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CAFR Year End 09-30-1994 1oo/H>I ainsolou3 paeo8 aul of >iaai3/JailoaluoO aawea1 auuy-or „.31.1114 pJeo8 au1 of m1aja/aoueuld aoloaala suplueH u�(aule�l `Alaaaouis •podald leloueuid lenuuy anlsuagaadwoO slut }O slualuoo aul 6ulwaouoo suopsanb ao sluawwoo Aue anew nog( dl 7078-7LL (Elg) le aw loeluoo aseald 17661 `oc aagwaldas 6ulpua aeaA leosll JO podaa Ieloueuld lenuuy anlsuagaadwoa Alunoa aeiiloa 91-11 10 Adoo .not pull aseald pasolou3 :waouoo Aew ll wouM 01 9661. `9 AstAl SZONOISSIWW00 AIN1100 311a10 3O 021V08 )121310 3[00x$ 'a 21342100321 AiNnOO 12In00 A1Nn00990E Pon Vo12I01W"S31dVN u++� 121n00 Immo gV0£17X09'0'd 1 , 1SV311V2111INVIWV1 l0££ i. AI-ff,%`� r�- 3SnOH12Jn00ALNn00 713111000 `••• • 111903 ZI932II3 H111 AO 312II'I3 ` de % W„ aatijo� JO cquno3 COLLIER COUNTY, FLORIDA BOARD OF COUNTY COMMISSIONERS TIMOTHY J. CONSTANTINE , CHAIRMAN JOHN C. NORRIS BURT L. SAUNDERS MICHAEL J. VOLPE BETTYE J. MATHEWS COUNTY ADMINISTRATOR W. NEIL DORRILL COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR FISCAL YEAR ENDED SEPTEMBER 30, 1994 CLERK OF CIRCUIT COURT AND -- CHIEF FINANCIAL OFFICER DWIGHT E. BROCK DIRECTOR OF FINANCE KATHRYN HANKINS, C.G.F.O. — Prepared by the Finance Department COUNTY ATTORNEY INDEPENDENTACCOUNTANTS KENNETH B. CUYLER COOPERS & LYBRAND THIS PAGE INTENTIONALLY LEFT BLANK ORGANIZATION CHART -- COLLIER COUNTY COLLIER COUNTY, FLORIDA COLLECTOR I LECTORS LISIHERILIF Guy L. Carlton Do 1 PROPERTY BOARD OF COUNTY APPRAISER COMMISSIONERS JUDICIARY Abs 3ltiaaer Timothy J Constantine Bettye J. Matthews John C. Norrie Burt I. Saunders SUPERVISOR Michael 7 Volpe CrW or Covers/ OF ELECTIONS CLINK or MAID Mary V. Morgan Dwight E. Brook COUNTY ATTORNEY Kenneth a Curler COUNTY MANAGER R. Neil Dorrill ASSISTANT COUNTY TA Imme C. Rilliam Administrative FFICE OF CAPS OFFICE OF MGT. Assistant PROJECTS MGT. AND BUDGET Jennifer Ed • Tom Coareoode Milos Smykowsld Cable Franchise UTUITI<4 PUBLIC EMERGENCY ADMINISTRATIVE COMMUNITT ENVIIiONMENTAL TRANSPORTATION SERVICES SERVICED SERVICER SERVICER DEVELOPMENT SERVICER SERVICER —' lma McNees 1bm Mit Norris game Leo Oohs, Jr. Dick Clerk Main Lorene warp Arehibeid Adudalstration Administration Sewer osaattom H}etita E�aSystems Oe / ddm>a>steattaa avi — Sse1s1 M�Esmlaar H�aaMu� alhw3 noes taw Agencies MTIl .k Management COWER COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT -- YEAR ENDED SEPTEMBER 30, 1994 TABLE OF CONTENTS INTRODUCTORY SECTION Page Transmittal Letter i-xiv Certificate of Achievement xv-xvi FINANCIAL SECTION Report of Independent Accountants 1 COMBINED FINANCIAL STATEMENTS (COMBINED STATEMENTS-OVERVIEW) GENERAL PURPOSE FINANCIAL STATEMENTS: Combined Balance Sheet-All Fund Types and Account Groups 2-4 Combined Statement of Revenues, Expenditures and Changes in Fund Balances-All Governmental Fund Types and Expendable Trust Funds 5 Combined Statement of Revenues, Expenditures and Changes in Fund Balances- Budget (Non-GAAP Budgetary Basis) and Actual All Governmental Fund Types and Expendable Trust Funds 6-7 Combined Statement of Revenues, Expenses and Changes in Retained Earnings -All Proprietary Fund Types 8 Combined Statement of Cash Flows-All Proprietary Fund Types 9-11 Notes to The General Purpose Financial Statements 12-48 COMBINING AND INDIVIDUAL STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES: ...., General Fund Schedule of Revenues, Expenditures and Changes in Fund Balance- Budget (Non-GAAP Budgetary Basis) and Actual 49-50 Special Revenue Funds Combining Balance Sheet 51-52 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 53-54 Combining Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual 55-58 Debt Service Funds Combining Balance Sheet 59 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 60 Combining Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual 61-64 Capital Proiects Funds Combining Balance Sheet 65 Combining Statement of Revenues, Expenditures and Changes in Fund Balances 66 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget(Non-GAAP Budgetary Basis) and Actual 67-69 COWER COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 1994 Table of Contents - Continued Page PROPRIETARY FUND TYPES: Enterprise Funds Combining Balance Sheet 70-71 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 72 Combining Schedule of Revenues, Expenses and Changes in Retained Earnings Budget(Non-GAAP Budgetary Basis) and Actual 73-74 Combining Statement of Cash Flows 75-76 Internal Service Funds Combining Balance Sheet 77 Combining Statement of Revenues, Expenses and Changes in Retained Earnings 78 Combining Schedule of Revenues, Expenses and Changes in Retained Earnings - Budget (Non-GAAP Budgetary Basis) and Actual 79 Combining Statement of Cash Flows 80-81 FIDUCIARY FUNDS AND ACCOUNT GROUPS: Expendable Trust and Agency Funds Combining Balance Sheet-All Fiduciary Funds 82-83 Combining Statement of Revenues, Expenditures and Changes in Fund Balances-All Expendable Trust Funds 84 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances- Budget(Non-GAAP Budgetary Basis) and Actual-All Expendable Trust Funds 85-86 Combining Statement of Changes in Assets and Liabilities -All Agency Funds 87-89 Account Groups and Schedules Schedule of General Fixed Assets by Classification and Source 90 Schedule of General Fixed Assets by Function and Classification 91 Schedule of Changes in General Fixed Assets by Function 92 Schedule of Changes in General Fixed Assets by Classification 93 Schedule of General Long-Term Debt 94 Schedule of Changes in General Long-Term Debt 95-96 SUPPLEMENTAL SCHEDULES: Schedule of Descriptions of General Long-Term Debt General Obligation Bonds 97 Schedule of Description of General Long Term Debt Revenue Bonds, Certificates of Indebtedness and Special Assessment Bonds 98 Schedule of Debt Service Requirements to Maturity General Obligation Bonds 99 1976 Golden Gate General Obligation Bonds 100 1986 Parks General Obligation Refunding Bonds 101 1989 Marco Island Limited General Obligation Bonds 102 Schedule of Debt Service Requirements to Maturity _ Revenue Bonds and Certificates of Indebtedness 103 1973 Race Track Revenue Certificates 104 1977 Guaranteed Entitlement Revenue Bonds 105 1986 Gas Tax Road Improvement Revenue Bonds 106 1990 Special Obligation Revenue Bonds 107 1992 Capital Improvement Revenue Refunding Bonds 108 1994 Capital Improvement Revenue Refunding Bonds 109 Schedule of Descriptions of Enterprise Long-Term Debt Revenue Bonds 110-111 COWER COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 1994 Table of Contents - Continued Page SUPPLEMENTAL SCHEDULES: (Continued) 1981 Marco Island Water and Sewer Revenue Bonds 112 1982 Goodland Water Revenue Bonds 113 1988 Marco Water and Sewer District Special Assessment Bonds 114 1990 Sewer Assessment Bonds 115 1991 County Water and Sewer Revenue Bonds 116 1992 County Water and Sewer Revenue Bonds 117 1994 Taxable County Water and Sewer Refunding Revenue Bonds 118 1994 County Water and Sewer Revenue Bonds 119 STATISTICAL SECTION General Governmental Revenues by Source 120 General Governmental Expenditures by Function 121 Property Tax Levies and Collections 122 Assessed and Estimated Actual Value of Taxable Property 123 Property Tax Rates-All Direct and Overlapping Governments 124 Special Assessment Billings and Collections 125 Computation of Legal Debt Margin 126 Computation of Direct and Overlapping and Underlying Debt 126 Ratio of Net General Bonded Debt to Assessed Values and Net Bonded Debt Per Capita 127 Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Governmental Expenditures 128 Schedule of Water and Sewer Funds Revenue Bond Coverage 129 Salaries and Surety Bonds of Principal Officials 130 Demographic Statistics 131 Property Value, Construction and Bank Deposits 132 Principal Taxpayers 133 Miscellaneous Statistical Data 134 Major Industries Within Collier County 135 Schedule of Insurance In Force 136 SINGLE AUDIT/GRANTS COMPLIANCE Independent Accountants' Report on the Internal Control Structure Based on an Audit of General Purpose Financial Statements Performed in Accordance with Government Auditing Standards. 137-138 Independent Accountants' Report on Compliance Based on an Audit of General Purpose Financial Statements Performed in Accordance with Government Auditing Standards 139 Independent Accountants' Report on Supplementary Schedules of Federal and State Financial Assistance 140 Schedule of Federal Financial Assistance 141-144 Total Federal Financial Assistance 144 Schedule of State Financial Assistance 145-146 Notes to Schedules of Federal and State Financial Assistance 147 Independent Accountants' Report on The Internal Control Structure Used in Administering Federal Financial Assistance Programs 148150 Independent Accountants' Report on Compliance with Specific Requirements Applicable to Major Federal Financial Assistance Programs 151 Independent Accountants' Report on Compliance with General Requirements Applicable to Federal Financial Assistance Programs 152 Independent Accountants' Report on Compliance with Requirements Applicable to State Financial Assistance Programs 153 Schedule of Findings, Questioned Costs and Plan of Corrective Action 154-155 COWER COUNTY, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED SEPTEMBER 30, 1994 Table of Contents-Continued AUDITOR GENERAL Management Letter with Responses 1-8 CLERK OF THE CIRCUIT COURT Financial Statements, Together with Reports of Independent Accountants 1-18 PROPERTY APPRAISER Financial Statements, Together with Reports of Independent Accountants 1-18 SHERIFF Financial Statements, Together with Reports of Independent Accountants 1-22 SUPERVISOR OF ELECTIONS Financial Statements, Together with Reports of Independent Accountants 1-16 TAX COLLECTOR — Financial Statements, Together with Reports of Independent Accountants 1-18 of �,"°��> County of Collier ,�,�� o CLERK OF THE CIRCUIT COURT 1 COLLIER COUNTY COURTHOUSE 3301 TAMIAMI TRAIL EAST P.O.BOX 413044 Fq couwo Fro NAPLES,FLORIDA 33941-3044 CIRCUIT COURT Dwight E.Brock COUNTY COURT CLERK COUNTY RECORDER CLERK BOARD OF COUNTY COMMISSIONERS — March 13, 1995 �- To the Citizens of Collier County: We are pleased to present to you, the Citizens of Collier County, the accompanying Comprehensive Annual Financial Report (CAFR) of Collier County, Florida for the fiscal year ended September 30, 1994. This report was prepared by the staff of the County's Finance Department, who report to the Clerk of the Circuit Court. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Clerk of the Circuit Court as Chief Financial Officer of the County. We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of the County's operations as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain a comprehensive understanding of the County's financial activity have been included. The CAFR is presented in four sections: introductory,financial, statistical and supplemental information. The introductory section includes this transmittal letter, the County's organizational chart with a list of principal officials and the Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended September 30, 1993. The financial section includes the general purpose financial statements and the combined and individual fund and account group financial statements and schedules, as well as the independent accountant's report on the general purpose financial statements. The statistical section includes selected financial and demographic information generally presented on a multiyear basis. The single audit and compliance portion of the CAFR, contained in the supplemental information section, is required under the provisions of the Single Audit Act of 1984 and U.S. Office of Management and Budget Circular A-128, "Audits of State and Local Governments". The Single Audit Act has allowed us to use our existing accounting firm to audit all grants, thereby eliminating the need to hire auditors for each separate grant. Information related to this single audit, including the schedule of federal financial assistance, findings, recommendations, and the independent accountant's reports on the internal control structure and compliance with applicable laws and regulations, are included in the single audit section of this report. 0.1 The County is a non-charter county established under the constitution and the laws of the State of Florida. There are six elected offices consisting of the Board of County Commissioners (Board), .� which is composed of five members; Clerk of the Circuit Court; Property Appraiser;Sheriff; Supervisor of Elections and the Tax Collector. The Board members are elected within single member districts. The remaining five offices are elected County-wide. The Board is the legislative body for the County, having the responsibility of budgeting and providing all the funding used by the various County departments and the separate constitutional officers with the exception of fees collected by the Clerk of the Circuit Court and the Tax Collector. The Clerk of the Circuit Court's Finance Department maintains the accounting system for the Board and Supervisor of Elections. All other constitutional officers maintain their own accounting systems. THE REPORTING ENTITY AND ITS SERVICES The County is located in the southwestern portion of the State of Florida, with Naples being its largest incorporated municipality. The County, whose 1994 population was estimated to be 186,641,derives its economy from wholesale and retail trade, government, tourism, construction, agriculture, cattle ranching and timber. Part of the Everglades National Park, the United States' only subtropical national park, comprises a portion of the County. In terms of land area, the County is the largest county within the State of Florida with forty percent of its area consisting of state or national parks. This report includes the financial statements of the County's funds and account groups. Included are the activities, organizations and functions which are related to the County and controlled by or dependent upon the County's governing body, the Board. The criteria used by the County for including activities in preparing its financial statements are in conformity with the National Council on Governmental Accounting (NCGA) Statement Number Three, "Defining the Governmental Reporting Entity" and Governmental Accounting Standards Board Statement 14, " The Financial Reporting Entity". Control by or dependence on the County was determined on the basis of budgetary oversight, taxing authority, authority to establish rates, outstanding debt secured by revenues or general obligations of the County, the County's obligation to finance any deficits that may occur, funding and selection of governing authority, and other evidence of financial interdependence and the ability to exercise oversight responsibility. Based on the above criteria, the County, through its six elected offices, has been able to provide its citizens with a full range of services. These services include law enforcement, human and community assistance related services, civil and criminal justice services, road and bridge maintenance, planning, parks operation, library services, and other general and administrative support services. In addition, a water and sewer system, emergency medical services, refuse disposal and airport facilities are provided under an enterprise concept with user charges set by the Board. wog ii ECONOMIC CONDITION AND OUTLOOK The County's population has experienced substantial growth over the past decade and is projected to double within the next thirty years as indicated below. The 1990 U.S. Census ranked Naples as the fastest growing metropolitan area in the United States with a 76.9% growth rate from 1980 to 1990. Average Annual Average Annual County Percentage State Percentage Year Population Increase Population Increase 1960 15,753 14.3% 4,951,560 7.9% 1970 38,040 14.2% 6,791,418 3.7% 1980 85,971 12.6% 9,746,961 4.4% 1990 152,100 7.7% 13,152,700 3.3% 2000 222,899 4.7% 15,572,991 2.0% 2010 284,600 2.8% 17,969,295 1.5% 2020 287,800 0.10% 19,991,400 1.1% Source: U.S. Bureau of Census; University of Florida, College of Business Administration, Bureau of Economic and Business Research, Division of Population Studies. As a result of the large population growth experienced by the County, the assessed ad valorem tax base has increased from $6,426,890 in 1985 to $15,313,053 in 1994. Along with planned growth, the County has been able to maintain or improve the level of services provided to its residents. The County has kept the General Fund millage rate of 3.6729 mills below the 10 mill cap and therefore has the flexibility to use property taxes in the future should the need arise. The County's unemployment rate in fiscal 1994 was 8.2%, compared to the statewide rate of 6.6% and the national rate of 6.1%. The majority of employment within the County is in the service area as indicated below. Median family income for Collier County in 1994 was $44,700, the highest in the State of Florida, which is an increase of approximately 21.8% from the 1990 median of $36,700. The County's economy is comprised of a diverse range of industries. Employment opportunities can be found within the service, retail and wholesale trade, agriculture, government, finance, manufacturing, transportation and construction industries. The major industries are comprised of the following: MAJOR INDUSTRIES—EMPLOYMENT COUNT AS OF SEPTEMBER 30,1994 LOCAL GOVERNMENT 9% CONSTRUCTION 8% 1 \ /OTHER 8% ... AGRICULTURE 17% '11! / FINANCE AND INSURANCE 6% RETAIL TRADE 23% SERVICES 29% SOURCE:STATE OF FLORIDA 1993 ANNUAL EDITED ES-202 III MAJOR INITIATIVES CURRENT YEAR Fiscal year 1994 contained numerous accomplishments for the benefit of Collier County residents as a result of the governing Board's commitment to improve services while maintaining or cutting costs. During fiscal year 1994,their efforts paid off through the implementation of cost saving improvements such as: • Consolidation of capital projects functions from six County departments into a centralized Office of Capital Projects Management. • Creation of the Collier County Airport Authority to aid in meeting the demands of increased growth. Airport Authority members secured $3 million in federal and state grants to fund airport infrastructure development at the Everglades Airpark, the Marco Island Executive —. Airport and the Immokalee Regional Airport. • Construction of two new community parks in cooperation with local area schools. The Vineyards Community Park and the Estates Community Park projects combined school and County property to eliminate duplication of facilities, making better use of tax dollars. • Operation and maintenance, by the Road Department, of over 3,500 lane miles of roadways at one of the lowest annual "costs per mile" among the counties in Southwest Florida. Contributing to this success were the completion of various road improvements such as the six-laning of Airport Road, the four-laning of Immokalee Road and the Santa Barbara/Logan "s"-curve. • Completion of the Golden Gate Estates Library along with expansion of the North Naples Library. • Implementation of the RECAP (Reduce Cost of Administrative Personnel) Program as a cost saving measure. The program, designed to fill a limited number of full-time positions through normal attrition at a modified salary level and limited benefits, was responsible for filling seven positions during fiscal year 1994, which resulted in an estimated annualized budget savings of $81,518. • Reduction of the County's aggregate millage rate for the sixth consecutive year. The County continues to have one of the lowest millage rates in the State of Florida. In addition to citizen's desires for cost containment and cost cutting procedures in government is the demand for additional services. To meet this demand, the County successfully completed numerous projects which lead or will lead in the future to improved services for the residents of Collier County. Some of these improvements included: • Enhancement of customer service through the creation and implementation of the County's Public Am.* Assistance Line, KANDU. Citizens may now call directly for assistance with complaints and inquiries. • Acquisition of fifteen acres of property for construction of a community park in Golden Gate Estates and the Gulf Coast Little League Field in East Naples. iv • Addition of two EMS paramedic units to meet the growing emergency medical needs of the County. The units were placed in service in North Naples and Everglades City. The unit in Everglades City is a three-member team consisting of two EMS paramedics and an Ochopee Fire Control District firefighter. — • Assessments and evaluations, by the court counseling staff, of all criminal and civil offenders. This activity,which focuses heavily on substance abusers and domestic violence issues,diverts offenders from re-entering the criminal justice system by referring them to appropriate treatment agencies. FOR THE FUTURE On the drawing board for future construction are projects such as the four-laning of Golden Gate Boulevard, the Golden Gate Estates Park, South Livingston Road,Vanderbilt Beach Road, Orangetree Community Park and a new County maintenance facility. Projects presently under construction and scheduled for completion in the year ahead include the Immokalee Recreation Center and Pool, Immokalee Government Center, a medivac helicopter hanger, the six-laning of Golden Gate Parkway, Goodland Bridge fenders and the expansion of the Golden Gate — Community Center. In addition, the implementation of a 800 MHz intergovernmental radio communications program is underway. This County-wide public safety communication system will be used by EMS, Sheriff and the dependent and independent Fire Districts of Collier County. DEPARTMENTAL FOCUS Each year, the efforts and accomplishments of a specific division within Collier government are highlighted in this section. For fiscal year 1994, the Community Development Services Division has been selected for review. An evaluation of resources and services by the Community Development Services Division resulted in a major reorganization of personnel and a re-prioritization of goals, objectives and policies. The plan developed, prioritized changes in terms of short term goals necessary to address immediate problems and strategic goals to guide the division in the future. Initial steps taken included a decrease in personnel and management initiated expense reductions which resulted in savings in excess of $1.1 million. Another cost-saving event was the Community Development Services Division one-time payment of approximately $2.2 million for their share of the bonded debt used to finance the construction of the Development Services Building. This lump sum payment to the General Fund resulted in future annual savings of approximately $200,000. These savings will permit review and possible reduction of the current level of fees charged to the development industry. v Community Development Services consolidated six departments within the division, into three major departments with focus on functional responsibilities. The three new departments are Planning Services, Permitting and Inspections, and Code Enforcement. The Planning Services Department consolidated all — long-range and current planning, growth management and metropolitan planning organization services, engineering and project review services and corresponding technical support. All permitting applications and review activities were consolidated into the Permitting and Inspections Department. Compliance services, contractor licensing, housing and other code investigations and associated customer service activities were centralized under the Code Enforcement Department. — The Community Development Services Division has taken giant strides toward their goal of re-defining their resources and services around the central theme of a "One-Stop-Shop Permitting Process". Their 1994 achievements embody the Board's mission and commitment to improve services while maintaining or cutting costs. FINANCIAL INFORMATION The Clerk of the Circuit Court, as the County's Chief Financial Officer, is responsible for establishing and maintaining internal controls to provide reasonable, but not absolute, assurance regarding the safeguarding of assets against loss from unauthorized use or disposition and the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept of reasonable _ assurance recognizes that the cost of a control should not exceed the benefits likely to be derived and that the evaluation of costs and benefits requires estimates and judgments by management. All internal control evaluations occur within the above framework. We believe that the County's internal control structure adequately safeguards assets and provides reasonable assurance of proper recording of financial transactions. — Single Audit. As mentioned previously, the County is a recipient of many grants from other governmental units and is responsible for ensuring that proper internal controls are in place to assure that we are in — compliance with applicable laws and regulations related to each grant. These internal controls are audited each year by independent auditors, and hence, the concept of a single audit for all grants. The results of the County's single audit for fiscal year 1994 showed no instances of material weaknesses in internal control — or significant violations of applicable laws and regulations. Budgeting Controls. Formal budgetary integration is employed as a management control device during the year for all fund types. Expenditure controls are set at the appropriation unit level within each cost center. Budgets for all funds are adopted on a basis consistent with generally accepted accounting principles — (GAAP) except as noted in the footnotes to the general purpose financial statements. The County follows the laws of Florida regarding the control, adoption and amendment of the budget during each fiscal year. Internal Audit. The Clerk of the Circuit Court maintains an Internal Audit section. The Internal Audit Department periodically reviews the internal control structure of the various departments under the supervision of the Board and Clerk to ensure they are adequate and operating in an efficient and effective — manner. vi Cash Management. The Clerk of the Circuit Court's Finance department and Treasury Manager monitor the daily cash needs of the County. The County's idle cash is invested in order to maximize interest earnings. The primary goal of the County's investment program is the preservation of capital and therefore safety, liquidity and yield are used, respectively, to evaluate investment opportunities. At the end of the fiscal year, the average life of the investment portfolio was eleven (11) years which is above the average life dictated by the County's investment policy. This deviation was caused, for the most part, by volatile collateralized mortgage obligations (CMO's) purchased from late 1993 to early 1994 which in many cases contained extreme extension risk. CMO's are a form of derivative securities which derive their value from underlying mortgage obligations. With the sharp upward movement of interest rates in 1994, the CMO portion of the portfolio experienced the greatest decline from the original purchase price. These securities have the potential of recovering from year end pricing, but if interest rates continue to rise and prepayments slow any further, the average lives of the securities will lengthen and the resulting values could drop even further. The CMOs, which are 23% of the portfolio, represent an unrealized net loss of $5.5 million at September 30, 1994. To compensate for the lack of liquidity in the portfolio caused by CMO's and to protect against further rises in interest rates, the Clerk's Office is purchasing U.S. Treasury Bills with maturities less than one year. Included in the mortgage section of the portfolio are adjustable rate mortgages (ARMs) that from time to time can be sold without taking losses. By year end, this portion of the County's investment portfolio had been reduced by half and reinvested in Treasury Bills, which helped increase liquidity. It is generally held that there is little or no credit risk in CMO's since the underlying collateral to these derivative securities are Federal Agency guaranteed mortgages. As we move through normal business and interest cycles, it is expected that we will retrieve our original investment although there will be a lost opportunity to invest in better yielding securities. The Clerk of the Circuit Court has implemented corrective action to address the issues stated above. These include the establishment of an Investment Advisory Board comprised of the Tax Collector, the Clerk of the Circuit Court, the Chair of the Board of County Commissioners and two members of the general public. The investment policy is being revised to limit investment activity to those authorized by Florida State Statute _ 125.31 "Investment of Surplus Public Funds: Regulations". In addition, internal controls have been strengthened, procedures have been developed to document investment decisions and the composition of the investment portfolio and the investment strategies systematically reviewed on a regular basis As of September 30, 1994, the County's total cash and investments consisted of $214,599,749 invested as follows: U.S. Instrumentality Securities $ 176,388,736 Deferred Compensation Investments (mutual funds) $ 5,727,970 Cash with Fiscal Agents (October 1, 1994 debt service payments) $ 4,566,221 Cash on hand and interest bearing time and demand deposits $ 23,800,360 Local Governments Surplus Funds Trust Fund $ 4.116,462 vii The following chart represents a historical perspective of the County's interest earnings over the past five years: Fund Types 89-90 90-91 91-92 92-93 93-94 General Fund $ 1,028,781 $ 1,217,004 $ 1,240,740 $ 1,102,921 $ 1,321,898 Special Revenue Funds 1,724,360 2,092,932 1,836,019 1,169,268 1,358,278 Debt Service Funds 785,320 1,079,949 591,961 463,939 411,232 Capital Projects Funds 3,730,985 3,362,512 2,554,551 1,927,945 2,260,253 Proprietary Funds: Enterprise 4,225,358 4,612,559 5,517,345 4,872,044 5,614,857 Internal Service 309,154 419,209 345,105 278,060 376,473 Trust and Agency Funds 312,950 342,833 231,960 156,967 131,163 Total Interest Earnings $ 12,116,908 $ 13,126,998 $ 12,317,681 $ 9,971,144 $ 11,474,154 Note: The enterprise fund's interest earnings are net of capitalized interest. The average interest yield to the County this year was 4.92%. For comparative purposes, the average yields on a 3-month treasury bill and a 6-month treasury bill were 3.76% and 4.08%, respectively. The average yield for investments with the State Board of Administration was 4.19%. General Government Functions. Total general government revenues collected by the County during the year were approximately $147.8 million which is an 8% increase over prior year. This amount included revenues of the general, special revenue, debt service, capital projects and fiduciary fund types, but did not include collections of the proprietary funds. Taxes comprised the largest general government revenue source, which totalled$81.4 million or 55% of total revenues. Ad valorem taxes are the primary source of tax revenue. Other taxes include locally imposed gasoline, cable franchise, 911 enhancement, sales and tourist development tax. The second largest revenue category was intergovernmental revenues of$27.1 million or 18%of total revenues, which included a variety of state and federal shared revenues as well as intergovernmental grants-in-aid. Charges for services in the amount of $11.4 million was the third largest revenue category. These charges include fees collected by the Tax Collector, the Clerk of the Circuit Court and a variety of other user charges. The fourth largest revenue category was impact fees of $6.9 million. The fifth largest category was licenses and permits which amounted to $6.4 million. The remaining general government revenues were composed of fines and forfeitures in the amount of $3.5 million, interest income of $5.5 million, and other miscellaneous revenues, including special assessments, of $5.6 million. Total general government expenditures amounted to approximately $138.7 million, which included capital project expenditures of $20.2 million and debt service expenditures of $10.8 million. The largest functional category was public safety at $48.7 million followed by general government at$30 million. Approximately $6.8 million were expended for physical environment purposes, $8.2 million for transportation,$7.9 million for culture and recreation, $5.6 million for human services and $417 thousand for economic environment. viii The following graphs illustrate a five year history of Collier County's general government revenues by source and expenditures by function. Additional information is located in the Statistical Section of this report. _ GENERAL GOVERNMENT REVENUES TAXES LICENSES INTERGOVERNMENTAL CHARGES FINES MISC AND PERMITS FOR SERVICES DOLLARS(millions) 140 140 00 120 120 100 .' 80 80 % .I • 60 60 40 40 20 1 20 1990 1991 1992 1993 1994 FISCAL YEARS GENERAL GOVERNMENT EXPENDITURES BY FUNCTION GENERAL GOVERNMENT CAPITAL PROJECTS PUBLIC SAFETY PHYSICAL ENVIRONMENT TRANSPORTATION 7.7-TX 1111 ECONOMIC ENVIRONMENT HUMAN SERVICES CULTURE AND RECREATION DEBT SERVICE DOLLARS(millions) 200 200 180% 180 160 160 140 140 120liii jul11120 100 100 80� 60 60 40 20/ ®� ammo" 20 20 1990 1991 1992 1993 1994 FISCAL YEARS ix Total revenues collected for all fund types including the governmental funds listed above as well as the enterprise funds and the internal service funds amounted to approximately $215.83 million, which represents an increase of approximately$16.35 million over the previous fiscal year. The County's expenditures/expenses — for the year were approximately $195.56 million, which represents a decrease of approximately $15.55 million from the previous fiscal year. The following charts show the proportion of total revenues and expenditures/expenses attributed to the various sources and uses. TOTAL REVENUES FISCAL YEAR 1993-1994 — TAXES 38% LICENSES/PERMITS 3% OTHER 2% INTERGOVERNMENTAL 13% - \ INTEREST INCOME 5% IMPACT FEES 3% / CHARGES FOR SERVICES 34% FINES&FORFEITURES 2% TOTAL EXPENDITURES/EXPENSES FISCAL YEAR 1993-1994 PUBLIC SAFETY 25% GENERAL GOVERNMENT 15% INTERNAL SERVICE 7% ECONOMIC ENVIRONMENT 0.2% H 1116. ..� DEBT SERVICE 6% PHYSICAL ENVIRONMENT 25.8% Irw 00, CAPITAL OUTLAY 10% TRANSPORTATION 4% CULTURE&RECREATION 4% HUMAN SERVICES 3% .� x General Fund Unreserved Fund Balance. The unreserved fund balance of the County-wide General Fund reflects an increase of $1.98 million from prior year. During 1994, the Constitutional Officers returned $5.2 million in excess fees to the Board's General Fund as illustrated below. CONSTITUTIONAL OFFICER'S EXCESS FEES CLERK OF PROPERTY SUPERVISOR TAX COURTS APPRAISER SHERIFF OF ELECTIONS COLLECTOR DOLLARS(millions) z.5 zs 2.0 z.o% 1.5 1.5 1.0 1.0 5 0 05 1 0.0 0.0 1991 1992 1993 1994 FISCAL YEARS The following graph reflects the General Fund's unreserved fund balance over the past ten (10) fiscal years. GENERAL FUND UNRESERVED FUND BALANCE FUND BALANCE DOLLARS (millions) 20 20 15 — 15 10 — 10 5 5 0 0 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 FISCAL YEARS Xi The following table identifies the General Fund's unreserved fund balance as a percentage of budgeted appropriations for the past five (5) fiscal years (amounts in thousands). 1990 1991 1992 1993 1994 -- Appropriated budget $ 62,747 $ 70,695 $ 78,738 $ 83,861 $ 88,890 General Fund unreserved fund balance $ 4,075 $ 5,897 $ 10,379 $ 15,259 $ 17,236 r General Fund unreserved fund balance as a percentage of appropriated budget 6.49% 8.34% 13.18% 18.19% 19.39% Unreserved fund balances that are below 5% of annual budgeted expenditures are generally felt to be inadequate to guard against uncertainties. Unreserved fund balances in excess of 10% of annual ._ appropriations are generally deemed excessive overall. However, individual circumstances dictate the actual level. Under State law (Sec. 129.01, F.S.) the County can have a reserve for contingencies of 10% of the total budget plus a reserve for cash balance not to exceed 20% of the budget. Enterprise Operations. Collier County's enterprise fund activities include water and sewer, solid waste disposal, emergency medical services and a small private plane airport. Combined, these operations generated $46.3 million of revenues with water and sewer operations generating $30.4 million or 65% of the total. The Water and Sewer Funds increased their retained earnings by $12.4 million during the current fiscal year. The Solid _ Waste Fund had a corresponding increase of$2.3 million. The Emergency Medical Services Fund showed an increase of$309,242 to their retained earnings for fiscal year 1994, which was after a subsidy transfer from the General Fund of $1.9 million. The Airport Authority Fund generated an increase in fund equity of $39,919. Fiduciary Operations. The County maintains nineteen (19) fiduciary funds which account for ten (10) ._ expendable trust funds and nine (9) agency funds. The expendable trust funds include monies which benefit law enforcement, animal control, public library and impact fees held in an escrow account. The agency funds primarily hold money for other governments like the Constitutional Officers and the deferred compensation accounts of individual employees. xii Debt Administration. During this fiscal year, the County issued the following bonds: $64,545,000 Collier County Water and Sewer District, Revenue Bonds, Series 1994 were issued in February to advance refund the$24,240,000 1985 County Water and Sewer District Water Revenue Refunding Bonds and the $11,600,000 1986 Collier County Capital Improvement Program Revenue Bond Sub-Series One. The$55,225,000 Collier County Water and Sewer District Revenue Bonds Series 1991 were partially refunded by this issue as well. This refunding reduced the County's total debt service requirements by $8,432,083. $30,415,000 Collier County Capital Improvement Revenue Refunding Bonds,Series 1994 were issued in September to advance refund the$31,375,000 1986 Capital Improvement Revenue Refunding Bonds. This refunding reduced total debt service requirements by $2,735,651. In addition, the County borrowed $650,000 from the Florida Local Government Finance Commission Pooled Commercial Paper Program to help fund construction of a new library in the Golden Gate Estates area. -- Collier County met all of its debt covenants and requirements for fiscal year 1994. Risk Management. The County's assets and the health care needs of its employees are protected through the risk management program developed and managed by the Risk Management Department. Under this program, a self-insurance fund is maintained by charging premiums to all county departments based on certain formulas which are updated each fiscal year. The Risk Management Department, through its coordinated and continuous efforts in monitoring potential risk exposures and implementing sound health and safety control programs, coupled with effective claims administration, is striving to meet the goal of minimizing injury claims which result in economic repercussions to the County. OTHER INFORMATION Independent Audit. Section 11.45, Florida Statutes, requires an independent certified public accountant's financial audit of each county. This requirement has been met for the fiscal year ended September 30, 1994, and the opinion of the independent accountants has been included in this report. In addition to the requirements set forth in state statutes, the audit was also designed to meet the requirements of the federal Single Audit Act of 1984 and related OMB Circular A-128. The independent accountant's report on the general purpose financial statements, combining and individual fund statements and schedules is included in the financial section of this report. The independent accountant's reports specifically related to single audit are included in the Single Audit Section. Awards. "The Government Finance Officers Association of the United States and Canada" (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to Collier County, Florida,for its September 30, 1993 comprehensive annual financial report. The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of State and Local government finance reports. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such CAFR must satisfy both generally accepted accounting principles and applicable legal requirements. xiii A Certificate of Achievement is valid for a period of one year only. Collier County, Florida, has received a "9 Certificate of Achievement for the last 8 consecutive years. We believe our current report continues to conform to the Certificate of Achievement program requirements and we are submitting it to the GFOA. Collier County also received the GFOA's Distinguished Budget Presentation Award for its annual budget for the year beginning October 1, 1993. This was the seventh consecutive year that Collier County received this award. In order to receive the Distinguished Budget Presentation Award,the government's budget document must meet program criteria as a policy document, as an operations guide,and as a communications device. Acknowledgments. This report is a product of the dedication of the Finance Department of the Clerk of the Circuit Court of Collier County,as auditor and comptroller to the Board of County Commissioners. We would like to thank the individuals who worked so hard and long on the project: Jo-Anne Learner, CPA; Teri O'Connell; Sherry L. Pryor, CPA;Robert W. Byrne, CMA;Terry Lissack; Susan Usher, CPA;Trish Ficke, CPA; Shirley Van Vliet, Christine C. Landry and Robin Bialkoski. We would like to express our appreciation and thank the firm of Coopers and Lybrand L.L.P., CPAs,for their comments and advice. Our gratitude is also extended to the County Administrator, his staff, and the Constitutional Officers and their staff. Without their assistance and the help of.the Board of County Commissioners,this report could not have been presented on a timely basis for the citizens of Collier County. Sincerely, CI...7p_ + "1 Dwight . Brock /12 Kathryn Hankins, C.G.F.O. Clerk of the Circuit Court Deputy Clerk and Chief Financial Officer Director of Finance • xiv The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence In Financial Reporting to the County of Collier, Florida for its Comprehensive Annual Financial Report for the fiscal year ended September 30, 1993. In order to be awarded a Certificate of Achievement,a government unit must publish an easiy readable and efficiently organized Comprehensive Annual Financial Report, whose contents conform to program standards. Such reports must satisfy bath generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. Collier County has received a Certificate of Achievement for the last 8 consecutive years. We believe our current report continues to conform to Certificate of Achievement Program requirements, and we are submitting it to GFOA. Certificate of Achievement for Excellence in Financial Reporting Presented to Collier County, Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 1993 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. � F9 h OCTANES 4.y W ANO N CANADA TION s President p9SEAA. �oti coast non f)07 01.41rWee Executive Director _ Coopers Coopers& Lybrand L.L.P. &Ly rand a professional services firm Report of Independent Accountants To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida, as of and for the year ended September 30, 1994, as listed in the Table of Contents. These general purpose financial statements are the responsibility of the County's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. — We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are — free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall general purpose financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the general purpose financial statements referred to above present fairly, in all material respects, the financial position of Collier County, Florida, as of September 30, 1994, and the results of its operations and cash flows of its proprietary fund types for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the general purpose financial statements of Collier — County, Florida, taken as a whole. The combining and individual statements and schedules listed in the Table of Contents are presented for purposes of additional analysis and are not a required part of the general purpose financial statements of Collier County, Florida. Such information has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly presented in all — material respects in relation to the general purpose financial statements taken as a whole. The information presented in the supplemental schedules and statistical section listed in the Table of Contents is presented for purposes of additional analysis and is not a required part of the general purpose financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the general purpose financial statements; and, accordingly, we express no opinion on it. As discussed in Note 1(m), the County adopted Governmental Accounting Standards Board (GASB) Statement — No. 23, "Accounting and Financial Reporting for Refundings of Debt Reported by Proprietary Activities," during the current fiscal year. As discussed in Note 1(o), the County adopted GASB Statement No. 18, "Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care Costs," as of October 1, 1993. 42144- k" ogy64146%e 1.) COOPERS & LYBRAND L.L.P. Fort Myers, Florida February 23, 1995 1 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. � III GENERAL FUND THE PRIMARY PURPOSE OF THE GENERAL FUND IS TO ACCOUNT FOR ALL OF THE COUNTY'S OPERATING REVENUE AND OTHER FINANCIAL RESOURCES AND THEIR USES IN CONDUCTING THE GENERAL OPERATIONS OF THE COUNTY, EXCEPT FOR THOSE RESOURCES REQUIRED TO BE ACCOUNTED FOR IN ANOTHER FUND. THE GENERAL FUND HAS A GREATER NUMBER AND VARIETY OF REVENUE SOURCES THAN ANY OTHER FUND, AND ITS RESOURCES FINANCE A WIDER RANGE OF ACTIVITIES. THE RESOURCES OF THE GENERAL FUND ARE NORMALLY EXPENDED AND REPLENISHED ON AN ANNUAL BASIS. SPECIAL REVENUE FUNDS THE PRIMARY PURPOSE OF THE SPECIAL REVENUE FUNDS IS TO ACCOUNT FOR THE PROCEEDS OF SPECIFIC REVENUE SOURCES THAT ARE RESTRICTED BY LAW OR ADMINISTRATIVE ACTION FOR SPECIFIC PURPOSES. DEBT SERVICE FUNDS THE PURPOSE OF THE DEBT SERVICE FUNDS IS TO ACCOUNT FOR THE PAYMENT OF PRINCIPAL, INTEREST AND EXPENDITURES ON LONG-TERM DEBT, OTHER THAN DEBT PAYABLE FROM THE OPERATIONS OF PROPRIETARY FUNDS. CAPITAL PROJECTS FUNDS THE PURPOSE OF THE CAPITAL PROJECTS FUNDS IS TO ACCOUNT FOR THE FINANCIAL RESOURCES SEGREGATED FOR THE ACQUISITION OR CONSTRUCTION OF MAJOR CAPITAL FACILITIES OTHER THAN THOSE FINANCED BY ENTERPRISE OPERATIONS. ENTERPRISE FUNDS THE PURPOSE OF THE ENTERPRISE FUNDS IS TO ACCOUNT FOR OPERATIONS THAT ARE FINANCED AND OPERATED IN A MANNER SIMILAR TO PRIVATE BUSINESS ENTERPRISES--WHERE THE INTENT IS THAT THE COSTS (EXPENSES, INCLUDING DEPRECIATION) OF PROVIDING GOODS OR SERVICES TO THE GENERAL PUBLIC ON A CONTINUING BASIS BE FINANCED PRIMARILY THROUGH USER CHARGES, OR WHERE PERIODIC DETERMINATION OF REVENUES EARNED, EXPENSES INCURRED, AND/OR NET INCOME IS APPROPRIATE FOR CAPITAL MAINTENANCE, PUBLIC POLICY, MANAGEMENT CONTROL, ACCOUNTABILITY OR OTHER PURPOSES. INTERNAL SERVICE FUNDS THE PRIMARY PURPOSE OF THE INTERNAL SERVICE FUNDS IS TO ACCOUNT FOR THE FINANCING OF GOODS OR SERVICES PROVIDED BY ONE DEPARTMENT OR AGENCY TO OTHER DEPARTMENTS OR AGENCIES OF THE GOVERNMENTAL UNIT, OR TO OTHER GOVERNMENTAL UNITS, ON A COST- REIMBURSEMENT BASIS. TRUST AND AGENCY FUNDS THE PURPOSE OF THE TRUST AND AGENCY FUNDS IS TO ACCOUNT FOR THE ASSETS HELD BY A GOVERNMENTAL UNIT AS TRUSTEE OR AGENT FOR INDIVIDUALS, PRIVATE ORGANIZATIONS AND OTHER GOVERNMENTAL UNITS. GENERAL FIXED ASSETS THE PURPOSE OF GENERAL FIXED ASSETS IS TO ACCOUNT FOR THOSE ASSETS USED IN PERFORMANCE OF GENERAL GOVERNMENTAL FUNCTIONS AND EXCLUDES THE FIXED ASSETS OF PROPRIETARY FUNDS. GENERAL LONG-TERM DEBT THE PRIMARY PURPOSE OF GENERAL LONG-TERM DEBT IS TO ACCOUNT FOR THE COUNTY'S LIABILITY FOR GENERAL OBLIGATION BONDS AND OTHER GENERAL LONG-TERM OBLIGATIONS, WHICH ARE NOT OBLIGATIONS OF THE PROPRIETARY FUNDS. COLLIER COUNTY,FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS SEPTEMBER 30,1994 Governmental Fund Types Special Debt Capital General Revenue Service Projects ASSETS AND OTHER DEBITS Cash and investments $ 22,959,203$ 26,321,238 $ 5,778,367$ 50,231,406 Cash and investments with fiscal agent — — 1,933,275 — Investments with trustee — — — — Receivables: Special assessments — — 112,173 123,175 Interest 76,580 186,332 58,521 367,802 Trade 32,299 — — — — Unbilled — — — — Notes — 271,100 — — Other — 344,704 45,094 34,203 Due from other funds 1,708,831 746,555 14,621 63,321 .. Due from other governments 705,294 1,593,348 413,694 1,493,008 Advances and deposits 3,500 — — — Inventory 53,776 — — — Prepaid costs — 1,500 — 2,642 Restricted assets: Cash and investments — — — — Cash and investments with fiscal agent — — — — Special assessments receivable: Current — — — — Deferred — — — — Accrued interest — — — — Notes receivable — — — — Due from other governments — — — — Property,plant and equipment(net where applicable,of accumulated depreciation) — — — — Other assets — — — — Amounts available in debt -- service funds — — — — Amounts to be provided for retirement of general long—term debt — — — — TOTAL ASSETS AND OTHER DEBITS $ 25,539,483 $ 29,464,777 $ 8,355,745$ 52,315,557 The notes to the general purpose financial statements are an integral part of this statement. Bala Ammt Fiduciary Proprietary Fund Types Fund Types Account Groups Total General Internal Trust General Long—Term Memorandum Enterprise Service and Agency Fixed Assets Debt Only $ 28,153,340 $ 8,944,626$ 13,617,225 $ —$ — $ 156,005,405 — — — — — 1,933,275 ... — — 5,727,970 — — 5,727,970 — — — — — 235,348 670,817 48,826 57,636 — — 1,466,514 "' 3,845,418 — — — — 3,877,717 1,202,888 — — — — 1,202,888 — — — — — 271,100 — — 19,646 — — 443,647 — 210,276 5,304 63,571 — — 2,812,479 228,589 14,751 2,210 — — 4,450,894 — 870 — — — 4,370 538,682 160,155 1,467,360 — — 2,219,973 18,884 37,723 — — — 60,749 48,300,153 — — — — 48,300,153 2,632,946 — — — — 2,632,946 — 986,931 — — — — 986,931 16,859,615 — — — — 16,859,615 1,180,544 — — — — 1,180,544 3,154,942 — — — — 3,154,942 — 25,856 — — — — 25,856 295,011,793 2,071,013 — 180,086,430 — 477,169,236 9,387,822 — — — — 9,387,822 — — — — 6,041,384 6,041,384 — — — — 74,008,921 74,008,921 — $ 412,409,496 $ 11,283,268$ 20,955,618 $ 180,086,430$ 80,050,305 $ 820,460,679 (CONTINUED) 2 — COLLIER COUNTY,FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS-CONTINUED SEPTEMBER 30,1994 Governmental Fund Types Special Debt Capital General Revenue Service Projects LIABILITIES,EQUITY AND OTHER CREDITS Liabilities: Vouchers payable and accruals $ 5,527,116 $ 1,434,236 $ 266,035$ 1,502,861 Due to other funds 1,043,814 110,537 28,000 468,375 Bonds and deposits - - - - Due to other governments 426,055 81,191 - 25,000 Due to individuals - 5,115,990 - - Self-insurance claims payable - - - - — Current maturities of lease obligations - - - - Current maturities of notes payable - - - - Matured bonds payable - - 1,600,469 - Matured interest payable - - 419,857 - ._ Accrued interest payable - - - - Deferred revenues 25,225 1,464,117 - 20,239,733 Refundable deposits 129,256 - - - Retired employee deposits - - - - a Retainage payable 6,817 32,351 - 991,023 Escrowed impact fees - - - - Due to holders of special assessment bonds - - - - Payable from restricted assets: Vouchers payable - - - - Current maturities of notes payable - - - - Current maturities of revenue bonds - - - - Due to other governments - - - - Accrued interest payable - - - - Customer deposits - - - - Retainage payable - - - - Matured bonds payable - - - - Matured interest payable - - - - Landfill closure costs - - - - General obligation bonds payable - - - - Revenue bonds payable(net) - - - - Commercial paper loan payable - - - - Notes payable - - - - Capitalized lease obligations - - - - Accrued compensated absences - - - - TOTAL LIABILITIES $ 7,158,283 $ 8,238,422 $ 2,314,361 $ 23,226,992 The notes to the general purpose financial statements are an integral part of this statement. ... Fiduciary Proprietary Fund Types Fund Types Account Groups Total General Internal Trust General Long-Term Memorandum Enterprise Service and Agency Fixed Assets Debt Only -_ $ 993,328$ 376,149$ 9,486 $ -$ - $ 10,109,211 259,147 - 902,606 - - 2,812,479 - - 37,584 - - 37,584 - - 2,442,025 - - 2,974,271 - - 6,116,422 - - 11,232,412 - 5,583,943 - - - 5,583,943 72,237 155,923 - - - 228,160 863,026 - - - - 863,026 - - - - - 1,600,469 - - - - - 419,857 3,713 - - - - 3,713 - - 1,379,495 - - 23,108,570 - - 3,529,739 - - 3,658,995 - - 8,283 - - - 8,283 - - - - - 1,030,191 - - 777,708 - - 777,708 - - 4,035,302 - - 4,035,302 227,617 - - - - 227,617 535,037 - - - - 535,037 4,055,738 - - - - 4,055,738 ,.., 130,701 - - - - 130,701 2,185,564 - - - - 2,185,564 2,716,401 - - - - 2,716,401 2,918,436 - - - - 2,918,436 _ 5,100 - - - - 5,100 18,772 - - - - 18,772 2,214,653 - - - - 2,214,653 - - - - 9,102,000 9,102,000 105,278,474 - - - 51,015,000 156,293,474 - - - - - 12,800,000 12,800,000 12,946,931 - - - 366,971 13,313,902 - 123,168 - - 910,429 1,033,597 570,742 52,157 - - 5,855,905 6,478,804 $ 135,995,617 $ 6,299,623 $ 19,230,367 $ -$ 80,050,305 $ 282,513,970 (CONTINUED) - 3 COLLIER COUNTY,FLORIDA COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS—CONTINUED SEPTEMBER 30,1994 Governmental Fund Types Special Debt Capital General Revenue Service Projects .-. LIABILITIES,EQUITY AND OTHER CREDITS(CONTINUED) Equity and Other Credits: Contributed capital $ — $ — $ —$ — Investment in general fixed assets — — — — Retained earnings: Reserved for: Revenue bond retirement — — — — Renewal and replacement — — — — -- Landfill closure — — — — Unreserved — — — — Fund balances: Reserved for: — Encumbrances 437,393 2,105,728 — 9,116,587 Inventory 53,776 — — — Prepaid costs — 1,500 — 2,642 Impact fees — 1,428,532 — — Debt service — — 5,967,810 — Trust fund purposes — — — — Unreserved: Designated for: Debt service — — 73,574 — Future capital projects — — — 19,969,336 Undesignated 17,890,031 17,690,595 — — TOTAL EQUITY AND OTHER CREDITS 18,381,200 21,226,355 6,041,384 29,088,565 -� TOTAL LIABILITIES,EQUITY AND OTHER CREDITS $ 25,539,483 $ 29,464,777 $ 8,355,745$ 52,315,557 MIMI 111•1•. III • The notes to the general purpose financial statements are an integral part of this statement. Fiduciary Proprietary Fund Types Fund Types Account Groups Total General Internal Trust General Long-Term Memorandum Enterprise Service and Agency Fixed Assets Debt Only $ 200,306,029 $ 1,000,527$ - $ -$ - $ 201,306,556 -- - - - 180,086,430 - 180,086,430 9,719,411 - - - - 9,719,411 I — 379,464 - - - - 379,464 1,463,623 - - - - 1,463,623 64,545,352 3,983,118 - - - 68,528,470 — - - 74,638 - - 11,734,346 - - - - - 53,776 - - - - - 4,142 - - - - - 1,428,532 — - - - - - 5,967,810 - - 1,650,613 - - 1,650,613 — - - - - - 73,574 - - - - - 19,969,336 - - - - - 35,580,626 — 276,413,879 4,983,645 1,725,251 180,086,430 - 537,946,709 $ 412,409,496 $ 11,283,268$ 20,955,618 $ 180,086,430$ 80,050,305 $ 820,460,679 4 COLLIER COUNTY,FLORIDA --, COMBINED STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Governmental Fund Types Special Debt General Revenue Service Revenues: Taxes $ 54,547,816 $ 22,063,342 $ 2,217,206 Licenses and permits 89,689 6,250,231 — Intergovernmental 16,067,113 4,158,663 4,347,242 Charges for services 9,270,593 1,651,326 — —. Fines and forfeitures 2,834,202 69,151 — Interest income 1,321,898 1,358,278 411,232 Impact fees — — — Special assessments — 1,118,186 141,278 Miscellaneous 3,100,394 160,356 — Total revenues 87,231,705 36,829,533 7,116,958 Expenditures: Current: General government 27,439,722 2,442,703 — Public safety 41,144,565 6,964,139 — ... Physical environment 1,707,871 5,112,897 — Transportation — 7,582,423 — Economic environment 159,311 258,177 — Human services 4,666,926 896,037 — Culture and recreation 6,333,259 1,577,819 — Capital outlay — — — Debt service — 2,934 10,804,210 Total expenditures 81,451,654 24,837,129 10,804,210 '—" Excess of revenues over (under)expenditures 5,780,051 11,992,404 (3,687,252) .-- Other financing sources(uses): Smelt Proceeds from loans — — 650,000 Proceeds from refunding bonds — — 30,215,735 Payment to refunded bond escrow agent — — (29,815,513) Operating transfers in 10,970,861 1,765,982 2,342,790 Operating transfers out (14,633,576) (9,454,730) (710,727) Total other financing sources(uses) (3,662,715) (7,688,748) 2,682,285 MO Excess of revenues and other sources over(under)expen— ditures and other uses 2,117,336 4,303,656 (1,004,967) Fund balances at beginning of year 15,967,962 16,252,429 7,042,153 Residual equity transfer in 377,857 682,191 4,198 Residual equity transfer out (81,955) (11,921) — "' Fund balances at end of year $ 18,381,200 $ 21,226,355 $ 6,041,384 The notes to the general purpose financial statements are an integral part of this statement. Fiduciary Fund Types Total Capital Expendable Memorandum Projects Trust Only $ 2,532,046 $ -$ 81,360,410 1,000 10,081 6,351,001 2,560,875 - 27,133,893 138,924 415,243 11,476,086 593,173 3,496,526 2,260,253 131,163 5,482,824 6,915,761 - 6,915,761 54,539 - 1,314,003 956,341 16,723 4,233,814 15,419,739 1,166,383 147,764,318 136,277 30,018,702 623,096 48,731,800 - 6,820,768 - 579,232 8,161,655 - - 417,488 40,522 5,603,485 488 7,911,566 20,227,678 - 20,227,678 10,807,144 20,227,678 1,379,615 138,700,286 (4,807,939) (213,232) 9,064,032 - - 650,000 30,215,735 (29,815,513) 13,456,714 - 28,536,347 (5,067,786) (341,841) (30,208,660) 8,388,928 (341,841) (622,091) 3,580,989 (555,073) 8,441,941 25,551,167 2,280,324 67,094,035 1,064,246 (43,591) - (137,467) $ 29,088,565 $ 1,725,251 $ 76,462,755 5 COLLIER COUNTY,FLORIDA COMBINED STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Governmental Fund Types General Fund- (Non-GAAP) Special Revenue Funds Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ 56,598,700$ 54,547,816$ (2,050,884)$ 20,476,700$ 22,063,342 $ 1,586,642 Licenses and permits 90,700 89,689 (1,011) 5,687,580 6,250,231 562,651 Intergovernmental 13,314,984 16,067,113 2,752,129 5,237,271 4,158,663 (1,078,608) Charges for services 9,595,026 9,270,593 (324,433) 1,335,050 1,651,326 316,276 Fines and forfeitures 3,399,000 2,834,202 (564,798) 88,000 69,151 (18,849) Interest income 562,000 1,321,898 759,898 603,700 1,358,278 754,578 - Impact fees - - - - - - Special assessments - - - 1,162,800 1,118,186 (44,614) Miscellaneous 2,989,738 3,100,394 110,656 112,316 160,356 48,040 Total revenues 86,550,148 87,231,705 681,557 34,703,417 36,829,533 2,126,116 Expenditures: ,,., Current: General government 30,048,371 27,439,722 2,608,649 3,857,194 2,442,703 1,414,491 Public safety 43,132,683 41,144,565 1,988,118 7,787,573 6,964,139 823,434 Physical environment 1,913,386 1,707,871 205,515 9,088,606 5,112,897 3,975,709 Transportation - - - 8,935,886 7,582,423 1,353,463 "" Economic environment 171,500 159,311 12,189 287,276 258,177 29,099 Human services 4,783,200 4,666226 116,274 1,502,575 896,037 606,538 Culture and recreation 6,737,412 6,333259 404,153 2,171,216 1,577,819 593,397 Capital outlay - - - - - - Debt service - - - 5,800 2,934 2,866 Total expenditures 86,786,552 81,451,654 5,334,898 33,636,126 24,837,129 8,798,997 010.4Excess of revenues over (under)expenditures (236,404) 5,780,051 6,016,455 1,067,291 11,992,404 10,925,113 Other financing sources(uses): Proceeds from loans - - - - - - Proceeds from refunding bonds - - - - - - -, Payment to refunded bond escrow agent - - - - - - Operating transfers in 10,580,880 10,970,861 389,981 1,328,421 1,765,982 437,561 Operating transfers out (14,792,349) (14,633,576) 158,773 (9,533,351) (9,454,730) 78,621 Total other financing sources(uses) (4,211,469) (3,662,715) 548,754 (8,204,930) (7,688,748) 516,182 Excess of revenues and other 1 .41 sources over(under)expen- ditures and other uses (4,447,873) 2,117,336 6,565,209 (7,137,639) 4,303,656 11,441,295 Fund balances at beginning of year 15,967,962 15,967,962 - 16,244,706 16,244,706 - Residual equity transfers in - 377,857 377,857 - 682,191 682,191 Residual equity transfers out - (81,955) (81,955) - (4,198) (4,198) Fund balances at end of year $ 11.520.089 $ 18.381,200$ 6,861.111 $ 9.107.067$ 21.226,355 $ 12.119,288 Ilimal The notes to the general purpose financial statements are an integral part of this statement. Governmental Fund Types Debt Service Funds Capital Projects Funds- (Non-GAAP) Variance Variance Favorable Favorable — Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 2,273,800 $ 2,217,206 $ (56,594)$ 2,200,000$ 2,532,046 $ 332,046 _' - - - 10,000 1,000 (9,000) 4,401,800 4,347,242 (54,558) 2,821,821 2,560,875 (260,946) - - - 101,000 138,924 37,924 — 177,800 411,232 233,432 758,600 2,260,253 1,501,653 - - - 6,217,002 9,501,809 3,284,807 228,500 141,278 (87,222) 24,000 54,539 30,539 - - - 1,084,744 956,341 (128,403) — 7,081,900 7,116,958 35,058 13,217,167 18,005,787 4,788,620 —, - - - 53,011,077 20,227,678 32,783,399 10,827,258 10,804,210 23,048 - - - 10,827,258 10,804,210 23,048 53,011,077 20,227,678 32,783,399 (3,745,358) (3,687,252) 58,106 (39,793,910) (2,221,891) 37,572,019 650,000 650,000 - 1,100,000 - (1,100,000) — 30,215,736 30,215,735 (1) - - - (29,815,514) (29,815,513) 1 - - - 2,326,700 2,342,790 16,090 13,433,446 13,456,714 23,268 (713,964) (710,727) 3,237 (5,068,387) (5,067,786) 601 — 2,662,958 2,682,285 19,327 9,465,059 8,388,928 (1,076,131) (1,082,400) (1,004,967) 77,433 (30,328,851) 6,167,037 36,495,888 7,042,153 7,042,153 - 25,551,167 25,551,167 - — - 4,198 4,198 - - - _ - - - (43,591) (43,591) $ 5,959.753 $ 6.041.384 $ 81,631 $ (4,777,684)$ 31,674,613 $ 36,452.297 — (CONTINUED) — 6 COLLIER COUNTY,FLORIDA COMBINED STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON-GMP BUDGETARY BASIS)AND ACTUAL ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS-CONTINUED - FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Fiduciary Fund Type Total __.. Memorandum Expendable Trust Funds-(Non-GAAP) Only Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ - $ -$ - $ 81,549,200$ 81,360,410 $ (188,790) Licenses and permits 13,000 10,081 (2,919) 5,801,280 6,351,001 549,721 Intergovernmental - - - 25,775,876 27,133,893 1,358,017 Charges for services 19,000 22,117 3,117 11,050,076 11,082,960 32,884 Fines and forfeitures 351,269 593,173 241,904 3,838,269 3,496,526 (341,743) Interest income 50,800 71,168 20,368 2,152,900 5,422,829 3,269,929 O.01 Impact fees - - - 6,217,002 9,501,809 3,284,807 Special assessments - - - 1,415,300 1,314,003 (101,297) Miscellaneous 221,579 16,153 (205,426) 4,408,377 4,233,244 (175,133) Total revenues 655,648 712,692 57,044 142,208,280 149,896,675 7,688,395 Expenditures: ...... Current: General government 54,675 54,675 - 33,960,240 29,937,100 4,023,140 Public safety 457,389 365,346 92,043 51,377,645 48,474,050 2,903,595 Physical environment - - - 11,001,992 6,820,768 4,181,224 Transportation 787,900 579,232 208,668 9,723,786 8,161,655 1,562,131 Economic environment - - - 458,776 417,488 41,288 Human services 129,100 40,522 88,578 6,414,875 5,603,485 811,390 Culture and recreation 101,279 488 100,791 9,009,907 7,911,566 1,098,341 Capital outlay - - - 53,011,077 20,227,678 32,783,399 Debt service - - - 10,833,058 10,807,144 25,914 Total expenditures 1,530,343 1,040,263 490,080 185,791,356 138,360,934 47,430,422 Excess of revenues over (under)expenditures (874,695) (327,571) 547,124 (43,583,076) 11,535,741 55,118,817 Other financing sources(uses): Proceeds from loans - - - 1,750,000 650,000 (1,100,000) Proceeds from refunding bonds - - - 30,215,736 30,215,735 (1) Payment to refunded bond escrow agent - - - (29,815,514) (29,815,513) 1 Operating transfers in - - - 27,669,447 28,536,347 866,900 Operating transfers out (341,841) (341,841) - (30,449,892) (30,208,660) 241,232 Total other financing sources(uses) (341,841) (341,841) - (630,223) (622,091) 8,132 Excess of revenues and other �" sources over(under)expen- ditures and other uses (1,216,536) (669,412) 547,124 (44,213,299) 10,913,650 55,126,949 Fund balances at beginning of year 1,918,605 1,918,605 - 66,724,593 66,724,593 - WWI Residual equity transfers in - - - - 1,064,246 1,064,246 Residual equity transfers out - - - - (129,744) (129,744) Fund balances at end of year $ 702.069 $ 1.249,193$ 547,124 $ 22.511.294 $ 78.572,745$ 56.061.451 MR NMI The notes to the general purpose financial statements are an integral part of this statement. 