FY End 09/30/2021 Basic Financial Statements & Reports NORTH COLLIER FIRE CONTROL
AND RESCUE DISTRICT
BASIC FINANCIAL STATEMENTS
TOGETHER WITH ADDITIONAL REPORTS
YEAR ENDED
SEPTEMBER 30,2021
TABLE OF CONTENTS
Page(s)
INDEPENDENT AUDITOR'S REPORT 1-4
MANAGEMENT'S DISCUSSION AND ANALYSIS(MD&A) i-xi
BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS:
Statement of Net Position 5
Statement of Activities 6
FUND FINANCIAL STATEMENTS:
Governmental Funds:
Balance Sheet 7
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position 8
Statement of Revenues,Expenditures and Changes
in Fund Balance 9
Reconciliation of the Statement of Revenues,Expenditures and Changes
in Fund Balance of Governmental Funds to the Statement of Activities 10
Fiduciary Fund-Firefighters'Pension Plan:
Statement of Fiduciary Net Position 11
Statement of Changes in Fiduciary Net Position 12
NOTES TO THE FINANCIAL STATEMENTS 13-81
OTHER INFORMATION
COMBINING FINANCIAL STATEMENTS BY SERVICE DELIVERY AREA
Governmental Funds
Combining Balance Sheet-General Fund-by Service Delivery Area 82
Combining Statement of Revenues,Expenditures,and Changes in Fund Balance-
General Fund-by Service Delivery Area 83
REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN MD&A
NORTH NAPLES SERVICE DELIVERY AREA
BUDGET TO ACTUAL COMPARISON-MAJOR FUNDS(General and Special Revenue Funds)
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
General Fund-Summary Statement 84
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
General Fund-Detailed Statement 85-87
BIG CORKSCREW ISLAND SERVICE DELIVERY AREA
BUDGET TO ACTUAL COMPARISON-MAJOR FUNDS(General and Special Revenue Funds)
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
General Fund-Summary Statement 88
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
General Fund-Detailed Statement 89-91
TABLE OF CONTENTS(CONTINUED)
Page(s)
COMBINED SERVICE DELIVERY AREAS
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
Impact Fee Fund-Combined Service Delivery Areas Summary Statement 92
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
Impact Fee Fund-Combined Service Delivery Areas Detailed Statement 93
BUDGET TO ACTUAL COMPARISON-OTHER NON-MAJOR GOVERNMENTAL FUND
Special Revenue Fund:
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
Inspection Fee Fund-Summary Statement 94
Statement of Revenues,Expenditures and Changes in Fund Balance-Budget and Actual-
Inspection Fee Fund-Detailed Statement 95-96
OTHER REQUIRED SUPPLEMENTARY INFORMATION
Schedule of District's Proportionate Share of the Net Pension Liability-Florida Retirement
System Pension Plan(FRS) 97
Schedule of District Contributions-Florida Retirement System Pension Plan(FRS) 97
Schedule of District's Proportionate Share of the Net Pension Liability-Health Insurance
Subsidy Pension Plan(HIS) 98
Schedule of District Contributions-Health Insurance Subsidy Pension Plan(HIS) 98
Notes to the Required Supplementary Information-FRS/HIS 99-100
Schedule of Changes in the Net OPEB Liability and Related Ratios,GASB No. 75 and
Related Notes to the Schedule 101
Schedule of Changes in the District's Net Pension Liability and Related Ratios(unaudited)-
Firefighters'Pension Trust Fund 102
Schedule of District Contributions-Firefighters'Pension Trust Fund 103
Schedule of Investment Returns-(Unaudited)Firefighters'Pension Trust Fund 104
Notes to the Required Supplementary Information-Firefighters' Pension Trust Fund 105
ADDITIONAL REPORTS
Independent Auditor's Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Basic Financial Statements
Performed in Accordance with Government Auditing Standards 106-107
Independent Accountant's Report on Compliance with Section 218.415,Florida
Statutes 108
Independent Auditor's Report to Management 109-111
Management's Response to Independent Auditor's Report to Management Exhibit 1
Florida Rules of the Auditor General-Rule 10.554(1)(i)6-8 Compliance-Unaudited Exhibit 2
fr v TuscAN Affiliations
Florida Institute of Certified Public Accountants
& O�alp,ur3y, PA American Institute of Certified Public Accountants
Private Companies Practice Section
Certified Public Accountants&Consultants Tax Division
INDEPENDENT AUDITOR'S REPORT
Board of Commissioners
North Collier Fire Control and Rescue District
1885 Veterans Park Drive
Naples,Florida 34109-0492
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities,each major fund,the non-major fund
and the fiduciary fund type of North Collier Fire Control and Rescue District(the"District")as of and for the year ended
September 30,2021,and the related notes to the financial statements,which collectively comprise the District's basic
financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
accounting principles generally accepted in the United States of America;this includes the design,implementation,and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from
material misstatement,whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.We did not audit the financial
statements of North Collier Fire Control and Rescue District Firefighters'Pension Trust Fund("Fiduciary Fund-Pension
Fund")as of and for the year ended September 30,2021,which represent 100%of the assets,liabilities and net position as
well as 100%of the revenue and expenses of the District's Fiduciary Fund.Those financial statements were audited by other
auditors whose report thereon has been furnished to us,and our opinion,insofar as it relates to the amounts included for
North Collier Fire Control and Rescue District Firefighters'Pension Trust Fund,is based on the report of the other auditors.
We also did not audit the financial statements of the Florida Retirement System Pension Plan(FRS)or Health Insurance
Subsidy Pension Plan(HIS)as of and for the year ended June 30,2021. The District is required to record its proportionate
share of the FRS and HIS liability in the District's government-wide financial statements as of September 30,2021 and for the
year then ended. The Florida Retirement System financial statements were audited by other auditors whose reports have
been furnished to us,and our opinion,insofar as it relates to the amounts included for the District's government-wide financial
statements,are based on the reports of the other auditors. We conducted our audit in accordance with auditing standards
generally accepted in the United States of America and the standards applicable to financial audits contained in Government
Auditing Standards,issued by the Comptroller General of the United States of America. Those Standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment,including the assessment of the risks of material
misstatement of the financial statements,whether due to fraud or error. In making those risk assessments,the auditor
considers internal control relevant to the District's preparation and fair presentation of the financial statements in order to
INTEGRITY SERVICE EXPERIENCE
12621 World Plaza Lane,Building 55 •Fort Myers, FL 33907 •Phone: (239)333-2090•Fax: (239)333-2097
Board of Commissioners
North Collier Fire Control and Rescue District
Page 2
design audit procedures that are appropriate in the circumstances,but not for the purpose of expressing an opinion on the
effectiveness of the District's internal control. Accordingly,we express no such opinion. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by
management,as well as evaluating overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Summary of Opinions
Opinion Unit Type of Opinion
Governmental Activities Unmodified
General Fund Unmodified
Impact Fee Fund Unmodified
Inspection Fee Fund Unmodified
Firefighters'Pension Trust Fund Unmodified
Opinions
Unmodified Opinions
In our opinion,based on our audit and the report of other auditors,the financial statements referred to above present fairly,in
all material respects,the respective financial position of the governmental activities,each major fund,the non-major fund and
the fiduciary fund type of North Collier Fire Control and Rescue District as of September 30,2021,and the respective
changes in financial position,for the year then ended in accordance with accounting principles generally accepted in the
United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's discussion and
analysis on pages i-xi,Schedule of the District's Proportionate Share of the Net Pension Liability-Florida Retirement System
Pension Plan(FRS),Schedule of District Contributions-Florida Retirement System Pension Plan(FRS),Schedule of the
District's Proportionate Share of the Net Pension Liability-Health Insurance Subsidy Pension Plan(HIS),Schedule of
District Contributions-Health Insurance Subsidy Pension Plan(HIS),Notes to the Required Supplementary Information and
Schedule of Changes in the Net OPEB Liability and Related Ratios GASB No.75 and Related Notes to the Schedule,
Schedule of Changes in the District's Net Pension Liability and Related Ratios(unaudited)-Firefighters'Pension Trust Fund,
Schedule of District Contributions-Firefighters'Pension Trust Fund,Schedule of Investment Returns-(Unaudited)
Firefighters'Pension Trust Fund and Notes to the Required Supplementary Information-Firefighters'Pension Trust Fund as
listed in the table of contents,be presented to supplement the basic financial statements. Such information,although not a
part of the basic financial statements,is required by the Governmental Accounting Standards Board which considers it to be
an essential part of financial reporting for placing the basic financial statements in an appropriate operational,economic,or
historical context. We have applied certain limited procedures to the required supplementary information-management's
discussion and analysis(MD&A),Schedule of the District's Proportionate Share of the Net Pension Liability-Florida
Retirement System Pension Plan(FRS),Schedule of District Contributions-Florida Retirement System Pension Plan(FRS),
Schedule of the District's Proportionate Share of the Net Pension Liability-Health Insurance Subsidy Pension Plan(HIS),
Schedule of District Contributions-Health Insurance Subsidy Pension Plan(HIS),Notes to the Required Supplementary
Information and Schedule of Changes in the Net OPEB Liability and Related Ratios GASB No.75 and Related Notes to the
Schedule,Schedule of Changes in the District's Net Pension Liability and Related Ratios(unaudited)-Firefighters'Pension
Trust Fund,Schedule of District Contributions-Firefighters'Pension Trust Fund,Schedule of Investment Returns-
(Unaudited)Firefighters'Pension Trust Fund and Notes to the Required Supplementary Information-Firefighters'Pension
Trust Fund as listed in the table of contents,in accordance with auditing standards generally accepted in the United States of
America,which consisted of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management's responses to our inquiries,the basic financial statements,and other
Board of Commissioners
North Collier Fire Control and Rescue District
Page 3
knowledge we obtained during our audit of the basic financial statements.We do not express an opinion or provide any
assurance on the required supplementary information-management's discussion and analysis(MD&A), Schedule of the
District's Proportionate Share of the Net Pension Liability-Florida Retirement System Pension Plan(FRS),Schedule of
District Contributions-Florida Retirement System Pension Plan(FRS),Schedule of the District's Proportionate Share of the
Net Pension Liability-Health Insurance Subsidy Pension Plan(HIS),Schedule of District Contributions-Health Insurance
Subsidy Pension Plan(HIS), Notes to the Required Supplementary Information and Schedule of Changes in the Net OPEB
Liability and Related Ratios GASB No.75 and Related Notes to the Schedule,Schedule of Changes in the District's Net
Pension Liability and Related Ratios(unaudited)-Firefighters'Pension Trust Fund,Schedule of District Contributions-
Firefighters'Pension Trust Fund,Schedule of Investment Returns-(Unaudited)Firefighters'Pension Trust Fund and Notes to
the Required Supplementary Information-Firefighters'Pension Trust Fund as listed in the table of contents,because the
limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Required Supplementary Information
Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise North
Collier Fire Control and Rescue District's basic financial statements.The required supplementary information other than
MD&A-budgetary comparison information is presented for purposes of additional analysis and is not a required part of the
basic financial statements.The required supplementary information other than MD&A budgetary comparison information is
the responsibility of management and was derived from and relates directly to the underlying accounting and other records
used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the
audit of the basic financial statements and certain additional procedures,including comparing and reconciling such information
directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial
statements themselves,and other additional procedures in accordance with auditing standards generally accepted in the United
States of America. In our opinion,the required supplementary information other than MD&A-budgetary comparison
information is fairly stated,in all material respects,in relation to the basic financial statements as a whole.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
District's basic financial statements. The combining financial statements as listed in the table of contents,are presented for
purposes of additional analysis and are not a required part of the basic financial statements.
The combining financial statements are the responsibility of management and were derived from and relate directly to the
underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures,including
comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic
financial statements or to the basic financial statements themselves,and other additional procedures in accordance with
auditing standards generally accepted in the United States of America. In our opinion,the combining financial statements are
fairly stated,in all material respects,in relation to the basic financial statements as a whole.
Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the
District's basic financial statements. The Exhibit 1 -Management's Response to Independent Auditor's Report to
Management and Exhibit 2-Florida Rules of the Auditor General-Rule 10.554(1)(i)6-8 Compliance are not a required part
of the basic financial statements but are required by Government Auditing Standards and Rules of the Auditor General,
Section 10.554(i),respectively. Such information has not been subjected to the auditing procedures applied in the audit of the
basic financial statements and,accordingly,we do not express an opinion or provide assurance on it.
Other Reporting Required by Section 218.415,Florida Statutes
In accordance with Section 218.415,Florida Statutes,we have also issued a report dated May 13,2022,on our consideration
of North Collier Fire Control and Rescue District's compliance with provisions of Section 218.415,Florida Statutes. The
purpose of that report is to describe the scope of our testing of compliance and the results of that testing,and to provide an
opinion on compliance with the aforementioned Statute. That report is an integral part of an audit performed in accordance
with Sections 218.39 and 218.415,Florida Statutes in considering North Collier Fire Control and Rescue District's compliance
with Section 218.415,Florida Statutes.
Board of Commissioners
North Collier Fire Control and Rescue District
Page 4
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards,we have also issued our report dated May 13,2022,on our consideration
of the District's internal control over financial reporting and on our tests of its compliance with certain provisions of laws,
regulations,contract and grant agreements and other matters. The purpose of that report is to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing,and not to provide an opinion
on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering North Collier Fire Control and Rescue District's internal
control over financial reporting and compliance.
'id/4"i") ill leM41/1
TUSCAN&COMPANY,P.A.
Fort Myers,Florida
May 13,2022
MANAGEMENT'S DISCUSSION
AND ANALYSIS
(MD&A)
Management's Discussion and Analysis
of Financial Statements FYE September 30, 2021
This Discussion and Analysis of the North Collier Fire Control & Rescue District's ("The
District") basic financial statements is provided to assist the reader in understanding the
District's financial activities and significant changes in ending financial position for the
fiscal year ended September 30, 2021. These statements include the requirements of
GASB Statements #34, #68 and#75 and incorporate those annual reporting requirements,
as well as the financial statement format and presentation.
Contained within are the basic financial statements, consisting of the government-wide
financial statements, governmental fund and fiduciary fund financial statements and
related notes to the financial statements. This Discussion and Analysis will also provide
an analytical overview of these statements, including comparisons of the District's
financial position at September 30,2021 versus September 30, 2020.
District Highlights
1. At the conclusion of fiscal year 2021, the District's assets exceeded its liabilities,
resulting in net assets of$36,918,153 as compared to net assets at September 30,
2020 of$25,511,294.
2. The District had$6,358,076 in unrestricted net assets at September 30, 2021 as
compared to ($6,627,736) deficit of unrestricted net assets at September 30, 2020.
The amount of unrestricted net assets increased by $12,985,812.
3. Total revenues on the government-wide basis increased$278,958 or 1%percent, in
comparison to the prior year.
4. Total expenses on the government-wide basis decreased($8,732,293) or(21%)
percent, in comparison to the prior year.
Government-wide Financial Statements
Government-wide financial statements (Statement of Net Position and Statement of
Activities found on pages 5 and 6) are intended to allow a reader to assess a
government's operational accountability. Operational accountability is defined as the
extent to which the government has met its operating objectives efficiently and
effectively, using all resources available for that purpose, and whether it can continue to
meet its objectives for the foreseeable future. Government-wide financial statements
concentrate on the District as a whole and do not emphasize fund types.
The Statement of Net Position(page 5)presents information on all of the District's assets
and liabilities,with the difference between the two reported as net assets. The District's
capital assets are included in this statement and reported net of their accumulated
depreciation.
The Statement of Activities (page 6)presents revenue and expense information showing
how the District's net assets changed during the fiscal year. Both statements are
measured and reported using the economic resource measurement focus (revenues and
expenses) and the accrual basis of accounting(revenue recognized when earned and
expense recognized when incurred).
BRV 5/18/2022
Governmental Fund Financial Statements
The accounts of the District are organized on the basis of governmental funds, 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 or retained earnings, revenues and expenditures. Government
resources are allocated to and accounted for in individual funds based upon the purpose
for which they are to be spent and the means by which spending activities are controlled.
Governmental fund financial statements (found on pages 7 and 9) are prepared on the
modified accrual basis using the current financial resources measurement focus. Under
the modified accrual basis of accounting,revenues are recognized when they become
measurable and available as net current assets.
Fiduciary Fund
The fiduciary fund is used to account for resources held for the benefit of retired
employees that participated in the District's Firefighters' Pension Plan(Plan 2). The
fiduciary funds are not reflected in the government-wide financial statements because the
resources of this fund are not available to support the District's programs. The
accounting used for the fiduciary fund is much like that used for governmental
proprietary funds. The fiduciary fund financial statements can be found on pages 11 and
12.
Notes to the Financial Statements
The notes to the financial statements explain in detail some of the data contained in the
preceding statements and begin on page 13. These notes are essential to a full
understanding of the data provided in the government-wide and fund financial statements.
Government-Wide Financial Analysis
The government-wide financial statements are designed so that the user can determine if
the District's financial condition is better or worse than the prior year.
BRV 5/18/2022 ll
The following is a Condensed Summary Statement of Net Position for the District
(Primary Government) at September 30, 2021 and 2020:
Summary Statement of Net Position
September 30
Assets: 2021 2020
Current and Other Assets $29,449,689 $23,073,068
Capital Assets 32,860,379 34,692,567
Total Assets 62,310,068 57,765,635
Deferred Outflows - Pensions 15,168,042 16,231,538
Liabilities:
Current Liabilities 8,864,135 3,656,402
Non-Current Liabilities 16,425,423 33,800,721
Total Liabilities 25,289,558 37,457,123
Net Position:
Deferred Inflows - Pensions 15,270,399 11,028,756
Net Investment in Capital Assets 29,780,446 31,974,210
Restricted 779,631 164,820
Unrestricted(deficit) 6,358,076 (6,627,736)
Total Net Position $36,918,153 $25,511,294
Current and other assets represent 47 percent of total assets at September 30, 2021, as
compared to 40 percent of total assets at September 30,2020. Current assets at September
30, 2021 are comprised of unrestricted cash balances of$12,947,420, restricted cash of
$5,178,575,investments of$10,175,383,due from other governments of$1,057,647,other
receivables of $71,317 and other assets of $19,347. The balances of unrestricted cash
represent amounts that are available for spending at the discretion of the Board of Fire
Commissioners of the District. Restricted cash balances are comprised of the impact fee
funds restricted for the purchase of capital assets, and unspent inspections fee revenue
restricted to support the inspection of new construction.
