 389437 361 127 28 310Clerk Circuit Court Family 117 359 125 859 123 744 2 115Clerk Circuit Court Juvenile 154 666 162 666 162 361 305Clerk Circuit Court Probate 67 774 98 254 98 251 3Clerk County Court Criminal 700 987 658 987 614 579 44 408Clerk County Court Civil 309 906 301 906 272 937 28 969Clerk County Court Traffic 700 616 759 616 754 621 4 995



Other Financing Sources UsesReserve for Contingencies 299 922 299 922 299 922Transfer to Board of County CommissionersTransfer to Florida Department of Revenue 220 000 220 000


Net Change in Fund Balances 226 000

Fund Balances October 1 226 000


G 75


FUND BALANCES BUDGET AND ACTUALINFRASTRUCTURE SALES SURTAX REVENUE BONDS SERIES 2003 DEBT SERVICE FUND





Intergovernmental 698 510 698 510 698 510Investment Income 15496 15496

Total Revenues 698 510 698 510 714 006 15496

EXPENDITURESCurrent

Debt Service2003 Revenue Bonds

Principal 1 170 000 1 170 000 1 170 000Interest 629 330 629 330 617 630 11 700Other Debt Service Costs 10 000 10 000 4 500 5 500

Total 2003 Revenue Bonds 1 809 330 1 809 330 1 792 130 17 200

Guaranteed Entitlement Loan

Principal 571 254 571 254 571 254Interest 63 000 63 000 62425 575Other Debt Service Costs 20 000 20 000 20 000

Total Guaranteed Entitlement Ln 654 254 654 254 633 679 20 575



Other Financing Sources UsesReserve for Contingencies 289 038 289 038 289 038Transfer from Other Funds 2 367408 2 367408 2 367408





G 76


FUND BALANCES BUDGET AND ACTUALCLERK S REVENUE NOTE CAPITAL PROJECTS FUND





Investment Income 4 158 4 158

EXPENDITURESCurrent

Capital OutlayCourt Services Network System 90 000 2 700 87 300


Net Change in Fund Balances 90 000 1 458 91458



G 77

MONROE COUNTY FLORIDAONE CENT INFRASTRUCTURE SURTAX CAPITAL PROJECT FUND

SCHEDULE OF REVENUES EXPENDITURES AND CHANGESIN FUND BALANCES BUDGET AND ACTUALFOR THE YEAR ENDED SEPTEMBER 30 2006



REVENUESTaxes 11 500 000 11 500 000 15 201 005 3 701 005Charges for Services 284 101 284 101Investment Income 650 000 650 000 1491 068 841 068

Total Revenues 12 150 000 12 150 000 16 976 174 4 826 174

EXPENDITURESCurrent

Capital OutlayVehicle Replacement 16 445 16445 16445Strategy Policy 51 974General Government Projects 15 808 000 6 258 074 226 707 6 031 367

Total General Government 15 876419 6 274 519 226 707 6 047 812

Public Safety 999 949 5 890 100 478472 5411 628Physical Environment 6 100 000 8 621 583 8 530 359 91 224Transportation Const Mgmt 579 272 570 558 325 612 244 946Economic Environment Hsg Dev 182 543 1 709 714 1 709 712 2Human Services 400 000 199 000 3 751 195 249Culture and Recreation 8 748 000 5 748 000 278 924 5469 076

Total Capital Outlay 32 886 183 29 013474 11 553 537 17459 937



Other Financing Sources UsesReserve for Contingencies 1 844 820 8428 8 428Transfers to Other Funds 6 587443 12 296 544 8 248 557 4 047 987

Total Other Financing Sources rUses 8432 263 12 304 972 8 248 557 4 056415




G 78

MONROE COUNTY FLORIDAINFRASTRUCTURE SALES SURTAX REVENUE BONDS

SERIES 2003 CAPITAL PROJECTS FUNDSCHEDULE OF REVENUES EXPENDITURES AND CHANGES IN




REVENUESInvestment Income 300 000 300 000 676 808 376 808

EXPENDITURESCurrent

Capital OutlayGeneral Government Projects I 1 220 330 8 153 189 625 818 7 527 371General Government Projects II 6 500 000 6 500 000 6 263 785 236 215

Total General Government 7 720 330 14 653 189 6 889 603 7 763 586

Public SafetyPublic Safety Projects I 5 050 000 1 600 000 1 341 940 258 060Public Safety Projects II 1 000 000


Human ServicesHuman Service Projects I 3 000 000 1 670 330 286 944 1 383 386Human Service Projects II 1 000 000Total Human Services 4 000 000 1 670 330 286 944 1 383 386

Total Capital Outlay 17 770 330 17 923 519 8 518 487 9405 032


Other Financing Sources UsesTransfers from Other Funds 153 189 153 189




G 79


MONROE COUNTY FLORIDACOMBINING STATEMENT OF NET ASSETS

INTERNAL SERVICE FUNDSSEPTEMBER 3D 2006

Worker s Group RiskCompensation Insurance Management

Fund Fund FundASSETS

Current AssetsCash and Cash Equivalents 7 301 461 15 075 641 5 873 144Accounts Receivable Net 36 045 5 323 1 382Due from Other Funds 19 169 221 990Due from Other Governmental Units 79 512Interest Receivable 1 225

Total current assets 7 356 675 15 383 691 5 874 526

Noncurrent AssetsLand and Other Nondepreciable Assets

Capital Assets Net of Accum Depreciation 4 735 1 006 3 041Total Noncurrent Assets 4 735 1 006 3 041

Total Assets 7 361410 15 384 697 5 877 567

LIABILITIESCurrent Liabilities

Accounts Payable 80 140 257 302 175445Accrued Wages and Benefits Payable 5 317 5 838 5427Claims and Judgements Payable 1 861 867 3 092481 1 501 607Due to Other FundsDue to Other Governmental Units 29493Accrued Compo Absences Payable 11 054 11 867Other Current Liabilities 599 496

Total Current Liabilities 1 988470 3 356 117 1 694 346

Noncurrent LiabilitiesAccrued Compo Absences Payable 9485 16 711 9 288

Total Liabilities 1 997 955 3 372 828 1 703 634

NET ASSETS

Invested in Capital Assets Net of Related Debt 4 735 1 006 3 041Unrestricted 5 358 720 12 010 863 4 170 892