7 COLLIER COUNTY,FLORIDA COMBINED STATEMENT OF REVENUES,EXPENSES AND CHANGES IN RETAINED EARNINGS—ALL PROPRIETARY FUND TYPES FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Proprietary pr Y Fund Types Total — Internal Memorandum Enterprise Service Only Operating revenues: Charges for services $ 46,326,085$ 15,330,788$ 61,656,873 Total operating revenues 46,326,085 15,330,788 61,656,873 Operating expenses: Personal services 11,565,877 915,605 12,481,482 — Operating 18,092,527 11,941,419 30,033,946 Depreciation 7,867,855 427,964 8,295,819 Amortization 863,897 — 863,897 —' Total operating expenses 38,390,156 13,284,988 51,675,144 Operating income 7,935,929 2,045,800 9,981,729 Non—operating revenues(expenses): Interest income 5,614,857 376,473 5,991,330 Interest expense (5,155,841) (21,385) (5,177,226) —. Miscellaneous income 138 — 138 Gain(loss)on disposal of fixed assets (8,099) 5,605 (2,494) Entitlements and grants 421,935 — 421,935 — Total non—operating revenues(expenses) 872,990 360,693 1,233,683 Income before operating transfers 8,808,919 2,406,493 11,215,412 Operating transfers: Operating transfers in 2,017,051 42,200 2,059,251 Operating transfers out (386,938) — (386,938) Total operating transfers 1,630,113 42,200 1,672,313 Net Income 10,439,032 2,448,693 12,887,725 — Depreciation of contributed assets 4,623,024 216,970 4,839,994 Increase in retained earnings 15,062,056 2,665,663 17,727,719 Retained earnings—Oct 1 as previously reported 60,359,879 2,134,337 62,494,216 Cumulative effect of change in accounting principle(Note 21) 1,885,915 — 1,885,915 — Retained earnings—Oct 1 restated 62,245,794 2,134,337 64,380,131 Residual equity transfer out (1,200,000) (816,882) (2,016,882) — Retained earnings at end of year $ 76,107,850$ 3,983,118$ 80,090,968 The notes to the general purpose financial statements are an integral part of this statement. 8 COLLIER COUNTY,FLORIDA COMBINED STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES -, FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 —.Proprietary Fund Types Total Internal Memorandum Enterprise Service Only Cash flows from operating activities: Cash received for services $ 45,695,300 $ 15,467,540 $ 61,162,840 Cash operating grants received from other governments 455,275 — 455,275 Cash received from customer deposits 357,293 — 357,293 Cash received for other governments 1,568,222 — 1,568,222 Cash payments for goods and services (16,280,957) (11,804,060) (28,085,017) Cash payments to employees (11,652,263) (900,871) (12,553,134) ,^ Cash payments to other governments (1,558,686) — (1,558,686) Net cash provided by operating activities 18,584,184 2,762,609 21,346,793 Cash flows from noncapital financing activities: Cash transfers from other funds 2,089,342 42,200 2,131,542 Cash transfers to other funds (1,641,424) (384,128) (2,025,552) Net cash provided by(used for)non— capital financing activities 447,918 (341,928) 105,990 Cash flows from capital and related financing activities: Cash contributions received 11,484,706 — 11,484,706 Receipts from capital grants 993,485 — 993,485 Proceeds from disposal of fixed assets 83,626 16,775 100,401 Proceeds from loans 1,169,105 — 1,169,105 Proceeds from bonds 63,303,550 — 63,303,550 Payments for capital acquisitions (16,089,386) (834,569) (16,923,955) Payments to escrow agent on defeased bonds (63,498,402) — (63,498,402) Principal and interest payments on matured bonds (230,691) — (230,691) Principal payments on bonds (3,449,167) — (3,449,167) — Principal payments on notes (598,356) — (598,356) Principal payments on capital leases — (146,938) (146,938) Interest and fiscal agent fees paid (7,461,638) (21,385) (7,483,023) Net cash used for capital and related financing activities (14,293,168) (986,117) (15,279,285) Cash flows from investing activities: Interest and dividends on investments 5,577,392 349,166 5,926,558 ^ Net cash provided by investing activities 5,577,392 349,166 5,926,558 Net increase in cash 10,316,326 1,783,730 12,100,056 Cash,October 1,1993(including $54,060,736 in restricted cash) 68,770,113 7,160,896 75,931,009 Cash,September 30,1994(including $50,933,099 in restricted cash) $ 79,086,439 $ 8,944,626 $ 88,031,065 (CONTINUED) The notes to the general purpose financial statements are an integral part of this statement. 9 COLLIER COUNTY,FLORIDA COMBINED STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Proprietary Fund Types Total Internal Memorandum — Enterprise Service Only Operating income $ 7,935,929 $ 2,045,800 $ 9,981,729 Adjustment to reconcile operating income to net cash provided by operating activities: Depreciation expense 7,867,855 427,964 8,295,819 — Amortization of capital improvement projects 753,969 - 753,969 Amortization of bond issuance costs 109,928 - 109,928 Decrease in accounts receivable 296,019 206,049 502,068 (Increase)decrease in due from other funds (24,605) 16,950 (7,655) — Decrease in due from other governments 21,506 161 21,667 (Increase)in advances and deposits - (210) (210) (Increase)decrease in prepaid costs (5,000) 28,436 23,436 (Increase)in inventory (83,791) (12,903) (96,694) -_ Increase in vouchers payable 158,927 25,024 183,951 Increase in due to other funds 15,746 - 15,746 (Decrease)in accrued wages (143,896) (8,832) (152,728) Increase in compensated absences 57,511 8,677 66,188 -_ (Decrease)in due to other governments (26,564) - (26,564) Increase in customer deposits payable 357,693 - 357,693 (Decrease)in retired employee deposits - (7,938) (7,938) Increase in landfill closure liability 871,022 - 871,022 Increase in self-insurance claims payable - 33,431 33,431 Net cash flow related to operating grants 421,935 - 421,935 Total adjustments 10,648,255 716,809 11,365,064 Net cash provided by operating activities $ 18,584,184 $ 2,762,609 $ 21,346,793 (CONTINUED) — The notes to the general purpose financial statements are an integral part of this statement. _ 10 COLLIER COUNTY, FLORIDA COMBINED STATEMENT OF CASH FLOWS ALL PROPRIETARY FUND TYPES - CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 Schedule of Non-cash Investing, Capital, and Financing Activities There were non-cash developer contributions of$7,411,431 in the County Water and Sewer District Fund. In addition, the County Water and Sewer District Fund incurred non-cash losses on the disposal of fixed assets junked or written off with a depreciated value of $28,365. The original cost of these assets was $109,347 with $80,982 in accumulated depreciation. The County Water and Sewer District Fund is amortizing a deferred charge related to the defeasance of bonds in the amount of$6,613,275 over a period of 27 years. The current year's amortization of this deferred charge was$207,710. There were non-cash developer contributions of$33,781 in the Goodland Water District Fund. There were also non-cash customer contributions of$85,055 in the Goodland Water District Fund. The Solid Waste Fund received contributions of assets from the General Fixed Assets Account Group with a depreciated value of$72,919. The original cost of these assets was$83,750 with$10,831 in accumulated depreciation. In addition, the Solid Waste Fund incurred non-cash losses on the disposal of fixed assets junked, written off or traded with a depreciated value of $45,976. The original cost of these assets was $114,461 with $68,485 in accumulated depreciation. The Emergency Medical Services Fund received contributions of assets from the General Fixed Assets Account Group with a depreciated value of$16,592. The original cost of these assets was$17,104 with$512 in accumulated depreciation. In addition, the Emergency Medical Services Fund incurred non-cash losses on the disposal of fixed assets junked or written off with a depreciated value of$17,383. The original cost of these assets was $273,499 with $256,116 in accumulated depreciation. The Airport Authority Fund received contributions of assets from the General Fixed Assets Account Group with a depreciated value of$689. The original cost of these assets was$3,015 with $2,326 in accumulated -- depreciation. The Automated Information Systems Fund transferred fixed assets to the General Fixed Assets Account Group with an original cost of $17,146 and accumulated depreciation of $11,040 for a non-cash loss of $6,106. The Self Insurance Fund incurred a non-cash loss on the disposal of assets junked,written off or traded with ^ a depreciated value of $2,080. The original cost of the assets was $3,959 with $1,879 in accumulated depreciation. In addition, the Self Insurance Fund received contributions of assets from the General Fixed Assets Account Group with an original cost of $625. The Fleet Management Fund incurred a non-cash loss on the disposal of junked fixed assets with a depreciated cost of$63,763. The original cost of these assets was $138,824 with $75,061 in accumulated depreciation. The notes to the general purpose financial statements are an integral part of this statement. 11 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 INDEX NOTE PAGE NUMBER 1 Summary of Significant Accounting Policies 12 2 Cash and Investments 22 3 Accounts Receivable 23 4 Interfund Receivables (Due From) and Payables (Due To) 24 5 Restricted Assets 25 6 Reserves for Restricted Assets 25 7 Fixed Assets 26 8 Long-Term Debt 27 9 Revenue Bonds Administered by the State of Florida 34 10 Special Assessment Debt with no Government Commitment 34 11 Defeased Debt 35 12 Budget to Actual 37 13 Segment Information - Enterprise Funds 38 14 Contributed Capital 39 15 Deferred Compensation Plan 40 16 Pension Plan Obligations 40 17 Related Party Transactions 41 18 Operating Transfers 42 19 Fund Equity 43 20 Risk Management 44 21 Recognition of Landfill Closure and Postclosure Cost 45 22 Equity Transfers 46 23 Disclosure of Significant Contingencies 47 24 Disclosure of Significant Commitments 47 25 Subsequent Events 48 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES INTRODUCTION Collier County is a Non-Charter County established in 1923 by the Florida State Legislature. It is governed by a five member elected Board of County Commissioners (the Board)which is regulated by State Statutes, operating under a County Manager form of government with separation of legislative and executive functions. The financial statements of the County have been prepared in conformity with generally accepted accounting principles (GAAP) as applicable to governmental units in accordance with the Governmental Accounting Standards Board (GASB). GASB is the accepted standard setting body for establishing governmental accounting and financial reporting principles. The following is a summary of the significant accounting policies: A-THE REPORTING ENTITY In accordance with GASB Statement 14, 'The Financial Reporting Entity", the general purpose financial statements present the primary government. The primary government consists of the Board of County Commissioners and organizations or agencies for which the primary government is financially responsible. In addition to the members of the Board, there are five elected officials; the Clerk of the Circuit Court; Property Appraiser; Sheriff; Supervisor of Elections and Tax Collector. These County agencies do not meet the definition of a component unit because they are not legally separate or fiscally independent organizations. Accordingly, they are considered part of the County's primary government as defined by GASB Statement 14. The Board budgets and provides all funding used by the separately elected Constitutional Offices with the exception of fees collected by the Clerk of the Circuit Court and the Tax Collector. Under the direction of the Clerk of the Circuit Court, the Finance Department maintains the accounting system for the County's operations, including those of the Supervisor of Elections. The Clerk of the Circuit Court, Property Appraiser, Sheriff and Tax Collector, each maintain their own accounting and budget systems. The operations of the County as a whole, however, including all the Constitutional Officers, have been included in these financial statements. The County reviewed potential component units based on various criteria including, but not limited to, financial accountability, ability to appoint a voting majority, imposition of will, existence of a financial benefit or burden on the primary government and fiscal dependency. No component units are presented as part of the reporting entity. 12 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-CONTINUED B-BASIS OF PRESENTATION The accounts of the County are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. Fund structures,where applicable, have been designed to comply with all requirements of relevant bond resolutions. The operations of each fund are accounted for with a set of separate self-balancing accounts comprised of its assets, liabilities, equities, revenues and expenditures/expenses, as appropriate. The various funds are grouped by type in the financial statements. The following fund types and account groups are used by the County: GOVERNMENTAL FUNDS General Fund -The General Fund is the general operating fund of the County. All general tax revenues and other receipts that are not required either legally or by generally accepted accounting principles to be accounted for in other funds, are accounted for in the General Fund. General operating funds of the Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector represent subfunds of the County's General Fund that are held and accounted for individually, but presented herein with the balance of the Board of County Commissioners' General Fund. Special Revenue Funds-Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than expendable trusts or major capital projects) requiring separate accounting because of — legal or regulatory provisions or administrative action. Debt Service Funds - Debt Service Funds are used to account for the accumulation of resources for, and the payment of principal, interest and other expenditures on long-term debt, other than bonds and notes payable from the operation of Proprietary Funds. Capital Projects Funds -Capital Projects Funds are used to account for financial resources segregated for the acquisition or construction of major capital facilities other than those financed by Enterprise operations. PROPRIETARY FUNDS Enterprise Funds - Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises - where the intent is that the cost (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed primarily through user charges, or where periodic determination of revenues earned, expenses incurred, and/or net income is deemed appropriate for capital maintenance, public policy, management control, accountability or other purposes. Internal Service Funds - Internal Service Funds are used to account for the financing of goods or services provided by one department to other departments of the County or to other governmental units on a cost reimbursement basis. 13 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES -CONTINUED B-BASIS OF PRESENTATION -CONTINUED FIDUCIARY FUNDS Expendable Trust Funds-Expendable Trust Funds are generally used in instances where legally mandated or where a formal legal trustee relationship exists. All of the principal and income may be expended in the course of their designated operations. Agency Funds - Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Agency Funds are clearing accounts for assets held by a government as an agent for individuals, private organizations, other governments or other funds. ACCOUNT GROUPS General Fixed Asset Account Group - This account group is used to account for property, plant and equipment not used in proprietary fund operations. Excluded from the general fixed assets account group are public domain, or infrastructure, fixed assets such as roads, bridges, curbs and gutters, streets and sidewalks, drainage systems, lighting systems and similar assets that are immovable and of value only to the County. General Long-Term Debt Account Group - This account group is established to account for the long-term debt, including capitalized leases and accrued compensated absences,that is backed by the County's credit and revenue raising powers. C - BASIS OF ACCOUNTING AND MEASUREMENT FOCUS Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The modified accrual basis of accounting is followed in the Governmental Fund Types and Fiduciary Fund Types. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Primary revenues - including special assessments, intergovernmental revenues, charges for services, rents and interest - are treated as susceptible to accrual under the modified accrual basis. Property taxes are discussed in Note 1 - Section P. Other revenue sources are not considered measurable and available and are not treated as susceptible to accrual. Expenditures are recorded when the related fund liability is incurred. Exceptions to this general rule include accumulated sick pay and vacation pay, which are recorded in the general long-term debt account group and principal and interest on general long-term debt which is recognized when due. 14 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-CONTINUED C-BASIS OF ACCOUNTING AND MEASUREMENT FOCUS -CONTINUED In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially -- two types of these revenues. In one, monies must be expended on the specific purpose or project before any amount will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt, or earlier if they meet the availability criterion. Proprietary Funds use the accrual basis of accounting. Revenues are recognized in the period in which they _ are earned and expenses are recognized in the period incurred. Unbilled service revenues of the County Water-Sewer District are accrued at the end of the year by prorating actual subsequent billings. The measurement focus applied to governmental fund types and to expendable trust funds is the spending or financial flow measurement focus. Only current assets and current liabilities are generally included on the balance sheet. Fund balance is considered a measure of available, spendable or appropriable resources. The measurement focus applied to a proprietary fund type is the cost of services or capital maintenance -- measurement focus. All assets and all liabilities (current or noncurrent) are included on the balance sheet. Fund equity is segregated into contributed capital and retained earnings. D - BUDGETS AND BUDGETARY DATA The following are the statutory procedures followed by the Board of County Commissioners in establishing the budgets for the County: 1) Within 15 days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget Officer prepares and presents to the Board of County Commissioners a tentative budget for the ensuing fiscal year. The budget includes all estimated receipts, balances to be brought forward, and all estimated expenditures, reserves and balances to be carried forward at the end of the year as specified in Section 129.03, Florida Statutes. 2) Within 80 days of the certification of value, but not earlier than 65 days after certification, the Board of County Commissioners holds a public hearing on the tentative budget and proposed millage rate. At this hearing the Board of County Commissioners amend and adopt the tentative budget, recompute the proposed millage rate, and announce publicly the percentage, if any, by which the recomputed proposed millage rate exceeds the rolled-back rate. If the millage rate tentatively adopted exceeds that proposed, each taxpayer within the jurisdiction is notified of the increase by first class mail, at the expense of the Board of County Commissioners. 15 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES -CONTINUED D -BUDGETS AND BUDGETARY DATA-CONTINUED 3) Within 15 days of the meeting adopting the tentative budget, the Board of County Commissioners advertises the County's intent to adopt a final budget and millage rate. 4) A public hearing is held by the Board of County Commissioners to finalize the budget and adopt a millage rate. This hearing is held not less than two days or more than five days after the day that the advertisement is first published. The adoption of the final budget, prior to September 30, and millage levy are by separate votes,and in no event is the millage rate adopted allowed to exceed the tentatively adopted millage rate. 5) The resolution approved at the final hearing is forwarded to the Property Appraiser, Tax Collector, and Florida Department of Revenue; and not later than thirty days following the adoption of the Resolution,the Board of County Commissioners certifies to the State of Florida,Department of Revenue, Division of Ad Valorem Tax that it has complied with the provisions of Chapter 200, Florida Statutes. 6) During the ensuing fiscal year, the County Manager acts on intradepartmental budget changes that do not alter the total expenditures of the department. All other budgetary changes are acted on by the Board of County Commissioners in open session. The budgetary data presented herein was amended by the Board of County Commissioners during the year in accordance with Florida Statutes. The initial adopted budget of$384,828,200 was amended upward during the fiscal year to $484,617,461. 0.4 7) Section 129.07, Florida Statutes, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. Formal budgetary integration is employed as a management control device during the fiscal year for all fund types. Budgets have been legally adopted by the Board of County Commissioners for all Board funds except for Agency Funds and those funds described in Note 12. The Property Appraiser and the Tax Collector adopt budgets for their General Funds independently of the Board. The Clerk of the Circuit Court (to the extent of his function as ex officio Clerk to the Board and the amounts of his fee structure as Clerk to the Circuit and County Courts), Sheriff, and Supervisor of Elections prepare budgets for their General Funds which are submitted to and approved by the Board of County Commissioners. Budgets are adopted on a basis consistent with generally accepted accounting principles for all Governmental Funds except as described in Note 12. All appropriations lapse at the end of the current year. Capital project costs are budgeted in the year they are anticipated to be obligated. In subsequent years, the unused budget is reappropriated until the project is completed. Proprietary Funds are budgeted on a basis consistent with generally accepted accounting principles, except that capital-related and debt transactions are based upon cash receipts and disbursements. Estimated beginning fund balances are considered in the budgetary process. Differences between estimated beginning fund balances and actual fund balances, if material, are submitted to the Board as budget amendments. 16 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES-CONTINUED E - ENCUMBRANCES Encumbrance accounting,whereby purchase orders, contracts to be executed and other commitments are _ recorded as reservations of budget, is employed as an extension of the statutorily required budget process. It is the County's intention to honor these encumbrances under authority provided in the subsequent year's budget. The appropriate fund balance is carried over as a reserve for these encumbrances. F-CASH AND CASH EQUIVALENTS All funds participate in the pooled cash investment program. Interest earned is allocated based on the individual funds average daily balance in the cash pool. Investments are stated at cost except for deferred compensation mutual funds which are reported at market. Cash equivalents are defined as short-term highly liquid investments with maturities of three months or less from the date purchased. In addition, individual funds' equity in pooled cash is considered to be a cash equivalent. G - INVENTORIES AND PREPAID COSTS Inventory is valued at cost which approximates market, using the first-in, first-out method. Inventory in the governmental funds consists of expendable supplies held for consumption. The cost is recorded as an expenditure at the time individual inventory items are consumed. Reported inventories and prepaid costs are equally offset by a fund balance reserve which indicates that they do not constitute available spendable resources, even though they are a component of net current assets. Inventories and prepaid costs of proprietary funds are reported as an expense when consumed. H -GENERAL FIXED ASSETS General Fixed Assets are recorded as expenditures in the General Fund, Capital Projects Funds and other Governmental Fund types at the time of purchase, and capitalized at cost in the General Fixed Asset Account Group. Fixed assets consisting of certain improvements including roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems have not been capitalized. Gifts or contributions are recorded in General Fixed Assets at fair market value at the time received. There is no depreciation expense recorded on General Fixed Assets. The County capitalizes fixed assets which cost$500 or more and have a useful life in excess of one year. 17 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -CONTINUED I - FIXED ASSETS OF PROPRIETARY FUNDS Land, buildings, improvements and equipment are stated at cost. Contributions of property are recorded at their fair market value on the date donated. In addition to contributed facilities, system development impact fees are collected from developers and customers and used to construct additional facilities which are stated at cost. Excess cost over fair value of assets acquired represents the excess cost of water and sewer systems purchased over their estimated replacement cost at the date of acquisition. The County capitalizes major expenditures for additions and improvements. Major expenditures include items with a cost of$500 or more and with a useful life in excess of one year. Expenditures for maintenance and repairs are charged to operating expenses. Depreciation on fixed assets acquired through contributions is recorded as an expense and transferred from retained earnings as a reduction of contributed equity on the balance sheet. The cost of assets retired or sold,together with the related accumulated depreciation, is removed from the accounts and any gain or loss on disposition is credited or charged to earnings. Depreciation is calculated using the straight-line method. The estimated useful life of the various classes of depreciable fixed assets is as follows: Estimated Fixed Asset Useful Life Equipment 4-10 years Buildings 20-40 years Improvements 2-40 years _ Excess cost over fair value of assets acquired 4-30 years J -CAPITAL LEASE OBLIGATIONS Capital lease obligations and the related assets of governmental fund types are accounted for in the General ^ Long-Term Debt Account Group and in the General Fixed Assets Account Group, respectively. Capital lease obligations of Proprietary Fund Types and the cost of assets so acquired are reflected in the accounts of those funds. The capitalized lease obligations are stated at the original fair market value of leased assets capitalized, less payments since the inception of the lease discounted at the implicit rate of interest in the lease. Also, in the year an asset is acquired by capital lease,the expenditure for the asset and the offsetting amount of the financing source is reflected in the Statement of Revenues, Expenditures and Changes in Fund Balances. 18 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -CONTINUED K- FUND EQUITY Contributed capital is recorded in Proprietary Funds that have received capital grants or contributions from developers, customers or other funds. Reserves represent those portions of fund equity not appropriable for expenditures or those portions legally segregated for a specific future use. Designations of fund balance represent tentative plans for expenditures. L- BOND DISCOUNTS AND BOND ISSUANCE COSTS In Governmental Funds bond discounts and issuance costs are recognized in the current period. Bond discounts and issuance costs for Proprietary Funds are deferred and amortized over the term of the bonds using the interest method and the straight-line method, respectively. Bond discounts are presented as a reduction of the face amount of bonds payable while issuance costs are recorded as deferred charges. M - DEFEASANCE OF DEBT REPORTED BY PROPRIETARY FUNDS Early implementation of GASB Statement 23, "Accounting and Financial Reporting for Refundings of Debt Reported by Proprietary Activities," was applied to the Proprietary Funds. For refundings resulting in the defeasance of debt reported by proprietary activities, this Statement requires that the difference between the reacquisition price and the net carrying amount of the old debt be deferred and amortized as a component of interest expense.The straight line method was elected for amortization of the deferred charge. N -INTEREST COST Interest cost is charged to expense or expenditure as incurred, except for interest capitalized in the Proprietary Funds, in accordance with the provisions of FASB Statement 34,"Capitalization of Interest Cost," and FASB Statement 62, "Capitalization of Interest Cost on Certain Tax-Exempt Borrowing,and Certain Gifts and Grants," when applicable. O-RECOGNITION OF LANDFILL CLOSURE AND POST CLOSURE COSTS In the accounts of the Solid Waste Fund a portion of the estimated total current cost of landfill closure and postclosure cost is accrued in each period that the site accepts solid waste. The amount recognized as an expense and as a deferred closure liability is based on use/capacity rather than the passage of time in accordance with GASB Statement 18, "Accounting for Municipal Solid Waste Landfill Closure and Post Closure Care Costs". 19 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-CONTINUED P - PROPERTY TAXES Property taxes become due and payable on November 1st of each year and become delinquent on April 1st of the following year. Discounts on property taxes are allowed for payments made prior to the April 1st delinquent date as follows: November - 4%, December - 3%, January - 2%, and February - 1%. Tax certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1st of each year. No accrual for the property tax levy becoming due in November 1994 is included in the accompanying financial statements, since such taxes are collected to finance expenditures of the subsequent period. Property taxes receivable and a corresponding allowance for uncollectible property taxes are not included in the financial statements, as there are no delinquent taxes as of September 30, 1994. Key dates in the property tax cycle for the fiscal year ended September 30, 1994 are as follows: Property Tax Cycle Date Assessment roll compiled January 1, 1993 Assessment roll certified July 1, 1993 Millage resolution approved No later than 95 days following certification of assessment roll Beginning of fiscal year for which taxes have been levied October 1, 1993 Taxes due and payable (Levy date) November 1, 1993 Property taxes payable: Maximum discount (4%) 30 days after Levy Date Due date March 31, 1994 Delinquent (Lien Date) April 1, 1994 Tax certificates sold Prior to June 1, 1994 20 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES -CONTINUED Q -ACCRUED COMPENSATED ABSENCES _ During fiscal year 1994, the County adopted the provisions of GASB Statement 16, "Accounting for Compensated Absences". This Standard provides for the measurement of accrued vacation leave and other compensated absences using the pay or salary rates in effect at the balance sheet data. It also requires _ additional amounts to be accrued for certain salary-related payments associated with the payment of compensated absences. In accordance with GASB Statement Number 16, adjustments were made to the compensated absences balance to include employer payroll taxes and retirement contributions. The effect of the adjustment was to increase general long-term debt by$339,751. No adjustment was made to the proprietary funds since the additional liability was not material to the financial statements. It is the County's policy to allow employees to accumulate an unlimited number of hours of unused sick leave and up to 240 hours of unused vacation leave. Upon termination an employee may be granted a sick leave payment of 20%after 2 years of service. The percentage of eligible sick leave payment incrementally increases up to 50%after 20 years of service. The maximum amount of sick leave hours that may be paid to an employee at termination is 1,040 hours. Upon termination employees are granted 100% of allowable vacation hours at the current rate of pay. For the fiscal year ended September 30, 1994, the liability relating to unused sick leave and the full amount of the unused vacation leave was recorded in the accompanying _ financial statements. Accrued compensated absences flowing through governmental fund types are recorded in the General Long-Term Debt Account Group because it does not require the use of available spendable resources at the balance sheet data. For Proprietary Funds, the liability related to vested sick and vacation leave is recorded in the accompanying financial statements as a long-term liability. R -APPLICATION OF FASB PRONOUNCEMENTS TO PROPRIETARY FUNDS The County has elected early implementation of Statement 20 with regards to the application of FASB pronouncements to its proprietary funds. In accordance with GASB Statement 20, the County has elected not to apply those FASB Statements and Interpretations issued after November 30, 1989. S-TOTAL COLUMNS ON THE COMBINED STATEMENTS -OVERVIEW Total columns on the Combined Statements - Overview (General Purpose Financial Statements) are captioned "Memorandum Only"to indicate that they are presented only to facilitate financial analysis. Data in these columns does not present financial position, results of operations or cash flows in conformity with generally accepted accounting principles, and such data is not comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. 21 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 -- NOTE 2 -CASH AND INVESTMENTS The County maintains a cash and investment pool that is available for use by all funds. Each fund type's portion of this pool is displayed on the combined balance sheet under the heading of Cash and Investments. Investment income is allocated monthly to participating funds based on the percentage of each fund's average daily balance in the total pool. In addition, certain investments are separately held by fiscal agents or trustees in accordance with bond indentures and other contractual agreements. Florida Statute 125.31 and the County's investment policy authorize the County to invest surplus funds in the following: (a) The local government surplus funds trust fund. (b) Negotiable direct obligations of, or obligations the principal and interest of which are unconditionally guaranteed by, the United States Government and its agencies. (c) Non-negotiable interest bearing certificates of deposits or savings accounts in banks organized "' under the laws of this state, in national banks organized under the laws of the United States and doing business and situated in this state, in savings and loan associations which are under state supervision, or in federal savings and loan associations located in this state and organized under federal law and federal supervision, provided that any such deposits are secured by collateral as may be prescribed by law. (d) Obligations of the federal farm credit banks, Federal National Mortgage Association, Federal Home Loan Bank or its district banks, Federal Home Loan Mortgage Corporation, including Federal Home Loan Mortgage Corporation participation certificates,or obligations guaranteed by the Government National Mortgage Association. (e) Banker acceptances which are issued by institutions which have an AA rating from Standard & Poors or Moody's Rating Service and may be domestic, international or strong regional banking firms. (f) Prime commercial paper which has received a Standard and Poors rating of A-1 and/or Moody's rating of Prime-1. (g) Repurchase agreements governed by the County's master repurchase agreement. (h) Investments as allowed in certain bond resolutions. Investments are subject to several types of risks. The major risks are credit and market risks. Credit risk relates to whether or not the County will be able to recover its investment in a security at the security's maturity date. Approximately 95% of the County's investments are classified as Category 1 for credit risk, which is the highest category available. The remaining 5% of the County's securities are not categorized because they are not evidenced by securities that exist in physical or book entry form. Market risk relates to the risk that the market value of an investment will decline during the life of the investment. The level of market risk is determined by such factors as: the length of time before the investment matures and the likelihood of an investment being sold before its maturity in order to meet operational requirements. The county has invested in various U.S. government agency securities, including the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association collateralized mortgage obligations(CMO's). Due to rising interest rates during 1994,the market values of these securities declined. At September 30, 1994 the market value of these investments was approximately$5.5 million, or 7%, below cost. The County does not intend to sell these securities prior to the earlier of (1) maturity or final paydown, or(2),when the market value approximates cost. The County currently has the ability to hold these investment as it has sufficient liquidity to meet operations requirements. 22 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 2 -CASH AND INVESTMENTS-CONTINUED Deposits. At September 30, 1994,the County had demand deposits of$23,800,360 and$4,566,221 in cash with fiscal agents. These deposits were fully covered by federal depository insurance or by collateral as required by Sections 280.07 and 280.08 of the Florida Statutes. Investments. The County's investments at year-end by investment type and credit risk category were as follows: Investment/Credit Risk Category Carrying Market Amount Value Category 1 - Insured or collateralized with securities held by the County or it's agent in the County's name: U.S. Treasury Obligations $ 98,922,295 $ 99,667,486 U.S. Government Agency Securities 77,466,441 71,965,165 $ 176,388,736 $ 171,632,651 Not categorized: Local Government Surplus Funds Trust Fund $ 4,116,462 $ 4,116,462 Deferred Compensation Investments with Trustee (Mutual Fund) 5,727,970 5,727,970 $ 9,844,432 $ 9,844,432 Total Investments $ 186,233,168 $ 181,477,083 NOTE 3 -ACCOUNTS RECEIVABLE "- Accounts receivable for Enterprise Funds are net of an allowance for doubtful accounts as follows: Water and Solid Sewer Waste Emergency Airport Districts Disposal Medical Authority Total Accounts receivable $ 1,841,935 $ 1,485,195 $ 8,242,514 $ 40,587 $ 11,610,231 Allowance for doubtful accounts - - (7,764,813) - (7,764,813) Accounts receivable, net $ 1,841,935 $ 1,485,195 $ 477,701 $ 40,587 $ 3,845,418 No allowances have been provided for in any other funds. 23 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS -, SEPTEMBER 30, 1994 NOTE 4 - INTERFUND RECEIVABLES (DUE FROM) AND PAYABLES (DUE TO) -. Due from and due to other funds at September 30, 1994 were as follows: FUND Due From Other Funds Due to Other Funds General Fund $ 1,708,831 $ 1,043,814 Special Revenue Funds: Road Districts 6,660 - - Water Management and Pollution Control 23,119 - Unincorporated Areas 474,632 2,917 Grants and Shared Revenues - 59,192 Improvement Districts 10,746 9,200 Fire Control Districts 5,924 - Miscellaneous Florida Statutes Fee Collections 6,348 - Lighting Districts 5,621 - 911 Enhancement Fee - 39,228 Public Records Modernization 52 - 800 MHz IRCP Fund Account 14,946 - Tourist Development 198,507 - $ 746,555 $ 110,537 Debt Service Funds: Parks General Obligation Refunding Bonds 7,445 - Marco Island Limited General Obligation Bonds 5,630 - Euclid and Lakeland Assessment 1,183 28,000 Isle of Capri Renovations 363 - $ 14,621 $ 28,000 Capital Projects Funds: „ Parks Improvements 24,121 - Road Construction 30,000 60 Other Capital Projects 9,200 - Community Development Block Grant - 468,155 -, Road Impact Projects - 160 $ 63,321 $ 468,375 Enterprise Funds: County Water and Sewer 19,050 17,237 - Solid Waste Disposal 191,226 1,063 Airport Authority - 239,745 Emergency Medical Service - 1,102 $ 210,276 $ 259,147 Internal Service Funds: Self Insurance 1,084 - Fleet Management 4,220 - $ 5,304 $ - Fiduciary (Trust and Agency) Funds: Clerk of the Courts - 272,311 Sheriff 204 40,878 Tax Collector 1,944 484,403 Law Library 218 32 Inmate Welfare 18,693 7,181 County Drug Abuse 846 - Criminal Justice 21,774 - Confiscated Property - 33,566 Law Enforcement Training 3,444 - Pine Ridge and Naples Production Park 16,448 - Deposits - 64,235 $ 63,571 $ 902,606 Total All Funds $ 2,812,479 $ 2,812,479 24 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 5- RESTRICTED ASSETS Certain assets of the Enterprise Funds are restricted for specific uses by authorizing resolutions and bond agreements. Total restricted assets as of September 30, 1994 were as follows: Cash and investments $ 50,933,099 _ Special assessments receivable 17,846,546 Accrued interest receivable 1,180,544 Notes receivable 3,154,942 Due from other governments 25,856 Total restricted assets $ 73,140,987 NOTE 6- RESERVES FOR RESTRICTED ASSETS Reserves representing the excess of amounts provided for certain restricted assets over the liabilities payable therefrom are established by a reduction of retained earnings. Retained earnings were reserved as follows: Reserved for revenue bond retirement $ 9,719,411 Reserved for renewal and replacement 379,464 Reserved for landfill closure 1,463,623 Total reserves $ 11,562,498 Retained earnings were reserved to the extent of the excess of restricted assets over liabilities payable from restricted assets as follows: Total restricted assets $ 73,140,987 Less amounts for which retained earnings are not required to be reserved: Capital improvements and construction commitments (11,637,821) Grant proceeds (96,864) Unspent bond proceeds (677,160) System development charges designated for construction (14,359,500) Special assessments designated for future debt service (19,799,125) Deferred landfill closure costs (2,214,653) Current liabilities payable from restricted assets: Vouchers payable (227,617) Retainage payable (2,918,436) Due to other governments (130,701) Current maturities of bonds and notes payable (4,590,775) Accrued interest (2,185,564) Matured bonds and interest payable (23,872) Customer deposits (2,716,401) Reserved retained earnings $ 11,562,498 25 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 — NOTE 7 — FIXED ASSETS A summary of changes in General Fixed Assets follows: Improvements Other Than Construction Land Buildings Buildings Equipment In Progress Total — Balance 10/1/93 $ 22,516,001 $ 81,261,795 $ 28,598,939 $ 33,463,496 $ 638,736 166,478,967 Reclassifications 1,129 4,306,374 3,085,194 - (7,392,697) - Additions 513,078 137,936 739,575 4,642,846 8,072,956 14,106,391 Deletions - - (572,825) (1,915,092) - (2,487,917) Transfers In - - - 2,114,290 - 2,114,290 Transfers out (72,920) - - (52,381) - (125,301) .-U Balance9/30/94 $ 22.957.288 $ 85.706,105 $ 31.850,883 $ 38.253.159 $ 1.318.995 $ 180.086.430 Enterprise Fund property,plant and equipment at September 30,1994 consisted of the following: ... County Marco Solid Waste Emergency Medical Marco Island Water and Sewer Water and Sewer Goodland Water Disposal Services Airport Total ,--, Land $ 4,473,799 $ 860 $ 365 $ 1,459,890 $ - -$ 5,934,914 Buildings 85,109,736 - - 259,715 221,588 - 85,591,039 Improvements Other Than Buildings 210,691,316 4,635,264 1,211,441 153,058 3,127 - 216,694,206 Equipment 3,257,677 - - 3,507,677 2,647,813 50,994 9,464,161 Construction In Progress 17,569,777 - - 6,685,635 - - 24,255,412 Excess of Cost Over Fair Value of Assets 3,305,527 - - - - - 3,305,527 $ 324,407,832 $ 4,636,124 $ 1,211,806 $ 12,065,975 $ 2,872,528 $ 50,994 $ 345,245,259 — Accumulated Depreciation (45,308,469) (1,116,807) (599,939) (2,159,856) (1,038,133) (10,262) (50,233,466) Total $ 279.099.363 $ 3,519.317 $ 611.867 $ 9.906.119 $ 1.834.395 $ 40.732 $ 295,011,793 Internal Service Fund property,plant and equipment at September 30,1994 consisted of the following: Automated Information Self Fleet Systems Insurance Management Total Buildings $ - $ - $ 146,123 $ 146,123 '--- Equipment 753,885 20,160 2,881,962 3,656,007 $ 753,885 $ 20,160 $ 3,028,085 $ 3,802,130 ,^ Accumulated Depreciation (237,304) (13,122) (1,480,691) (1,731,117) Total $ 516,581 $ 7,038 $ 1,547,394 $ 2,071,013 — 26 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 8-LONG-TERM DEBT SUMMARY OF CHANGES IN GENERAL LONG-TERM DEBT The following is a summary of changes in general long-term debt for the year ended September 30, 1994: 000's Omitted Payable Payable October 1, Debt Debt Debt September 30, 1993 Issued Retired Defeased 1994 General Obligation Bonds $ 10,021 $ - $ (919) $ - $ 9,102 Limited Obligation Revenue Bonds 52,455 30,415 (2,570) (29,285) 51,015 Governmental Notes 951 - (584) - 367 Commercial Paper 13,750 650 (1,600) - 12,800 _ Compensated Absences 4,646 1,210 - - 5,856 Capitalized Leases 1,302 - (392) - 910 Total $ 83,125 $ 32,275 $ (6,065) $ (29,285) $ 80,050 The following is a summary of changes in proprietary fund long-term debt for the year ended September 30, 1994: 000's Omitted Payable Payable October 1, Debt Debt Debt Amortized September 30, 1993 Issued Retired Defeased Discount 1994 Revenue Bonds $ 106,734 $ 64,545 $ (3,674) $ (58,281) $ 10 $ 109,334 Notes Payable 15,184 309 (1,223) - 75 14,345 Capitalized Leases 566 - (215) - - 351 Total $ 122,484 $ 64,854 $ (5,112) $ (58,281) $ 85 $ 124,030 27 COLLIER COUNTY, FLORIDA -- NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 8 - LONG-TERM DEBT-CONTINUED DESCRIPTIONS OF BOND ISSUES AND NOTES PAYABLE -- Bonds and notes payable at September 30, 1994 were composed of the following: General Obligation Bonds $300,000 1976 Golden Gate MSTD Bonds due in annual installments of $14,000 to $45,000 through January 1, 1996; interest at 6.00% to 6.25%. $ 87,000 $8,715,000 1986 Park and Recreation MSTD Refunding Bonds due in annual installments of $5,000 to $835,000 through November 1, 2002; interest at 4.50% to 7.25%. 5,810,000 $5,000,000 1989 Marco Island Beachfront Renourishment Facilities Limited General Obligation Bonds due in annual installments of$270,000 to$630,000 through July 1, 2000; interest at 6.60% to 7.10%. 3,205,000 Total General Obligation Bonds $ 9,102,000 Limited Obligation Revenue Bonds ^ $5,000,000 1973 Improvement Revenue Certificates due in annual installments of $25,000 to $350,000 through July 1, 2003; interest at 5.50% to 6.25%. Race track revenues are pledged for the payment of these bonds. $ 2,550,000 $5,000,000 1977 Guaranteed Entitlement Revenue Bonds due in annual installments of $90,000 to $370,000 through October 1, 2003; interest at 5.90% to 6.75%. State revenue sharing receipts are pledged for the debt service on these bonds. 2,660,000 $6,520,000 1986 Gas Tax Road Improvement Revenue Bonds due in annual installments of$50,000 to $555,000 through June 1, 2010; interest at 4.25% to 7.00%. Ninth cent gasoline tax revenues are pledged for the debt service on these bonds. 5,730,000 -- $4,400,000 1990 Special Obligation Revenue Bonds due in annual installments of $775,000 to $1,000,000 through December 1, 1996, interest at 6.75%. Non-ad valorem funds not otherwise pledged will be appropriated for debt service on these bonds. 1,925,000 $8,225,000 1992 Capital Improvement Revenue Refunding Bonds due in annual installments of $240,000 to $480,000 through October 1, 2013; interest at 2.70% to 5.80%. Local government half-cent sales tax revenue is pledged for the debt service on these bonds. 7,735,000 $30,415,000 1994 Capital Improvement Revenue Refunding Bonds due in annual installments of$1,090,000 to $2,790,000 through April 1, 2012; interest at 4.35% to 6.00%. Local government half-cent sales tax revenue is pledged for the debt service on these bonds. 30,415,000 Total Limited Obligation Revenue Bonds $ 51,015,000 28 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 8-LONG-TERM DEBT-CONTINUED DESCRIPTIONS OF BOND ISSUES AND NOTES PAYABLE - CONTINUED _ Commercial Paper $12,800,000 Commercial Paper issued by the Florida Local Government Finance Commission Pooled Commercial Paper Program, variable rate for the current fiscal year of 2.75%to 3.56%, collateralized by non ad-valorem revenue. $ 12,800,000 Notes Payable $782,959 1992 note payable to financial institution, collateralized by special assessments levied against benefitted properties, payable in annual installments of$260,986 through October 1995, dated August 4, 1992. Interest payable at 5.94% per annum. $ 47,486 $160,500 1993 note payable to a financial institution, collateralized by ad valorem — taxes collected within the Isle of Capri Fire District, payable in annual installments of$22,928 through April 2000, dated April 1, 1993. Interest payable at 6.63% per annum. 137,571 $221,300 1993 note payable to a financial institution, collateralized by certain monies received from the State of Florida Public Health Unit Trust Fund, payable in monthly installments, including interest, of$4,245 through September 1998, dated September 30, 1993. Interest payable at 5.68% per annum. 181,914 Total Notes Payable $ 366,971 — Enterprise Fund Revenue Bonds $1,960,000 1981 Marco Island Water and Sewer Revenue Bonds due in annual installments of$7,736 to $100,293 through June 1, 2021; interest at 5.00%. Principal and interest are payable from the net revenues of the system and special assessment collections. $ 208,891 $468,500 1982 Goodland Water District Water Revenue Bonds due in annual installments of$2,000 to $110,000 through September 1, 2021; interest at 5.00%. Principal and interest are payable from the net revenues of the system and special assessment collections. 185,000 $1,250,000 1988 Marco Water and Sewer District Special Assessment Bonds due in annual installments of$125,000 through May 1, 1998; interest at 6.75% to 8.00%. Principal and Interest are payable from the net revenues of the system and special assessment collections on a subordinated basis to the 1981 Marco Island Water and Sewer Revenue Bonds. 500,000 $15,960,000 1990 Collier County Water and Sewer District Sewer Assessment Bonds due in annual installments of$290,000 to $1,120,000 through October 1, 2011; interest at 6.10% to 7.15%. Principal and interest are payable from the operating net revenues of the system and special assessment collections _ on a subordinated basis to the 1991, 1992 and 1994 County Water and Sewer Revenue Bonds. 4,920,000 $55,225,000 Collier County Water and Sewer District, Water and Sewer Revenue Bonds, Series 1991. Due in annual installments of $170,000 to $3,590,000 through July 1, 2021; interest at 4.40% to 6.50%. Principal and interest are payable from the net operating revenues of the system, system development fees and special assessment collections. 27,595,000 $13,090,000 Collier County Water and Sewer District, Water and Sewer Revenue Bonds, Series 1992. Due in annual installments of$595,000 to $965,000 through July 1, 2010; interest at 3.20% to 6.375%. Collateralized by a parity first lien on the pledged revenues listed on the $55,225,000 Water and Sewer Revenue Bonds, Series 1991. 11,895,000 Total carried forward $ 45,303,891 (continued) 29 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 8- LONG-TERM DEBT-CONTINUED DESCRIPTION OF BOND ISSUES AND NOTES PAYABLE - CONTINUED Total Brought Forward $ 45,303,891 $24,225,000 1994 Taxable County Water and Sewer Refunding Revenue Bonds due in annual installments of$375,000 to $2,315,000 through July 1, 2010; interest at 3.35% to 6.88%. Collateralized by a parity first lien on the pledged revenues listed on the$55,225,000 Water and Sewer Revenue Bonds, Series 1991. 23,850,000 $40,320,000 1994 County Water and Sewer Refunding Revenue Bonds due in annual installments of $55,000 to $4,315,000 through July 1, 2021; interest at 3.0% to 5.35%. Collateralized by a parity first lien on the pledged revenues listed on the $55,225,000 Water and Sewer Revenue Bonds, Series 1991. 40,320,000 $ 109,473,891 Unamortized bond discount (139,679) Total Enterprise Fund Revenue Bonds $ 109,334,212 Less: Current portion of bonds payable from restricted assets (4,055,738) Long-term portion of Enterprise Fund Revenue Bonds $ 105,278,474 Enterprise Fund Notes Payable $5,890,100 note payable to private water and sewer company, payable through use of water and sewer system development fee credits by company or its assignees, or, to the extent of unused credits, payable at the current cash value of the credits (minimum of the original face value) in 2006. Non-interest bearing note; interest imputed at 7.00%. $ 199,353 $14,547,667 State Revolving Loan note payable, to be drawn down as required for construction commitments, interest payable at 4.25% repayable in 20 annual payments commencing October 1, 1992, collateralized by a lien on pledged revenues consisting of net revenues (as defined in the loan resolution) from the operations of the County Water-Sewer System, proceeds derived from the levy of special assessments levied upon the properties benefitted by the project, system development fees and connection fees. The lien shall be subordinate in all respects to liens placed upon pledged revenues established by bonded indebtedness. 13,214,464 $1,469,999 County Water-Sewer District note payable to private developers, payable through use of water and sewer system development fee credits. Non- interest bearing note. 882,016 $1,061,741 Pelican Bay Division note payable to a private developer, payable through use of water and sewer system development fee credits. Non-interest bearing note. 132,690 $ 14,428,523 Unamortized discounts (83,529) Total Enterprise Fund Notes Payable $ 14,344,994 Less: Current portion of notes payable from unrestricted assets (863,026) Less: Current portion of notes payable from restricted assets (535,037) Long term portion of Enterprise Fund Notes Payable $ 12,946,931 30 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 8- LONG-TERM DEBT-CONTINUED SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY The total annual debt service requirements to maturity of long-term debt, excluding compensated absences, capitalized leases and discounts are as follows: General Long-Term Enterprise Debt Funds Totals 1995 $ 8,733,217 $ 12,565,532 $ 21,298,749 1996 8,512,771 10,154,908 18,667,679 1997 8,116,184 10,319,866 18,436,050 1998 8,268,251 10,276,975 18,545,226 1999 14,290,583 10,128,338 24,418,921 2000-2004 28,383,562 50,556,292 78,939,854 2005-2009 21,109,923 47,354,876 68,464,799 2010-2014 12,139,827 40,667,479 52,807,306 2015-2019 - 18,676,116 18,676,116 2020-2021 - 4,167,821 4,167,821 Total debt service requirement $ 109,554,318 $ 214,868,203 $ 324,422,521 Less amount representing interest 36,270,347 90,965,789 127,236,136 Total $ 73,283,971 $ 123,902,414 $ 197,186,385 The amount available in Debt Service Funds to service general obligation bonds, limited obligation revenue — bonds, commercial paper and notes payable obligations are $66,636, $5,609,528, $156,349 and $208,871, respectively. INTEREST CAPITALIZED Interest costs on long-term debt incurred and capitalized during the year ended September 30, 1994 were as follows: Total Interest Interest Cost Net Interest Cost Incurred Capitalized Expense Enterprise Funds $ 7,317,069 $ (2,161,228) $ 5,155,841 Interest cost capitalized was offset by$32,106 of interest earned on unspent bond proceeds designated for construction projects for a net increase to construction-in-progress of$2,129,122. NEW BOND ISSUES During February 1994, the County issued the $64,545,000 Collier County Water and Sewer District, Water and Sewer Revenue Bonds, Series 1994 of which$62,795,751 was used to advance refund the$24,240,000 1985 County Water and Sewer District Water Revenue Refunding Bond and the $11,600,000 1986 Collier County Capital Improvement Program Revenue Bonds Sub-Series One. 31 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 — NOTE 8- LONG-TERM DEBT-CONTINUED — NEW BOND ISSUES - CONTINUED The $55,225,000 Collier County Water and Sewer District, Water and Sewer Revenue Bonds, Series 1991 were also partially refunded by the Series 1994 Bonds, leaving a balance outstanding of$28,380,000 on that original issue. The bonds are secured by the net operating revenues of the County water and sewer system. Refer to Note 11 for further information on the debt defeasances. — During September 1994, the County issued the $30,415,000 Collier County Capital Improvement Revenue Refunding Bonds, Series 1994 to advance refund the $31,375,000 1986 Capital Improvement Revenue — Bonds. The local government half-cent sales tax is pledged as the revenue source for repayment of these bonds. Refer to Note 11 for further information on the debt defeasance. LEGAL DEBT MARGIN The constitution of the State of Florida and the Florida Statutes set no legal debt limit. RESTRICTIVE COVENANTS Official statements and County resolutions authorizing the general obligation and revenue bonds establish certain accounts and determine the order in which certain revenues are to be deposited into those accounts as well as establish reserve requirements. All required balances were maintained. Water and sewer revenue bonds are payable solely from and secured by a first lien upon and pledge of the net revenues and certain other fees and charges derived from the operation of the County's water and sewer system. The pledge of the net revenues derived by the County from the operation of the water and sewer system does not constitute a lien upon the water and sewer system or any other property of the County. The covenants of the resolutions authorizing the County Water and Sewer District Revenue Refunding Bonds, Series 1994, 1992 and 1991 Series include, among other things, an obligation for the County to fix, establish and maintain such rates and collect such fees, rentals or other charges for the services and facilities of the water and sewer system, and to revise the same from time to time whenever necessary, so as to always provide in each year net revenues, as defined in the resolutions authorizing the revenue bonds, which together with the system development fees and special assessment proceeds received in each fiscal year shall be adequate to pay at least one hundred twenty-five percent (125%) of the annual debt service requirements for the Water and Sewer Revenue Refunding Bonds; provided, however, that net revenues in each fiscal year shall be adequate to pay at least one hundred percent (100%) of the annual debt service for the bonds. The Marco Island Water and Sewer Revenue Bonds, Series 1981 and Series 1988 along with the Goodland Water District Water Revenue Bonds require the County to maintain such rates and fees (including special assessment proceeds)to provide revenue sufficient to pay necessary expenses of operating and maintaining — the systems and to meet at least one hundred percent (100%) of the annual debt service for the bonds. The bond resolution of the$15,960,000 Collier County Water and Sewer District Sewer Assessment Bonds, Series 1990, provides for the establishment and maintenance of a reserve account in an amount equal to the reserve account requirement,which shall be maintained for the benefit of the holders of the bonds. The reserve account requirement is defined as an amount equal to the lesser of (i) the maximum annual debt service for all outstanding bonds; (ii) one hundred twenty-five percent (125%) of the average annual debt service for all outstanding bonds; or (iii) ten percent (10%) of the aggregate proceeds of the bonds. — 32 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 8-LONG-TERM DEBT-CONTINUED RESTRICTIVE COVENANTS - CONTINUED The reserve account requirement is fulfilled by the issuance on the date of delivery of the bonds of a debt service reserve surety to be issued by the Insurer in the amount of$1,596,000. The water and sewer funds were in compliance with these covenants for the year ended September 30, 1994. LEASE OBLIGATIONS The County is committed to various capital leases. Capital leases are generally defined as leases which transfer benefits and risks of ownership to the lessee. At year end, assets acquired through capital leases were recorded in the General Fixed Asset Account Group and in the Proprietary Funds as equipment in the amounts of $2,222,974 and $850,245, respectively. Capitalized leases payable at September 30, 1994 amounted to $1,261,757. These obligations, which are collateralized by equipment and vehicles, have annual installments of$829,900 including interest ranging from 4% to 10% and mature through 1999. Future minimum capital lease obligations as of September 30, 1994 were as follows: Internal General Enterprise Service Long-Term Debt Fund Debt Fund Debt Total 1995 $ 354,815 $ 77,188 $ 168,322 $ 600,325 1996 342,984 - 126,242 469,226 1997 127,936 - - 127,936 1998 127,500 - - 127,500 1999 83,507 - - 83,507 Total minimum lease payments $ 1,036,742 $ 77,188 $ 294,564 $ 1,408,494 Less: Amount representing interest (126,313) (4,951) (15,473) (146,737) Present value of minimum lease payments $ 910,429 $ 72,237 $ 279,091 $ 1,261,757 The County has entered into numerous operating leases. Rental expenditures for leased facilities and equipment for the fiscal year ended September 30, 1994 were as follows: _ Board of County Commissioners $ 537,965 Tax Collector $ 154,652 Total $ 692,617 Commitments for future minimum operating lease payments are not significant. 33 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 9- REVENUE BONDS ADMINISTERED BY THE STATE OF FLORIDA Section 206.41, Florida Statutes, imposes an excise tax on motor fuel sold in Florida. This tax is known as the Constitutional Gas Tax(also known as the 5th and 6th Cent Gas Tax). This tax is collected by the State Department of Revenue and transmitted to the State Board of Administration. The State Board of Administration makes payments necessary to reduce the bonded indebtedness issued pursuant to the provisions of the State Constitution for road and bridge purposes. Excess taxes are transmitted to the State Department of Transportation,who can appropriate funds for work done in Collier County and also transmit funds to the County itself to fund highway capital improvements. In accordance with the above, the State Board of Administration administers Collier County Road Bond Certificates of Indebtedness dated 1979, of which$7,310,000 is outstanding as of September 30, 1994. This issue is not recorded in the General Long-Term Debt Account Group, because the principal and interest are required to be paid solely from the gross revenue of the Second Gas Tax administered by the State Board of Administration. These bonds are not an indebtedness against Collier County. NOTE 10 - SPECIAL ASSESSMENT DEBT WITH NO GOVERNMENT COMMITMENT $3,590,000 Water Management Special Assessment Bonds. Series 1978 By resolution 90-335 dated June 19, 1990, the County succeeded to the powers, rights, duties, functions and obligations of the Pelican Bay Improvement District, as provided by Chapter 74-462, Laws of Florida. -- Control of the District's records became effective July 6, 1990. At that time, the County became the agent for the District's $3,590,000 Water Management Special Assessment Bonds. Special assessments were pledged by property owners within the District. The County was not obligated to repay the special assessment if sufficient assessment funds were not available. The County functioned as agent which meant that all assessments were collected and forwarded to the debt holders. On August 15, 1994 the Board of County Commissioners approved redemption of the $3,590,000 Water Management Special Assessment Bonds with a portion of County funds in exchange for conversion of the Pelican Bay utility rate structure to County utility rates. The remaining balance of assessment proceeds pledged by property owners in the District along with a transfer of $561,400 from the County Water and Sewer fund allowed for the redemption of these Bonds on September 30, 1994. $17.335,000 Pine Ridge Industrial Park and Naples Production Park Special Assessment Bonds. Series 1993 In September 1993,the County issued, on behalf of the property owners within the Naples Production Park and Pine Ridge Industrial Park Districts,$17,335,000 of special assessment bonds. The bond proceeds from the issue were used to repay amounts previously borrowed under the County's line of credit arrangement. Special assessments are pledged by property owners within the Districts. The County is not obligated to repay the special assessment debt if sufficient assessment funds are not available. The County functions as agent for the property owners in collecting the assessments, forwarding the collections to bondholders, and initiating foreclosure proceedings, if appropriate. The special assessments received and the related debt service payments are accounted for in an agency fund on behalf of the property owners. 