The net investment in capital assets represent 81 percent of net assets at September 30,
2021, as compared to 125 percent at September 30, 2020. These assets are comprised of
land, buildings, improvements, equipment, furniture, and vehicles, net of accumulated
depreciation, and the outstanding related debt used to purchase the assets. The assigned
fund balance of$20,605,388 represents resources available for spending at September 30,
2021. The District currently has $0 fund balance unassigned by the Board.
BRV 5/18/2022 iii
Summary of Revenues, Expenses and Changes in Net Assets
For the Years Ended September 30, 2021 and September 30, 2020
Revenues: 2021 2020
General Revenues
Ad Valorem Taxes $42,755,907 $39,774,303
Program Revenues
Grants 670,881 514,324
Charges for Services 3,394,527 2,307,075
Miscellaneous
Impact Fees 69,729 83,973
Investment Earnings 65,364 372,372
Gain(Loss) on Disposition of
Capital Assets 300,103 35,514
Other financial assistance—CARES Act --- 1,000,000
Reinstatement of deferred revenue
(Sale of Yarberry Lane property) (2,889,872) ---
Other 233,396 233,516
Total Revenues 44,600,035 44,321,077
Expenses:
Public Safety—Fire/Rescue Service 33,193,176 41,925,469
Increase(Decrease) in Net Position 11,406,859 2,395,608
Net Position-Beginning of Year 25,511,294 23,115,686
Net Position-End of Year $36,918,153 $25,511,294
BRV 5/18/2022
1V
The assessed value of the property within the North Naples Service Delivery Area
increased 5.8 percent for the 2020-2021 fiscal year as compared to the prior year's
assessed value while maintaining the millage rate of 1.000 mils, resulting in an increase
in Ad Valorem tax revenues of$2,216,952. The property values in the North Naples
Service Delivery Area decreased by 25 percent during the fiscal years 2007-2012,
resulting in a decrease in Ad Valorem revenue. However,property values have since
increased between 2012 and 2021 and have now exceeded the previous high point in
value during FYE 9-30-07.
The Board adopted a millage rate of 1.000 mils in the North Naples Service Delivery
Area taxing unit, or$1.00 for every$1,000 of taxable property value. This millage rate
was 3.15 percent more than the rolled back rate (the taxing rate necessary to generate the
same Ad Valorem revenue as was generated during the 2019-2020 fiscal year) of.9695.
The assessed value of the property within the Big Corkscrew Island Service Delivery
Area increased 11.0 percent for the 2020-2021 fiscal year as compared to the prior year's
assessed value, resulting in an increase in Ad Valorem tax revenues of$764,652. The
property values in the Big Corkscrew Island Service Delivery Area decreased by 66
percent during the fiscal years 2007-2012, resulting in a decrease in Ad Valorem revenue.
Although property values have increased between 2012 and 2021,property value in the
Big Corkscrew Island Service Delivery Area is still 20 percent lower in FYE 9-30-21
than it was in FYE 9-30-07.
The Board adopted a millage rate of 3.75 mils in the Big Corkscrew Island Service
Delivery Area taxing unit, or$3.75 for every $1,000 of taxable property value. This
millage rate was 11.20 percent more than the rolled back rate (the taxing rate necessary to
generate the same Ad Valorem revenue as was generated during the 2019-2020 fiscal
year) of 3.6193.
Prior to the 2007-2008 fiscal year, the increase in Ad Valorem revenue resulting from the
increase in property value was sufficient to provide adequate funds to support
operational, capital and reserve financial requirements in the District without increasing
the millage rate. While property values have been on the increase over the last few years,
the increases have not been sufficient to prevent the use of reserves to fund capital
purchases.
The following chart identifies the change in appraised property values in the District by
service delivery area and the millage rate maintained by the District.
BRV 5/18/2022 V
North Naples SDA Property Value 2005 - 2021
$40,000,000,000
$35,000,000,000
$30,000,000,000
1
$25,000,000,000
$20,000,000,000
$15,000,000,000
$10,000,000,000
$5,000,000,000
$-
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005
Big Corkscrew SDA Property Value 2005 - 2021
$3,000,000,000
$2,500,000,000
$2,000,000,000
$1,500,000,000
$1,000,000,000
$500,000,000
$-
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005
BRV 5/18/2022 Vi
Fund Balance—Governmental Fund Financial Statements
The Board of Fire Commissioners' directive is to utilize the fund balance and cash
reserves of the General Fund to fund capital purchases and improvements, declared
emergency situations, and to maintain the District's financial position. During the 2018-
2019 fiscal year, the District received reimbursement of$843,685 from FEMA for many
of the Hurricane Irma expenses incurred. During the 2019-2020 fiscal year, the District
received$1,085,818 in reimbursements associated with the COVID-19 pandemic
response. Receipt of these reimbursement funds have been used to replenish the
District's General Fund reserves. At September 30, 2021, the District had General Fund
reserves totaling $20,624,735. This includes the non-spendable amount of$19,347
restricted for prepaid expenses, and$20,605,388 for assigned reserves.
Assigned reserves have been established and maintained in accordance with anticipated
future needs of the District, including operating expenses for the first quarter of the fiscal
year prior to the receipt of Ad Valorem revenue, expenditures associated with declared
emergencies, and the replacement of capital assets. Additionally, increases in health
insurance, and other personnel and operating expenses that require funds to be set aside,
or assigned,to prepare for the funding of future expenditures. The following General
Fund Assigned Reserves were approved for the fiscal year ended September 30, 2021:
Non Spendable Fund Balance Amount
General Fund Prepaid Expenses $ 19,347
Assigned Fund Balance Amount
Operating Reserve— 1st Quarter(Oct-Dec) $ 10,450,482
Emergency Reserve 8,662,235
Health Insurance Claim Reserve 457,671
Roof Replacement 785,000
Fire Apparatus 250,000
Total Assigned Reserves $ 20,605,388
Unassigned Fund Balance Amount
General Fund—Unassigned S 0
Total General Fund Reserves S20,624,735
Impact Fees
With the creation of the North Collier Fire Control and Rescue District in January 2015,
an impact fee study was performed to establish impact fee rates for the new District.
However, that study was not completed and new rates were not adopted until October 1,
2016. Prior year impact fee assessments were based on a structure's square footage. The
new rate structure bases fees on structure usage classifications and the methodology
utilizes population rather than emergency call volume. These rates using the population-
based methodology were updated annually prior to October 1st of each year. However,
the impact of the change in methodology overall resulted in a decrease in impact fee
receipts. Total annual impact fee receipts decreased 66 percent from fiscal year 2015-
2016 to 2019-2020 (from $2,674,309 to $911,074). At the September 24, 2020 Board of
Fire Commissioners meeting,the District approved a new impact fee rate structure
BRV 5/18/2022 Vil
methodology based on an incident-based approach for the demand component rather than
a population-based approach per the impact fee study produced on August 24, 2020.
These new rates per the new rate structure became effective January 1, 2021 via
Resolution 20-022. Total annual impact fee receipts for the current fiscal year totaled
$820,350, which was actually(9.96%) less than the prior year. This is primarily
attributable to the timing of impact-fee eligible projects being paid to the District versus
the change in fee structure. The District still anticipates overall impact fee receipts to
increase over the next few years. Total Impact Fee Fund expenses for the 20-21 fiscal
year were $73,611, consisting of Collier County collection fees and the annual debt
service payment for land purchased in the Big Corkscrew Service Delivery Area. On
March 24, 2021, the District approved the sale of the "Yarberry Lane"property as surplus
land for$3,505,000. Of the $3,152,700 net proceeds received, $2,889,872 was classified
as impact fee deferred revenue while $262,828 was classified as general fund proceeds
from disposition of capital assets revenue.
Inspection Fees
Inspection fee revenue for the year ended September 30, 2021 was $2,640,180
representing an increase of$830,794 or 45.9 percent as compared to inspection fee
revenue in the prior fiscal year(2020). In June of 2014, the District terminated its
Interlocal Agreement with the Fire Code Official's office to provide fire plan review
services and assumed the responsibility for those plan reviews. As a result, $1,124,203 of
the fund's revenue was attributable to plan review fees. The Inspection Fee Fund had
sufficient revenue in the 2020-2021 fiscal year to support all functions associated with
new construction inspections and plan reviews and had excess revenues over
expenditures by $614,811 during the fiscal year. This increase is primarily attributable to
growth momentum in commercial, multi-family construction and similar developments
coming into our District. The timing and driver of this growth is also namely attributable
to the COVID pandemic. Many companies and families relocated to southwest Florida,
and especially Collier County. There were various construction delays, material and
supply-chain constraints during the 2019-2020 fiscal year, which resulted in many of the
projects being implemented in the 2020-2021 fiscal year. Overall, the Board continues to
monitor the volume of new construction projects and the fees necessary to support the
associated costs of this growth.
Budgetary Highlights
Budget versus actual comparisons are reported in the required supplementary information
other than management's discussion and analysis on pages 84 through 96 and are
reflected by taxing subunit(service delivery area).
The amendments to General Fund revenue were necessary to reflect an increase due to a
higher amount of receipts during the fiscal year for capital asset proceeds ($277,000) and
training fees ($10,800), which was included in the original combined budget but not
included in the individual NNSDA and BCSDA budgets. By these amendments, General
Fund revenue was increased by $287,800.
The amendments to the General Fund expenditures were a result of several factors.
Budgeted capital outlay increased overall by$539,174 which included reclassifications
from capital to operating expenses in communication equipment($152,433), HazMat
equipment($14,393) and computer equipment ($144,000) and increasing fire apparatus
by $850,000. Budgeted operating expenses increased overall by$310,826 due to the
BRV 5/18/2022 viii
aforementioned reclassifications from capital to operating expenses. Budgeted personal
expenditures were increased by $277,000 due to the annual PEHP contribution made in
November, 2021 and accrued into FYE 9-30-21.
Capital Assets
Non-depreciable capital assets include land and construction in progress. Depreciable
assets include buildings, improvements other than buildings, equipment, furniture and
vehicles.
The following is a schedule of the District's capital assets as of September 30, 2021 and
2020.
Capital Assets
September 30
Capital Assets 2021 2020
Land $12,823,117 $15,712,989
Construction in Progress 2,513,755 1,319,431
Total Capital Assets not Depreciated 15,336,872 17,032,420
Assets Held Under Capital Lease 5,328,917 4,266,045
Buildings 21,508,194 21,283,328
Office Equipment 1,542,088 1,546,311
Vehicles 8,669,169 8,476,780
Equipment& Machinery 3,725,104 3,941,483
Total Capital Assets Being Depreciated 40,773,472 39,513,947
Accumulated Depreciation
Assets Held Under Capital Lease (1,918,542) (1,412,562)
Buildings (10,000,434) (9,186,739)
Office Equipment (1,090,095) (967,237)
Vehicles (7,435,628) (7,197,089)
Equipment&Machinery (2,805,266) (3,090,173)
Total Accumulated Depreciation (23,249,965) (21,853,800)
Total Capital Assets being Depreciated,
Net 17,523,507 17,660,147
Capital Assets—Net of Depreciation 32,860,379 34,692,567
Less: Capital Lease/Note Payables (3,079,933) (2,718,357)
Net Assets Invested in Capital Assets
Net of Related Debt $29,780,446 $31,974,210
Significant capital asset purchases made during the fiscal year ended September 30, 2021
include:
BRV 5/18/2022 lx
1. Building improvements (General Fund)totaling $240,616 including the Taylor
Rd. site (including the NCFR shop), Station 40, Station 42, Station 43, Station 44,
Station 45, Station 46, Station 42, Station 10 and"Sun Century" site.
2. Vehicles (non-capital lease)totaling $1,323,755 including one (1) Polaris Ranger
ATV, Pumper(46) refurbishment, Pierce Heavy Rescue unit and a progress
payment on the new District Fire Boat(considered Construction in Progress).
3. Fire and Rescue Equipment totaling$1,555,314 including extrication equipment,
an air purification system, fire training programs, (37)new Philips Tempus
monitors (33 being a capital lease purchase), HazMat equipment, etc.
4. Other equipment totaling$50,991 (computer servers,backup server and a
hydraulic drop trailer).
5. No capital impact fee eligible expenditures were made during the fiscal year
ended September 30, 2021.
For additional information on the District's capital assets, see Note E on pages 39 and 40.
Debt Administration
As of September 30, 2021, the District had long term obligations of$17,244,237, as
compared to $34,386,353 at September 30, 2020, a decrease of$17,142,116 or(49.9)
percent. The decrease is largely due to the slight increase in the net OPEB obligation
($750,645) offset with major decreases in the net Pension Liability of the FPT
(Firefighter Pension Trust) and FRS (Florida Retirement System). Additionally,the
District added a capital lease for the purchase of(33) heart monitor during the fiscal year
ended September 30, 2021. That debt consists of:
1. Compensated absences (accrued vacation liability) in the amount of$2,417,328,
as compared to $2,335,073 at September 30, 2020.
2. Net OPEB obligation of$10,730,786 as compared to $9,980,141 at September 30,
2020, representing post-employment health insurance obligations pursuant to
GASB No. 75.
3. Capital lease for fire apparatus, radio equipment, staff vehicles and heart monitor
equipment identified above in the total amount of$2,964,933. This includes the
lease to purchase agreement for the three fire engines and one ladder truck was
entered into on January 15, 2016,the lease to purchase agreement for one velocity
ladder truck was entered into on May 1, 2017,the lease to purchase agreement for
radio equipment which was entered into on May 20, 2019, the lease to purchase
agreement for six(6) Chevrolet staff vehicles which was entered into on
December 12, 2019 and the least to purchase agreement for(33)tempus pro heart
monitors which was entered into on December 28, 2020.
4. Note payable for the purchase of station in the amount of$115,000.
5. Pension liability(FRS) in the amount of$1,486,928 (see Note F).
6. Pension liability(HIS) in the amount of$1,749,993 (see Note F).
7. Pension "asset" (Ch. 175) in the amount of($2,220,733) (see Note F).
BRV 5/18/2022
X
Economic Facts and Next Year's Budget Millage Rates
The following factors were being taken into consideration when the fiscal year ending
September 30, 2022 budget was prepared:
1. Appraised taxable property values increased by$1,392,028,612, or 3.8 percent
for tax year 2021 (FY 2022) in the North Naples service delivery area as
compared to an increase of 5.8 percent in 2020. In the Big Corkscrew service
delivery area, taxable property values increased by$259,539,484, or 12.4 percent
for tax year 2021 (FY 2022), similar to the increase of 11 percent in 2020.
2. The Board adopted a millage rate of 1.000 mils in the North Naples service
delivery area and 3.75 mils in the Big Corkscrew service delivery area for the
fiscal year ending September 30, 2022. The Board believes the increase in
valuation(at the same millage rate) is necessary to compensate for future capital
funding,personnel growth, and unknown, disaster-related expenditures. The
Board has expressed the desire to continue to move towards one unified taxing
rate District wide. However, the alternative addition of a non-ad valorem fire fee
assessment was not approved by local voters as of the November 2017 elections.
Funding mechanisms and millage caps will be analyzed and reviewed by the
District on a regular basis to ensure adequate funding.
3. The Board approved and has budgeted the usage of General Fund reserves
totaling $1,131,833 to balance the budget. This is attributed to various projects
and purchases that the District was not able to make during the past few fiscal
years and is anticipating to complete some of these projects in this budget year.
4. Although appearing to be through the majority of affects due to the COVID-19
pandemic, the District will continue to monitor the overall cost to respond and
will continue to research all avenues for Federal, State, and local funding to
reimburse expenditures.
Request for Information
This financial report is designed to provide the reader an overview of the District.
Questions regarding any information provided in this report should be directed to: Ben
Van Klingeren, Chief Financial Officer, North Collier Fire Control& Rescue District,
1885 Veterans Park Drive,Naples, FL 34109, 239-597-1322, e-mail:
bvanklingeren@northcollierfire.com.