Total Net Assets 5 363455 12 011 869 4 173 933

G 80

Fleet

ManagementFund Total

1 328 442 29 578 688338 43D88

241 159256 910 336422

1 2251 585 690 30 200 582

54 000 54 0001 282 096 1 290 8781 336 096 1 344 878

2 921 786 31 545460

82469 595 35632 141 48 723

6455 955355 832 355 832

2949311 048 33 969

1 095481490 7 520423

56 872 92 356

538 362 7 612 779

1 336 0961 047 328

1 344 87822 587 803

2 383424 23 932 681

G 81

MONROE COUNTY FLORIDACOMBINING STATEMENT OF REVENUES EXPENSES AND

CHANGES IN FUND NET ASSETSINTERNAL SERVICE FUNDS


Worker s Group Risk

Compensation Insurance ManagementFund Fund Fund

Operating Revenues

Charges for Services 1 640 018 14 346 845 1 568 888Miscellaneous 245 626 189 005 3 192 153

Total operating revenues 1 885 644 14 535 850 4 761 041

Operating ExpensesPersonnel Services 137 728 171 122 148 504Operations 404 346 588 233 1 575 969Depreciation and Amortization 1 296 911 709Asserted and Paid Claims 2 033 326 10 308 270 294 353

Total operating expenses 2 576 696 11 068 536 2 019 535

Operating Income Loss 691 052 3467 314 2 741 506

Non Operating Revenues ExpensesInvestment Income 342 638 570 096 237467Gain Loss on Disposition of Assets 349 61 770

Total Non Operating Revenues Expenses 342 638 569 747 175 697

Income Loss Before Contributionsand Transfers 348414 4 037 061 2 917 203

Transfers to Other Funds

Capital Grants and Contributions

Change in Net Assets 348 414 4 037 061 2 917 203

Total Net Assets October 1 5 711 869 7 974 808 1 256 730

Total Net Assets September 30 5 363455 12 011 869 4 173 933

G 82

Fleet


3 341 245 20 896 996945 3 627 729

3 342 190 24 524 725

940 162 1 397 5161 844 750 4 413 298

76 389 79 30512 635 949

2 861 301 18 526 068

480 889 5 998 657

84 592 1 234 7932 505 64 624

82 087 1 170 169

562 976 7 168 826

355 686 355 68630 210 30 210

237 500 6 843 350

2 145 924 17 089 331

2 383424 23 932 681

G 83

MONROE COUNTY FLORIDACOMBINING STATEMENT OF CASH FLOWS

INTERNAL SERVICE FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

G 84

Fleet


1428 366 5 237 2921 802 718 15 503 0401 979486 16 766 927

660 337 982 232282 216 360 685

945 3 603 700

309 990 6 234 188

355 686 355 686

355 686 355 686

22 626 86 161157 157

22469 86 004

84 592 1 233 56984 592 1 233 569

16427 7 026 067

1 312 015 22 552 621

1 328442 29 578 688

Continued

G 85

MONROE COUNTY FLORIDACOMBINING STATEMENT OF CASH FLOWS CONTINUED

INTERNAL SERVICE FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

Worker s Group RiskCompensation Insurance Management

Fund Fund Fund

Reconciliation of operating income Iossto net cash provided by used in

operating activities

Operating income Ioss 691 052 3467 314 2 741 506

Adjustments to reconcile operating income Iossto net cash provided by used in operatingactivities

Depreciation and Amortization 1 296 911 709

Change in assets and liabilitiesIncrease Decrease in Accounts receivable 36 045 10427 1 589Increase Decrease in Due from other fundsIncrease Decrease in Due from other gov t units 4 768 51 271

Increase Decrease in Accounts payable 50 368 135 987 160 893Increase Decrease in Accrued wages benefits 1 633 1495 1 378Increase Decrease in Claims judgments payable 129 615 3 310Increase Decrease in Due to other funds 142 5 923Increase Decrease in Due to other gov tunits 1 228Increase Decrease in Comp absences payable 994 1 553 11 867Increase Decrease in Other current Iiabiiiities 3 651 2 389

Total adjustments 145 620 90 297 170 513

Net cash provided by used inoperating activities 545432 3 557 611 2 912 019

Noncash investing capital and financing activities

Contribution of capital assets from gov t

Loss on disposition of assets 349 61 770

Cash ReconciliationUnrestricted 7 301461 15 075 641 5 873 144

G 86

Fleet


480 889 5 998 657

76 389 79 305

338 24 3671 473 1473

111 296 157 79965 068 282 18012 126 16 632

126 30589 688 95 753

36 1 2645 539 14 859

6 040170 899 235 531

309 990 6 234 188

30 210 30 210

62 119

1 328 442 29 578 688

G 87

MONROE COUNTY FLORIDACOMBINING STATEMENT OF FIDUCIARY NET ASSETS

ALL AGENCY FUNDSSEPTEMBER 30 2006

G 88

MONROE COUNTY FLORIDACOMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS

ALL AGENCY FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

10 01 2005 Additions Deductions 09 30 2006Clerk s General

AssetsCash and Cash Equivalents 4 516 534 48424 231 49 280 598 3 660 167Accounts Receivable 10 798 53 232 57 703 6 327

Total assets 4 527 332 48477 463 49 338 301 3 666494

LiabilitiesDue to Others 2 886 950 3 262 056 3 847 915 2 301 091Due to Other Governmental Units 1 640 382 45 215407 45490 386 1 365403

Total liabilities 4 527 332 48477 463 49 338 301 3 666494

Sheriffs GeneralAssets

Cash and Cash Equivalents 632 896 2 509420 2 396 731 745 585Total assets 632 896 2 509420 2 396 731 745 585

LiabilitiesDue to Others 632 896 2 503 252 2 396 731 739417Due to Other Funds 6 168 6 168

Total liabilities 632 896 2 509420 2 396 731 745 585

Taa and LicenseAssets

Cash and Cash Equivalents 194 257 12 114 707 12 131 371 177 593Accounts Receivable 2 787 755 2 032

Total assets 197 044 12 114707 12 132 126 179 625

LiabilitiesDue to Others 1 099 32 170 31 173 2 096Due to Other Governmental Units 195 945 12 082 537 12 100 953 177 529

Total liabilities 197 044 12 114 707 12 132 126 179 625

Continued

G 89

MONROE COUNTY FLORIDACOMBINING STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS CONTINUED

ALL AGENCY FUNDSFOR THE YEAR ENDED SEPTEMBER 30 2006

10 01 2005 Additions Deductions 09 30 2006ProDertv TaxAssets

Cash and Cash Equivalents 2 583 522 238 928 789 237435 849 4 076462Accounts Receivable 25 115 140

Total assets 2 583 547 238 928 904 237435 849 4 076 602

LiabilitiesDue to Others 9 282 8 863 697 8 854 546 18433Due to Other Governmental Units 2 574 265 230 065 207 228 581 303 4 058 169