34 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 11 -DEFEASED DEBT The County has defeased certain outstanding bond issues by placing the proceeds of new bonds in irrevocable trusts to provide for all future debt service payments on the old bonds. Accordingly,the trust accounts and the defeased bonds are not included in the County's financial statements. At September 30, 1994 the following issues were considered defeased: Defeased Original Bonds General Long-Term Debt Debt Outstanding 1982 Capital Improvement Bonds $ 23,845,000 $ 800,000 1986 Capital Improvement Revenue Refunding Bonds 31,375,000 29,285,000 1988 Sales Tax Revenue Bonds 7,790,000 7,080,000 1986 Capital Improvement Program Revenue Bonds, Sub-Series 5 Mode A 12,245,000 11,735,000 Total Defeased General Long-Term Debt $ 75,255,000 $ 48,900,000 Defeased Original Bonds Enterprise Fund Debt Debt Outstanding '— 1983 County Water and Sewer District Refunding Bonds $ 22,000,000 $ 18,430,000 1985 Pelican Bay Improvement District General Obligation and Revenue Bonds 9,275,000 7,850,000 1985 County Water and Sewer Revenue Refunding 24,240,000 21,815,000 1986 Capital Improvement Program Revenue Bonds, Sub-Series One 11,600,000 10,290,000 1986 Capital Improvement Program Revenue Bonds, Sub-Series Two 5,000,000 4,520,000 1986 Capital Improvement Program Revenue Bonds, Sub-Series Three 2,000,000 1,800,000 1986 Capital Improvement Program Revenue Bonds, Sub-Series Four 18,000,000 16,430,000 1989 Pelican Bay Improvement District Water and Sewer General Obligation and Revenue Bonds 8,870,000 7,720,000 1991 County Water and Sewer Revenue Bonds (partially defeased $25,930,000) 55,225,000 25,930,000 Total Defeased Enterprise Fund Debt $ 156,210,000 $ 114,785,000 35 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 11 - DEFEASED DEBT-CONTINUED Enterprise Fund Debt Defeased During Current Year During February 1994, the County issued the$64,545,000 Collier County Water and Sewer District, Water and Sewer Revenue Bonds, Series 1994 of which $62,795,751 was used to advance refund three bond issues: -- $24,240,000 1985 County Water and Sewer District Water Revenue Refunding Bonds with interest at 7.1%to 8.75%. $ 21,971,250 $11,600,000 1986 Collier County Capital Improvement Program Revenue Bonds Sub-Series One with interest at 4.50%to 6.875%. 10,379,583 $55,225,000 Collier County Water and Sewer District, Water and Sewer Revenue Bonds, Series 1991 with interest at 4.40% to 6.50% partially refunded with a balance outstanding of$28,380,000. 25,930,000 $ 58,280,833 The Revenue Bonds were issued at par and after paying issuance costs of$1,749,249 the net proceeds were $62,795,751. The net proceeds were used to purchase U.S. Government securities which were deposited in an irrevocable trust with an escrow agent to provide debt service payments until the bonds are called from July 1, 1994 through July 1, 1999. The advance refunding met the requirements of an in-substance debt defeasance and the bonds were removed from the County's books. As a result of the advance refunding the County reduced its total debt service requirements by$8,432,083,which resulted in an economic gain (difference between the present value of the debt service payments on the old and new debt) of$4,460,383. General Long-Term Debt Defeased Durina Current Year During September 1994, the County issued the $30,415,000 Collier County Capital Improvement Revenue Refunding Bonds, Series 1994 to advance refund the following bond issue: $31,375,000 1986 Capital Improvement Revenue Bonds with interest at 4.50% to 7.25%. $ 29,285,000 The net proceeds were $29,815,513 after the original issue discount of $199,265 and payment of $400,222 in underwriting fees, insurance and other issuance costs. All of the net proceeds along with $1,045,379 of 1986 series sinking fund monies were used to purchase U.S. Government securities which were deposited in an irrevocable trust with an escrow agent to satisfy scheduled principal and interest payments of the defeased debt. This advance refunding met the requirements of an in-substance debt defeasance and the bonds were removed from the County's books. As a result of this advance refunding, the County reduced its total debt service requirements by $2,735,651 which resulted in an economic gain (difference between the present values of the debt service payments on the old and new debt) of $2,504,210. 36 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 12 -BUDGET TO ACTUAL Accounting principles used to prepare the budget are different from those used to prepare the financial statements in conformity with generally accepted accounting principles (GAAP). The following table reconciles —' the amounts on the Combined Statement of Revenues, Expenditures and Changes in Fund Balance - Budget to Actual (which are presented on a non-GAAP budgetary basis) to the amounts on the Combined Statement of Revenues, Expenditures and Changes in Fund Balance (which are presented on a GAAP basis). (dollars in thousands) General Capital Expendable Fund Projects Fund Trust Fund Excess of revenues and other financing sources over (under) expenditures and other financing uses (budgetary basis) $ 2,117 $ 6,167 $ (669) Basis Difference: Deferred impact fee revenue - (2,586) - Reduction in operating expenditures for principal and interest payments on installment agreements (17) - - Increase in debt service expenditures for payments on installment agreements 17 - - Excess of revenues and other financing sources over (under) expenditures and other financing uses (GAAP basis budgeted funds) 2,117 3,581 (669) Other Adjustments: Entity Difference: Non-budgeted funds: Law Library - - (9) Inmate Welfare - - (45) .., Impact Fees Escrow - - (60) Excess of revenues and other financing sources over (under) - expenditures and other financing uses (GAAP basis) $ 2,117 $ 3,581 $ (555) 37 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 13 — SEGMENT INFORMATION — ENTERPRISE FUNDS The County maintains enterprise funds which provide water,sewer, solid waste disposal and emergency medical services. Segment information for the year ended September 30, 1994, is as follows: County Water Marco Water Goodland Solid Waste and Sewer and Sewer Water Disposal -- Operating revenue $ 30,441,479 $ 305,393 $ 100,634 $ 11,412,768 Operating expenses: Depreciation and amortization 7,161,082 115,013 57,723 1,075,419 Operating expenses 14,450,652 388,183 142,492 8,995,674 Operating income (loss) $ 8,829,745 $ (197,803)$ (99,581)$ 1,341,675 Operating grants $ — $ — $ — $ 373,992 Net non operating revenue (expense) $ (430,649)$ 27,266 $ 21,416 $ 1,133,835 Income (loss) before operating transfers $ 8,399,096 $ (170,537)$ (78,165)$ 2,475,510 Operating transfers in 18,613 — — 63,723 -- Operating transfers out (156,528) — — (230,410) Net income (loss) $ 8,261,181 $ (170,537)$ (78,165)$ 2,308,823 ,^ Current capital contributions $ 15,519,776 $ — $ 118,836 $ 72,919 Property, plant and equipment: Additions $ 23,184,667 $ 13,161 $ 33,781 $ 697,228 --, Deletions $ 109,347 $ — $ —$ 1,137,891 Net working capital $ 53,542,871 $ 653,219 $ 447,726 $ 14,872,257 Total assets $ 377,096,007 $ 4,783,349 $ 1,245,660 $ 25,658,096 Total long term liabilities $ 117,792,477 $ 579,204 $ 182,267 $ 2,259,492 Total fund equity $ 245,871,830 $ 3,996,147 $ 1,047,500 $ 22,518,884 Emergency _ Medical Airport Services Authority Totals $ 3,630,715 $ 435,096 $ 46,326,085 318,583 3,932 8,731,752 5,284,078 397,325 29,658,404 $ (1,971,946)$ 33,839 $ 7,935,929 $ 47,943 $ — $ 421,935 -- $ 115,996 $ 5,126 $ 872,990 $ (1,855,950)$ 38,965 $ 8,808,919 1,934,715 — 2,017,051 (386,938) $ 78,765 $ 38,965 $ 10,439,032 $ 16,592 $ 82,644 $ 15,810,767 $ 203,588 $ 4,715 $ 24,137,140 $ 273,498 $ 1,700 $ 1,522,436 $ 1,063,760 $ 237,343 $ 70,817,176 $ 3,103,611 $ 522,773 $ 412,409,496 $ 191,947 $ 5,413 $ 121,010,800 $ 2,706,856 $ 272,662 $ 276,413,879 38 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS — SEPTEMBER 30, 1994 NOTE 14 CONTRIBUTED CAPITAL — The following is a summary of changes in contributed capital: -. ENTERPRISE FUNDS — Balance Balance 10/01/93 Contributions Depreciation 9/30/94 County Water and Sewer $ 182,682,668 $ 15,519,776 $ (4,256,584) $ 193,945,860 Marco Water and Sewer 3,658,061 — (91,452) 3,566,609 Goodland Water 755,674 118,836 (20,377) 854,133 Solid Waste Disposal 481,091 72,919 (23,180) 530,830 Emergency Medical Services 1,540,269 16,592 (230,477) 1,326,384 Airport Authority 523 82,644 (954) 82,213 Total $ 189,118,286 $ 15,810,767 $ (4,623,024) $ 200,306,029 •. INTERNAL SERVICE FUNDS Balance Fund Closed to Balance 10/01/93 Contributions General Fund Depreciation 9/30/94 Automated Information Systems $ 177,119 $ 1 $ — $ (18,826) $ 158,294 Data Processing 48,983 — (48,983) — — Records Management 81,577 — (81,577) — — .� Self Insurance 8,310 625 — (1,824) 7,111 Sheriff's Self—Insurance — — — — — Fleet Management 978,725 52,717 — (196,320) 835,122 — Total $ 1,294,714 $ 53,343 $ (130,560) $ (216,970) $ 1,000,527 39 — COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 15 - DEFERRED COMPENSATION PLAN Under separate agreements with the National Association of County Officers and the International City Managers Association, the County offers its employees a choice of two deferred compensation plans created in accordance with Internal Revenue Code Section 457. The plans, available to all County employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees or their estate until termination, retirement, death, or unforeseeable emergency. _ All amounts of compensation deferred under the plans, all property and rights purchased with those amounts, and all income attributable to those amounts, property, or rights are (until paid or made available to the employee or other beneficiary) solely the property and rights of the County(without being restricted to the provisions or benefits under the plans), subject only to the claims of the County's general creditors. Participants' rights under the plans are equal to those of general creditors of the County in an amount equal to the fair market value of their deferred compensation account. Assets of the deferred compensation plans are recorded at fair market value and are accounted for in an agency fund. It is the opinion of the County's legal counsel that the County has no liability for losses under the plans, but must exercise due care as would be expected of an ordinary prudent investor. The County believes that it is unlikely it will use the assets to satisfy the claims of general creditors in the future. NOTE 16 - PENSION PLAN OBUGATIONS All full-time County employees are participants in the statewide Florida Retirement System (System) under the authority of Article X, Section 14 of the state constitution and Florida Statutes, Chapter 112 and 121. The plan is a defined benefit, cost-sharing, multiple-employer public retirement system, which is controlled by the State Legislature and administered by the State of Florida, Department of Administration, Division of Retirement. Actuarial and other information with respect to an individual participating entity is not available. The System provides for vesting of benefits after 10 years of creditable service. Normal retirement benefits are available to employees who retire at or after age 62 with 10 or more years of service. Early retirement is available after 10 years of service with a 5% reduction of benefits for each year prior to the normal retirement age. Retirement — benefits are based upon age, average compensation and years-of-service credit, where average compensation is computed as the average of an individual's five highest years of earnings. Participating employer contributions are based upon actuarially determined State-wide rates established by the State of Florida, that expressed as percentages of annual covered payroll, are adequate to accumulate sufficient assets to pay benefits when due. These rates are applied to employee salaries as follows: regular employees - 17.10%, special risk employees - 27.03%, senior management - 23.07%, and elected officials - 26.07%. There are no employee contributions to the plan. 40 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 16- PENSION PLAN OBLIGATIONS -CONTINyED The County's contribution to the plan for the year ended September 30, 1994 was approximately $11,332,000 and was paid by the due date for the contribution. This represents 20%of the County's covered payroll of$54,292,000. The total payroll for fiscal year 1994 was$56,328,000. Total annual covered payroll for the entire System for its fiscal year ended June 30, 1993, (the latest fiscal year for which data is available)was$14.6 billion. Total annual employer contributions to the System for this same fiscal year were $2.6 billion. Accordingly, the County's share of the actuarially determined contribution based on that amount is approximately 0.44 percent. The amount shown below as"pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, assess progress in accumulating ,^ sufficient assets to pay benefits when due, and make comparisons among Public Employee Retirement Systems. The measure is independent of and should not be confused with the actuarial funding method used to determine contributions to the System. In accordance with the Governmental Accounting Standards Board Statement 5,an actuarial valuation to determine the pension benefit obligation as of June 30, 1993 was performed by the System's consulting actuaries. Significant actuarial assumptions used include (a) a rate of return on the investment of present and future assets of 8 percent per year compounded annually; (b) projected salary increases of 5.5 percent per year compounded annually, attributable to inflation; (c)additional projected salary increases of 2.0 percent per year attributable to seniority/merit; and (d) post-retirement benefit increases of 3 percent per year. There were no significant changes made to benefit provisions since the last evaluation. The pension benefit obligation for the System by as a whole, determined through an actuarial valuation was$39.7 billion at June 30, 1993 (the latest year for which data is available). The update also indicates that the System had net assets available for benefits (valued at cost) of approximately$31.7 billion (market value) on that date, resulting in an unfunded pension benefit obligation of approximately $8.0 billion. Ten-year historical trend information showing the System's progress in accumulating sufficient assets to pay benefits when due is presented in the System's June 30, 1993 Annual Financial Report. NOTE 17 - RELATED PARTY TRANSACTIONS For the fiscal year ended September 30, 1994, there were no significant related party transactions. 41 - I COLLIER COUNTY, FLORIDA - • NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 - NOTE 18 - OPERATING TRANSFERS Operating transfers for the year ended September 30, 1994 were as follows: FUND Transfer in from other funds Transfers out to other funds General Fund $ 10,970,861 $ 14,633,576 Special Revenue Funds: Road Districts 6,377 21,074 Water Management and Pollution Control 78,829 124,680 - Unincorporated Areas 771,003 8,827,853 Grants and Shared Revenues 199,417 - Improvement Districts 109,075 116,595 Fire Control Districts 545,845 124,501 Miscellaneous Florida Statutes Fee Collections 4,040 - Lighting Districts 5,548 24,044 Tourist Development _ 45,848 215,983 $ 1,765,982 $ 9,454,730 Debt Service Funds: Golden Gate General Obligation Bonds 40,500 - Parks General Obligation Refunding Bonds 7,225 30,720 Marco Island Limited General Obligation Bonds 5,628 23,036 Road and Other Improvements 1,292,950 650,000 Special Obligation Revenue Bonds 995,000 - - Euclid and Lakeland Assessment 1,166 6,148 Isle of Capri Renovations 321 823 $ 2,342,790 $ 710,727 - Capital Projects Funds: County Wide Capital Improvements 5,341,900 3,265,894 Parks Improvements 688,068 - County Wide Library 650,000 1,750 - Road Impact Fees 318,452 450,000 Road Construction 5,674,694 318,452 Water Management 201,800 1,031,690 Other Capital Projects 581,800 - - $ 13,456,714 $ 5,067,786 Enterprise Funds: - County Water and Sewer 18,613 156,528 Solid Waste Disposal 63,723 230,410 Emergency Medical Service 1,934,715 - $ 2,017,051 $ 386,938 - Internal Service Funds: Automated Information System 7,200 - Date Processing 35,000 - $ 42,200 $ - Trust and Agency Funds: Criminal Justice - 285,000 - Confiscated Property - 56,841 $ - $ 341,841 Total $ 30,595,598 $ 30,595,598 42 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 19- FUND EQUITY Contributed Capital: Balances represent capital grants and contributions received from developers, customers or other funds. Retained Earnings Enterprise Funds-Reserved for Revenue Bond Retirement: Balances are reserved in conjunction with the issuance of County Water and Sewer, Marco Water and Sewer, Goodland Water and Pelican Bay Services Division revenue bond issues. They have been funded by initial deposits from the bond proceeds and by transfers from the operating accounts of the appropriate funds. The use of monies in the sinking fund is restricted to the payment of principal and interest on long-term debt. .., Enterprise Funds-Reserved for Renewal and Replacement: Balances are reserved in conjunction with the issuance of County Water and Sewer and Marco Water and Sewer and Pelican Bay Services Division revenue bond issues. They are funded by transfers from the operating accounts of the appropriate funds. The use of monies in the renewal and replacement fund is restricted to funding the cost of extensions, enlargements and additions to, replacement or major repair of capital assets. Enterprise Funds - Reserved for Landfill Closure: Balances are reserved to meet the landfill closure financial assurance requirements of the Florida Department of Environmental Protection. Enterprise Funds - Unreserved: Balances are not reserved for specific purposes. Internal Service Funds - Unreserved: Balances are not reserved for specific purposes. Fund Balances Reserved Reserved for Encumbrances: Balances are segregated for expenditure upon vendor performance. Reserved for Inventory: Balances represent items which are not considered available and spendable resources. Reserved for Prepaid Costs: Balances represent insurance, travel and other expenses paid in advance and which are not considered available and spendable resources. Reserved for Debt Service: Balances represent monies legally restricted to the payment of principal and interest on long-term debt. Reserved for Impact Fees: Balances represent affordable housing impact fees deferred by the Board of County Commissioners to be funded by the County in the future. Reserved for Trust Fund Purposes: Balances are reserved as legally mandated or as otherwise stipulated by a donor. Fund Balances Unreserved Designated for Future Capital Outlay: Balances are designated for capital project expenditures. Designated for Debt Service: Balances are designated for the payment of principal and interest on long-term debt. Undesignated: Balances are not designated for specific purposes. 43 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 20 - RISK MANAGEMENT County Self-Insurance The County is exposed to various risks of loss related to tort: theft of, damage to and destruction of assets; errors and omissions; and natural disasters. A self-insurance internal service fund is maintained by the County to administer insurance activities relating to worker's compensation, health and property/casualty. Under these programs, the self-insurance fund provides coverage for up to a maximum of: Property damage claims $100,000 each Auto liability claims $ 50,000 each Employee health claims $125,000 each Worker's compensation claims $150,000 each The County purchases commercial insurance for claims in excess of coverage provided by the self-insurance fund and for all other covered risks of loss. The aggregate loss exposure on property/casualty claims is $545,000. Settled claims have not exceeded the insurance provided by third party carriers in any of the past three years. All divisions of the County, excluding the Sheriff, participate in this program. Charges to operating departments are based upon amounts believed by management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the programs. For the fiscal year ended September 30, 1994,the operating departments were charged approximately$9,255,000 for workers' compensation, health and property/casualty self- - insurance programs. The claims loss reserve for workers' compensation, health and property/casualty of $5,282,943 reported at September 30, 1994 was calculated by third-party actuaries based upon GASB Statement 10, "Accounting and Financial Reporting for Risk Financing and Related Insurance Issues", which requires that a liability for claims be reported when it is probable that a loss has been incurred and the amount of that loss can be reasonably estimated. The estimated liabilities for unpaid losses related to workers' compensation and property/casualty were discounted at 5% and 4.5% respectively. Changes in the claims liability amount for fiscal year 1993 and 1994 were as follows: Property/ Group Workers' Casualty Health Compensation Total Balance as of October 1, 1992 $ 169,317 $ 1,250,000 $ 3,150,000 $ 4,569,317 Current year claims and changes in estimates 954,266 7,846,431 1,381,423 10,182,120 Claim payments (388,597) (7,790,431) (1,020,423) (9,199,451) Balance as of September 30, 1993 734,986 1,306,000 3,511,000 5,551,986 Current year claims and changes in estimates 670,680 4,845,971 1,227,832 6,744,483 Claim payments (453,723) (5,345,971) (1,213,832) (7,013,526) Balance as of September 30, 1994 $ 951,943 $ 806,000 $ 3,525,000 $ 5,282,943 44 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 20 -RISK MANAGEMENT-CONTINUED Sheriff's Self-Insurance The Sheriff participates in the State-wide Florida Sheriff's Self-Insurance Fund for its professional liability insurance. The Fund is managed by representatives of the participating Sheriff offices and provides professional liability insurance to participating Sheriff agencies. The Florida Sheriff's Self-Insurance Fund provides liability insurance coverage subject to the following limitations, $2,100,000 for any claim involving a single individual, $2,300,000 ultimate net loss per Sheriff during any policy period. Effective January 1, 1994, the Sheriff elected to participate in the Florida Sheriff's Self-Insurance Fund program for workers' compensation coverage. The Florida Sheriff's Association Worker's Compensation Insurance Trust (FSAWIT) is a limited self-insurance fund providing coverage for the first $300,000 of every claim. Re-insurance is provided through a third-party insurer for all claims exceeding $300,000 up to $2,000,000. Prior to this date the Sheriff was a participant in the county-wide self-insurance internal service fund maintained by the Collier County Board of County Commissioners to administer these insurance activities. Premiums charged to participating Sheriffs are based upon amounts believed by Fund management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the program. For the fiscal year ended September 30, 1994, the Sheriff was charged approximately $4,426,000 for the self-insurance program. Coverage is provided on an occurrence basis. Also effective January 1, 1994,the Sheriff established a self-funded employee health plan. An Internal Service Fund was established to account for the activities of the plan. Excess coverage has been purchased which provides specific claim excess coverage for any one incident exceeding$125,000 to$1,000,000 and aggregate limits excess coverage of$1,000,000 for total claims paid by the Sheriff, which exceeds $2,843,566 for any coverage year. OMR NOTE 21 - RECOGNffiON OF LANDFILL CLOSURE AND POSTCLOSURE COST State and federal laws require that Collier County place a final cover on its Naples and Immokalee landfill sites when they stop accepting waste and that these sites be monitored for thirty years after closure. Although closure and postclosure care costs will be paid only near or after the date that the landfill stops accepting waste, the County reports a portion of these costs as an operating expense in each period based on landfill capacity used as of the balance sheet date. The current cost of landfill care, including equipment, facilities, final cover and thirty years of maintenance and monitoring services is $7,929,182. This amount is based on what it would cost to perform all closure and postclosure care in 1994. The$2,214,653 deferred landfill closure liability reported at September 30, 1994 represents $4,077,107 closure costs based on 51%of landfill capacity used to date and is net of$1,862,454 in closure payments made during the current fiscal year. Of the$1,014,893 net reduction made to the County's deferred landfill closure liability, an increase of$871,022 is applicable to current year capacity used and has been included as an operating expense of this period while a decrease of $1,885,915 is applicable to prior years and appears as a prior period adjustment as required by GASB Statement 18, "Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care Costs". Closure and postclosure costs of $3,852,075 remain to be recognized in the estimated 16.7 years of remaining useful landfill life. The County is required by state and federal laws to make annual contributions to an escrow account to meet financial assurance requirements. The County is in compliance with these requirements at September 30, 1994 with restricted cash and investments of $3,678,276 held for this purpose. In the event that the annual escrow —' contributions and interest earnings prove to be inadequate due to inflation, changes in technology or additional closure and postclosure requirements, these costs may need to be covered by charges to future landfill users or from future tax revenue. -- 45 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 22 - EQUITY TRANSFERS During the year, cash in the amount of$81,955 was transferred from the General Fund to the Airport Authority Fund. This money represented the initial funding source for the establishment of the Airport Authority enterprise fund as approved by the Board of County Commissioners on June 21, 1994. As required by National Council on Governmental Accounting (NCGA) Statement 1, the residual equity transfer in is shown as a contribution to the Airport Authority fund. At the beginning of the fiscal year, the Museum Fund was collapsed into the General Fund which resulted in a residual equity transfer of$7,723. On August 15, 1994, the Board of County Commissioners approved a transfer of$1,200,000 from the Pelican Bay Water and Sewer Utility Fund to the Pelican Bay MSTUBU Fund and the Pelican Bay Agency Fund. The Pelican Bay MSTUBU Fund received a $638,600 residual equity transfer to establish a reserve for future capital outlay. The Pelican Bay Agency Fund received a $561,400 infusion of cash for the purpose of retiring the $3,590,000 Water Management Special Assessment Bonds. This residual equity transfer was recorded as a liability due to bond holders in accordance with GASB standards which state that agency funds cannot have fund equity, only assets offset by liabilities of an equal amount. A residual equity transfer in the amount of $43,591 was made from the Road Construction - Gas Tax Fund to the Private Industry Council Fund to eliminate a deficit balance in the grant fund. The deficit resulted from the write off of an uncollectible receivable. The proceeds from the anticipated receivable had been advanced to the construction fund in prior years. At the beginning of the year, the Willoughby Acres project was deemed complete and the fund was closed through a residual equity transfer of $4,198 to the Euclid and Lakeland debt service fund. The balance transferred represented unspent construction proceeds, which were used, in accordance with the bond documents, to retire debt associated with the finished project. The Data Processing and Records Management Funds were closed into the Clerk of Courts General Fund through residual equity transfers of $788,748 and $28,134 respectively. Only the assets representing expendable financial resources and the liabilities payable from those resources were recorded as a residual equity transfer into the General Fund. In accordance with GASB standards,the fixed assets and associated contributed capital, as well as the long-term obligations were not recorded in the General Fund. The fixed assets of the Internal Service Funds, which totalled $615,497 were transferred to the General Fixed Assets Account Group with $130,560 contributed capital as an investment in those assets. Accrued compensated absences of$38,189 were transferred to the General Long-Term Debt Account Group. 46 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 23- DISCLOSURE OF SIGNIFICANT CONTINGENCIES LITIGATION The County is involved in certain litigation and claims as defendant or plaintiff arising in the ordinary course of -- operations. In the opinion of the legal counsel,the range of potential recoveries or liabilities will not materially affect the financial position of the County. As allowable under Florida Statutes, Chapter 125.0104, "Local Option Tourist Development Act"the Board levied a three percent (3%) Tourist Development Tax by approving Ordinance No. 90-43. The Tax was levied to fund the Collier County Tourist Development Plan. The Tax became effective November 1, 1990, however, during July 1990 the legality of the Tax was challenged. The County was successful in all Circuit Court proceedings but during October 1991,the Second District Court of Appeals overturned the lower court and ruled that the ordinance had not been enacted with certain required formalities and declared the taxing ordinance invalid. The County appealed the the District Court's decision and in April 1994, the District Court of Appeals issued a ruling in favor of the County retaining the funds. The Supreme Court of Florida upheld this appellate determination. The plaintiff taxpayers entered another appeal at the United States Supreme Court level. The petition for a writ of certiorari was denied on February 21, 1995. As of September 30, 1994, prior to the Court of Appeal's ruling, the County had collected approximately $5,116,000 which was being held in a special revenue fund. STATE AND FEDERAL GRANTS Grant monies received and disbursed by the County are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience,the County does not believe that such disallowances, if any, would have a material effect on the financial position of the County. NOTE 24 - DISCLOSURE OF SIGNIFICANT COMMITMENTS CONSTRUCTION COMMITMENTS Expended as of Project September 30, Authorization 1994 Committed Parks $ 3,305,604 $ 2,018,984 $ 1,286,620 Roads 24,590,910 18,915,679 5,675,231 Utilities 52,145,650 37,809,178 14,336,472 Landfill expansion and closure 3,127,695 2,043,064 1,084,631 Buildings 5,524,013 2,939,718 2,584,295 Beautification 574,918 433,281 141,637 Beach Restoration 3,363,355 2,254,083 1,109,272 Total $ 92,632,145 $ 66,413,987 $ 26,218,158 47 COLLIER COUNTY, FLORIDA NOTES TO THE GENERAL PURPOSE FINANCIAL STATEMENTS SEPTEMBER 30, 1994 NOTE 24- DISCLOSURE OF SIGNIFICANT COMMITMENTS -CONTINUED ROAD IMPACT FEE AGREEMENT In the past, the County has acquired right-of-ways and received road construction services from various developers in exchange for impact fee credits. Amounts granted for impact fee credits were based on the market value at the time the property,improvement or services were received. The developers,their successors or assignees may utilize the road impact fee credits for future development activities. No time limits are set for use of the credits. As the credits are consumed, impact fee revenue is recognized. At September 30, 1994,the County had outstanding road impact fee agreements, with developers, of approximately$788,000. NOTE 25-SUBSEQUENT EVENTS COMMERCIAL PAPER ISSUED On December 8, 1994, Collier County approved and executed a short term borrowing of$2,253,470 from the Florida Local Government Finance Commission Pooled Commercial Paper Program. The loan is secured by the County's unpledged non-ad valorem revenues. The proceeds of the loan will be used to complete various capital improvements at the Immokalee and Everglades Airports. Principal will be paid back in two annual installments of $1,126,735 commencing on December 5, 1995 and interest will be paid monthly based on a variable rate formula beginning January 1, 1995. The debt service payments will be made from pre-qualified grants, an EDA grant and funds from the Immokalee Water and Sewer District. On February 14, 1995, Collier County authorized the use of the Florida Local Government Finance Commission Pooled Commercial Paper Program in the amount of $8,000,023 to finance an 800 megahertz intergovernmental radio system. The County's unpledged non-ad valorem revenues will secure the note when executed. EARLY REDEMPTION OF BONDS The 1990 Collier County Water and Sewer District Sewer Assessment Bonds are subject to an optional redemption without premium, in whole or in part on any interest payment date, commencing October 1, 1992 from moneys, which may include surplus revenues,prepayments of assessments and/or unexpended bond proceeds. On October 1, 1994 the County called $1,070,000 of the outstanding bonds. The 1988 Marco Water and Sewer Special Assessment Bonds are subject to special mandatory redemption without premium, in whole or in part on any interest payment date, commencing May 1, 1989 from moneys which may include surplus revenues, prepayments of assessments and/or unexpended bond proceeds. On November 1, 1994 the County called $210,000 of the outstanding bonds. The 1993 Pine Ridge Industrial Park and Naples Production Park Special Assessment Bonds are subject to extraordinary redemption without premium, in whole or in part on any interest payment date, commencing May 1, 1994 from moneys, which may include surplus revenues, prepayments of assessments and/or unexpended bond proceeds. On November 1, 1994 the County called $395,000 of the outstanding bonds. PRIVATIZATION OF COUNTY LANDFILL OPERATIONS On February 7, 1995, Collier County approved an agreement for the solid waste disposal facilities at the Naples Landfill and the Immokalee Landfill to be operated by a private contractor. Operation of these sites includes gas management, odor control, water monitoring and facilities management. 48 THIS PAGE INTENTIONALLY LEFT BLANK -• GENERAL FUND GENERAL FUND THE PRIMARY PURPOSE OF THE GENERAL FUND IS TO ACCOUNT FOR ALL OF THE COUNTY'S OPERATING REVENUE AND OTHER FINANCIAL RESOURCES AND THEIR USES IN CONDUCTING THE GENERAL OPERATIONS OF THE COUNTY, EXCEPT FOR THOSE RESOURCES REQUIRED TO BE ACCOUNTED FOR IN ANOTHER FUND. _ THE GENERAL FUND HAS A GREATER NUMBER AND VARIETY OF REVENUE SOURCES THAN ANY OTHER FUND, AND ITS RESOURCES FINANCE A WIDER RANGE OF ACTIVITIES. THE RESOURCES OF THE GENERAL FUND ARE NORMALLY EXPENDED AND REPLENISHED ON AN ANNUAL BASIS. COLLIER COUNTY,FLORIDA SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE -- BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Variance Favorable Budget Actual (Unfavorable) Revenues: • Taxes $ 56,598,700$ 54,547,816$ (2,050,884) Licenses and permits 90,700 89,689 (1,011) Intergovernmental 13,314,984 16,067,113 2,752,129 Charges for services 9,595,026 9,270,593 (324,433) Fines and forfeitures 3,399,000 2,834,202 (564,798) -. Interest income 562,000 1,321,898 759,898 Miscellaneous 2,989,738 3,100,394 110,656 Total revenues 86,550,148 87,231,705 681,557 - Expenditures: General government Legislative Board of County Commissioners 446,800 433,426 13,374 - Executive County manager admininistrative 427,731 425,061 2,670 Financial and administrative Budget and management 365,502 348,956 16,546 Administrative services 528,200 509,564 18,636 Human resources administration 382,619 374,855 7,764 Clerk to the board 3,381,000 2,968,812 412,188 Property appraiser 3,117,331 3,100,026 17,305 Tax collector 3,714,612 3,754,892 (40,280) Legal counsel County attorney 1,328,458 1,178,456 150,002 Comprehensive planning Natural resources 482,600 460,130 22,470 Judicial Court related programs 301,517 278,615 22,902 Circuit court costs 1,165,854 892,230 273,623 ..., Courtroom operations&maintenance 1,136,775 1,063,685 73,090 County court cost 242,000 174,119 67,881 State attorney 199,697 193,940 5,757 --. Public defender 166,645 128,706 37,939 Clerk to the courts 4,172,900 3,704,006 468,894 Court reporting/recording Court reporting 144,600 140,965 3,635 Other general government Other general administrative 1,199,574 804,690 394,884 Office of capital projects 2,894,300 2,571,405 322,896 Facilities management 2,571,057 2,532,947 38,110 -- Supervisor of elections 1,119,700 877,862 241,838 Real property management 558,897 522,371 36,526 Total general government 30,048,371 27,439,721 2,608,650 - (CONTINUED) COLLIER COUNTY,FLORIDA SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL GENERAL FUND-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Variance Favorable Budget Actual (Unfavorable) Public safety Law enforcement Sheriff 29,629,204 28,200,320 1,428,884 Detention and/or correction Parole and probation 840,800 762,641 78,160 Sheriff 10,785,400 10,556,397 229,003 Emergency and disaster rescue services Emergency management administration 642,436 532,607 109,829 Ambulance and rescue services Immokalee medical assistance 386,843 277,268 109,575 Helicopter 450,300 418,579 31,721 Medical examiner Medical examiner services 397,700 396,754 946 Total public safety 43,132,683 41,144,565 1,988,118 Physical environment Conservation and resource management Agriculture administration 836,833 699,812 137,021 Aquatic Plant Control 768,208 710,112 58,096 Other physical environment Immokalee cemetery 21,545 17,188 4,357 Environmental services 145,800 139,758 6,042 Office of Capital Projects 141,000 141,000 - Total physical environment 1,913,386 1,707,871 205,515 Economic environment - Employee assistance 10,000 10,000 - Veterans services 161,500 149,311 12,189 171,500 159,311 12,189 Human services Hospitals Health care responsibility act 89,000 59,701 29,299 Health Animal control 461,700 414,620 47,080 Health department 1,091,538 1,091,098 440 Mental health Mental health 670,300 669,333 967 Welfare Client assistance 2,327,662 2,293,822 33,840 Other human services Public services division office 143,000 138,352 4,648 Total human services 4,783,200 4,666,926 116,274 (CONTINUED) 49 COLLIER COUNTY,FLORIDA SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE— BUDGET TO ACTUAL BUDGET(NON—GAAP BUDGETARY BASIS)AND ACTUAL GENERAL FUND—CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 -- Variance Favorable Budget Actual (Unfavorable) '^ Culture and recreation Libraries Library administration 2,072,309 2,018,910 53,399 Outreach services 29,600 27,643 1,957 Parks and recreation activities Parks and recreation administration 2,874,717 2,658,372 216,344 Recreation programs 1,055,291 1,000,596 54,695 Aquatic Facilities 444,300 368,540 75,760 Museum 258,196 256,197 1,999 Other culture and recreation County forester 3,000 3,000 — Total culture and recreation 6,737,412 6,333,259 404,153 Total expenditures 86,786,552 81,451,653 5,334,899 -- Excess of revenues over(under)expenditures (236,404) 5,780,051 6,016,455 Other financing sources(uses): Operating transfers in 10,580,880 10,970,861 389,981 Operating transfers out (14,792,349) (14,633,576) 158,773 ., Total other financing sources(uses) (4,211,469) (3,662,715) 548,754 Excess of revenues and other sources over(under)expenditures and other uses (4,447,873) 2,117,336 6,565,209 Fund balance at beginning of year 15,967,962 15,967,962 — Residual equity transfer in — 377,857 377,857 ^ Residual equity transfer out — (81,955) (81,955) Fund balance at end of year $ 11,520,089$ 18,381,200$ 6,861,111 50 -- SPECIAL REVENUE FUNDS ROAD DISTRICTS-TO ACCOUNT FOR TAXES LEVIED AND EXPENDITURES TO CARRY ON ALL WORK ON ROADS AND BRIDGES IN THE COUNTY EXCEPT THAT PROVIDED FOR IN CAPITAL PROJECTS FUNDS. WATER MANAGEMENT AND POLLUTION CONTROL -TO ACCOUNT FOR TAXES LEVIED COUNTY- WIDE TO PROVIDE WATER RESOURCE MANAGEMENT AND WATER POLLUTION CONTROL. UNINCORPORATED AREAS-TO ACCOUNT FOR REVENUES DERIVED FROM AND EXPENDED FOR THE BENEFIT OF THE UNINCORPORATED AREAS OF THE COUNTY. GRANTS AND SHARED REVENUES-TO ACCOUNT FOR THE REVENUES RECEIVED FROM FEDERAL, STATE AND LOCAL GRANTS. "- IMPROVEMENT DISTRICTS-TO ACCOUNT FOR TAXES LEVIED WITHIN MUNICIPAL SERVICE TAXING DISTRICTS TO PROVIDE FOR SPECIFIED IMPROVEMENTS AND/OR THE MAINTENANCE OF SUCH IMPROVEMENTS. FIRE CONTROL DISTRICTS-TO ACCOUNT FOR TAXES LEVIED WITHIN MUNICIPAL SERVICE TAXING DISTRICTS FOR FIRE PREVENTION AND CONTROL. MISCELLANEOUS FLORIDA STATUTES FEE COLLECTIONS-TO ACCOUNT FOR FEES COLLECTED FOR STATUTORY PURPOSES. - LIGHTING DISTRICTS - TO ACCOUNT FOR TAXES LEVIED WITHIN MUNICIPAL SERVICE TAXING DISTRICTS FOR STREET LIGHTING. 911 ENHANCEMENT FEE -TO ACCOUNT FOR FEES LEVIED ON EACH TELEPHONE ACCESS LINE IN THE COUNTY FOR THE ENHANCEMENT OF THE 911 EMERGENCY TELEPHONE SYSTEM. MUSEUM -TO ACCOUNT FOR REVENUES AND EXPENDITURES RECEIVED AT THE MUSEUM PUBLIC RECORDS MODERNIZATION - TO ACCOUNT FOR THE STATUTORY SURCHARGE ON RECORDING DOCUMENTS TO BE PAID TO THE CLERK OF THE CIRCUIT COURT FOR THE MODERNIZATION OF THE CLERK'S OFFICIAL RECORDS MANAGEMENT SYSTEM. TOURIST DEVELOPMENT-TO ACCOUNT FOR THE TOURIST DEVELOPMENT TAX. STATE HOUSING INCENTIVE PARTNERSHIP-TO ACCOUNT FOR STATE REVENUES RECEIVED TO PROVIDE AFFORDABLE RESIDENTIAL HOUSING FOR VERY LOW TO MODERATE INCOME PERSONS AND THOSE WHO HAVE SPECIAL HOUSING NEEDS. 800 MHZ IRCP FUND ACCOUNT-TO ACCOUNT FOR MOVING TRAFFIC VIOLATION SURCHARGES RECEIVED TO FUND THE COUNTY'S INTERGOVERNMENTAL RADIO COMMUNICATIONS PROGRAM. COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET - ALL SPECIAL REVENUE FUNDS SEPTEMBER 30,1994 Water Grants and Road Management and Unincorporated Shared Improvement - Districts Pollution Control Areas Revenues Districts ASSETS Cash and investments $ 3,144,354 $ 2,381,616 $ 5,746,336 $ 149,964$ 1,609,401 Receivables: Interest 23,088 15,449 51,485 424 10,712 Notes - - - 271,100 - Other 70,085 9,469 236,236 2,865 27 - Due from other funds 6,660 23,119 474,632 - 10,746 Due from other governments 1,098,686 27,955 1,929 419,022 - Prepaid cost - - 1,500 - - Total assets $ 4,342,873 $ 2,457,608 $ 6,512,118 $ 843,375$ 1,630,886 ^ LIABILITIES AND FUND BALANCES Liabilities: Vouchers payable and accruals $ 119,832 $ 94,985 $ 651,957 $ 179,342 $ 25,492 Due to other funds - - 2,917 59,192 9,200 __ Due to other governments - 29,365 48,927 2,899 - Due to individuals - - - - - Deferred revenues - 818,340 209,186 436,591 - Retainage payable - 26,203 - - 6,148 Total liabilities 119,832 968,893 912,987 678,024 40,840 Fund balances: Reserved for: Encumbrances 26,715 458,131 13,574 272,130 25,488 ^ Prepaid costs - - 1,500 - - Impact fees - - 1,428,532 - - Unreserved: Undesignated 4,196,326 1,030,584 4,155,525 (106,779) 1,564,558 Total fund balances 4,223,041 1,488,715 5,599,131 165,351 1,590,046 Total liabilities ^ and fund balances $ 4,342,873 $ 2,457,608 $ 6,512,118 $ 843,375 $ 1,630,886 Miscellaneous 911 Public Fire Control Florida Statutes Lighting Enhancement Records Districts Fee Collections Districts Fee Museum Modernization $ 176,225$ 96,707 $ 476,965 $ 176,462$ -$ 811,318 - 1,761 664 3,516 1,390 - - _ 25,521 - 501 - - - 5,924 6,348 5,621 - - 52 - $ 209,431 $ 103,719 $ 486,603 $ 177,852 $ - $ 811,370 - $ 25,571 $ - $ 39,663 $ - $ - $ 231,993 - - - 39,228 - - 25,571 - 39,663 39,228 - 231,993 183,860 103,719 446,940 138,624 - 579,377 183,860 103,719 446,940 138,624 - 579,377 $ 209,431 $ 103,719 $ 486,603 $ 177,852 $ - $ 811,370 (CONTINUED) 51 COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET —, ALL SPECIAL REVENUE FUNDS - CONTINUED SEPTEMBER 30,1994 State Housing 800 MHZ Tourist Incentive IRCP Fund _ Development Partnership Account Total ASSETS Cash and investments $ 10,852,512 $ 550,136$ 149,242 $ 26,321,238 Receivables: Interest 73,638 3,263 942 186,332 Notes - - - 271,100 Other - - - 344,704 — Due from other funds 198,507 - 14,946 746,555 Due from other governments - 45,756 - 1,593,348 Prepaid cost - - - 1,500 Total assets $ 11,124,657 $ 599,155$ 165,130 $ 29,464,777 LIABILITIES AND FUND BALANCES Liabilities: Vouchers payable and accruals $ 65,401 $ -$ $ 1,434,236 Due to other funds - - - 110,537 Due to other governments - - - 81,191 Due to individuals 5,115,990 - - 5,115,990 Deferred revenues - - - 1,464,117 Retainage payable - - - 32,351 Total liabilities 5,181,391 - - 8,238,422 Fund balances: Reserved for: Encumbrances 1,309,690 - - 2,105,728 -., Prepaid costs - - - 1,500 Impact fees - - - 1,428,532 Unreserved: Undesignated 4,633,576 599,155 165,130 17,690,595 Total fund balances 5,943,266 599,155 165,130 21,226,355 Total liabilities --, and fund balances $ 11,124,657 $ 599,155$ 165,130$ 29,464,777 52 COLLIER COUNTY,FLORIDA - COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Water Grants and Road Management and Unincorporated Shared Improvement - Districts Pollution Control Areas Revenues Districts Revenues: Taxes $ 5,668,188 $ 617,448$ 8,950,835 $ -$ 1,213,460 - Licenses and permits 14,129 86,643 6,149,459 - - Intergovernmental 1,069,892 1,373,505 1,929 1,340,536 7,000 Charges for services 202,386 169,194 888,989 115 22,443 Fines and forfeitures - - 62,531 - - - Interest income 171,209 125,395 398,341 2,044 85,098 Special assessments - 1,118,186 - - - Miscellaneous 797 - 21,056 43,671 40,100 - Total revenues 7,126,601 3,490,371 16,473,140 1,386,366 1,368,101 Expenditures: - Current: General government - - 1,896,172 202,168 - Public safety - - 5,132,376 370,457 - Physical environment - 3,194,159 17,341 26,386 1,131,057 - Transportation 6,444,013 100,902 123,832 63,000 95,116 Economic environment - - 197,150 61,027 - Human services - - - 782,276 - Culture and recreation - - 593,435 187,647 183,156 Debt Service: Interest and fiscal charges - - - - 2,934 Total expenditures 6,444,013 3,295,061 7,960,306 1,692,961 1,412,263 Excess of revenues over (under)expenditures 682,588 195,310 8,512,834 (306,595) (44,162) Other financing sources(uses): Operating transfers in 6,377 78,829 771,003 199,417 109,075 Operating transfers out (21,074) (124,680) (8,827,853) - (116,595) Total other financing sources uses (14,697) (45,851) (8,056,850) 199,417 (7,520) Excess of revenues and other sources over(under)expen- ditures and other uses 667,891 149,459 455,984 (107,178) (51,682) Fund balances at beginning of year 3,555,150 700,656 5,143,147 228,938 1,645,926 Residual equity transfers in - 638,600 - 43,591 - Residual equity transfers out - - - - (4,198) Fund balances at end of year $ 4,223,041 $ 1,488.715 $ 5.599,131 $ 165.351 $ 1,590,046 - (CONTINUED) 53 1 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES ALL SPECIAL REVENUE FUNDS -CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Miscellaneous 911 Fire Control Florida Statutes Lighting Enhancement Districts Fee Collections Districts Fee Museum - Revenues: Taxes $ 613,467 $ -$ 646,891 $ 437,017$ - Licenses and permits - - - - - Intergovernmental 600 - - - - Charges for services 5,208 21,180 - - - Fines and forfeitures - 6,620 - - - Interest income 18,026 4,376 33,025 8,244 - Special assessments - - - - - Miscellaneous 4,321 20,000 - - - Total revenues 641,622 52,176 679,916 445,261 - Expenditures: Current: General government - 10,085 - - - Public safety 1,066,742 - - 390,428 - Physical environment - - - - - Transportation - - 755,560 - - Economic environment - - - - - Human services - - - - - Culture and recreation - - - - - Debt Service: Interest and fiscal charges - - - - - Total expenditures 1,066,742 10,085 755,560 390,428 - Excess of revenues over ""' (under)expenditures (425,120) 42,091 (75,644) 54,833 - Other financing sources(uses): Operating transfers in 545,845 4,040 5,548 - - Operating transfers out (124,501) - (24,044) - - Total other financing sources(uses) 421,344 4,040 (18,496) - - "' Excess of revenues and other sources over(under)expen- ditures and other uses (3,776) 46,131 (94,140) 54,833 - Fund balances at beginning of year 187,636 57,588 541,080 83,791 7,723 Residual equity transfers in - - - - - .. Residual equity transfers out - - - - (7,723) Fund balances at end of year $ 183,860 $ 103,719$ 446,940 $ 138,624$ - Public State Housing 800 MHZ Records Tourist Incentive !RCP Fund - Modernization Development Partnership Account Total $ - $ 3,916,036 $ -$ - $ 22,063,342 - - - - - 6,250,231 - - 365,201 - 4,158,663 176,381 39 - 165,391 1,651,326 - - - - 69,151 -- - 485,660 22,985 3,875 1,358,278 - - - - 1,118,186 30,411 - - - 160,356 - 206,792 4,401,735 388,186 169,266 36,829,533 334,278 - - - 2,442,703 - - - 4,136 6,964,139 - 743,954 - - 5,112,897 - - - - 7,582,423 - - - - 258,177 - - 113,761 - 896,037 - 613,581 - - 1,577,819 - - - - 2,934 334,278 1,357,535 113,761 4,136 24,837,129 (127,486) 3,044,200 274,425 165,130 11,992,404 - 45,848 - - 1,765,982 - (215,983) - - (9,454,730) - - (170,135) - - (7,688,748) - (127,486) 2,874,065 274,425 165,130 4,303,656 706,863 3,069,201 324,730 - 16,252,429 - - - - 682,191 - - - - (11,921) $ 579,377 $ 5,943,266 $ 599,155 $ 165.130 $ 21,226,355 - - 54 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Road Districts Water Management and Pollution Control Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ 5,369,700$ 5,668,188 $ 298,488$ 640,500 $ 617,448$ (23,052) Ucensesand permits - 14,129 14,129 104,680 86,643 (18,037) Intergovernmental 1,061,000 1,069,892 8,892 1,721,617 1,373,505 (348,112) Charges for services 52,850 202,386 149,536 138,300 169,194 30,894 Fines and forfeitures - - - - - - Interest income 76,100 171,209 95,109 71,300 125,395 54,095 Special assessments - - - 1,162,800 1,118,186 (44,614) •. Miscellaneous - 797 797 - - - Total revenues 6,559,650 7,126,601 566,951 3,839,197 3,490,371 (348,826) Expenditures: Current: General government - - - - - - Public safety - - - - - - Physical environment - - - 4,608,603 3,194,159 1,414,444 Transportation 7,536,562 6,444,013 1,092,549 119,746 100,902 18,844 Economic environment - - - - - - Human services - - - - - - Culture and recreation - - - - - - Debt Service: Interest and fiscal charges - - - 2,300 - 2,300 Total expenditures 7,536,562 6,444,013 1,092,549 4,730,649 3,295,061 1,435,588 Excess of revenues over (under)expenditures (976,912) 682,588 1,659,500 (891,452) 195,310 1,086,762 Other financing sources(uses): Operating transfers in - 6,377 6,377 55,950 78,829 22,879 Operating transfers out (22,300) (21,074) 1,226 (148,857) (124,680) 24,177 Total other financing sources(uses) (22,300) (14,697) 7,603 (92,907) (45,851) 47,056 .•. Excess of revenues and other sources over(under)expen- ditures and other uses (999,212) 667,891 1,667,103 (984,359) 149,459 1,133,818 Fund balances at beginning of year 3,555,150 3,555,150 - 700,656 700,656 - Residual equity transfers in - - - - 638,600 638,600 Residual equity transfers out - - - - - - Fund balances at end of year $ 2,555,938$ 4,223,041 $ 1,667,103$ (283,703)$ 1,488,715$ 1,772,418 Unincorporated Areas Grants and Shared Revenues - Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 8,990,300 $ 8,950,835 $ (39,465)$ - $ - $ - 5,582,900 6,149,459 566,559 - - - - 200 1,929 1,729 2,335,074 1,340,536 (994,538) 816,900 888,989 72,089 - 115 115 88,000 62,531 (25,469) - - - 146,800 398,341 251,541 1,700 2,044 344 51,400 21,056 (30,344) 10,816 43,671 32,855 15,676,500 16,473,140 796,640 2,347,590 1,386,366 (961,224) - - 2,309,240 1,896,172 413,068 615,954 202,168 413,786 5,764,912 5,132,376 632,536 489,405 370,457 118,948 32,441 17,341 15,100 87,000 26,386 60,614 157.700 123,832 33,868 63,000 63,000 - 216,003 197,150 18,853 71,273 61,027 10,246 - - - 1,284,795 782,276 502,519 654,053 593,435 60,618 187,267 187,647 (380) 9,134,349 7,960,306 1,174,043 2,798,694 1,692,961 1,105,733 6,542,151 8,512,834 1,970,683 (451,104) (306,595) 144,509 343,400 771,003 427,603 290,271 199,417 (90,854) (8,842,364) (8,827,853) 14,511 - - - - (8,498,964) (8,056,850) 442,114 290,271 199,417 (90,854) -- (1,956,813) 455,984 2,412,797 (160,833) (107,178) 53,655 5,143,147 5,143,147 - 228,938 228,938 - - - - - - 43,591 43,591 $ 3,186,334 $ 5,599,131 $ 2,412,797 $ 68,105 $ 165,351 $ 97,246 - (CONTINUED) 55 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER30,1994 Improvement Districts Fire Control Districts Variance Variance "" Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ 1,261,200$ 1,213,460 $ (47,740)$ 631,700 $ 613,467$ (18,233) Licenses and permits - - - - - - Intergovernmental 6,000 7,000 1,000 600 600 - Charges for services 24,800 22,443 (2,357) 500 5,208 4,708 Fines and forfeitures - - - - - - Interest income 25,600 85,098 59,498 7,800 18,026 10,226 Special assessments - - - - - - Miscellaneous 5,700 40,100 34,400 4,400 4,321 (79) Total revenues 1,323,300 1,368,101 44,801 645,000 641,622 (3,378) Expenditures: Current: General government - - - - - - Public safety - - - 1,106,471 1,066,742 39,729 Physical environment 1,646,497 1,131,057 515,440 - - - Transportation 122,520 95,116 27,404 - - - Economic environment - - - - - - Human services - - - - - - Culture and recreation 271,402 183,156 88,246 - - - Debt Service: Interest and fiscal charges 3,500 2,934 566 - - - Total expenditures 2,043,919 1,412,263 631,656 1,106,471 1,066,742 39,729 Excess of revenues over MIMI (under)expenditures (720,619) (44,162) 676,457 (461,471) (425,120) 36,351 Other financing sources(uses): ... Operating transfers in 98,500 109,075 10,575 540,300 545,845 5,545 Operating transfers out (128,321) (116,595) 11,726 (129,184) (124,501) 4,683 Total other financing sources(uses) (29,821) (7,520) 22,301 411,116 421,344 10,228 Excess of revenues and other sources over(under)expen- ditures and other uses (750,440) (51,682) 698,758 (50,355) (3,776) 46,579 Fund balances at beginning of year 1,645,926 1,645,926 - 187,636 187,636 - Residual equity transfers in - - - - - - Residual equity transfers out - (4,198) (4,198) - - - ... Fund balances at end of year $ 895,486$ 1,590,046 $ 694,560$ 137,281 $ 183,860$ 46,579 .r Miscellaneous Florida Statutes Fee Collections Lighting Districts Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ - $ - $ - $ 668,300 $ 646,891 $ (21,409) 22,500 21,180 (1,320) - - - - 6,620 6,620 - - - - 4,376 4,376 18,700 33,025 14,325 22,000 20,000 (2,000) - - - 44,500 52,176 7,676 687,000 679,916 (7,084) 65,200 10,085 55,115 - - - - - - 936,358 755,560 180,798 - 65,200 10,085 55,115 936,358 755,560 180,798 (20,700) 42,091 62,791 (249,358) (75,644) 173,714 - 4,040 4,040 - 5,548 5,548 - - - (39,825) (24,044) 15,781 - - 4,040 4,040 (39,825) (18,496) 21,329 - (20,700) 46,131 66,831 (289,183) (94,140) 195,043 57,588 57,588 - 541,080 541,080 - $ 36,888 $ 103,719 $ 66,831 $ 251,897 $ 446,940 $ 195,043 (CONTINUED) 56 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 911 Enhancement Fee Public Records Modernization Variance Variance - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ 415,000$ 437,017 $ 22,017$ - $ - $ - Licenses and permits - - - - - - Intergovernmental - - - - - - -... Charges for services - - - 159,200 176,381 17,181 Fines and forfeitures - - - - - - Interest income 2,500 8,244 5,744 - - - Special assessments - - - - - - Miscellaneous - - - 18,000 30,411 12,411 Total revenues 417,500 445,261 27,761 177,200 206,792 29,592 Expenditures: Current: General government - - - 866,800 334,278 532,522 Public safety 410,500 390,428 20,072 - - - Physical environment - - - - - - Transportation - - - - - - Economic environment - - - - - - Human services - - - - - - Culture and recreation - - - - - - Debt Service: - Interest and fiscal charges - - - - - - Total expenditures 410,500 390,428 20,072 866,800 334,278 532,522 Excess of revenues over (under)expenditures 7,000 54,833 47,833 (689,600) (127,486) 562,114 Other financing sources(uses): Operating transfers in - - - - - - Operating transfers out - - - - - - Total other financing sources(uses) - - - - - - Excess of revenues and other sources over(under)expen- ditures and other uses 7,000 54,833 47,833 (689,600) (127,486) 562,114 Fund balances at beginning of year 83,791 83,791 - 706,863 706,863 - Residual equity transfers in - - - - - - Residual equity transfers out - - - - - - Fund balances at end of year $ 90,791 $ 138,624 $ 47,833$ 17,263 $ 579,377 $ 562,114 Tourist Development State Housing Incentive Partnership Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 2,500,000 $ 3,916,036 $ 1,416,036 $ - $ - $ - - - - 112,780 365,201 252,421 - 39 39 - - - 253,200 485,660 232,460 - 22,985 22,985 2,753,200 4,401,735 1,648,535 112,780 388,186 275,406 2,714,065 743,954 1,970,111 - - - - - - 217,780 113,761 104,019 1,058,494 613,581 444,913 - - - 3,772,559 1,357,535 2,415,024 217,780 113,761 104,019 (1,019,359) 3,044,200 4,063,559 (105,000) 274,425 379,425 - 45,848 45,848 - - - (222,500) (215,983) 6,517 - - - - (222,500) (170,135) 52,365 - - - (1,241,859) 2,874,065 4,115,924 (105,000) 274,425 379,425 3,069,201 3,069,201 - 324,730 324,730 - $ 1,827,342 $ 5,943,266 $ 4,115,924 $ 219,730 $ 599,155 $ 379,425 .-. (CONTINUED) 57 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL ALL SPECIAL REVENUE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 800 MHZ IRCP Fund Account Total Variance Variance - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ -$ -$ -$ 20,476,700 $ 22,063,342$ 1,586,642 Licenses and permits - - - 5,687,580 6,250,231 562,651 Intergovernmental - - - 5,237,271 4,158,663 (1,078,608) Charges for services 120,000 165,391 45,391 1,335,050 1,651,326 316,276 Fines and forfeitures - - - 88,000 69,151 (18,849) Interest income - 3,875 3,875 603,700 1,358,278 754,578 Special assessments - - - 1,162,800 1,118,186 (44,614) ... Miscellaneous - - - 112,316 160,356 48,040 Total revenues 120,000 169,266 49,266 34,703,417 36,829,533 2,126,116 Expenditures: Current: General government - - - 3,857,194 2,442,703 1,414,491 .,.. Public safety 16,285 4,136 12,149 7,787,573 6,964,139 823,434 Physical environment - - - 9,088,606 5,112,897 3,975,709 Transportation - - - 8,935,886 7,582,423 1,353,463 Economic environment - - - 287,276 258,177 29,099 Human services - - - 1,502,575 896,037 606,538 Culture and recreation - - - 2,171,216 1,577,819 593,397 Debt Service: Interest and fiscal charges - - - 5,800 2,934 2,866 .,,,, Total expenditures 16,285 4,136 12,149 33,636,126 24,837,129 8,798,997 Excess of revenues over (under)expenditures 103,715 165,130 61,415 1,067,291 11,992,404 10,925,113 Other financing sources(uses): Operating transfers in - - - 1,328,421 1,765,982 437,561 Operating transfers out - - - (9,533,351) (9,454,730) 78,621 Total other financing sources(uses) - - - (8,204,930) (7,688,748) 516,182 Excess of revenues and other sources over(under)expen- ditures and other uses 103,715 165,130 61,415 (7,137,639) 4,303,656 11,441,295 Fund balances at beginning of year - - - 16,244,706 16,244,706 - Residual equity transfers in - - - - 682,191 682,191 Residual equity transfers out - - - - (4,198) (4,198) Fund balances at end of year $ 103,715$ 165,130$ 61,415$ 9,107,067 $ 21,226,355$ 12,119,288 58 , DEBT SERVICE FUNDS GOLDEN GATE GENERAL OBLIGATION BONDS - TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED IN THE CONSTRUCTION OF THE GOLDEN GATE COMMUNITY CENTER. PARKS GENERAL OBLIGATION REFUNDING BONDS-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED IN THE REFUNDING OF THE 1982 PARKS GENERAL OBLIGATION BONDS. RACE TRACK REVENUE CERTIFICATES-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT OF CERTAIN CAPITAL PROJECTS INCLUDING THE EXPANSION OF THE COLLIER GOVERNMENT CENTER. GUARANTEED ENTITLEMENT REVENUE BONDS - TO ACCOUNT FOR THE ACCUMULATION OF _ RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT OF CERTAIN CAPITAL PROJECTS INCLUDING A NEW POTABLE WATER SUPPLY. GAS TAX REVENUE REFUNDING BONDS-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED FOR ROAD CONSTRUCTION AND IMPROVEMENTS, AND THE PARTIAL REFUNDING OF THE 1980 GAS TAX REVENUE BONDS. MARCO ISLAND UMITED GENERAL OBLIGATION BONDS -TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED FOR BEACH RENOURISHMENT ON MARCO ISLAND. SALES TAX CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS - TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG- - TERM DEBT INCURRED IN THE CONSTRUCTION OF THE COURTHOUSE EXPANSION AND THE PARTIAL REFUNDING OF THE 1985 REFUNDING SALES TAX BONDS. _ ROAD AND OTHER IMPROVEMENTS-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON THE COMMERCIAL PAPER LOAN PROGRAM. SPECIAL OBLIGATION REVENUE BONDS-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED TO PURCHASE LAND AND CONSTRUCT PARKING FACILITIES. EUCLID AND LAKELAND ASSESSMENT-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED IN THE CONSTRUCTION OF ROADSIDE IMPROVEMENTS. ISLE OF CAPRI RENOVATIONS AND EXPANSION - TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED IN THE RENOVATION OF BUILDINGS. HEALTH DEPARTMENT COMPUTER-TO ACCOUNT FOR THE ACCUMULATION OF RESOURCES FOR AND PAYMENT OF INTEREST AND PRINCIPAL ON LONG-TERM DEBT INCURRED IN THE PURCHASE OF EQUIPMENT. COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET - ALL DEBT SERVICE FUNDS SEPTEMBER 30,1994 Golden Gate Parks General Race Guaranteed Gas Tax General Obligation Track Entitlement Revenue Marco Island Obligation Refunding Revenue Revenue Refunding Limited General Bonds Bonds Certificates Bonds Bonds Obligation Bonds ASSETS Cash and investments $ 2,012 $ 50,541 $ 419,439$ 448,153$ 568,027$ 27,908 Cash and investments with fiscal agent - - - 315,305 - - Receivables: Special assessment - - - - - - Interest - 341 2,819 4,741 3,637 186 Other - - - - - - Due from other funds - 7,445 - - - 5,630 Due from other governments - 242 - - 96,500 - NMI Total assets $ 2,012 $ 58,569$ 422,258$ 768,199$ 668,164$ 33,724 LIABILITIES AND FUND BALANCES Liabilities: Vouchers payable and accruals $ - $ - $ -$ -$ -$ - Due to other funds - - - - - - Matured bonds payable - 15,300 - 220,000 - - Matured interest payable - 12,369 - 95,305 - - .-. Total liabilities - 27,669 - 315,305 - - Fund balances: Reserved for: Debt service - - 422,258 452,894 668,164 - Unreserved: -• Designated for debt service 2,012 30,900 - - - 33,724 Total fund balance 2,012 30,900 422,258 452,894 668,164 33,724 Total liabilities and fund balances $ 2,012 $ 58,569$ 422,258$ 768,199$ 668,164 $ 33,724 Special Sales Tax Obligation Euclid and Isle of Capri Health Revenue Road and Other Revenue Lakeland Renovations Department - Refunding Bonds Improvements Bonds Assessment And Expansion Computer Total $ 4,040,411 $ 136,646$ 17,230$ 987 $ 6,503$ 60,510$ 5,778,367 1,297,644 41,353 - 270,160 4,567 4,246 1,933,275 - - - - 112,173 - - 112,173 35,333 1,292 116 9,592 72 392 58,521 - - - - - 45,094 45,094 - - - 1,183 363 - 14,621 - 298,541 18,411 - - - - 413,694 $ 5,671,929$ 197,702 $ 17,346 $ 394,095 $ 11,505$ 110,242 $ 8,355,745 $ 266,035$ - $ - $ - $ -$ - $ 266,035 - - - 28,000 - - 28,000 1,100,800 - - 260,986 - 3,383 1,600,469 ... 