BRV 5/18/2022 Xi
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 5 of 111
STATEMENT OF NET POSITION
September 30,2021 Governmental
Activities
ASSETS
Current assets:
Cash and cash equivalents $ 12,947,420
Restricted cash and cash equivalents 5,178,575
Investments 10,175,383
Due from other governments 1,057,647
Other receivables,net 71,317
Other assets 19,347
Total current assets 29,449,689
Noncurrent assets:
Capital assets:
Land 12,823,117
Construction in progress 1,300,898
Equipment in transit 1,212,857
Depreciable buildings, equipment, and vehicles
(net of$23,249,965 accumulated depreciation) 17,523,507
Total noncurrent assets 32,860,379
TOTAL ASSETS 62,310,068
DEFERRED OUTFLOWS OF RESOURCES 15,168,042
LIABILITIES
Current liabilities:
Accounts payable and accrued expenses 2,631,130
Contract deposits 7,500
Unearned revenue 5,406,693
Current portion of long-term obligations 818,812
Total current liabilities 8,864,135
Noncurrent liabilities:
Noncurrent portion of long-term obligations 16,425,423
TOTAL LIABILITIES 25,289,558
DEFERRED INFLOWS OF RESOURCES 15,270,399
NET POSITION
Net investment in capital assets 29,780,446
Restricted 779,631
Unrestricted(deficit) 6,358,076
TOTAL NET POSITION $ 36,918,153
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 6 of 111
STATEMENT OF ACTIVITIES
Year Ended September 30, 2021
Governmental
Activities
EXPENSES
Governmental Activities
Public Safety-Fire Protection
Personnel services $ 23,808,668
Operating expenses 7,198,009
Depreciation 2,085,276
Interest and fiscal charges 101,223
TOTAL EXPENSES -GOVERNMENTAL ACTIVITIES 33,193,176
PROGRAM REVENUES
Charges for services 3,394,527
Operating grants and contributions 670,881
NET PROGRAM EXPENSES 29,127,768
GENERAL REVENUES
Ad Valorem taxes 42,755,907
Impact fees 69,729
Interest 65,364
Gain on disposition of capital assets 300,103
Reinstatement of unearned revenue-impact fees (2,889,872)
Other 233,396
TOTAL GENERAL REVENUES 40,534,627
INCREASE IN NET POSITION 11,406,859
NET POSITION-Beginning of the year 25,511,294
NET POSITION-End of the year $ 36,918,153
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 7 of 111
BALANCE SHEET-GOVERNMENTAL FUNDS
September 30,2021
Total
General Impact Fee Inspection Fee Governmental
Fund Fund Fund Funds
ASSETS
Cash and cash equivalents $ 12,947,420 $ - $ - $ 12,947,420
Restricted cash and cash equivalents - 4,542,046 636,529 5,178,575
Investments 9,466,103 709,280 - 10,175,383
Due from other governments 736,180 123,936 197,531 1,057,647
Due from other funds 40 16,733 - 16,773
Other receivables,net 71,317 - - 71,317
Prepaid expenses 19,347 - - 19,347
TOTAL ASSETS $ 23,240,407 $ 5,391,995 $ 834,060 $ 29,466,462
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable and accrued expenses $ 2,574,882 $ 1,859 $ 54,389 $ 2,631,130
Retainage payable - - - -
Due to other funds 16,733 - 40 16,773
Contract deposits 7,500 - - 7,500
Unearned revenue 16,557 5,390,136 - 5,406,693
TOTAL LIABILITIES 2,615,672 5,391,995 54,429 8,062,096
FUND BALANCE
Nonspendablc 19,347 - - 19,347
Restricted - - 779,631 779,631
Assigned 20,605,388 - - 20,605,388
Unassigned - - - -
TOTAL FUND BALANCE 20,624,735 - 779,631 21,404,366
TOTAL LIABILITIES AND
FUND BALANCE $ 23,240,407 $ 5,391,995 $ 834,060 $ 29,466,462
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 8 of 111
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL
FUNDS TO THE STATEMENT OF NET POSITION
September 30, 2021
Amount
Total fund balance of governmental funds $ 21,404,366
Amounts reported for governmental activities in the
Statement of Net Position are different because:
Capital assets used in governmental activities are not financial resources
and,therefore,are not reported in the governmental funds.
Capital assets not being depreciated:
Land 12,823,117
Construction in progress 1,300,898
Equipment in transit 1,212,857
15,336,872
Governmental capital assets being depreciated:
Building,equipment and vehicles 40,773,472
Less accumulated depreciation (23,249,965)
17,523,507
Deferred outflows and deferred inflows related to pensions are applied to
future periods and,therefore,are not reported in the governmental funds.
Deferred outflows-Net OPEB Liability 1,401,552
Deferred outflows-FRS/HIS 1,872,126
Deferred outflows-FPT 11,894,364
15,168,042
Deferred inflows-Net OPEB Liability (1,885,947)
Deferred inflows-FRS/HIS (8,298,746)
Deferred inflows-FPT (5,085,706)
(15,270,399)
Long-term obligations are not due and payable in the current period
and,therefore,are not reported in the governmental funds.
Net OPEB liability (10,730,786)
Net pension liability-FRS (1,486,928)
Net pension liability-HIS (1,749,993)
Net pension liability-FPT 2,220,733
Capital leases (2,964,933)
Note payable (115,000)
Compensated absences (2,417,328)
(17,244,235)
Elimination of interfund amounts:
Due to other funds (16,773)
Due from other funds 16,773
Total net position of governmental activities $ 36,918,153
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 9 of 111
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE -GOVERNMENTAL FUNDS
Year Ended September 30, 2021
Total
General Impact Fee Inspection Fee Governmental
Fund Fund Fund Funds
REVENUES
Ad Valorem taxes $ 42,755,907 $ - $ - $ 42,755,907
Intergovernmental revenue:
State firefighter supplement 56,643 - - 56,643
Federal grants 595,438 - - 595,438
Other intergovernmental 18,800 - - 18,800
Charges for services:
Inspection fees and other 755,435 - 1,514,889 2,270,324
Plan review fees - - 1,124,203 1,124,203
Impact fees - 69,729 - 69,729
Miscellaneous:
Interest 60,394 3,882 1,088 65,364
Other 233,396 - - 233,396
TOTAL REVENUES 44,476,013 73,611 2,640,180 47,189,804
EXPENDITURES
Current
Public safety
Personnel services 34,093,661 - 1,913,563 36,007,224
Operating expenditures 7,072,040 14,163 111,806 7,198,009
Capital outlay 3,170,677 - - 3,170,677
Debt service:
Principal reduction 687,498 57,500 - 744,998
Interest and fiscal charges 99,275 1,948 - 101,223
TOTAL EXPENDITURES 45,123,151 73,611 2,025,369 47,222,131
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (647,138) - 614,811 (32,327)
OTHER FINANCING SOURCES AND USES
Proceeds from capital lease 1,106,574 - - 1,106,574
Proceeds from disposition of capital assets 327,820 - - 327,820
Transfers in - - - -
Transfers out - - - -
TOTAL OTHER FINANCING SOURCES
AND USES 1,434,394 - - 1,434,394
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES 787,256 - 614,811 1,402,067
FUND BALANCE-Beginning of the year 19,837,479 - 164,820 20,002,299
FUND BALANCE-End of the year $ 20,624,735 $ - $ 779,631 $ 21,404,366
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 10 of 111
RECONCILIATION OF THE STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCE
OF GOVERNMENTAL FUNDS TO THE STATEMENT
OF ACTIVITIES
Year Ended September 30,2021
Amount
Net change(revenues and other financing sources over(under)expenditures
and other financing uses)in fund balance-total governmental funds $ 1,402,067
The increase(change)in net position reported for governmental activities
in the Statement of Activities is different because:
Governmental funds report capital outlays as expenditures.
In the Statement of Activities,however,the cost of those assets
is allocated over their estimated useful lives and reported as
depreciation expense. The loss on disposition of capital assets
decreases the net position.
Plus:expenditures for capital assets 3,170,677
Less:proceeds on disposition of capital assets (327,820)
Plus:gain on disposition of capital assets 300,103
Less:current year depreciation (2,085,276)
Less:reinstate(replenish)impact fee fund-sale of Yarberry land (2,889,872)
(1,832,188)
The issuance of debt is reported as a financing source in governmental
funds and thus contributes to the change in fund balance. In the
Statement of Net Position,however,issuing debt increases long-term
liabilities and does not affect the Statement of Activities.
Similarly,repayment of principal is an expenditure in the
governmental funds but reduces the liability in the Statement of
Net Position.
Borrowings(proceeds from issuance):
Less:capital lease-heart monitors (1,106,574)
(1,106,574)
Repayments(principal retirement):
Plus:capital leases 687,498
Plus:note payable 57,500
744,998
Some expenses reported in the Statement of Activities do not require the
use of current financial resources and therefore are not reported as
expenditures in the governmental funds.
(Increase)decrease in Net OPEB liability (750,645)
(Increase)decrease in net pension liability-FRS 7,916,491
(Increase)decrease in net pension liability-HIS (13,565)
(Increase)decrease in net pension liability-FPT 10,433,669
(Increase)decrease in compensated absences (82,255)
Increase(decrease)in deferred outflows-OPEB 62,597
(Increase)decrease in deferred inflows-OPEB 340,163
Increase(decrease)in deferred outflows-FRS/HIS (1,746,542)
(Increase)decrease in deferred inflows-FRS/HIS (4,622,575)
Increase(decrease)in deferred outflows-FPT 620,449
(Increase)decrease in deferred inflows-FPT 40,769
12,198,556
Increase in net position of governmental activities $ 11,406,859
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 11 of 111
STATEMENT OF FIDUCIARY NET
POSITION-FIDUCIARY FUND
September 30, 2021
Firefighters'
Pension Trust
Fund
ASSETS
Investments,at fair value:
Cash and cash equivalents -money market $ 1,470,008
Equity securities 93,494,715
Fixed income mutual funds-international 6,474,522
U.S. Government bonds 9,716,593
Corporate bonds 9,271 786
Real estate 7,393,361
127,820,985
Prepaid expenses 1,346
Due from other governments- State -
Due from District 888,111
Due from employees -
Due from securities sold 142,026
Accrued investment income 131,399
TOTAL ASSETS 128,983,867
LIABILITIES
Accounts payable 99,472
Due for securities purchased 386,713
TOTAL LIABILITIES 486,185
NET POSITION
Restricted for DROP benefits 1,670,783
Restricted for defined pension benefits 126,826,899
TOTAL NET POSITION $ 128,497,682
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 12 of 111
STATEMENT OF CHANGES IN FIDUCIARY
NET POSITION- FIDUCIARY FUND
Year Ended September 30, 2021
Firefighters'
Pension Trust
Fund
ADDITIONS
Contributions:
Employer $ 3,606,617
Plan members-employees 1,342,040
Buybacks 26,421
State of Florida, insurance premiums excise tax 1,891,478
Total contributions 6,866,556
Investment income:
Net appreciation(depreciation)including realized gains/losses 18,588,552
Interest and dividends 2,985,821
21,574,373
Less: investment expenses (368,892)
Net investment income(loss) 21,205,481
Other income 17,354
TOTAL ADDITIONS 28,089,391
DEDUCTIONS
Benefits paid 1,157,454
DROP distributions 131,723
Refund of contributions 23,468
Administrative expenses 105,739
TOTAL DEDUCTIONS 1,418,384
NET INCREASE IN NET POSITION 26,671,007
NET POSITION-BEGINNING 101,826,675
NET POSITION-ENDING $ 128,497,682
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 13 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Organization
North Collier Fire Control and Rescue District(the "District") is an independent
special taxing district located in Collier County, Florida. On January 1, 2015, the
North Collier Fire Control and Rescue District was officially formed by merging the
North Naples Fire Control and Rescue District and the Big Corkscrew Island Fire
Control and Rescue District. On February 6, 2014, the two Districts entered into an
Interlocal Agreement to merge. Each Board adopted a resolution identifying their
intent to initiate the voluntary merger process pursuant to Florida Statute Chapter
189.074. The two Districts created a proposed Joint Merger Plan which was
adopted by both Boards and ultimately put before the voters of each District by
referendum. On November 4, 2014, voters from both districts approved the
referendum to merge the two districts into one. On June 10, 2015, the Governor
signed into legislation the official enabling act of the new District via Laws of Florida
(LOF) Chapter 2015-191. The merger is intended to ensure the best possible
emergency response times, operational efficiencies and ensure long term sustainability
of the combined District. There was no impairment of capital assets as the result of
the merger,which was effective as of January 1, 2015 and no significant accounting
adjustment other than to combine the assets, liabilities and net position/fund balance
at January 1, 2015 of both Districts. The District has the general and special powers
prescribed by Florida Statute Chapters 189, 191 and 633.15. The District is
governed by a five (5) member elected Board of Commissioners. Commissioners
serve on a staggered four(4)year term basis.
The North Collier Fire Control and Rescue District provides fire control and
protection services, fire safety, inspections, code enforcement, fire hydrant
maintenance, firefighter training, and crash and fire rescue services as well as basic
and advanced life support services. The District serves a portion of Collier County,
Florida. In providing these services, the District operates and maintains ten(10)
stations and the related equipment and employs approximately 266 full-time
professional firefighters and administrative staff.
During the year ended September 30, 2009, the North Naples Fire Control and
Rescue District entered into a joint venture agreement with Florida SouthWestern
State College(FSW) for the operation of the North Collier Fire Training Center
(NCFTC)to educate and train students as State Certified Firefighters. The North
Collier Fire Control and Rescue District is now licensed to operate the NCFTC and
FSW is the program coordinator. The District provides the training room and training
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 14 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Organization, continued
facilities for the NCFTC. FSW, as program coordinator, is responsible for the
operations of the NCFTC including but not limited to the screening and enrolling of
students and for screening and engaging instructors. Therefore, the activities of the
NCFTC are not included in the District's basic financial statements.
Reporting Entity
The District adheres to Governmental Accounting Standards Board(GASB)
Statement Number 14, "Financial Reporting Entity" (GASB 14), as amended by
GASB Statement Number 39, "Determining Whether Certain Organizations Are
Component Units" (GASB 39) and GASB Statement Number 61, "The Financial
Reporting Omnibus -An Amendment of GASB Statements No. 14 and No. 34"
(GASB 61).
This Statement requires the basic financial statements of the District(the primary
government)to include its component units, if any. A component unit is a legally
separate organization for which the elected officials of the primary government are
financially accountable. Based on the criteria established in GASB 14, as amended,
there are no component units required to be included or included in the District's
basic financial statements.
Government-wide Financial Statements
The government-wide financial statements (i.e., the Statement of Net Position and the
Statement of Activities)report information on all of the activities of the District and do
not emphasize fund types. These governmental activities comprise the primary
government. Fiduciary funds are properly not included in the government-wide
financial statements. General governmental and intergovernmental revenues support
the governmental activities. The purpose of the government-wide financial statements
is to allow the user to be able to determine if the District is in a better or worse
financial position than the prior year. The effect of all interfund activity between
governmental funds has been removed from the government-wide financial
statements.
Government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the pension fund
financial statements. Under the accrual basis of accounting, revenues, expenses,
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 15 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Government-wide Financial Statements, continued
gains, losses, assets, and liabilities resulting from exchange and exchange-like
transactions are recognized when the exchange takes place. Revenues, expenses,
gains, losses, assets, and liabilities resulting from nonexchange transactions are
recognized in accordance with the requirements of GASB Statement Number 33,
"Accounting and Financial Reporting for Nonexchange Transactions" (GASB 33).
Amounts paid to acquire capital assets are capitalized as assets in the
government-wide financial statements rather than reported as expenditures.
Proceeds of long-term debt are recorded as liabilities in the government-wide
financial statements rather than as other financing sources. Amounts paid to reduce
long-term indebtedness of the reporting government are reported as a reduction of
the related liability in the government-wide financial statements rather than as
expenditures.
The Statement of Activities demonstrates the degree to which the direct expenses of
a given function are offset by program revenues. Direct expenses are those that are
clearly identifiable with a specific function or segment. Program revenues include: 1)
charges to customers or applicants who purchase,use, or directly benefit from
goods, services, or privileges provided by a given function, and 2) grants and
contributions that are restricted to meeting the operational or capital improvements of
a particular function. Taxes and other items not properly included among program
revenues are reported instead as general revenues.
Program revenues are considered to be revenues generated by services performed
and/or by fees charged such as inspection fees,burn permits, and hydrant tests.
Fund Financial Statements
The District adheres to GASB Number 54, "Fund Balance Reporting and
Governmental Fund Type Definitions" (GASB 54). Essentially,the implementation
resulted in adoption of a fund balance policy and reclassification of the components
within fund balance.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 16 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Fund Financial Statements, continued
The accounts of the District are organized on the basis of funds, 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 or net position,revenues, and expenditures or expenses, as appropriate.
Government resources are allocated to and accounted for in individual funds based
upon the purpose for which they are to be spent and the means by which spending
activities are controlled.
Fund financial statements for the District's governmental funds are presented after the
government-wide financial statements. These statements display information about
major funds individually and nonmajor funds in aggregate for governmental funds. The
fiduciary fund financial statement includes financial information for the Firefighters'
Pension Trust Fund. The fiduciary fund represents assets held by the District in a
custodial capacity for the benefit of other individuals.
Governmental Funds
When both restricted and unrestricted resources are combined in a fund,
expenditures are considered to be paid first from restricted resources, as appropriate,
and then from unrestricted resources. Governmental fund financial statements are
reported using the current financial resources measurement focus and the modified
accrual basis of accounting. Revenues are considered to be available when they are
collected within the current period or soon thereafter to pay liabilities of the current
period.
The District's major funds are presented in separate columns on the governmental
fund financial statements. The definition of a major fund is one that meets certain
criteria set forth in GASB Statement Number 34, "Basic Financial Statements -and
Management's Discussion and Analysis - for State and Local Governments" (GASB
34). The funds that do not meet the criteria of a major fund are considered
non-major funds and are combined into a single column on the governmental fund
financial statements.
Separate financial statements are provided for governmental funds. Major individual
governmental funds are reported in separate columns on the fund financial statements.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 17 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Governmental Funds, continued
In accordance with the District's enabling documents, separate budgets within the
General Fund are maintained for the North Naples (NN) Service Delivery Area and
the Big Corkscrew Island(BCI) Service Delivery Area. Separate budgets are
required for each service delivery area until such time as when one consistent millage
rate is adopted for both service delivery areas. As such, separate service delivery
area budget vs. actual comparison statements are included in the required
supplementary information and a combining schedule is included in the other
information section as the District must ultimately maintain and report a single General
Fund.
Fiduciary Fund
The Pension Trust Fund accounts for the activities of the Firefighters' Pension Trust
(FPT) Fund, which accumulates resources for the pension benefit payments to
qualified firefighters.
The net position of this fund is not considered to be part of the net position of the
District and is not available to the District's creditors.
Measurement Focus and Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses are
recognized in the accounts and reported in the basic financial statements. Basis of
accounting relates to the timing of the measurements made,regardless of the
measurement focus applied.
The government-wide and fiduciary fund financial statements are reported using the
economic resources measurement focus and the accrual basis of accounting.