Total liabilities 2 583 547 238 928 904 237 435 849 4 076 602

Total All Aaency FundsAssets

Cash and Cash Equivalents 7 927 209 301 977 147 301 244 549 8 659 807Accounts Receivable 13 610 53 347 58458 8499

Total assets 7 940 819 302 030494 301 303 007 8 668 306

Liabilities

Due to Others 3 530 227 14 661 175 15 130 365 3 061 037Due to Other Governmental Units 4410 592 287 363 151 286 172 642 5 601 101Due to Other Funds 6 168 6 168

Total liabilities 7 940 819 302 030494 301 303 007 8 668 306

G 90

STATISTICAL SECTION

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Monroe County Florida

Changes in Net Assets ContinuedLast Five Fiscal Years

accrual basis ofaccounting

Fiscal Year2002 2003 2004 2005 2006

Net expense revenue

Governmental activities 96 910 755 108411 019 103 535 358 109 704 143 132 621 551Business type activities 1 174 783 5 927 559 4 024 816 5 540 995 2 558 552

Total primary government net expense 95 735 972 102483 460 99 510 542 104 163 148 130 062 999

General Revenues and Other

Changes in Net AssetsGovernmental activitiesTaxesAd Valorem Taxes 54 584 047 58 170 115 60 113 153 65 213 691 71 978 592Tourist Impact Tax 1 972 187 2 078 380 2 280 226 2 319 138 2 337 667Gas Tax 5 038 354 5 087 735 5 391 138 5 565 189 5 442 9501 2 Cent Sales Tax 7424 697 7 787 670 8484 851 8 163 088 8453 482One Cent Infrastructure Tax 12 769 884 12 884 890 15 365 641 14 875 923 15 201 005Tourist Development Tax 11 799 207 12 395 648 13 653 340 13 924 863 13 658 344Other Taxes 1 128 287 1 233 000 3 044 564 3 546 375 3 567410

Other State Shared Revenue 3 154471 3 152 543 3 200402 3 296 240 3 366 289Investment Income 3 848 672 2 939 632 2 744 110 5 611 225 9 502 953Miscellaneous 3 890 714 3 082404 2 418 079 7 683 121 6 221 014Transfers 749401 659 908 973 933 973 933 147 818

Total government activities 106 359 921 109471 925 117 669437 131 172 786 139 581 888

Business type activitiesInvestment Income 554 700 401 560 358 972 742461 1 737 753Miscellaneous 57 779 16 825 115 925 28 891Transfers 749401 659 908 973 933 973 933 147 818

Total business type activities 194 701 200 569 598 136 115 547 1 914462

Total primary government 106 165 220 109 271 356 117 071 301 131 057 239 141496 350

Change in Net Assets

Governmental activities 9449 166 1 060 906 14 134 079 21468 643 6 960 337Business type activities 980 082 5 726 990 3426 680 5 425 448 4 473 014

Total primary government 10429 248 6 787 896 17 560 759 26 894 091 11433 351

H 4

Monroe County FloridaGovernmental Activities Tax Revenues By Source

Last Five Fiscal Years

accrual basis of accounting

Sales Taxes

State Local Local TouristFiscal Property Tourist Sales Development OtherYear Tax Impact Tax Tax Tax Taxes Total

2002 54 584 047 1 972 187 25 232 935 11 799 207 1 128 287 94 716 663

2003 58 170 115 2 078 380 25760 295 12 395 648 1 233 000 99 637438

2004 60 113 153 2 280 226 29 241 630 13 653 340 3 044 564 108 332 913

2005 65 213 691 2 319 138 28 604 200 13 924 863 3 546 375 113 608 267

2006 71 978 592 2 337 667 29 097437 13 658 344 3 567 410 120 639 450

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Principal Property TaxpayersSeptember 30 2006

2006 1997

Percentage of Percentage ofTaxable Total Taxable Taxable Total Taxable

Assessed Assessed Assessed AssessedTaxpayer Value Rank Value Value Rank Value

BellSouth Southern Bell 73458 624 1 0 34 65 015 092 1 0 89

Fla Keys Electric Co Op 72406 440 2 0 33

Casa Marina Owner LLC 45 887445 3 0 21 47486 846 2 0 65

Windward Point LLC 43 709 650 4 0 20

Galleon Condo Assoc 42 086 530 5 0 19

Cheeca Holdings LLC 32 816 249 6 0 15 22 978 118 4 0 31

Tannex Development Corp 32 349480 7 0 15

Hawks Cay Investors LTD 28 325 854 8 0 13

Pier House Joint Venture 27 176 268 9 0 12 26 717 925 3 0 36

KW Beach Suites LTD 22 000 000 10 0 10

Holiday Inn Key West 18 967 691 5 0 26

Hyatt Key West 18 633 955 6 0 25

The Reach 18461 335 7 0 25

Southernmost Beach LP 16 356 173 8 0 22

Holiday Isle 15 365 591 9 0 21

Ocean Key House 15 339 123 10 0 21

420 216 540 1 93 265 321 849 3 62

Source Monroe County Property Appraiser

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less Amounts

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Service Fund Total

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H 15

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Monroe County FloridaDirect and Overlapping Governmental Activities Debt

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Governmental UnitDebt

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Monroe County does not have any direct and overlapping governmental activities debtas of September 30 2006

H 16


Legal Debt Margin InformationLast Ten Fiscal Years

There are no State laws or County ordinances establishing a legal debt margin for years 1997 2006

H 17


Pledged Revenue CoverageGovernmental Activities

lastTen Fiscal Years

Sales Tax Revenue BondsFiscal Debt ServiceYear Collections Principal Interest Total Coverage

1997 12 009 003 3 185 000 1 698 580 4 883 580 2461998 13 217 392 3450 000 999484 4449 484 2 971999 12 996 907 3 732 500 972 300 4 704 800 2 762000 12 387 681 3 945 000 760 366 4 705 366 2 632001 12 719 998 4 127 500 574 555 4 702 055 2 712002 12 645 370 4 280 000 419 774 4 699 774 2 692003 12 884 890 4 995 000 604 715 5 599 715 2 302004 15 039 016 3 387 500 750 952 4 138452 3 632005 14 875 923 1 157 500 640 780 1 798 280 8 272006 15 201 005 1 187 500 617 630 1 805 130 842

Guaranteed Entitlement Bonds and Notes

Fiscal Debt Service

Year Collections Principal Interest Total Coverage

1997 2 387 289 383 333 290 620 673 953 3 541998 2 886 806 397 500 276 170 673 670 4 291999 2 946 989 416 667 260 270 676 937 4 352000 2448 727 432 500 243 040 675 540 3 622001 2 065418 451 667 224 223 675 890 3 062002 1 951 730 471 667 203 743 675410 2 892003 1 992 079 530 299 143 080 673 379 2 962004 2 170 003 553 597 95444 649 041 3 342005 2 249 626 568 719 79 157 647 876 3472006 2 332 385 587 428 62425 649 853 3 59