256,228 41,353 - 9,173 4,567 862 419,857 1,623,063 41,353 - 298,159 4,567 4,245 2,314,361 4,048,866 156,349 17,346 95,936 - 105,997 5,967,810 - - - - 6,938 - 73,574 4,048,866 156,349 17,346 95,936 6,938 105,997 6,041,384 $ 5,671,929 $ 197,702 $ 17,346 $ 394,095 $ 11,505$ 110,242 $ 8,355,745 - 59 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES ALL DEBT SERVICE FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Golden Gate Parks General Race Guaranteed Gas Tax General Obligation Track Entitlement Revenue Marco Island Obligation Refunding Revenue Revenue Refunding Limited General Bonds Bonds Certificates Bonds Bonds Obligation Bonds Revenues: Taxes $ -$ 917,975$ -$ -$ 579,000$ 683,220 Intergovernmental - 242 362,500 402,000 - - Interest income - 2,970 25,618 28,589 28,892 15,152 0..1 Special assessments - - - - - - Total revenues - 921,187 388,118 430,589 607,892 698,372 Expenditures: Debt service: Principal retirement 34,000 465,000 210,000 220,000 205,000 420,000 Interest&fiscal charges 6,500 420,631 162,622 191,104 401,924 253,878 Total expenditures 40,500 885,631 372,622 411,104 606,924 673,878 Excess of revenues over (under)expenditures (40,500) 35,556 15,496 19,485 968 24,494 Other financing sources(uses): Proceeds from loans - - - - - - Proceeds from refunding bonds - - - - - - Payment to refunded bond escrow agent - - - - - - Operating transfers in 40,500 7,225 - - - 5,628 Operating transfers out - (30,720) - - - (23,036) Total other financing "' sources(uses) 40,500 (23,495) - - - (17,408) Excess of revenues and other sources over(under)expen- ditures and other uses - 12,061 15,496 19,485 968 7,086 Fund balances at beginning of year 2,012 18,839 406,762 433,409 667,196 26,638 Residual equity transfer in - - - - - - Fund balances at end of year $ 2,012 $ 30,900$ 422,258 $ 452,894$ 668,164$ 33,724 Special Sales Tax Obligation Euclid and Isle of Capri Health Revenue Road and Other Revenue Lakeland Renovations Department Refunding Bonds Improvements Bonds Assessment And Expansion Computer Total $ - $ -$ -$ -$ 37,011 $ -$ 2,217,206 - 3,582,500 - - - - - 4,347,242 229,986 64,198 4,311 8,656 738 2,122 411,232 - - - 141,278 - - 141,278 3,812,486 64,198 4,311 149,934 37,749 2,122 7,116,958 1,060,000 1,600,000 875,000 521,973 22,929 39,386 5,673,288 2,980,789 492,298 159,468 35,102 15,047 11,559 5,130,922 4,040,789 2,092,298 1,034,468 557,075 37,976 50,945 10,804,210 (228,303) (2,028,100) (1,030,157) (407,141) (227) (48,823) (3,687,252) - 650,000 - - - - 650,000 30,215,735 - - - - - 30,215,735 - (29,815,513) - - - - - (29,815,513) - 1,292,950 995,000 1,166 321 - 2,342,790 - (650,000) - (6,148) (823) - (710,727) 400,222 1,292,950 995,000 (4,982) (502) - 2,682,285 171,919 (735,150) (35,157) (412,123) (729) (48,823) (1,004,967) 3,876,947 891,499 52,503 503,861 7,667 154,820 7,042,153 - - - 4,198 - - 4,198 $ 4,048,866 $ 156,349$ 17,346$ 95,936 $ 6,938$ 105,997 $ 6,041,384 60 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES- BUDGET AND ACTUAL -• ALL DEBT SERVICE FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Golden Gate General Obligations Bonds Parks General Obligation Refunding Bonds Variance Variance - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ -$ - $ -$ 951,800$ 917,975$ (33,825) Intergovernmental - - - - 242 242 Interest income - - - 1,000 2,970 1,970 Special assessments - - - - - - Total revenues - - - 952,800 921,187 (31,613) Expenditures: Debt service: Principal retirement 34,000 34,000 - 465,000 465,000 - Interest and fiscal charges 7,500 6,500 1,000 420,724 420,631 93 ,� Total expenditures 41,500 40,500 1,000 885,724 885,631 93 Excess of revenues over (under)expenditures (41,5001 (40,500) 1,000 67,076 35,556 (31,520) Other financing sources(uses): Proceeds from loans - - - - - - Proceeds from refunding bonds - - - - - - Payment to refunded bond escrow agent - - - - - - Operating transfers in 40,500 40,500 - - 7,225 7,225 Operating transfers out - - - (31,376) (30,720) 656 �. Total other financing sources(uses) 40,500 40,500 - (31,376) (23,495) 7,881 - Excess of revenues and other sources over(under)expen- ditures and other uses (1,000) - 1,000 35,700 12,061 (23,639) Fund balances at beginning of year 2,012 2,012 - 18,839 18,839 - Residual equity transfer in - - - - - - Fund balances at end of year $ 1,012 $ 2,012 $ 1,000$ 54,539$ 30,900$ (23,639) Race Track Revenue Certificates Guaranteed Entitlement Revenue Bonds - Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ -$ - $ -$ -$ -$ - 362,500 362,500 - 402,000 402,000 - 14,000 25,618 11,618 14,800 28,589 13,789 376,500 388,118 11,618 416,800 430,589 13,789 210,000 210,000 - 220,000 220,000 - - 163,800 162,622 1,178 191,700 191,104 596 373,800 372,622 1,178 411,700 411,104 596 2,700 15,496 12,796 5,100 19,485 14,385 2,700 15,496 12,796 5,100 19,485 14,385 406,762 406,762 - 433,409 433,409 - $ 409,462$ 422,258 $ 12,796$ 438,509$ 452,894 $ 14,385 (CONTINUED) 61 COLLIER COUNTY,FLORIDA - COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES- BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Gas Tax Revenue Refunding Bonds Marco Island Limited General Obligation Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ 579,000$ 579,000$ -$ 705,400$ 683,220$ (22,180) Intergovernmental - - - - - - Interest income 12,000 28,892 16,892 6,400 15,152 8,752 Special assessments - - - - - - Total revenues 591,000 607,892 16,892 711,800 698,372 (13,428) .... Expenditures: Debt service: Principal retirement 205,000 205,000 - 420,000 420,000 - Interest and fiscal charges 407,000 401,924 5,076 256,412 253,878 2,534 --• Total expenditures 612,000 606,924 5,076 676,412 673,878 2,534 Excess of revenues over (under)expenditures (21,000) 968 21,968 35,388 24,494 (10,894) Other financing sources(uses): Proceeds from loans - - - - - - Proceeds from refunding bonds - - - - - - Payment to refunded bond escrow agent - - - - - - Operating transfers in - - - - 5,628 5,628 -• Operating transfers out - - - (23,088) (23,036) 52 Total other financing sources(uses) - - - (23,088) (17,408) 5,680 ... Excess of revenues and other sources over(under)expen- ditures and other uses (21,000) 968 21,968 12,300 7,086 (5,214) Fund balances at beginning of year 667,196 667,196 - 26,638 26,638 - Residual equity transfer in - - - - - - Fund balances at end of year $ 646,196$ 668,164$ 21,968$ 38,938$ 33,724$ (5,214) MO Sales Tax Revenue Refunding Bonds Road and Other Improvements Variance Variance - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) - $ -$ - $ -$ -$ -$ - 3,582,500 3,582,500 - - - - 110,200 229,986 119,786 13,000 64,198 51,198 3,692,700 3,812,486 119,786 13,000 64,198 51,198 1,060,000 1,060,000 - 1,600,000 1,600,000 - 2,987,522 2,980,789 6,733 493,000 492,298 702 4,047,522 4,040,789 6,733 2,093,000 2,092,298 702 - (354,822) (228,303) 126,519 (2,080,000) (2,028,100) 51,900 - - - - 650,000 650,000 - 30,215,736 30,215,735 (1) - - - (29,815,514) (29,815,513) 1 - - - - - - 1,291,200 1,292,950 1,750 -- - - - (650,000) (650,000) - 400,222 400,222 - 1,291,200 1,292,950 1,750 45,400 171,919 126,519 (788,800) (735,150) 53,650 3,876,947 3,876,947 - 891,499 891,499 - $ 3,922,347 $ 4,048,866 $ 126,519 $ 102,699$ 156,349 $ 53,650 (CONTINUED) 62 0. 1 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES- BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 Special Obligation Revenue Bonds Euclid and Lakeland Assessment Variance Variance - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: -• Taxes $ -$ -$ -$ -$ - $ - Intergovernmental - - - - - - Interest income 100 4,311 4,211 5,000 8,656 3,656 Special assessments - - - 228,500 141,278 (87,222) --. Total revenues 100 4,311 4,211 233,500 149,934 (83,566) Expenditures: Debt service: Principal retirement 875,000 875,000 - 521,975 521,973 2 Interest and fiscal charges 160,500 159,468 1,032 35,125 35,102 23 Total expenditures 1,035,500 1,034,468 1,032 557,100 557,075 25 Excess of revenues over (under)expenditures (1,035,400) (1,030,157) 5,243 (323,600) (407,141) (83,541) Other financing sources(uses): I.m, Proceeds from loans - - - - - - Proceeds from refunding bonds - - - - - - Payment to refunded bond escrow agent - - - - - - Operating transfers in 995,000 995,000 - - 1,166 1,166 Operating transfers out - - - (8,300) (6,148) 2,152 Total other financing sources(uses) 995,000 995,000 - (8,300) (4,982) 3,318 ._, Excess of revenues and other sources over(under)expen- ditures and other uses (40,400) (35,157) 5,243 (331,900) (412,123) (80,223) Fund balances at beginning of year 52,503 52,503 - 503,861 503,861 - Residual equity transfer in - - - - 4,198 4,198 Fund balances at end of year $ 12,103$ 17,346$ 5,243$ 171,961 $ 95,936$ (76,025) Isle of Capri Renovations and Expansions Health Department Computer Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 37,600$ 37,011 $ (589)$ -$ -$ - - - - 54,800 - (54,800) 100 738 638 1,200 2,122 922 37,700 37,749 49 56,000 2,122 (53,878) 23,000 22,929 71 42,000 39,386 2,614 15,100 15,047 53 12,900 11,559 1,341 38,100 37,976 124 54,900 50,945 3,955 - (400) (227) 173 1,100 (48,823) (49,923) - 321 321 - - - (1,200) (823) 377 - - - (1,200) (502) 698 - - - - (1,600) (729) 871 1,100 (48,823) (49,923) - 7,667 7,667 - 154,820 154,820 - $ 6,067 $ 6,938 $ 871 $ 155,920$ 105,997 $ (49,923) (CONTINUED) - 63 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES— BUDGET AND ACTUAL ALL DEBT SERVICE FUNDS—CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Total Variance Favorable Budget Actual (Unfavorable) Revenues: Taxes $ 2,273,800$ 2,217,206$ (56,594) Intergovernmental 4,401,800 4,347,242 (54,558) Interest income 177,800 411,232 233,432 Special assessments 228,500 141,278 (87,222) Total revenues 7,081,900 7,116,958 35,058 Expenditures: Debt service: Principal retirement 5,675,975 5,673,288 2,687 Interest and fiscal charges 5,151,283 5,130,922 20,361 Total expenditures 10,827,258 10,804,210 23,048 Excess of revenues over (under)expenditures (3,745,358) (3,687,252) 58,106 Other financing sources(uses): Proceeds from loans 650,000 650,000 Proceeds from refunding bonds 30,215,736 30,215,735 (1) Payment to refunded bond escrow agent (29,815,514) (29,815,513) 1 Operating transfers in 2,326,700 2,342,790 16,090 Operating transfers out (713,964) (710,727) 3,237 Total other financing sources(uses) 2,662,958 2,682,285 19,327 Excess of revenues and other sources over(under)expen— ditures and other uses (1,082,400) (1,004,967) 77,433 Fund balances at beginning of year 7,042,153 7,042,153 — Residual equity transfer in — 4,198 4,198 Fund balances at end of year $ 5,959,753$ 6,041,384 $ 81,631 64 CAPITAL PROJECTS FUNDS COUNTY WIDE CAPITAL IMPROVEMENTS -TO ACCOUNT FOR CAPITAL PROJECTS, DESIGNATED BY THE BOARD OF COUNTY COMMISSIONERS,TO BE FUNDED BY A COUNTY-WIDE ONE MIL LEVY. PARKS IMPROVEMENTS - TO ACCOUNT FOR THE EXPENDITURE OF PROCEEDS FROM THE ISSUANCE OF PARKS GENERAL REFUNDING BONDS. PROJECTS INCLUDE LAND ACQUISITION, DESIGN, CONSTRUCTION, AND EQUIPPING OF CERTAIN COMMUNITY PARK SITES IN THE UNINCORPORATED AREAS OF THE COUNTY. COUNTY-WIDE UBRARY-TO ACCOUNT FOR THE RECEIPT AND EXPENDITURE OF LIBRARY IMPACT FEES COLLECTED FROM ALL QUALIFYING NEW CONSTRUCTION. THESE IMPACT FEES MUST BE USED FOR THE ACQUISITION OF COUNTY-WIDE LIBRARY FACILITIES. PARKS-TO ACCOUNT FOR THE RECEIPT AND EXPENDITURE BY DISTRICTS OF COMMUNITY AND REGIONAL PARK IMPACT FEES COLLECTED FROM ALL QUALIFYING NEW CONSTRUCTION. THE IMPACT FEES MUST BE USED FOR THE ACQUISITION OF COMMUNITY PARKS BY DISTRICT. ROAD IMPACT DISTRICTS-TO ACCOUNT FOR THE RECEIPT AND EXPENDITURE BY DISTRICT OF ROAD IMPACT FEES COLLECTED FROM ALL QUALIFYING NEW CONSTRUCTION. THE IMPACT FEES MUST BE USED FOR THE ACQUISITION OF TRANSPORTATION RELATED FACILITIES BY DISTRICT. EMERGENCY MEDICAL SERVICE - TO ACCOUNT FOR THE RECEIPT AND EXPENDITURE OF EMERGENCY MEDICAL SERVICE IMPACT FEES COLLECTED FROM ALL QUALIFYING NEW CONSTRUCTION. THE IMPACT FEES MUST BE USED FOR ACQUISITION/CONSTRUCTION OF EMERGENCY SERVICES FACILITIES. ROAD CONSTRUCTION-TO ACCOUNT FOR THE RECEIPT AND EXPENDITURE OF LOCAL OPTION, .- STATE ALLOCATED GAS TAX AND COMMERCIAL PAPER LOAN PROGRAM PROCEEDS. PROJECTS INCLUDE, BUT ARE NOT LIMITED TO, RIGHT-OF-WAY ACQUISITION, DESIGN AND CONSTRUCTION OF VARIOUS TRANSPORTATION IMPROVEMENTS. WATER MANAGEMENT-TO ACCOUNT FOR THE RECEIPT AND EXPENDITURE OF FUNDS RAISED SPECIFICALLY FOR WATER MANAGEMENT PURPOSES. PRIMARY FUNDING IS AD VALOREM TAXES. MARCO ISLAND BEACH RENOURISHMENT-TO ACCOUNT FOR THE EXPENDITURE OF PROCEEDS FROM A $5,000,000 GENERAL OBLIGATION BOND ISSUE FOR THE BEACH RENOURISHMENT OF CERTAIN BEACHES ON MARCO ISLAND. OTHER CAPITAL PROJECTS-TO ACCOUNT FOR MAJOR CAPITAL EXPENDITURES FINANCED FROM RESOURCES OTHER THAN PROCEEDS FROM THE ISSUANCE OF LONG-TERM DEBT AND THE ONE MIL LEVY. COMMUNITY DEVELOPMENT BLOCK GRANT-TO ACCOUNT FOR THE EXPENDITURES ASSOCIATED WITH THE GRANT PROGRAM. THE GRANT IS A REIMBURSABLE GRANT TO BUILD AFFORDABLE HOUSING INFRASTRUCTURE. COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET ALL CAPITAL PROJECTS FUNDS SEPTEMBER 30,1994 County—Wide Road sm. Capital Parks County—Wide Impact Improvements Improvements Library Parks Districts ASSETS Cash and investments $ 4,820,753 $ 2,188,963$ 1,196,270 $ 10,061,365$ 17,114,493 Receivables: Special assessments — — — — — — Interest 36,646 15,406 6,069 68,464 110,652 Other — — — — — Due from other funds — 24,121 — — — Due from other governments — — 560 6,188 88,055 —" Prepaid costs — — — — — Total assets $ 4,857,399$ 2,228,490$ 1,202,899$ 10,136,017$ 17,313,200 LIABILITIES AND FUND BALANCES Liabilities: Vouchers payable and accruals $ 225,277 $ 810 $ 131,289 $ 529,003$ 474,354 Due to other funds — — — — 160 Due to other governments — — — 25,000 — — Deferred revenues — — 632,058 6,643,574 12,105,545 Retainage payable 356,590 — 49,945 224,565 254,900 Total liabilities 581,867 810 813,292 7,422,142 12,834,959 — Fund balances: Reserved for: Encumbrances 1,006,088 108,359 548,087 2,599,276 3,719,409 Prepaid costs — — — — — Unreserved: — Designated for future capital projects 3,269,444 2,119,321 (158,480) 114,599 758,832 Total fund balances 4,275,532 2,227,680 389,607 2,713,875 4,478,241 Total liabilities and fund balances $ 4,857,399 $ 2,228,490$ 1,202,899 $ 10,136,017 $ 17,313,200 Emergency Marco Island Other Community Medical Road Water Beach Capital Development Service Construction Management Renourishment Projects Block Grant Total $ 845,599$ 11,618,143 $ 721,387$ 802,373$ 862,060$ -$ 50,231,406 - - - - - 123,175 - 123,175 5,561 73,944 4,971 5,461 40,628 - 367,802 - 34,203 - - - - 34,203 - 30,000 - - 9,200 - 63,321 2,249 877,579 - - 3,936 514,441 1,493,008 - - - - 2,642 - 2,642 $ 853,409 $ 12,633,869 $ 726,358$ 807,834$ 1,041,641 $ 514,441 $ 52,315,557 $ 5,539 $ 72,844 $ 7,188$ -$ 56,557$ -$ 1,502,861 -. - 60 - - - 468,155 468,375 - - - - - - 25,000 789,284 - - - 69,272 - 20,239,733 - 44,097 - - 14,640 46,286 991,023 794,823 117,001 7,188 - 140,469 514,441 23,226,992 - 1,038,237 12,849 - 5,395 78,887 9,116,587 - - - - - 2,642 - 2,642 58,586 11,478,631 706,321 807,834 893,135 (78,887) 19,969,336 - 58,586 12,516,868 719,170 807,834 901,172 - 29,088,565 $ 853,409 $ 12,633,869 $ 726,358$ 807,834$ 1,041,641 $ 514,441 $ 52,315,557 mm - 65 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES ALL CAPITAL PROJECTS FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 County-Wide Road Capital Parks County-Wide Impact Improvements Improvements Library Parks Districts Revenues: Taxes $ -$ -$ -$ -$ - Ucenses and permits - - - - - Intergovernmental - - - - - "' Charges for services 306 136,944 - - - Interest income 356,250 108,553 39,934 503,909 760,130 Impact fees - - 317,483 2,964,772 3,605,348 Special assessments - - - - - Miscellaneous - 233 - - 744,490 Total revenues 356,556 245,730 357,417 3,468,681 5,109,968 Expenditures: Capital outlay: General government 918,309 - - - - Public safety 2,230,328 - - - - Physical environment 255,645 - - - - Transportation 504 - - - 4,218,290 Human services 342,063 - - - - - Culture and recreation - 715,531 965,733 2,964,772 - Debt Service: Claims and judgements - - - - - Total expenditures 3,746,849 715,531 965,733 2,964,772 4,218,290 Excess of revenues over (under)expenditures (3,390,293) (469,801) (608,316) 503,909 891,678 - Other financing sources(uses): Operating transfers in 5,341,900 688,068 650,000 - 318,452 Operating transfers out (3,265,894) - (1,750) - (450,000) - Total other financing sources(uses) 2,076,006 688,068 648,250 - (131,548) Excess of revenues and other sources over(under)expen- ditures and other uses (1,314,287) 218,267 39,934 503,909 760,130 Fund balances at beginning of year 5,589,819 2,009,413 349,673 2,209,966 3,718,111 Residual equity transfers out - - - - - Fund balances at end of year $ 4,275,532 $ 2,227,680$ 389,607 $ 2,713,875$ 4,478,241 I I • I , - Emergency Marco Island Other Community Medical Road Water Beach Capital Development Service Construction Management Renourishment Projects Block Grant Total $ -$ 2,532,046 $ -$ -$ -$ -$ 2,532,046 - - 1,000 - - - - 1,000 - 2,066,939 - - - 493,936 2,560,875 - 1,671 - 3 - - 138,924 34,796 312,940 32,281 40,496 70,964 - 2,260,253 _. 28,158 - - - - - 6,915,761 _ _ - - 54,539 - 54,539 - 211,574 - - 44 - 956,341 - 62,954 5,126,170 32,281 40,499 125,547 493,936 15,419,739 - - - - - - 918,309 28,158 - - - - - 2,258,486 - 40,000 187,250 79,922 90,614 493,936 1,147,367 - - 5,460,737 - - - - 9,679,531 - - - - - - 342,063 - - - - 1,176,153 - 5,822,189 - - 59,733 - - - - 59,733 28,158 5,560,470 187,250 79,922 1,266,767 493,936 20,227,678 34,796 (434,300) (154,969) (39,423) (1,141,220) - (4,807,939) _ - 5,674,694 201,800 - 581,800 - 13,456,714 - (318,452) (1,031,690) - - - (5,067,786) - 5,356,242 (829,890) - 581,800 - 8,388,928 34,796 4,921,942 (984,859) (39,423) (559,420) - 3,580,989 23,790 7,638,517 1,704,029 847,257 1,460,592 - 25,551,167 - (43,591) - - - - (43,591) - $ 58,586$ 12,516,868$ 719,170$ 807,834$ 901,172 $ - $ 29,088,565 66 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL ALL CAPITAL PROJECTS FUNDS FOR THE FISCAL YEAR ENDING SEPTEMBER 30,1994 County-Wide Capital Improvements Parks Improvements Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ - $ - $ -$ - $ - $ - - Licenses and permits - - - - - - Intergovernmental 100,000 - (100,000) 85,000 - (85,000) Charges for services - 306 306 85,000 136,944 51,944 Interest income 138,700 356,250 217,550 30,600 108,553 77,953 ^ Impact fees - - - - - - Special assessments - - - - - - Miscellaneous - - - - 233 233 Total revenues 238,700 356,556 117,856 200,600 245,730 45,130 Expenditures: Capital outlay: General government 2,711,338 918,309 1,793,029 - - - Public safety 3,899,593 2,230,328 1,669,265 - - - Physical environment 425,505 255,645 169,860 - - - - Transportation 105,200 504 104,696 - - - Human services 720,114 342,063 378,051 - - - Culture and recreation - - - 2,825,577 715,531 2,110,046 Debt Service: Claims and judgements - - - - - - Total expenditures 7,861,750 3,746,849 4,114,901 2,825,577 715,531 2,110,046 Excess of revenues over (under)expenditures (7,623,050) (3,390,293) 4,232,757 (2,624,977) (469,801) 2,155,176 Other financing sources(uses): NMI Proceeds from loans - - - - - - Operating transfers in 5,341,900 5,341,900 - 664,800 688,068 23,268 Operating transfers out (3,268,244) (3,265,894) 2,350 - - - Total other financing sources(uses) 2,073,656 2,076,006 2,350 664,800 688,068 23,268 Excess of revenues and other sources over(under)expen- ditures and other uses (5,549,394) (1,314,287) 4,235,107 (1,960,177) 218,267 2,178,444 .._ Fund balances at beginning of year 5,589,819 5,589,819 - 2,009,413 2,009,413 - Residual equity transfers out - - - - - - Fund balances at end of year $ 40,425 $ 4,275,532 $ 4,235,107$ 49,236 $ 2,227,680 $ 2,178,444 County-Wide Library(Non-GAAP) Parks(Non-GAAP) Variance Variance Favorable Favorable — Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ - $ -$ -$ - $ -$ — 7,500 39,934 32,434 171,500 503,909 332,409 472,500 744,111 271,611 1,515,075 2,068,646 553,571 480,000 784,045 304,045 1,686,575 2,572,555 885,980 1,591,047 965,733 625,314 10,895,960 2,964,772 7,931,188 — 1,591,047 965,733 625,314 10,895,960 2,964,772 7,931,188 — (1,111,047) (181,688) _ 929,359 (9,209,385) (392,217) 8,817,168 1,100,000 - (1,100,000) - - - 650,000 650,000 - - - - - (1,750) (1,750) - - - — 1,750,000 648,250 (1,101,750) - - - 638,953 466,562 (172,391) (9,209,385) (392,217) 8,817,168 349,673 349,673 - 2,209,966 2,209,966 - $ 988,626 $ 816,235$ (172,3911$ (6.999,419)$ 1,817,749$ 8,817,168 (CONTINUED) - 67 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON—GAAP BUDGETARY BASIS)AND ACTUAL '"' ALL CAPITAL PROJECTS FUNDS—CONTINUED FOR THE FISCAL YEAR ENDING SEPTEMBER 30,1994 Road Impact Districts(Non—GAAP) Emergency Medical Services(Non—GAAP) Variance Variance Favorable Favorable —" Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ — $ — $ —$ — $ —$ — Licenses and permits — — — — — — Intergovernmental — — — — — — Charges for services — — — — — — Interest income 215,900 760,130 544,230 15,000 34,796 19,796 Impact fees 3,919,427 6,422,394 2,502,967 310,000 266,658 (43,342) Special assessments — — — — — — Miscellaneous 840,795 744,490 (96,305) — — Total revenues 4,976,122 7,927,014 2,950,892 325,000 301,454 (23,546) Expenditures: Capital outlay: General government — — — — — — Public safety — — — 31,000 28,158 2,842 — Physical environment — — — — — — Transportation 14,681,825 4,218,290 10,463,535 — — — Human services — — — — — — Culture and recreation — — — — — — Debt Service: Claims and judgements — — — — — — Total expenditures 14,681,825 4,218,290 10,463,535 31,000 28,158 2,842 ... Excess of revenues over/ (under)expenditures (9,705,703) 3,708,724 13,414,427 294,000 273,296 (20,704) Other financing sources(uses): Proceeds from loans — — — — — — Operating transfers in 318,452 318,452 — — — — Operating transfers out (450,000) (450,000) — — — — — Total other financing sources(uses) (131,548) (131,548) — — — — Excess of revenues and other sources over(under)expen— ditures and other uses (9,837,251) 3,577,176 13,414,427 294,000 273,296 (20,704) Fund balances at beginning of year 3,718,111 3,718,111 — 23,790 23,790 — Residual equity transfers out — — — — — — ,..., Fund balances at end of year $ (6,119,140)$ 7,295,287 $ 13,414,427$ 317,790 $ 297,086 $ j20,704) 1 I Road Construction Water Management Variance Variance Favorable Favorable - Budget Actual (Unfavorable) Budget Actual (Unfavorable) - $ 2,200,000 $ 2,532,046$ 332,046$ - $ -$ - 10,000 1,000 (9,000) - - - 2,060,000 2,066,939 6,939 - - - 16,000 1,671 (14,329) - - - - 98,000 312,940 214,940 20,000 32,281 12,281 243,949 211,574 (32,375) - - - - 4,627,949 5,126,170 498,221 20,000 32,281 12,281 40,000 40,000 - 688,318 187,250 501,068 12,276,623 5,460,737 6,815,886 - - - 59,733 59,733 - - - - 12,376,356 5,560,470 6,815,886 688,318 187,250 501,068 - (7,748,407) (434,300) 7,314,107 (668,318) (154,969) 513,349 5,674,694 5,674,694 - 201,800 201,800 - (318,452) (318,452) - (1,031,691) (1,031,690) 1 5,356,242 5,356,242 - (829,891) (829,890) 1 (2,392,165) 4,921,942 7,314,107 (1,498,209) (984,859) 513,350 7,638,517 7,638,517 - 1,704,029 1,704,029 - - (43,591) (43,591) - - - $ 5,246,352 $ 12,516,868$ 7,270,516$ 205,820 $ 719,170$ 513,350 (CONTINUED) 68 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL ALL CAPITAL PROJECTS FUNDS-CONTINUED FOR THE FISCAL YEAR ENDING SEPTEMBER 30,1994 Marco Island Beach Renouishment Other Capital Projects Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Taxes $ - $ - $ - $ - $ - $ - Licenses and permits - - - - - - Intergovernmental - - - - - - Charges for services - 3 3 - - - Interest income 25,000 40,496 15,496 36,400 70,964 34,564 Impact fees - - - - - - Special assessments - - - 24,000 54,539 30,539 Miscellaneous - - - - 44 44 Total revenues 25,000 40,499 15,499 60,400 125,547 65,147 Expenditures: Capital outlay: General government - - - - - - Public safety - - - - - - Physical environment 96,120 79,922 16,198 99,465 90,614 8,851 - Transportation - - - - - - Human services - - - - - - Culture and recreation - - - 1,286,838 1,176,153 110,685 Debt Service: Claims and judgements - - - - - - Total expenditures 96,120 79,922 16,198 1,386,303 1,266,767 119,536 Excess of revenues over/ (under)expenditures (71,120) (39,423) 31,697 (1,325,903) (1,141,220) 184,683 Other financing sources(uses): Proceeds from loans - - - - - - Operating transfers in - - - 581,800 581,800 - Operating transfers out - - - - - - Total other financing sources(uses) - - - 581,800 581,800 - Excess of revenues and other - sources over(under)expen- ditures and other uses (71,120) (39,423) 31,697 (744,103) (559,420) 184,683 Fund balances at beginning of year 847,257 847,257 - 1,460,592 1,460,592 - Residual equity transfers out - - - - - - Fund balances at end of year $ 776,137 $ 807,834 $ 31,697$ 716,489 $ 901,172 $ 184,683 Community Development Block Grant Total — Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ - $ -$ - $ 2,200,000 $ 2,532,046$ 332,046 - - - 10,000 1,000 (9,000) 576,821 493,936 (82,885) 2,821,821 2,560,875 (260,946) — - - - 101,000 138,924 37,924 - - - 758,600 2,260,253 1,501,653 - - - 6,217,002 9,501,809 3,284,807 - - - 24,000 54,539 30,539 - - - 1,084,744 956,341 (128,403) 576,821 493,936 (82,885) 13,217,167 18,005,787 4,788,620 - - - 2,711,338 918,309 1,793,029 — - - - 3,930,593 2,258,486 1,672,107 576,821 493,936 82,885 1,926,229 1,147,367 778,862 - - - 27,063,648 9,679,531 17,384,117 - - - 720,114 342,063 378,051 — - - - 16,599,422 5,822,189 10,777,233 - - - 59,733 59,733 - — 576,821 493,936 82,885 53,011,077 20,227,678 32,783,399 - - - (39,793,910) (2,221,891) 37,572,019 - - - 1,100,000 - (1,100,000) - - - 13,433,446 13,456,714 23,268 - - - (5,068,387) (5,067,786) 601 - - - 9,465,059 8,388,928 (1,076,131) — - - - (30,328,851) 6,167,037 36,495,888 — - - - 25,551,167 25,551,167 - - - - - (43,591) (43,591) $ - $ -$ -$ (4,777,684)$ 31,674,613$ 36,452,297 G 69 ammo THIS PAGE INTENTIONALLY LEFT BLANK same ENTERPRISE FUNDS WATER AND SEWER DISTRICTS - TO ACCOUNT FOR THE PROVISION OF WATER AND SEWER - SERVICES TO CERTAIN UNINCORPORATED AREAS OF THE COUNTY: COUNTY WATER AND SEWER DISTRICT MARCO WATER AND SEWER DISTRICT GOODLAND WATER DISTRICT SOLID WASTE DISPOSAL - TO ACCOUNT FOR THE PROVISION OF SOLID WASTE DISPOSAL SERVICES TO USERS THROUGHOUT THE COUNTY. EMERGENCY MEDICAL SERVICES - TO ACCOUNT FOR THE PROVISION OF EMERGENCY AMBULANCE AND PARAMEDICAL SERVICES TO USERS THROUGHOUT THE COUNTY. AIRPORT AUTHORITY-TO ACCOUNT FOR THE PROVISION OF LANDING FACILITIES AND THE SALE OF FUEL AT THE AIRPORTS. COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET ALL ENTERPRISE FUNDS SEPTEMBER 30, 1994 County Water Marco Water Goodland Solid Waste ASSETS and Sewer and Sewer Water Disposal Current assets: Cash and investments $ 16,917,449 $ 346,413 $ 403,024 $ 9,421,929 Receivables: Interest 468,295 5,677 3,301 187,307 Trade 1,837,942 3,423 570 1,485,195 Unbilled 1,195,325 - 7,563 - Due from other funds 19,050 - - 191,226 Due from other governments 10,134 - - 218,455 Inventory 475,313 - - - Prepaid costs 18,884 - - - Total current assets 20,942,392 355,513 414,458 11,504,112 Restricted assets: Cash and investments 43,399,233 505,704 49,161 4,247,865 Cash and investments with fiscal agent 2,632,946 - - - Special assessments receivable: Current 984,833 967 1,131 - Deferred 16,336,296 361,097 162,222 - Accrued interest 1,163,901 9,174 6,821 - Notes receivable 3,154,942 - - - Due from other governments 25,856 - - - Total restricted assets 67,698,007 876,942 219,335 4,247,865 Property,plant and equipment: -. Land 4,473,799 860 365 1,459,890 Buildings 85,109,736 - - 259,715 Improvements other than buildings 210,691,316 4,635,264 1,211,441 153,058 Equipment 3,257,677 - - 3,507,677 .- Construction -Construction in progress 17,569,777 - - 6,685,635 Excess of cost over fair value of assets 3,305,527 - - - 324,407,832 4,636,124 1,211,806 12,065,975 - Less accumulated depreciation (45,308,469) (1,116,807) (599,939) (2,159,856) Net property,plant and equipment 279,099,363 3,519,317 611,867 9,906,1 19 Other assets 9,356,245 31,577 - - Total assets $ 377,096,007 $ 4,783,349 $ 1,245,660 $ 25,658,096 i Emergency Medical Airport Services Authority Total $ 643,940 $ 420,585 $ 28,153,340 5,269 968 670,817 477,701 40,587 3,845,418 1,202,888 _ - - 210,276 228,589 45,282 18,087 538,682 18,884 1,172,192 480,227 34,868,894 96,376 1,814 48,300,153 - 2,632,946 - - 986,931 - 16,859,615 648 - 1,180,544 3,154,942 25,856 97,024 1,814 73,140,987 - 5,934,914 221,588 - 85,591,039 3,127 - 216,694,206 2,647,813 50,994 9,464,161 24,255,412 - 3,305,527 2,872,528 50,994 345,245,259 (1,038,133) (10,262) (50,233,466) 1,834,395 40,732 295,011,793 9,387,822 $ 3,103,611 $ 522,773 $ 412,409,496 (CONTINUED) 70 COLLIER COUNTY,FLORIDA _ COMBINING BALANCE SHEET ALL ENTERPRISE FUNDS-CONTINUED SEPTEMBER 30, 1994 County Water Marco Water Goodland Solid Waste LIABILITIES AND FUND EQUITY and Sewer and Sewer Water Disposal Current liabilities: Vouchers payable and accruals $ 555,884 $ 16,915 $ 6,582 $ 309,068 Due to other funds 17,237 - - 1,063 Accrued interest payable - - - - Current maturities of lease obligations - - - - Current maturities of notes payable 863,026 - - - Total current liabilities 1,436,147 16,915 6,582 310,131 Current liabilities payable from restricted assets: Vouchers payable 201,601 - - - Current maturities of notes payable 535,037 - - - Current maturities of revenue bonds 3,920,000 132,738 3,000 - Due to other governments 130,587 - - - -" Accrued interest payable 2,165,035 19,758 771 - Customer deposits 2,466,874 38,587 5,540 203,700 Retainage payable 2,552,547 - - 365,889 Matured bonds payable 5,100 - - - Matured interest payable 18,772 - - - Total current liabilities payable from restricted assets 11,995,553 191,083 9,311 569,589 Long term liabilities: "" Landfill closure costs - - - 2,214,653 Revenue bonds payable(net) 104,520,320 576,154 182,000 - Notes payable 12,946,931 - - - Accrued compensated absences 325,226 3,050 267 44,839 Total long term liabilities 117,792,477 579,204 182,267 2,259,492 Total liabilities 131,224,177 787,202 198,160 3,139,212 Fund equity: Contributed capital 193,945,860 3,566,609 854,133 530,830 Retained earnings: - Reserved for: Revenue bond retirement 9,658,629 18,182 42,600 - Renewal and replacement 300,000 79,464 - - Landfill closure - - - 1,463,623 Unreserved 41,967,341 331,892 150,767 20,524,431 - Total retained earnings 51,925,970 429,538 193,367 21,988,054 Total fund equity 245,871,830 3,996,147 1,047,500 22,518,884 Total liabilities and fund equity $ 377,096,007 $ 4,783,349 $ 1,245,660 $ 25,658,096 - alma Emergency Medical Airport Services Authority Total $ 101,740 $ 3,139 $ 993,328 1,102 239,745 259,147 3,713 - 3,713 72,237 - 72,237 863,026 178,792 242,884 2,191,451 26,016 - 227,617 535,037 _ - - 4,055,738 - 114 130,701 2,185,564 - 1,700 2,716,401 _ - - 2,918,436 - - 5,100 - - 18,772 26,016 1,814 12,793,366 - - 2,214,653 - 105,278,474 - 12,946,931 191,947 5,413 570,742 191,947 5,413 121,010,800 396,755 250,111 135,995,617 1,326,384 82,213 200,306,029 - 9,719,411 - - 379,464 1,463,623 1,380,472 190,449 64,545,352 1,380,472 190,449 76,107,850 2,706,856 272,662 276,413,879 $ 3,103,611 $ 522,773 $ 412,409,496 71 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENSES AND CHANGES IN RETAINED EARNINGS ALL ENTERPRISE FUNDS - FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 - County Water Marco Water Goodland Solid Waste and Sewer and Sewer _ Water Disposal Operating revenues: Charges for services $ 30,441,479 $ 305,393 $ 100,634 $ 11,412,768 Total operating revenues 30,441,479 305,393 100,634 11,412,768 Operating expenses: Personal services 6,661,078 51,928 13,981 1,190,601 Operating 7,789,574 336,255 128,511 7,805,073 Depreciation 7,059,048 107,119 57,723 321,450 Amortization 102,034 7,894 - 753,969 Total operating expenses 21,611,734 503,196 200,215 10,071,093 Operating income(loss) 8,829,745 (197,803) (99,581) 1,341,675 Non-operating revenues(expenses): Interest income 4,650,529 86,409 35,507 780,209 Interest expense (5,076,498) (59,143) (14,091) - Miscellaneous income - - - - - Gain(loss)on disposal of fixed assets (4,680) - - (20,366) Entitlements and grants - - - 373,992 Total non-operating revenues(expenses) (430,649) 27,266 21,416 1,133,835 - Income(loss)before operating transfers 8,399,096 (170,537) (78,165) 2,475,510 Operating transfers: Operating transfers in 18,613 - - 63,723 Operating transfers out (156,528) - - (230,410) Total operating transfers (137,915) - - (166,687) Net income(loss) 8,261,181 (170,537) (78,165) 2,308,823 Depreciation of contributed assets 4,256,584 91,452 20,377 23,180 Increase(decrease)in retained earnings 12,517,765 (79,085) (57,788) 2,332,003 Retained earnings-Oct 1 as previously reported 40,608,205 508,623 251,155 17,770,136 Cumulative effect of change in in accounting principle(Note 21) - - - 1,885,915 Retained earnings-Oct 1 restated 40,608,205 508,623 251,155 19,656,051 Residual equity transfer out (1,200,000) - - - Retained earnings at end of year $ 51,925,970 $ 429,538 $ 193,367 $ 21.988,054 am. Emergency Medical Airport Services Authority Total $ 3,630,715 $ 435,096 $ 46,326,085 3,630,715 435,096 46,326,085 3,501,423 146,866 11,565,877 1,782,655 250,459 18,092,527 318,583 3,932 7,867,855 863,897 5,602,661 401,257 38,390,156 (1,971,946) 33,839 7,935,929 57,077 5,126 5,614,857 (6,109) - (5,155,841) 138 - 138 16,947 - (8,099) 47,943 - 421,935 115,996 5,126 872,990 (1,855,950) 38,965 8,808,919 1,934,715 - 2,017,051 - - (386,938) 1,934,715 - 1,630,113 78,765 38,965 10,439,032 230,477 954 4,623,024 309,242 39,919 15,062,056 1,071,230 150,530 60,359,879 1,885,915 1,071,230 150,530 62,245,794 - (1,200,000) $ 1,380,472 $ 190,449 $ 76.107,850 72 IMmll COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN RETAINED EARNINGS BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL ALL ENTERPRISE FUNDS - FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 County Water and Sewer(Non-GMP) Marco Water and Sewer(Non-GAAP) Variance Variance - Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Operating revenues: Charges for services $ 33,443,500$ 30,441,479$ (3,002,021)$ 307,000 $ 305,393$ (1,607) Total operating revenues 33,443,500 30,441,479 (3,002,021) 307,000 305,393 (1,607) Operating expenses: - Personal services 7,003,673 6,661,078 342,595 58,900 51,928 6,972 Operating 19,340,834 11,068,850 8,271,984 348,410 336,255 12,155 Capital outlay 28,447,449 11,011,660 17,435,789 14,700 13,161 1,539 Total operating expenses 54,791,956 28,741588 26,050,368 422,010 401,344 20,666 - Operating income(loss) (21,348,456) 1,699,891 23,048,347 (115,010) (95,951) 19,059 Non-operating revenues(expenses): - Interest income 2,025,400 4,682,635 2,657,235 81,700 86,409 4,709 Cash contributions received - 7,876,819 7,876,819 - - - Proceeds from the disposal of fixed assets - 23,685 23,685 - - - Proceeds from bonds 507,830 507,799 (31) - Proceeds from loans 309,307 309,307 - - - - Principal payments (4,078,100) (3,874,920) 203,180 (225,300) (224,492) 808 Interest and fiscal charges (8,206,530) (6,955,174) 1,251,356 (65,200) (59,143) 6,057 Miscellaneous - - - - - - - Entitlements and grants - 222,225 222,225 - - - Total non-operating revenues(expenses) (9,442,093) 2,792,376 12,234,469 (208,800) (197,226) 11,574 Income(loss)before operating transfers (30,790,549) 4,492,267 35,282,816 (323,810) (293,177) 30,633 Operating transfers: Operating transfers in - 18,613 18,613 - - - Operating transfers out (1,361,349) (156,528) 1,204,821 - - - ,.., Total operating transfers (1,361,349) (137,915) 1,223,434 - - - Net income(loss) (32,151,898) 4,354,352 36,506,250 (323,810) (293,177) 30,633 Retained earnings-Oct 1 as previously reported 40,608,205 40,608,205 - 508,623 508,623 - Cumulative effect of change - in accounting principle(Note 21) - - - - - - Retained earnings-Oct 1 restated 40,608,205 40,608,205 - 508,623 508,623 - Residual equity transfer out - (1,200,000) (1,200,000) - - - Retained earnings at end of year $ 8,456,307$ 43,762,557$ 35,306.250$ 184,813$ 215,446$ 30.633 Reconciliation: - Net income(loss)(budgetary basis) $ 4,354,352 $ (293,177) Capital outlay 14,290,936 13,161 Principal payments 3,874,920 224,492 Landfill closure costs - - - Allowance for doubtful accounts - - Depreciation and amortization (7,161,082) (115,013) Cash contributions received (7,876,819) - Proceeds from bonds (507.799) - Proceeds from loans (309,307) - Interest income(expense) 1,846,570 - Non cash loss on diposal of assets (28,365) - Grants and entitlements (222,225) - - Net income(loss)(GAAP basis) $ 8,261,181 $ (170,537) Goodland Water(Non-GAAP) Solid Waste Disposal(Non-GAAP) - Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) - $ 102,000$ 100,634$ (1,366)$ 11,277,800 $ 11,412,768$ 134,968 102,000 100,634 (1,366) 11,277,800 11,412,768 134,968 29,400 13,981 15,419 1,370,800 1,190,601 180,199 135,175 128,511 6,664 9,131,300 6,934,051 2,197,249 - - - 7,341,185 2,486,762 4,854,423 164,575 142,492 22,083 17,843,285 10,611,414 7,231,871 (62,575) (41,858) 20,717 (6,565,485) 801,354 7,366,839 25,900 35,507 9,607 247,000 780,209 533,209 - - - 4,600 25,610 21,010 (105,000) (105,000) - - - - (14,525) (14,091) 434 - - - - - 417,125 373,992 (43,133) (93,625) (83,584) 10,041 668,725 1,179,811 511,086 - (156,200) (125,442) 30,758 (5,896,760) 1,981,165 7,877,925 - - - - 63,723 63,723 - - - - (231,000) (230,410) 590 - - - (231,000) (166,687) 64,313 - (156,200) (125,442) 30,758 (6,127,760) 1,814,478 7,942,238 251,155 251,155 - 17,770,136 17,770,136 - - - - - 1,885,915 1,885,915 251,155 251,155 - 17,770,136 19,656,051 1,885,915 - $ 94,955$ 125.713$ 30,758$ 11,642.376$ 21,470,529$ 9,828,153 - (CONTINUED) $ (125,442) $ 1,814,478 - 2,486,762 105,000 - - - (871,022) (57,723) (1,075,419) - (45,976) $ (78,165) $ 2,308,823 73 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN RETAINED EARNINGS BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL - ALL ENTERPRISE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Emergency Medical Services(Non-GAAP) Airport Authority(Non-GAAP) - Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Operating revenues: Charges for services $ 2,400,000$ 3,630,715$ 1,230,715$ 465,200$ 435,096$ (30,104) Total operating revenues 2,400,000 3,630,715 1,230,715 465,200 435,096 (30,104) Operating expenses: Personal services 3,684,115 3,501,423 182,692 161,600 146,866 14,734 Operating 958,630 894,902 63,728 596,800 250,459 346,341 Capital outlay 234,322 186,485 47,837 3,100 - 3,100 Total operating expenses 4,877,067 4,582,810 294,257 761,500 397,325 364,175 Operating income(loss) (2,477,067) (952,095) 1,524,972 (296,300) 37,771 334,071 - Non-operating revenues(expenses): Interest income 20,811 57,077 36,266 1,700 5,126 3,426 Cash contributions received - - - - - - Proceeds from the disposal of fixed assets 30,883 34,330 3,447 - - - .-. Proceeds from bonds - - - - - - Proceeds from loans - - - 291,700 209,745 (81,955) Principal payments (77,200) (67,603) 9,597 - - - Interest and fiscal charges - (6,109) (6,109) - - - .- Miscellaneous - 138 138 - - - Entitlements and grants 47,943 47,943 - - - - Total non-operating revenues(expenses) 22,437 65,776 43,339 293,400 214,871 (78,529) Income(loss)before operating transfers (2,454,630) (886,319) 1,568,311 (2,900) 252,642 255,542 Operating transfers: Operating transfers in 1,934,715 1,934,715 - - - - ..- Operating Operating transfers out - - - - - - Total operating transfers 1,934,715 1,934,715 - - - - - Net income(loss) (519,915) 1,048,396 1,568,311 (2,900) 252,642 255,542 Retained earnings-Oct 1 as previously reported 1,071,230 1,071,230 - 150,530 150,530 - Cumulative effect of change in accounting principle(Note 21) - - - - - - Retained earnings-Oct 1 restated 1,071,230 1,071,230 - 150,530 150,530 - - Residual equity transfer out - - - - - - Retained earnings at end of year $ 551,315$ 2,119,626$ 1,568,311 $ 147,630$ 403.172 $ 255,542 - Reconciliation: Net income(Ioss)(budgetary basis) $ 1,048,396 $ 252,642 Capital outlay 186,485 - Principal payments 67,603 - -- Landfill closure costs - - Allowance for doubtful accounts (887,753) - Depreciation and amortization (318,583) (3,932) Cash contributions received - - - Proceeds from bonds - - Proceeds from loans - (209,745) Interest income(expense) - - Non cash loss on diposal of assets (17,383) - Grants and entitlements - - r Net income(loss)(GAAP basis) $ 78,765 $ 38,965 Total _ Variance Favorable Budget Actual (Unfavorable) $ 47,995,500$ 46,326,085$ (1,669,415) 47,995,500 46,326,085 (1,669,415) 12,308,488 11,565,877 742,611 30,511,149 19,613,028 10,898,121 36,040,756 13,698,068 22,342,688 78,860,393 44,876,973 33,983,420 (30,864,893) 1,449,112 32,314,005 2,402,511 5,646,963 3,244,452 7,876,819 7,876,819 35,483 83,625 48,142 -. 507,830 507,799 (31) 601,007 519,052 (81,955) (4,485,600) (4,272,015) 213,585 (8,286,255) (7,034,517) 1,251,738 _ - 138 138 465,068 644,160 179,092 (8,759,956) 3,972,024 12,731,980 (39,624,849) 5,421,136 45,045,985 1,934,715 2,017,051 82,336 — (1592,349) (386,938) 1,205,411 342,366 1,630,113 1,287,747 (39,282,483) 7,051,249 46,333,732 60,359,879 60,359,879 - 1,885,915 1,885,915 60,359,879 62,245,794 1,885,915 - (1,200,000) (1,200,000) $ 21,077.396$ 68.097,043$ 47.019,647 $ 7,051,249 16,977,344 4,272,015 (871,022) (887,753) (8,731,752) (7,876,819) (507,799) (519,052) 1,846,570 (91,724) (222,225) $ 10.439,032 74 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF CASH FLOWS ALL ENTERPRISE FUNDS — FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 County Marco Water Goodland Solid Waste Water and Sewer And Sewer Water Disposal Cash flows from operating activities: Cash received for services $ 30,990,310 $ 315,734 $ 104,191 $ 11,299,863 Cash operating grants received — — — 405,632 Cash received from customer deposits 353,852 3,161 280 — Cash received for other governments 1,568,222 — — — .."" Cash payments for goods and services (7,913,595) (359,106) (134,242) (6,728,914) Cash payments to employees (6,704,891) (53,249) (13,745) (1,223,857) Cash payments to other governments (1,558,686) — — — Net cash provided by(used for) — operating activities 16,735,212 (93,460) (43,516) 3,752,724 Cash flows from non—capital financing activities: Cash transfers from other funds 72,672 — — — Cash transfers to other funds (1,411,014) — — (230,410) Net cash provided by(used for)non— capital financing activities (1,338,342) — — (230,410) Cash flows from capital and related financing activities: Cash contributions received 11,334,318 130,711 19,539 — Receipts form capital grants 993,485 — — — - Proceeds from disposal of fixed assets 23,685 — — 25,610 Proceeds from loans 959,360 — — — Proceeds from bonds 63,303,550 — — — Payments for capital acquisitions (13,687,187) (13,161) — (2,202,553) Payments to escrow agent on defeased bonds (63,498,402) — — — Principal and interest payments on matured bonds (5,399) (225,292) — — Principal payments on bonds (3,344,167) — (105,000) — Principal payments on notes (530,753) — — — — Interest and fiscal agent fees paid (7,372,836) (64,694) (14,524) — Net cash provided by(used for)capital and related financing activities (11,824,346) (172,436) (99,985) (2,176,943) Cash flows from investing activities: Interest and dividends on investments 4,674,964 87,126 33,946 722,947 Net cash provided by investing activities 4,674,964 87,126 33,946 722,947 ..... Net increase(decrease)in cash 8,247,488 (178,770) (109,555) 2,068,318 Cash,October 1,1993(including $54,060,736 in restricted cash) 54,702,140 1,030,887 561,740 11,601,476 Cash,September 30,1994(including $50,933,099 in restricted cash) $ 62,949,628 $ 852,117 $ 452,185 $ 13,669,794 NMI Emergency Medical Airport Services Authority Total $ 2,572,683 $ 412,519 $ 45,695,300 47,943 1,700 455,275 357,293 - 1,568,222 (897,701) (247,399) (16,280,957) (3,509,954) (146,567) (11,652,263) - (1,558,686) (1,787,029) 20,253 18,584,184 '-' 1,934,715 81,955 2,089,342 - (1,641,424) 1,934,715 81,955 447,918 AMIN 138 - 11,484,706 993,485 34,331 - 83,626 209,745 1,169,105 - 63,303,550 (186,485) - (16,089,386) (63,498,402) - - (230,691) - (3,449,167) (67,603) - (598,356) (9,584) - (7,461,638) (229,203) 209,745 (14,293,168) 53,908 4,501 5,577,392 53,908 4,501 5,577,392 (27,609) 316,454 10,316,326 767,925 105,945 68,770,113 $ 740,316 $ 422,399 $ 79,086,439 (CONTINUED) 75 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF CASH FLOWS ALL ENTERPRISE FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 .__ RECONCILIATION OF OPERATING INCOME TO - NET CASH PROVIDED BY OPERATING ACTIVITIES County Marco Water Goodland Solid Waste Water and Sewer And Sewer Water Disposal Operating income(loss) $ 8,829,745 $ (197,803)$ (99,581)$ 1,341,675 Adjustment to reconcile operating income to net cash provided by(used for)operating activities: Depreciation expense 7,059,048 107,119 57,723 321,450 Amortization of capital improvement projects - - - 753,969 Amortization of bond issuance costs 102,034 7,894 - - - (Increase)decrease in accounts receivable 576,936 10,341 3,557 (101,959) (Increase)in due from other funds (14,959) - - (9,646) (Increase)decrease in due from other governments (10,134) - - 31,640 (Increase)in prepaid costs (5,000) - - - "" (Increase)decrease in inventory (60,239) - 95 - Increase(decrease)in vouchers payable (39,170) (22,851) (5,826) 204,082 Increase in due to other funds 13,589 - - 1,055 - (Decrease)in accrued wages (76,830) (1,717) (31) (21,365) Increase(decrease)in compensated absences 33,018 396 267 (11,891) Increase(decrease)in due to other governments (26,678) - - - Increase(decrease)in customer deposits payable 353,852 3,161 280 (1,300) Increase in landfill closure liability - - - 871,022 Net cash flow related to operating grants - - - 373,992 Total adjustments 7,905,467 104,343 56,065 2,411,049 MOM Net cash provided by(used for)operating activities $ 16,735,212 $ (93,460)$ (43,516)$ 3,752,724 Schedule of Non-cash Investing,Capital and Financing Activities There were non-cash developer contributions of$7,411,431 in the County Water and Sewer District Fund. In addition,the County Water and Sewer District Fund incurred non-cash losses on the disposal of fixed assets junked or written off with a "" depreciated value of$28,365. The original cost of these assets was$109,347 with$80,982 in accumulated depreciation. The County Water and Sewer District Fund is amortizing a deferred charge related to the defeasance of bonds in the amount of$6,613,275 over a period of 27 years.The current year's amortization of this defered charge was$207,710. MONO There were non-cash developer contributions of$33,781 in the Goodland Water District Fund.There were also non-cash customer contributions of$85,055 in the Goodland Water District Fund. The Solid Waste Fund received contributions of assets from the General Fixed Assets Account Group with a depreciated value of$72,919. The original cost of these assets was$83,750 with$10,831 in accumulated depreciation. In addition,the Solid Waste Fund incurred non-cash losses on the disposal of fixed assets junked,written off or traded with a depreciated value of$45,976. The original cost of these assets was$114,461 with$68,485 in accumulated depreciation. The Emergency Medical Services Fund received contributions of assets from the General Fixed Assets Account Group with a depreciated value of$16,592. The original cost of these assets was$17,104 with$512 in accumulated depreciation. In addition,the Emergency Medical Services Fund incurred non-cash losses on the disposal of fixed assets junked or written off with a depreciated value of$17,383. The original cost of these assets was$273,499 with$256,116 in accumulated depreciation. The Airport Authority Fund received contributions of assets from the General Fixed Assets Account Group with a depreciated value of$689. The original cost of these assets was$3,015 with$2,326 in accumulated depreciation. MINN Emergency Medical Airport Services Authority Total $ (1,971,946)$ 33,839 $ 7,935,929 318,583 3,932 7,867,855 - - 753,969 109,928 (170,279) (22,577) 296,019 - - (24,605) - - 21,506 - (5,000) (27,209) 3,562 (83,791) 23,308 (616) 158,927 1,102 - 15,746 (42,478) (1,475) (143,896) 33,947 1,774 57,511 alma - 114 (26,564) - 1,700 357,693 - - 871,022 47,943 - 421,935 184,917 (13,586) 10,648,255 $ (1,787,029)$ 20,253 $ 18,584,184 76 THIS PAGE INTENTIONALLY LEFT BLANK INTERNAL SERVICE FUNDS AUTOMATED INFORMATION SYSTEMS -TO ACCOUNT FOR EXPENSES RELATED TO PROVIDING COMMUNICATION SERVICES TO THE OTHER DEPARTMENTS AND AGENCIES OF THE COUNTY. DATA PROCESSING-TO ACCOUNT FOR EXPENSES RELATED TO PROVIDING DATA PROCESSING SERVICES TO THE OTHER DEPARTMENTS AND AGENCIES OF THE COUNTY. RECORDS MANAGEMENT-TO ACCOUNT FOR EXPENSES RELATED TO PROVIDING MICROFILMING SERVICES TO THE OTHER DEPARTMENTS AND AGENCIES OF THE COUNTY. SELF INSURANCE-TO ACCOUNT FOR THE SELF INSURANCE COSTS OF PROVIDING COVERAGE FOR PROPERTY, GENERAL AND VEHICLE LIABILITY. -TO ACCOUNT FOR THE PROVISIONS OF HEALTH BENEFITS TO COUNTY EMPLOYEES AND THEIR DEPENDENTS. -TO ACCOUNT FOR PAYMENT OF WORKERS COMPENSATION CLAIMS, IN LIEU OF INSURANCE. SHERIFF'S SELF INSURANCE -TO ACCOUNT FOR THE PROVISIONS OF HEALTH BENEFITS TO SHERIFF EMPLOYEES AND THEIR DEPENDENTS. -TO ACCOUNT FOR PAYMENT OF WORKERS COMPENSATION CLAIMS, IN LIEU OF INSURANCE. FLEET MANAGEMENT-TO ACCOUNT FOR FUEL, OIL, LUBRICANTS, REPAIRS AND MAINTENANCE OF COUNTY VEHICLES AND THE USE OF CERTAIN COUNTY OWNED VEHICLES BY COUNTY EMPLOYEES. COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET ALL INTERNAL SERVICE FUNDS SEPTEMBER 30,1994 _. Automated Information Data Records Self ASSETS Systems Processing Management Insurance Current assets: Cash and investments $ 132,483$ — $ — $ 6,809,054 Receivables: Interest 1,068 — — 43,095 ,� Due from other funds — — — 1,084 Due from other governments — — — — Advances and deposits — — — — Inventory — — — — _ Prepaid costs 37,723 — — — Total current assets 171,274 — — 6,853,233 Property,plant and equipment: Buildings — — — — Equipment 753,885 — — 20,160 753,885 — — 20,160 Less accumulated depreciation (237,304) — — (13,122) r Net property,plant and equipment 516,581 — — 7,038 Total assets $ 687,855$ — $ — $ 6,860,271 LIABILITIES AND FUND EQUITY Current liabilities: Vouchers payable and accruals $ 2,097 $ — $ — $ 199,094 Self—Insurance claims payable — — — 1,175,389 Current maturities of lease obligations 155,923 — — — Retired employee deposits — — — 8,283 Total current liabilities 158,020 — — 1,382,766 Long term liabilities: Capitalized lease obligation 123,168 — — — Self—Insurance claims payable — 4,107,554 Accrued compensated absences 5,496 — — 15,270 Total long term liabilities 128,664 — — 4,122,824 Total liabilities 286,684 — — 5,505,590 Fund equity: Contributed capital 158,294 — — 7,111 Retained earnings: Unreserved 242,877 — — 1,347,570 Total fund equity 401,171 — — 1,354,681 Total liabilities and fund equity $ 687,855 $ — $ — $ 6,860,271 P. Sheriff's Self Fleet Insurance Management Total $ 1,240,005 $ 763,084 $ 8,944,626 ... - 4,663 48,826 4,220 5,304 14,751 14,751 870 870 _ - 160,155 180,155 - - 37,723 1,240,005 947,743 9,212,255 - 146,123 146,123 - 2,881,962 3,656,007 - 3,028,085 3,802,130 - (1,480,691) (1,731,117) 1,547,394 2,071,013 $ 1,240,005 $ 2,495,137 $ 11,283,268 $ - $ 174,958$ 376,149 301,000 - 1,476,389 155,923 8,283 301,000 174,958 2,016,744 123,168 - - 4,107,554 31,391 52,157 - 31,391 4,282,879 301,000 206,349 6,299,623 835,122 1,000,527 939,005 1,453,666 3,983,118 939,005 2,288,788 4,983,645 $ 1,240,005 $ 2,495,137 $ 11,283,268 77 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENSES AND CHANGES IN RETAINED EARNINGS ALL INTERNAL SERVICE FUNDS ..., FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Automated Information Data Records Self Systems Processing Management Insurance Operating revenues: Charges for services $ 413,552 $ — $ — $ 9,255,083 Total operating revenues 413,552 — — 9,255,083 .., Operating expenses: Personal services 79,597 — — 240,229 Operating 116,030 — — 8,003,789 '^ Depreciation 108,637 — — 2,181 Total operating expenses 304,264 — — 8,246,199 Operating income 109,288 — — 1,008,884 Non—operating revenues(expenses): Interest income 7,405 — — 292,011 -- Interest expense (21,385) — — — Gain(loss)on disposal of fixed assets (6,106) — — (2,080) Total non—operating revenues(expenses) (20,086) — — 289,931 — Income before operating transfers 89,202 — — 1,298,815 Operating transfers: Operating transfer in 7,200 — — — Total operating transfers 7,200 — — — Net income 96,402 — — 1,298,815 Depreciation of contributed assets 18,826 — — 1,824 Increase in retained earnings 115,228 — — 1,300,639 Retained earnings at beginning of year 127,649 788,748 28,134 46,931 -- Residual equity transfer out — (788,748) (28,134) — Retained earnings at end of year $ 242,877 $ — $ — $ 1,347,570 Sheriff's Self Fleet Insurance Management Total $ 2,838,009 $ 2,824,144 $ 15,330,788 �.. 2,838,009 2,824,144 15,330,788 - 595,779 915,605 1,929,517 1,892,083 11,941,419 317,146 427,964 1,929,517 2,805,008 13,284,988 908,492 19,136 2,045,800 30,513 46,544 376,473 - - (21,385) 13,791 5,605 30,513 60,335 360,693 939,005 79,471 2,406,493 35,000 42,200 35,000 42,200 939,005 114,471 2,448,693 196,320 216,970 939,005 310,791 2,665,663 1,142,875 2,134,337 (816,882) $ 939,005 $ 1,453,666 $ 3,983,118 78 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN RETAINED EARNINGS BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL ALL INTERNAL SERVICE FUNDS FOR THE YEAR ENDING SEPTEMBER 30,1994 Automated Information Systems(Non-GAAP) Self Insurance(Non-GAAP) Variance Variance ..... Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Operating revenues: Charges for services $ 384,000 $ 413,552 $ 29,552$ 13,694,000 $ 9,255,083$ (4,438,917) .... Total operating revenues 384,000 413,552 29,552 13,694,000 9,255,083 (4,438,917) Operating expenses: Personal services 79,451 79,597 (146) 275,400 240,229 35,171 Operating 83,249 87,594 (4,345) 13,287,200 7,734,746 5,552,454 Capital outlay 7,400 5,219 2,181 6,600 3,098 3,502 Total operating expenses 170,100 172,410 (2,310) 13,569,200 7,978,073 5,591,127 Operating income(loss) 213,900 241,142 27,242 124,800 1,277,010 1,152,210 Non-operating revenues(expenses): Interest income 500 7,405 6,905 170,700 292,011 121,311 Proceeds from the disposal of fixed assets - - - - - - Principal payments (175,000) (146,938) 28,062 - - - ..., Interest expense - (21,385) (21,385) - - - Total non-operating revenues(expenses): (174,500) (160,918) 13,582 170,700 292,011 121,311 MIMI Income(loss)before operating transfers 39,400 80,224 40,824 295,500 1,569,021 1,273,521 Operating transfers: Operating transfers in 7,200 7,200 - - - - Total operating transfers 7,200 7,200 - - - - Net income(loss) 46,600 87,424 40,824 295,500 1,569,021 1,273,521 Retained earnings at beginning of year 127,649 127,649 - 46,931 46,931 - Retained earnings at end of year $ 174,249$ 215,073 $ 40,824 $ 342,431 $ 1,615,952$ 1,273,521 Reconciliation: Net income(loss) (budgetary basis) $ 87,424 $ 1,569,021 Capital outlay 5,219 3,098 Prinicpal payments 146,938 - Depreciation (108,637) (2,181) Self-insurance claims payable - (269,043) Loss on disposal of fixed assets (6,106) (2,080) Expired prepaid expenses (28,436) - Net income(loss)(GAAP basis) $ 96,402 $ 1,298,815 Fleet Management(Non-GAAP) Total Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 3,149,600$ 2,824,144$ (325,456)$ 17,227,600 $ 12,492,779 (4,734,821) 3,149,600 2,824,144 (325,456) 17,227,600 12,492,779 (4,734,821) - 614,800 595,779 19,021 969,651 915,605 54,046 2,187,500 1,892,083 295,417 15,557,949 9,714,423 5,843,526 923,066 826,252 96,814 937,066 834,569 102,497 - 3,725,366 3,314,114 411,252 17,464,666 11,464,597 6,000,069 (575,766) (489,970) 85,796 (237,066) 1,028,182 1,265,248 32,000 46,544 14,544 203,200 345,960 142,760 63,800 16,775 (47,025) 63,800 16,775 (47,025) - - - (175,000) (146,938) 28,062 - - - - (21,385) (21,385) 95,800 63,319 (32,481) 92,000 194,412 102,412 - (479,966) (426,651) 53,315 (145,066) 1,222,594 1,367,660 35,000 35,000 - 42,200 42,200 - - 35,000 35,000 - 42,200 42,200 - (444,966) (391,651) 53,315 (102,866) 1,264,794 1,367,660 - 1,142,875 1,142,875 - 1,317,455 1,317,455 - $ 697,909 $ 751,224 $ 53,315 $ 1,214,589$ 2,582,249 1,367,660 $ (391,651) $ 1,264,794 826,252 834,569 - 146,938 (317,146) (427,964) - (269,043) (2,984) (11,170) - (28,436) $ 114,471 $ 1,509,688 79 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF CASH FLOWS ALL INTERNAL SERVICE FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 — • Automated _ Information Data Records Self Systems Processing Management Insurance Cash flows from operating activities: Cash received from other funds . for goods and services $ 413,552$ —$ — $ 9,255,191 Cash received from retirees for services — — — 119,641 Cash payments for goods and services (92,038) — — (8,253,695) .... Cash payments to employees (80,248) — — (224,770) Net cash provided by operating activities 241,266 — — 896,367 Cash flows from noncapital financing activities: Cash transfers from other funds 7,200 — — — Cash transfers to other funds — (351,996) (32,132) — """ Net cash provided by(used for) noncapital financing activities 7,200 (351,996) (32,132) — Cash flows from capital and related financing activities: Proceeds from disposal of fixed assets — — — — Payments for capital acquisitions (5,219) — — (3,098) Principal payments on capital leases (146,938) — — — Interest paid (21,385) — — — Net cash used for capital and related financing activities (173,542) — — (3,098) -- Cash flow from investing activities: Interest and dividends on investments 6,557 — — 266,853 Net cash provided by investing activities 6,557 — — 266,853 Net increase(decrease)in cash 81,481 (351,996) (32,132) 1,160,122 Cash,October 1,1993 51,002 351,996 32,132 5,648,932 Cash,September 30,1994 $ 132,483 $ — $ — $ 6,809,054 Sheriff's Self Fleet Insurance Management Total $ 2,800,000 $ 2,841,147 $ 15,309,890 38,009 - 157,650 _ (1,628,517) (1,829,810) (11,804,060) (595,853) (900,871) 1,209,492 415,484 2,762,609 35,000 42,200 - - (384,128) 35,000 (341,928) - 16,775 16,775 - (826,252) (834,569) - - (146,938) (21,385) - (809,477) (986,117) 30,513 45,243 349,166 30,513 45,243 349,166 1,240,005 (313,750) 1,783,730 1,076,834 7,160,896 $ 1,240,005 $ 763,084 $ 8,944,626 (CONTINUED) 80 COLLIER COUNTY,FLORIDA -' COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS -CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES — Automated Information Data Records Self -- Systems Processing Management Insurance Operating income $ 109,288 $ -$ - $ 1,008,884 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 108,637 - - 2,181 Decrease in accounts receivable - - - 206,049 .... Decrease in due from other funds - - - 108 (Increase)in due from other governments - - - - (Increase)in advances and deposits - - - - — Decrease in prepaid costs 28,436 - - - (Increase)in inventory - - - - Increase(decrease)in vouchers payable (4,444) - - (45,918) (Decrease)in accrued wages (796) - - (2,266) .