Revenues are recorded when earned and expenses are recorded when a liability is
incurred,regardless of the timing of related cash flows. Property taxes are recognized
as revenues in the year for which they are levied. Grants and similar items are
recognized as revenue as soon as all eligibility requirements have been met.
Governmental fund financial statements are reported using the current financial
resources measurement focus and the modified accrual basis of accounting.
Revenues are recognized as soon as they are both measurable and available.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 18 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Measurement Focus and Basis of Accounting, continued
Revenues are considered to be available when they are collectible within the current
period and soon enough thereafter to pay liabilities of the current period. For this
purpose,the District considers tax revenues to be available if they are collected
within sixty days of the end of the current fiscal period.
Revenues susceptible to accrual are interest on investments, and intergovernmental
revenues. Interest on invested funds is recognized when earned. Intergovernmental
revenues that are reimbursements for specific purposes or projects are recognized
when all eligibility requirements are met.
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 long-term debt, if any, is recognized when due; and (2)
expenditures are generally not divided between years by the recording of prepaid
expenditures.
Separate financial statements are provided for governmental funds and the fiduciary
fund, even though the latter are excluded from the government-wide financial
statements.
Non-current Government Assets/Liabilities
GASB 34 requires non-current governmental assets, such as land and buildings, and
non-current governmental liabilities, such as notes payable and capital leases, to be
reported in the governmental activities column in the government-wide Statement of
Net Position.
Major Funds
The District reports the following major governmental funds:
The General Fund is the District's primary operating fund. It accounts for all financial
resources of the District(including both service delivery areas), except those
required to be accounted for in another fund.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 19 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Major Funds, continued
The Impact Fee Fund(the District has one combined Impact Fee Fund) consists of
fees imposed and collected by Collier County based on new construction within each
service delivery area of the District. The fees are restricted and can only be used for
certain capital expenditures associated with growth within the District.
Non-Major Fund
The District reports the following non-major fund:
The Inspection Fee Fund is used by the District to account for the receipt and
expenditures of its Inspection and Plan Review Fee Programs. Fees are charged for
the inspection of new building construction and for fire code plan review. The fees
are collected by Collier County and are remitted to the District. This fund also
includes fee per interlocal agreement whereby the District performs inspections for
another independent fire district.
Fiduciary Fund
The Fiduciary Fund is excluded from the government-wide financial statements
because the resources of those funds are not available to support the District's
programs. The only type of fiduciary fund the District maintains is a Firefighters'
Pension Trust Fund,under Florida Statute Chapter 175,which accounts for
retirement assets held by the Plan that are payable to qualified firefighters upon
retirement.
Budgetary Information
The District has elected to report budgetary comparisons of its major funds and its
non-major fund as required supplementary information(RSI).
Investments
The District adheres to the requirements of GASB Statement Number 31,
"Accounting and Financial Reporting for Certain Investments and for External
Investment Pools," (GASB 31) in which all investments are reported at fair value.
Investments, including restricted investments, consist of certificates of deposit, U.S.
Government securities, corporate debt and equity securities, and securities of
government agencies unconditionally guaranteed by the U.S. Government.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 20 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Capital Assets
Capital assets,which include land, construction in progress,buildings, equipment and
vehicles, are reported in the government-wide Statement of Net Position.
The District follows a capitalization policy which calls for capitalization of all capital
assets that have a cost or donated value of$5,000 or more and have a useful life in
excess of one year.
All capital assets are valued at historical cost or estimated historical cost if actual
historical cost is not available. Donated capital assets are valued at their estimated
fair market value on the date donated. Public domain(infrastructure) capital assets
consisting of certain improvements other than building, including curbs, gutters and
drainage systems, are not capitalized, as the District generally does not acquire such
assets. No debt-related interest expense is capitalized as part of capital assets in
accordance with GASB 34.
Maintenance, repairs and minor renovations are not capitalized. The acquisition of
land and construction projects utilizing resources received from Federal and State
agencies are capitalized when the related expenditure is incurred.
Expenditures that materially increase values, change capacities or extend useful lives
are capitalized. Upon sale or retirement,the cost is eliminated from the respective
accounts.
Expenditures for capital assets are recorded in the fund statements as current
expenditures. However, such expenditures are not reflected as expenditures in the
government-wide statements, but rather are capitalized and depreciated.
Depreciable capital assets are depreciated using the straight-line method over the
following estimated useful lives:
Capital_Asset Years
Buildings 15-30
Capital Assets acquired under Capital Lease 6-10
Office Equipment 3-30
Vehicles 3-10
Equipment and Machinery 3-15
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 21 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Budgets and Budgetary Accounting
The District adopted separate annual General Fund budgets for each of the two (2)
service delivery areas within the District's General Fund.
The District adopted annual budgets for the Special Revenue Funds, including the
Impact Fee Fund and the Inspection Fee Fund.
No budget was adopted or required to be adopted for the Firefighters' Pension Trust
Fund.
The District follows these procedures in establishing budgetary data for the General
Fund, the Impact Fee Fund, and the Inspection Fee Fund:
1. During the summer of each year,the District Fire Chief submits to the Board of
Commissioners a proposed operating budget for the fiscal year commencing on
the upcoming October 1. The operating budget includes proposed
expenditures and the means of financing them.
2. Public hearings are conducted to obtain citizen comments.
3. The budget is adopted by approval of the Board of Commissioners.
4. Budget amounts, as shown in these basic financial statements, are as originally
adopted or as amended by the Board of Commissioners.
5. The budget is adopted on a basis consistent with accounting principles generally
accepted in the United States of America.
6. The level of control for appropriations is exercised at the fund level.
7. Appropriations lapse at year-end.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 22 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Budgets and Budgetary Accounting, continued
Several budget amendments were approved by the Board of Commissioners during
the year ended September 30, 2021. Budgeted revenues and expenditures were
increased(decreased) as follows:
Amount
General fund-NN SDA $ 973,767
General fund-BCI SDA 684,728
Total General Fund $ 1,658,495
Impact fee fund $ 853,218
Inspection fee fund $ 763,514
Impact Fees/Deferred Revenue
The District levies an impact fee on new construction within the District. The intent of
the fee is for growth within the District to pay for capital improvements needed due to
the growth. The fee is imposed and collected by Collier County and remitted to the
District which accounts for impact fees collected by service delivery area. The fee is
refundable if not expended by the District within six (6)years from the date of
collection. The District, therefore,records this fee as restricted cash and as unearned
revenue until the date of expenditure, at which time it is recognized as revenue and
charged to capital outlay in the fund financial statements and capital assets in the
government-wide financial statements.
Net Position
In the government-wide financial statements, net position is identified as restricted
when there are externally imposed constraints as to its use, such as through debt
covenants, by grantors, or by law.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 23 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Fund Balances
The governmental fund financial statements the District maintains include
nonspendable,restricted, assigned, and unassigned fund balances. Nonspendable
fund balances are those that cannot be spent because they are either(a) not in
spendable form or(b) legally or contractually required to be maintained intact.
Criteria include items that are not expected to be converted into cash, for example
prepaid expenses.
Restricted fund balances are those that are restricted by a third party such as
inspection fees. Restricted fund balances can only be spent for the stipulated
purposes.
The District's assigned fund balances are a result of official action of the District's
Board. The District's intent is to maintain a minimum assigned fund balance level of
three (3) months of budgeted total expenditures. The assigned fund balance includes
the District's operational and capital reserves as well as its disaster reserve. At
September 30, 2021, fund balance is also assigned for a variety of specific items by
District Board action. Any use of the assigned fund balance requires the District's
Board approval.
Due To/From Other Funds
Interfund receivables and payables arise from interfund transactions and are recorded
by funds affected in the period in which the transactions are executed.
Due From Other Governments
No allowance for losses on uncollectible accounts has been recorded since the
District considers all amounts to be fully collectible.
Indirect Costs
Expenses are allocated between service delivery areas on the same line item based
upon a Board approved cost allocation plan. For the year ended September 30,
2021, the costs were allocated on a percentage basis of 87.04%to NN SDA and
12.96%to BCI SDA.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 24 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Compensated Absences
The District's employees accumulate annual leave based on the number of years of
continuous service. Upon termination of employment, employees can receive
payment of accumulated annual leave if certain criteria are met. The costs of
accumulated annual leave benefits (compensated absences) are expended in the
respective operating funds when payments are made to employees. However, the
liability for all accrued vacation and personal leave benefits is recorded in the
government-wide Statement of Net Position.
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 District because, at
present, it is not necessary in order to assure effective budgetary control or to
facilitate effective cash planning and control.
Management Estimates
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets, liabilities and
disclosure of contingent assets and liabilities at the date of the financial statements,
and the reported amounts of revenues and expenditures during the reporting period.
Actual results could differ from those estimates.
Interfund Transactions
The District considers interfund receivables (due from other funds) and interfund
payables (due to other funds)to be loan transactions to and from other funds to cover
temporary(three months or less) cash needs. Transactions that constitute
reimbursements to a fund for expenditures/expenses initially made from it that are
properly applicable to another fund are recorded as expenditures/expenses in the
reimbursing funds and as reduction of expenditures/expenses in the fund that is
reimbursed. Such amounts are eliminated in the government-wide financial
statements.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 25 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Pensions
In the government-wide Statement of Net Position, liabilities are recognized for the
District's proportionate share of each pension plan's net pension liability. For
purposes of measuring the net pension liability, deferred outflows of resources and
deferred inflows of resources related to pensions, and pension expense, information
about the fiduciary net position of the Firefighters'Pension Fund(FPF), the Florida
Retirement System(FRS) and the Health Insurance Subsidy (HIS) defined benefit
plan and additions to/deductions from fiduciary net position have been determined on
the same basis as they are reported by the Plans. For this purpose, benefit payments,
(including refunds of employees' contributions) are recognized when due and payable
in accordance with the benefit terms. Investments are reported at fair value for the
FPF.
The District's retirement plans and related amounts are described in a subsequent
note.
Deferred Outflows/Inflows of Resources
In addition to assets, the Statement of Net Position reports a separate section for
deferred outflows of resources. This separate financial statement element, deferred
outflows of resources,represents a consumption of net position that applies to future
periods and so will not be recognized an as outflow of resources
(expense/expenditure)until then. The deferred amount on pensions is reported only
in the government-wide Statement of Net Position. The deferred outflows of
resources related to pensions and OPEB are discussed in a subsequent note.
In addition to liabilities, the Statement of Net Position reports a separate section for
deferred inflows of resources. This separate financial statement element, deferred
inflows of resources, represents an acquisition of net position that applies to a future
period and so will not be recognized as an inflow of resources (revenue)until that
time. The deferred amount on pensions is reported only in the government-wide
Statement of Net Position. A deferred amount on pension results from the difference
in the expected and actual amounts of experience, earnings, and contributions. This
amount is deferred and amortized over the service life of all employees that are
provided with pensions and OPEB through these plans except earnings which are
amortized over five to seven years.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 26 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE A- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Reclassifications
Certain amounts in the financial statements have been reclassed to conform with the
current presentation. These reclassifications had no effect on the results of operations
or fund equity.
Subsequent Events
Subsequent events have been evaluated through May 13, 2022, which is the date the
basic financial statements were available to be issued.
NOTE B - CASH AND CASH EQUIVALENTS
Cash and cash equivalents of the primary government(exclusive of the Firefighters'
Pension Trust Fund)were $18,125,995 of which$5,178,575 was restricted at
September 30,2021. Total cash and cash equivalents included cash on hand of
$1,300 at September 30, 2021.
Deposits
The District's deposit policy (exclusive of the Firefighters' Pension Fund) allows
deposits to be held in demand deposit and money market accounts and is consistent
with Florida Statutes, Chapter 218.415(17). All District depositories are institutions
designated as qualified depositories by the State Treasurer at September 30, 2021.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 27 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE B - CASH AND CASH EQUIVALENTS, CONTINUED
Deposits, continued
Deposits consist of the following at September 30, 2021:
District Carrying Bank
Amount Balance
Unrestricted
General Fund
Depository Accounts $ 12,858,641 $ 13,246,546
Money Market 88,779 88,779
Total General Fund $ 12,947,420 $ 13,335,325
Restricted
General Fund
Depository Accounts $ - $ -
Special Revenue Funds
Impact Fee
Depository Accounts $ 4,542,046 $ 4,542,555
Inspection Fee
Depository Accounts 636,529 636,529
Total Special Revenue Funds 5,178,575 5,179,084
Total Restricted Funds $ 5,178,575 $ 5,179,084
The District's deposits were entirely covered by federal depository insurance or by
collateral pursuant to the Public Depository Security Act(Florida Statute 280) of
the State of Florida. Bank balances approximate market value.
The District held no other types of deposits during the year ended September 30,
2021.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 28 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE B- CASH AND CASH EQUIVALENTS, CONTINUED
Restricted Cash and Equivalents
The following is a brief description of the restrictions on cash and cash equivalents:
The Impact Fee account is used to account for the deposit of impact fees received
by both service delivery areas and are restricted for certain capital asset acquisition
associated with growth within the District. Impact fees are collected by Collier
County for the District pursuant to County ordinance and District resolution.
The Inspection Fee account is used to account for inspection fees collected for
performing new construction fire inspections within the District. Such revenue is
restricted for inspection service related costs.
NOTE C - INVESTMENTS
District
Florida Statutes and the District's investment policy authorize investments in the
Florida Fixed Income Trust(FL FIT). Specifically, the District's investment policy is
consistent with Florida Statutes, Chapter 218.415(17). At September 30, 2021, the
District's investments in the FL FIT-Cash Pool (CP) consist of the following:
Fair Value(NAV)/
Cost Carrying
Basis Amount
General Fund-NN
Florida Fixed Income Trust
FL FIT-Cash Pool(CP) $ 7,457,701 $ 7,457,701
General Fund-BCI
Florida Fixed Income Trust
FL FIT-Cash Pool(CP) 2,008,402 2,008,402
$ 9,466,103 $ 9,466,103
Impact Fee Fund
Florida Fixed Income Trust
FL FIT-Cash Pool(CP) $ 709,280 $ 709,280
Total investments $ 10,175,383 $ 10,175,383
The Florida Fixed Income Trust(FL FIT) Cash Pool (CP)was established in
accordance with Florida Statute 163.01 to provide local and state government entities
access to diversified,high credit quality strategies for their cash reserves. The Florida
Fixed Income Trust(FL FIT) Cash Pool is a floating net asset value (NAV)pool,
managed to dollar-in/dollar-out and provides same day liquidity for participants.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 29 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
District, continued
The Florida Fixed Income Trust(FL FIT) Cash Pool (CP) is an external 2a7-like
investment pool, which is self administered. The Florida Fixed Income Trust(FL
FIT) Cash Pool (CP) is not categorized as it is not evidenced by securities that exist
in physical or book entry form. The Florida Fixed Income Trust(FL FIT) Cash Pool
are stated at a net asset value (NAV) which approximates fair value,NAV=$1.00.
These investments are subject to the risk that the market value of an investment,
collateral protecting a deposit or securities underlying an investment will decline and
lose value.
FL FIT is not required to register(and has not registered)with the SEC; however,
the fund is an external investment pool that has historically adopted operating
procedures consistent with those required by Florida Statutes.
The District's investment in the Florida Fixed Income Trust(FL FIT) Cash Pool(CP)
represented approximately less than 1% of the Fund's total investments.
At September 30, 2021,the Cash Pool's investments consisted of the following: 62%
with commercial paper; 17%with institutional money market deposits and mutual
funds; and 21%with certificates of deposit.
These short-term investments are stated at fair value. Investment income is recognized
as earned and is allocated to participants of the Fund based on their equity
participation.
The District adheres to GASB Statement No. 79 and where the Fund meets the
criteria to make GASB Statement No. 31 which requires the following disclosures
related to its FL FIT Cash Pool investment:
Limitation on Participant Contributions and Withdrawals: FL FIT-Cash Pool has no
limitations or restrictions on participant withdrawals,does not charge liquidity fees,
and has not put in place a redemption gate. Each participant has the ability to
withdraw 100 percent of its account balance any business day that the Investment
Advisor is open for trading.The Investment Advisor is open for trading, and the
funds will settle on the trading date for trades placed prior to 2:00 PM Eastern
Time,and trade date plus one business day(T+1)for trades placed after 2:00 PM
Eastern Time.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 30 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
District, continued
Investment Income, Unrealized Gains/Losses, and Realized Gains/Losses: FL
FIT-Cash Pool follows industry practice and records security transactions on a
trade date basis. Dividend and interest income is recognized on an accrual
basis. Net investment income is distributed to participants at least monthly.
Unrealized and realized gains and losses, if any, are distributed to participants
on a daily and monthly basis. Distributions to participants are recorded on the
ex-dividend date.
Valuation: Fair value of the investments in the FL FIT-Cash Pool is determined
on a daily basis. Fair value increases and decreases are included in the change
in unrealized gains and losses during the period. Net realized gains and losses
on sales of securities are computed based on specific identification. Mutual fund
securities are recorded at fair value as determined by using net position value as
furnished by a pricing service and the number of shares owned.
Redemption Gates: Per the Administrator there are no redemption gates.
Liquidity Fees: Per the Administrator there are no liquidity fees.
Redemption Fees: As of September 30, 2021, there were no redemption fees
or maximum transaction amounts, or any other requirements that serve to limit
a participant's daily access to 100 percent of their account value.
Fair Value: The carrying value of the investments held by the District
approximate fair value. However, it is the opinion of the management of Florida
Fixed Income Trust (FL FIT) it is exempt from GASB Statement No.72
financial hierarchy disclosures.
Foreign Currency Risk: Florida Fixed Income Trust(FL FIT) Cash Pool was
not exposed to foreign currency risk.
Securities Lending: Florida Fixed Income Trust(FL FIT) Cash Pool did not
participate in securities lending program during the period October 1, 2020
through September 30, 2021.