Racetrack Funds Bonds

Fiscal Debt ServiceYear Collections Principal Interest Total Coverage

1997 223 250 182 500 25 790 208 290 1 071998 223 250 197 500 18 050 215 550 1 041999 223 250 150 000 9 500 159 500 140

Note Details regarding the Countys outstanding debt can be found in the notes to the financial statements

H 18


PLEDGED REVENUE BONDS AND NOTES

BUSINESS TYPE ACTIVITIES

LAST TEN FISCAL YEARS

MUNICIPAL SERVICE DISTRICT WASTE

NET DEBT SERVICEFISCAL GROSS AVAILABLE TIMESYEAR REVENUE EXPENSES REVENUE PRINCIPAL INTEREST TOTAL COVERAGE

1997 15 352 388 13452 269 1 900 119 355 000 536 732 891 732 2 131998 16 116 708 14 058422 2 058 286 375 000 515 788 890 788 2 311999 43 130 141 42 069 856 1 060 285 405 000 493 288 898 288 1 182000 14 648 737 12 760 853 1 887 884 425 000 468 380 893 380 2 112001 14 283 981 12 046 585 2 237 396 455 000 441 605 896 605 2 502002 13 891 015 12 738 898 1 152 117 480 000 412485 892485 1 292003 13459 762 12 663 904 795 858 323 087 205 854 528 941 1 502004 13 963 983 13459 548 504435 423468 151 265 574 733 0 882005 14 980 597 14 113 833 866 764 437 909 136 825 574 734 1 512006 16 619 082 15 364 085 1 254 997 452 841 121 975 574 816 2 18

KEY WEST AIRPORT

NET DEBT SERVICEFISCAL AVAILABLE AVAILABLE TIMESYEAR REVENUE EXPENSES REVENUE PRINCIPAL INTEREST TOTAL COVERAGE

2006 N A N A N A 222 372 222 372 N A a

a Pursuant to Resolution 238 B Section 5 03 the rate covenant for this bond issue commences in fiscal year 2007

N A Not Available

Gross Revenue shall mean all rates fees charges assessments or other income receivedpursuant to the management and operation ofthe Municipal Service District Waste facilitiesFiscal year 1999 revenue includes grants and transfers necessary to fund Hurricane Georgesexpenditures

Expenses exclude depreciation of fixed assets and amortization of deferred charges which are reflectedas expenses in the financial statements

Available Revenue shall mean income from operations PFC revenues and PFC fund balance

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COMPLIANCE SECTION


CHERRYBEKAERr

HOLLAND

IndeDendent Auditors ReDort on Internal Control Over Financial ReDortina andOn ComDliance and Other Matters Based on an Audit of Financial Statements

Performed in Accordance with Government Auditina Standards


We have audited the financial statements of the governmental activities the business type activitieseach major fund and the aggregate remaining fund information of Monroe County Florida theCounty as of and for the year ended September 30 2006 which collectively comprise the County sbasic financial statements and have issued our report thereon dated February 2 2007 We did notaudit the financial statements of the Monroe County Housing Finance Authority the Authority theCounty s discretely presented component unit Those financial statements were audited by otherauditors whose report thereon has been furnished to us and our opinion insofar as it relates to theamounts included for the Authority is based solely on the report of other auditors We conducted ouraudit in accordance with auditing standards generally accepted in the United States of America and thestandards applicable to financial audits contained in Government Auditing Standards issued by theComptroller General of the United States

Internal Control over Financial Reporting

In planning and performing our audit we considered the County s intemal control over financialreporting in order to determine our auditing procedures for the purpose of expressing our opinions onthe financial statements and not to provide an opinion on the internal control over financial reportingOur consideration of the internal control over financial reporting would not necessarily disclose allmatters in the internal control over financial reporting that might be material weaknesses A materialweakness is a reportable condition in which the design or operation of one or more of the internalcontrol components does not reduce to a relatively low level the risk that misstatements caused byerror or fraud in amounts that would be material in relation to the financial statements being auditedmay occur and not be detected within a timely periOd by employees in the normal course of performingtheir assigned functions We noted no matters involving the intemal control over financial reporting andits operation that we consider to be material weaknesses

1 1

Compliance and Other Matters

As part of obtaining assurance about whether the County s financial statements are free of materialmisstatement we perfonmed tests of its compliance with certain provisions of laws regulationscontracts and grant agreements noncompliance with which could have a direct and material effect onthe determination of financial statement amounts However providing an opinion on compliance withthose provisions was not an objective of our audit and accordingly we do not express such an opinionThe results of our tests disclosed an instance of noncompliance or other matters that are required to bereported under Government Auditing Standards which is described in the accompanying schedule offindings and questioned costs as item 06 01

We noted other matters involving internal control over financial reporting that we have reported tomanagement of the County in a separate management letter dated February 2 2007

This report is intended solely for the infonmation and use of management the County Mayor and Boardof County Commissioners of Monroe County Florida and applicable state and federal agencies and isnot intended to be and should not be used by anyone other than these specified parties

CHERRY BEKAERT HOLLAND LLP

ctr 8M f Lt

Orlando Florida

February 2 2007

1 2

CHERRYBEI AERTHOLLANDfRflfIJDI tBLIn 0111A I

ONSllllA IS

IndeDendent Auditors ReDort on ComDllance and Internal ControlOver ComDliance ADDlicable to each Malor Federal Awards

Proaram and State Financial Assistance Prolects


Compliance

We have audited the compliance of Monroe County Florida the County with the types of compliancerequirements described in the U S Office of Management and Budget OMB Circular A 133Compliance Supplement and the requirements described in the Executive Office of the Governor s

State Projects Compliance Supplement that are applicable to each of its major federal awardsprograms and state financial assistance projects for the year ended September 30 2006 The County s

major federal awards programs and state financial assistance projects are identified in the summary ofauditors results section of the accompanying Schedule of Findings and Questioned Costs

Compliance with the requirements of laws regulations contracts and grants applicable to each of its

major federal awards programs and state financial assistance projects is the responsibility of theCounty s management Our responsibility is to express an opinion on the County s compliance basedon our audit