-. Increase in compensated absences 145 - - 2,836 (Decrease)in retired employee deposits - - - (7,938) Increase(decrease)in self-insurance claims payable - - - (267,569) -. Total adjustments 131,978 - - (112,517) Net cash provided by operating activities $ 241,266 $ - $ - $ 896.367 "' Schedule of Non-cash Investing,Capital,and Financing Activities The Automated Information Systems Fund transferred fixed assets to the General Fixed Assets Account Group with an original cost of$17,146 and accumulated depreciation of$11,040 for a non-cash loss of$6,106. The Self Insurance Fund incurred a non-cash loss on the disposal of assets junked,written off or traded with a depreciated .... value of$2,080.The original cost of the assets was$3,959 with$1,879 in accumulated depreciation.In addition,the Self Insurance Fund received contributions of assets from the General Fixed Assets Account Group with an original cost of$625. The Fleet Management Fund incurred a non-cash loss on the disposal of junked fixed assets with a depreciated cost of$63,763. "' The original cost of these assets was$138,824 with$75,061 in accumulated depreciation. Sheriffs Self Fleet Insurance Management Total 908,492$ 19,136 $ 2,045,800 $ - 317,146 427,964 - 206,049 16,842 16,950 - 161 161 - (210) (210) 28,436 (12,903) (12,903) 75,386 25,024 (5,770) (8,832) 5,696 8,677 - (7,938) 301,000 - 33,431 301,000 396,348 716,809 $ 1,209,492 $ 415,484 $ 2,762,609 81 THIS PAGE INTENTIONALLY LEFT BLANK FIDUCIARY FUNDS MAJOR EXPENDABLE TRUSTS CONFISCATED PROPERTY TRUST FUND-TO ACCOUNT FOR THE PROCEEDS FROM THE SALE OF CONFISCATED PROPERTY TO BE USED FOR LAW ENFORCEMENT PURPOSES. LAW ENFORCEMENT TRAINING TRUST FUND-TO ACCOUNT FOR THE COURT FINES ASSESSED TO BE USED FOR LAW ENFORCEMENT TRAINING PURPOSES. GAC ROADS.CANALS AND LAND TRUST FUND-TO ACCOUNT FOR APPROXIMATELY ONE MILLION THREE HUNDRED THOUSAND DOLLARS ($1,300,000) IN PRINCIPAL AND SETTLEMENT FEES RECEIVED FROM A 1977 SETTLEMENT WITH GAC PROPERTIES, INC.,AND INTEREST THEREON TO BE EXPENDED FOR THE RESTORATION AND MAINTENANCE OF CERTAIN UNACCEPTED ROADS WITHIN THE GOLDEN GATE ESTATES AREA TO DEVELOP FACILITIES OTHER THAN ROADS AND DRAINAGE IMPROVEMENTS IN THE GOLDEN GATE ESTATES AREA. THE FOLLOWING ARE THE REMAINING FIDUCIARY FUNDS: EXPENDABLE TRUSTS ANIMAL CONTROL COUNTY DRUG ABUSE PUBLIC LIBRARY CRIMINAL JUSTICE LAW LIBRARY IMPACT FEES ESCROW INMATE WELFARE AGENCY DEFERRED COMPENSATION CLERK OF COURTS SHERIFF PROPERTY APPRAISER ... TAX COLLECTOR SUPERVISOR OF ELECTIONS DEPOSITS _ PELICAN BAY IMPROVEMENT DISTRICT PINE RIDGE AND NAPLES PRODUCTION PARK THIS PAGE INTENTIONALLY LEFT BLANK COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET ALL FIDUCIARY FUNDS - SEPTEMBER 30,1994 EXPENDABLE TRUST FUNDS Animal Public Law Inmate County Criminal ASSETS Control Library Library Welfare Drug Abuse Justice Cash and investments $ 103,181 $ 74,427$ 17,357$ 74,092 $ 1,420 $ 59,986 Investments with trustee - - - - Receivables: Interest 698 488 - - 250 297 Other - - - _ - - - Due from other funds - - 218 18,693 846 21,774 Due from other governments - - - - - - Inventory - - - 5,255 - - - Total assets $ 103,879$ 74,915 $ 17.575$ 98.040$ 2,516 $ 82.057 LIABILITIES AND FUND BALANCES Liabilities: Vouchers payable and accruals $ 7,159$ 488 $ 20 $ 813 $ - $ - Due to other funds - - 32 7,181 Bonds and deposits - - - - - Due to other governments - - - - _ - Due to individuals - - - - _ Deferred revenues - - - - - Refundable deposits - - - - Escrowed impact fees - - - - - - Due to holders of special assessment bonds - - - - Total liabilities 7,159 488 52 7,994 - - OEM Fund balances: Reserved for: - - Encumbrances - - - - Trust fund purposes 96,720 74,427 17,523 90,046 2,516 82,057 Total fund equity 96,720 74,427 17,523 90,046 2,516 82,057 Total liabilities and fund balances $ 103,879 $ 74,915 $ 17.575 $ 98,040$ 2,516 $ 82,057 (CONTINUED) 82 COLLIER COUNTY,FLORIDA COMBINING BALANCE SHEET ALL FIDUCIARY FUNDS-CONTINUED _ SEPTEMBER 30,1994 _ AGENCY EXPENDABLE TRUST FUNDS FUNDS Law Confiscated Enforcement GAC Land Sales, Impact Fees Deferred Clerk of ASSETS Property Training Roads and Canals Escrow Compensation Courts Cash and investments $ 441,387$ 18,293$ 556,953$ 1,138,786$ - $ 3,238,882 Investments with trustee - - - - 3,088,932 828,946 Receivables: —' Interest 3,451 150 3,576 7,411 - - Other - - - - - - Due from other funds - 3,444 - - - - Due from other goverments - - - - - - Inventory - - 1,379,495 - - 82,610 Total assets $ 444,838$ 21.887 $ 1,940.024 $ 1,146,197$ 3.088,932 $ 4,150,438 LIABILITIES AND FUND BALANCES Liabilities: Vouchers payable and accruals $ - $ - $ 45 $ -$ - $ 697 Due to other funds 33,566 - - - - 272,311 Bonds and deposits - - - - - - Due to other governments - - - - - 766,965 Due to individuals - - - - 3,088,932 828,946 Deferred revenues - - 1,379,495 - - - Refundable deposits - - 170 - - 2,281,519 Escrowed impact fees - - - 777,708 - - Due to holders of special — assessment bonds - - - - - - Total liabilities 33,566 - 1,379,710 777,708 3,088,932 4,150,438 Fund balances: Reserved for: Encumbrances - - 74,638 - - - Trust fund purposes 411,272 21,887 485,676 368,489 - - — Total fund equity 411,272 21,887 560,314 368,489 - - Totalliabilitiesandfund balances $ 444.838$ 21,887$ 1,940,024 $ 1,146,197$ 3,088,932 $ 4,150,438 AGENCY FUNDS Supervisor Pelican Bay Pine Ridge Property Tax of Improvement and Naples Sheriff Appraiser Collector Elections Deposits District Production Park Total $ 70,302 $ -$ 2,545,971 $ -$ 1,299,086$ -$ 3,977,102$ 13,617,225 754,049 460,105 595,938 - - - - 5,727,970 - - - - - 13,199 - 28,116 57,636 6,010 - - - - - 13,636 19,646 - 204 - 1,944 - - - 16,448 63,571 2,210 - - - - - - 2,210 - - - - - - - 1,467,360 $ 832,775$ 460.105$ 3.143,853$ -$ 1,312.285$ - $ 4.035,302$ 20,955.618 $ 264 $ -$ - $ -$ -$ -$ -$ 9,486 - 40,878 - 484,403 - 64,235 - - 902,606 37,584 - - - - - - 37,584 - - 1,675,060 - - - - 2,442,025 754,049 460,105 984,390 - - - - 6,116,422 - - - - - - - - 1,379,495 - - - - 1,248,050 - - 3,529,739 - - - - - - - 777,708 - - - - - - - 4,035,302 4,035,302 832,775 460,105 3,143,853 - 1,312,285 - 4,035,302 19,230,367 - - - - - - - 74,638 - - - - - - - - 1,650,613 - - - - - - - 1,725,251 $ 832,775$ 460,105$ 3.143,853$ -$ 1.312.285$ - $ 4.035.302 $ 20,955,618 - 83 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES FIDUCIARY FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 EXPENDABLE TRUST FUNDS - Animal Public Law Inmate County Criminal -- Control Library Library Welfare Drug Abuse Justice Revenues: Licenses and permits $ 10,081 $ - $ - $ -$ -$ - - Charges for services 22,117 - 90,326 302,800 - - Fines and forfeitures - - - - 12,215 297,178 Interest income 5,091 3,313 - - 2,290 915 Miscellaneous 7,017 9,136 570 - - - -' Total revenues 44,306 12,449 90,896 302,800 14,505 298,093 Expenditures: General government - - 81,602 - 54,675 - Public safety - - - 257,750 - - Transportation - - - - - - Human services 40,522 - - - - - Culture and recreation - 488 - - - - Total expenditures 40,522 488 81,602 257,750 54,675 - Excess of revenues over (under)expenditures 3,784 11,961 9,294 45,050 (40,170) 298,093 Other financing sources(uses): Operating transfers out - - - - - (285,000) Total other financing sources (uses) - - - - - (285,000) Excess of revenues and other sources over(under)expen- ditures and other uses 3,784 11,961 9,294 45,050 (40,170) 13,093 Fund balances at beginning of year 92,936 62,466 8,229 44,996 42,686 68,964 Fund balances at end of year $ 96,720 $ 74.427 $ 17,523$ 90,046 $ 2,516 $ 82,057 EXPENDABLE TRUST FUNDS Law Confiscated Enforcement GAC Land Sales, Impact Fees Property Training Roads and Canals Escrow Total $ — $ —$ —$ —$ 10,081 — — — — 415,243 243,120 40,660 — — 593,173 — 25,081 1,148 33,330 59,995 131,163 — — — — 16,723 — 268,201 41,808 33,330 59,995 1,166,383 — — — — — 136,277 320,136 45,210 — — 623,096 — — 579,232 — 579,232 — — — — 40,522 — — — — 488 320,136 45,210 579,232 — 1,379,615 (51,935) (3,402) (545,902) 59,995 (213,232) (56,841) — — — (341,841) (56,841) — — — (341,841) (108,776) (3,402) (545,902) 59,995 (555,073) 520,048 25,289 1,106,216 308,494 2,280,324 $ 411.272 $ 21.887$ 560.314$ 368.489$ 1.725,251 84 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL FIDUCIARY FUNDS - FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 - EXPENDABLE TRUST FUNDS Animal Control Public Library Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Licenses and permits $ 13,000$ 10,081 $ (2,919)$ -$ - $ - Charges for services 19,000 22,117 3,117 - - - Rnes and forfeitures - - - - - - Interest income 4,700 5,091 391 3,000 3,313 313 Miscellaneous 7,100 7,017 (83) 13,079 9,136 (3,943) Total revenues 43,800 44,306 506 16,079 12,449 (3,630) Expenditures: General government - - - - - - Public safety - - - - - - Transportation - - - - - - Human services 129,100 40,522 88,578 - - - - Culture and recreation - - - 101,279 488 100,791 Total expenditures 129,100 40,522 88,578 101,279 488 100,791 Excess of revenues over (under)expenditures (85,300) 3,784 89,084 (85,200) 11,961 97,161 Other financing sources(uses): Operating transfers out - - - - - - Total other financing sources (uses) - - - - - - Excess of revenues and other sources over(under)expen- ditures and other uses (85,300) 3,784 89,084 (85,200) 11,961 97,161 Fund balances at beginning of year 92,936 92,936 - 62,466 62,466 - Fund balances at end of year $ 7,636 $ 96,720$ 89.084$ (22,734)$ 74.427 $ 97,161 EXPENDABLE TRUST FUNDS County Drug Abuse Criminal Justice — Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ — $ —$ —$ —$ —$ — — 11,269 12,215 946 300,000 297,178 (2,822) 100 2,290 2,190 — 915 915 — 11,369 14,505 3,136 300,000 298,093 (1,907) — 54,675 54,675 — — — — 54,675 54,675 — — — — (43,306) (40,170) 3,136 300,000 298,093 (1,907) — — — (285,000) (285,000) — — — — — (285,000) (285,000) — (43,306) (40,170) 3,136 15,000 13,093 (1,907) 42,686 42,686 — 68,964 68,964 — — $ (620)$ 2.516$ 3,136$ 83,964$ 82,057 $ (1.907) (CONTINUED) 85 COLLIER COUNTY,FLORIDA COMBINING SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES BUDGET(NON-GAAP BUDGETARY BASIS)AND ACTUAL -- FIDUCIARY FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 EXPENDABLE TRUST FUNDS Confiscated Property Law Enforcement Training - Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) Revenues: Licenses and permits $ - $ -$ - $ -$ -$ - Charges for services - - - - - - Fines and forfeitures - 243,120 243,120 40,000 40,660 660 Interest income 20,000 25,081 5,081 1,800 1,148 (652) Miscellaneous - - - - - - Total revenues 20,000 268,201 248,201 41,800 41,808 8 Expenditures: General government - - - - - - Public safety 390,300 320,136 70,164 67,089 45,210 21,879 Transportation - - - - - - Human services - - - - - - Culture and recreation - - - - - - Total expenditures 390,300 320,136 70,164 67,089 45,210 21,879 Excess of revenues over/ (under)expenditures (370,300) (51,935) 318,365 (25,289) (3,402) 21,887 - Other financing sources(uses): Operating transfers out (56,841) (56,841) - - - - ^ Total other financing sources (uses) (56,841) (56,841) - - - - - Excess of revenues and other sources over/(under)expen- ditures and other uses (427,141) (108,776) 318,365 (25,289) (3,402) 21,887 Fund balances at beginning of year 520,048 520,048 - 25,289 25,289 - Fund balances at end of year $ 92,907$ 411.272 $ 318,365 $ -$ 21,887 $ 21,887 EXPENDABLE TRUST FUNDS GAC Land Sales,Roads and Canals Total - Variance Variance Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ - $ - $ - $ 13,000$ 10,081 $ (2,919) - - - 19,000 22,117 3,117 - - - - 351,269 593,173 241,904 21,200 33,330 12,130 50,800 71,168 20,368 201,400 - (201,400) 221,579 16,153 (205,426) - 222,600 33,330 (189,270) 655,648 712,692 57,044 - - - 54,675 54,675 - - - - 457,389 365,346 92,043 787,900 579,232 208,668 787,900 579,232 208,668 1 - - - - 129,100 40,522 88,578 - - - 101,279 488 100,791 787,900 579,232 208,668 1,530,343 1,040,263 490,080 (565,300) (545,902) 19,398 (874,695) (327,571) 547,124 - - - - (341,841) (341,841) - - - - (341,841) (341,841) - (565,300) (545,902) 19,398 (1,216,536) (669,412) 547,124 1,106,216 1,106,216 - 1,918,605 1,918,605 - - $ 540,916 $ 560,314$ 19,398 $ 702,069 $ 1,249,193$ 547,124 86 COLLIER COUNTY,FLORIDA '-, COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Balance Balance October 1,1993 Additions Deletions September 30,1994 _. Deferred Compensation Assets: Investments with trustee $ 2.640.697 $ 675.931 $ 227.696 $ 3.088.932 Liabilities: Due to individuals $ 2.640.697 $ 675.931 $ 227.696 $ 3.088.932 Clerk of Courts Assets: ^ Cash $ 3,275,981 $ 52,730,171 $ 52,767,270 $ 3,238,882 Investments with trustee 744,027 165,393 80,474 828,946 Inventory 63,401 82,610 63,401 82,610 Total Assets $ 4,083.409 $ 52.978.174 $ 52,911,145 $ 4,150.438 Liabilities: Vouchers payable $ - $ 40,437,824 $ 40,437,127 $ 697 Due to other funds 367,877 3,414,735 3,510,301 272,311 Due to other governments 515,980 30,480,606 30,229,621 766,965 Due to individuals 744,027 165,393 80,474 828,946 Refundable deposits 2,455,525 15,264,402 15,438,408 2,281,519 - Total Liabilities $ 4.083,409 $ 89,762.960 $ 89.695,931 $ 4.150,438 Sheriff Assets: Cash $ 76,376 $ 2,093,109 $ 2,099,183 $ 70,302 ..., Investments with trustee 622,571 185,608 54,130 754,049 Receivables: Other 2,290 6,010 2,290 6,010 Due from other funds 781 - 577 204 Due from other governments - 2,210 - 2,210 Total Assets $ 702,018 $ 2.286.937 $ 2,156,180 $ 832,775 Liabilities: Vouchers payable $ 78 $ 186 $ - $ 264 Due to other funds 35,172 37,378 31,672 40,878 Bonds and deposits 44,197 837,572 844,185 37,584 - Due to individuals 622,571 185,608 54,130 754,049 Total Uabilities $ 702.018 $ 1.060.744 $ 929,987 $ 832,775 Property Appraiser Assets: Investments with trustee $ 371.015 $ 96.016 $ 6,926 $ 460,105 Uabilities: Due to individuals $ 371,015 $ 96,016 $ 6.926 $ 460,105 (CONTINUED) 87 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS—CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 — Balance Balance October 1,1993 Additions Deletions September 30,1994 Tax Collector Assets: — Cash $ 2,774,273 $ 260,874,811 $ 261,103,113 $ 2,545,971 Investments with trustee 489,380 119,639 13,081 595,938 Due from other funds5,176 — 3,232 1,944 — Total Assets $ 3,268,829 $ 260,994.450 $ 261.119.426 $ 3.143.853 Liabilities: Due to other funds $ 807,585 $ 85,446,789 $ 85,769,971 $ 484,403 Due to other governments 1,725,176 169,486,004 169,536,120 1,675,060 — Due to individuals 736,068 9,323,487 9,075,165 984,390 Total Liabilities $ 3,268,829 $ 264.256.280 $ 264,381.256 $ 3,143,853 — Supervisor of Elections Assets: Cash $ 570 $ 24,499 $ 25,069 $ — Liabilities: Vouchers payable $ — $ 25,069 $ 25,069 $ — Due to individuals 570 24,499 25,069 — Total Liabilities $ 570 $ 49,568 $ 50,138 $ — Deposits Assets: Cash and investments $ — $ 2,432,805 $ 1,133,719 $ 1,299,086 Receivable: Interest — 13,199 — 13,199 — Total Assets $ — $ 2.446.004 $ 1,133,719 $ 1,312.285 Liabilities: — Vouchers payable $ — $ 235,400 $ 235,400 $ — Due to other funds — 64,235 — 64,235 Refundable deposits — 2,486,839 1,238,789 1,248,050 — Total Liabilities $ — $ 2.786,474 $ 1,474,189 $ 1,312.285 Pelican Bay Improvement District — Assets: Cash $ 105 $ 1,225,887 $ 1,225,992 $ — Cash with fiscal agent 632,023 2,338,720 2,970,743 — Receivables: Special assessments 31 — 31 — Interest 1 994 995 — Due from other funds 10 46 56 — Total Assets $ 632.170 $ 3,565,647 $ 4.197.817 $ — Liabilities: Vouchers payable — 657,832 657,832 — Due to holders of special assessments 632,170 1,250,757 1,882,927 — Total Liabilities $ 632,170 $ 1.908,589 $ 2,540,759 $ — (CONTINUED) - 88 COLLIER COUNTY,FLORIDA COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES ALL AGENCY FUNDS-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Balance Balance October 1,1993 Additions Deletions September 30, 1994 Pine Ridge and Naples Production Park Assets: Cash $ 1,858,200 $ 2,952,401 $ 833,499 $ 3,977,102 Receivable: Interest 9,360 1,229,951 1,211,195 28,116 Assessments 2,862,100 2,848,464 13,636 Due from other funds - 16,448 - 16,448 Total Assets $ 1.867,560 $ 7.060,900 $ 4,893.158 $ 4,035,302 Liabilities: - Vouchers payable $ 68,068 $ 792,974 $ 861,042 $ - Due to holders of special assessment bonds 1,799,492 3,014,810 779,000 4,035,302 Total Liabilities $ 1,867.560 $ 3.807.784 $ 1.640,042 $ 4,035,302 Total -All Agency Funds '-' Assets: Cash&investments $ 7,985,505 $ 322,333,683 $ 319,187,845 $ 11,131,343 Cash and investments with fiscal agent 632,023 2,338,720 2,970,743 - Investments with trustee 4,867,690 1,242,587 382,307 5,727,970 Receivables: Special assessments 31 - 31 - Interest 9,361 1,244,144 1,212,190 41,315 -- Other 2,290 6,010 2,290 6,010 Due from other funds 5,967 16,494 3,865 18,596 Due from other governments - 2,210 - 2,210 Inventory 63,401 82,610 63,401 82,610 - Other Assets - 2,862,100 2,848,464 13,636 Total Assets $ 13,566,268 $ 330,128,558 $ 326,671,136 $ 17,023,690 Liabilities: Vouchers payable $ 68,146 $ 42,149,285 $ 42,216,470 $ 961 Due to other funds 1,210,634 88,963,137 89,311,944 861,827 Bonds and deposits 44,197 837,572 844,185 37,584 - Due to other governments 2,241,156 199,966,610 199,765,741 2,442,025 Due to individuals 5,114,948 10,470,934 9,469,460 6,116,422 Refundable deposits 2,455,525 17,751,241 16,677,197 3,529,569 Due to holders of special assessment bonds 2,431,662 4,265,567 2,661,927 4,035,302 - Total Liabilities $ 13.566.268 $ 364.404,346 $ 360,946.924 $ 17.023.690 89 GENERAL FIXED ASSETS ACCOUNT GROUP THIS SELF-BALANCING GROUP OF ACCOUNTS IS USED TO ACCOUNT FOR THOSE FIXED ASSETS _ UTIUZED IN THE PERFORMANCE OF GENERAL GOVERNMENT FUNCTIONS AND EXCLUDES THE FIXED ASSETS OF PROPRIETARY FUNDS. COLLIER COUNTY,FLORIDA SCHEDULE OF GENERAL FIXED ASSETS BY CLASSIFICATION AND SOURCE SEPTEMBER 30,1994 Board of _ County Commissioners Sheriff Totals General Fixed Assets: -- Land $ 22,957,288 $ — $ 22,957,288 Buildings 85,706,105 — 85,706,105 Improvements other than buildings 31,850,883 — 31,850,883 Equipment 23,447,468 14,805,691 38,253,159 Construction in progress 1,318,995 — 1,318,995 Total General Fixed Assets $ 165.280.739 $ 14.805,691 $ 180,086.430 Investment in General Fixed Assets: Prior to 10/1/84(unidentified) $ 35,054,116 $ 820,467 $ 35,874,583 10/1/84 to 9/30/88 59,280,350 4,496,423 63,776,773 After 10/1/88 From: General fund 7,793,565 8,917,042 16,710,607 Special revenue funds 7,482,292 — 7,482,292 General obligation bonds 7,841,902 — 7,841,902 Revenue bonds 46,183,091 — 46,183,091 Federal and State grant funds 140,261 571,759 712,020 Proprietary and Enterprise funds 728,514 — 728,514 Developer customer contribution for Enterprise funds 776,648 — 776,648 Total Investment in General Fixed Assets $ 165,280,739 $ 14,805,691 $ 180,086,430 90 COWER COUNTY,FLORIDA SCHEDULE OF GENERAL FIXED ASSETS BY FUNCTION AND CLASSIFICATION — SEPTEMBER 30,1994 Improvements Other Than Land Buildings Buildings Equipment Total — Board of County Commissioners: — General government $ 11,653,242 $ 41,015,080 $ 2,713,173 $ 10,937,727 $ 66,319,222 Public safety - 21,626,272 118,872 1,988,494 23,733,638 Physical environment 1,304,938 1,265,011 4,418,712 1,191,086 8,179,747 Transportation 6,253,369 540,342 22,919 2,886,386 9,703,016 — Economic environment - - - 34,883 34,883 Human services 189,592 11,062,144 3,797 591,500 11,847,033 Culture and recreation 3,556,147 10,197,256 24,573,410 5,817,392 44,144,205 Construction in progress - 1,318,995 - - 1,318,995 Total Board of County Commissioners $ 22,957.288 $ 87.025.100 $ 31.850.883 $ 23.447.468 $ 165,280.739 Sheriff: Public safety $ - $ - $ - $ 14,805,691 $ 14,805,691 Total General Fixed Assets $ 22,957.288 $ 87.025,100 $ 31.850,883 $ 38.253,159 $ 180.086,430 — Total General Fixed Assets: General government $ 11,653,242 $ 41,015,080 $ 2,713,173 $ 10,937,727 $ 66,319,222 Public safety - 21,626,272 118,872 16,794,185 38,539,329 — Physical environment 1,304,938 1,265,011 4,418,712 1,191,086 8,179,747 Transportation 6,253,369 540,342 22,919 2,886,386 9,703,016 Economic environment - - - 34,883 34,883 — Human services 189,592 11,062,144 3,797 591,500 11,847,033 Culture and recreation 3,556,147 10,197,256 24,573,410 5,817,392 44,144,205 Construction in progress - 1,318,995 - - 1,318,995 Total $ 22,957,288 $ 87.025,100 $ 31,850,883 $ 38.253,159 $ 180,086,430 — 91 COLLIER COUNTY,FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY FUNCTION FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 - General General Fixed Assets Reclass- Transfers Transfers Fixed Assets 10/1/93 ifications Additions Deletions In Out 9/30/94 Board of County Commissioners: General government $ 61,941,881 $ 196,828$ 2,479,564$ 272,284$2,067,720$ 94,487$ 66,319,222 - Public safety 21,120,434 102,033 2,519,885 32,625 44,437 20,526 23,733,638 Physical environment 7,963,854 (33,295) 255,188 6,000 - - 8,179,747 Transportation 9,295,794 (168,730) 825,329 241,222 2,133 10,288 9,703,016 Economic environment 49,691 (16,807) 1,999 - - - 34,883 - Human services 11,407,436 29,943 579,411 169,757 - - 11,847,033 Culture and recreation 39,494,442 (109,972) 5,402,672 642,937 - - 44,144,205 Construction in progress 638,736 - 680,259 - - - 1,318,995 Total Board of County Commissioners $ 151,912,268$ - $ 12,744,307$ 1,364,825$ 2,114,290$ 125,301 $ 165,280,739 Sheriff: Public safety $ 14,566,699$ - $ 1,362,084$ 1,123,092$ - $ - $ 14,805,691 - Total General Fixed Assets $ 166,478,967$ - $ 14,106.391 $ 2,487.917$2,114,290$ 125,301 $ 180,086,430 -. Total General Fixed Assets: General government $ 61,941,881 $ 196,828$ 2,479,564$ 272,284$ 2,067,720$ 94,487$ 66,319,222 Public safety 35,687,133 102,033 3,881,969 1,155,717 44,437 20,526 38,539,329 Physical environment 7,963,854 (33,295) 255,188 6,000 - - 8,179,747 Transportation 9,295,794 (168,730) 825,329 241,222 2,133 10,288 9,703,016 Economic environment 49,691 (16,807) 1,999 - - - 34,883 - Human services 11,407,436 29,943 579,411 169,757 - - 11,847,033 Culture and recreation 39,494,442 (109,972) 5,402,672 642,937 - - 44,144,205 Construction in progress 638,736 - 680,259 - - - 1,318,995 - Total $ 166,478.967$ - $ 14,106,391 $ 2.487,917$ 2.114,290$ 125,301 $ 180.086,430 92 COLLIER COUNTY,FLORIDA SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS BY CLASSIFICATION — FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 General General — Fixed Assets Reclaim— Transfers Transfers Fixed Assets 10/1/93 Ifications Additions Deletions In out 9/30/94 Board of County Commissioners: Land $ 22,516,001 $ 1,129$ 513,078$ — $ — $ 72,920$ 22,957,288 Buildings 81,261,795 4,306,374 137,936 — — — 85,706,105 Improvements other than buildings 28,598,939 3,085,194 739,575 572,825 — — 31,850,883 — Equipment 18,896,797 — 3,280,762 792,000 2,114,290 52,381 23,447,468 Construction in progress 638,736 (7,392,697) 8,072,956 — — — 1,318,995 Total $ 151,912,268$ — $ 12,744,307$ 1,364,825$ 2,114,290$ 125,301 $ 165,280,739 — Sheriff: Equipment $ 14,566,699$ — $ 1,362,084$ 1,123,092$ — $ — $ 14,805,691 Total General Fixed Assets $ 166.478,967$ — $ 14,106.391 $ 2.487,917$ 2,114,290$ 125,301 $ 180,086,430 — Total General Fixed Assets: Land $ 22,516,001 $ 1,129$ 513,078$ — $ — $ 72,920$ 22,957,288 Buildings 81,261,795 4,306,374 137,936 — — — 85,706,105 — Improvements other than buildings 28,598,939 3,085,194 739,575 572,825 — — 31,850,883 Equipment 33,463,496 — 4,642,846 1,915,092 2,114,290 52,381 38,253,159 Construction in progress 638,736 (7,392,697) 8,072,956 — — — 1,318,995 Total $ 166,478,967$ — $ 14,106.391 $ 2,487,917$ 2,114,290$ 125.301 $ 180,086,430 - 93 THIS PAGE INTENTIONALLY LEFT BLANK GENERAL LONG-TERM DEBT ACCOUNT GROUP THIS SELF BALANCING GROUP OF ACCOUNTS IS USED TO ACCOUNT FOR THE UNMATURED LONG-TERM INDEBTEDNESS OF THE GOVERNMENTAL UNIT THAT IS NOT A SPECIFIC LIABILITY OF ANY PROPRIETARY FUND OR TRUST FUND. GENERAL LONG-TERM DEBT INCLUDES LIABILITIES ARISING FROM DEBT ISSUANCES AS WELL AS NONCURRENT LIABILITIES ON CAPITALIZED LEASE OBLIGATIONS AND ACCRUED COMPENSATED ABSENCES THAT ARE NOT CURRENT LIABILITIES PROPERLY RECORDED IN GOVERNMENTAL FUNDS. - i COWER COUNTY,FLORIDA SCHEDULE OF GENERAL LONG-TERM DEBT SEPTEMBER 30,1994 Board of Clerk of County Circuit Property Tax Supervisor Commissioners Court Sheriff Appraiser Collector of Elections Total ^ AMOUNT AVAILABLE AND TO BE PROVIDED FOR THE PAYMENT OF GENERAL LONG-TERM OBLIGATIONS Amount available in debt service funds for: General obligation bonds $ 66,636$ -$ - $ -$ -$ -$ 66,636 Revenue bonds and certificates - of indebtedness 5,609,528 - - - - - 5,609,528 Commercial paper loan payable 156,349 - - - - - 156,349 Notes payable 208,871 - - - - - 208,871 Total amount available in debt service funds 6,041,384 - - - - - 6,041,384 Amount to be provided for retirement of general long-term debt General obligation bonds 9,035,364 - - - - - 9,035,364 Revenue bonds and certificates - of indebtedness 45,405,472 - - - - - 45,405,472 Commercial paper loan payable 12,643,651 - - - - - 12,643,651 Notes payable 158,100 - - - - - 158,100 Capitalized lease obligations 54,666 - 2,697 352,112 500,954 - 910,429 Accrued compensated absences 2,523,050 335,690 2,665,314 171,822 146,935 13,094 5,855,905 Total amount to be provided for the retirement of general long-term debt 69,820,303 335,690 2,668,011 523,934 647,889 13,094 74,008,921 Total amount available and to be provided $ 75,861,687$ 335,690 $ 2,668,011 $ 523,934$ 647,889 $ 13,094 $ 80,050,305 - GENERAL LONG-TERM DEBT General obligation bonds $ 9,102,000$ -$ -$ - $ - $ - $ 9,102,000 Revenue bonds and certificates of indebtedness 51,015,000 - - - - - 51,015,000 Commercial paper loan payable 12,800,000 - - - - - 12,800,000 Notes payable 366,971 - - - - - 366,971 Capitalized lease obligations 54,666 - 2,697 352,112 500,954 - 910,429 Accrued compensated absences 2,523,050 335,690 2,665,314 171,822 146,935 13,094 5,855,905 - Total general long-term debt $ 75,861.687$ 335,690 $ 2,668,011 $ 523,934$ 647.889$ 13,094 $ 80,050.305 94 COLLIER COUNTY,FLORIDA SCHEDULE OF CHANGES IN GENERAL LONG-TERM DEBT FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 Balance Balance 10/1/93 Issued Retired Defeased 9/30/94 Board of County Commissioners General obligation bonds: 1976 Golden Gate general obligation bonds $ 121,000$ -$ 34,000$ -$ 87,000 1986 Parks general obligation refunding bonds 6,275,000 - 465,000 - 5,810,000 1989 Marco limited general obligation bonds 3,625,000 - 420,000 - 3,205,000 Total General Obligation Bonds 10,021,000 - 919,000 - 9,102,000 Revenue Bonds and Certificates of Indebtedness: _„ 1973 Race track revenue certificates 2,760,000 - 210,000 - 2,550,000 1977 Guaranteed entitlement revenue bonds 2,880,000 - 220,000 - 2,660,000 1986 Gas tax road improvement revenue bonds 5,935,000 - 205,000 - 5,730,000 1986 Sales tax revenue refunding bonds 30,095,000 - 810,000 29,285,000 - 1990 Special obligation revenue bonds 2,800,000 - 875,000 - 1,925,000 1992 Capital improvement revenue refunding bonds 7,985,000 - 250,000 - 7,735,000 1994 Capital improvement revenue refunding bonds - 30,415,000 - - 30,415,000 _ Total Revenue Bonds and Certificates Of Indebtedness 52,455,000 30,415,000 2,570,000 29,285,000 51,015,000 Other General Long-Term Liabilities: Commercial paper loan payable 13,750,000 650,000 1,600,000 - 12,800,000 1992 H-2 note payable 569,459 - 521,973 - 47,486 _ 19931-1 note payable 160,500 - 22,929 - 137,571 1993J-1 note payable 221,300 - 39,386 - 181,914 Capitalized lease obligations 87,851 - 33,185 - 54,666 Accrued compensated absences 2205,290 317,760 - - 2,523,050 - Total other general long-term debt 16,994,400 967,760 2,217,473 - 15,744,687 Total Board of County Commissioners 79,470,400 31,382,760 5,706,473 29,285,000 75,861,687 Clerk of Circuit Court Accrued compensated absences 303,046 32,644 - - 335,690 Total Clerk of Circuit Court 303,046 32,644 - - 335,690 (CONTINUED) - - 95 COLLIER COUNTY,FLORIDA SCHEDULE OF CHANGES IN GENERAL LONG-TERM DEBT-CONTINUED FOR THE FISCAL YEAR ENDED SEPTEMBER 30,1994 - Balance Balance 10/1/93 _ Issued Retired Defeased 9/30/94 Sheriff Capitalized lease obligations $ 18,395$ -$ 15,698$ -$ 2,697 Accrued compensated absences 1,882,672 782,642 - - 2,665,314 - Total Sheriff 1,901,067 782,642 15,698 - 2,668,011 Property Appraiser Capitalized lease obligations 567,609 - 215,497 - 352,112 Accrued compensated absences 136,932 34,890 - - 171,822 Total Property Appraiser 704,541 34,890 215,497 - 523,934 - Tax Collector Capitalized lease obligations 628,201 - 127,247 - 500,954 - Accrued compensated absences 108,718 38217 - - 146,935 Total Tax Collector 736,919 38,217 127,247 - 647,889 Supervisor of Elections Accrued compensated absences 9,638 3,456 - - 13,094 Total Supervisor of Elections 9,638 3,456 - - 13,094 Total $ 83,125,611 $ 32,274,609$ 6,064,915$ 29.285,000$ 80,050,305 Total Long-Term Debt: 1976 Golden Gate general obligation bonds $ 121,000$ -$ 34,000$ -$ 87,000 1986 Parks general obligation refunding bonds 6,275,000 - 465,000 - 5,810,000 1989 Marco limited general obligation bonds 3,625,000 - 420,000 - 3,205,000 _. 1973 Race track revenue certificates 2,760,000 - 210,000 - 2,550,000 1977 Guaranteed entitlement revenue bonds 2,880,000 - 220,000 - 2,660,000 1986 Gas tax road improvement revenue bonds 5,935,000 - 205,000 - 5,730,000 1986 Sales tax revenue refunding bonds 30,095,000 - 810,000 29,285,000 - 1990 Special obligation revenue bond 2,800,000 - 875,000 - 1,925,000 1992 Capital improvement revenue refunding bonds 7,985,000 - 250,000 - 7,735,000 1994 Capital improvement revenue refunding bonds - 30,415,000 - - 30,415,000 Commercial paper loans payable 13,750,000 650,000 1,600,000 - 12,800,000 ,,., 1992 H-2 note payable 569,459 - 521,973 - 47,486 19931-1 note payable 160,500 - 22,929 - 137,571 1993 J-1 note payable 221,300 - 39,386 - 181,914 Capitalized lease obligations 1,302,056 - 391,627 - 910,429 - Accrued compensated absences 4,646,296 1,209,609 - - 5,855,905 Total $ 83.125.611 $ 32,274,609$ 6.064.915$ 29,285,000$ 80.050.305 9 6 -, SUPPLEMENTAL SCHEDULES THE ATTACHED SCHEDULES DESCRIBE THE COUNTY'S LONG-TERM DEBT;GENERAL OBLIGATION BONDS; REVENUE BONDS; CERTIFICATES OF INDEBTEDNESS; AND ENTERPRISE LONG-TERM BONDS. ALSO SHOWN ARE SCHEDULES OF DEBT SERVICE REQUIREMENTS TO MATURITY. THIS PAGE INTENTIONALLY LEFT BLANK COLLIER COUNTY,FLORIDA — SCHEDULE OF DESCRIPTIONS OF GENERAL LONG-TERM DEBT GENERAL OBLIGATION BONDS SEPTEMBER 30,1994 1976 Golden 1986 Parks General 1989 Marco Island Gate General Obligation Limited General — Obligation Bonds Refunding Bonds Obligation Bonds • Original authorization $ 300,000 $ 8,715,000 $ 5,000,000 Unissued - - - — Issued 300,000 8,715,000 5,000,000 Defeased - - - - Retirements through September 30, 1994 213,000 2,905,000 1,795,000 Balance outstanding — September 30, 1994 $ 87,000 $ 5,810.000 $ 3,205,000 Date of issue January 1, 1976 September 1, 1986 May 1, 1989 — Maturity range 1976-1996 1986-2002 1990-2000 Principal payment date January November July Interest payment dates January-July May- November January-July — Denominations $1,000 $5,000 $5,000 Interest rates/ Maturities 6.00% 1979-1980 4.50% 1986-1987 6.60% 1990 — 6.25% 1977-1978 5.00% 1988 6.70% 1991 6.25% 1981-1996 5.25% 1989 6.75% 1992 5.50% 1990 6.80% 1993 — 5.75% 1991 6.85% 1994 6.00% 1992 6.90% 1995 6.20% 1993 6.95% 1996 6.40% 1994 7.00% 1997-1998 — 6.60% 1995 7.05% 1999 6.80% 1996 7.10% 2000 6.90% 1997 7.00% 1998 7.10% 1999-2000 7.20% 2001 7.25% 2002 Average interest Cost rate 6.2417% 6.8370% 6.91565% — Call feature 1977-1996 100.00 1994-1995 102.00 1995-1996 102.0 1995-1996 101.50 1996-1997 101.0 1996-1997 101.00 1997-2000 100.0 — 1997-1998 100.50 1998-2002 100.00 Paying agent Collier County Nationsbank First Union National Bank — Board of County P.O. Box 105555 Corporate Trust Operations Commissioners Corporate Trust 230 South Tyron Street Operations Charlotte, NC 28288 Atlanta, GA 30348 — 97 COLLIER COUNTY,FLORIDA SCHEDULE OF DESCRIPTIONS OF GENERAL LONG-TERM DEBT REVENUE BONDS,CERTIFICATES OF INDEBTEDNESS AND SPECIAL ASSESSMENT BONDS SEPTEMBER 30, 1994 1973 Race Track 1977 Guaranteed 1986 Gas Tax Revenue Entitlement Road Improvement Certificates Revenue Bonds Revenue Bonds - Original authorization $ 5,000,000 $ 5,000,000 $ 6,520,000 Unissued - - - Issued 5,000,000 5,000,000 6,520,000 Defeased - - - Retirements through - September 30, 1994 2,450,000 2,340,000 790,000 Balance outstanding September 30, 1994 $ 2.550.000 $ 2,660.000 $ 5.730.000 - Date of issue July 1, 1973 October 1, 1977 November 20, 1986 Maturity range 1974-2003 1979-2003 1988-2010 - Principal payment date July October June Interest payment dates January-July April-October June-December Denominations $5,000 $5,000 $5,000 - Interest rates/ 6.25% 1974-1984 5.90% 1988 4.25% 1988 Maturities 5.75% 1985-1987 6.00% 1989 4.75% 1989 5.50% 1988-1995 6.10% 1990 5.00% 1990 -- 5.75% 1996 6.35% 1991-1995 5.20% 1991 5.80% 1997 6.50% 1979-1987 5.40% 1992 5.90% 1998 6.50% 1996 5.50% 1993 6.00% 1999-2003 6.55% 1997 5.60% 1994 -" 6.60% 1998 5.80% 1995 6.65% 1999 6.00% 1996 6.70% 2000 6.20% 1997 ,^ 6.75% 2001-2003 6.40% 1998 6.50% 1999 6.60% 2000 6.70% 2001 - 7.00% 2010 Average interest Cost rate 5.7733% 6.5016% 6.6150% Call feature 1985 103.00 1988 103.00 1995-1996 102.00 1986 102.75 1989 102.75 1996-1997 101.00 1987 102.50 1990 102.50 1997-2010 100.00 1988 102.25 1991 102.25 1989 102.00 1992 102.00 --. 1990 101.75 1993 101.75 1991 101.50 1994 101.50 1992 101.25 1995 101.25 19932002 101.00 19962003 101.00 - 2003 100.00 Paying agent The Bank of New York The Bank of New York Nationsbank - Trust Company of FL Trust Company of FL P.O.Box 105555 Towermarc Plaza Towermarc Plaza Corporate Trust Operations 10161 Centurion Parkway 10161 Centurion Parkway Atlanta,GA 30348 Jacksonville, FL 32256 Jacksonville, FL 32256 - 1992 1994 1990 Capital Improvement Capital Improvement - 1986 Capital Improvement Special Obligation Revenue Revenue Revenue Bonds . Revenue Bonds Refunding Bonds Refunding Bonds $ 31,375,000 $ 4,400,000 $ 8,225,000 $ 30,415,000 31,375,000 4,400,000 8,225,000 30,415,000 29,285,000 - - - - 2,090,000 2,475,000 490,000 - - $ - $ 1,925,000 $ 7,735,000 $ 30,415.000 - September 1, 1986 December, 1990 August 1, 1992 August 1, 1994 1987-2012 1991-1995 1993-2013 1997-2012 October December October October April-October June-December April-October April-October $5,000 $25,000 $5,000 $5,000 4.50% 1987 6.75% 1991-1995 2.70% 1993 4.350% 1997 - 5.00% 1988 3.50% 1994 4.500% 1998 5.25% 1989 3.80% 1995 4.625% 1999 5.50% 1990 4.10% 1996 4.800% 2000 5.75% 1991 4.40% 1997 5.00% 2001 - 6.00% 1992 4.60% 1998 5.100% 2002 6.20% 1993 4.80% 1999 5.200% 2003 6.40% 1994 5.00% 2000 5.300% 2004 - 6.60% 1995 5.125%2001 5.400% 2005 6.70% 1996 5.25% 2002 5.750% 2006 6.80% 1997 5.30% 2003 5.850% 2007 6.90% 1998 5.40% 2004 5.700% 2008 - 7.00% 1999-2000 5.50% 2005 5.750% 2009 7.20% 2004 5.60% 2006 5.750% 2010 7.25% 2012 5.70% 2007 6.000% 2011 5.80% 2012 6.000% 2012 - 5.75% 2013 7.0709% 6.25% 5.03% 5.3172% 2004 100.00 No call provision 2002-2003 102% 2004-2005 102% 2012 .9900 2003-2004 101% 2005-2006 101% 2004-2013 100% 2006-2012 100% - Nationsbank Nationsbank Nationsbank Fifth Third Bank P.O.Box 105555 P.O.Box 105555 P.O.Box 105555 38 Fountain Square Plaza Corporate Trust Operations Corporate Trust Operations Corporate Trust Opeations Cincinatti,OH 45263 _ Atlanta,GA 30348 Atlanta,GA 30348 Atlanta,GA 30348 98 COLLIER COUNTY,FLORIDA SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY GENERAL OBLIGATION BONDS SEPTEMBER 30, 1994 Payments Total _ Year Ending Debt September 30 Principal Interest Service 1995 $ 987,000 $ 617,845 $ 1,604,845 1996 1,045,000 551,075 1,596,075 1997 1,070,000 480,110 1,550,110 1998 1,140,000 405,014 1,545,014 1999 1,220,000 323,935 1,543,935 2000 1,305,000 236,505 1,541,505 2001 725,000 142,075 867,075 2002 775,000 88,438 863,438 2003 835,000 30,269 865,269 Totals $ 9,102,000 $ 2,875,266 $ 11,977,266 99 -- COLLIER COUNTY, FLORIDA _ 1976 GOLDEN GATE GENERAL OBLIGATION BONDS SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY SEPTEMBER 30, 1994 Principal At Payments Total Year Ending Beginning of Debt September 30 Year Principal Interest Service 1995 $ 87,000 $ 42,000 $ 4,125 $ 46,125 1996 45,000 45,000 1,406 46,406 Totals $ 87.000 $ 5.531 $ 92,531 Pledge:MSTD ad valorem taxes. 100 COLLIER COUNTY,FLORIDA 1986 PARKS GENERAL OBLIGATION REFUNDING BONDS SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY — SEPTEMBER 30, 1994 Principal at Payments Total Year Ending Beginning of Debt -- September 30 Year Principal Interest Service 1995 $ 5,810,000 $ 495,000 $ 389,137 $ 884,137 — 1996 5,315,000 520,000 356,137 876,137 1997 4,795,000 560,000 319,937 879,937 1998 4,235,000 590,000 280,542 870,542 — 1999 3,645,000 635,000 237,962 872,962 2000 3,010,000 675,000 191,775 866,775 2001 2,335,000 725,000 142,075 867,075 2002 1,610,000 775,000 88,438 863,438 2003 835,000 835,000 30,269 865,269 Totals $ 5,810,000 $ 2,036,272 $ 7,846,272 Pledge: County-wide unincorporated area MSTD ad valorem taxes. 101 COLLIER COUNTY,FLORIDA 1989 MARCO ISLAND LIMITED GENERAL OBLIGATION BONDS SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY SEPTEMBER 30, 1994 Principal at Payments Total Year Ending Beginning of Debt September 30 Year Principal Interest Service 1995 $ 3,205,000 $ 450,000 $ 224,583 $ 674,583 1996 2,755,000 480,000 193,532 673,532 1997 2,275,000 510,000 160,173 670,173 1998 1,765,000 550,000 124,472 674,472 1999 1,215,000 585,000 85,973 670,973 2000 630,000 630,000 44,730 674,730 Totals $ 3,205,000 $ 833,463 $ 4,038,463 Pledge: MSTD ad valorem taxes 102 COLLIER COUNTY, FLORIDA SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY REVENUE BONDS AND CERTIFICATES OF INDEBTEDNESS — SEPTEMBER 30,1994 Payments Total Year Ending Debt _, September 30 Principal Interest Service — 1995 $ 1,845,000 $ 2,991,067 $ 4,836,067 1996 1,975,000 2,771,472 4,746,472 1997 2,115,000 2,683,619 4,798,619 1998 2,440,000 2,577,694 5,017,694 — 1999 2,550,000 2,453,179 5,003,179 2000 2,685,000 2,319,923 5,004,923 2001 2,825,000 2,175,703 5,000,703 2002 2,980,000 2,019,845 4,999,845 2003 3,135,000 1,852,288 4,987,288 2004 2,555,000 1,674,068 4,229,068 2005 2,695,000 1,531,808 4,226,808 — 2006 2,840,000 1,379,473 4,219,473 2007 3,015,000 1,211,436 4,226,436 2008 3,190,000 1,030,443 4,220,443 — 2009 3,375,000 841,763 4,216,763 2010 3,575,000 641,201 4,216,201 2011 3,195,000 428,700 3,623,700 2012 3,390,000 238,413 3,628,413 2013 635,000 36,513 671,513 Totals $ 51,015,000 $ 30,858,608 $ 81,873,608 — 103 COLLIER COUNTY,FLORIDA CERTIFICATES OF INDEBTEDNESS 1973 RACE TRACK REVENUE CERTIFICATES SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY SEPTEMBER 30, 1994 Principal at Payments Total Year Ending Beginning of Debt September 30 Year Principal Interest Service 1995 $ 2,550,000$ 220,000$ 150,547$ 370,547 1996 2,330,000 235,000 138,448 373,448 1997 2,095,000 250,000 124,935 374,935 1998 1,845,000 265,000 110,435 375,435 1999 1,580,000 280,000 94,800 374,800 2000 1,300,000 300,000 78,000 378,000 2001 1,000,000 315,000 60,000 375,000 2002 685,000 335,000 41,100 376,100 2003 350,000 350,000 21,000 371,000 Totals $ 2,550,000 $ 819,265 $ 3.369,265 Pledge: Guaranteed entitlement portion of state revenue sharing. 104 COLLIER COUNTY,FLORIDA 1977 GUARANTEED ENTITLEMENT REVENUE BONDS SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY — SEPTEMBER 30, 1994 Principal at Payments Total Year Ending Beginning of Debt — September 30 Year Principal Interest Service 1995 $ 2,660,000$ 230,000$ 176,640$ 406,640 — 1996 2,430,000 245,000 162,035 407,035 1997 2,185,000 260,000 146,110 406,110 1998 1,925,000 275,000 129,080 404,080 1999 1,650,000 290,000 110,930 400,930 2000 1,360,000 310,000 91,645 401,645 2001 1,050,000 330,000 70,875 400,875 2002 720,000 350,000 48,600 398,600 2003 370,000 370,000 24,975 394,975 Totals $ 2.660.000 $ 960.890 $ 3.620,890 Pledge: Guaranteed entitlement portion of state revenue sharing. 105 COLLIER COUNTY,FLORIDA 1986 GAS TAX ROAD IMPROVEMENT REVENUE BONDS - SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY SEPTEMBER 30, 1994 Principal at Payments Total - Year Ending Beginning of Debt September 30 Year Principal Interest Service 1995 $ 5,730,000 $ 215,000 $ 389,300 $ 604,300 1996 5,515,000 230,000 376,830 606,830 1997 5,285,000 240,000 363,030 603,030 1998 5,045,000 260,000 348,150 608,150 - 1999 4,785,000 270,000 331,510 601,510 2000 4,515,000 290,000 313,960 603,960 2001 4,225,000 310,000 294,820 604,820 - 2002 3,915,000 330,000 274,050 604,050 2003 3,585,000 350,000 250,950 600,950 2004 3,235,000 380,000 226,450 606,450 2005 2,855,000 400,000 199,850 599,850 2006 2,455,000 430,000 171,850 601,850 2007 2,025,000 460,000 141,750 601,750 2008 1,565,000 490,000 109,550 599,550 - 2009 1,075,000 520,000 75,250 595,250 2010 555,000 555,000 38,850 593,850 Totals $ 5,730,000$ 3,906,150$ 9,636.150 - Pledge:County 9th cent gas tax revenues. 106 COLLIER COUNTY,FLORIDA 1990 SPECIAL OBLIGATION REVENUE BONDS SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY —' SEPTEMBER 30, 1994 Principal at Payments Total Year Ending Beginning of Debt -- September 30 Year Principal Interest Service 1995 $ 1,925,000 $ 925,000 $ 98,719 $ 1,023,719 1996 1,000,000 1,000,000 33,750 1,033,750 Totals $ 1,925,000 $ 132,469 $ 2.057.469 Pledge: Non-ad valorem funds which are not otherwise pledged,restricted or encumbered. 107 COLLIER COUNTY, FLORIDA 1992 CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS - SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY SEPTEMBER 30,1994 Principal at Payments Total - Year Ending Beginning of Debt September 30 Year Principal Interest Service - 1995 $ 7,735,000 $ 255,000 $ 414,698 $ 669,698 1996 7,480,000 265,000 405,008 670,008 1997 7,215,000 275,000 394,143 669,143 1998 6,940,000 290,000 382,043 672,043 1999 6,650,000 305,000 368,703 673,703 2000 6,345,000 315,000 354,063 669,063 2001 6,030,000 330,000 338,313 668,313 - 2002 5,700,000 345,000 321,400 666,400 2003 5,355,000 365,000 303,288 668,288 2004 4,990,000 385,000 283,943 668,943 - 2005 4,605,000 405,000 263,153 668,153 2006 4,200,000 425,000 240,878 665,878 2007 3,775,000 450,000 217,078 667,078 2008 3,325,000 480,000 191,428 671,428 - 2009 2,845,000 510,000 163,588 673,588 2010 2,335,000 535,000 134,263 669,263 2011 1,800,000 565,000 103,500 668,500 - 2012 1,235,000 600,000 71,013 671,013 2013 635,000 635,000 36,513 671,513 - Totals $ 7,735.000 $ 4,987,016 $ 12,722,016 - Pledge:State and local government half-cent sales tax. - 108 COLLIER COUNTY, FLORIDA 1994 CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS SCHEDULE OF DEBT SERVICE REQUIREMENTS TO MATURITY — SEPTEMBER 30,1994 Principal at Payments Total Year Ending Beginning of Debt –. September 30 Year Principal Interest Service 1995 $ 30,415,000 $ – $ 1,761,163 $ 1,761,163 1996 30,415,000 – 1,655,401 1,655,401 1997 30,415,000 1,090,000 1,655,401 2,745,401 1998 29,325,000 1,350,000 1,607,986 2,957,986 1999 27,975,000 1,405,000 1,547,236 2,952,236 2000 26,570,000 1,470,000 1,482,255 2,952,255 2001 25,100,000 1,540,000 1,411,695 2,951,695 2002 23,560,000 1,620,000 1,334,695 2,954,695 — 2003 21,940,000 1,700,000 1,252,075 2,952,075 2004 20,240,000 1,790,000 1,163,675 2,953,675 2005 18,450,000 1,890,000 1,068,805 2,958,805 2006 16,560,000 1,985,000 966,745 2,951,745 ._ 2007 14,575,000 2,105,000 852,608 2,957,608 2008 12,470,000 2,220,000 729,465 2,949,465 2009 10,250,000 2,345,000 602,925 2,947,925 -- 2010 7,905,000 2,485,000 468,088 2,953,088 2011 5,420,000 2,630,000 325,200 2,955,200 2012 2,790,000 2,790,000 167,400 2,957,400 — Totals $ 30,415,000 $ 20.052,818 $ 50,467.818_ Pledge: State and local government half-cent sales tax. _. 109 COWER COUNTY,FLORIDA SCHEDULE OF DESCRIPTIONS OF ENTERPRISE LONG—TERM DEBT REVENUE BONDS SEPTEMBER 30,1994 1981 Marco Island 1982 Goodle nd 1985 County Water and Sewer Water Revenue Water and Sewer Revenue Bonds Bonds Revenue Bonds Original authorization $ 1,960,000 $ 468,500 $ 85,000,000 Unissued — — Issued 1,960,000 468,500 24,240,000 Defeased — — 21,971,250 Retirements through September 30,1994 1,751,109 283,500 2,268,750 Balance outstanding September 30,1994 $ 208.891 $ 185,000 $ Date of issue June 1,1981 September 1,1982 December 1,1985 Maturity range 1983-2021 1982-2021 1986-2015 Principal payment date June September July Interest payment dates June September July—January Denominations $5,000 $500—$1,000 5,000 Interest rates/ Maturities 5% 1981-2021 5% 1992-2021 6% 1986 6.3% 1987 6.6% 1988 6.9% 1989 7.1% 1990 7.3% 1991 7.5% 1992 7.7% 1993 7.9% 1994 8% 1995 8.1% 1996 8.2% 1997 8.3% 1998 8.4% 1999 8.5% 2000-2003 8.625% 2004-2006 8.75% 2007-2015 Average Interest Cost Rate 5% 5% 8.5227% Call Feature 1999 100% 1991-1993 105% 1995-1996 102% _ 1993-1998 104% 1996-1997 101.5% 1998-2002 103% 1997-1998 101% 2002-2006 102% 1998-1999 100.5% 2006-2010 101% 1999—thereafter 100% 2010—thereafter 100% Paying Agent: U.S.Department U.S.Department The Bank of New York Of Agriculture Of Agriculture Trust Company of FL Farmers Home Farmers Home Towermarc Plaza Administration Administration 10161 Centurion Parkway 4362 Northlake Blvd. 4362 Northlake Blvd. Jacksonville,FL 32256 _. Palm Beach Gardens,FL Palm Beach Gardens,FL 33410 33410 110 (CONTINUED) COWER COUNTY,FLORIDA SCHEDULE OF DESCRIPTIONS OF ENTERPRISE LONG-TERM DEBT REVENUE BONDS-CONTINUED SEPTEMBER 30,1994 1988 Marco Water and 1986 Capital Improvement Sewer District Program Revenue Bonds Special Assessment 1990 Sewer Assessment Sub-Series One Bonds Bonds Original authorization $ 11,600,000 $ 1,250,000 $ 15,960,000 • Unissued - - - Issued 11,600,000 1,250,000 15,960,000 Defeased 10,379,583 Retirements through September 30,1994 1,220,417 750,000 11,040,000 Balance outstanding • September 30,1994 $ - $ 500.000 $ 4.920.000 Date of issue March 4,1987 December 1,1988 July 15,1990 Maturity range 1988-2016 1989-1998 1993-2011 Principal payment date July May October Interest payment dates July-January May-November October-April Denominations $5,000 $5,000 $5,000 Interest rates/ Maturities 4% 1988 6.5% 1989 6.1% 1993 4.25% 1989 6.75% 1990 6.2% 1994 4.5% 1990 7% 1991 6.3% 1995 4.75% 1991 7.15% 1992 6.4% 1996 4.9% 1992 7.30% 1993 6.5% 1997 —• 5.1% 1993 7.45% 1994 6.6% 1998 5.3% 1994 7.6.% 1995 6.7% 1999 5.5% 1995 7.75% 1996 6.8% 2000 5.7% 1996 7.99% 1997 6.9% 2001-2004 ^ 5.85% 1997 8% 1998 7.05% 2005-2010 6% 1998 7.15% 2011 6.15% 1999 6.25% 2000-2005 6.75% 2006-2015 6.875% 2016 Average Interest Cost Rate 6.481% 7.6774% 7.0595% Call Feature 1995-1996 102% 1993-1994 102% 1998-1999 103% 1996-1997 101% 1994-1995 101.5% 1999-2000 102% _ 1997-thereafter 100% 1995-1996 101% 2000-2001 101% 1996-1997 100.5% 2001-thereafter 100% 1997-thereafter 100% Paying Agent Sun Bank N.A. Society National Bank Bank of New York P.O.Box 3808 Trust Department Trust Company of FL Orlando,FL P.O.Box 10099 Towermarc Plaza Toledo,OH 43699 10161 Centurion Parkway Jacksonville,FL 32256 1991 County 1992 County 1994 Taxable County Water 1994 County Water Water and Sewer Water and Sewer and Sewer Refunding and Sewer Refunding Revenue Bonds Revenue Bonds Revenue Bonds Revenue Bonds - $ 55,225,000 $ 13,090,000 $ 24,225,000 $ 40,320,000 55,225,000 13,090,000 24,225,000 40,320,000 - 25,930,000 - - - _ 1,700,000 1,195,000 375,000 - $ 27.595.000 $ 11.895.000 $ 23.850.000 $ 40.320.000 October 22,1991 June 30,1992 January 15,1994 January 15,1994 1992-2016 1993-2010 1994-2010 1995-2021 - July July July July July-January July-January January-July January-July $5,000 $5,000 $5,000 $5,000 4.40% 1992 3.20% 1993 3.35% 1994 3.00% 1995 4.65% 1993 4.20% 1994 4.00% 1995 3.25% 1996 4.90% 1994 4.50% 1995 4.60% 1996 3.50% 1997 - 5.10% 1995 4.75% 1996 4.95% 1997 3.70% 1998 5.30% 1996 4.90% 1997 5.35% 1998 3.90% 1999 5.45% 1997 5.20% 1998 5.55% 1999 4.00% 2000 5.60% 1998 5.375% 1999 5.65% 2000 4.20% 2001 5.75% 1999 5.50% 2000 5.90% 2001 4.30% 2002 5.85% 2000 5.70% 2001 6.10% 2002 4.40% 2003 5.95% 2001 5.80% 2002 6.20% 2003 4.50% 2004 6.05% 2002 5.90% 2003 6.30% 2004 4.60% 2005 - 6.15% 2003 5.90% 2004 6.40% 2005-2007 4.70% 2006 6.25% 2004 6.10% 2005 6.75% 2008-2009 4.75% 2007 6.30% 2005 6.15% 2006-2009 6.85% 2010 4.90% 2008 6.35% 2006-2010 6.375% 2010 5.00% 2009 6.50% 2011-2016 5.00% 2010-2012 5.25% 2013-2015 5.00% 2016-2020 - 5.25% 2021 6.03% 5.44% 5.79% 4.68% - 1999-2000 102% 2002-2003 102% 2003-2004 102% 2003-2004 102% 2000-2001 101% 2003-2004 101% 2005 101% 2005 105% 2001-thereafter 100% 2004-thereafter 100% 2006-thereafter 100% 2006-thereafter 100% - First Union National Bank Nationsbank First Union National Bank Fast Union National Bank Corporate Trust Operations P.O.Box 105555 Corporate Trust Operations Corporate Trust Operations 230 South Tyron Street Corporate Trust Operations 230 South Tyron Street 230 South Tyron Street Charlotte,NC 28288 Atlanta,GA 30348 Charlotte,NC 28288 Charlotte,NC 28288 - 111 COLLIER COUNTY,FLORIDA 1981 MARCO ISLAND WATER AND SEWER REVENUE BONDS DESCRIPTION AND BOND AMORTIZATION SCHEDULE SEPTEMBER 30, 1994 Type: Revenue Bonds Authorized and Issued: $1,960,000 Amount Outstanding at 09/30/94: $208,891 - Dated: June 1,1981 Final Maturity: Year 2021 Principal Payment Date: June 1 Interest Payment Date: June 1 - Interest Rate: 5% Revenue Pledged: Waste water system net operating revenues and special assessments against benefitted properties Annual Principal Installments: $7,736 to$100,293 through 2021 Principal at Total Year Ended Beginning of Debt September 30 Year Principal Interest Service - 1995 $ 208,891 $ 7,737 $ 10,445 $ 18,182 1996 201,154 7,737 10,058 17,795 1997 193,417 7,737 9,671 17,408 ^ 1998 185,680 7,737 9,284 17,021 1999 177,943 7,737 8,897 16,634 2000 170,206 7,737 8,510 16,247 - 2001 162,469 7,737 8,123 15,860 2002 154,732 7,737 7,737 15,474 2003 146,995 7,737 7,350 15,087 2004 139,258 7,737 6,963 14,700 - 2005 131,521 7,737 6,576 14,313 2006 123,784 7,737 6,189 13,926 2007 116,047 7,737 5,802 13,539 _, 2008 108,310 7,736 5,416 13,152 2009 100,574 7,737 5,029 12,766 2010 92,837 7,736 4,642 12,378 2011 85,101 7,737 4,255 11,992 - 2012 77,364 7,736 3,868 11,604 2013 69,628 7,737 3,481 11,218 2014 61,891 7,736 3,095 10,831 _, 2015 54,155 7,737 2,708 10,445 2016 46,418 7,736 2,321 10,057 2017 38,682 7,737 1,934 9,671 2018 30,945 7,736 1,547 9,283 - 2019 23,209 7,737 1,160 8,897 2020 15,472 7,736 774 8,510 2021 7,736 7,736 387 8,123 _, Totals $ 208,891 $ 146,222 $ 355,113 112 COLLIER COUNTY,FLORIDA 1982 GOODLAND WATER REVENUE BONDS - DESCRIPTION AND BOND AMORTIZATION SCHEDULE SEPTEMBER 30,1994 - Type: Revenue Bonds Authorized and Issued: $468,500 Amount Outstanding at 09/30/94: $185,000 - Dated: September 1, 1982 Final Maturity: Year 2021 Principal Payment Date: September 1 Interest Payment Dates: September 1 Interest Rate: 5% Revenue Pledged: Water system net operating revenues and special assessments - against benefitted properties Annual Principal Installments: $3,000 to$110,000 through 2021 Principal at Total Year Ended Beginning of Debt September 30 Year Principal Interest Service - 1995 $ 185,000 $ 3,000 $ 9,250 $ 12,250 1996 182,000 3,000 9,100 12,100 - 1997 179,000 4,000 8,950 12,950 1998 175,000 4,000 8,750 12,750 1999 171,000 4,000 8,550 12,550 - 2000 167,000 4,000 8,350 12,350 2001 163,000 4,000 8,150 12,150 2002 159,000 5,000 7,950 12,950 2003 154,000 5,000 7,700 12,700 - 2004 149,000 8,000 7,450 15,450 2005 141,000 5,000 7,050 12,050 2006 136,000 6,000 6,800 12,800 - 2007 130,000 6,000 6,500 12,500 2008 124,000 6,000 6,200 12,200 2009 118,000 7,000 5,900 12,900 2010 111,000 7,000 5,550 12,550 - 2011 104,000 7,000 5,200 12,200 2012 97,000 7,000 4,850 11,850 2013 90,000 8,000 4,500 12,500 - 2014 82,000 8,000 4,100 12,100 2015 74,000 9,000 3,700 12,700 2016 65,000 9,000 3,250 12,250 2017 56,000 10,000 2,800 12,800 - 2018 46,000 10,000 2,300 12,300 2019 36,000 10,000 1,800 11,800 2020 26,000 12,000 1,300 13,300 2021 14,000 14,000 700 14,700 - Totals $ 185.000 $ 156.700 $ 341.700 113 COLLIER COUNTY,FLORIDA 1988 MARCO WATER AND SEWER DISTRICT SPECIAL ASSESSMENT BONDS DESCRIPTION AND BOND AMORTIZATION SCHEDULE SEPTEMBER 30, 1994 Type: Special Assessment Authorized and Issued: $1,250,000 Amount Outstanding at 09/30/94: $500,000 Dated: December 1,1988 Final Maturity: Year 1998 -- Principal Payment Date: May 1 Interest Payment Dates: May 1 and November 1 Interest Rates: 6.75 to 8% — Revenue Pledged: Water and sewer system net operating revenues and special assessments against benefitted properties Annual Principal Installments: $125,000 through 1998 Principal at Total Year Ended Beginning of Debt -- September 30 Year Principal Interest Service 1995 $ 500,000 $ 125,000 $ 39,063 $ 164,063 1996 375,000 125,000 29,562 154,562 1997 250,000 125,000 19,875 144,875 1998 125,000 125,000 10,000 135,000 Totals $ 500,000 $ 98.500 $ 598,500 114 - COLLIER COUNTY, FLORIDA 1990 SEWER ASSESSMENT BONDS DESCRIPTION AND AMORTIZATION TABLE SEPTEMBER 30, 1994 - - Type: Special Assessment Authorized and Issued: $15,960,000 Amount Outstanding at 09/30/94: $4,920,000 - Dated: July 15, 1990 Final Maturity: Year 2011 Principal Payment Date: October 1 _ Interest Payment Dates: October 1 and April 1 Interest Rates: 6.10%to 7.15% Revenue Pledged: Water and sewer system net operating revenues and special assessments - against benefitted properties Annual Principal Installments: $295,000 to$850,000 through 2011 Principal at Total - Year Ended Beginning of Debt September 30 Year Principal Interest Service - 1995 $ 4,920,000 $ 1,405,000 $ 287,875 $ 1,692,875 1996 3,515,000 205,000 234,597 439,597 1997 3,310,000 270,000 219,500 489,500 - 1998 3,040,000 260,000 202,410 462,410 1999 2,780,000 255,000 185,545 440,545 2000 2,525,000 255,000 168,588 423,588 2001 2,270,000 235,000 152,055 387,055 - 2002 2,035,000 235,000 135,958 370,958 2003 1,800,000 850,000 97,888 947,888 2004 950,000 0 67,925 67,925 - 2005 950,000 0 67,925 67,925 2006 950,000 0 67,925 67,925 2007 950,000 765,000 40,576 805,576 2008 185,000 185,000 6,613 191,613 - Total $ 4.920,000$ 1.935,380 $ 6.855,380 - 115 COLLIER COUNTY,FLORIDA 1991 COUNTY WATER AND SEWER REVENUE BONDS DESCRIPTION AND BOND AMORTIZATION SCHEDULE SEPTEMBER 30, 1994 Type: Revenue Bonds — Authorized and issued: $55,225,000 Amount Outstanding at 09/30/94: $27,595,000 Dated: 1991 Final Maturity: Year 2016 — Principal Payment Date: July 1 Interest Payment Dates: July 1 and January 1 Interest Rates: 4.40%to 6.50% — Revenue Pledged: Water and sewer net operating revenues Annual Principal Installments: $745,000 to$3,590,000 through 2016 Principal at Total — Year Ended Beginning of Debt September 30 Year Principal Interest Service 1995 $ 27,595,000 $ 850,000 $ 1,715,260 $ 2,565,260 _ 1996 26,745,000 965,000 1,671,910 2,636,910 1997 25,780,000 1,140,000 1,620,765 2,760,765 1998 24,640,000 1,200,000 1,558,635 2,758,635 1999 23,440,000 1,275,000 1,491,435 2,766,435 2000 22,165,000 765,000 1,418,122 2,183,122 2001 21,400,000 810,000 1,373,370 2,183,370 2002 20,590,000 860,000 1,325,175 2,185,175 — 2003 19,730,000 910,000 1,273,145 2,183,145 2004 18,820,000 970,000 1,217,180 2,187,180 2005 17,850,000 1,030,000 1,156,555 2,186,555 — 2006 16,820,000 1,090,000 1,091,665 2,181,665 2007 15,730,000 1,160,000 1,022,450 2,182,450 2008 14,570,000 1,245,000 947,050 2,192,050 2009 13,325,000 1,320,000 866,125 2,186,125 2010 12,005,000 1,405,000 780,325 2,185,325 2011 10,600,000 1,500,000 689,000 2,189,000 2012 9,100,000 1,600,000 591,500 2,191,500 — 2013 7,500,000 1,705,000 487,500 2,192,500 2014 5,795,000 1,815,000 376,675 2,191,675 2015 3,980,000 1,925,000 258,700 2,183,700 2016 2,055,000 2,055,000 133,575 2,188,575 — Totals $ 27,595,000 $ 23,066,117 $ 50,661,117 116 - COLLIER COUNTY,FLORIDA 1992 COUNTY WATER AND SEWER REVENUE BONDS DESCRIPTION AND BOND AMORTIZATION SCHEDULE SEPTEMBER 30, 1994 - - Type: Revenue Bonds Authorized and issued: $13,090,000 Amount Outstanding at 09/30/94: $11,895,000 Dated: 1992 Final Maturity: Year 2010 Principal Payment Date: July 1 Interest Payment Dates: July 1 and January 1 - Interest Rates: 3.20%to 6.375% 1 Revenue Pledged: Water and sewer net operating revenues Annual Principal Installments: $600,000 to$965,000 through 2010 - Principal at Total Year Ended Beginning of Debt September 30 Year Principal Interest Service - 1995 $ 11,895,000 $ 620,000 $ 681,285 $ 1,301,285 1996 11,275,000 645,000 653,385 1,298,385 1997 10,630,000 680,000 622,748 1,302,748 -- 1998 9,950,000 705,000 589,428 1,294,428 1999 9,245,000 740,000 552,768 1,292,768 2000 8,505,000 775,000 512,993 1,287,993 - 2001 7,730,000 815,000 470,368 1,285,368 2002 6,915,000 860,000 423,913 1,283,913 2003 6,055,000 910,000 374,033 1,284,033 2004 5,145,000 965,000 320,343 1,285,343 - 2005 4,180,000 600,000 263,408 863,408 2006 3,580,000 630,000 226,808 856,808 2007 2,950,000 675,000 188,063 863,063 2008 2,275,000 710,000 145,031 855,031 2009 1,565,000 760,000 99,769 859,769 2010 805,000 805,000 51,319 856,319 - Totals $ 11,895.000 $ 6.175.662 $ 18,070,662 - 117 COLLIER COUNTY,FLORIDA 1994 TAXABLE COUNTY WATER AND SEWER REFUNDING REVENUE BONDS — DESCRIPTION AND BOND AMORTIZATION SCHEDULE SEPTEMBER 30,1994 Type: Revenue Bonds Authorized and issued: $24,225,000 — Amount Outstanding at 09/30/94: $23,850,000 Dated: 1994 Final Maturity: Year 2010 — Principal Payment Date: July 1 Interest Payment Dates: July 1 and January 1 Interest Rates: 3.35%to 6.85% Revenue Pledged: Water and sewer net operating revenues — Annual Principal Installments: $375,000 to$2,315,000 through 2010 Principal at Total Year Ended Beginning of Debt — September 30 Year Principal Interest Service 1995 $ 23,850,000 $ 565,000 $ 1,472,492 $ 2,037,492 _, 1996 23,285,000 1,025,000 1,449,893 2,474,893 1997 22,260,000 1,070,000 1,402,742 2,472,742 1998 21,190,000 1,120,000 1,349,778 2,469,778 1999 20,070,000 1,185,000 1,289,857 2,474,857 2000 18,885,000 1,250,000 1,224,090 2,474,090 2001 17,635,000 1,320,000 1,153,465 2,473,465 2002 16,315,000 1,395,000 1,075,585 2,470,585 2003 14,920,000 1,480,000 990,490 2,470,490 2004 13,440,000 1,575,000 898,730 2,473,730 2005 11,865,000 1,675,000 799,505 2,474,505 2006 10,190,000 1,780,000 692,305 2,472,305 _ 2007 8,410,000 1,900,000 572,155 2,472,155 2008 6,510,000 2,030,000 443,905 2,473,905 2009 4,480,000 2,165,000 306,880 2,471,880 — 2010 2,315,000 2,315,000 158,578 2,473,578 Totals $ 23.850.000 $ 15.280.450 $ 39 130.450 — 118 COLLIER COUNTY, FLORIDA 1994 COUNTY WATER AND SEWER REFUNDING REVENUE BONDS DESCRIPTION AND BOND AMORTIZATION SCHEDULE — SEPTEMBER 30,1994 Type: Revenue Bonds Authorized and issued: $40,320,000 Amount Outstanding at 09/30/94: $40,320,000 — Dated: 1994 Final Maturity: Year 2021 Principal Payment Date: July 1 Interest Payment Dates: July 1 and January 1 Interest Rates: 3.00%to 5.35% Revenue Pledged: Water and sewer net operating revenues — Annual Principal Installments: $55,000 to$4,315,000 through 2021 Principal at Total Year Ended Beginning of Debt September 30 Year Principal Interest Service 1995 $ 40,320,000 $ 480,000 $ 2,019,467 $ 2,499,467 1996 39,840,000 55,000 2,005,068 2,060,068 1997 39,785,000 55,000 2,003,280 2,058,280 1998 39,730,000 65,000 2,001,355 2,066,355 1999 39,665,000 65,000 1,998,950 2,063,950 2000 39,600,000 645,000 1,996,415 2,641,415 2001 38,955,000 670,000 1,970,615 2,640,615 2002 38,285,000 700,000 1,942,475 2,642,475 2003 37,585,000 735,000 1,912,375 2,647,375 _ 2004 36,850,000 750,000 1,880,035 2,630,035 2005 36,100,000 790,000 1,846,285 2,636,285 2006 35,310,000 830,000 1,809,945 2,639,945 2007 34,480,000 865,000 1,770,935 2,635,935 — 2008 33,615,000 915,000 1,729,847 2,644,847 2009 32,700,000 955,000 1,685,013 2,640,013 2010 31,745,000 1,000,000 1,637,262 2,637,262 — 2011 30,745,000 3,525,000 1,587,263 5,112,263 2012 27,220,000 3,710,000 1,402,200 5,112,200 2013 23,510,000 3,905,000 1,207,425 5,112,425 2014 19,605,000 4,110,000 1,002,412 5,112,412 — 2015 15,495,000 4,315,000 796,913 5,111,913 2016 11,180,000 2,315,000 581,162 2,896,162 2017 8,865,000 1,595,000 465,413 2,060,413 — 2018 7,270,000 1,680,000 381,675 2,061,675 2019 5,590,000 1,770,000 293,475 2,063,475 2020 3,820,000 1,865,000 200,550 2,065,550 2021 1,955,000 1,955,000 102,638 2,057,638 — Totals $ 40,320,000 $ 38,230,448 $ 78,550,448 119 THIS PAGE INTENTIONALLY LEFT BLANK STATISTICAL SECTION STATISTICAL SCHEDULES DIFFER FROM FINANCIAL STATEMENTS BECAUSE THEY USUALLY COVER MORE THAN ONE FISCAL YEAR AND MAY PRESENT NON-ACCOUNTING DATA. THESE SCHEDULES REFLECT SOCIAL AND ECONOMIC DATA, AND FINANCIAL TRENDS OF COWER COUNTY, FLORIDA. liMmt mom COLLIER COUNTY,FLORIDA GENERAL GOVERNMENTAL REVENUES BY SOURCE(1) - LAST TEN FISCAL YEARS (Unaudited) - Fiscal Licenses and Inter- Charges for Fines and Year Taxes Permits governmental Services Forfeitures Other Totals 1985 25,383,416 2,143,204 11,240,092 2,541,093 1,735,284 2,374,033 45,417,122 - % 55.9 4.7 24.8 5.6 3.8 5.2 1986 30,554,678 2,209,930 11,778,624 3,356,755 1,392,066 2,548,336 51,840,389 % 58.9 4.3 22.7 6.5 2.7 4.9 - 1987 32,470,001 2,886,856 12,414,791 4,470,958 1,860,055 2,612,883 56,715,544 % 57.2 5.1 21.9 7.9 3.3 4.6 1988 45,463,309 4,227,550 15,100,312 4,881,989 2,414,319 2,914,549 75,002,028 % 60.6 5.6 20.2 6.5 3.2 3.9 - 1989 51,583,977 6,345,697 16,180,693 5,144,630 2,974,283 4,343,535 86,572,815 % 59.6 7.3 18.7 6.0 3.4 5.0 1990 57,992,452 6,468,302 19,606,203 5,733,800 3,213,467 6,359,119 99,373,343 -- % 58.4 6.5 19.7 5.8 3.2 6.4 1991 66,960,809 4,924,865 19,363,443 6,426,069 3,012,929 7,915,502 108,603,617 - % 61.7 4.5 17.8 5.9 2.8 7.3 1992 74,147,765 5,977,117 19,349,053 7,453,536 3,119,650 7,825,356 117,872,477 % 62.9 5.1 16.4 6.3 2.7 6.6 1993 75,594,053 5,580,335 23,925,093 7,602,666 3,212,998 7,957,014 123,872,159 % 61.0 4.5 19.3 6.2 2.6 6.4 1994 78,828,364 6,339,920 24,573,018 10,921,919 2,903,353 7,611,622 131,178,196 % 60.1 4.9 18.7 8.3 2.2 5.8 (1) Includes General,Special Revenue,and Debt Service Funds.Operating transfers in have been excluded from all years. - Source:Collier County Comprehensive Annual Financial Report. 120 COWER COUNTY,FLORIDA GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION(1) - LAST TEN FISCAL YEARS (Unaudited) Fiscal General Public Physical Economic Human Culture and Debt Year Government Safety Environment Transportation Environment Services Recreation Service Totals - 1985 9,715,510 15,197,727 1,261,251 5,377,306 739,713 2,203,234 1,858,068 5,934,270 42,287,079 % 23.0 36.0 3.0 12.7 1.7 5.2 4.4 14.0 1986 11,546,418 18,442,618 2,290,186 5,612,634 412,717 2,507,047 2,285,442 5,599,416 48,696,478 - % 23.7 37.9 4.7 11.5 0.9 5.1 4.7 11.5 1987 13,206,670 22,183,593 2,313,080 5,753,465 695,060 3,201,889 2,823,946 7,433,150 57,610,853 % 22.9 38.5 4.0 10.0 1.2 5.6 4.9 12.9 1988 15,635,989 25,343,690 2,091,861 6,241,994 871,063 3,830,007 3,558,453 6,708,513 64,281,570 % 24.3 39.4 3.3 9.7 1.4 6.0 5.5 10.4 - 1989 18,952,396 33,222,847 2,908,382 6,620,039 1,390,417 3,729,961 4,388,423 6,847,078 78,059,543 % 24.3 42.5 3.7 8.5 1.8 4.8 5.6 8.8 - 1990 22,071,840 39,914,760 4,372,667 6,516,518 1,142,970 4,153,303 4,989,014 7,656,251 90,817,323 % 24.3 43.9 4.8 7.2 1.3 4.6 5.5 8.4 1991 23,267,074 44,075,886 6,425,346 6,962,967 2,050,678 4,388,987 5,022,210 8,268,385 100,461,533 - % 23.2 43.9 6.4 6.9 2.0 4.4 5.0 8.2 1992 26,009,525 46,173,847 12,298,916 5,972,493 1,269,338 4,934,702 5,662,942 9,642,135 111,963,898 % 23.2 41.3 11.0 5.3 1.1 4.4 5.1 8.6 - 1993 26,564,661 48,062,340 10,299,424 6,800,597 375,767 5,269,998 6,655,960 28,743,210 132,771,957 % 20.0 36.2 7.7 5.1 0.3 4.0 5.0 21.7 1994 29,882,425 48,108,704 6,820,768 7,582,423 417,488 5,562,963 7,911,078 10,807,144 117,092,993 % 25.5 41.1 5.8 6.5 0.3 4.8 6.8 9.2 (1) Includes General,Special Revenue,and Debt Service Funds.Operating transfers out have been excluded for all years. - Source:Collier County Comprehensive Annual Financial Report. 121 COLLIER COUNTY,FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS - (IN THOUSANDS OF DOLLARS) LAST TEN FISCAL YEARS (Unaudited) County Taxes Collected Percent of Total Fiscal Commissioners Tax Discounts Plus Taxes Collected Plus Levy Cost Year Population Tax Levy Collections Mowed Discounts Discounts to Tax Levy Per Person - 1985 115,900 24,302 22,188 571 22,759 93.65% 209.68 1986 122,000 30,000 27,494 870 28,364 94.55% 245.90 1987 127,700 37,300 34,290 1,114 35,404 94.92% 292.09 1988 135,300 44,546 41,053 1,330 42,383 95.14% 329.24 1989 143,700 50,312 46,340 1,521 47,861 95.13% 350.12 1990 152,100 57,272 52,492 1,705 54,197 94.63% 376.54 1991 161,600 65,961 60,516 1,955 62,471 94.71% 408.18 1992 168,500 69,915 64,040 2,114 66,154 94.62% 414.89 - 1993 174,664 68,224 62,416 2,119 64,535 94.59% 390.61 1994 186,641 69,983 63,833 2,219 66,052 94.38% 374.96 -' Ad valorem taxes levied apply only to Governmental Funds under the control of County Commissioners. Property tax levies, based on assessed values as of January 1, become due and payable on November 1 of each year. A 4 percent discount is allowed if the taxes are paid in November, with the discount declining by 1 percent each month thereafter. Accordingly,taxes collected will be one hundred percent of the Tax Levy. Taxes become delinquent on April 1 of each year and tax - certificates for the full amount of any unpaid taxes and assessments must be sold not later than June 1 of each year. Property taxes receivable and a corresponding reserve for uncollectible property taxes are not included in the financial statements as there are no delinquent taxes as of September 30,1994. Sources:Tax Collector Annual Report and the Collier County Demographic and Economic Profile. 122 COLLIER COUNTY,FLORIDA — ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY (IN THOUSANDS OF DOLLARS) LAST TEN FISCAL YEARS (Unaudited) — MOM EXEMPTIONS — Ratio of Total Widow Taxable Assessed To Fiscal Assessed Governmental Disability Assessed Total Estimated Year Value* and Institutional Homestead and Other Valuation Actual Value 1985 7,406,569 390,735 582,377 6,567 6,426,890 100 1986 8,209,302 434,263 625,859 6,958 7,142,222 100 — 1987 8,851,027 463,281 646,883 7,197 7,733,888 100 — 1988 9,655,234 526,253 685,768 8,387 8,434,826 100 1989 10,811,216 808,837 740,714 8,601 9,253,064 100 — 1990 12,594,100 895,330 795,617 10,389 10,892,764 100 1991 14,633,015 1,001,237 869,648 12,757 12,749,373 100 — 1992 16,409,800 1,158,919 929,009 14,096 14,307,776 100 1993 16740,669 1,191,083 988,629 14,575 14,546,382 100 1994 17,682,048 1,313,051 1,039,154 16,788 15,313,053 100 Property is assessed as of January 1,and taxes based on these assessments are levied and become due on the following November 1. Therefore,assessments and levies applicable to a certain tax year are collected in the fiscal year ending during the next succeeding calendar year. — *The basis of assessed value required by the state is 100 percent of actual value. Source:Property Appraiser Recapitulation Report. 123 WOW COLLIER COUNTY,FLORIDA PROPERTY TAX RATES-ALL DIRECT AND OVERLAPPING GOVERNMENTS - LAST TEN FISCAL YEARS (Unaudited) COLLIER COUNTY OTHER Special Debt Capital County - Fiscal General Revenue Service Projects School Independent Year Fund Funds Funds Funds Total District Districts Total 1985 2.9859 .7287 .1725 - 3.8871 6.8890 1.0519 11.8281 .- 1986 3.2735 .6960 .1530 0.0723 4.1948 7.0480 1.2379 12.4807 1987 3.1754 .6761 .1366 0.8341 4.8222 7.1590 1.4706 13.4518 - 1988 3.3339 .8372 .1040 1.0000 5.2751 7.5400 1.5815 14.3966 1989 3.4977 .8098 .1076 1.0000 5.4151 7.8630 1.6302 14.9083 1990 3.3070 .7428 .1572 1.0000 5.2070 8.0240 1.7531 14.9841 MEM 1991 3.3502 .6637 .1378 1.0000 5.1517 8.2500 1.5718 14.9735 1992 3.3295 .7664 .1126 0.6580 4.8665 7.9570 1.4629 14.2864 1993 3.2580 .7726 .1094 0.5474 4.6874 8.0000 1.4455 14.1329 1994(1) 3.6729 .7823 .1106 0.0000 4.5658 8.0860 1.5648 14.2166 Basis for property tax rates is 1 mill per$1,000 of assessed value. Property is assessed as of January 1 and taxes based on those assessments are levied according to the tax rate in effect that tax year and become due on November 1. Therefore, assessments and tax levies applicable to a certain tax year are collected in the fiscal year ending during the following calendar - year. (1)In fiscal year 1994 the millage rates for capital projects were included in the General Fund millage rate. - Sources:Collier County annual adopted budget and the Property Appraiser Recapitulation Report. 124 COLLIER COUNTY,FLORIDA _ SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS LAST TEN FISCAL YEARS (Unaudited) Current Current Ratio Of Total Fiscal Assessments Assessments Collections Outstanding Year Due Collected To Amount Due Assessments 1985 682,292 866,284 127% 7,330,782 1986 422,869 674,661 160% 6,656,121 1987 749,012 1,100,603 147% 5,683,415 1988 273,001 1,393,658 510% 6,253,693 1989 263,747 1,310,353 497% 5,184,122 1990 188,935 986,600 522% 4,221,012 1991 269,102 643,986 239% 3,679,481 1992 2,135,998 5,570,154 261% 23,837,372 1993 2,232,546 2,970,481 133% 21,707,800 1994 1,919,042 3,207,550 167% 18,963,490 High percentages of collections are a result of payments made during interest free period of new assessment projects levied and early payment due to sale of properties. Excludes Pine Ridge and Naples Production Park assessments which the County acts as agent for the bondholders. Source:Collier County Assessment Recap Report. 125 COLLIER COUNTY, FLORIDA COMPUTATION OF LEGAL DEBT MARGIN September 30, 1994 — (Unaudited) The Constitution of the State of Florida, Florida Statute 200.181 and Collier County set no legal debt limit. — COMPUTATION OF DIRECT AND OVERLAPPING AND UNDERLYING DEBT _ September 30, 1994 (Unaudited) Percent Amount Net Debt Applicable to Applicable to — Governmental Entity Outstanding Collier County Collier County Direct: Collier County General Obligation Bonds $ 5,864,088 100.00% $ 5,864,088 Underlying: North Naples Fire District 376,946 100.00% 376,946 Total $ 6,241,034 $ 6,241,034 Source: Collier County Comprehensive Annual Financial Report and — North Naples Fire District Comprehensive Annual Financial Report. 126 COLLIER COUNTY,FLORIDA — RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUES AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS (Unaudited) Debt Service Ratio of Net Net Bonded Fiscal Assessed Value Gross Bonded Monies Net Bonded Bonded Debt to Debt Per Year Population (In Millions) Debt Available Debt Assessed Value Capita 1985 115,900 6,427 8,544,000 19,145 8,524,855 0.0013 73.55 1986 122,000 7,142 9,359,000 6,642 9,352,358 0.0013 76.66 1987 127,700 7,734 9,268,000 353,348 8,914,652 0.0012 69.81 1988 135,300 8,435 8,702,000 69,329 8,632,671 0.0010 63.80 1989 143,700 9,253 8,260,000 47,597 8,212,403 0.0009 57.15 1990 152,100 10,893 7,792,000 56,674 7,735,326 0.0007 50.86 1991 161,600 12,749 7,296,000 45,762 7,250,238 0.0006 44.87 — 1992 168,500 14,308 6,864,000 28,838 6,835,162 0.0005 40.56 1993 174,684 14,546 6,396,000 20,851 6,375,149 0.0004 36.50 — 1994 186,641 15,313 5,897,000 32,912 5,864,088 0.0004 31.42 — Sources: Collier County Demographic and Economic Profile. Property Appraiser Recapitulation Report. Collier County Comprehensive Annual Financial Report. 127 COWER COUNTY,FLORIDA — RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL GOVERNMENTAL EXPENDITURES LAST TEN FISCAL YEARS (Unaudited) — Total Ratio of Total Interest General Debt Service Fiscal And Fiscal Total Expenditures To General — Year Principal Charges Debt Service (1) Expenditures 1985 264,000 781,993 1,045,993 42,287,079 2.47 — 1986 280,000 765,895 1,045,895 48,696,478 2.15 1987 91,000 362,044 453,044 57,610,853 0.79 1988 566,000 580,753 1,146,753 64,281,570 1.78 1989 442,000 556,912 998,912 78,059,543 1.28 ... 