Florida Fixed Income Trust(FL FIT) Cash Pool does provide separate audited
financial statements for the year ended June 30, 2021.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 31 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
District, continued
At September 30, 2021, the District reported Florida Fixed Income Trust(FL FIT)
Cash Pool investments of$10,175,383. The Florida Fixed Income Trust(FL FIT)
Cash Pool carried a credit rating of AAAf/S 1 by Fitch Rating and had a dollar
weighted average days to maturity(WAM) of 79 days at September 30, 2021. The
Cash Pool 's current dollar weighted average days to maturity to final(WAL)was
104 days at September 30, 2021. The Cash Pool's duration is as follows: expected
target duration 0-5 years, effective duration of 22 years. Rule 2a7 allows funds to
use a constant of$1.00 per share. The fund is not currently rated.
Firefighters' Pension Plan-Investments
Investments held in the Firefighters' Pension Trust Fund(the "Plan")totaled
$127,820,985 (including $1,470,008 in cash and cash equivalents, $6,474,522 in
mutual funds, $93,494,715 in equity securities, $18,988,379 in fixed income
securities, and$7,393,361 in real estate) at September 30, 2021. Such investments
are administered in accordance with Firefighters'Pension Board policy. This policy
provides for investments in cash and cash equivalents,money markets,mutual funds,
equities, treasury notes, federal agency guaranteed securities, corporate bonds, notes
and/or equities and real estate.
The Firefighters' Pension Trust Fund accounts for resources held to fund the
respective firefighter employee pension benefits.
The Firefighters' Pension Trust Fund investments were held by a financial and
investment institution and are subject to certain insurances up to limits specific to the
trustee/custodian institution and retirement trust funds. These assets are subject to
loss of principal.
Investment Authorization:
The Plan's investment policy is determined by the Plan's Board of Trustees. The
policy has been designed by the Board to conduct the operations of the Plan in a
manner so that the assets will provide the pension and other benefits provided under
applicable laws. As such, the policy is designed by the Board to maximize the Plan's
asset value,while assuming risk that is consistent with the Board's risk tolerance. The
Trustees are authorized to acquire and retain every kind of property (real,personal or
mixed) and every kind of investment specifically including,but not by way of
limitation, money markets,mutual funds,bonds, debentures, stocks (preferred or
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 32 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan - Investments, continued
Investment Authorization, continued:
common) and other corporate obligations. Investments are carried at fair value
and/or NAV at September 30, 2021. Interest and dividend revenues are recorded
as earned. Purchases and sales of investments are recorded on the trade-date basis.
Unrealized gains and losses are presented as net appreciation(depreciation) in fair
value of investments on the statement of changes in fiduciary net position along with
gains and losses realized on sales of investments.
Given the inherent nature of investments, it is reasonably possible that changes in the
value of those investments will occur in the near term and that such changes could
materially affect the amounts reported(loss of principal).
Investment in all equity securities shall be limited to those listed on a major U.S. stock
exchange and limited to no more than 80% (at market) of the Plan's total asset value.
The equity position in any one company shall not exceed 5% of the Plan's total assets
at market. Investments in stock of foreign companies shall be limited to 35% of the
value of the Plan's total assets at market.
The fixed income portfolio shall be compromised of securities with a quality rating of
investment grade or higher by a major rating service. Except for Treasury and
Agency obligations, the debt portion of the Plan shall contain no more than 10% of a
given issuer irrespective of the number of differing issues.
The current target allocation at September 30, 2021, of these investments at market
is as follows:
Investment Long Term
Authorized Policy-Target Expected Real
Investments Allocation% Rate Return%
Domestic Equities 35-55% 7.5%
Fixed Income 15-40% 2.5%
TIPS 0-10% Not Available
Real Estate 0-15% 4.5%
International Equities 10-25% 8.5%
International Fixed Income 0-10% 3.5%
Global Tactical Asset Allocation 0-15% 3.5%
Cash and Cash Equivalents Minimal Minimal
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 33 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan - Investments, continued
Interest Rate Risk:
Interest rate risk is the risk that changes in market interest rates will adversely affect the
fair value of an investment. Generally,the longer the maturity of an investment,the
greater the sensitivity of its fair value to change in market interest rates. As a means of
limiting its exposure to interest rate risk,the Plan diversifies its investments by security
type and institution, and limits holdings in any one type of investment with any one
issuer with various durations of maturities.
Information about the sensitivity of the fair values of the Plan's fixed income
investments to market interest rate fluctuations is provided by the following table that
shows the distribution of the Plan's investment by maturity at September 30, 2021:
Investment Maturities(in years)
Investment Type Fair Value Less than 1 1 to 5 6 to 10 More than 10
Corporate bonds $ 9,271,786 $ 848,000 $ 2,797,104 $ 3,778,892 $ 1,847,790
Mutual funds-Int'l 6,474,522 332,144 969,883 679,177 4,493,318
U.S.Agencies 6,535,466 - 2,966 86,040 6,446,460
U.S.Treasuries 3,181,127 - 149,492 899,509 2,132,126
$ 25,462,901 $ 1,180,144 $ 3,919,445 $ 5,443,618 $ 14,919,694
Credit Risk:
Credit risk is the risk that a security or a portfolio will lose some or all of its value due
to a real or perceived change in the ability of the issuer to repay its debt. The Plan's
investment policy utilizes portfolio diversification in an effort to mitigate this risk.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 34 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan - Investments, continued
Credit Risk, continued:
The following table discloses credit rating by fixed income investment type at
September 30, 2021, if applicable:
Fair Percentage of
Value Portfolio
Quality rating of credit risk debt securities
A $ 1,556,475 1.22%
Al 260,843 0.20%
A2 1,361,582 1.07%
A3 2,189,478 1.71%
AA 988,660 0.77%
Aal 58,438 0.05%
Aa2 166,499 0.13%
Aa3 136,681 0.11%
AAA 6,071,751 4.75%
B 163,805 0.13%
Bal 29,787 0.02%
Baal 2,462,988 1.93%
Baa2 1,533,765 1.20%
Baa3 896,784 0.70%
BB 396,888 0.31%
BBB 1,733,877 1.36%
Unrated government securities* 5,454,600 4.27%
Total credit risk debt securities $ 25,462,901 19.92%
* Obligations of the U.S. government or obligations explicitly guaranteed by the U.S.
government are not considered to have credit risk and do not have purchase limitations.
Concentration of Credit Risk:
The investment policy of the Plan contains limitations on the amount that can be
invested in any one equity issuer as well as maximum portfolio allocation percentages.
There were no individual equity investments that represented 5% or more of Plan net
position at September 30, 2021. In addition,the Plan contains limitations on the
amount that can be invested in any one debt issuer, except for the debt securities
issued by the U.S. Government. There were no investments in non-U.S. Government
debt securities that represented 10% or more of Plan net position at September 30,
2021.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 35 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan - Investments, continued
Custodial Credit Risk:
This is the risk that in the event of the failure of the counterparty,the plan will not be
able to recover the value of its investments or collateral securities that are in the
possession of an outside party. This risk is generally measured by the assignment of a
rating by a nationally recognized statistical rating organization. Consistent with the
Plan's investment policy, the investments are held by the Plan's custodial bank and
registered in the Plan's name.
Foreign Currency Risk:
This is the risk that fluctuations in currency exchange rate may affect transactions
conducted in currencies other than U.S. Dollars and the carrying value of foreign
investments. The Plan's primary exposure to foreign currency risk is derived from its
direct investments in international equity and fixed income mutual funds. The Plan
owns shares in international equity and international bond funds. In accordance with
the Plan's investment policy statement, the US equity and fixed income separate
account managers may invest in individual securities designated as foreign as part of
the normal course of the investment process. The individual foreign securities may be
American Depository Receipts, or NYSE common stock, both transacted in US
dollars, or foreign ordinary securities transacted in foreign currency. The investment
policy limits the foreign investments to no more than 35% of the Plan's investment
balance in equities and no more than 10% in fixed income. As of September 30,
2021, the Plan's exposure to foreign currency risk related to foreign equity funds and
bonds is approximately 23% of the portfolio.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 36 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan-Investments, continued
Fair Value Measurements:
Fair value is defined as the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the
measurement date. The Plan categorizes its fair value measurements within the fair
value hierarchy as established by generally accepted accounting principles. The fair
value hierarchy categorizes the inputs to valuation techniques used to measure fair
value into three levels based on the extent to which inputs used in measuring fair value
are observable in the market as follows:
Level 1 -Inputs to the valuation methodology are based upon quoted prices for
identical assets in active markets.
Level 2 - Inputs to the valuation methodology are based upon observable inputs for
the assets either directly or indirectly, other than those considered Level 1 inputs.
which may include quoted prices for identical assets in markets that are not
considered to be active, and quoted prices of similar assets in active or inactive
markets.
Level 3 - Inputs to the valuation methodology are based upon unobservable inputs.
Following is a description of the valuation methodologies used for asset measured at
fair value.
Common stock: Valued at the closing price reported on the New York Stock
Exchange.
Government securities: Valued using pricing models maximizing the use of
observable inputs for similar securities.
Mutual funds: Valued at the daily closing price as reported by the Plan. Mutual
funds held by the Plan are open-ended mutual funds that are registered with the
Securities and Exchange Commission. These funds are required to publish their
daily net asset value (NAV) and to transact at that price. The mutual funds held
by the Plan are deemed to be actively traded.
Corporate bonds: Valued using pricing models maximizing the use of observable
inputs for similar securities. This includes basing the value on yields currently
available on comparable securities of issuers with similar credit ratings. When
quoted prices are not available for identical or similar bonds, the bond is valued
under a discounted cash flows approach that maximizes observable inputs, such
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 37 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan-Investments, continued
Fair Value Measurements, continued:
as current yield of similar instruments,but included adjustments for certain risks
that may not be observable, such as credit and liquidity risks or a broker quote, if
available.
Real estate: Valued at the net asset value of shares held by the Plan at year end.
The Plan has investments in private market real estate investments for which no
liquid public market exists.
Money market funds: Valued at the floating net asset value (NAV) of shares held
by the Plan at year end.
The following table presents the Plan's fair value hierarchy for investments at fair
value as of September 30, 2021:
Fair Value Measurements Using
Quoted
Prices in Significant
Active Other Significant
Markets for Observable Unobservable
Identical Assets Inputs Inputs
Total (Level I) (Level 2) (Level 3)
Investments by fair value level
Equity securities:
Common stocks $ 28,213,370 $ 28,213,370 $ - $ -
Foreign stocks 2,791,218 2,791,218 - -
Domestic equity mutual funds 43,552,745 - 43,552,745 -
International equity mutual funds 18,937,382 - 18,937,382 -
REIT - - - -
Total equity securities 93,494,715 31,004,588 62,490,127 -
Debt securities
U.S.treasury securities 3,181,127 3,181,127 - -
U.S.agency securities 6,535,466 - 6,535,466 -
Corporate bonds 9,271,786 - 9,271,786 -
Fixed income mutual funds-int'l 6,474,522 - 6,474,522 -
Total debt securities 25,462,901 3,181,127 22,281,774 -
Total investments by fair value 118,957,616 $ 34,185,715 $ 84,771,901 $ -
Investments measured at the net asset value(NAV
Real estate fund 7,393,361
Money market funds(exempt) 1,470,008
Total investments $ 127,820,985
* As required by GAAP,certain investments have not been classified in the fair value hierarchy. The fair
value amounts presented in the previous table are intended to permit reconciliation for the fair value
hierarchy to the total investment line item in the Statement of Fiduciary Net Position.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 38 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE C - INVESTMENTS, CONTINUED
Firefighters' Pension Plan-Investments,continued
Fair Value Measurements, continued:
The following table summarizes investment for which fair value is measured using the
net asset value per share practical expedient, including their relate unfunded
commitments and redemption restrictions:
Investments measured at the NAV
Redemption
Unfunded Frequency(if Redemption
Fair Value Commitments Currently Eligible Notice Period
Real estate fund $ 7,393,361 $ - Quarterly 90 Days
Real estate fund: The fund is an open-ended real estate investment fund investing
primarily in core institutional office,retail, industrial, and multi-family properties
located throughout the United States. The investment is valued at NAV and its
redemption must be received by the fund 90 days prior to quarter end.
NOTE D - DUE TO/FROM OTHER FUNDS
Interfund receivables and payables at September 30, 2021, are as follows:
Due from Due to
Fund Other Funds Other Funds
General Fund:
Impact Fee Fund $ - $ 16,733
Inspection Fee Fund 40 -
Total General Fund 40 16,733
Special Revenue Funds:
Impact Fee Fund
General Fund 16,733 -
Inspection Fee fund - -
Inspection Fee Fund
General Fund - 40
Impact Fee Fund - -
Total Special Revenue Funds 16,733 40
Total $ 16,773 $ 16,773
Interfund receivables and payables were eliminated for presentation purposes in the
Statement of Net Position at September 30, 2021.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 39 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE E - CAPITAL ASSETS ACTIVITY
The following is a summary of changes in capital assets activity for the year ended
September 30, 2021:
Balance Balance
October 1 Increases/ Decreases/ Adjustments/ September 30
2020 Additions Retirements Reclassifications 2021
Capital Assets Not
Being Depreciated:
Land $ 15,712,989 $ - $(2,889,872) $ - $ 12,823,117
Construction in progress 1,319,431 - (18,533) - 1,300,898
Equipment in Transit - 1,212,857 - - 1,212,857
Total Capital Assets Not
Being Depreciated 17,032,420 1,212,857 (2,908,405) - 15,336,872
Capital Assets
Being Depreciated:
Assets held under capital lease 4,266,045 1,106,574 (43,702) - 5,328,917
Buildings 21,283,328 224,866 - - 21,508,194
Office equipment 1,546,311 50,991 (55,214) - 1,542,088
Vehicles 8,476,780 294,685 (102,296) - 8,669,169
Equipment&machinery 3,941,483 280,704 (497,083) - 3,725,104
Total Capital Assets
Being Depreciated 39,513,947 1,957,820 (698,295) - 40,773,472
Less Accumulated
Depreciation:
Assets held under capital lease (1,412,562) (549,682) 43,702 - (1,918,542)
Buildings (9,186,739) (813,695) - - (10,000,434)
Office equipment (967,237) (178,072) 55,214 - (1,090,095)
Vehicles (7,197,089) (334,457) 95,918 - (7,435,628)
Equipment&machinery (3,090,173) (209,370) 494,277 - (2,805,266)
Total Accumulated Depreciation (21,853,800) (2,085,276) 689,111 - (23,249,965)
Total Capital Assets being
Depreciated,Net 17,660,147 (127,456) (9,184) - 17,523,507
Capital Assets,Net $ 34,692,567 $ 1,085,401 $ (2,917,589) $ - 32,860,379
Related Debt (3,079,933)
Net investment in capital assets $29,780,446
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 40 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE E - CAPITAL ASSETS ACTIVITY, CONTINUED
Depreciation expense was charged to the following functions during the year ended
September 30,2021:
Amount
General Government
Total Depreciation Expense $2,085,276
The District has capital assets held under capital leases with a total cost of
$5,328,917 at September 30,2021. The capital assets held under capital lease has
accumulated depreciation of$1,918,542 and depreciation expense of$549,682
(included in total depreciation expense)for the year ended September 30,2021.
NOTE F- LONG-TERM OBLIGATIONS
The following is a summary of changes in long-term obligations for the year ended
September 30,2021:
Balance Retirements Balance Amounts
October 1 And September 30 Due Within
2020 Additions Adjustments 2021 One Year
Net OPEB Liability $ 9,980,141 $ 750,645 $ - $10,730,786 $Net Pension Liability-FRS 9,403,419 - (7,916,491) 1,486,928 Net Pension Liability-HIS 1,736,428 13,565 - 1,749,993 Net Pension Liability-FPT 8,212,936 - (10,433,669) (2,220,733) -
Capital Leases 2,545,857 1,106,574 (687,498) 2,964,933 761,312
Note Payable-Station 172,500 - (57,500) 115,000 57,500
Compensated Absences 2,335,073 82,255 - 2,417,328 -
$34,386,354 $ 1,953,039 $(19,095,158) $17,244,235 $ 818,812
The following is a summary of long-term obligations at September 30, 2021:
Amount
Net OPEB liability-actuarially determined-GASB No.75 $ 10,730,786
Net pension liability-FRS pension plan. This amount is actuarially determined
through calculation based upon the audited financial statements of the Florida FRS
Plan. 1,486,928
Net pension liability-HIS plan. This amount is actuarially determined through
calculation based upon the audited financial statements of the Florida FRS Plan. 1,749,993
Net pension liability-Firefighters'Pension Trust(FPT)plan. This
amount is actuarially determined through calculation based upon the audited
financial statements of the FPT Plan. (2,220,733)
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 41 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE F- LONG-TERM OBLIGATIONS, CONTINUED
Amount
$1,106,574 capital lease payable dated December 28,2020,for heart monitor
equipment to a financial institution over a 60 month period beginning December
28,2020 and ending December 28,2025 in equal monthly payments of$19,347 at 1.9% 947,210
$445,486 capital lease payable dated May 20,2019,for radio equipment to
a financial institution over a 7 year period ending June 1,2026 in equal
annual payments of$77,900 at a 5.2%fixed interest rate. 334,252
$207,812 capital lease payable dated December 12,2019,for six staff vehicles to
a financial institution over a 5 year period ending December 31,2024 in equal
monthly payments of$3,918 at a 5.14%fixed interest rate. 137,136
$2,546,268 capital lease payable dated January 15,2016 for one(1)ladder
truck and three(3)pumper trucks payable to a financial institution in ten
(10)annual payments of$295,233 ending December 14,2025 including
interest at 2.822%. 1,358,975
$888,147 capital lease payable beginning May 1,2018 for a ladder truck
payable to a financial institution in five(5)annual payments of$192,494
ending May 1,2022 including interest at 2.74%. 187,360
$1,150,000 note payable dated January 15,2003 for BC!Station to a financial
institution over a 20 year period ending November 1,2022 in equal annual principal
payments on November 1 of$57,500 plus accrued interest at a variable rate of
120%of the 5 year treasury rate.The note is collateralized by Impact Fees.