We conducted our audit of compliance in accordance with auditing standards generally accepted in theUnited States of America the standards applicable to financial audits contained in Government AuditingStandards issued by the Comptroller General of the United States OMB Circular A 133 Audits ofStates Local Governments and Non Profit Organizations and Chapter 10 550 Rules of the AuditorGeneral Those standards OMB Circular A 133 and Chapter 10 550 Rules of the Auditor General

require that we plan and perform the audit to obtain reasonable assurance about whether non

compliance with the types of compliance requirements referred to above that could have a direct andmaterial effect on a major federal awards program or state financial assistance project occurred Anaudit includes examining on a test basis evidence about the County s compliance with thoserequirements and performing such other procedures as we considered necessary in the circumstancesWe believe that our audit provides a reasonable basis for our opinion Our audit does not provide a

legal determination of the County s compliance with those requirements

In our opinion the County complied in all material respects with the requirements referred to abovethat are applicable to each of its major federal awards programs and state financial assistance projectsfor the year ended September 30 2006 However the results of our auditing procedures disclosed oneinstance of noncompliance with those requirements that is required to be reported in accordance with

applicable sections of OMB Circular A 133 which is described in the accompanying Schedule ofFindings and Questioned Costs as Item 06 2

1 3

Internal Control over Compliance

The management of the County is responsible for establishing and maintaining effective intemal controlover compliance with requirements of laws regulations contracts and grants applicable to federalawards programs and state financial assistance projects In planning and performing our audit weconsidered the County s internal control over compliance with requirements that could have a directand material effect on a major federal awards program or state financial assistance project in order todetermine our auditing procedures for the purpose of expressing our opinion on compliance and to testand report on internal control over compliance in accordance with OMB Circular A 133 and Chapter10 550 Rules of the Auditor General

Our consideration of the internal control over compliance would not necessarily disclose all matters inthe internal control that might be material weaknesses A material weakness is a reportable conditionin which the design or operation of one or more of the internal control components does not reduce to a

relatively low level the risk that non compliance with applicable requirements of laws regulationscontracts and grants caused by error or fraud that would be material in relation to a major federalawards program or state financial assistance project being audited may occur and not be detectedwithin a timely period by employees in the normal course of performing their assigned functions Wenoted no matters involving the internal control over compliance and its operation that we consider to bematerial weaknesses

This report is intended solely for the information and use of management the County Mayor and theBoard of County Commissioners of Monroe County Florida and applicable state and federal agenciesand is not intended to be and should not be used by anyone other than these specified parties

CHERRY BEKAERT HOLLAND L L P

6M rfl2JjL L p

Orlando FloridaMarch 19 2007

1 4



Schedule of Expenditures of Federal Awards

and State Financial Assistance ProjectsFor the Year Ended September 30 2006

FederalState AgencyPass through EntityFederal ProQram State Proiect

Department ofAgriculturePassed through State Department of Elder Affairs and Alliance for Aging

NSIP 2006

NSIP 2005

Total Federal Agency

Department of Health and Human Services

Passed through State Department of Elder Affairs and Alliance for AgingTitle IIIB Support Services 2005

Title IIIB Support Services 2006

Total ProgramTitle IIIC 1 Congregate Meals 2005

Title IIIC 2 Home Delivered Meals 2005

Title IIIC 1 Congregate Meals 2006

Title IIIC 2 Home Delivered Meals 2006

Total ProgramTitle III E In Home Services 2005

Title III E In Home Services 2006

Total ProgramPassed through Florida Department of Revenue

Child Support Enforcement Title IV D

Passed through State Department of Community Affairs

Low Income Home Energy Assistance Prog 2005

Low Income Home Energy Assistance Prog 2006

Total ProgramTotal Federal Agency

Department ofHousing and Urban DevelopmentPassed through State Department of Community Affairs

Community Development Block Grant

Department ofthe Interior

Direct ProgramFish and Wildlife Service

Clean Vessel Act 2006

The accompanying notes are an integral part of this schedule

1 5

CFDA

Number Contract Grant Number EXDenditures

10 570

10 570

US651

US551

33 304

849

34 153

93 044 AA529 63 679

93 044 AA629 53 061

116 740

93 045 AA529 74 835

93 045 AA529 100 706

93 045 AA629 58 128

93 045 AA629 105 835

339 504

93 052 AA529 12 684

93 052 AA629 40 972

53 656

93 563 CC344 140 313

93 568 05EA 5K 11 54 01 019 5349893 568 06EA 3M 11 54 01 019 82 362

135 860

786 073

14 228 03DB 1A 11 54 01 H32 307 968

15 616 V l0 Segment 1 21 404

Continued

1 6


Schedule ofExpenditures ofFederal Awards

and State Financial Assistance Projects Continued

For the Year Ended September 30 2006

Federal State AgencyPass through EntityFederal Proaram State Proiect

Department ofJustice

Direct ProgramBureau of Justice Assistance

Bulletproof Vest Partnership ProgramLocal Law Enforcement Block Grant ProgramLocal Law Enforcement Block Grant ProgramTotal Program

Passed through Office of the Attorney General

Victims of Crime Acts

Passed through Florida Department of Law Enforcement

Edward Byrne Memorial Justice Assistance Grant Program US Fellowship 2006Edward Byrne Memorial Justice Assistance Grant Program Boys Girls Club 2006

Edward Byrne Memorial Justice Assistance Grant Program Care Center 2006Edward Byrne Memorial Justice Assistance Grant Program MC Educ Foundation 2006Total Program

Edward Byrne Memorial Formula Grant Program Sheriff Livescan Grant 2006

Edward Byrne Memorial Formula Grant Program Sheriff Livescan Grant 2006

Total ProgramResidential Substance Abuse Treatment MC Jail Incarceration ProgramTotal Federal Agency

Executive Office of the President

Direct ProgramHigh Intensity Drug Trafficking Areas

High Intensity Drug Trafficking Areas












1 7

CFDA

Number Contract Grant Number Expenditures

16 607 32 602

16 592 2003 LB BX 0804 4 906

16 592 2004 LB BX 1113 25 038

29 944

16 575 V5082 305 051

16 738 2006 JAGC MONR 1 M8 138 49 878

16 738 2006 JAGC MONR4 M8 136 16 975

16 738 2006 JAGC MONR 2 M8 135 42 573

16 738 2006 JAGC MONR4 M8 139 29 715

139 141

16 579 06 CJ K3 11 54 01 264 76 862

16 579 06 CJ J3 11 54 01 289 38 431

115 293

16 593 2006 RSAT MONR 1 7Q 003 50 000

672 031

07 13PMIP586

07 13PPRP578

07 13PMIP5980

0713PMIP999

07 14PMIP586

0714PMIP598

07 14PPRP578

07 1 PPRP578

07 12PPRP578

07 12PMIP5981

07 14PMIP999Z

07 14PMIP5980

13PMIP586

13PPRP578

13PMIP598013PMIP999

14PMIP586

14PMIP598

14PPRP578

11PPRP578

12PPRP578

12PMIP5981

4PMIP999Z

14PMIP5980

432 723

109 218

450 120

129 073

519 868

596 300

173 841

78 179

155 378

612 114

14 884

302 229

Continued

1 8


Schedule ofExpenditures of Federal Awards



FederalState AgencyPass through EntityFederal Proaram State Proiect

Executive Office of the President Continued











Department ofTransportationDirect Program

Federal Aviation Administration

Key West AIP 3718

Key West AIP 3721

Key West AIP 3722

Key West AIP 3723

Key West AIP 3724

Key West AIP 3725

Key West AIP 3727

Key West AIP 3728

Key West AIP 3729

Key West AIP 3730

Marathon AIP4420

Marathon AIP4421

Marathon AIP4422

Marathon AIP4423


Federal Highway Administration

Passed through State Department of TransportationHighway Planning and Construction