1990 738,000 926,985 1,664,985 90,817,323 1.83 1991 841,000 838,439 1,679,439 100,461,533 1.67 — 1992 802,000 788,493 1,590,493 111,963,898 1.42 — 1993 858,000 737,046 1,595,046 132,771,957 1.20 1994 919,000 681,009 1,600,009 117,092,993 1.37 (1) Includes General,Special Revenue,and Debt Service Funds. -- Source:Collier County Comprehensive Annual Financial Report. — 128 COLLIER COUNTY,FLORIDA — SCHEDULE OF WATER AND SEWER FUNDS REVENUE BOND COVERAGE LAST TEN FISCAL YEARS(1) (Unaudited) — Net Revenue Debt Service Requirements Fiscal Gross Available For Year Revenue(2) Expenses(3) Debt Service Principal Interest Total Coverage(4) — 1985 7,200,588 3,319,880 3,880,708 470,292 2,151,401 2,621,693 1.48 1986 7,980,260 3,903,033 4,077,227 137,292 2,023,804 2,161,096 1.89 — 1987 10,747,682 5,048,812 5,698,870 337,292 2,146,757 2,484,049 2.29 1988 14,534,226 5,959,868 8,574,358 603,293 3,393,242 3,996,535 2.14 1989 18,394,205 5,528,519 12,865,686 1,318,405 4,759,217 6,077,622 2.12 1990 22,073,967 8,808,388 13,265,579 1,369,293 5,655,979 7,025,272 1.89 — 1991 24,197,284 10,337,664 13,859,620 1,438,293 5,572,337 7,010,630 1.98 — 1992 29,161,021 12,026,998 17,134,023 1,434,958 7,237,098 8,672,056 1.97 1993 32,166,459 13,142,832 19,023,627 2,128,293 7,352,527 9,480,820 2.01 — 1994 35,638,564 15,142,535 20,496,029 2,441,659 7,033,492 9,475,151 2.16 (1)Coverage applies to the County Water and Sewer District,Marco Water and Sewer District and Goodland Water District. As of 1990,coverage also applies to the Pelican Bay Water and and Sewer District. (2)Operating revenues plus other income exclusive of extraordinary gains. — (3)Total expenses excluding depreciation,bond interest,amortization,and extraordinary losses. (4)Net revenue divided by total debt service requirements. Source:Collier County Comprehensive Annual Financial Report. 129 COLLIER COUNTY,FLORIDA SALARIES AND SURETY BONDS OF PRINCIPAL OFFICIALS SEPTEMBER 30,1994 (Unaudited) Annual Amount of Name and Title of Official Salary Surety Bond Timothy J.Constantine — Chairman,Board of County Commissioners 38,369 2,000 Bettye J.Mathews — Vice Chairman,Board of County Commissioners 38,369 2,000 John C.Norris — Member,Board of County Commissioners 38,369 2,000 _ Michael J.Volpe — Member,Board of County Commissioners 38,369 2,000 Burt L.Saunders — Member,Board of County Commissioners 38,369 2,000 Dwight E.Brock — Clerk of Circuit Court 76,657 5,000 ._.., Don Hunter — Sheriff 79,999 10,000 Mary W.Morgan — Supervisor of Elections 65,445 5,000 Abe Skinner — Property Appraiser 76,657 10,000 Guy L.Carlton — Tax Collector 76,657 250,000 ..., W.Neil Dorrill — County Manager *106,535 Blanket Bond *excludes perquisites Source:Collier County Payroll Department. 130 COLLIER COUNTY,FLORIDA DEMOGRAPHIC STATISTICS SEPTEMBER 30,1994 LAST TEN FISCAL YEARS (Unaudited) Per Fiscal Percent Capita School Unemployment Year Population(1) Increase Income(2) Enrollment(3) Rate(4) 1985 115,900 5.2% 17,930 16,090 6.0% 1986 122,000 5.3% 19,479 16,788 5.6% 1987 127,700 4.7% 21,625 17,051 5.2% 1988 135,300 5.9% 24,346 18,999 4.5% 1989 143,700 6.2% 26,112 20,391 4.3% 1990 152,100 5.8% 27,329 21,547 5.3% 1991 161,600 6.3% 26,613 23,136 6.6% 1992 168,500 4.3% N/A 24,152 8.9% 1993 174,664 3.5% N/A 25,437 8.5% 1994 186,641 6.9% N/A 24,364 8.2% N/A=Data not currently available. Sources: (1)1993 Florida Statistical Abstract,University of Florida,(1984-1992 revised 1993). 1993 and 1994 estimates provided by Bureau of Economics and Business Research. (2)1993 Florida Statistical Abstract University of Florida(1984-91 revised during 1993.) Excluding 1992,1993 and 1994. (3)Collier County School Board,based on full time equivalent enrollment,revised 1994. (4)Florida Department of Labor,Bureau of Labor Statistics;and Division of Employment Security,Department of Commerce,State of Florida expressed as a percentage. 131 COLLIER COUNTY,FLORIDA PROPERTY VALUE,CONSTRUCTION,AND BANK DEPOSITS LAST TEN FISCAL YEARS ... (Unaudited) Construction and Property Values - Commercial/Industrial Residential(1) Fiscal Number of Value In Number of Number of Value in Bank Deposits In Year Permits(2) (Thousands)(3) Permits(2) Units(2) (Thousands)(3) (Thousands)(4) 1985 137 50,106 2,216 3,516 143,308 923,281 - 1986 182 27,754 2,156 3,851 182,775 1,100,892 1987 252 36,007 3,059 6,085 292,118 1,323,150 - 1988 270 51,897 2,897 8,496 439,540 1,505,433 1989 300 77,720 3,024 6,828 488,345 1,672,041 ..., 1990 382 51,659 3,046 6,332 422,736 1,910,521 1991 458 89,243 2,381 3,600 241,487 2,086,219 1992 339 77,169 2,870 4,552 369,141 2,067,215 1993 320 51,958 2,254 3,415 303,851 2,097,133 1994 298 62,211 2,684 4,073 397,861 2,707,107 _. (1)Includes Duplexes,Mobile Homes,Multi-Family and Single Family Structures. (2)Department of Community Development-Permit/unit report by type of structure (new structures only).Number of units of non-residential construction is not available. - (3)Value is stated at market value. (4)Florida Banker's Association. - Source:Collier County Department of Community Development and the Florida Banker's Association. 132 - COLLIER COUNTY,FLORIDA PRINCIPAL TAXPAYERS 1993 TAX ROLL (Unaudited) 1994 Property Percent of Taxes Total Owner/Taxpayer Levied Taxes Levied United Telephone Company of Florida 1,584,821 0.69% Florida Power&Light Company 1,453,976 0.64% Communities of Westinghouse 1,186,762 0.52% The Ritz Carlton Hotels 1,001,385 0.44% Collier Development Corporation 944,871 0.41 % City National Bank of Miami,Trustee 903,971 0.40% Raymond Lutgert,Trustee 577,916 0.25% Marco Island Utilities 542,365 0.24% Lee County Electric Co—Op,Inc. 472,848 0.21 % Naples Associates LTD Partnership 424,313 0.19% Total 9.093.228 3.98% Total Property Taxes Levied 228.293,011 Source: Property Appraiser's taxpayer listing in order of taxes levied. Amounts for taxpayers with similar names have not been combined. 133 COWER COUNTY,FLORIDA MISCELLANEOUS STATISTICAL DATA SEPTEMBER 30,1994 (Unaudited) Date of establishment 1923 Education: Form of Government: Constitutional County Number of Schools: Present area: 1,994 square miles High schools 4 Middle Schools 6 -- Elementary Schools 18 Population: Vocational Technical 1 K-12 School 1 Date Residents Number of administrators and non—instructional 1,425 1985 115,900 Number of teachers 1,517 1986 122,000 1987 127,700 Construction permits:(4) —" 1988 135,300 Permits issued 16,960 1989 143,700 Estimated construction costs $ 534,196,010 1990 152,100 1991 161,600 Police Protection:(2) 1992 168,514 Number of stations 7 1993 174,664 Number of employees: 1994 186,641 Certified law enforcement 347 .� Certified correction officers 163 Civilian employees 220 Certified Judicial employees 19 Fire Protection:(1) County Employees(Dependent Districts): Number of stations 2 As of September 30,1994 2,060 Number of employees 11 Number of volunteers 10 Elections: Number of registered voters 83,664 Miscellaneous County Information: Miles of streets 1,589 —' Number of voters turned out for Number of street lights(3) 900 last general election 27,915—33% Number of traffic lights 114 Number of county maintained parks 50 Number of libraries 7 Number of volumes in libraries 299,806 Water and Sewer Department: .,.., Number of equivalent dwelling units: Water 48,300 Sewer 50,500 Daily water consumption peak season(gallons) 13,405,000 Miles of water lines 474 Miles of sanitary sewers 550 Miles of primary and secondary drainage facilities 313 '^ (1)Excludes Independent Fire Districts (2)Excludes City Police and State Troopers (3)Excludes Lighting Districts . (4)New Structures and Renovations Source:Collier County Demographic and Economic Profile. 134 '-' COLLIER COUNTY,FLORIDA MAJOR INDUSTRIES WITHIN COLUER COUNTY SEPTEMBER 30,1994 (Unaudited) Industry Firms Employee Count* Hotels and Other Lodging 60 3,549 Health Services 365 5,619 Business Services 347 3,193 Amusement and Recreation Services 106 2,497 Services—Other 1,439 7,244 Total Services 2,317 22,102 Eating and Drinking Places 334 5,545 Food Stores 123 3148 Auto Dealers and Service Stations 123 1,623 Home Furniture and Furnishings 200 1,003 Retail Trade—Other 313 1,835 Apparel and Accessory Stores 188 1,314 General Merchandise Stores 21 1,841 Building Hardware and Garden 58 808 Total Retail Trade 1,360 17,117 Agriculture,Forestry and Fisheries 385 13,209 Construction 858 6,317 Local Government 22 5,771 Finance,Insurance and Real Estate 679 4,774 Manufacturing 163 2,018 Transportation,Communication and Public Utilities 206 1,933 Wholesale Trade 313 1,645 State Government 32 676 Federal Government 13 514 Mining 10 58 * Average number of people employed in 1993. Source: Florida Department of Labor&Employment Security;Bureau of Labor Market Information 135 COWER COUNTY,FLORIDA SCHEDULE OF INSURANCE IN FORCE SEPTEMBER 30,1994 (Unaudited) Type of policy and Expiration Annual Type of coverage Limits of Liability Company Date Premium .., Property(1) $1,000,000 Lloyd's of London 09/30/94 $ 190,000 General Liability(2) $250,000 per occurrence Lloyd's of London 09/30/94 Included $1,000,000 aggregate(3) in(A) Excess DIC $25,000,000 Crum&Forster 09/30/94 $ 156,736 Excess Liability $750,000 X250,000 St.Paul Insurance 09/30/94 $ 94,350 Excess Property $232,000,000 Crum&Forster 09/30/94 $ 174,751 Automobile Liability $1,000,000 National Union Fre 09/30/94 $ 50,875 Accidental Death and $75,000 Intentional Death The Home Insurance 09/30/94 $ 10,760 Dismemberment(AD&D) $25,000 In Line of Duty Company $25,000 Fresh Pursuits ... Airport Liability $1,000,000 each occurence U.S.Fire 09/30/94 $ 7,065 including Products and Completed Operations — AircraftLiabiity $1,000,000 AIG 3/13/95 $ 78,380 including Passenger Boiler&Machinery $20,000,000 per Accident Hartford Steam Boiler 09/30/94 $ 6,870 Public Officials Various amounts on ContinentaVHartford Various Various Bonds Designated Officials Excess Workers'Compensation $5,000,000 WC Limit Safety National 09/30/94 $ 90,000(est) Compensation $1,000,000 EL Limit $5,000,000 Combined WC and EL Excess Group Medical $875,000 Shenandoah Life 09/30/94 Various -- Life and Accidental Death and Dismemberment 1 x's Annual Salary Reliance 09/30/94 Various ... Contingent Law Enforcement Officers Professional Liabiity $1,000,000 AIG 09/30/94 $ 13,419 Annual premium on Auto Liability does not include Sheriffs Department. (1)Includes real,personal,auto physical damage,inland marine equipment,extra expense,EDP,watercraft,valuable papers and records,flood,earthquake,crime and performance bonds. (2)Includes Public Officials E&0,Medical Attendants Malpractice (3)Public Officials Liabiity 136 COLLIER COUNTY, FLORIDA SINGLE AUDIT REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 COOwrs Coopers& Lybrand L.L.P. & L rand a professional services firm — INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS —" To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida (the"County), as of and for the year ended September 30, 1994, and have issued our report thereon dated February 23, 1995. — We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and — perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. In planning and performing our audit of the general purpose financial statements of the County for the year ended September 30, 1994, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the general purpose financial statements and not to provide assurance on the internal control structure. The County's management is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility,estimates and judgments by management are required to assess the expected benefits and related — costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally — accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or — that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: Revenue/Receipts Purchases/Disbursements — Budgetary Payroll Financial Reporting — 137 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we considered to be material weaknesses as defined above. However, we noted certain matters involving the internal control structure and its operation that we have reported to the management of the County in a separate communication dated February 23, 1995. This report is intended for the information of the Board of County Commissioners and management, as well as federal and state audit agencies. However, this report is a matter of public record and its distribution is not limited. eiL4/Abte 9--446162k/e COOPERS & LYBRAND L.L.P. Fort Myers, Florida February 23, 1995 138 Coopers Coopers& Lybrand L.L.P. &Ly rand a professional services firm INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF GENERAL PURPOSE FINANCIAL STATEMENTS — PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Board of County Commissioners Collier County, Florida — We have audited the general purpose financial statements of Collier County, Florida (the"County"), as of and for the — year ended September 30, 1994, and have issued our report thereon dated February 23, 1995. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. Compliance with laws, regulations, contracts and grants applicable to Collier County, Florida, is the responsibility of the County's management. As part of obtaining reasonable assurance about whether the general purpose financial statements are free of material misstatement, we performed tests of the County's compliance with certain provisions of laws, regulations, contracts and grants. However, the objective of our audit was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion. The results of our tests indicate that, with respect to the items tested, the County complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the County had not complied, in all material respects, with those provisions. This report is intended for the information of the Board of County Commissioners and management, as well as federal and state audit agencies. However, this report is a matter of public record and its distribution is not limited. dt,giczAt2 COOPERS & LYBRAND L.L.P. Fort Myers, Florida — February 23, 1995 139 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. SCHEDULES OF FEDERAL AND STATE FINANCIAL ASSISTANCE THIS PAGE INTENTIONALLY LEFT BLANK - COO ers Coopers& Lybrand L.L.P. &Ly rand a professional services firm INDEPENDENT ACCOUNTANTS' REPORT ON SUPPLEMENTARY SCHEDULES OF FEDERAL AND STATE FINANCIAL ASSISTANCE To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida (the"County"), as of and for the year ended September 30, 1994, and have issued our report thereon dated February 23, 1995. These general purpose financial statements are the responsibility of the County's management. Our responsibility is to express an opinion on these general purpose financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the general purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Our audit was made for the purpose of forming an opinion on the general purpose financial statements of the County taken as a whole. The accompanying schedules of Federal and State Financial Assistance are presented for purposes of additional analysis and are not a required part of the general purpose financial statements. The information in those schedules has been subjected to the auditing procedures applied in the audit of the general purpose financial statements and, in our opinion, is fairly stated in all material respects in relation to the general purpose financial statements taken as a whole. deida42, 4; 45(2444C,e 0Y- oe- 11 COOPERS & LYBRAND L.L.P. Fort Myers, Florida February 23, 1995 140 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. COLLIER COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE For the Fiscal Year Ended September 30, 1994 ., Federal Federal Agency/Pass Through CFDA Grantor/Program Title Number —' UNITED STATES DEPARTMENT OF AGRICULTURE Indirect Programs: Florida Department of Education: Summer Food Service Program for Children (1994) 10.559 Summer Food Service Program for Children (1993) 10.559 Florida Department of Agriculture and Consummer Services: Cooperative Forestry Assistance 10.664 Total Department of Agriculture UNITED STATES DEPARTMENT OF COMMERCE Direct Programs: Economic Development — Grants for Public Works and Development Facilities 11.300 UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Direct Programs: Rental Housing Rehabilitation 14.230 Indirect Programs: Florida Department of Community Affairs: Community Development Block Grants\Small Cities Program 14.219 ., Community Development Block Grants\Small Cities Program 14.219 Total Department of Housing and Urban Development UNITED STATES DEPARTMENT OF JUSTICE _. Indirect Programs: Florida Department of Community Affairs: Emergency Federal Law Enforcement Assistance 16.577 Drug Control and System Improvement — Formula Grant 16.579 Program Income 16.579 Total Department of Justice Page 1 of 4 Matching Pass-Through Program Contributions - Grantor's or Award and Federal Federal Number Amount Misc. Revenues Revenue Expenditures 04-804 $ 212,881 $ - $ 143,180 $ 143,180 04-804 105,447 - (251) (251) N. A. 1,000 994 994 994 $ 319,328 $ 994 $ 143,923 $ 143,923 - 04-01-03737 $ 584,300 $ - $ - $ - - R-89-H G-12-0247 $ 92,000 $ 26,448 $ 34,700 $ 34,700 - 93DB-1A-09-21 -01-A02 250,000 1,509 66,530 66,530 93DB-1A-09-21 -01-N13 650,000 - 447,650 447,650 900,000 1,509 514,180 514,180 - $ 992,000 $ 27,957 $ 548,880 $ 548,880 95CJ-46-09-21-01 -003 $ 2,226 $ - $ 2,226 $ 2,226 94CJ-1Z-1Z-09-21-01-056 170,522 56,841 170,522 170,522 - 90CJ-67-09-21-01 -007 - - 1,750 1,750 $ 172,748 $ 56,841 $ 174,498 $ 174,498 (CONTINUED) 141 COLLIER COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE — CONTINUED For the Fiscal Year Ended September 30, 1994 -- Federal Federal Agency/Pass Through CFDA Grantor/Program Title Number UNITED STATES DEPARTMENT OF TRANSPORTATION Direct Programs: Federal Transit Capital and Operating Assistance Formula Grants 20.507 Indirect Programs: Florida Department of Transportation: ._ Highway Planning and Construction 20.205 Highway Planning and Construction 20.205 Highway Planning and Construction 20.205 Total Department of Transportation -- ENVIRONMENTAL PROTECTION AGENCY Direct Programs: Construction Grants for Wastewater Treatment Works 66.418 Construction Grants for Wastewater Treatment Works 66.418 ... Indirect Programs: Florida Department of Environmental Regulation: Capitalization Grants for State Revolving Funds 66.458 Total Environmental Protection Agency FEDERAL EMERGENCY MANAGEMENT AGENCY _ Indirect Programs: Florida Department of Community Affairs: 10111 Civil Defense—State and Local Emergency Management Assistance 83.503 Civil Defense—State and Local Emergency Management Assistance 83.503 Civil Defense—State and Local Emergency Management Assistance 83.503 Civil Defense—State and Local Emergency Management Assistance 83.503 Disaster Assistance 83.516 Disaster Assistance 83.516 Total Federal Emergency Management Agency Page 2 of 4 Matching Pass-Through Program Contributions _ Grantor's or Award and Federal Federal Number Amount Misc. Revenues Revenue Expenditures FL-90-X196 $ 75,000 $ 3,994 $ 15,973 $ 15,973 WPI 1595176 212,290 12,578 128,832 128,832 WPI 1595177 326,000 3,032 27,599 27,599 AB309/1595193 88,087 - - - - 626,377 15,610 156,431 156,431 - $ 701,377 $ 19,604 $ 172,404 $ 172,404 C120597-02-2 $ 10,872,210 $ 74,803 $ 81,504 $ 81,504 - C120597-03-3 6,822,637 107,018 130,799 130,799 17,694,847 181,821 212,303 212,303 CS120597-07-4 14,400,440 - 309,307 309,307 - $ 32,095,287 $ 181,821 $ 521,610 $ 521,610 94-EM-3W-09-21-10-011 $ 37,968 $ 37,968 $ 37,968 $ 37,968 - 93-EO-1H-09-21-01-001 1,500 212 212 212 93-E0-1G-09-21-01-002 3,700 2,387 2,387 2,387 - 94-EO-4B-09-21-01-002 2,775 2,775 2,775 2,775 93-EO-1R-09-21-01-071 2,014,532 - 125,434 125,434 93-EO-3T-09-21-01-257 60,000 18,116 56,526 56,526 - $ 2,120,475 $ 61,458 $ 225,302 $ 225,302 (CONTINUED) - 142 COLLIER COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE - CONTINUED For the Fiscal Year Ended September 30, 1994 Federal Federal Agency/Pass Through CFDA Grantor/Program Title Number UNITED STATES DEPARTMENT OF EDUCATION Indirect Programs: Florida Department of State: Public Library Services 84.034 Public Library Services 84.034 Total United States Department of Education UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES Indirect Programs: _ Florida Department of Elder Affairs to Council for Human Services of South Central Florida, Inc. Area Agency on Aging: Special Programs for the Aging-Title III, Part B - Grants for Supportive Services and Senior Centers 93.044 Special Programs for the Aging-Title III, Part B - Grants for Supportive Services and Senior Centers 93.044 Special Programs for the Aging-Title III, Part D - In-Home Services for Frail Older Individuals 93.046 Special Programs for the Aging-Title III, Part D - In-Home Services for Frail Older Individuals 93.046 -- Florida Department of Health and Rehabilitative Services: Child Support Enforcement (Title IV-D) 93.023 Child Support Enforcement (Title IV-D) 93.023 -" Florida Department of Community Affairs: Community Services Block Grant 93.569 Total Department of Health and Human Services TOTAL FEDERAL FINANCIAL ASSISTANCE Page 3 of 4 Matching Pass-Through Program Contributions Grantor's or Award and Federal Federal - Number Amount Misc. Revenues Revenue Expenditures - DLIS-93-I-09 $ 33,350 $ 11,117 $ 33,350 $ 33,350 DLIS-94-I-09 33,716 - - - 1 $ 67,066 $ 11,117 $ 33,350 $ 33,350 OAA 3-93 $ 142,424 $ 13,003 $ 39,669 $ 39,669 - OAA 030.94 143,555 33,310 113,431 113,431 OAA 3-93 10,693 468 1,776 1,776 - OAA 030.94 12,415 1,022 9,100 9,100 - HZB14 10,028 5,133 9,963 9,963 HZC14 27,206 1,669 3,239 3,239 - 94BS-40-09-21-01 -04 7,066 949 7,066 7,066 $ 353,387 $ 55,554 $ 184,244 $ 184,244 $ 37,405,968 $ 415,346 $ 2,004,211 $ 2,004,211 (CONTINUED) 143 Page 4 of 4 ., COLLIER COUNTY, FLORIDA SCHEDULE OF FEDERAL FINANCIAL ASSISTANCE - CONTINUED For the Fiscal Year Ended September 30, 1994 ,^ MAJOR GRANTS/ENTITLEMENTS Expenditures Environmental Protection Agency Construction Grants for Wastewater Treatment Works $ 212,303 Capitalization Grants for State Revolving Funds 309,307 _ U.S. Department of Housing and Urban Development Community Development Block Grants\Small Cities Program 514,180 Total Major Grants $ 1,035,790 52% NON-MAJOR GRANTS/ENTITLEMENTS -_ U.S. Department of Agriculture 143,923 U.S. Department of Commerce - U.S. Department of Housing and Urban Development 34,700 U.S. Department of Justice 174,498 U.S. Department of Transporations 172,404 Federal Emergency Management Agency 225,302 ._ U.S. Department of Education 33,350 U.S. Department of Health and Human Services 184,244 Total Non-Major Grants 968,421 48% —' TOTAL FEDERAL FINANCIAL ASSISTANCE $ 2,004,211 100% 144 �' THIS PAGE INTENTIONALLY LEFT BLANK COLLIER COUNTY, FLORIDA SCHEDULE OF STATE FINANCIAL ASSISTANCE For the Fiscal Year Ended September 30, 1994 Federal CFDA State Agency/Program Title Number FLORIDA DEPARTMENT OF COMMUNITY AFFAIRS Disaster Assistance N/A Emergency Preparedness and Assistance Trust Fund N/A Hazardous Materials N/A Radiological Emergency Preparedness N/A Aid to Local Government—Pocket of Poverty Pilot Program N/A Total Florida Department of Community Affairs FLORIDA DEPARTMENT OF ELDER AFFAIRS Florida Department of Elder Affairs to Council for Human -- Services of South Central Florida, Inc. Area on Aging: Community Care for the Elderly N/A Community Care for the Elderly N/A _ Alzheimer's Disease Initiative N/A Alzheimer's Disease Initiative N/A Total Florida Department of Elder Affairs FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION Solid Waste Recycling and Education Grant N/A ., Waste Tire Solid Waste Grant N/A Litter and Marine Debris Prevention N/A Channel Markers N/A -- Total Florida Department of Environmental Protection FLORIDA DEPARTMENT OF HEALTH AND REHABILITATIVE SERVICES Emergency Medical Services County Award N/A Emergency Medical Services Matching Grant N/A Total Florida Department of Health and Rehabilitative Services Page 1 of 2 Matching Pass-Through Program Contributions _ Grantor's or Award and State State Number Amount Misc. Revenues Revenue Expenditures 93E0-3T-09-21-01-257 $ 20,000 $ 56,526 $ 18,116 $ 18,116 94E0-4M-09-21 -01-011 70,424 - 68,539 68,539 94EP-1X-09-21-22-005 21,214 - 21,214 21,214 - 93EP-1C-09-21 -10-008 1,000 - 1,000 1,000 89HA-34-09-21-01 -003 1,000,000 - - - _ $ 1,112,638 $ 56,526 $ 108,869 $ 108,869 CCE 030.30.94 $ 401,453 $ 131,974 $ 315,347 $ 315,347 CCE 030.35.95 482,691 18,820 116,214 116,214 ADI 030.30.94 26,186 - 15,844 15,844 ADI 030.25.95 26,186 - 6,112 6,112 - $ 936,516 $ 150,794 $ 453,517 $ 453,517 RE 94-09 $ 289,511 $ - $ 289,511 $ 289,511 WT 94-09 118,032 - 74,899 74,899 _ LM 94-11 9,582 - 9,582 9,582 MR 043 25,500 - - - $ 442,625 $ - $ 373,992 $ 373,992 - C-9311 $ 47,943 $ - $ 31,416 $ 31,416 M-2534 4,223 1,096 3,288 3,288 $ 52,166 $ 1,096 $ 34,704 $ 34,704 - (CONTINUED) 145 COLLIER COUNTY, FLORIDA SCHEDULE OF STATE FINANCIAL ASSISTANCE — CONTINUED For the Fiscal Year Ended September 30, 1994 Federal CFDA State Agency/Program Title Number FLORIDA DEPARTMENT OF NATURAL RESOURCES Artificial Reef Program N/A Beach Erosion Control Assistance Program N/A Total Florida Department of Natural Resources FLORIDA DEPARTMENT OF STATE State Aid to Libraries N/A FLORIDA DEPARTMENT OF TRANSPORTATION Transportation Plan 2020 N/A MPO — Comprehensive Plan N/A Urbanized Area Comprehensive (L—R) Transportation Plan Update N/A Transit Feasibility Study\Transit Development Plan N/A Socio—Economic Forecast N/A Immokalee Airport — Aviation Fuel Farm N/A Immokalee Airport — General Aviation Terminal N/A ._ Immokalee Airport — Aircraft Parking Apron N/A Immokalee Airport — Taxiway N/A Immokalee Airport — T Hangers N/A Immokalee Airport — Entrance Road N/A Everglades City Airport — General Aviation Terminal N/A Everglades City Airport — Aviation Fuel Farm N/A Everglades City Airport — Aircraft Parking Apron N/A Everglades City Airport — T Hangers N/A Total Florida Department of Transportation OFFICE OF THE ATTORNEY GENERAL Community Juvenile Justice Partnership Grant Program N/A TOTAL STATE FINANCIAL ASSISTANCE Total library expenditures for fiscal year ended September 30, 1994 were $4,074,250. Page 2 of 2 Matching Pass-Through Program Contributions Grantor's or Award and State State Number Amount Misc. Revenues Revenue Expenditures C-8297 $ 25,000 $ - $ 25,000 $ 25,000 C-7396 66,000 - - - $ 91,000 $ - $ 25,000 $ 25,000 1 - 247 716 247,716 94 ST 07 $ 247,7 6 $ $ $ AB349/1595190 $ 19,340 $ $ 8,175 $ 8,175 A8881/1595185 13,875 - 225 225 - A8194/1595178 35,000 - (591) (591) A9759/1595179 9,375 1,997 1,997 1,997 A9854/1595189 32,000 - 732 732 03910-3802/1823282 100,000 - - - - 03910-3803/1823283 225,000 - - 03910-3804/1823284 90,000 - - - 03910-3805/1823285 232,326 - - - - 03910-3806/1823286 232,500 - - - 03910-3807/1823287 357,896 - - - 03900-3801/1823288 135,000 - - - - 03900-3802/1823289 50,000 - - - 03900-3803/1823290 65,700 - - - 03900-3804/1823291 125,000 - - - $ 1,723,012 $ 1,997 $ 10,538 $ 10,538 1 - JJ004 $ 42,045 $ - $ 10,167 $ 10,167 $ 4,647,718 $ 210,413 $ 1,264,503 $ 1,264,503 146 COLLIER COUNTY, FLORIDA NOTES TO SCHEDULES OF FEDERAL AND STATE FINANCIAL ASSISTANCE September 30, 1994 Note 1. Summary of Significant Accounting Policies Basis of accounting The County recognizes grant revenues and expenditures on a modified accrual basis in the governmental fund types and under the accrual basis in the proprietary fund types. Other revenues (i.e., interest earned) are also recognized when they become measurable and available. -- All revenues are combined and presented as total revenues. For purposes of this report, certain accounting procedures were followed,which help illustrate the receipts and disbursements of the individual grants. All grant revenues (contributions),as well as interest income, are reported as revenues, all expenses and all capital outlays are reported as expenditures. This"financial flow" emphasis shows current-year grant revenues and expenditures on an individual grant basis. — Equity in pooled cash and investments Cash and investment balances of some of the grant programs are pooled with other County funds and invested. Each of these grants maintains an equity in the pooled cash and investment account. Interest earned from investments purchased with pooled cash is allocated to each of the grants based on its average equity balance. — Note 2. Indirect Costs — Collier County provides the federal and state programs certain services and facilities consisting of disbursing, banking and general data processing support. The facilities provided include office space — and furnishings. No charges have been made to the federal and state programs for these indirect costs. 147 — Coopers Coopers&Lybrand L.L.P. &Lybrand a professional services firm INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE USED IN ADMINISTERING FEDERAL FINANCIAL ASSISTANCE PROGRAMS To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida (the"County), as of and for the year ended September 30, 1994,and have issued our report thereon dated February 23, 1995. We have also audited the County's compliance with requirements applicable to major federal financial assistance programs and have issued our report thereon dated February 23, 1995. We conducted our audits in accordance with generally accepted auditing standards; Government Auditing Standards issued by the Comptroller General of the United States; and Office of Management and Budget (OMB) Circular A-128, Audits of State and Local Governments. Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether the general purpose financial statements are free of material misstatement and about whether the County complied with laws and regulations, noncompliance with which would be material to a major federal financial assistance program. In planning and performing our audits for the year ended September 30, 1994, we considered the County's internal control structure in order to determine our auditing procedures for the purpose of expressing our opinions on the County's general purpose financial statements and on its compliance with requirements applicable to major programs and to report on the internal control structure in accordance with OMB Circular A-128. This report addresses our consideration of internal control structure policies and procedures relevant to compliance with requirements applicable to federal financial assistance programs. We have addressed internal control structure policies and procedures relevant to our audit of the general purpose financial statements in a separate report dated February 23, 1995. The management of the County is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition,that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of general purpose financial statements in accordance with generally accepted accounting principles, and that federal financial assistance programs are managed in compliance with applicable laws and regulations. Because of inherent limitations in any internal control structure,errors, irregularities, or instances of noncompliance may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. 148 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. For the purpose of this report, we have classified the significant internal control structure policies and procedures used in administering federal financial assistance programs in the following categories: . Revenue/Receipts . Purchases/Disbursements . Budgetary . Payroll . Financial Reporting General Reauirements: -- . Political Activity . Davis-Bacon Act _ . CMI Rights . Cash Management . Federal Financial Reports . Allowable Costs/Cost Principles . Drug-Free Workplace . Administrative Requirements Specific Reauirements: . Types of Services Allowed or Unallowed . Eligibility . Matching, Level of Effort and/or Earmarking . Reporting . Special Tests and Provisions -- Claims for Advances and Reimbursements Amounts Claimed or Used for Matching For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and determined whether they have been placed in operation, and we assessed control risk. During the year ended September 30, 1994, the County expended 52 percent of its total federal financial assistance -- under major federal financial assistance programs and the following nonmajor federal financial assistance program: Environmental Protection Agency Construction Grants for Wastewater Treatment Works. We performed tests of controls, as required by OMB Circular A-128, to evaluate the effectiveness of the design and ., operation of internal control structure policies and procedures that we considered relevant to preventing or detecting material noncompliance with specific requirements, general requirements, and requirements governing claims for advances and reimbursements and amounts claimed or used for matching that are applicable to the County's major federal financial assistance programs, which are identified in the accompanying Schedule of Federal Financial Assistance, and the aforementioned nonmajor program. Our procedures were less in scope than would be necessary to render an opinion on these internal control structure policies and procedures. Accordingly,we do not -- express such an opinion. 149 Our consideration of the internal control structure policies and procedures used in administering federal financial assistance would not necessarily disclose all matters in the internal control structure that might constitute material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control structure elements does not reduce to a relatively low level the risk that noncompliance with laws and regulations that would be material to a federal financial assistance program may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operations that we considered to be material weaknesses as defined above. However, we noted certain matters involving the internal control structure and its operation that we have reported to the management of the County in a separate communication dated February 23, 1995. This report is intended for the information of the Board of County Commissioners and management, as well as federal and state audit agencies. However, this report is a matter of public record and its distribution is not limited. 64/21442- fk/ 41•44AZ 41(- )41 COOPERS & LYBRAND L.L.P. Fort Myers, Florida February 23, 1995 150 Coopers Coopers& Lybrand L.L.P. &Lybrand a professional services firm INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE WITH SPECIFIC REQUIREMENTS APPLICABLE TO MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida (the"County"), as of and for the year ended September 30, 1994, and have issued our report thereon dated February 23, 1995. We have audited the County's compliance with the requirements governing types of services allowed or unallowed; eligibility; matching, level of effort, and/or earmarking; reporting; special tests and provisions, if any; claims for advances and reimbursements; and amounts claimed or used for matching that are applicable to each of its major federal financial assistance programs, which are identified in the accompanying Schedule of Federal Financial Assistance for the year ended September 30, 1994. The management of the County is responsible for Collier County,Florida,compliance with those requirements. Our responsibility is to express an opinion on compliance with those requirements based on our audit. We conducted our audit of compliance with those requirements in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States and Office of Management and Budget(OMB) Circular A-128,Audits of State and Local Governments. Those standards and OMB Circular A-128 require that we plan and perform the audit to obtain reasonable assurance about whether material noncompliance with the requirements referred to above occurred. An audit includes examining, on a test basis, evidence about the County's compliance with those requirements. We believe that our audit provides a reasonable basis for our opinion. The results of our audit procedures disclosed immaterial instances of noncompliance with the requirements referred to above,which are described in the accompanying Schedule of Findings, Questioned Costs and Plan of Corrective —' Action. We considered these instances of noncompliance in forming our opinion on compliance,which is expressed in the following paragraph. In our opinion, the County complied, in all material respects, with the requirements governing types of services allowed or unallowed; eligibility; matching, level of effort, or earmarking; reporting; special requirements, if any; claims for advances and reimbursements; and amounts claimed or used for matching that are applicable to each of its major federal financial assistance programs for the year ended September 30, 1994. This report is intended for the information of the Board of County Commissioners and management, as well as federal and state audit agencies. However, this report is a matter of public record and its distribution is not limited. —" 426ta oC. oC _ COOPERS & LYBRAND L.L.P. Fort Myers, Florida February 23, 1995 151 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. _ Coo ers Coopers&Lybrand L.L.P. &Lybrand a professional services firm INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE WITH GENERAL REQUIREMENTS APPLICABLE TO FEDERAL FINANCIAL ASSISTANCE PROGRAMS To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida (the"County"),as of and for the year ended September 30, 1994, and have issued our report thereon dated February 23, 1995. We have applied procedures to test the County's compliance with the following requirements applicable to federal financial assistance programs, which are identified in the Schedule of Federal Financial Assistance, for the year ended September 30, 1994: Political Activity • Davis-Bacon Act • Civil Rights Cash Management Relocation Assistance and Real Property Acquisition Federal Financial Reports Allowable Costs/Cost Principles Drug-Free Workplace • Administrative Requirements Matching Requirements Our procedures were limited to the applicable procedures described in the Office of Management and Budget's Compliance Supplement for Single Audits of State and Local Governments. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the County's compliance with the requirements listed in the preceding paragraph. Accordingly, we do not express such an opinion. With respect to the items tested,the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the second paragraph of this report. With respect to items not tested, nothing came to our attention that caused us to believe that the County had not complied, in all material respects, with those requirements. However, the results of our procedures disclosed immaterial instances of noncompliance with those requirements, which are described in the accompanying Schedule of Findings, Questioned Costs and Plan of Corrective Action. — This report is intended for the information of the Board of County Commissioners and management, as well as federal and state audit agencies. However, this report is a matter of public record and its distribution is not limited. _ 1444t-a f& o( •d• 1� COOPERS & LYBRAND L.L.P. Fort Myers, Florida February 23, 1995 152 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. COO ers Coopers&Lybrand L.L.P. — &Ly rand a professional services firm INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO STATE —' FINANCIAL ASSISTANCE PROGRAMS To the Board of County Commissioners Collier County, Florida We have audited the general purpose financial statements of Collier County, Florida (the"County"), as of and for the year ended September 30, 1994, and have issued our report thereon dated February 23, 1995. As required by Rules of the Auditor General, Chapter 10.600, Audits of State Grant and Aid Appropriations, in connection with our audit of the financial statements of the County, we selected certain transactions applicable to certain state financial assistance programs for the year ended September 30, 1994. We have performed auditing procedures to test compliance with the requirements governing the County's state financial assistance that are applicable to those transactions. Our procedures were substantially less in scope than an audit, the objective of which is the expression of an opinion on the County's compliance with these requirements. Accordingly,we do not express such an opinion. — With respect to the items tested,the results of those procedures disclosed no material instances of noncompliance with the requirements listed in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the County had not complied, in all material respects,with those provisions. In addition, during the course of our audit of the County, nothing came to our attention to indicate that the County failed to comply with the loan covenants of the State Revolving Fund CS 120597070 or that the County would be unable to repay the loan. This report is intended for the information of the Board of County Commissioners and management, as well as state — audit agencies. However, this report is a matter of public record and its distribution is not limited. 4/44 POYeze6faa COOPERS & LYBRAND L.L.P. —' Fort Myers, Florida February 23, 1995 153 Coopers&Lybrand L.L.P.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. THIS PAGE INTENTIONALLY LEFT BLANK COLLIER COUNTY, FLORIDA — SCHEDULE OF FINDINGS, QUESTIONED COSTS AND PLAN OF CORRECTIVE ACTION For the Fiscal Year Ended September 30, 1994 Federal Agency/Program Title Findings U.S. Department of Agriculture None U.S. Department of Commerce None U.S. Department of Housing and Urban Development 1. Community Development Block Grant (CDBG) Community Development Block Grants programs require grant funds be expended within three days of receipt. However, any earned interest on advanced funds should be remitted to the Department. On the Hurricane Andrew CDBG grant, the County received advances and did not remit the interest earned on the grant. -- 2. The CDBG programs agreement indicates fund- ing will be made available to the recipient as reimbursement for costs incurred in the satis- factory performance of grant specific work. On the Copeland CDBG grant, the County did not submit a reimbursement request until October —' 1994. The request submitted was initially re- jected by the Department due to errors in the County's retainage calculation. This condition ._ has resulted in the County funding CDBG activity through the General Fund and the loss of interest that would have been earned on the applied General Funds. —' 3. The State of Florida, Department of Community Affairs (DCA) noted in the monitoring report of the Copeland CDBG grant that the engineering contract used the percentage of construction cost compensation method for the design fees. This compensation method is prohibited under 24 CFR Part 85.39 (f)(4). No questionable costs were identified by DCA. U.S. Department of Justice None U.S. Department of Transportation None — U.S. Environmental Protection Agency None Federal Emergency Management Agency None U.S. Department of Education None U.S. Department of Health and Human Services None N/A - Not Applicable Page 1 of 2 Questioned Costs Plan of Corrective Action $ -0- N/A $ -0- N/A $ 967 1. The County will submit interest earned on any advanced funds on a timely basis. $ -0- 2. The County will strive to improve the timeliness of its reimbursement requests. $ -0- 3. For future CDBG projects, the County will ensure that professional service contracts are reviewed for compliance with Federal requirements prior to approval. $ -0- N/A $ -0- N/A $ -0- N/A $ -0- N/A $ -0- N/A $ -0- N/A 154 COLLIER COUNTY, FLORIDA SCHEDULE OF FINDINGS, QUESTIONED COSTS AND PLAN OF CORRECTIVE ACTION For the Fiscal Year Ended September 30, 1994 State Agency/Program Title Findings Florida Department of Community Affairs None Florida Department of Elder Affairs None Florida Department of Environmental Regulation - 1. Final reimbursement request not submitted -- Solid Waste Recycling and Education Grant prior to the deadline of October 31, 1994. Florida Department of Health and Rehabilitative _ Services None Florida Department of Natural Resources None Florida Department of State None Florida Department of Transportation None —. Office of the Attorney General None N/A - Not Applicable Page2of2 Questioned Costs Plan of Corrective Action $-0- N/A $-0- N/A $-0- 1. The County will strive to submit reimbursement requests on a timely basis. $-0- N/A $-0- N/A $-0- N/A $-0- N/A $-0- N/A • 155 THIS PAGE INTENTIONALLY LEFT BLANK Coopers Coopers& Lybrand L.L.P. &L rand a professional services firm February 23, 1995 Collier County, Florida Board of County Commissioners In connection with our audit of the general purpose financial statements of Collier County, Florida, for the year ended September 30, 1994, we are submitting the following comments and recommendations in accordance with Chapter 10.550 "Rules of the Auditor General - Local Governmental Entity Audits" '— (Revised September 30, 1994) and Section 11.45(3)(a)4., of the Florida Statutes. PRIOR YEAR COMMENTS WHICH CONTINUE TO APPLY The comments in our letter dated December 16, 1993, were resolved during the current year except for those items noted below: 1. Automate Customer System Development Charges Receivable Accounting Customer system development charges (impact fees) receivable are being kept manually. The effects at this time are clerical inaccuracies and time inefficiencies. Due to the increased usage of these charges, we recommend this function be automated to increase efficiency and accuracy. We understand the County is working with a software vendor to automate this function. We encourage the completion of this process. 2. A Disaster Recovery Plan Should be Developed and Implemented Disaster recovery plans have not been developed for the four Collier County computer _ installations. The MIS Directors for the Property Appraiser, Sheriff and Tax Collector offices have had preliminary discussions with other counties that maintain similar NCR computer environments to use their facilities on a temporary basis. However, they are currently placing reliance on each other's installations if there is a prolonged system failure. These arrangements would not be adequate in the event of a disaster that affects the entire government complex. The applications for the Clerk of the Circuit Court, Utilities Division and Board of County Commissioners are current processed at one installation using DEC computers. The MIS Director has contacted DEC for an alternative processing site; however, a proposal has not been approved. Further, the current strategy of the Board is to develop a new and separate installation for processing only their applications, which will require additional arrangements for disaster recovery. 1 Coopers&Lybrand LLP.,a registered limited liability partnership,is a member firm of Coopers&Lybrand International. PRIOR YEAR COMMENTS WHICH CONTINUE TO APPLY, Continued 2. A Disaster Recovery Plan Should be Developed and Implemented, continued -- The absence of a disaster recovery plan diminishes the assurance that computer operations can be restored within the required amount of time and that recovery procedures will be implemented cost-effectively. We recommend that each entity develop a formal disaster recovery plan. This plan should address the following areas: • identification of an off-site processing location; –' • prioritization of the applications based on operational requirements and a schedule for _ processing at the remote location; and _ • roles and responsibilities for re-establishing the primary processing location. The plan should also be tested on a periodic basis to ensure its continued effectiveness. ._ CURRENT YEAR COMMENTS ._ 1. An Accurate Aged Receivable Report for Utilities' Billed Receivables Should be Maintained -- During our review of controls at the Water and Sewer Districts, we noted that there remains an unreconciled difference between the accounts receivable subsidiary and the general ledger balance. — The potential effect of this recurring discrepancy is the misstatement of the accounts receivable balance. We recommend that the source of the inaccuracies in the aged receivables report be determined and corrected. 2. Gains on Sale of Investments Included in Investment Interest Income Currently the County records and reports all investment income as interest income. This has resulted in the overstatement of interest income as gains on the sale of investments have been included in the total reported as interest income. We understand this results from the level of — information provided by the County's investment trustee. In order to more accurately gauge the interest earnings on the County's investments, we — recommend the County work with its investment trustee to report interest income separately from gains or losses on sale of investments. 2 CURRENT YEAR COMMENTS, Continued 3. Workers' Compensation Liability Should be Accrued on a Consistent Basis _ In prior years, the County has accrued workers' compensation liability based on an actuarial study's estimated liability for unpaid losses on a non-discounted basis. For the current year, the County reduced its workers' compensation liability based on the estimated funding amount on a discounted basis. While both a discounted and non-discounted basis are allowed, generally accepted accounting principles require that, once a principle is adopted, it should be consistently applied in order to prevent a distortion of the financial information from year to year. The change in accounting of the workers' compensation liability to a discount basis has resulted in the accrual being approximately $650,000 less than if the accrual balance at 100% of the liability had been used. We recommend that the County ensure that its workers' compensation liability be consistently presented. 4. Overstatement of the Allowance Account for Uncollectible EMS Receivables The monthly adjustment to record an allowance for uncollectible accounts receivable for the Emergency Medical Services (EMS) is currently based on a percentage of monthly billings without regard to the actual accounts receivable balance. This has resulted in the understatement of the net receivable balance. As a result of the audit finding, an adjustment was made to more accurately reflect the net accounts receivable and bad debt expense balances at fiscal year-end. We recommend that EMS management institute a procedure whereby EMS accounts receivable are regularly and routinely reviewed for collectibility. Based on this review a proper allowance for those accounts where collectibility is determined to be doubtful can be established. 5. Investment Policy Should be Reviewed and Updated as Necessary The County's current investment policy was approved in 1987. Given the rapid pace of change in the investment market, it may be appropriate to redefine the investment objectives, policies and procedures of the County. We recommend that any new investment policy specifically identify investment quality and maturity requirements as well as _ procedural and documentation standards to be maintained. The role and responsibilities of the Treasurer and any committee or staff serving in an oversight capacity should be well defined. Remedies for noncompliance should also be considered in the investment policy. 3 We have included in this letter all comments which came to our attention during the course of our audit regarding Items 1 through 7 of the "Rules of the Auditor General -Local Governmental Entity Audits," Rule 10.554, Section (1)(f). In regard to Item 3, nothing came to our attention to cause us to believe that at any time during the year the County met any of the criteria for being in a state of financial emergency as defined in Florida Statute 218.503(1). Additionally, in regard to Item 7(c), we represent that the financial report filed with the Department of Banking and Finance, pursuant to Florida Statute 218.32, is in agreement with the annual financial audit for the same period. This report is intended solely for the use of management and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. ._ 4,4a. 9, e2Y. COOPERS & LYBRAND L.L.P. County of Collier 04 qt1£Ct/tCG ,itIff l'‘ CLERK OF THE CIRCUIT COURT COLLIER COUNTY COURTHOUSE v 4, 3301 TAMIAMI TRAIL EAST P.O.BOX 413044 p�UUNC� NAPLES,FLORIDA 33941-3044 CIRCUIT COURT COUNTY COURT COUNTY Dwight E. Brock April 26, 1995 CLERK BOARD OOFER Clerk COUNTY COMMISSIONERS Ms. Phyllis Jones Coopers & Lybrand L.L.P. Certified Public Accountants 12800 University Drive, Suite 400 Ft. Myers, Florida 33907 Dear Ms. Jones: We have reviewed your firm's Management Letter as submitted regarding the audit of the Board of County Commissioners,Collier County, Florida,for the fiscal year ended September 30, 1994. In accordance with Chapter 10.550, Rules of the Auditor General and Section 11.45, F.S., your firm's Management Letter and the attached written statements of responses will be presented to the Board of County Commissioners on May 9, 1995, in a workshop, along with the presentation of the Comprehensive Annual Financial Report (CAFR). The written statement contains a response to all auditor comments in the Management Letter. S'i cerely, Dwight 4:rock _ Clerk to the Circuit Court as ex-officio Clerk of the Board of County Commissioners DEB/rmb "- Attachment 5 MANAGEMENT LEITER RESPONSES - COWER COUNTY, FLORIDA FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 PRIOR YEAR COMMENTS 1. Automate Customer System Development Charges Receivable Accounting - Response: The Board of County Commissioners has approved a contract with Sandpiper to make several modifications and improvements to the _ software used by the Utilities Department. Automation of the system development receivable is included in this contract and is ranked as the top priority. The automation of this function is scheduled to be completed and implemented during fiscal year 1995. 2. A Disaster Recovery Plan Should be Developed and Implemented Response: A Business Risk Analysis has been completed for applications of the Clerk of the Circuit Court which confirms that the financial risks justify expenditure of funds to establish business recovery capability. To avoid duplication of effort and costs,the Clerk's MIS Department intends to join with the newly formed Information -. Technology Division of the Board of County Commissioners, the Property Appraiser, Sheriff and Tax Collector. Implementation funding will be requested during the annual budget process and a plan developed. CURRENT YEAR COMMENTS 1. An Accurate Aged Receivable Report for Utilities' Billed Receivables Should be Maintained Response: We agree with this comment and in an effort to resolve the discrepancies identified in the accounts receivable subsidiary — ledger the Clerk's Finance Department and the Utilities' Finance Department have created a joint task force. This combined effort will continue to conduct research into the nature of the differences between the general ledger and the subsidiary ledger making resolution of this problem a priority. The Internal Audit Department has also agreed to review the accounts receivable as part of the on-going internal audit of this division. 6 _' CURRENT YEAR COMMENTS - CONTINUED 2. Gains on Sale of Investments Included in Investment Interest Income Response: We agree that interest income and gains, from the sale of securities, should be separated and highlighted as a means of evaluating the manner and efficiency with which the pooled investment account is being managed. We will pursue development of procedures to record investment income and interest income separately and evaluate the cost effectiveness of implementing this change. 3. Worker's Compensation Liability Should be Accrued on a Consistent Basis Response: We are in agreement that the estimated liability for unpaid losses should be recorded in a consistent manner. In our opinion this should be done on a discounted basis from this year forward. One '— of the primary advantages of self-insurance.is taking into account the ability to earn interest on funds held for future claims payments and to reduce the cost of the overall program in the initial year in anticipation of those interest earnings. Further, it would seem that estimating the liability on an undiscounted basis would create a potential for overfunding. 4. Overstatement off the Allowance Account for Uncollectible EMS Receivables Response: We agree with both the comment and the recommendation. On October 1, 1994 the County began a new process for EMS billing as approved by the Board of County Commissioners. The County began accepting assignment, went to a flat fee per ambulance transport and entered into an agreement with the Naples Community Hospital'billing subsidiary for the use of their billing and receivable management software. Considering those facts, staff anticipates.that bad debt expense will decrease significantly. A set of procedures will be developed and implemented to periodically (monthly) review EMS accounts receivable for collectibility. An adequate and appropriate allowance for doubtful accounts will be established and recorded based on collectibility as opposed to a percentage of billings. 7 CURRENT YEAR COMMENTS - CONTINUED 5. Investment Policy Should be Reviewed and Updated as Necessary — Response: We agree that the investment policy should be reviewed and updated as necessary. A new investment policy has been drafted and is in the final stages of revision. The policy will be adopted and implemented during fiscal year 1995 upon the Board of County Commissioners approval. — In addition, an Investment Committee has been formed to oversee the activities of the investment portfolio and to monitor the -- Treasurer's investment decisions. The purpose of this oversight committee is to ensure that the County is conforming to its investment policy. -- • 8 -- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT FINANCIAL STATEMENTS, TOGETHER WITH REPORTS OF INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT TABLE OF CONTENTS Page REPORT OF INDEPENDENT ACCOUNTANTS 1 FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Group 2 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types and Expendable Trust Fund 3 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - All Governmental Fund Types 4 Notes to Financial Statements 5 - 12 SUPPLEMENTARY INFORMATION Combining Balance Sheet - Fiduciary Fund Types 13 Combined Statement of Changes in Assets and Liabilities - All Agency Funds 14 INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 15 - 16 INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 17 MANAGEMENT LETTER 18 REPORT OF INDEPENDENT ACCOUNTANTS Honorable Dwight Brock Clerk of the Circuit Court Collier County, Florida We have audited the financial statements of the Collier County, Florida, Clerk of the Circuit Court as of and for the year ended September 30, 1994, as listed in the Table of Contents. These financial statements are the responsibility of the Clerk's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and _ Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Collier County, Florida, Clerk of the Circuit Court at September 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supplementary data, included on pages 13 and 14 is presented for purposes of additional analysis and is not a required part of the financial statements of the Collier County, Florida, Clerk of the Circuit Court. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. 6.9auf-sa °Y 64aud G c • !0 COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 15, 1994 -1- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUP _ September 30, 1994 Governmental Fund Types Special General Revenue ASSETS AND OTHER DEBIT _ Cash and investments $1,906,080 $811,318 Investment with trustee - - Due from other Constitutional Officers 70,520 52 Due from other governments 3,053 - Documentary stamps - - Amount to be provided for retirement of general long-term debt - - Total assets and other debit $1.979.653 $811.370, LIABILITIES AND FUND EQUITY LIABILITIES Vouchers payable $ 269,307 $231,993 Accrued liabilities 150,047 - Due to other Constitutional Officers 1,411,363 - Due to other governments 19,680 - Deferred compensation payable - - Deposits 129,256 - Accrued compensated absences - - Total liabilities 1.979.653 231.993 FUND EQUITY Fund balances - unreserved, undesignated - 579.377 Total liabilities and fund equity $1.979.653, $811,370, See Accompanying Notes. Fiduciary Account Fund Types Group General Total Trust and Long-Term (Memorandum Agency Debt Only) $3,256,239 $ - $5,973,637 828,946 - 828,946 218 - 70,790 3,053 82,610 - 82,610 335.690 335.690 $4,168.013 $335.690 $7,294,726 -- $ 717 $ - $ 502,017 - 150,047 272,343 - 1,683,706 766,965 - 786,645 828,946 828,946 2,281,519 - 2,410,775 335.690 335.690 4.150.490 335.690 6.697.826 17,523 - 596.900 $4.168.013 $335,690, $7.294,726, -2- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUND For the Fiscal Year Ended September 30, 1994 _ Governmental Fiduciary Fund Types Fund Type Special Total General Revenue Expendable (Memorandum Fund Fund Trust Fund Only) Revenues Charges for services $ 3,400,245 $ 176,381 $90,326 $ 3,666,952 Miscellaneous 230.204 30,411 570 261.185 Total revenues 3,630.449 206.792 90.896 3.928,137 Expenditures Current General government Personal services 5,348,593 3,959 - 5,352,552 Operating expenditures 811,525 1,025 33,462 846,012 Capital outlay 382.077 329.294 48.140 759.511 Total expenditures 6.542.195 334.278 81.602 6,958.075 Excess of revenues over (under) expenditures (2.911.746) (127.486) 9,294 (3,029.938) Other financing sources (uses) Fund equity transfer in 370,135 - - 370,135 Operating transfers in 3,917,200 - - 3,917,200 Operating transfers out (1.375.589) - - (1.375.589) Total other financing sources 2.911.746 - - 2.911.746 Excess of revenues and other financing sources over (under) expenditures and other financing uses - (127,486) 9,294 (118,192) Fund balances, October 1, 1993 - 706.863 8.229 715,092 Fund balances, September 30, 1994 $ -0- $ 579,377, $17,523 $ 596.900 See Accompanying Notes. -3 COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - ALL GOVERNMENTAL FUND TYPES For the Fiscal Year Ended September 30, 1994 General Fund Variance- Favorable Budget Actual (Unfavorable) Revenues Charges for services $ 3,247,900 $ 3,400,245 $ 152,345 Miscellaneous 128,700 230.204 101,504 Total revenues 3.376,600 3.630.449 253.849 Expenditures Current General government Personal services 5,837,800 5,348,593 489,207 Operating expenditures 1,088,400 811,525 276,875 Capital outlay 403.800 382.077 21.723 Total expenditures 7.330.000 6.542.195 787.805 Excess of revenues over (under) expenditures (3.953.400) (2.911.746) 1.041.654 Other financing sources (uses) Fund equity transfer in 36,200 370,135 333,935 Operating transfers in 3,917,200 3,917,200 - Operating transfers out - (1.375.589) (1.375.589) Total other financing sources 3.953.400 2.911.746 (1.041.654) Excess of revenues and other financing sources over _ expenditures and other financing uses - - - Fund balances, October 1, 1993 - - - Fund balances, September 30, 1994 -0- See Accompanying Notes. _ Total Special Revenue Fund (Memorandum Only) Variance- Variance- Favorable Favorable Budget Actual (Unfavorable) Budget Actual (Unfavorable) $ 159,200 $ 176,381 $ 17,181 $ 3,407,100 $ 3,576,626 $ 169,526 18.000 30.411 12.411 146.700 260,615 113.915 177.200 206,792 29,592 3.553,800 3.837.241 283.441 3,959 (3,959) 5,837,800 5,352,552 485,248 129,800 1,025 128,775 1,218,200 812,550 405,650 737.000 329,294 407.706 1.140.800 711.371 429.429 866.800 334.278 532.522 8.196.800 6.876.473 1.320.327 (689.600) (127.486) 562.114 (4.643.000) (3.039.232) 1.603.768 36,200 370,135 333,935 - - 3,917,200 3,968,300 - - - - (1.375.589) (1.375.589) - 3.953.400 2,911.746 (1.041.654) (689,600) (127,486) 562,114 (689,600) (127,486) 562,114 689.600 706.863 17.263 689.600 706.863 17.263 $ -0- $ 579,377 $579,377 $ -0- $ 579.377 $ 579.377 -4- COLLIER COUNTY, FLORIDA '— CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies The following is a summary of the more significant accounting principles and policies: (a) Defining the governmental reporting entity The Collier County, Florida, Clerk of the Circuit Court (the Clerk) , as an elected constitutional officer and county agency, is considered a part of the Collier County Board of County Commissioners (primary government) . As such, the Clerk's financial statements are included in the general purpose financial statements of Collier County. Effective for the year ended September 30, 1994, the Clerk adopted Governmental Accounting Standards Board (GASB) Statement Number 14, "Financial Reporting Entity," which requires the financial statements of the reporting entity to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government or financial reporting entity are financially accountable. Based on the criteria established by GASB 14, there are no component units included in the Clerk's financial statements. (b) Fund accounting The accounts of the Clerk are organized on the basis of funds and an account group, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures, as appropriate. Government resources are allocated to, and accounted for, in individual funds, based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The following fund types and account group are used by the Clerk: Governmental Fund Types General Fund - The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Clerk, which are not properly accounted for in another fund. All operating revenues, which are not specifically restricted or designated as to use, are recorded in the General Fund. General property taxes levied by the Collier County Board of County Commissioners (Board) for the Clerk are reported as operating transfers in. Excess revenues at the end of the year, due back to the Board, are shown as operating transfers out. Special Revenue Fund - The Special Revenue Fund is used to account for the proceeds of specific revenue sources (other than expendable trusts) requiring separate accounting because of legal or regulatory provisions or administrative action. -5- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (b) Fund accounting, continued Fiduciary Fund Types Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by public officials in a trustee capacity or as an agent for individuals, private organizations, other governments and/or other funds. These funds include an Expendable Trust Fund and Agency Funds. — Account Group General Long-Term Debt - This self-balancing account group is used to account for the principal amounts of general long-term indebtedness, as well as the long-term portion of compensated absences. (c) Measurement focus Governmental Fund Types - The General Fund and Special Revenue Fund are accounted for on a "spending" or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on the balance sheet. Accordingly, the reported _ undesignated fund balance (net current assets) is considered a measure of available, spendable or appropriable resources. Governmental Fund Type operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Fiduciary Fund Types - Expendable Trust Funds are accounted for in essentially the same manner as the Governmental Funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Account Group - The General Long-Term Debt Account Group is concerned only with the measurement of financial position. It is not involved with the measurement of results of operations. Long-term debts which are not intended to be financed through other funds are accounted for in the General Long-Term Debt Account Group. (d) Basis of accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. -6- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (d) Basis of accounting, continued The modified accrual basis of accounting is followed by the General, Special Revenue, Expendable Trust and Agency Funds. The modification in such method from the accrual basis is that revenues are recorded when they become measurable and available as net current assets. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on general long-term debt, which is recognized when due; and (2) expenditures are not divided between years by the recording of prepaid expenses. (e) Budgetary process Chapter 218, Florida Statutes, governs the preparation, adoption and administration process of the Clerk's annual budget. The Clerk's budget is prepared in two parts. One portion relates to the State court system and is required to be filed with the State Court Administrator. The remaining portion relates to the requirements of the Clerk, as Clerk of the Board, County auditor and custodian, or treasurer, of all County funds. This portion of the budget is approved by the Board. The budgets for the General Fund and Special Revenue Fund are prepared on the modified accrual basis. The annual budgets serve as the legal authorization for expenditures. Expenditures cannot legally exceed the total amount budgeted for each fund. All budget amendments relating to the requirements of the Clerk as Clerk of the Board, County auditor and custodian of all County funds, which change the legally adopted total appropriation for a fund, are approved by the Board. The level of control for appropriations is exercised at the fund level. (f) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is employed in the General Fund. All encumbrances lapse at year-end. Therefore, encumbrances are not compared to authorized appropriations and no portion of fund balance is reserved. -7- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (g) Fixed assets Acquisitions of tangible personal property are recorded as expenditures in the General Fund, Special Revenue Fund and Expendable Trust Fund at the time of purchase. These assets are reported at cost to the Board and are recorded in the Board's General Fixed Asset Account Group. (h) Compensated absences It is the Clerk's policy to allow employees to accumulate an unlimited number of hours of unused sick leave and up to 240 hours of unused vacation leave. Upon termination an employee is vested in a portion of the unused sick leave based upon length of service. All employees are vested in 100 percent of allowable accumulated vacation hours. For the fiscal year ended September 30, 1994, the liability relating to the vested unused sick leave and the full amount of the allowable accumulated vacation leave are recorded in the accompanying financial statements. Because the amount of accrued compensated absences would not normally be liquidated with expendable available resources it is recorded in the General Long-Term Debt Account Group. In accordance with GASB Statement Number 16, "Accounting for Compensated Absences," adjustments were made to the compensated absences balance to include employer payroll taxes and retirement contributions. The effect of the adjustment was to increase general long-term debt by $23,855. (i) Total column on combined financial statements The total column on the combined financial statements is captioned "Memorandum Only" to indicate that it is presented only to facilitate financial analysis. Data in this column does not present financial position or results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a _ consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2. Cash and Investments The Clerk maintains a pooled cash and investment program that is available — for use by all Clerk controlled funds. Each fund type's portion of this pool is displayed on the combined balance sheet under the heading of Cash and Investments. Investment income is allocated monthly to participating funds based on the percentage of each fund's average balance in the total pool. In addition, certain investments are separately held in the Agency Fund. -8- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 2. Cash and Investments, Continued Florida Statutes and the Clerk's Investment Policy authorize investments in certificates of deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund administered by the Florida State Board of Administration, obligations of the U.S. Government and government agencies unconditionally guaranteed by the U.S. Government. The Clerk's investments with the Local Government Surplus Funds Trust Fund have a carrying and a market value of $3,095,814. The Clerk's deposits are covered by federal depository insurance or by collateral pursuant to the Public Depository Security Act of the State of Florida in Collier County's name. In addition, at September 30, 1994, the Clerk's investment with trustees (investment in mutual funds for the deferred compensation plan) totaled $828,946 which equals market value. These investments are not required to be categorized pursuant to GASB Statement Number 3, "Deposits with Financial Institutions, Investments (including Repurchase Agreements) and Reverse Repurchase Agreements, " because they are not represented by underlying securities that each is either physical or book entry form. Note 3. Retirement Plan Plan Description and Provisions All full-time Clerk employees are participants in the statewide Florida Retirement System (System) under the authority of Article X, Section 14 of the State Constitution and Florida Statutes, Chapters 112 and 121. The payroll for Clerk employees covered by the System for the year-end September 30, 1994 was $3,638,566; the Clerk's total payroll was $3,741,420 for the same period. The Clerk's contributions to the plan were $659,185 which represented approximately 18% of the Clerk's covered payroll. There were no employee contributions to the plan. Total annual covered payroll of the entire System for its fiscal year ended June 30, 1993 (the latest fiscal year for which data is available) was approximately $14.6 billion. Total annual employer contributions to the System for the 1993 fiscal year were $2.6 billion. The Clerk's — contributions were .03% of the requirement for all employers. Employees who retire at or after age 62 with 10 years of creditable _ service (eight years for elected state officials) , 10 years of special risk service and age 55, or 30 years of service regardless of age, are entitled to a retirement benefit, payable for life, equal to 1.6% to 3.33% per year of creditable service, depending on the class of employee (regular, special risk, etc.) . -9- — II COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 3. Retirement Plan, Continued Plan Description and Provisions, continued Benefits vest after ten years (eight years for elected state officials) of credited service. Early retirement may be taken any time after vesting; however, there is a 5% benefit reduction for each year prior to normal retirement age or date. Disability and survivor benefits are also offered. Benefits are estab- lished by state statute. The plan provides for a constant 3% cost-of- living adjustment for retirees as required by state law. Description of Funding Policy This is a cost-sharing, multi-employer plan available to governmental units within the state and actuarial information with respect to an individual participating entity is not available. Participating employers are required by statute to pay monthly contributions at actuarially determined rates that, expressed as percentages of annual covered payroll, are adequate to accumulate sufficient assets to pay benefits when due. The amount shown below as "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, assess progress in accumulating sufficient assets to pay benefits when due, and make compari- sons among Public Employee Retirement Systems. The measure is independent of and should not be confused with the actuarial funding method used to determine contributions to the System. In accordance with GASB Statement Number 5, "Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers," an actuarial valuation to determine the pension benefit obligation as of June 30, 1993 was performed by the System's consulting actuaries. Significant actuarial assumptions used include (a) a rate of return on the investment of present and future assets of 8% per year compounded annually; (b) projected salary increases of 5.5% per year compounded annually, attributable to inflation; (c) additional projected salary increases of 2% per year attributable to seniority/merit; and (d) a post-retirement benefit increase of 3% per year. There were no significant changes made to benefit provisions since the last valuation. At June 30, 1993 (the latest year for which data is available) , the pension benefit obligation was approximately $39.7 billion. The System's net assets available for benefits on that date were approximately $29.1 billion (market value) , resulting in an unfunded pension benefit obligation of approximately $10.6 billion. -10- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 3. Retirement Plan, Continued Trend Information Ten-year historical trend information presenting the System's progress in accumulating sufficient assets to pay benefits when due is presented in the System's June 30, 1993 annual financial report. Note 4. Deferred Compensation Plan Under an agreement with the National Association of County Officers (NACO) , the Clerk offers his employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all Clerk employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights, are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Clerk (without being restricted to the provisions of benefits under the plan) , subject only to the claims of the Clerk's general creditors. Participants' rights under the plan are equal to those of general creditors of the Clerk in an amount equal to the fair value of the deferred account for each participant. The Clerk believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. Note 5. Self-Insurance Program The Clerk participates in the County-wide self-insurance programs. The Board maintains a self-insurance internal service fund to administer _ insurance activities relating to workers' compensation, health and property and casualty. The County absorbs losses up to a specified amount annually. Excess and other specific coverages are purchased from third-party carriers. Charges to operating departments are based upon amounts believed by the Board's management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the programs. For fiscal year ended September 30, 1994, the Clerk was charged approximately $663,000 for these programs. -11- _ COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 6. Changes in General Long-Term Debt The following changes in general long-term debt occurred during the year ended September 30, 1994: Accrued compensated absences payable at October 1, 1993 $303,046 Increase in accrual for compensated absences 32.644 Accrued compensated absences payable at September 30, 1994 $335,690, -12- SUPPLEMENTARY INFORMATION COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT COMBINING BALANCE SHEET - FIDUCIARY FUND TYPE September 30, 1994 Fiduciary Fund Types _ Expendable Trust Agency Total ASSETS Cash and investments $17,357 $3,238,882 $3,256,239 Investment with trustee - 828,946 828,946 Due from other Constitutional _ Officers 218 - 218 Documentary stamps - 82.610 82.610 Total assets $17.575 $4.150.438 $4.168.013 LIABILITIES AND FUND EQUITY LIABILITIES Vouchers payable $ 20 $ 697 $ 717 Due to other Constitutional Officers 32 272,311 272,343 Due to other governments - 766,965 766,965 Deferred compensation payable - 828,946 828,946 Deposits - 2.281.519 2.281.519 Total liabilities 52 4.150.438 4.150.490 _ FUND EQUITY Fund balance, unreserved 17.523 - 17.523 Total liabilities and fund equity $17.575, $4.150.438 $4.168.013 -13- COLLIER COUNTY, FLORIDA CLERK OF THE CIRCUIT COURT COMBINED STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS For the Fiscal Year Ended September 30, 1994 Balance Balance October 1, September 30, 1993 Additions Deletions 1994 TOTAL - ALL AGENCY FUNDS ASSETS Cash and investments $3,275,981 $52,730,171 $52,767,270 $3,238,882 Investment with trustee 744,027 165,393 80,474 828,946 Documentary stamps 63.401 82.610 63.401 82.610 Total assets $4.083,409 $52,978,174 $52,911,145 $4,150,438 LIABILITIES Vouchers payable $ - $40,437,824 $40,437,127 $ 697 Due to other Constitutional Officers 367,877 3,414,735 3,510,301 272,311 Due to other governments 515,980 30,480,606 30,229,621 766,965 Deferred compensation payable 744,027 165,393 80,474 828,946 Deposits 2.455.525 15.264.402 15,438,408 2,281,519 Total liabilities $4,083,409, $89,762,960 $89,695,931 $4,150,438 -14- Honorable Dwight Brock Clerk of the Circuit Court Collier County, Florida We have audited the financial statements of the Collier County, Florida, Clerk of the Circuit Court as of and for the year ended September 30, 1994 and have issued our report thereon dated November 15, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards, issued by the Comptroller General of the United States and Section 11.45(3)(a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In planning and performing our audit of the financial statements of the Collier County, Florida, Clerk of the Circuit Court, for the year ended September 30, 1994, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. The management of the Collier County, Florida, Clerk of the Circuit Court, is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: Revenues/Receipts • Expenditures/Disbursements ▪ Financial Reporting ▪ Budgetary -15- For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures and whether they have been placed in operation, and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose all _ matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level of risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. This report is intended solely for the use of the Collier County, Florida, Clerk of the Circuit Court and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. defet/eXa Xy540.46X o • d• iq COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 15, 1994 -16- Honorable Dwight Brock Clerk of the Circuit Court Collier County, Florida We have audited the financial statements of the Collier County, Florida, Clerk of the Circuit Court as of and for the year ended September 30, 1994 and have issued our report thereon dated November 15, 1994. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States and Section 11.45(3)(a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Compliance with laws, regulations, and contracts applicable to the Collier County, Florida, Clerk of the Circuit Court, is the responsibility of the Collier County, Florida, Clerk of the Circuit Court's management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of the Clerk's compliance with certain provisions of laws, regulations, and contracts. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, the Collier County, Florida, Clerk of the Circuit Court complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Clerk had not complied, in all material respects, with those provisions. This report is intended for the information of the Collier County, Florida, Clerk of the Circuit Court and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. doice,ta 0,gdekatoe af(X le COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 15, 1994 -17- Honorable Dwight Brock Clerk of the Circuit Court Collier County, Florida We have audited the financial statements of the Collier County, Florida, Clerk of the Circuit Court for the year ended September 30, 1994, and have issued our report thereon dated November 15, 1994. In connection with our audit, we are submitting the following comments and recommendations in accordance with Chapter 10.550 "Rules of the Auditor General - Local Governmental Entity Audits" (Revised September 30, 1994) and Section 11.45(3)(a)4. , of the Florida Statutes. I. PRIOR YEAR COMMENTS THAT HAVE BEEN RESOLVED 1. A Formal Investment Policy Should be Established 2. Billings to the Board of County Commissioners for Clerk Employees Should be Reconciled to the Court Docket 3. The Clerk Should Separately Record and Identify Amounts Owed to the Board of County Commissioners II. CURRENT YEAR COMMENTS AND RECOMMENDATIONS None _ We have included in this letter all comments which came to our attention during the course of our audit regarding Items 1 through 7 of the "Rules of the Auditor General - Local Governmental Entity Audits," Rule 10.554 Section (1)(f) . In regard to Item 3, nothing came to our attention to cause us to believe that any time during the year the Clerk met any of the criteria for being in a state of financial emergency as defined in Florida Statute 218.503(1) . Additionally, in regard to Item 7(c) , we represent that the financial report filed with the Department of Banking and Finance, pursuant to Florida Statute 218.32, is in agreement with the annual financial audit report for the same period. This report is intended solely for the use of management and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. &dliekjzia $7,--4616 c/GY.P. COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 15, 1994 -18- II COLLIER COUNTY, FLORIDA PROPERTY APPRAISER FINANCIAL STATEMENTS, TOGETHER WITH REPORTS OF INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 COLLIER COUNTY, FLORIDA PROPERTY APPRAISER SEPTEMBER 30, 1994 TABLE OF CONTENTS Paze REPORT OF INDEPENDENT ACCOUNTANTS 1 FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Group 2 -- Statement of Revenues, Expenditures and Changes in Fund Balance - General Fund 3 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 4 Notes to Financial Statements 5 - 12 SUPPLEMENTARY INFORMATION Statement of Changes in Assets and Liabilities - Agency Fund 13 INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 14 - 15 INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 16 MANAGEMENT LETTER 17 - 18 REPORT OF INDEPENDENT ACCOUNTANTS '— Honorable Abe Skinner Property Appraiser Collier County, Florida We have audited the financial statements of the Collier County, Florida, Property Appraiser as of and for the year ended September 30, 1994, as listed in the Table of Contents. These financial statements are the responsibility of the Property Appraiser's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Collier County, Florida, Property Appraiser as of September 30, 1994, and the results of its operations for the year then ended in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supplementary information included on page 13 is presented for purposes of additional analysis and is not a required part of the financial statements of the Collier County, Florida, Property Appraiser. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. 144M-a 9` 0V- e COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 2, 1994 -1- _ COLLIER COUNTY, FLORIDA PROPERTY APPRAISER COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUP September 30, 1994 Governmental Fiduciary Account Fund Type Fund Type Group General Total Long-Term (Memorandum General Agency Debt Only) ASSETS AND OTHER DEBIT Cash $80,365 $ - $ - $ 80,365 Investment with Trustee - 460,105 - 460,105 Amount to be provided for retirement of general long-term debt - - 523.934 523.934 Total assets and other debit $80.365 $460.105 $523.934 $1.064.404 LIABILITIES AND FUND EQUITY LIABILITIES Accounts payable and accrued liabilities $21,465 $ - $ - $ 21,465 Due to the Board of County Commissioners 53,062 - - 53,062 Due to other governments 5,838 - - 5,838 Deferred compensation payable - 460,105 - 460,105 Obligations under capital leases - - 352,111 352,111 Accrued compensated absences - - 171.823 171.823 Total liabilities 80,365 460,105 523,934 1,064,404 FUND EQUITY Fund balances - - - - _ Total liabilities and fund equity $80.365 $460.105, $523.934, $1.064.404 See Accompanying Notes. -2- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - GENERAL FUND For the Fiscal Year Ended September 30, 1994 Revenues Charges for services $2,902,706 Miscellaneous 212.018 Total revenues 3.114.724 Expenditures Current General government Personal services 1,997,561 Operating expenditures 402,919 Capital outlay 415,520 Debt service Principal retirement 215,497 Interest 30.165 Total expenditures 3.061.662 Excess of revenues over expenditures 53,062 Other financing uses Operating transfers out (53.062) Excess of revenues over expenditures and other financing uses - Fund balance - October 1, 1993 - Fund balance - September 30, 1994 $ -0- See Accompanying Notes. -3- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND For the Fiscal Year Ended September 30, 1994 _ Variance- Favorable Budget Actual (Unfavorable) Revenues Charges for services $2,908,475 $2,902,706 $ (5,769) Miscellaneous 165.256 212.018 46.762 Total revenues 3.073.731 3.114.724 40.993 _ Expenditures Current General government Personal services 2,008,705 1,997,561 11,144 Operating expenditures 403,723 402,919 804 Capital outlay 613,853 415,520 198,333 Debt service Principal retirement 47,450 215,497 (168,047) Interest - 30.165 (30.165) Total expenditures 3.073,731 3.061.662 12.069 Excess of revenues over expenditures - 53.062 53.062 Other financing uses Operating transfers out - (53,062) (53.062) Excess revenues over expenditures and other financing uses -0- Fund balance - October 1, 1993 - Fund balance - September 30, 1994 S -0- See Accompanying Notes. -4- _ COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 7 Note 1. Summary of Significant Accounting Policies The following is a summary of the more significant accounting principles and policies: (a) Defining the governmental reporting entity The Property Appraiser, as an elected constitutional officer and county agency, is considered a. part of the Collier County Board of County Commissioners (primary government) . As such, the Property Appraiser's financial statements are included in the general purpose financial statements of Collier County. Effective for the year ended September 30, 1994, the Property Appraiser adopted Governmental Accounting Standards Board (GASB) Statement Number 14, "Financial Reporting Entity," which requires the financial statements of the reporting entity to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government or financial reporting entity are financially accountable. Based on the criteria established by GASB 14, there are no component units included in the Property Appraiser's financial statements. (b) Fund accounting The accounts of the Property Appraiser are organized on the basis of funds and an account group, each of which is considered a separate accounting entity. The operations of each fund and account group are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expendi- tures, as appropriate. Government resources are allocated to, and accounted for, in individual funds, based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The following fund types and account group are used by the Property Appraiser: Governmental Fund Type General Fund - The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Property Appraiser. All operating revenues, which are not specifically restricted or designated as to use, are recorded in the General Fund. Excess revenues at the end of the year, due back to the Board of County Commissioners, are shown as operating transfers out. -5- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (b) Fund accounting, continued Fiduciary Fund Type Agency Fund - The Agency Fund is used to account for assets held by public officials in a trustee capacity or as an agent for individuals, private organizations, other governments and/or other funds. Account Group General Long-Term Debt - This self-balancing account group is used to account for the principal amounts of general long-term — indebtedness, as well as the long-term portion of compensated absences. (c) Measurement focus Governmental Fund Type - The General Fund is accounted for on a "spending" or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on the balance sheet. Accordingly, the reported undesignated fund balance (net current assets) is considered a measure of available, spendable or appropriable resources. Governmental Fund Type operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Fiduciary Fund Type - The Agency Fund is custodial in nature (assets equal liabilities) and does not involve the measurement of results of operations. Account Group - The General Long-Term Debt Account Group is con- - cerned only with the measurement of financial position. It is not involved with the measurement of results of operations. Long-term debts, which are not intended to be financed through Fiduciary Funds, are accounted for in the General Long-Term Debt Account Group. (d) Basis of accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. -6- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (d) Basis of accounting, continued The modified accrual basis of accounting is followed by the General and Agency Funds. The modification in such method from the accrual basis is that revenues are recorded when they become measurable and available as net current assets. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on general long-term debt, which is recognized when due; and (2) expenditures are not divided between years by the recording of prepaid expenses. (e) Budgetary process Chapter 195, Florida Statutes, governs the preparation, adoption and amendment process of the Property Appraiser's annual budget. The Property Appraiser's budget and amendments are prepared independently of the Board of County Commissioners and are approved by the Florida State Department of Revenue. A copy of the approved budget is provided to the Board of County Commissioners. The budget for the General Fund is prepared on the modified accrual basis. The level of control for appropriations is exercised at the fund level. (f) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is not employed by the Property Appraiser because it is at present not necessary to assure effective budgetary control or to facilitate effective cash planning and control. (g) Fixed assets Acquisitions of tangible personal property are recorded as expendi- tures in the General Fund at the time of purchase. These assets are reported to the Collier County, Florida, Board of County Commissioners and are recorded in the Board's General Fixed Asset Group of Accounts. -7- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (h) Compensated absences During the current year, the Property Appraiser adopted GASB Statement Number 16, "Accounting for Compensated Absences," in the accounting and financial reporting for compensated absences. It is the Property Appraiser's policy to allow employees to accumulate an unlimited number of hours of unused sick leave and up to 240 hours of unused vacation leave. Upon termination an employee is vested in a portion of the unused sick leave based upon length of service. All employees are vested in 100% of allowable accumulated vacation hours. For the fiscal year ended September 30, 1994, the liability relating to the vested unused sick leave and the full amount of the allowable accumulated vacation leave is recorded in the accompanying financial statements. Because the amount of accrued compensated absences would not normally be liquidated with expendable available resources, it is recorded in the General Long-Term Debt Account Group. In accordance with GASB Statement Number 16, adjustments were made to the compensated absences balance to include employer payroll taxes and retirement contributions. The effect of the adjustment was to increase general long-term debt by $22,568. (i) Total column on combined balance sheet The total column on the combined balance sheet is captioned "Memoran- dum Only" to indicate that it is presented only to facilitate finan- cial analysis. Data in this column does not present financial posi- tion or results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a consoli- dation. Interfund eliminations have not been made in the aggregation of this data. Note 2. Cash and Investments Deposits At September 30, 1994, the amount of the Property Appraiser's deposits was $80,340 which consisted of money market accounts. These deposits were entirely covered by federal depository insurance or by collateral pursuant to the Florida Security for Public Deposits Act (Florida Statutes Chapter 280) . -8- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 2. Cash and Investments, Continued Deposits, continued At September 30, 1994 the investment with trustee totaled $460,105, which equals its market value. These investments are deferred compensation plan assets which are invested in mutual fund pools (commercial paper and bankers' acceptances) and are not specifically identified or segregated in the Property Appraiser's name and, therefore, are not categorized to give the level of risk assumed at year-end. This amount is not required to be categorized pursuant to GASB Statement Number 3, "Deposits with Financial Institutions, Investments (including Repurchase Agreements) and Reverse Repurchase Agreements," because it is not represented by underling securities in either physical or book entry form. Note 3. Retirement Plan Plan Description and Provisions All full-time Property Appraiser employees are participants in the state- wide Florida Retirement System (System) under the authority of Article X, Section 14 of the State constitution and Florida Statutes, Chapters 112 and 121. The payroll for the Property Appraiser employees covered by the System for the year ended September 30, 1994 was $1,378,783. The Property Appraiser's total payroll was $1,426,976 for the same period. The Property Appraiser's contributions to the plan were $254,542, which represented approximately 18 percent of the covered payroll. There were no employee contributions to the plan. Total annual covered payroll of the entire System for its fiscal year ended June 30, 1993 (the latest fiscal year for which data is available) was approximately $14.6 billion. Total annual employer contributions to the System for the 1993 fiscal year were $2.6 billion. The Property Appraiser's contributions were approximately .01 percent of the requirement for all employers. — Employees who retire at or after age 62 with 10 years of creditable service (eight years for elected officials) , 10 years of special risk service and age 55, or 30 years of service regardless of age, are entitled to a retirement benefit, payable for life, equal to 1.6 percent to 3.33 percent per year of creditable service, depending on the class of employee (regular, special risk, etc.) . Benefits vest after ten years (eight years for elected state officials) of credited service. Early retirement may be taken anytime after vesting. However, there is a 5 percent benefit reduction for each year prior to normal retirement age or date. Disability and survivor benefits are also offered. Benefits are estab- lished by state statute. The plan provides for a constant 3 percent cost-of-living adjustment for retirees, as required by state laws. -9- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 3. Retirement Plan, Continued Description of Funding Policy This is a cost-sharing, multi-employer plan available to governmental units within the state and actuarial information with respect to an individual participating entity is not available. Participating employers are required, by statute, to pay monthly contributions at actuarially determined rates that, expressed as percentages of annual covered payroll, are adequate to accumulate sufficient assets to pay benefits when due. The amount shown below as "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, assess progress in accumulating sufficient assets to pay benefits when due, and make comparisons among Public Employee Retirement Systems. The measure is independent of, and should not be confused with, the actuarial funding method used to determine contributions to the System. In accordance with GASB Statement Number 5, "Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers," an actuarial valuation to determine the pension benefit obligation as of June 30, 1993 was performed by the System's consulting actuaries. Significant actuarial assumptions used include (a) _ a rate of return on the investment of present and future assets of 8 percent per year compounded annually; (b) projected salary increases of 5.5 percent per year compounded annually; attributable to inflation; (c) additional projected salary increases of 2 percent per year attributable to seniority/merit; and (d) post-retirement benefit increases of 3 percent per year. There were no significant changes made to benefit provisions since the last valuation. At June 30, 1993 (the latest year for which data is available) the pension benefit obligation was approximately $39.7 billion. The System's net assets available for benefits on that date (valued at cost) were ,.. approximately $29.1 billion (market value) , resulting in an unfunded pension benefit obligation of approximately $10.6 billion. Trend Information Ten-year historical trend information, presenting the System's progress in accumulating sufficient assets to pay benefits when due, is presented in the System's June 30, 1993 annual financial report. -10- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 4. Deferred Compensation Plan Under an agreement with Public Employees Benefit Service Corporation (PEBSCO) and ICMA Retirement Corporation, the Property Appraiser offers employees a deferred compensation plan created in accordance with Internal Revenue Code, Section 457. The plan is available to all Property Apprais- er employees and permits them to defer a portion of their salaries until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan, all property and ... rights purchased with those amounts, and all income attributable to those amounts, property or rights, are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Property Appraiser (without being restricted to the provisions or benefits under the plan) , subject only to the claims of the Property Appraiser's general creditors. Participants' rights under the plan are equal to those of general creditors of the Property Appraiser in an amount equal to the fair market value of the deferred account for each participant. The Property Appraiser believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. Note 5. Self-Insurance Program The Property Appraiser participates in the County-wide self-insurance program. The Collier County, Florida, Board of County Commissioners maintains an internal service fund to administer self-insurance activities relating to workers' compensation, and health and life insurance. The County absorbs losses up to a specified amount annually. Excess and other specific coverages are purchased from third-party carriers. Charges to operating departments are based upon amounts believed by the Board's management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the program. For fiscal year ended September 30, 1994, the Property Appraiser was charged approximately $196,000 for these programs. Note 6. General Long-Term Debt The following changes in general long-term debt occurred during the year ended September 30, 1994: Long-term debt payable at October 1, 1993 $ 704,541 Principal retirement (215,497) Increase in accrued compensated absences 34.890 Long-term debt payable at September 30, 1994 $ 523.934, -11- COLLIER COUNTY, FLORIDA PROPERTY APPRAISER NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 / Note 6. General Long-Term Debt, Continued General long-term debt is comprised of the following: 6.5% capital lease obligations payable to a corporation, collateralized by data process- ing and other equipment, with quarterly installments of $47,430, including interest through maturity in 1997 $352,111 Noncurrent portion of compensated absences. Employees of the Property Appraiser are entitled to vacation and sick leave, based on length of service and other criteria 171.823 $523.934 The minimum future lease payments under these capital leases as of Septem- -- ber 30, 1994 are as follows: Year Ended September 30 1995 $189,800 1996 189,364 1997 436 Total minimum lease payments 379,600 Less amount representing interest 27.489 Present value of net minimum lease payments $352.111, -12- I SUPPLEMENTARY INFORMATION COLLIER COUNTY, FLORIDA PROPERTY APPRAISER STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - AGENCY FUND For the Fiscal Year Ended September 30, 1994 Balance Balance EMPLOYEE DEFERRED October 1, September 30, COMPENSATION PLAN FUND 1993 Additions Deletions 1994 ASSETS Investment with Trustee $371,015 $96,016 $6,926 $460,105 LIABILITIES Deferred compensation payable $371,015 $96,016 $6,926 $460,105, -13- Honorable Abe Skinner Property Appraiser Collier County, Florida We have audited the financial statements of the Collier County, Florida, Property Appraiser as of and for the year ended September 30, 1994 and have issued our report thereon dated November 2, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3)(a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In planning and performing our audit of the financial statements of the Collier County, Florida, Property Appraiser for the year ended September 30, 1994, we considered its internal control structure in order to determine our auditing proce- dures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. The management of the Collier County, Florida, Property Appraiser, is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: Revenue/Receipts • Expenditures/Disbursements ▪ Financial Reporting • Budgetary -14- For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures end whether they have been placed in operation, and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose _ all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we considered to be material weaknesses as defined above. However, we noted certain matters involving the internal control structure and its operations that we have reported to the management of the Property Appraiser in a separate report to management dated November 2, 1994. This report is intended for the information of the Collier County, Florida, Property Appraiser and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. /Witt a- 09/624(x. a COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 2, 1994 -15- Honorable Abe Skinner Property Appraiser Collier County, Florida We have audited the financial statements of the Collier County, Florida, Property Appraiser as of and for the year ended September 30, 1994 and have issued our report thereon dated November 2, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3)(a)4. , of the Florida Statutes. Those standards require that we — plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Compliance with laws and regulations applicable to the Collier County, Florida, Property Appraiser, is the responsibility of Collier County, Florida, Property Appraiser's management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of the Property Appraiser's compliance with certain provisions of laws and regulations. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, the Collier County, Florida, Property Appraiser, complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Property Appraiser had not complied, in all material respects, with those provisions. This report is intended for the information of the Collier County, Florida, Property Appraiser and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. 404 c/cY COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 2, 1994 -16- Honorable Abe Skinner Property Appraiser Collier County, Florida In connection with our audit of the financial statements of the Collier County, Florida, Property Appraiser for the year ended September 30, 1994, we are submitting the following report in accordance with Chapter 10.550 "Rules of the Auditor General - Local Governmental Entity Audits" (Revised September 30, 1994) and Section 11.45(3)(a)4. , of the Florida Statutes. I. PRIOR YEAR COMMENTS None II. CURRENT YEAR COMMENTS 1. The Property Appraiser Should Document Accounting Policies and Procedures During the course of our audit, we noted that the Property Appraiser does not have a formal set of accounting policies and.procedures. We recommend the Property Appraiser document the accounting policies and procedures formally. The major benefits of documentation would be: a. To provide management with the opportunity to analyze the internal controls of the office; b. To supplement on-the-job training procedures; and c. To eliminate the confusion and inefficiencies accompanying changes in personnel. 2. Calculation of Sick Leave Accrual Should be Automated Currently, the Property Appraiser's office manually calculates the sick and vacation leave liability due to employees at year-end. Performance of the accruals manually is an inefficient use of staff time and also increases the likelihood of errors in the account balance. We recommend the Property Appraiser develop and implement a program that would automatically calculate the sick and vacation leave accrual. The program must take into consideration current policies for sick and vacation leave compensation. -17- We have included in this letter all comments which came to our attention during the course of our audit regarding Items 1 through 7 of the "Rules of, the Auditor General- - Local Governmental Entity Audits," Rule 10.554, Section (1)(f) :' In regard to Item 3, nothing came to our attention to cause us to believe that any time during the year the Property Appraiser met any of the criteria for being in a state of financial emergency as defined in Florida Statute 218.503(1) . Additionally, in regard to Item 7(c) , we represent that the financial report filed with the Board of County Commissioners, pursuant to Section 218.32 of the Florida Statutes, is in agreement with the annual post audit report for the period under examination. This report is intended solely for the use of the Collier County, Florida, Property Appraiser and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. gadk/VA-st, OY COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 2, 1994 -18- i COLLIER COUNTY, FLORIDA SHERIFF FINANCIAL STATEMENTS, -- TOGETHER WITH REPORTS OF INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 COLLIER COUNTY, FLORIDA SHERIFF / TABLE OF CONTENTS Paze REPORT OF INDEPENDENT ACCOUNTANTS 1 FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups 2 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - General Fund and Expendable Trust Fund 3 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (Non-GAAP Budgetary Basis) - General Fund 4 Statement of Revenues, Expenses and Changes in Retained Earnings - Proprietary Fund Type 5 Statement of Cash Flows - Proprietary Fund Type 6 Notes to Financial Statements 7 - 16 SUPPLEMENTARY INFORMATION Combining Balance Sheet - Fiduciary Fund Types 17 Combined Statement of Changes in Assets and Liabilities - All Agency Funds 18 INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 19 - 20 INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 21 MANAGEMENT LETTER 22 -' REPORT OF INDEPENDENT ACCOUNTANTS Honorable Don Hunter Sheriff Collier County, Florida We have audited the financial statements of the Collier County, Florida, Sheriff as of and for the year ended September 30, 1994, as listed in the Table of Contents. These financial statements are the responsibility of the Sheriff. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Collier County, Florida, Sheriff at September 30, 1994, and the results of its operations and cash flows for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supplementary information included on pages 17 and 18 is presented for purposes of additional analysis and is not a required part of the financial statements of the Collier County, Florida, Sheriff. Such information has '- been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 18, 1994 - 1 - COLLIER COUNTY, FLORIDA SHERIFF COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUPS September 30, 1994 — Governmental Proprietary Fiduciary Fund Type Fund Type Fund Type Internal Trust and General Service Agency ASSETS AND OTHER DEBITS _ Cash and investments $4,512,100 $1,240,005 $144,394 Investment with Trustee - - 754,049 Inventory - - 5,255 Due from other funds 12,683 - 18,897 Due from other governments 19,995 2,210 Due from other Constitutional Officers 144,528 - - Accounts receivable 12,256 - 6,010 Machinery and equipment - - - Amount to be provided for retirement of general long-term debt - - - Total assets and other debits $4.701.562 $1.240,005 $930,815 LIABILITIES, EQUITY AND OTHER CREDITS LIABILITIES Accounts payable and accrued expenses $3,374,862 $ - $ 1,077 Self-insurance claims payable - 301,000 Due to other funds 204 - 31,376 Due to other Constitutional Officers 1,326,496 - 16,683 Bonds and deposits - - 37,584 Deferred compensation payable - - 754,049 Obligations under capital leases - - - Accrued compensated absences - - - Total liabilities 4.701,562 301.000 840.769 EQUITY AND OTHER CREDITS Investment in general fixed assets - - - Fund balances Unreserved - - 90,046 Retained earnings Unreserved - 939.005 Total equity and other credits - 939.005 90.046 Total liabilities, equity and other credits $4.701.562 $1.240,005 $930,815, See Accompanying Notes. Account Groups General General Total Fixed Long-Term (Memorandum Assets Debt Only) $ 5,896,499 754,049 5,255 31,580 22,205 144,528 18,266 14,805,691 - 14,805,691 2,668,011 2.668.011 $14,805,691 $2,668,011 $24,346,084 $ 3,375,939 301,000 31,580 1,343,179 37,584 754,049 2,697 2,697 2.665.314 2,665,314 2,668,011 8,511,342 14,805,691 - 14,805,691 90,046 939.005 14,805,691 - 15.834.742 $14,805,691 $2,668,011 $24,346,084, - 2 - _ COLLIER COUNTY, FLORIDA SHERIFF COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - _ GENERAL FUND AND EXPENDABLE TRUST FUND For the Fiscal Year Ended September 30, 1994 Governmental Fiduciary Fund Type Fund Type Total Expendable (Memorandum General Fund Trust Fund Only) Revenues Miscellaneous $ - $302.800 $ 302.800 Expenditures Current General government Personal services 684,603 - 684,603 Operating expenditures 11.918 - 11.918 696.521 - 696.521 Public safety Personal services 31,485,172 - 31,485,172 Operating expenditures 5.351.021 257.750 5.608.771 36.836.193 257.750 37.093.943 Capital outlay 1.159.329 - 1.159.329 _ Debt service Principal retirement 15,698 - 15,698 Interest and fiscal charges 806 - 806 16.504 - 16.504 Total expenditures 38.708.547 257.750 38.966.297 Excess revenues over (under) expenditures (38.708.547) 45.050 (38.663.497) Other financing sources (uses) Operating transfers in 40,413,600 - 40,413,600 Operating transfers out (1,705.053) - (1.705.053) Total other financing sources 38.708.547 - 38.708.547 Excess revenues and other financing sources over expenditures and other financing uses - 45,050 45,050 Fund balances - October 1, 1993 - 44.996 44.996 Fund balances - September 30, 1994 $ -0- , $ 90,046 $ 90,046, See Accompanying Notes. - 3 - COLLIER COUNTY, FLORIDA SHERIFF STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) - GENERAL FUND For the Fiscal Year Ended September 30, 1994 Variance- Favorable Budget Actual (Unfavorable) Revenues Miscellaneous Expenditures Current General government Personal services 724,100 684,603 39,497 Operating expenditures 21.800 11.918 9.882 745.900 696.521 49.379 Public safety Personal services 32,756,500 31,485,172 1,271,328 Operating expenditures 5,902.200 5.367.525 534.675 38.658.700 36.852.697 1.806.003 Capital outlay 1.009.000 1.159,329 (150.329) Total expenditures 40.413.600 38,708,547 1.705.053 Excess of expenditures over revenues (40.413.600) (38.708.547) 1.705.053 Other financing sources (uses) Operating transfers in 40,413,600 40,413,600 - Operating transfers out - (1.705.053) (1.705.053) Total other financing sources 40.413.600 38.708.547 (1.705.053) Excess of expenditures and other financing uses over revenues and other financing sources $ -0- - 1_____;2L__ Fund -0- Fund balance - October 1, 1993 - Fund balance - September 30, 1994 — See Accompanying Notes. - 4 - COLLIER COUNTY, FLORIDA SHERIFF STATEMENT OF REVENUES, EXPENSES AND CHANGES IN RETAINED EARNINGS - PROPRIETARY FUND TYPE For the Fiscal Year Ended September 30, 1994 Proprietary Fund Type Internal Service Operating revenues Charges for services $2.838.009 Operating expenses Claims and claims expenses incurred 1,759,106 Reinsurance premiums 116,626 Administrative and other expenses 53.785 Total operating expenses 1.929.517 Operating income 908,492 Non-operating revenues Interest income 30.513 Net income 939,005 Retained earnings at beginning of year - Retained earnings at end of year $ 939.005 See Accompanying Notes. - 5 - COLLIER COUNTY, FLORIDA SHERIFF STATEMENT OF CASH FLOWS - PROPRIETARY FUND TYPE For the Fiscal Year Ended September 30, 1994 Proprietary Fund Type Internal Service CASH FLOWS FROM OPERATING ACTIVITIES: Cash payments for claims and claims related services $(1,458,106) Cash payments for reinsurance premiums (116,626) Cash payments for administrative services and supplies (53,785) Cash received from other funds for services 2,800,000 Cash received from retirees for services 38.009 Net cash provided by operating activities 1.209.492 CASH FLOWS FROM INVESTING ACTIVITIES: Interest on investments 30.513 Net increase in cash 1,240,005 Cash, October 1, 1993 - Cash, September 30, 1994 $ 1,240.005 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: Operating income $ 908,492 Adjustments to reconcile operating income to net cash provided by operating activities: Increase in self-insurance claims payable 301.000 Net cash provided by operating activities $ 1.209.492, See Accompanying Notes. - 6 - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies The following is a summary of the more significant accounting principles and policies: (a) Defining the governmental reporting entity The Collier County, Florida Sheriff (the Sheriff) , as an elected constitutional officer and county agency, is considered a part of the Collier County Board of County Commissioners (primary government) . As such, the Sheriff's financial statements are included in the general purpose financial statements of Collier County. Effective for the year ended September 30, 1994, the Sheriff adopted Governmental Accounting Standards Board (GASB) Statement Number 14, "Financial Reporting Entity," which requires the financial statements of the reporting entity to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government or financial reporting entity are financially accountable. Based on the criteria established by GASB 14, there are no component units included in the Sheriff's financial statements. (b) Fund accounting The accounts of the Sheriff are organized on the basis of funds and account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures/expenses, as appropriate. Government resources are allocated to, and accounted for, in individual funds, based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The following fund types and account groups are used by the Sheriff: Governmental Fund Type General Fund - The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Sheriff, which are not properly accounted for in another fund. All operating revenues, which are not specifically restricted or designated as to use, are recorded in the General Fund. General property taxes levied and general revenues received by the Collier County Board of County Commissioners (the Board) for the Sheriff are reported as operating transfers in. Excess revenues at the end of the year, due back to the Board, are shown as operating transfers out. - 7 - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (b) Fund accounting, continued Proprietary Fund Type Internal Service Fund - The Internal Service Fund is used to account for the financing of a self-funded employee health plan. Fiduciary Fund Types Trust and Agency Funds - Trust and Agency Funds are used to account for assets held by public officials in a trustee capacity or as an agent for individuals, private organizations, other governments and/or other funds. These funds include Expendable Trust Funds and Agency Funds. Account Groups General Fixed Assets - This self-balancing account group is used to account for tangible fixed assets, which have an estimated useful life in excess of one year. All fixed assets are valued at historical cost or estimated histori- cal cost if actual historical costs are not available. Donated fixed assets are valued at their estimated fair value on the date donated. No depreciation has been provided on general fixed assets. General Long-Term Debt - This self-balancing account group is used to account for the principal amounts of general long-term indebted- ness, as well as the long-term portion of compensated absences. (c) Measurement focus Governmental Fund Type - The General Fund is accounted for on a — "spending" or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on the balance sheet. Accordingly, any reported undesignated fund balance (net current assets) is considered a measure of available, spendable or appropriable resources. Governmental Fund Type operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Proprietary Fund Type - The Proprietary Fund is accounted for on a cost of service measurement focus. All assets and all liabilities (current or noncurrent) are included on the balance sheet. Fund equity is segregated into contributed capital and retained earnings, as appropriate. - 8 - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (c) Measurement focus, continued Fiduciary Fund Types - Expendable Trust Funds are accounted for in essentially the same manner as the Governmental Funds. Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Account Groups - The General Fixed Assets Account Group and the General Long-Term Debt Account Group are concerned only with the measurement of financial position. They are not involved with the measurement of results of operations. Long-term debts, which are not intended to be financed through Fiduciary Funds, are accounted for in the General Long-Term Debt Account Group. Fixed assets, which are not used in Fiduciary Fund operations, are accounted for in the General Fixed Asset Account Group. (d) Basis of accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. -" The modified accrual basis of accounting is followed in the Governmental Fund Type and Fiduciary Funds. Under this basis revenues are recorded when they become measurable and available as net current assets. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on general long-term debt, which is recognized when due; and (2) expenditures are not divided between years by the recording of prepaid expenses. Proprietary Funds use the accrual basis of accounting. Revenues are recognized in the period in which they are earned and expenses are recognized in the period incurred. (e) Budgetary process Chapter 30, Florida Statutes, governs the preparation, adoption and administration process of the Sheriff's annual budget. A budget is only required to be prepared for the General Fund. The Sheriff's budget and amendments are approved by the Board. The budget for the General Fund is prepared on the modified accrual basis, except that proceeds from long-term indebtedness and the related acquisition of assets, if any, are not budgeted and principal and interest payments are budgeted as operating expenditures. - 9 - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 , Note 1. Summary of Significant Accounting Policies, Continued (e) Budgetary process, continued The annual budget serves as the legal authorization for expenditures. Expenditures cannot legally exceed the total amount budgeted for each fund. All budget amendments, which change the legally adopted total appropriation for a fund, are approved by the Board. The level of control for appropriations is exercised at the fund level. (f) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is employed in the General Fund. All encumbrances lapse at year-end. Therefore, encumbrances are not compared to authorized appropriations and no portion of fund balance is reserved. (g) Inventories Inventories consisting primarily of consumable goods are stated at the lower of cost or net realizable value on the basis of the "first-in, first-out" method of accounting. Use of resources for inventories are reported as expenditures of the period (purchase method) . (h) Fixed assets Acquisitions of tangible personal property are recorded as expenditures in the General Fund at the time of purchase. These assets are recorded in the Sheriff's General Fixed Asset Group of Accounts. (i) Compensated absences The Sheriff's employees accumulate annual sick and vacation leave based on the number of years of continuous service. In addition, the Sheriff's employees accumulate compensatory hours. Upon termination of employment, employees receive payment for 100 percent of accumu- lated vacation leave and overtime earned, and up to 35% of 1,000 hours of accumulated sick leave, depending on length of service. Accrued _ compensated absences are recorded in the General Long-Term Debt Group of Accounts because it does not require the use of available spendable resources at the balance sheet date. - 10 - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (i) Compensated absences, continued During the current year, the Sheriff adopted GASB Statement Number 16, "Accounting for Compensated Absences," in the accounting and financial reporting for compensated absences. This statement requires the compensated absences liability generally to be measured using the pay or salary rates in effect at the balance sheet date. It also requires additional amounts to be accrued for certain salary-related payments associated with the payment of compensated absences. This accounting change increased the liability in the General Long-Term Debt Group of Accounts by approximately $780,000. (j) Total column on combined financial statements The total column on the combined financial statements is captioned "Memorandum Only" to indicate that it is presented only to facilitate financial analysis. Data in this column does not present financial position or results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a _ consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2. Cash and Investments Florida Statutes and the Sheriff's Investment Policy authorize investments in certificates of deposit, savings accounts, repurchase agreements, the Local Government Surplus Funds Trust Fund administered by the Florida State Board of Administration, obligations of the U.S. Government and government agencies unconditionally guaranteed by the U.S. Government. Certificates of deposit, savings accounts and bank balances whose values exceed the amount of federal depository insurance are collateralized pursuant to the Florida Security for Public Deposits Act. The Sheriff's deposits are covered by federal depository insurance or by collateral pursuant to the Public Depository Security Act of the State of Florida. Included in the balance of cash and investments is as investment with the State of Florida's Local Government Surplus Funds Trust Fund with a carrying and market value of $602,138. In addition the Investment with Trustee (investment in mutual funds for the deferred compensation plan) totaled $754,049, which equalled its market value. These amounts are not categorized pursuant to GASB Statement Number 3, "Deposits with Financial Institutions, Investments (including Repurchase Agreements) and Reverse Repurchase Agreements," because they are not represented by underlying securities in either physical or book entry form. - 11 - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 3. Difference Between Budgeted and Actual Results The budget of the General Fund is adopted on a basis consistent with generally accepted accounting principles, except that proceeds from long- term indebtedness and the related acquisition of assets are not budgeted and principal and interest payments are budgeted as operating expenditures. The following adjustments were necessary to present the General Fund's "- actual data on a budgetary basis (non-GAAP) : Excess expenditures and other financing uses over revenues and other financing sources (GAAP basis) $ - Operating expenditures Increase in operating expenditures for principal and interest payments on installment agreements 16.504 16.504 Debt service Reduction in debt service for payments on installment agreements shown as capital outlay (16.504) Net reduction in expenditures (16.504) Excess expenditures and other financing uses over revenues and other financing sources (non-GAAP budgetary basis) $ -0- Note 4. Retirement Plan Plan Description and Provisions All full-time Sheriff's employees are participants in the statewide Florida Retirement System (System) under the authority of Article X, Section 14 of the State Constitution and Florida Statutes, Chapters 112 and 121. The payroll for Sheriff's employees covered by the System for the year-end September 30, 1994 was $20,929,686; the Sheriff's total payroll was $21,703,211 for the same period. The Sheriff's contributions to the plan were $5,329,493 which represented approximately 26% of the Sheriff's covered payroll. There were no employee contributions to the plan. Total annual covered payroll of the entire System for its fiscal year ended June 30, 1993 (the latest fiscal year for which data is available) was approximately $14.6 billion. Total annual employer contributions to the System for the 1993 fiscal year were $2.6 billion. The Sheriff's contributions were .02% of the requirement for all employers. - 12 - '- COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 4. Retirement Plan, Continued Plan Description and Provisions, continued Employees who retire at or after age 62 with 10 years of creditable service (eight years for elected state officials) , 10 years of special risk service and age 55, or 30 years of service regardless of age, are entitled to a retirement benefit, payable for life, equal to 1.6% to 3.33% per year of creditable service, depending on the class of employee (regular, special risk, etc.) . Benefits vest after ten years (eight years for elected state officials) of credited service. Early retirement may be taken any time after vesting; however, there is a 5% benefit reduction for each year prior to normal retirement age or date. Disability and survivor benefits are also offered. Benefits are estab- lished by state statute. The plan provides for a constant 3% cost-of- - living adjustment for retirees as required by state law. Description of Funding Policy This is a cost-sharing, multi-employer plan available to governmental units within the state and actuarial information with respect to an individual participating entity is not available. Participating employers are required by statute to pay monthly contributions at actuarially determined rates that, expressed as percentages of annual covered payroll, are adequate to accumulate sufficient assets to pay benefits when due. The amount shown below as "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, assess progress in accumulating sufficient assets to pay benefits when due, and make compari- sons among Public Employee Retirement Systems. The measure is independent of and should not be confused with the actuarial funding method used to determine contributions to the System. In accordance with GASB Statement Number 5, "Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers," an actuarial valuation to determine the pension benefit obligation as of June 30, 1993 was performed by the System's consulting actuaries. Significant actuarial assumptions used include (a) a rate of return on the investment of present and future assets of 8% per year compounded annually; (b) projected salary increases of 5.5% per year compounded annually, attributable to inflation; (c) additional projected salary increases of 2% per year attributable to seniority/merit; and (d) a post-retirement benefit increase of 3% per year. There were no significant changes made to benefit provisions since the last valuation. - 13 - - COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 4. Retirement Plan, Continued Description of Funding Policy, continued At June 30, 1993 (the latest year for which data is available) , the pension benefit obligation was approximately $39.7 billion. The System's net assets available for benefits on that date were approximately $29.1 billion (market value) , resulting in an unfunded pension benefit — obligation of approximately $10.6 billion. Trend Information Ten-year historical trend information presenting the System's progress in accumulating sufficient assets to pay benefits when due is presented in the System's June 30, 1993 annual financial report. Note 5. Deferred Compensation Plan The Sheriff offers his employees deferred compensation plans created in accordance with Internal Revenue Code Section 457. The plans, available to all Sheriff employees, permit them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plans, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights, are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Sheriff (without being restricted to the provisions of benefits under the plan) , subject only to the claims of the Sheriff's general creditors. Participants' rights under the plans are equal to those of general creditors of the Sheriff in an amount equal to the fair value of the deferred account for each participant. Assets of the deferred compensation plans are recorded at fair value and are accounted for in an agency fund. In the opinion of management, the Sheriff has no liability for loses under the plans but must exercise due care as would be expected of an ordinary prudent investor. The Sheriff believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. - 14 - -- COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 , Note 6. Self-Insurance Program The Sheriff participates in the State-wide Florida Sheriff's Self-Insurance Fund for its professional liability insurance. The Fund is managed by representatives of the participating Sheriff offices and provides professional liability insurance to participating agencies. The Florida Sheriff's Self-Insurance Fund provides liability insurance coverage subject to the following limitations, $2,100,000 for any claim involving a single individual, $2,200,000 for any incident which involves multiple claims and an aggregate of $2,300,000 ultimate net loss per Sheriff during any policy period. Effective January 1, 1994, the Sheriff elected to participate in the Florida Sheriff's Self-Insurance Fund program for workers' compensation coverage. The Florida Sheriff's Association Workers' Compensation Insurance Trust (FSAWIT) is a limited self-insurance fund providing coverage for the first $300,000 of every claim. Re-insurance is provided through a third-party insurer for all claims exceeding $300,000 up to $2,000,000. Prior to this date the Sheriff was a participant in the county-wide self-insurance internal service fund maintained by the Board to administer these insurance activities. Premiums charged to participating Sheriffs are based upon amounts believed by Fund management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the program. For the fiscal year ended September 30, 1994, the Sheriff was charged approximately $4,426,000 for the self-insurance program. Coverage is provided on an occurrence basis. — Also effective January 1, 1994, the Sheriff established a self-funded employee health plan. An Internal Service Fund was established to account for the activities of the plan. Excess coverage has been purchased which provides specific claim excess coverage for any one incident exceeding $125,000 to $1,000,000 and aggregate limits excess coverage of $1,000,000 for total claims paid by the Sheriff, which exceeds $2,843,566 for any _ coverage year. Note 7. General Fixed Assets The following changes in general fixed assets occurred during the year ended September 30, 1994: Balance Balance October 1, September 30, 1993 Additions Deletions 1994 — Machinery and equipment $14,566,699, $1.362.084 $1.123,092 $14,805,691, The carrying value of machinery and equipment held under capital lease agreements as of September 30, 1994 was approximately $52,668. - 15 - • '— COLLIER COUNTY, FLORIDA SHERIFF NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 8. General Long-Term Debt The following changes in general long-term debt occurred during the year ended September 30, 1994: Long-term debt payable at October 1, 1993 $1,901,067 Increase in accrual for compensated absences 782,642 Principal retired (15.698) Long-term debt payable at September 30, 1994 $2,668,011 General long-term debt is comprised of the following: 8% capital lease obligation to corporation, collateralized by office equipment, with monthly installments of $500, including interest, maturing February 1995 $ 2,697 Noncurrent portion of compensated absences. Employees of the Sheriff are entitled to accumulated vacation, compensatory and sick leave 2,665.314 $2.668.011 Minimum future lease payments under capital leases as of September 30, 1994 are: Year Ending September 30 1995 $2,751 Less amount representing interest (54) Present value of minimum lease payments $2,697, Note 9. Interfund Receivables (Due From) and Payables (Due To) Due from and due to other funds at September 30, 1994 are as follows: Due From Due To _ Other Funds Other Funds General Fund $12,683 $ 204 Agency 204 24,193 Expendable Trust 18.693 7.183 631.580 $31.580, - 16 - SUPPLEMENTARY INFORMATION COLLIER COUNTY, FLORIDA SHERIFF COMBINING BALANCE SHEET - FIDUCIARY FUND TYPES September 30, 1994 Expendable Agency Trust Total ASSETS Cash $ 70,302 $74,092 $144,394 Investment with trustee 754,049 - 754,049 Inventory - 5,255 5,255 Due from other governments 2,210 - 2,210 Due from other funds 204 18,693 18,897 Accounts receivable 6.010 - 6.010 Total assets $832,775 $98,040 $930,815 LIABILITIES AND FUND EQUITY LIABILITIES Accounts payable and accrued expenses $ 264 $ 813 $ 1,077 Due to other funds 24,195 7,181 31,376 Due to Constitutional Officer 16,683 - 16,683 Bonds and deposits 37,584 - 37,584 Deferred compensation payable 754.049 - 754.049 Total liabilities 832.775 7.994 840.769 FUND EQUITY Fund balances - unreserved - 90.046 90.046 Total liabilities and fund equity $832.775 $98.040 $930,815 - 17 - COLLIER COUNTY, FLORIDA SHERIFF COMBINED STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS For the Fiscal Year Ended September 30, 1994 Balance Balance October 1, September 30, 1993 Additions Deletions 1994 TOTAL - ALL AGENCY FUNDS ASSETS Cash $ 76,376 $2,093,109 $2,099,183 $ 70,302 Investment with trustee 622,571 185,608 54,130 754,049 Due from other governments - 2,210 - 2,210 Due from other funds 781 - 577 204 Accounts receivable 2.290 6.010 2.290 6.010 $702,018 $2,286,937 $2.156.180 $832,775 LIABILITIES Accounts payable $ 78 $ 186 $ - $ 264 Due to Constitutional Officer 14,898 16,683 14,898 16,683 Due to other funds 20,274 20,695 16,774 24,195 Bonds and deposits 44,197 837,572 844,185 37,584 Deferred compensation payable 622.571 185.608 54.130 754.049 $702,018 $1.060.744 $ 929.987 $832,775 - 18 - Honorable Don Hunter Sheriff _ Collier County, Florida We have audited the financial statements of the Collier County, Florida, Sheriff as of and for the year ended September 30, 1994 and have issued our report thereon dated November 18, 1994. - We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3)(a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In planning and performing our audit of the financial statements of the Collier County, Florida, Sheriff for the year ended September 30, 1994, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. The management of the Collier County, Florida, Sheriff is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefit and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: • Revenues/Receipts • Expenditures/Disbursements Financial Reporting • Budgetary - 19 - For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures wand whether they have been placed in operation and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level of risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. This report is intended solely for the Collier County, Florida, Sheriff and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. 440i.tack- 46b0704: 440P' COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 18, 1994 - 20 - Honorable Don Hunter Sheriff Collier County, Florida We have audited the financial statements of the Collier County, Florida, Sheriff as of and for the year ended September 30, 1994 and have issued our report thereon dated November 18, 1994. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3)(a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Compliance with laws, regulations and contracts applicable to the Collier County, Florida, Sheriff is the responsibility of the Collier County, Florida, Sheriff's management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of the Collier County, Florida, Sheriff's compliance with certain provisions of laws, regulations, and contracts. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, the Collier County, Florida, Sheriff complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Collier County, Florida, Sheriff had not complied, in all material respects, with those provisions. This report is intended solely for the use of the Collier County, Florida, Sheriff and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. 401/6d. C7Yt.649.4(ag oY 1 ? COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 18, 1994 - 21 - Honorable Don Hunter Sheriff Collier County, Florida We have audited the financial statements of the Collier County, Florida, Sheriff for the year ended September 30, 1994, and have issued our report thereon dated November 18, 1994. In connection with our audit, we are submitting the following comments and recommendations in accordance with Chapter 10.550 "Rules of the Auditor General - Local Governmental Entity Audits" (Revised September 30, 1994) and Section 11.45(3) (a)4. , of the Florida Statutes. I. PRIOR YEAR COMMENTS None. II. CURRENT YEAR COMMENTS AND RECOMMENDATIONS None. We have included in this letter all comments which came to our attention during the course of our audit regarding Items 1 through 7 of the "Rules of the Auditor General - Local Governmental Entity Audits, " Rule 10.554, Section (1)(f) . In regard to Item 3, nothing came to our attention to cause us to believe that any time during the year the Sheriff met any of the criteria for being in a state of financial emergency as defined in Florida Statute 218.503(1) . Additionally, in regard to Item 7(c) , we represent that the financial report filed with the Department of Banking and Finance, pursuant to Florida Statute 218.32, is in agreement with the annual financial audit report for the same period. This report is intended solely for the use of the Collier County, Florida, Sheriff and _ the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. _ 40&ed Ye,d6t A' 1� COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 18, 1994 - 22 - COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS FINANCIAL STATEMENTS, TOGETHER WITH REPORTS OF INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS TABLE OF CONTENTS Page REPORT OF INDEPENDENT ACCOUNTANTS 1 FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Group 2 Statement of Revenues, Expenditures and Changes in Fund Balance - General Fund 3 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 4 Notes to Financial Statements 5 - 11 SUPPLEMENTARY INFORMATION Statement of Changes in Assets and Liabilities - Agency Fund 12 INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 13 - 14 INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 15 MANAGEMENT LETTER 16 REPORT OF INDEPENDENT ACCOUNTANTS Honorable Mary Morgan Supervisor of Elections Collier County, Florida We have audited the financial statements of the Collier County, Florida, Supervisor of Elections, as of and for the year ended September 30, 1994, as listed in the Table of Contents. These financial statements are the responsibility of the Supervisor of Elections' management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit -- provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Collier County, Florida, Supervisor of Elections at September 30, 1994 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supplementary information included on page 12 is presented for purposes of additional analysis and is not a required part of the financial statements of the Collier County, Florida, Supervisor of Elections. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. 40/-4-0 4Ke COOPERS & LYBRAND L.L.P. Fort Myers, Florida December 30, 1994 • -1- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT GROUP September 30, 1994 -- Governmental Fiduciary Account Fund Type Fund Type Group General Total Agency Long-Term (Memorandum General Fund Debt Only) ASSETS AND OTHER DEBIT ^ Cash $320,379 $ - $ - $320,379 Due from other governmental units 1,214 - - 1,214 Amount to be provided for retirement of general long-term debt - - 13.094 13.094 Total assets and other debit $321,593 $ -0- $13,094, $334,687, LIABILITIES AND FUND EQUITY LIABILITIES Vouchers payable $ 11,239 $ - $ - $ 11,239 Due to Board of County Commissioners 308,880 - - 308,880 Due to other constitutional officers 1,474 - - 1,474 Accrued compensated absences - - 13.094 13.094 Total liabilities 321,593 - 13,094 334,687 FUND EQUITY Fund balances - - - - Total liabilities and fund equity $321,593 $ _0_ $13,094, 1,12L151 See Accompanying Notes. -2- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - GENERAL FUND For the Fiscal Year Ended September 30, 1994 Revenues Charges for services $ 49.990 Total revenues 49.990 Expenditures Current General government Personal services 488,280 Operating expenditures 260,279 Capital outlay 129.303 mmft Total expenditures 877.862 Excess expenditures over revenues (827.872) Other financing sources (uses) Operating transfers in 1,119,808 Operating transfers out (291.936) Total other financing sources 827,872 -- Excess revenues and other financing sources over expenditures and other financing uses - Fund balance - October 1, 1993 - Fund balance - September 30, 1994 $ -0- See Accompanying Notes. -3- COLLIER COUNTY, FLORIDA -' SUPERVISOR OF ELECTIONS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND For the Fiscal Year Ended September 30, 1994 Variance- Favorable Budget Actual (Unfavorable) Revenues Charges for services $ - $ 49.990 $ 49,990 Total revenues - 49.990 49,990 Expenditures Current General government Personal services 531,100 488,280 42,820 Operating expenditures 426,185 260,279 165,906 ..., Capital outlay 162,415 129,303 33,112 Total expenditures 1,119,700 877.862 241,838 Excess of expenditures over revenues (1.119,700) (827.872) 291.828 Other financing sources (uses) Operating transfers in 1,119,700 1,119,808 (108) Operating transfers out - (291,936) 291.936 Total other financing sources 1,119.700 827.872 291.828 Excess revenues and other financing sources over expenditures and other financing uses Fund balance - October 1, 1993 - Fund balance - September 30, 1994 See Accompanying Notes. -4- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 Note 1. Summary of Significant Accounting Policies The following is a summary of the more significant accounting principles and policies: (a) Defining the governmental reporting entity The Supervisor of Elections, as an elected constitutional officer and county agency, is considered a part of the Collier County Board of County Commissioners (primary government) . As such, the Supervisor of Elections' financial statements are included in the general purpose financial statements of Collier County. Effective for the year ended September 30, 1994, the Supervisor of Elections adopted Governmental Accounting Standards Board (GASB) Statement Number 14, "Financial Reporting Entity," which requires the financial statements of the reporting entity to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government or financial reporting entity are financially accountable. Based on the criteria established by GASB 14, there are no component units included in the Supervisor of Election's financial statements. (b) Fund accounting The accounts of the Supervisor of Elections are organized on the basis of funds and an account group, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures, as appropriate. Government resources are allocated to, and accounted for, in individual funds, based upon the purposes for which they are to be spent and the means by which spending activities are controlled. -- The following fund types and account group are used by the Supervisor of Elections: Governmental Fund Type General Fund - The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Supervisor of Elections which are not properly accounted for in another fund. All operating revenues, which are not specifically restricted or designated as to use, are recorded in the General Fund. General property taxes levied by the Board of County Commissioners for the Supervisor of Elections are reported as operating transfers in. Excess revenues at the end of the year, due back to the Board, are shown as operating transfers out. -5- COLLIER COUNTY, FLORIDA -- SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (b) Fund accounting, continued Fiduciary Fund Type Agency Fund - The Agency Fund is used to account for assets held by public officials in a trustee capacity or as an agent for individuals, private organizations, other governments and for other funds. Account Group General Long-Term Debt - This self-balancing account group is used to account for the principal amounts of general long-term indebtedness, if any, as well as the long-term portion of compensated absences. (c) Measurement focus Governmental Fund Type - The General Fund is accounted for on a "spending" or "financial flow" measurement focus. This means that only current assets and current liabilities are generally included on the balance sheet. Accordingly, the reported undesignated fund balance (net current assets) is considered a measure of available, spendable or appropriable resources. Governmental Fund Type operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Fiduciary Fund Type - Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Account Group - The General Long-Term Debt Account Group is concerned only with the measurement of financial position. It is not involved with the measurement of results of operations. Long-term debts, which are not intended to be financed through Proprietary or Fiduciary Funds, are accounted for in the General Long-Term Debt Account Group. (d) Basis of accounting -- Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. — Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. -6- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (d) Basis of accounting, continued The modified accrual basis of accounting is followed by the General Fund and Agency Fund. The modification in such method from the accrual basis is that revenues are recorded when they become measurable and available as net current assets. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on general ^ long-term debt, which is recognized when due; and (2) expenditures are not divided between years by the recording of prepaid expenses. (e) Budgetary process Chapter 129, Florida Statutes, governs the preparation, adoption and amendment process of the Supervisor of Elections' annual budget. The Supervisor of Elections' budget and amendments are approved by the Board of County Commissioners. The budget for the General Fund is prepared on the modified accrual basis. The annual budget serves as the legal authorization for expenditures. Expenditures cannot legally exceed the total amount budgeted for each fund. All budget amendments which change the legally adopted total appropriation for a fund, are approved by the Board of County Commissioners. The level of control for appropriations is exercised at the fund level. (f) Encumbrances Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is not employed by the Supervisor of Elections because it is at present not necessary to assure effective budgetary control or to facilitate effective cash planning and control. (g) Fixed assets Acquisitions of tangible personal property are recorded as expenditures in the General Fund at the time of purchase. These assets are reported to the Collier County, Florida, Board of County Commissioners and are recorded in the Board's General Fixed Asset Group of Accounts. -7- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 -- Note 1. Summary of Significant Accounting Policies, Continued (h) Compensated absences During the current year, the Supervisor of Elections adopted GASB Statement Number 16, "Accounting for Compensated Absences," in the accounting and financial reporting for compensated absences. It is the Supervisor of Elections' policy to allow employees to accumulate unlimited number of hours of unused sick leave and up to 240 hours of unused vacation leave. Upon termination an employee receives 100 percent of allowable accumulated vacation hours and a percentage of the unused sick leave, depending on years of service. For the fiscal year ended September 30, 1994, the liability relating to the calculated amount of such unused sick leave and the full amount of the allowable accumulated vacation leave is recorded in the accompanying financial statements. Because the amount of accrued compensated absences would not normally be liquidated with expendable available resources, it is recorded in the General Long-Term Debt Account Group. In accordance with GASB Statement Number 16, adjustments were made to the compensated absences balance to include employer payroll taxes and retirement contributions. The effect of the adjustment was to increase general long-term debt by $2,286. (i) Total column on combined financial statement The total column on the combined balance sheet is captioned "Memorandum Only" to indicate that it is presented only to facilitate financial analysis. Data in this column does not present financial position or results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2. Cash Deposits At September 30, 1994, the carrying amount of the Supervisor of Elections' deposits was $320,179. These deposits were entirely covered by federal depository insurance or, to the extent that balances exceeded federal depository insurance limits, they were collateralized pursuant to the Florida Security for Public Deposits Act. -8- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 Note 3. Retirement Plan Plan Description and Provisions All full-time Supervisor of Elections employees are participants in the statewide Florida Retirement System (System) under the authority of Article X, Section 14 of the State constitution and Florida Statutes, Chapters 112 and 121. The payroll for the Supervisor of Elections employees covered by the System for the year-end September 30, 1994 was $299,811. The Supervisor of Elections' total payroll was $369,594 for the same period. The Supervisor of Elections' contributions to the plan were $58,420, which represented approximately 19% of the covered payroll. There were no employee contributions to the plan. Total annual covered payroll of the entire System for its fiscal year ended June 30, 1993 (the latest fiscal year for which data is available) was approximately $14.6 billion. Total annual employer contributions to the System for the 1993 fiscal year were $2.6 billion. The Supervisor of Election's contributions were less than .01% of the requirement for all employers. Employees who retire at or after age 62 with 10 years of creditable service (eight years for elected officials) , 10 years of special risk service and age 55, or 30 years of service regardless of age are entitled to a retirement benefit, payable for life, equal to 1.6% to 3.33% per year of creditable service, depending on the class of employee (regular, special risk, etc. ) . Benefits vest after ten years (eight years for elected officials) of credited service. Early retirement may be taken anytime after vesting; however, there is a 5% benefit reduction for each year prior to normal retirement age or date. Disability and survivor benefits are also offered. Benefits are established by state statute. The plan provides a constant 3% cost-of- living adjustment for retirees as required by state laws. Description of Funding Policy This is a cost-sharing, multi-employer plan available to governmental units within the state and actuarial information with respect to an individual participating entity is not available. Participating employers are required, by statute, to pay monthly contributions at actuarially determined rates that, expressed as percentages of annual covered payroll, are adequate to accumulate sufficient assets to pay benefits when due. -9- ^ COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 Note 3. Retirement Plan, Continued Description of Funding Policy, continued The amount shown below as "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, assess progress in accumulating sufficient assets to pay benefits when due, and make comparisons among Public Employee Retirement Systems. The measure is independent of, and should not be confused with, the actuarial funding method used to determine contributions to the System. In accordance with GASB Statement Number 5, "Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers, " an actuarial valuation to determine the pension benefit obligation as of June 30, 1993 was performed by the System's consulting actuaries. Significant actuarial assumptions used include (a) a rate of return on the investment of present and future assets of 8% per year compounded annually; (b) projected salary increases of 5.5% per year compounded annually, attributable to inflation; (c) additional projected salary increases of 2% per year attributable to seniority/merit; and (d) a post-retirement benefit increases of 3% per year. There were no significant changes made to benefit provisions since the last valuation. At June 30, 1993 (the latest year for which data is available) , the pension benefit obligation was approximately $39.7 billion. The System's net assets available for benefits on that date were approximately $29.1 billion (market value) , resulting in an unfunded pension benefit obligation of approximately $10.6 billion. Trend Information Ten-year historical trend information presenting the System's progress in accumulating sufficient assets to pay benefits when due is presented in the System's June 30, 1993 annual financial report. Note 4. Deferred Compensation Plan Under an agreement with Public Employees Benefit Service Corporation -- (PEBSCO) and ICMA Retirement Corporation, the Supervisor of Elections, through the Board of County Commissioners, offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all Supervisor of Elections employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. -10- COLLIER COUNTY, FLORIDA SUPERVISOR OF ELECTIONS NOTES TO FINANCIAL STATEMENTS September 30, 1994 Note 4. Deferred Compensation Plan, Continued All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, property or rights, are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Board of County Commissioners (without being restricted to the provisions of benefits under the plan) , subject only to the claims of the Board of County Commissioners' general creditors. Participants' rights under the plan are equal to those of general creditors of the Board of County Commissioners in an amount equal to the fair market value of the deferred account for each participant. The Board of County Commissioners believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. The assets of the plan are recorded as part of the Board of County Commissioners' Agency Fund. Note 5. Self-Insurance Programs ..., The Supervisor of Elections participates in the County-wide self-insurance programs. The Collier County, Florida, Board of County Commissioners maintains self-insurance internal service funds to administer insurance activities relating to workers' compensation, life and health, and property and casualty. The County absorbs losses up to a specified amount annually. Excess and other specific coverages are purchased from third-party carriers. Charges to operating departments are based upon amounts believed by the Board's management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the programs. For fiscal year ended September 30, 1994, the Supervisor of Elections was charged approximately $42,500 for these programs. Note 6. Changes in General Long-Term Debt The following changes in general long-term debt occurred during the year ended September 30, 1994: Accrued compensated absences payable at October 1, 1993 $ 9,638 Increase in accrued compensated absences 3.456 Accrued compensated absences payable at September 30, 1994 $13,094 -11- SUPPLEMENTARY INFORMATION COLLIER COUNTY, FLORIDA —' SUPERVISOR OF ELECTIONS STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - AGENCY FUND ' -- For the Fiscal Year Ended September 30, 1994 Balance Balance October 1, September 30, 1993 Additions Deletions 1994 ASSETS Cash $ 570 $ -0- 570 $ -0- LIABILITIES Due to individuals $ 570 0- 570 $ -0- -12- Honorable Mary Morgan Supervisor of Elections Collier County, Florida We have audited the financial statements of the Collier County, Florida, Supervisor of Elections as of and for the year ended September 30, 1994 and have issued our report thereon dated December 30, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3) (a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In planning and performing our audit of the financial statements of the Collier County, Florida, Supervisor of Elections for the year ended September 30, 1994, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. The management of the Collier County, Florida, Supervisor of Elections, is responsible - for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any .� evaluation of the structure to future periods is subject to the risk that procedures may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: Revenue/Receipts . Expenditures/Disbursements . Financial Reporting . Budgetary -13- For all of the internal control structure categories listed above, we obtained an understanding of the design of relevant policies and procedures./and whether they have — been placed in operation, and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a — relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we considered to be material weaknesses as defined above. This report is intended for the information of the Collier County, Florida, Supervisor of Elections and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. &12.10,14,4 Ji-O./061SWe. GYOY- COOPERS & LYBRAND L.L.P. Fort Myers, Florida December 30, 1994 -14- '-' Honorable Mary Morgan Supervisor of Elections Collier County, Florida We have audited the financial statements of the Collier County, Florida, Supervisor of Elections as of and for the year ended September 30, 1994 and have issued our report thereon dated December 30, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3) (a)4. , of the Florida Statutes. Those standards require that we ... plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Compliance with laws, regulations and contracts applicable to the Collier County, Florida, Supervisor of Elections, is the responsibility of Collier County, Florida, Supervisor of Elections' management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of the Supervisor of Elections' compliance with certain provisions of laws, regulations and contracts. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, Collier County, Florida, Supervisor of Elections, complied in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, —" nothing came to our attention that caused us to believe that the Supervisor of Elections had not complied, in all material respects, with those provisions. This report is intended for the information of the Collier County, Florida, Supervisor of Elections and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution • is not limited. de/Ope4 46,tai6 ,K0$ COOPERS & LYBRAND L.L.P. Fort Myers, Florida December 30, 1994 -15- "' - - n - Honorable Mary Morgan Supervisor of Elections Collier County, Florida In connection with our audit of the financial statements of the Collier County, Florida, Supervisor of Elections for the year ended September 30, 1994, we are submitting the following report in accordance with Chapter 10.550 "Rules of the Auditor General - Local Governmental Entity Audits" (Revised September 30, 1994) and Section 11.45(3)(a)4. , of the Florida Statutes. I. PRIOR YEAR COMMENTS THAT HAVE BEEN RESOLVED Reserve for Contingencies Should be Considered in Future Budgets II. CURRENT YEAR COMMENTS None. _. We have included in the letter all comments which came to our attention during the course of our audit regarding Items 1 through 7 of the "Rules of the Auditor General - Local Governmental Entity Audits, " Rule 10.554, Section (1)(f) . In regard to Item 3, nothing came to our attention to cause us to believe that any time during the year the Supervisor of Elections met any of the criteria for being in a state of financial emergency as defined in Florida Statute 218.503(1) . Additionally, in regard to Item 7(c) , we represent that the financial report filed with the Department of Banking and Finance, pursuant to Section 218.32, of the Florida Statutes, is in agreement with the annual post audit report for the period under examination. After you have reviewed this letter, we shall be pleased to discuss the contents with you. —. 4214.47ZOY4(10YatCl!P COOPERS & LYBRAND L.L.P. Fort Myers, Florida December 30, 1994 -16- COLLIER COUNTY, FLORIDA TAX COLLECTOR FINANCIAL STATEMENTS,. TOGETHER WITH REPORTS OF INDEPENDENT ACCOUNTANTS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1994 COLLIER COUNTY, FLORIDA TAX COLLECTOR TABLE OF CONTENTS Page REPORT OF INDEPENDENT ACCOUNTANTS 1 FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Group 2 Statement of Revenues, Expenditures and Changes in Fund Balance - General Fund 3 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual (non-GAAP Budgetary Basis) - General Fund 4 Notes to Financial Statements 5 - 13 SUPPLEMENTARY INFORMATION Combined Statement of Changes in Assets and Liabilities - All Agency Funds 14 INDEPENDENT ACCOUNTANTS' REPORT ON THE INTERNAL CONTROL STRUCTURE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 15 - 16 INDEPENDENT ACCOUNTANTS' REPORT ON COMPLIANCE BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 17 MANAGEMENT LETTER 18 REPORT OF INDEPENDENT ACCOUNTANTS Honorable Guy L. Carlton Tax Collector Collier County, Florida We have audited the financial statements of the Collier County, Florida, Tax Collector, as of and for the year ended September 30, 1994, as listed in the Table of Contents. These financial statements are the responsibility of the Tax Collector's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards and Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. _ An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Collier County, Florida, Tax Collector at September 30, 1994, and the results of its operations for the year then ended, in conformity with generally accepted accounting principles. Our audit was made for the purpose of forming an opinion on the financial statements taken as a whole. The supplementary information included on page 14 is presented for purposes of additional analysis and is not a required part of the financial statements of the Collier County, Florida, Tax Collector. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole. &70//e42 CW4We COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 4, 1994 - 1 - COLLIER COUNTY, FLORIDA TAX COLLECTOR COMBINED BALANCE SHEET - _ ALL FUND TYPES AND ACCOUNT GROUP September 30, 1994 Governmental Fiduciary Account Fund Type Fund Type Group General Totals Long-Term (Memorandum General Agency Debt Only) ASSETS AND OTHER DEBIT Cash $2,314,243 $2,545,971 $ - $4,860,214 Investment with Trustee - 595,938 - 595,938 Due from other funds 53,470 1,944 - 55,414 Amount to be provided for retirement of general long-term debt - - 647.889 647.889 Total assets and other debit $2,367,713 $3,143,853 $647,889 $6,159,455 LIABILITIES AND FUND EQUITY LIABILITIES Due to the Board of County Commissioners $2,153,412 $ 428,989 $ - $2,582,401 Due to other funds - 55,414 - 55,414 Due to other governments 214,301 1,675,060 - 1,889,361 Due to individuals - 388,452 - 388,452 Deferred compensation payable - 595,938 - 595,938 Lease payable - - 500,954 500,954 Accrued compensated absences - - 146,935 146,935 Total liabilities 2,367,713 3,143.853 647.889 6,159,455 FUND EQUITY Fund balances - - - - Total liabilities and fund equity $2,367,713, $3,143.853, $647.889 $6,159,455 See Accompanying Notes. - 2 - COLLIER COUNTY, FLORIDA TAX COLLECTOR STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - GENERAL FUND For the Fiscal Year Ended September 30, 1994 Revenues Charges for services $ 5,747,965 Miscellaneous 104,082 Total revenues 5,852,047 Expenditures Current General government Personal services 2,778,112 Operating expenditures 735,952 Capital outlay 52,049 Debt service Principal 97,288 Interest 35,234 Total expenditures 3,698,635 Excess of revenues over expenditures 2,153,412 Other financing uses Operating transfers out (2,153,412) Excess of revenues over expenditures and other financing uses - Fund balance - October 1, 1993 - Fund balance - September 30, 1994 1-----L2 -- See -0See Accompanying Notes. -- - 3 - COLLIER COUNTY, FLORIDA TAX COLLECTOR STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) - GENERAL FUND For the Fiscal Year Ended September 30, 1994 Variance- Favorable Budget Actual (Unfavorable) Revenues Charges for services $ 5,962,266 $ 5,747,965 $(214,301) Miscellaneous 104.082 104,082 - Total revenues 6.066,348 5,852,047 (214,301) Expenditures Current General government Personal services 2,778,112 2,778,112 - Operating expenditures 736,148 735,952 196 Capital outlay 184,571 184,571 - Total expenditures 3,698,831 3,698,635 196 Excess of revenues _ over expenditures 2,367,517 2,153,412 (214,105) Other financing uses Operating transfers out (2,367,517) (2,153,412) 214,105 Excess of revenues over expenditures and other financing uses Fund balance - October 1, 1993 - Fund balance - September 30, 1994 S -0- See Accompanying Notes. _. - 4 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies The following is a summary of the significant accounting principles and policies: (a) Defining the governmental reporting entity The Tax Collector, as an elected constitutional officer and county agency, is considered a part of the Collier County Board of County Commissioners (primary government) . As such, the Tax Collector's financial statements are included in the general purpose financial statements of Collier County. Effective for the year ended September 30, 1994, the Tax Collector adopted Governmental Accounting Standards Board (GASB) Statement Number 14, "Financial Reporting Entity, " which requires the financial statements of the reporting entity to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government or financial reporting entity are financially accountable. Based on the criteria established by GASB 14, there are no component units included in the Tax Collector's financial statements. (b) Fund accounting The accounts of the Tax Collector are organized on the basis of funds and an account group, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures, as appropriate. _ Government resources are allocated to, and accounted for, in individual funds, based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The following fund types and account group are used by the Tax Collector: Governmental Fund Type General Fund - The General Fund is used to account for all revenues and expenditures applicable to the general operations of the Tax Collector which are not properly accounted for in another fund. All operating revenues, which are not specifically restricted or designated as to use, are recorded in the General Fund. Excess revenues at the end of the year, due back to the Board of County Commissioners, are shown as operating transfers out. Fiduciary Fund Type Agency Funds - Agency Funds are used to account for assets held by public officials in a trustee capacity or as an agent for individuals, private organizations, other governments and/or other funds. - 5 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (b) Fund accounting, continued Account Group General Long-Term Debt - This self-balancing account group is used to account for the principal amounts of general long-term indebtedness, as well as the long-term portion of compensated absences. (c) Measurement focus Governmental Fund Type - The General Fund is accounted for on a "spending" or "financial flow" measurement focus. This means that _ only current assets and current liabilities are generally included on the balance sheet. Accordingly, the reported undesignated fund balance (net current assets) is considered a measure of available, spendable or appropriable resources. Governmental Fund Type operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Fiduciary Fund Type - Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Account Group - The General Long-Term Debt Account Group is concerned only with the measurement of financial position. It is not involved with the measurement of results of operations. Long-term debts, which are not intended to be financed through Fiduciary Funds, are accounted for in the General Long-Term Debt Account Group. (d) Basis of accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. -- Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. The modified accrual basis of accounting is followed by the General and Agency Funds. The modification in such method from the accrual basis is that revenues are recorded when they become measurable and available as net current assets. Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. Exceptions to this general rule include: (1) principal and interest on general long-term debt, which is recognized when due; and (2) expenditures are not divided between years by the recording of prepaid expenses. - 6 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (e) Budgetary process Chapter 195, Florida Statutes, governs the preparation, adoption and — amendment process of the Tax Collector's annual budget. A budget is only required to be prepared for the General Fund. The Tax Collector's budget and amendments are prepared independently of the Board of County Commissioners and are approved by the Florida State Department of Revenue. A copy of the approved budget is provided to the Board of County Com- - missioners. The budget for the General Fund is prepared on the modi- fied accrual basis, except that proceeds from long-term indebtedness and the related acquisition of assets, if any, are not budgeted, and principal and interest on long-term debt are budgeted as capital outlay. The level of control for appropriations is exercised at the fund level. (f) Encumbrances Encumbrance accounting, under which purchase orders, contracts and _ other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is not employed by the Tax Collector because it is at present not necessary to assure effective budgetary control or to facilitate effective cash .– planning and control. (g) Fixed assets Acquisitions of tangible personal property are recorded as expenditures in the General Fund at the time of purchase. These assets are reported to the Collier County, Florida, Board of County Commissioners and are recorded in the Board's General Fixed Asset Group of Accounts. (h) Compensated absences During the current year, the Tax Collector adopted GASB Statement Number 16, "Accounting for Compensated Absences," in the accounting _, and financial reporting for compensated absences. It is the Tax Collector's policy to allow employees to accumulate unlimited number of hours of unused sick leave. Upon termination an employee receives a percentage of the unused sick leave, depending on years of service. For the fiscal year ended September 30, 1994, the liability relating to the calculated amount of such unused sick leave is recorded in the accompanying financial statements. Because the amount of accrued compensated absences would not normally be liquidated with expendable available resources, it is recorded in the General Long-Term Debt Account Group. Under the Tax Collector's employee policy, any unused vacation time remaining at year-end is forfeited. Thus, no liability for vacation leave is recorded in the accompanying financial statements. -- - 7 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 1. Summary of Significant Accounting Policies, Continued (h) Compensated absences, continued In accordance with GASB Statement Number 16, adjustments were made to the compensated absences balance to include employer payroll taxes and retirement contributions. The effect of the adjustments was to increase general long-term debt by $10,442. (i) Total column on combined balance sheet The total column on the combined balance sheet is captioned "Memorandum Only" to indicate that it is presented only to facilitate financial analysis. Data in this column does not present financial _ position or results of operations in conformity with generally accepted accounting principles. Neither is such data comparable to a consolidation. Interfund eliminations have not been made in the aggregation of this data. Note 2. Cash and Investments Florida Statutes and the Tax Collector's Investment Policy authorize investments in certificates of deposit, savings accounts, the Local Government Surplus Funds Trust Fund administered by the Florida State Board of Administration, obligations of the U.S. Government and government agencies unconditionally guaranteed by the U.S. Government. Certificates of deposit, savings accounts and bank balances whose values exceed the amount of federal depository insurance are collateralized pursuant to the Florida Security for Public Deposits Act. In addition, at September 30, 1994 the Tax Collector's investment with trustee (in mutual funds) totaled $595,938 which equals its market value. This amount is not required to be categorized pursuant to GASB Statement — Number 3, "Deposits with Financial Institutions, Investments (including Repurchase Agreements) and Reverse Repurchase Agreements," because it is not represented by underlying securities in either physical or book entry _ form. -- - 8 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 3. Retirement Plan Plan Description and Provisions All full-time Tax Collector employees are participants in the statewide Florida Retirement System (System) under the authority of Article X, Section 14 of the state constitution and Florida Statutes, Chapters 112 and 121. The payroll for Tax Collector employees covered by the System for the year ended September 30, 1994 was $1,854,470; the Tax Collector's total payroll was $1,880,620 for the same period. The Tax Collector's contributions to the plan were $343,288, which represented approximately 18% of the Tax Collector's covered payroll. There were no employee contributions to the plan. Total annual covered payroll for the entire System for its fiscal year ended June 30, 1993 (the latest fiscal year for which data is available) was $14.6 billion. Total annual employer contributions to the System for the 1993 fiscal year were $2.6 billion. The Tax Collector's contributions were approximately .01% of the requirement for all employers. Employees who retire at or after age 62 with 10 years of creditable service (eight years for elected officials) , 10 years of special risk service and age 55, or 30 years of service regardless of age, are entitled to a retirement benefit, payable for life, equal to 1.6% to 3.33% per year of creditable service, depending on the class of employee (regular, special risk, etc. ) . Benefits vest after ten years (eight years for elected officials) of credited service. Early retirement may be taken anytime after vesting. However, there is a 5% benefit reduction for each year prior to normal retirement age or date. Disability and survivor benefits are also offered. Benefits are established by state statute. The plan provides for a constant 3% cost- of-living adjustment for retirees, as required by state law. Description of Funding Policy This is a cost-sharing, multi-employer plan available to governmental units within the state and actuarial information with respect to an individual participating entity is not available. Participating employers are required, by statute, to pay monthly contributions at actuarially determined rates that, expressed as percentages of annual covered payroll, are adequate to accumulate sufficient assets to pay benefits when due. _ - 9 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 3. Retirement Plan, Continued Description of Funding Policy, continued The amount shown below as "pension benefit obligation" is a standardized measure of the present value of pension benefits, adjusted for the effects of projected salary increases, estimated to be payable in the future as a result of employee service to date. The measure is the actuarial present value of credited projected benefits and is intended to help users assess the System's funding status on a going-concern basis, assess progress in accumulating sufficient assets to pay benefits when due, and make comparisons among Public Employee Retirement Systems. The measure is independent of, and should not be confused with, the actuarial funding method used to determine contributions to the System. In accordance with GASB Statement Number 5, "Disclosure of Pension Information by Public Employee Retirement Systems and State and Local Governmental Employers," an actuarial valuation to determine the pension benefit obligation as of June 30, 1993 was performed by the System's consulting actuaries. Significant actuarial assumptions used include (a) a rate of return on the investment of present and future assets of 8% per year compounded annually; (b) projected salary increases of 5.5% per year compounded annually, attributable to inflation; (c) additional projected salary increases of 2% per year attributable to seniority/merit; and (d) a post-retirement benefit increase of 3% per year. There were no significant changes made to benefit provisions since the last valuation. At June 30, 1993 (the latest year for which data is available) , the pension benefit obligation was approximately $39.7 billion. The System's net assets available for benefits on that date were approximately $29.1 billion (market value) , resulting in an unfunded pension benefit obligation of approximately $10.6 billion. Trend Information ` Ten-year historical trend information presenting the System's progress in accumulating sufficient assets to pay benefits when due is presented in the System's June 30, 1993 annual financial report. Note 4. Deferred Compensation Plan Under an agreement with the National Association of County Officers (NACO) , the Tax Collector offers his employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available '— to all Tax Collector employees, permits them to defer a portion of their salary until future years. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. - 10 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 4. Deferred Compensation Plan, Continued All amounts of compensation deferred under the plan, all property and rights purchased with those amounts, and all income attributable to those amounts, _. property or rights, are (until paid or made available to the employee or other beneficiary) solely the property and rights of the Tax Collector (without being restricted to the provisions of benefits under the plan) , subject only to the claims of the Tax Collector's general creditors. Participants' rights under the plan are equal to those of general creditors of the Tax Collector in an amount equal to the fair market value of the deferred account for each participant. The Tax Collector believes that it is unlikely that it will use the assets to satisfy the claims of general creditors in the future. Note 5. Self-Insurance Program The Tax Collector participates in the County-wide self-insurance programs. The Collier County, Florida, Board of County Commissioners maintains a self- insurance internal service fund to administer insurance activities relating to workers' compensation, health, and property and casualty. The County absorbs losses up to a specified amount annually. Excess and other specific coverages are purchased from third-party carriers. Charges to operating departments are based upon amounts believed by the Board's management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the programs. For fiscal year ended September 30, 1994, the Tax Collector was charged approximately $406,000 for the various self-insurance programs. Note 6. Changes in General Long-Term Debt The following changes in general long-term debt occurred during the year ended September 30, 1994: Long-term debt payable at October 1, 1993 $ 736,919 Increase in compensated absences 38,217 Principal retired (127.247) Long-term debt payable at September 30, 1994 $ 647,889, Ommg 11 - COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 6. Changes in General Long-Term Debt, Continued General long-term debt is comprised of the following: 6.25% capital lease obligation, payable to corpora- tion collateralized by data processing equipment, payable in four annual installments of $127,500 and a final payment of $83,507, including inter- - est, through December 31, 1999 $ 500,954 Noncurrent portion of compensated absences. Employees of the Tax Collector are entitled to paid sick leave, based on length of service and job classification. 146,935 $ 647,889 Minimum future lease payments under capital lease obligations as of Sep- - tember 30, 1994, for each of the next five years and in the aggregate, are: Year Ending September 30 1995 $127,500 1996 127,500 1997 127,500 1998 127,500 1999 83.507 Total minimum lease payments 593,507 Less amount representing interest 92.553 Present value of minimum lease payments $500,954, Note 7. Interfund Receivables and Payables Interfund receivable and payable balances at September 30, 1994 were: Fund Due From Due To General Fund $53,470 $ - Agency Fund Occupational License Fund - 26,789 Motor Vehicle Registration Fund - 6,700 Tax Collection Fund - 12,414 Delinquent Taxes Fund - 4,913 Hunting & Fishing License Fund - 4,058 Vessel Registration Fund 1.944 540 $55,414 $55,414 - 12 - -- COLLIER COUNTY, FLORIDA TAX COLLECTOR NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 1994 Note 8. Operating Leases The Tax Collector leases space for two satellite offices under operating lease agreements, one of which expires in February 1997 and the other March 31, 1998. The minimum future rental payments on these leases are $1,167 and $3,160 per month, respectively, and are adjusted annually for changes in the Consumer Price Index. The minimum rental commitments under current operating leases are as follows: 1995 $ 55,402 1996 57,346 1997 34,904 1998 7.000 Total minimum payments $154.652 Rental expense for the year ended September 30, 1994 was $55,762. m. Nom mom - 13 - SUPPLEMENTARY INFORMATION —' COLLIER COUNTY, FLORIDA TAX COLLECTOR COMBINED STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - ALL AGENCY FUNDS For the Fiscal Year Ended September 30, 1994 Balance Balance October 1, September 30, 1993 Additions Deletions 1994 TOTAL - ALL AGENCY FUNDS ASSETS Cash $2,774,273 $260,874,811 $261,103,113 $2,545,971 Investment with trustee 489,380 119,639 13,081 595,938 Due from other funds 5,176 - 3,232 1,944 $3,268,829 $260,994,450 $261,119,426 23,143,853 LIABILITIES Due to the Board of County Commissioners $ 720,121 $ 79,385,891 $ 79,677,023 $ 428,989 Due to other funds 87,464 6,060,898 6,092,948 55,414 Due to other governments 1,725,176 169,486,004 169,536,120 1,675,060 Due to individuals 246,688 9,203,848 9,062,084 388,452 Deferred compensation payable 489,380 119,639 13,081 595,938 $3,268,829 $264,256,280 $264,381,256 $3,143,853 - 14 - Honorable Guy L. Carlton Tax Collector Collier County, Florida We have audited the financial statements of the Collier County, Florida, Tax Collector as of and for the year ended September 30, 1994 and have issued our report thereon dated November 4, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3) (a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. In planning and performing our audit of the financial statements of the Collier County, Florida, Tax Collector for the year ended September 30, 1994, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. The management of the Collier County, Florida, Tax Collector is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. The objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are safeguarded against loss from unauthorized use or disposition, and that transactions are executed in accordance with management's authorization and recorded properly to permit the preparation of financial statements in accordance with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may nevertheless occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that procedures — may become inadequate because of changes in conditions or that the effectiveness of the design and operation of policies and procedures may deteriorate. For the purpose of this report, we have classified the significant internal control structure policies and procedures in the following categories: Revenues/Receipts Expenditures/Disbursements Financial Reporting Budgetary �- - 15 - For all of the internal control structure categories listed above, we obtained an _ understanding of the design of relevant policies and procedures and whether they have been placed in operation and we assessed control risk. Our consideration of the internal control structure would not necessarily disclose all matters of internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a reportable condition in which the design or operation of one or more of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control structure and its operation that we consider to be material weaknesses as defined above. However, we noted certain matters involving the internal control structure and its operations that we have reported to the management of the Tax Collector in a separate report dated November 4, 1994. This report is intended solely for the use of the Collier County, Florida, Tax Collector and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its r distribution is not limited. d5421.44 p=674,640x4e: COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 4, 1994 - 16 - ammo Honorable Guy L. Carlton Tax Collector Collier County, Florida We have audited the financial statements of the Collier County, Florida, Tax Collector as of and for the year ended September 30, 1994 and have issued our report thereon dated November 4, 1994. We conducted our audit in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Comptroller General of the United States and Section 11.45(3) (a)4. , of the Florida Statutes. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Compliance with the laws, regulations, and contracts applicable to the Collier County, Florida, Tax Collector is the responsibility of the Tax Collector's management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we performed tests of the Tax Collector's compliance with certain provisions of laws, regulations, and contracts. However, our objective was not to provide an opinion on overall compliance with such provisions. The results of our tests indicate that, with respect to the items tested, the Collier County, Florida, Tax Collector complied, in all material respects, with the provisions referred to in the preceding paragraph. With respect to items not tested, nothing came to our attention that caused us to believe that the Collier County, Florida, Tax Collector had not complied, in all material respects, with those provisions. This report is intended solely for the use of the Collier County, Florida, Tax Collector and Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. 4(21442 (Y>fo6i( XCY161:? COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 4, 1994 - 17 - Honorable Guy L. Carlton —' Tax Collector Collier County, Florida In connection with our audit of the financial statements of the Collier County, Florida, Tax Collector for the year ended September 30, 1994, we are submitting the following comments and recommendations in accordance with Chapter 10.550 "Rules of the Auditor General - Local Governmental Entity Audits" (Revised September 30, 1994) and Section 11.45(3)(a)4. , of the Florida Statutes. I. PRIOR YEAR COMMENTS None II. CURRENT YEAR COMMENTS 1. Renewal of Surety Bond Was Not Received on a Timely Basis During our review of subagent's surety bonds for fresh and salt water fishing and game licenses, we noted that a bond had expired, but the Tax Collector did not receive the renewal on a timely basis. We recommend the Tax Collector send notices to the subagents before bonds expire to obtain renewed bonds prior to expiration date. We have included in this letter, all comments which came to our attention during the course of our audit regarding Items 1 through 7 of the "Rules of the Auditor General - Local Governmental Entity Audits, " Rule 10.554, Section 1(f) . In regard to Item 3, nothing came to our attention to cause us to believe that any time during the year the Tax Collector met any of the criteria for being in a state of financial emergency as defined in Florida Statute 218.503(1) . Additionally, in regard to Item 7(c) , we represent that the financial report filed with the Board of County Commissioners, pursuant to Section 218.32 of the Florida Statutes, is in agreement with the annual post audit report for the period under examination. This report is intended solely for the use of the Collier County, Florida, Tax Collector and the Auditor General of the State of Florida and should not be used for any other purpose. However, this report is a matter of public record and its distribution is not limited. A:96.4Ate4W COOPERS & LYBRAND L.L.P. Fort Myers, Florida November 4, 1994 - 18 -