Interest rate at September 30,2021 was.42732%. 115,000
Non-current portion of compensated absences. Employees of the District
are entitled to paid vacation based on length of service and job
classification.(Combined SDA) 2,417,328
17,244,235
Less Current Portion (818,812)
Long-Term Portion $ 16,425,423
The annual debt service requirements at September 30,2021,were as follows:
Capital Capital Capital Capital Capital Note
Years Ending Leases Payable Leases Payable Leases Payable Leases Payable Leases Payable Payable Total
September 30 Principal(1) Principal(1) Principal(1) Principal(1) Principal(1) Principal(2) Principal
2022 $ 216,047 $ 60,099 $ 40,925 $ 256,881 $ 187,360 $ 57,500 $ 818,812
2023 220,188 63,299 43,079 264,131 - 57,500 648,197
2024 224,408 66,671 45,346 271,585 - - 608,010
2025 228,709 70,221 7,786 279,249 - - 585,965
2026 57,858 73,962 - 287,129 - - 418,949
$ 947,210 $ 334,252 $ 137,136 $ 1,358,975 $ 187,360 $ 115,000 3,079,933
Net OPEB Liability 10,730,786
Net Pension Liability-FRS 1,486,928
Net Pension Liability-HIS 1,749,993
Net Pension Liability-FPT (2,220,733)
Compensated absences 2,417,328
Total long-term debt $ 17,244,235
(1)Debt service paid through General Fund
(2)Debt service paid through Impact Fee Fund
Interest expense for the year ended September 30,2021,was$101,223 including interest expense on capital
leases of$99,275.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 42 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS
The following three retirement plans have been established by the District:
Plan 1 - Florida Retirement System(FRS) including HIS
Plan 2 -Firefighters' Pension Trust Fund (Florida Statute 175)
Plan 3 -401(a) Plan
Employee participation in a specific plan is based on the respective employee's
original hire date.
General Information about the Florida Retirement System
The Florida Retirement System("FRS") was created in Chapter 121, Florida
Statutes. The FRS was created to provide a defined benefit pension plan("Pension
Plan") for participating public employees. All District employees are participants in
the Statewide Florida Retirement System(FRS)under authority of Article X, Section
14 of the State Constitution and Florida Statutes, Chapters 112 and 121. The FRS
was amended in 1998 to add the Deferred Retirement Option Program("DROP")
under the defined benefit plan and amended in 2000 to provide an integrated defined
contribution plan alternative to the defined benefit plan for FRS members effective
July 1, 2002. This integrated defined contribution pension plan is the FRS Investment
Plan. Chapter 112, Florida Statutes, established the Retiree Health Insurance
Subsidy (HIS) Program, a separate cost-sharing,multiple-employer defined benefit
pension plan to assist retired members of any State-administered retirement system in
paying the costs of health insurance.
Essentially all regular employees of the District are eligible to enroll as members of the
State-administered FRS except those already participating in Plan 2. Provisions
relating to the FRS are established by Chapters 121 and 122, Florida Statutes;
Chapter 112, Part IV, Florida Statutes; Chapter 238, Florida Statutes; and Florida
Retirement System Rules, Chapter 60S, Florida Administrative Code; wherein
eligibility, contributions, and benefits are defined and described in detail. Such
provisions may be amended at any time by further action from the Florida Legislature.
The FRS is a single retirement system administered by the Florida Department of
Management Services, Division of Retirement, and consists of two cost-sharing,
multiple-employer defined benefit plans (Pension and HIS Plans)and other
nonintegrated programs. A comprehensive annual financial report of the FRS, which
includes its financial statements,required supplementary information, actuarial report,
and other relevant information dated June 30, 2021, is available from the Florida
Department of Management Services'Website (www.dms.myflorida.com).
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 43 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
General Information about the Florida Retirement System, continued
The District's total FRS and HIS pension expense (credit) was ($634,472) for the year
ended September 30, 2021 and is recorded in the government-wide financial
statements. Total District actual FRS and HIS retirement contribution expenditures
were $899,337, $833,435 and$954,512 for the years ended September 30,
2021, 2020 and 2019, respectively. The District contributed 100% of the required
contributions.
FRS Pension Plan
Plan Description. The FRS Pension Plan("Plan") is a cost-sharing, multiple-
employer defined benefit pension plan,with a Deferred Retirement Option Program
(DROP) for eligible employees. The general classes of membership are as follows:
Regular Class-Members of the FRS who do not qualify for membership in the
other classes.
Senior Management Service Class(SMSC)-Members in senior management
level positions.
Special Risk Class-Members who are employed as certified firefighters and
meet the criteria to qualify for this class.
Elected Officials-Members who are elected by the voters within the District
boundaries.
Employees enrolled in the Plan prior to July 1, 2011, vest at six years of creditable
service and employees enrolled in the Plan on or after July 1, 2011, vest at eight
years of creditable service. All vested members, enrolled prior to July 1, 2011, are
eligible for normal retirement benefits at age 62 or at any age after 30 years of
service, except for those members classified as special risk who are eligible for
normal retirement benefits at age 55 or at any age after 25 years of service. All
members enrolled in the Plan on or after July 1, 2011, once vested, are eligible for
normal retirement benefits at age 65 or any time after 33 years of creditable service,
except for members classified as special risk who are eligible for normal retirement
benefits at age 60 or at any age after 30 years of service. Members of both Plans
(Pension and HIS) may include up to 4 years of credit for military service toward
creditable service. The Plan also includes an early retirement provision; however,
there is a benefit reduction for each year a member retires before his or her normal
retirement date. The Plan provides retirement, disability, death benefits, and annual
cost of living adjustments to eligible participants.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 44 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS Pension Plan, continued
DROP, subject to provisions of Section 121.091, Florida Statutes,permits
employees eligible for normal retirement under the Plan to defer receipt of monthly
benefit payments while continuing employment with an FRS employer. An employee
may participate in DROP for a period not to exceed 60 months after electing to
participate. During the period of DROP participation, deferred monthly benefits are
held in the FRS Trust Fund and accrue interest. The net pension liability does not
include amounts for DROP participants, as these members are considered retired and
are not accruing additional pension benefits.
Benefits Provided. Benefits under the Plan are computed on the basis of age,
and/or years of service, average final compensation, and credit service. Credit for
each year of service is expressed as a percentage of the average final compensation.
For members initially enrolled before July 1, 2011,the average final compensation is
the average of the five highest fiscal years' earnings; for the members initially enrolled
on or after July 1, 2011, the average final compensation is the average of the eight
highest fiscal years' earnings. The total percentage value of the benefit received is
determined by calculating the total value of all service, which is based on retirement
plan and/or the class to which the member belonged when the service credit was
earned. Members are eligible for in-line-of-duty or regular disability and survivors'
benefits. The following chart shows the percentage value of each year of service
credit earned:
Class,Initial Enrollment,and Retirement Age/Years of Service %Value
Regular Class and elected members initially enrolled before July 1,2011
Retirement up to age 62,or up to 30 years of service 1.60
Retirement at age 63 or with 31 years of service 1.63
Retirement at age 64 or with 32 years of service 1.65
Retirement at age 65 or with 33 or more years of service 1.68
Regular Class and elected members initially enrolled on or after July 1,2011
Retirement up to age 65 or up to 33 years of service 1.60
Retirement at age 66 or with 34 years of service 1.63
Retirement at age 67 or with 35 years of service 1.65
Retirement at age 68 or with 36 or more years of service 1.68
Special Risk Regular
Service from December 1, 1970 through September 30, 1974 2.00
Service on or after October 1, 1974 3.00
Senior Management Service Class 2.00
Elected Officers'Class 3.00
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 45 of 11 1
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS Pension Plan, continued
As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in
the FRS before July 1, 2011, and all service credit was accrued before July 1, 2011,
the annual cost-of-living adjustment is 3 percent per year. If the member is initially
enrolled before July 1, 2011, and has service credit on or after July 1,2011,there is
an individually calculated cost-of-living adjustment. The annual cost-of-living
adjustment is a proportion of 3 percent determined by dividing the sum of the
pre-July 2011 service credit by the total service credit at retirement multiplied by 3
percent. Plan members initially enrolled on or after July 1, 2011,will not have a
cost-of-living adjustment after retirement.
Contributions. The Florida Legislature establishes contribution rates for
participating employers and employees. Contribution rates during the year ended
September 30, 2021 were as follows:
Percent of Gross Salary*
Class Employee Employer(1) Employer(3)
Florida Retirement System,Regular 3.00 10.00 10.82
Florida Retirement System,Senior Management Service 3.00 27.29 29.01
Florida Retirement System,Special Risk 3.00 24.45 25.89
Deferred Retirement Option Program-Applicable
to Members from All of the Above Classes 0.00 16.98 18.34
Florida Retirement System,Reemployed Retiree (2) N/A N/A
Florida Retirement System,Elected Official 3.00 49.18 51.42
Notes:
(1) Employer rates include 1.66 percent for the post employment health insurance subsidy. Also,
employer rates,other than for DROP participants,include.06 percent for administrative costs for
the Investment Plan. Rates for 7/1/20-6/30/21.
(2) Contribution rates are dependent upon retirement class in which reemployed.
(3) Employer rates include 1.66 percent for the post employment health insurance subsidy. Also,
employer rates,other than for DROP participants,include.06 percent for administrative costs for
the Investment Plan. Rates for 7/1/21-6/30/22.
* As defined by the Plan.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 46 of 11l
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS Pension Plan, continued
Pension Liabilities, Pension Expense,Deferred Outflows of Resources
and Deferred Inflows of Resources Related to the Pension Plan. At
September 30, 2021, the District reported an FRS pension liability of$1,486,928
for its proportionate share of the net pension liability. The net pension liability was
measured as of June 30, 2021, and the total pension liability used to calculate
the net pension liability was determined by an actuarial valuation as of July 1, 2020.
The District's proportionate share of the net pension liability was based on the
District's 2020-21 fiscal year contributions relative to the total 2020-21 fiscal year
contributions of all participating members. At September 30, 2021,the District's
proportionate share was .019684338 percent, which was a decrease of.002011784
percent from its proportionate share measure as of September 30, 2020.
For the year ended September 30, 2021, the District recognized FRS pension
expense (credit) of($596,404). In addition, the District reported deferred outflows of
resources and deferred inflows of resources related to the pension from the following
sources:
Deferred Outflows Deferred Inflows
Description of Resources of Resources
Differences between expected
and actual experience $ 254,862 $ -
Change of assumptions 1,017,431 Net difference between projected and
actual earnings on pension plan investments - 5,187,520
Changes in proportion and differences between
District contributions and proportionate share
of contributions 93,723 2,535,745
District contributions subsequent to the
measurement date 211,807 -
Total $ 1,577,823 $ 7,723,265
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 47 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS Pension Plan, continued
The deferred outflows of resources related to the FRS pension, totaling $211,807
resulting from District contributions subsequent to the measurement date,will be
recognized as a reduction on the net pension liability in the fiscal year ended
September 30, 2022. Other amounts reported as deferred outflows of resources
and deferred inflows of resources related to the pension will be recognized in pension
expense over the remaining service period of 5.7 years as follows:
Fiscal Years Ending
September 30 Amount
2022 $ (1,545,758)
2023 (1,545,758)
2024 (1,545,758)
2025 (1,545,758)
2026 (248,878)
Thereafter 74,661
Total $ (6,357,249)
Actuarial Assumptions. The total pension liability in the July 1, 2020, actuarial
valuation was determined using the following actuarial assumptions, applied to all
periods included in the measurement:
Valuation Date July 1, 2020
Measurement date June 30, 2021
Inflation 2.40 percent
Real payroll growth 0.85 percent
Salary increases 3.25 percent, average, including inflation
Investment rate of return 6.80 percent,net of pension plan
investment expense, including inflation
Actuarial cost method Individual entry age
Mortality rates were based on the Generational PUB-2010 with Projection Scale
MP-2018.
The actuarial assumptions used in the July 1, 2020,valuation were based on the
results of an actuarial experience study for the period July 1, 2013 through June 30,
2018.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 48 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS Pension Plan, continued
The long-term expected rate of return on pension plan investments was not based on
historical returns, but instead is based on a forward-looking capital market economic
model. The allocation policy's description of each asset class was used to map the
target allocation to the asset classes shown below. Each asset class assumption is
based on a consistent set of underlying assumptions, and includes an adjustment for
the inflation assumption. The target allocation and best estimates of arithmetic and
geometric real rates of return for each major asset class are summarized in the
following table:
Compound
Annual Annual
Target Arithmetic (Geometric) Standard
Asset Class Allocation(1) Return Return Deviation
Cash 1.0% 2.1% 2.1% 1.1%
Fixed income 20.0% 3.8% 3.7% 3.3%
Global equity 54.2% 8.2% 6.7% 17.8%
Real estate(property) 10.3% 7.1% 6.2% 13.8%
Private equity 10.8% 11.7% 8.5% 26.4%
Strategic investments 3.7% 5.7% 5.4% 8.4%
Total 100.0%
Assumed inflation-Mean 2.4% 1.2%
(1)As outlined in the Plan's investment policy
Money-weighted Rate of Return. The annual money-weighted rate of return on
FRS Pension Plan investments for the year ended June 30, 2021 was 30.41%.
Discount Rate. The discount rate used to measure the total pension liability
was 6.80 percent. The Plan's fiduciary net position was projected to be available to
make all projected future benefit payments of current active and inactive employees.
Therefore, the discount rate for calculating the total pension liability is equal to the
long-term expected rate of return.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 49 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS Pension Plan, continued
Sensitivity of the District's Proportionate Share of the Net Pension Liability
to Changes in the Discount Rate. The following presents the District's
proportionate share of the net pension liability calculated using the discount rate of
6.80 percent which was reduced from 6.90%, as well as what the District's
proportionate share of the net pension liability would be if it were calculated using a
discount rate that is 1-percentage-point lower(5.80 percent) or 1-percentage-point
higher(7.80 percent)than the current rate:
1% Current 1%
Decrease Discount Rate Increase
(5.80%) (6.80%) (7.80%)
District's proportionate share of
the net pension liability $ 6,649,642 $ 1,486,928 $ (2,828,522)
Pension Plan Fiduciary Net Position. Detailed information about the pension plan's
fiduciary net position is available in the separately issued FRS Pension Plan and Other
State Administered Systems Comprehensive Annual Financial Report(FRS "CAFR")
dated June 30, 2021.
The FRS CAFR and actuarial reports may also be obtained by contacting the
Division of Retirement at:
Department of Management Services
Division of Retirement
Bureau of Research and Member Communications
P.O. Box 9000
Tallahassee, FL 32315-9000
850-488-5706 or toll free at 877-377-1737
http://www.dms.mvflorida.com/workforce operations/retirement/publications
Payables to the Pension Plan. At September 30, 2021,the District reported a
payable of$0 for the outstanding amount of contributions in the Pension Plan.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 50 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
HIS Plan
Plan Description.The Health Insurance Subsidy Plan("HIS Plan")is a
cost-sharing multiple-employer defined benefit pension plan established under Section
112.363, Florida Statutes. The benefit is a monthly payment to assist retirees of
State-administered retirement systems in paying their health insurance costs and is
administered by the Division of Retirement within the Florida Department of
Management Services.
Benefits Provided. For the year ended September 30, 2021, eligible retirees
and beneficiaries received a monthly HIS payment equal to the number of years of
creditable service completed at the time of retirement multiplied by $5. The payments
are at least $30 but not more than $150 per month,pursuant to Section 112.363,
Florida Statutes. To be eligible to receive a HIS Plan benefit, a retiree under a
State-administered retirement system must provide proof of health insurance coverage,
which can include Medicare.
Contributions. The HIS Plan is funded by required contributions from FRS
participating employers as set by the Florida Legislature. Employer contributions are
a percentage of gross compensation for all active FRS members. For the year ended
September 30,2021, the contribution rate ranged between 1.66 percent and 1.66
percent of payroll pursuant to Section 112.363, Florida Statutes. The District
contributed 100 percent of its statutorily required contributions for the current and
preceding three years. HIS Plan contributions are deposited in a separate trust fund
from which HIS payments are authorized. HIS Plan benefits are not guaranteed and
are subject to annual legislative appropriation. In the event the legislative appropriation
or available funds fail to provide full subsidy benefits to all participants,benefits may be
reduced or cancelled.
Pension Liabilities, Pension Expense,Deferred Outflows of Resources
and Deferred Inflows of Resources Related to the HIS Plan. At September
30, 2021,the District reported a HIS liability of$1,749,993 for its proportionate
share of the net HIS Plan's net pension liability. The net pension liability was measured
as of June 30, 2021, and the total pension liability was used to calculate the net
pension liability determined by an actuarial valuation as of July 1, 2020. The District's
proportionate share of the net HIS liability was based on the District's 2020-21 fiscal
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 51 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
HIS Plan, continued
year contributions relative to the total 2020-21 fiscal year contributions of all
participating members. At September 30, 2021,the District's proportionate share
was .014266437 percent, which was an increase of.000044888 percent from its
proportionate share measured as of September 30, 2020.