Transportation Planning Assistance

Florida Keys Scenic Highway Interpretive Master Plan



1 9

CFDA

Number

07 15PMIP586

07 15PMIP598

07 15PPRP578

07 15PMIP598007 15PMIP5981Z07 15PLAP600Z

07 16PMIP586

0716PMIP598

07 16PPRP578

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 106

20 205

20 205

Contract Grant Number

15PMIP586

15PMIP598

15PPRP578

15PMIP598015PMIP5981Z

15PLAP600Z16PMIP586

16PMIP598

16PPRP578

3 12 0037 1802

3 12 0037 021 2003

3 12 0037 022 2003

3 12 0037 023 2004

3 12 0037 024 2004

3 12 0037 025 2004

3 12 0037 027 2005

3 12 0037 028 2006

3 12 0037 029 2006

3 12 0037 030 2006

3 12 0044 020 2004

3 12 0044 021 2005

3 12 0044 022 2006

3 12 0044 023 2006

FAP 8888488

SBF3 003

EXDenditures

4 181 905

1 457 079

3457 043

138 430

9 080

12 000

4 814 293

8444772 289 301

20 777 535

5 492

11 526

7 954

1 746 229

169 466

8 353

3 984 268

491 524

9 211

29 636

150 216

83 647

1 375

557 125

7 221 986

174 999

90 760

265 759

Continued

1 10


Schedule of Expenditures of Federal Awards



FederalState AgencyPass through EntityFederal Proaram State Proiect

Department ofHomeland SecurityPassed through State Department of Community Affairs

Public Assistance ProgramsHurricane Dennis FEMA DR 1595 DR FL

Hurricane Katrina FEMA DR 1602 FL

Hurricane Rita FEMA DR 3259 EM FL

Hurricane Wilma FEMA DR 1609 FL

Hurricane Wilma Sheriff FEMA DR 1609 FL

Total ProgramHomeland Security EOC Security ImprovementsLaw Enforcement Terrorism Prevention

Total ProgramFire Technical Rescue Resource

Emergency Management Base Grant

Homeland SecurityFlorida s Domestic Security Deep Water Vessel Issue

Total ProgramTotal Federal Agency

United States Treasury DepartmentPassed through Office of the Attorney General

Federal Asset Sharing Forfeiture Program

Total Expenditures of Federal Awards


1 11

CFDA

Number Contract Grant Number Expenditures

97 036 06 DN @G 11 54 00 632 565 560

97 036 06 KT 8 11 54 01 516 429 190

97 036 06 RT W 11 54 01 529 50644997 036 10 860 365

97 036 06 WL K 11 54 23 794 1 826 827

14 188 391

97 004 2005 CJ L2 07 54 01 165 22 947

97 004 2006 LETP MONR 1 N 1 027 83 985

106 932

97 007 7 522

97 042 068G 04 11 54 01 098 29 703

97 067 06 DS 3W 11 54 01 309 8 069

97 067 FWCC 05187 114 302

122 371

14 454 919

21 000 605 876

45 147 704

Continued

1 12


Schedule ofExpenditures of Federal Awards



State AQencv Name

Florida Department ofCommunity Affairs

Bicycle Pedestrian Plan 2005

Emergency Management Base Grant 2006

Total Department

Florida Department of Children and Families

Community Care for Disabled Adults 2005

Community Care for Disabled Adults 2006

Total Department

Florida Department of Elder Affairs

Passed through The Alliance for AgingHome Care for the Elderly 2005

Home Care for the Elderly 2006

Total ProgramAlzheimer s Disease Initiative 2005

Alzheimer s Disease Initiative 2006

Total ProgramCommunity Care for Elderly 2005

Community Care for Elderly 2006

Total ProgramTotal Department

Florida Department of Environmental Protection

Exotic Plant Control ServicesSmall Counties Solid Waste 2006

Total Department

Florida Department of Health and Rehabilitative ServicesEMS County Award 2006

Florida Department ofJuvenile Justice

Intensive Delinquency Diversion Service

Information provided for state financial assistance but not required for federal awards


1 13

CSFA

Number ract Grant Number EXDenditures

52 004

52 008

60 008

60 008

FM 252077114011 AN08

06 BG 04 11 54 01 098

28 605

102 959

131 564

KG 052

KG 058

51 255

16 611

67 866

65 001 KH 572 35 644

65 001 KH 672 12 736

48 380

65 004 KZ597 39 341

65 004 KZ697 17 805

57 146

65 010 KC571 313 756

65 010 KC671 115 360

429 116

534642

37 012

64 005

80 022

PL029

SC624

70 764

191 176

261 940

C5044 59 845

P6K01 179 855

1 14

Transfer To

Subrecipients

Continued


Schedule of Expenditures ofFederal Awards



State AQencv Name

Florida Department of State

State Aid to Libraries

Florida Department ofTransportationOverseas Heritage Trail Design ConstructionOverseas Heritage Trail Safety Improvements

Total ProgramLitter Control and Prevention Grant Keep America Beautiful Systems 05 06

Key West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West AirportKey West Marathon AirportMarathon AirportTotal ProgramTotal Department

Florida Fish Wildlife Conservation Commission

Boating Improvement FundPublic Water Access and Marine Facilities Management Plan