For the fiscal year ended September 30, 2021, the District recognized HIS expense
(credit) of($38,068). In addition, the District reported deferred outflows of resources
and deferred inflows of resources related to pensions from the following sources:
Deferred Outflows Deferred Inflows
Description of Resources of Resources _
Differences between expected
and actual experience $ 58,559 $ 733
Change of assumptions 137,509 72,104
Net difference between projected and actual
earnings on HIS pension plan investments 1,824 -
Changes in proportion and differences between
District HIS contributions and proportionate
share of HIS contributions 73,997 502,644
District contributions subsequent to the
measurement date 22,414 -
Total $ 294,303 $ 575,481
The deferred outflows of resources related to HIS, totaling $22,414 resulting from
District contributions subsequent to the measurement date, will be recognized as a
reduction on the net pension liability in the year ended September 30, 2022. Other
amounts reported as deferred outflows of resources and deferred inflows of
resources related to pensions will be recognized in pension expense over the
remaining service period of 6.4 years as follows:
Fiscal Years Ending
September 30 Amount
2022 $ (56,103)
2023 (56,103)
2024 (56,103)
2025 (56,103)
2026 (56,559)
Thereafter (22,621)
Total $ (303,592)
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 52 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
HIS Plan, continued
Actuarial Assumptions. The total pension liability in the July 1, 2020, actuarial
valuation was determined using the following actuarial assumptions, applied to all
periods included in the measurement:
Inflation 2.40 percent
Real Payroll Growth 0.85 percent
Salary Increases 3.25 percent,average,including inflation
Municipal Bond Rate 2.16 percent
Actuarial Cost Method Individual entry age
Mortality rates were based on the Generational PUB-2010 with Projected Scale
MP-2018.
Because the HIS Plan is funded on a pay-as-you-go basis, no experience study hay
been completed for the Plan.
Discount Rate. The discount rate used to measure the total HIS liability was
decreased from 2.21 %to 2.16%. In general,the discount rate for calculating the total
HIS liability is equal to the single rate equivalent to discounting at the long-term
expected rate of return for benefit payments prior to the projected depletion date.
Because the HIS benefit is essentially funded on a pay-as-you-go basis, the depletion
date is considered to be immediate, and the single equivalent discount rate is equal to
the municipal bond rate selected by the plan sponsor. The Bond Buyer General
Obligation 20-Bond Municipal Bond Index was adopted as the applicable municipal
bond index.
Sensitivity of the District's Proportionate Share of the Net HIS Liability
to Changes in the Discount Rate. The following presents the District's
proportionate share of the net HIS liability calculated using the discount rate of
2.16 percent, as well as what the District's proportionate share of the net HIS
liability would be if it were calculated using a discount rate that is 1-percentage-point
lower(1.16 percent) or 1-percentage-point higher(3.16 percent) than the current
rate:
1% Current 1%
Decrease Discount Rate Increase
(1.16%) (2.16%) (3.16%)
District's proportionate share of
the net HIS liability $ 2,023,161 $ 1,749,993 $ 1,526,193
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 53 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
HIS Plan, continued
Pension Plan Fiduciary Net Position. Detailed information about the HIS plan's
fiduciary net position is available in the separately issued FRS Pension Plan and Other
State Administered Comprehensive Annual Financial Report(FRS "CAFR") dated
June 30, 2021.
The FRS CAFR and actuarial reports may also be obtained by contacting the
Division of Retirement at:
Department of Management Services
Division of Retirement
Bureau of Research and Member Communications
P.O. Box 9000
Tallahassee, FL 32315-9000
850-488-5706 or toll free at 877-377-1737
http://www.dms.myflorida.com/workforce operations/retirement/publications
Payables to the Pension Plan. At September 30,2021, the District reported a
payable of$0 for the outstanding amount of contributions to the HIS plan.
FRS-Defined Contribution Pension Plan
The SBA administers the defined contribution plan officially titled the FRS Investment
Plan(Investment Plan). The Investment Plan is reported in the SBA's annual financial
statements and in the State of Florida Comprehensive Annual Financial Report.
As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect
to participate in the Investment Plan in lieu of the FRS defined benefit plan. District
employees participating in DROP are not eligible to participate in the Investment
Plan. Employer and employee contributions, including amounts contributed to
individual member's accounts, are defined by law, but the ultimate benefit depends in
part on the performance of investment funds. Benefit terms, including contribution
requirements, for the Investment Plan are established and may be amended by the
Florida Legislature. The Investment Plan is funded with the same employer and
employee contribution rates that are based on salary and membership class (Regular
Class, Elected County Officers, etc.) as the FRS defined benefit plan. Contributions
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 54 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS - Defined Contribution Pension Plan, continued
are directed to individual member accounts, and the individual members allocate
contributions and account balances among various approved investment choices.
Costs of administering the plan, including FRS Financial Guidance Program, are
funded through an employer contribution of 0.06 percent of payroll and by forfeited
benefits of plan members. Allocations to the investment member's accounts during
the 2020-21 fiscal year were as follows:
Percent of Gross Salary*
Class Employee Employer(1) Employer(3)
Florida Retirement System,Regular 3.00 10.00 10.82
Florida Retirement System,Senior Management Service 3.00 27.29 29.01
Florida Retirement System,Special Risk 3.00 24.45 25.89
Deferred Retirement Option Program-Applicable
to Members from All of the Above Classes 0.00 16.98 18.34
Florida Retirement System,Reemployed Retiree (2) N/A N/A
Florida Retirement System,Elected Official 3.00 49.18 51.42
Notes:
(1) Employer rates include 1.66 percent for the post employment health insurance subsidy. Also,
employer rates,other than for DROP participants,include.06 percent for administrative costs for
the Investment Plan. Rates for 7/1/20-6/30/21.
(2) Contribution rates are dependent upon retirement class in which reemployed.
(3) Employer rates include 1.66 percent for the post employment health insurance subsidy. Also,
employer rates,other than for DROP participants,include.06 percent for administrative costs for
the Investment Plan. Rates for 7/1/21-6/30/22.
* As defined by the Plan.
For all membership classes, employees are immediately vested in their own
contributions and are vested after 1 year of service for employer contributions and
investment earnings. If an accumulated benefit obligation for service credit originally
earned under the FRS Pension Plan is transferred to the Investment Plan, the member
must have the years of service required for FRS Pension Plan vesting(including the
service credit represented by the transferred funds)to be vested for these funds and
the earnings on the funds. Nonvested employer contributions are placed in a suspense
account for up to 5 years. If the employee returns to FRS-covered employment
within the 5-year period,the employee will regain control over their account. If the
employee does not return within the 5 year period,the employee will forfeit the
accumulated account balance. For the fiscal year ended September 30, 2021, the
information for the amount of forfeitures was unavailable from the SBA; however,
management believes that these amounts, if any, would be immaterial to the District.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 55 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
FRS-Defined Contribution Pension Plan, continued
After termination and applying to receive benefits,the member may rollover vested
funds to another qualified plan, structure a periodic payment under the Investment
Plan, receive a lump-sum distribution, leave the funds invested for future distribution,
or any combination of these options. Disability coverage is provided; the member
may either transfer the account balance to the FRS Pension Plan when approved for
disability retirement to receive guaranteed lifetime monthly benefits under the FRS
Pension Plan, or remain in the Investment Plan and rely upon that account balance for
retirement income.
The District's Investment Plan pension expense included within the FRS expense
totaled $113,943 for the year ended September 30, 2021.
Payables to the Investment Plan. At September 30, 2021, the District reported a
payable of$0 for the outstanding amount of contributions to the Plan.
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund
The following brief description of the North Collier Fire Control and Rescue District
Firefighters' Pension Plan(originally known as the North Naples Firefighters' Pension
Plan) (the "Plan") is provided for general information purposes only. The Plan's name
changed effective January 1, 2015 with the District's merger. Participants should refer
to the Plan agreement for a more complete description of the Plan. On July 11, 1996,
under the authority of Florida Statute 175 and Laws of Florida, Chapter 95-338, the
District's Board of Commissioners passed Resolutions 96-004 and 96-005,providing
for the establishment and funding of a single employer defined benefit retirement plan
and trust for newly hired fire suppression personnel effective January 1, 1996. The
resolutions establish that certified firefighters hired on or after January 1, 1996 are to
become participants in the District's Firefighters' Pension Trust( FPT) Fund. The Plan
is totally administered, including all investment management, by a third party
administrator and the Plan's appointed 5 member Pension Board of Trustees.
Effective October 1, 2011, employee participants were required to contribute 3%
(similar to FRS) of compensation(an increase from .5% of compensation)per
Resolution 11-031. Effective January 1, 2019, employee participants are required to
contribute 8.48% of their compensation to the Plan.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 56 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2-Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
Effective January 1, 2015, employees of the Big Corkscrew Island(BCI) Fire
District merged with those of North Naples Fire District. As such, five employees of
BCI joined Plan 2, the Firefighters' Pension Trust Fund.
During the year ended September 30, 2015,the District adopted Governmental
Accounting Standards Board Statement No. 68 "Accounting and Financial Reporting
for Pensions" (GASB 68). As such,the Plan's beginning net position was restated
and the net pension liability was recorded in the government-wide financial
statements.
During the years ended September 30, 2021, 2020, and 2019 there were employee
contributions in the amount of$1,342,040, $1,257,090, and$1,027,420,
respectively, to the Plan. The employer contributed 100% of its required
contributions, as well as those required contributions of the participating firefighters
(0.5%pick-up).
The Plan provides for full-time firefighting personnel to become eligible to participate
in the Plan immediately upon hire. Under District resolution 96-005,the District
elected to pay the 0.5% (1%prior to December 9, 2004) employee required
contribution on behalf of the employee. Effective December 9, 2004, the employee
contribution was reduced to 0.5% (employee pick up). Effective July 1, 2001 (per
resolution 01-01),benefits under the Plan vest after six years of creditable service.
Employees who elect normal retirement at or after age 55 with 6 years of creditable
service, or 25 years of service regardless of age, are entitled to a retirement benefit.
Effective October 1, 2011, required employee contributions increased to 3% of
compensation. Employees may elect early retirement after 6 years of creditable
service with a reduction in benefit not to exceed 3% for each year before normal
retirement. The Plan also includes certain disability and death benefits.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 57 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions - Firefighters' Pension Trust Fund,
continued
Contributions -Contributions to the Plan are derived from three sources:
the Plan's participants are required to contribute to the Plan in the amount of 3%of
their covered wages and pursuant to resolution 11-031 the District has elected to
increase the affected employees' salary by 0.5% (employer pick-up), State funds (fire
[hazard] insurance premium excise tax per Florida Statute Chapter 175) and
employer(remaining amount necessary to meet actuarial requirement). For the
period from January 1, 1996 through September 30, 1996,no employer
contributions were required. Employer contributions were required beginning
October 1, 1996. The State contributions under Chapter 175 began in June 1997.
This revenue is based on property hazard insurance premium excise tax paid within
the District and is applied up to an approved"frozen" limit of$1,746,716. The
District (employer) is required to fund the difference each year between the total
contributions from all other sources for the year and the total cost for the year
pursuant to the most recent actuarial valuation of the Plan. The total cost for any year
equals total normal cost plus the additional amounts sufficient to amortize the
unfunded past service liability over a 30 year period commencing the first year of the
Plan's inception.
Effective January 1, 2019, Resolution 18-031 was adopted, which implemented and
increase in the benefit multiplier to 3.53% for all years of service for all active
members and an increase in the member contribution rate to 8.48% (3.0%prior to
January 1, 2019). The District shall pay 0.5% of the member contributions.
Pursuant to Florida law, the District is ultimately responsible for making sure the Plan
remains actuarially sound. Therefore, each year, the District must contribute an
amount determined by the Board in conjunction with their actuary to be sufficient,
along with the participant's contribution and the State contribution, to fund the
benefits under the Plan. The employer's contribution will vary from year to year.
Pursuant to Chapter 175, Florida Statutes,the District imposed a 1.85% excise tax
on property hazard insurance premiums paid to insure real or personal property
within the District. The proceeds of this tax are contributed to this Plan as are of the
District's contribution.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 58 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions-Firefighters' Pension Trust Fund,
continued
Pursuant to the actuarial study dated October 1,2020 for the year ended September
30, 2021, the District's contribution(District only)requirement was 33.02%of the
actuarially determined covered payroll. Actual District contributions to the Plan for
the years ended September 30, 2021, 2020 and 2019, were $3,606,617, (including
District contributions of$3,334,201 and application of unearned revenue of
$272,416) $2,306,381 (includes cash of$2,041,502 and application of unearned
revenue of$264,879), and$2,769,139,respectively. The State contributions (excise
tax) for the years ended September 30, 2021, 2020 and 2019 were $1,891,478,
$1,805,743, and$1,874,326,respectively. Employees contributed(3%prior to
January 1, 2019 and 8.48% after December 31, 2018) $1,342,040, $1,257,090
and$1,027,420 to the Plan for the years ended September 30, 2021, 2020 and
2019, respectively. At September 30, 2021, the Plan's total net position was
restricted for retiree benefits.
Payables to the Pension Plan. At September 30, 2021, the District reported a
payable of$0 for the outstanding amount of contributions payable to the
pension plan.
Pension Benefits - Effective July 1, 2001, employees with 6 or more years of
service are entitled to monthly pension benefits,beginning at the earlier of age 55 with
6 years of credited service or 25 years credited service regardless of age. Benefit is
equal to 3.53% of their average final compensation(AFC) times credited service
prior to October 1, 2013 plus 3% of average final compensation times credited
service on and after October 1, 2013. AFC means the average of the highest five (5)
years within the last ten(10)years of service. Maximum benefit is 100% of AFC.
The Plan permits early retirement with 6 years (10 years prior to July 2, 2001) of
credited service. Members hired after December 31, 2014 must have 10 years of
credited service to qualify for early retirement. Employees may elect to receive their
pension benefits in the form of a 10 year certain and life annuity. If employees
terminate before rendering 10 years of credited service, they forfeit the right to
receive the portion of their accumulated Plan benefits.
All retirement benefits are annually increased for cost of living at 3%.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 59 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
Death and Disability Benefits -Upon the death of any vested member,
whether or not still in active employment, a survivor benefit is payable to the
beneficiary starting when the member would have reached retirement age. The
benefit is equal to the vested pension benefit and is payable for 10 years. The
Minimum line of duty death benefit is 50% of the participant's salary,which is
payable either to the participant's spouse or minor children. This line of duty death
benefit is payable to the spouse for life, or to age 18 for the children.
Effective July 1, 2019 and in accordance with Chapter 2019-21, Laws of Florida,
the Plan must consider a firefighter to have died in the line of duty if he or she dies as
a result of cancer or circumstances that arise out of the treatment of cancer.
Employees who become totally disabled receive the greater of the accrued pension
benefit or 25% of AFC, if non-service incurred, or 42% of AFC, if active service
incurred. Effective December 9, 2004,the active service related benefit was
increased to 65%.
Effective July 1, 2019 and in accordance with Chapter 2019-21, Laws of Florida,
the Plan must consider a firefighter totally and permanently disabled in the line of duty
if he or she meets the Plan's definition of totally and permanently disabled due to the
diagnosis of cancer or circumstances that arise out of the treatment of cancer.
Supplemental Benefits-Effective December 31, 2004, each service and
disability retiree and their joint pensioners or beneficiaries and vested terminated
members shall receive a supplemental payment to be used as a health insurance
subsidy payment. The amount shall be five dollars ($5) for each full year of credited
service for life. The maximum monthly supplement is one hundred fifty dollars ($150)
and the minimum thirty dollars ($30).
DROP -Effective December 12, 2013, Resolution 13-034 was adopted, which
established a Deferred Retirement Option Plan("DROP"). An"eligible participant" of
the pension plan, which is defined as an individual currently on full-time work status,
may elect to participate in the DROP on the first day of the month coincident with or
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 60 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
next following either, attainment of age fifty-five (55) and the completion of ten(10)
years of credited service, or the completion of twenty-five (25) years of credited
service, which date shall constitute the "initial date of eligibility". An eligible
participant electing to participate in DROP must complete and execute such forms as
may be required by the District and supplied by the Board of Trustees not less than
thirty(30) days prior to entering the DROP. The forms shall include, but not limited
to, an irrevocable letter of resignation effective no later than the conclusion of the
maximum period of DROP participation. Election into the DROP is irrevocable
provided there shall be no minimum period of participation; however in the event of a
voluntary termination prior to the maximum period, any DROP participant termination
prior to such maximum DROP period shall submit a written notice at least thirty(30)
days prior to such early termination of DROP participation.
An eligible participant may elect to participate in the DROP only once. After
commencement of participation in DROP, a participant shall no longer earn, accrue or
purchase additional service credits towards retirement benefits or later enhancements
to the firefighters'pension plan.
Upon the effective date of an eligible participant's participation in DROP, all
contributions by and on behalf of the participant to the plan shall be discontinued. For
all plan purposes, service and vesting credits of an eligible participant electing DROP
shall be fixed as of the effective date of commencement of DROP participation. Any
services as a firefighter after entry into DROP shall not be used for calculation or
determination of benefits payable by the pension plan. The average final
compensation of a participant, as defined in this plan shall be determined as of the
effective date of commencement of DROP participation and other subsequent
earnings shall not be used for calculation or determination of benefits payable by the
pension plan.
Income Recognition-Interest income is recorded on the accrual basis. Investments
are reported at market value. Short-term investments are reported at cost, which
approximates market value.
Actuarial Present Value of Accumulated Plan Benefits-Accumulated plan
benefits are those future periodic payments, including lump-sum distributions,that
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 61 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
are attributable under the Plan's provisions to the service employees have rendered.
Accumulated plan benefits include benefits expected to be paid to (a)retired or
terminated employees or their beneficiaries, (b)beneficiaries of employees who have
died, and(c)present employees or their beneficiaries. Benefits under the Plan are
based on employees' age at entry to the Plan and are based upon the current starting
salary for firefighters at entry level. Benefits payable under all circumstances,
retirement, death, disability and termination of employment, are included, to the
extent they are deemed attributable to employee service rendered to the valuation
date.
The actuarial present value of accumulated plan benefits is determined by an actuary
and is the amount that results from applying actuarial assumptions to adjust the
accumulated plan benefits to reflect the time value of money (through discounts for
interest) and the probability of payment (by means of decrements such as for death,
disability,withdrawal, or retirement)between the valuation date and the expected
date of payment. The significant actuarial assumptions used in the valuations as of
October 1, 2020 were (a) life expectancy of participants -MP 2018 (combined
healthy, sex distinct)Mortality Table was used, (b)retirement age assumptions (the
assumed average retirement age was 55), (c) annual investment return of 7.0% (net
of fees) and (d) the rate of inflation at 2.5%. The actuarial valuation reflected
assumed average rates of return of 7.0% (net of fees). The foregoing actuarial
assumptions are based on the presumption that the Plan will continue. If the Plan
terminated, different actuarial assumptions and other factors might be applicable in
determining the actuarial present value of accumulated plan benefits.