Total Department


The accompanying notes are an integral part ofthis schedule

1 15

CSFA

Number ract Grant Number

45 030

55 008

55 008

55 004

55 004

55 004

55 004

55 004

55 004

55 004

55 004

55 004

55 004

55 004

55 004

55 004

77006

77006

06 ST 38

AL005 FM410504 1 54 01

AL146 FM41 0504 1 54 02

AOF24

41265919401 AL021

41286519401 AL288

41458418401 AN103

41459819401 ANB43

41646619401 AN111

41253519401 ANJ94

41468319401 ANL56

41646419401 ANL57

41646919401 ANK50

41265919401 ANU96

41265819401 ANU97

25426919402 AK043

41468419401 ANJ96

04148

EXDenditures

107 885

180471

447461627 932

228

380

31 704

1 137 314

648

761

13 806

1 386

389

6 595

5 217

32 147

127 699

1 053

1 342 331

1 970491

261 969

25 290

287 259

1 16

Transfer To

Subrecipients

Continued


Schedule of Expenditures ofFederal Awards



State AClencv Name

Florida Housing Finance CorpState Housing Initiative ProgramState Housing Initiative ProgramState Housing Initiative Program

Total Department

Total Expenditures of State Financial Assistance



1 17

CSFA

Number

52 901

52 901

52 901

Contract Grant Number

SHIP 02 03 PLAN 4 YR 2



EXDenditures

69 056

756 174

251 007

1 076 237

4 677 584

1 18

Transfer To

Subrecipients

Monroe County FloridaNotes to Schedule of Expenditures of Federal Awards and

State Financial Assistance ProjectsFor the Year Ended September 3D 2006

Note 1 Reporting Entity

For reporting entity purposes the Schedule of Federal Awards and State FinancialAssistance Projects the Schedule presents the Federal and State grant activity ofMonroe County Florida the County primary government and its blended componentunits

Note 2 Summary of Significant Accounting Policies

The accounting policies and presentation of the Schedule of Expenditures of FederalAwards and State Financial Assistance Projects are presented on the modified accrualbasis of accounting and in accordance with accounting principles generally accepted inthe United States of America as applicable to governmental organizations Theinformation in this schedule is presented in accordance with the requirements of OMSCircular A 133 Audits of States Local Governments and Non Profit Organizations andthe Florida Single Audit Act Therefore some amounts presented in this schedule maydiffer from amounts presented in or used in the preparation of the basic financialstatements

Over the past years the County was declared a major disaster area by the President ofthe United States due to damages incurred from several hurricanes As a result theCounty is eligible for financial relief from the Department of Homeland Security FederalEmergency Management Agency Amounts included on the schedule are eligibleexpenditures incurred by the County through September 30 2006 and paid primarilyfrom the Governmental Grants fund These funds were reimbursed with the grant fromthe awarding agencies

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Schedule of Findings and Questioned CostsFederal Awards Programs and State Financial Assistance Projects


PART 1 SUMMARY OF AUDITORS RESULTS

1 The Independent Auditors Report on the financial statements expresses unqualifiedopinions

2 No reportable conditions relating to the audit of the financial statements are reported in theIndependent Auditors Report on Internal Control over Financial Reporting and on

Compliance and Other Matters Based on an Audit of Financial Statements in Accordancewith Government Auditing Standards

3 One nonmaterial instance of noncompliance to the financial statements of Monroe CountyFlorida was disclosed during the audit

4 No reportable conditions relating to the audit of major federal or state financial assistanceprojects are reported in the Independent Auditors Report on Compliance and InternalControl over Compliance Applicable to Each Major Federal Awards Program and StateFinancial Assistance Projects

5 The Independent Auditors Report on Compliance for each Major Federal Awards Programand State Financial Assistance Projects expressed an unqualified opinion

6 One audit finding relative to major federal awards programs for Monroe County Florida isreported in this Schedule

7 No audit findings relative to major state financial assistance projects for Monroe CountyFlorida are reported in this Schedule

8 The threshold for distinguishing Type A and Type B programs projects was 1 354 432 formajor federal awards programs and 300 000 for major state financial assistance projects

9 The County qualified as a low risk auditee for federal Single Audit purposes as that termis defined in OMB Circular A 133

10 The programs projects tested as major programs projects included the following

Federal Programs Federal CFDA No

Federal Aviation Administration 20 106

Public Assistance Programs 97 036

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PART I SUMMARY OF AUDITORS RESULTS CONTINUED

State Projects State CSFA No

Aviation Development Grants 55 004

County Incentive Grant Program Overseas Heritage Trail 55 008

Community Care for the Elderly 65 010

PART 11 FINDINGS FINANCIAL STATEMENTS

This section identifies the reportable conditions material weaknesses and instances ofnoncompliance related to the financial statements that are required to be reported inaccordance with Government Auditing Standards

FINDING 06 01

Non compliance with Laws and Regulations

Criteria Florida General Statutes require that actual expenditures do notexceed appropriated expenditures at the legal level of budgetarycontrol

Condition During our audit we became aware of several instances wherevendor invoices had been received by various departmentpersonnel held for a period of time by these departments andthen submitted for payment to the finance department

Effect The delay in payment and therefore the grant revenue resultedin the County having to report a deficit fund balance of 7 858 602in the Government Grants Special Revenue Fund and 459 302in the Sheriff s Grants Special Revenue Fund The lack of thetimely submission of these invoices for payment also resulted inthe expenditures exceeding appropriations in the CommunityServices Management cost center Board s level of budgetarycontrol of the General Fund by 2 117 Growth ManagementAdministration cost center of the Unincorporated Area ServiceDistrict Planning Building and Zoning Special Revenue Fund by233 858 and the Boating Improvement cost center of the

Boating Improvement Special Revenue Fund by 30 912

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FINDING 06 01 continued

Cause There appears to be a lack of understanding by departments for theneed to submit invoices timely to the Finance Department

Recommendation We recommend that the County implement appropriate proceduresto prevent this from reoccurring in the future

PART III FINDINGS AND QUESTIONED COSTS MAJOR FEDERAL AWARDSPROGRAMS

FINDING 06 02

Non compliance with Laws and Regulations

Federal Aviation AdministrationProgram Name Airport Improvement ProgramCFDA 20 106

Criteria The use of federal funding for construction projects requiresmonitoring of the Davis Bacon Act requirements for contracts

exceeding 2 000

Condition During our audit we were not provided with construction contractsthat included the required language for compliance with the DavisBacon Act for several contractors used in airport construction

projects While the required payroll information was provided forour selected items there was no documentation to support thatthe information was actually reviewed for compliance withappropriate Department of Labor wage determinations We alsonoted that one of the payrolls tested did not include thecertification signed by an official of the contractor

Effect Non compliance with the requirements of grant agreements

Questioned Costs N A We compared the wage rates per the payrolls providedagainst the Department of Labor s wage determinations notingthe wages paid were in compliance

Cause Lack of established procedures for documentation of compliance

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FINDING 06 02 continued

Recommendation We recommend that a procedure be implemented to ensure thereview of Davis Bacon compliance is documented We alsorecommend that contracts with subcontractors contain theappropriate language to ensure compliance with the Davis BaconAct

PART IV FINDINGS AND QUESTIONED COSTS MAJOR STATE FINANCIALASSISTANCE PROJECTS

There are no findings or questioned costs reported

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Monroe County FloridaSummary Schedule of PriorAudit Findings and Corrective Action Plan

Federal Awards Programs and State ProjectsFor the Year Ended September 30 2006

Prior Year Audit Findinas

There were no audit findings in the prior year independent auditors reports thatrequired corrective action

Corrective Action Plan

Finding 06 1

A Name of Contact Person Sal Zappulla Budget and Finance DirectorTina Boan OMB Director

B Corrective Action Appropriate action has been taken regarding the

management and control of invoices Measureshave been implemented to ensure all departmentsfollow the current Monroe County procurementpolicy which requires that departments encumberfunds from their budget allocations in advance for all

goods and services This process is being closelymonitored for compliance which we feel will improveinternal controls and prevent any future budgetarycompliance issues

C Proposed Completion Corrective action to be taken immediately uponcompletion of the audit

Finding 06 2

A Name of Contact Person Peter Horton Airport Director

B Corrective Action Both the Monroe County Legal Department andURS the Airport Engineering firm will be notified ofthe need for Davis Bacon Compliance language inall future construction contracts for GeneralContractor or Subcontractor work on airportprojects In the future at project closeout andbefore the final check is drawn for retainage proofof Davis Bacon compliance will be required from allGeneral and Subcontractors who worked on theprojectCorrective action to be taken immediately uponcompletion of the audit

C Proposed Completion

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CHERRYBEKAERf

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Independent Auditors Management Letter


We have audited the basic financial statements of the governmental activities the business typeactivities each major fund and the aggregate remaining fund information of Monroe County Floridathe County as of and for the year ended September 30 2006 and have issued our report thereon

dated February 2 2007 These financial statements are the responsibility of the County s managementOur responsibility is to express opinions on these financial statements based on our audit We did not

audit the financial statements of the Monroe County Housing Finance Authority the Authority a

discretely presented component unit of the County Those financial statements were audited by otherauditors whose report thereon has been furnished to us and our opinion insofar as it relates to theamounts included for the Authority is based solely on the report of other auditors

We conducted our audit in accordance with auditing standards generally accepted in the United Statesof America and the standards applicable to financial audits contained in Government AuditingStandards issued by the Comptroller General of the United States We have issued our IndependentAuditors Report on Internal Control over Financial Reporting and on Compliance and Other Mattersbased on an Audit of Financial Statements Performed in Accordance with Government AuditingStandards and our Independent Auditors Report on Compliance and Internal Control over ComplianceApplicable to each Major Federal Awards Program and State Financial Assistance Project Disclosuresin these reports which are dated February 2 2007 and March 19 2007 respectively should beconsidered in conjunction with this management letter

Additionally our audit was conducted in accordance with Chapter 10 550 Rules of the Auditor GeneralThose rules Section 10 554 1 h 1 require that we address in the management letter if not alreadyaddressed in the auditors reports on internal controls compliance and other matters or schedule offindings and questioned costs whether or not corrective actions have been taken to address significantfindings and recommendations made in the preceding annual financial audit report There were no

findings in the preceding annual financial audit report

The Rules of the Auditor General Section 10 554 1 h 2 state that a management letter shall have a

statement as to whether or not the County complied with Section 218415 Florida Statutes regardingthe investment of publiC funds In connection with our audit of the basic financial statements of theCounty the results of our tests did not indicate that the County was in noncompliance with Section

218415 regarding the investment of public funds

The Rules of the Auditor General Section 10 554 1 h 3 require disclosure in the management letterof any recommendations to improve the County s management accounting procedures and internalcontrols Reference to recommendations is provided in separate management letters for each Countyagency

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The Rules of the Auditor General Section 10 554 1 h 4 require disclosure in the management letterof the following matters if not already addressed in the auditors reports on compliance and internalcontrols or schedule of findings and questioned costs 1 violations of laws rules regulations andcontractual provisions that have occurred or are likely to have occurred 2 improper or illegalexpenditures 3 improper or inadequate accounting procedures e g the omission of requireddisclosures from the financial statements 4 failures to properly record financial transactions and 5other inaccuracies shortages defalcations and instances of fraud discovered by or that come to theattention of the auditor There were no such matters noted

The Rules of the Auditor General Section 10 554 1 h 5 also require that the name or official title andlegal authority for the primary government and each component unit of the reporting entity be disclosedin the management letter unless disclosed in the notes to the financial statements Such disclosure isincluded in notes to the financial statements

As required by the Rules of the Auditor General Section 10 554 1 h 6 a the scope of our auditincluded a review of the provisions of Section 218 503 1 Florida Statutes regarding financialemergencies In connection with our audit of the financial statements of the County the results of ourtests did not indicate that the County met any of the specified conditions of a financial emergencycontained in Section 218 503 1 However our audit does not provide a legal determination on theCounty s compliance with this requirement

The Rules of the Auditor General Section 10 554 1 h 6 b state that a management letter shallinclude a statement as to whether or not the financial report filed with the Florida Department ofFinancial Services pursuant to Section 218 32 Florida Statutes is in agreement with the annualfinancial audit report for the current audit period and if not explanations of any significant differencesIt should be noted that the County s basic financial statements contain a discretely presentedcomponent unit defined as part of the reporting entity under accounting principles generally acceptedin the United States of America for which the County has not been deemed the local govemingauthority for purpose of the annual report In connection with our audit of the County the results of ourtests indicate that the annual financial report for the year ended September 30 2006 filed with theDepartment of Financial Services is in agreement with the annual financial audit report for the currentaudit period

As required by the Rules of the Auditor General Sections 10 554 1 h 6 c and 10 556 the scope ofour audit included financial condition assessment procedures as of September 30 2006 It ismanagement s responsibility to monitor the County s financial condition and our financial conditionassessment was based in part on representations made by management and the review of financialinformation provided by same The financial condition assessment procedures described abovedisclosed no deteriorating financial conditions

This report is intended solely for the information and use of management the County Mayor and Boardof County Commissioners of Monroe County Florida and applicable state and federal agencies and isnot intended to be and should not be used by anyone other than these specified parties

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Orlando Florida

February 2 2007

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Documents

MONROE COUNTY FLORIDA COMPREHENSIVE ANNUAL...G49 G50 G51 G52 G53 G54 G55 G56 G57 G58 G59 G60 G61 G62 G63 G64 G65 G66 G67 G68 G69 Sheriffs Federal Forfeiture Schedules of Revenues Expenditures