The actual money-weighted rate of return on Plan assets was 20.28%.
Payment of Benefits -Benefit payments to participants are recorded upon
distribution. The District contributed 100% of the required contributions. A summary
of certain Plan details and trend information is included below.
A copy of the Plan and Plan audit as of and for September 30, 2021 can be
obtained by writing to the District at 1885 Veterans Park Drive, Naples, Florida
34109-0492, or by calling(239) 597-3222.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 62 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
The following is a summary of the Single-Employer Defined Benefit Pension Plan
(Florida Statutes Chapter#175), including funding policies, contribution methods,
benefit provisions and trend information:
Firefighters'Pension
Trust Fund-Plan 2
Year established and governing authority District Resolution 96-004(July 11, 1996)
Governing body Board of Trustees of Plan
Determination of contribution requirements: Actuarially determined
Employer(District) Amount required in excess of Member and
applicable State contributions needed in
order to pay current costs and amortize any
unfunded past service cost over 30 years
Plan members 3.0%of covered payroll-prior to 1/1/19
8.48%of covered payroll-after 12/31/18
Funding of administrative costs: Employer
Period required to vest 10 years
Annual salary increase Graduated Scale based on Credited Service(see below)
Post retirement benefit increase Cost of living increase of 3%each year
Eligibility for distribution Earlier of 55 with 6 years of credited service or
(Normal retirement) 25 years credited service regardless of age
Provisions for:
Disability benefits Yes
Death benefits Yes
Early retirement Yes
Assumed inflation 2.5%
Actuarial assumption/method changes since
prior valuation:
Actuarial Cost Method Entry Age Normal actuarial cost method.Prior
valuations utilized Frozen
Amortization Method Level Dollar Amount,Closed
Remaining Amortization Period 27 years(as of 10/1/17)
Net-of-Fees Investment Return 7.00%
Annual Salary Increase Flat 6%per year to graduated scale(9%per year
for first 10 years&3%per year for 10+years)
Actuarial valuation date October 1,2020
Measurement date September 30,2021
Actuarial Experience Study August 6,2019
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 63 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2-Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
Net Pension Liability of the Fund-The components of the actuarially determined
net pension liability of the District at September 30, 2021 were as follows:
Amount
Total pension liability $ 126,276,949
Plan fiduciary net position (128,497,682)
District's net pension liability $ (2,220,733)
Plan fiduciary net position as a percentage of the
total pension liability 101.76%
The total pension liability was determined by an actuarial valuation as of October 1,
2020 and updated to the measurement date of September 30, 2021 using certain
actuarial assumptions, the most significant of which were 7.0 percent for the investment
rate of return(net of fees), 3.0-9.0 percent for projected salary increases and 2.5
percent for inflation.
Mortality rates were based on the MP-2018 Combined Healthy Mortality Table.
Disabled lives are set forward two years for females and set back four years for males.
The Plan's policy with regards to the allocation of invested assets is established and may
be amended by the Pension Board. Plan assets are managed on a total return basis with
a long-term objective of achieving and maintaining a fully funded status for the benefits
provided through the Plan. The investment policy was last amended in February 2014.
The following table summarizes the Board's adopted allocation policy and the long-term
expected real rates of return for each major asset class:
Long-Term
Target Actual Expected Real
Asset Class Allocation Allocation Rate of Return*
Domestic equities 45% 56.15% 7.5%
International equities 15% 17.00% 8.5%
Global broad market fixed income 15% 13.59% 2.5%
International fixed income 5% 6.33% 3.5%
Global Tactical Asset Allocation 10% 0.00% 3.5%
Real estate 10% 5.78% 4.5%
Cash and cash equivalents minimal 1.15% not available
*annual arithmetic return 100% 100%
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 64 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2-Plan Description and Provisions - Firefighters' Pension Trust Fund,
continued
The long-term expected rate of return on Plan assets was determined using a
building-block method in which best-estimate ranges of expected future real rates of
return(expected returns,net of Plan investment expense and inflation) are developed
for each major asset class. These ranges are combined to produce the long-term
expected rate of return by weighting the expected future real rates of return by the
target asset allocation percentage and by adding expected inflation.
Discount Rate. The discount rate used to measure the total pension liability was 7.0
percent. The projection of cash flows used to determine the discount rate assumed
that plan participant contributions will be made at the current contribution rate and
that District contributions will be made at rates equal to the difference between
actuarially determined contribution rates and the participant rate. Based on those
assumptions,the Plan's fiduciary net position was projected to be available to make
all projected future benefit payments of current plan participants. Therefore,the
long-term expected rate of return on Plan investments was applied to all periods of
projected benefit payments to determine the total pension liability.
Rate of Return Sensitivity. The sensitivity of the net pension liability to changes in
the discount rate was measured as follows. The net pension liability of the District
was calculated using the discount rate of 7.0 percent. It was also calculated using a
discount rate that was 1-percentage-point lower(6.0 percent) and
1-percentage-point higher(8.0 percent) than the current rate:
1% Current 1%
Decrease Discount Rate Increase
6.0% 7.0% 8.0%
Net pension liability(asset) $ 17,536,811 $ (2,220,733) $ (18,239,020)
Deferred Inflows/Outflows of Resources Related to Pensions
On September 30, 2021, the District reported deferred outflows of resources and
deferred inflows of resources related to pensions from the following sources:
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 65 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
Deferred Outflows Deferred Inflows
of Resources of Resources _
Differences between expected and
actual experience $ 3,794,273 $ 3,378,425
Change of assumptions 2,729,650 929,520
Net difference between projected and actual
earnings on plan investments - 777,761
Contributions subsequent to the measurement date 5,370,441 -
$ 11,894,364 $ 5,085,706
For the year ended September 30, 2021,the District recognized pension expense of
$4,563,061 related to this Plan.
The deferred outflows of resources related to the pension,resulting from District
contributions subsequent to the measurement date,will be recognized as a
reduction on the net pension liability in the fiscal year ended September 30, 2021.
Other amounts reported as deferred outflows of resources and deferred inflows
of resources related to the pension will be recognized in pension expense as follows:
Years Ending
September 30 Amount
2022 $ (358,893)
2023 324,575
2024 531,679
2025 360,413
2026 395,495
Thereafter 184,948
Total $ 1,438,217
Memberships of the Plan consisted of the following at October 1, 2020:
Firefighters'Pension
Trust Fund-Plan 2
Active plan members 168
Inactive plan members or beneficiaries currently receiving benefits 25
Inactive plan members entitled to but not yet receiving benefits 13
Total 206
Number of participating employers 1
Number of participating state agencies 1
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 66 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
The following is a schedule of changes in net pension liability for the fiscal year ended
September 30,2021:
Increase(Decrease)
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability(Asset)
Balances at September 30,2020 $ 110,312,027 $ 102,099,091 $ 8,212,936
Changes for the fiscal year:
Service cost 5,665,633 - 5,665,633
Interest 8,303,136 - 8,303,136
Differences between expected and
actual experience (213,161) - (213,161)
Changes of assumptions 3,495,537 - 3,495,537
Changes in benefit terms - - -
Adjustment* -
Contributions-Employer - 3,334,200 (3,334,200)
Contributions-State - 1,891,478 (1,891,478)
Contributions-Employee - 1,342,041 (1,342,041)
Contributions-Buy Back 26,420 26,420 Net investment income - 21,221,034 (21,221,034)
Benefit payments,including refunds
of employee contributions (1,312,643) (1,312,643) -
Administrative expense - (103,939) 103,939
Net changes 15,964,922 26,398,591 (10,433,669)
Balances at September 30,2021 $ 126,276,949 $ 128,497,682 $ (2,220,733)
Annual Pension Cost, Net Pension Obligation and Reserves
Current year annual pension costs for the Firefighters' Pension Trust Fund are shown
in the trend information provided. The Firefighters' Pension Trust Fund had a net
unfunded actuarial accrued liability(asset) at October 1, 2021 of($719,422).
The Plan assets are legally reserved for the payment of the respective plan member
benefits within the Plan. There are no assets legally restricted for plan benefits other
than these assets within the Plan. The Firefighters' Pension Trust Fund held certain
investments at year end.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 67 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2 -Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
Trend Information
Firefighters'Pension Trust Fund
Total(1)
Required Contributions Net
Annual District State State Pension
Fiscal Pension Required(2) Required Frozen Actual Percentage Obligation
Year Contribution Contribution Contribution Contribution Contribution Contributed (NPO)
2021 $ 5,225,679 $ 3,606,617 $ 1,891,478 $ 1,746,716 $ 5,225,679 100% -
2020 $ 4,112,124 $ 2,306,381 $ 1,805,743 $ 1,746,716 $ 4,112,124 100% -
2019 $ 4,643,465 $ 2,769,139 $ 1,874,326 $ 1,746,716 $ 5,180,761 112% -
2018 $ 4,732,018 $ 2,990,030 $ 1,741,988 $ 1,746,716 $ 4,732,018 100% -
2017 $ 4,302,560 $ 2,933,393 $ 1,369,167 $ 1,746,716 $ 4,302,560 100% -
2016 $ 3,146,984 $ 1,735,437 $ 1,411,547 $ 1,746,716 $ 3,146,984 100% -
2015 $ 2,594,733 $ 1,107,133 $ 1,487,600 $ 1,746,716 $ 2,594,733 100% -
2014 $ 2,896,024 $ 1,518,926 $ 1,377,098 $ 1,746,716 $ 2,896,024 100% -
2013 $ 3,386,733 $ 2,127,828 $ 1,314,064 $ 1,746,716 $ 3,441,892 102% -
2012 $ 3,283,811 $ 2,166,246 $ 1,214,214 $ 1,746,716 $ 3,380,454 103% -
2011 $ 3,473,598 $ 2,333,799 $ 1,139,799 $ 1,746,716 $ 3,626,125 104% -
2010 $ 3,190,997 $ 2,170,443 $ 1,020,554 $ 1,746,716 $ 3,200,901 100% -
2009 $ 2,796,158 $ 1,756,228 $ 1,039,931 $ 1,746,716 $ 3,079,738 110% -
2008 $ 2,211,933 $ 1,009,715 $ 1,485,798 $ 1,485,798 $ 2,495,513 113% -
(1) The District considers its annual pension cost to be its actuarially determined required
annual pension contribution including the employer and state contribution. Fy 2018
required contribution reduced by$0 excess State money reserve.
(2) For 2021 the District contributions include application of$0 of prepaid contributions.
Pension Trust Required Supplementary Information
Schedule of Funding Progress Firefighters'Pension Trust Fund:
Unfunded
Actuarial Actuarial Actuarial UAAL as
Value of Accrued Accrued Annual a%of
Actuarial Assets** Liability(AAL) Liability Funded Covered Covered
Valuation (AVA) -Entry Age (UAAL) Ratio Payroll Payroll
Date (a) (b) (b-a) (a/b) (c) (b-a)/c
10/01/21 $ 128,642,432 $ 127,923,010 $ (719,422) 100.6% $ 15,825,800 -4.5%
10/01/20 $ 102,099,091 $ 111,187,786 $ 9,088,695 91.8% $ 14,829,151 61.3%
10/01/19 $ 88,893,030 $ 98,664,952 $ 9,771,922 90.1% $ 14,434,146 67.7%
10/01/18 $ 80,928,687 $ 84,102,348 $ 3,173,661 96.2% $ 13,739,853 23.1%
10/01/17 $ 70,747,813 $ 73,738,012 $ 2,990,199 95.9% $ 13,771,976 21.7%
10/01/16 $ 58,512,948 $ 61,707,055 $ 3,194,107 94.8% $ 11,890,295 26.9%
10/01/15 $ 51,534,195 $ 51,541,750 $ 7,555 100.0% $ 9,671,942 0.1%
10/01/14 $ 49,189,571 $ 47,467,581 $ (1,721,990) 103.6% $ 8,770,495 -19.6%
10/01/13 $ 42,143,137 $ 41,366,768 $ (776,369) 101.9% $ 9,092,235 -8.5%
10/01/12 $ 33,983,491 $ 33,924,855 $ (58,636) 100.2% $ 8,254,150 -0.7%
10/01/11 $ 26,196,164 $ 26,153,965 $ (42,199) 100.2% $ 8,291,830 -0.5%
10/01/10 $ 22,990,534 $ 23,284,830 $ 294,296 98.7% $ 7,737,940 3.8%
10/01/09 $ 17,833,111 $ 18,108,267 $ 275,156 98.5% $ 7,522,834 3.7%
10/01/08 $ 16,719,426 $ 16,890,153 $ 170,727 99.0% $ 7,082,194 2.4%
** reflected by actuary as Plan Fiduciary Net Position
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 68 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 2-Plan Description and Provisions -Firefighters' Pension Trust Fund,
continued
Firefighters' Pension
Trust Fund
Valuation date 10/01/20
Actuarial cost method Entry Age Normal
Amortization method Level dollar, closed
Mortality table MP-2018 Combined Healthy
Remaining amortization period 27 years (as of 10/1/17)
Actuarial asset valuation method 5 Year Smoothed Market
Actuarial assumptions:
Investment rate 7.0% (net of fees)
Projected salary increase Graduated based on Service
(9%per year for first 10 years &
(3%per year for 10 or more years)
Inflation 2.5%
Post retirement cost of living
adjustment 3%
Measurement date September 30, 2021
Changes of Assumptions
Member contribution rate changed effective January 1, 2019 from 3% to 8.48%.
District still pays .5% of member contribution.
Benefit changes effective January 1, 2019:
Increased benefit multiplier to 3.53% for all years of service.
Effective July 1, 2019, the Plan must consider a firefighter permanently and totally
disabled if diagnosed with cancer per Laws of Florida, Chapter 2019-21.
For the year ended September 30, 2021,the following changes to assumptions
occurred: 1) investment rate changed from 7.2%to 7.0%.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 69 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE G- RETIREMENT PLANS, CONTINUED
Plan 3-Plan Description and Provisions -401(a)
The Board of Fire Commissioners established the 401(a) Plan for the general
employees and elected officials who are ineligible to participate in the Florida
Retirement System. The Plan was effective on January 1, 2013. At September 30,
2021, the Plan had two (2) active participants.
The Plan allows for employer contributions. Amounts contributed by the employer
correspond to the percentage of contributions by class, established for participants
of the Florida Retirement System. Employee contributions are prohibited.
Employer contributions are 100%vested after completion of one year of service. A
year of service is based on an employee completing at least 1,000 hours of service
during a plan year.
Total District contributions to the Plan for the years ended September 30, 2021,
2020 and 2019 were $2,556, $7,956 and $1,098,respectively.
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB)
The District formally established two (2) OPEB Plans to provide its retirees the
opportunity to obtain insurance (medical, dental and life) benefits. All retired full-time
employees are eligible for OPEB benefits if actively employed by the District
immediately before retirement. As such, active employees with at least twenty five
(25) years of service as of September 30, 2010 were allowed to elect to remain in
the Defined Benefit Plan or to enter the Post Employment Health Plan(PEHP), a
defined contribution Plan. The defined benefit Plan provides a$5,000 life insurance
benefit fully paid by the District. All retirees and Early Retirement Incentive Program
(ERIP)participants,who were eligible, remained in the Defined Benefit Plan. All
other active employees at that time, September 30, 2010, as well as future
employees entered the PEHP. Retirees under the PEHP Plan are responsible for the
full cost of coverage.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 70 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB), CONTINUED
The benefits are provided both with and without contractual or labor agreements.
The benefits may require contribution from the retirees, depending on certain
specified criteria and, in particular, length of creditable employment. The District
finances the benefits on a pay-as-you-go basis and recognizes expenditures at the
time the premiums are due for both Plans.
Effective January 1, 2015, all active employees of the merged District are covered
with the same post retirement health benefits.
Effective May 1, 2017 the District offered a post-employment health insurance
supplementation for eligible retirees who have completed fifteen(15)years of service
including three (3) years as a Chief Officer. Under this plan, the District shall
contribute 100%toward the cost of the retiree's participation in the District's health
insurance program for the retiree and qualifying spouse/dependent until the employee
reaches the age of 65 or is eligible for Medicare, whichever occurs first. This benefit
is provided in lieu of contributions to the PEHP.
Defined Benefit Plan
Specifically,the Defined Benefit Plan provides that the District will pay a portion of
medical and dental premiums for retirees depending on their years of credited service
starting with the completion of fifteen(15)years of credited service. As such,the
District pays 50% of the employee's premium and 25% of the spouse's premium at
completion of 15 years of service progressing to 100%of the employee's premium
and 100% of the spouse's premium upon completion of 25 years of service for
certain employees based on final rank at date of retirement. The retiree can buy
dependent coverage as part of the Plan. The District also pays the premium
associated with a$5,000 life insurance benefit.
During fiscal years 2009 and 2010, the District offered two (2) separate Early
Retirement Incentive Programs (ERIP)to a number of active employees. A portion
of the programs includes full payment of premiums associated with medical, dental,
vision and life insurance coverage, including dependent coverage for a period of 3
years. After the 3 year period ends,the ERIP participants receive the Defined
Benefit Plan benefits they had been eligible for at termination. During the year ended
September 30, 2014, the District paid the final amounts due on the ERIP Plans.
Note that the projected premiums for the dental and life benefits were assumed to
cover the entire cost of the program.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 71 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB), CONTINUED
Post Employment Health Plan (PEHP)
The PEHP is a defined contribution plan administered by the District.
All employees who did not elect to remain in the Defined Benefit Plan, and all
future active employees are participants in the PEHP.
Originally participants in the PEHP had$7,000 deposited on their behalf into an
account on the 20th anniversary of their date of hire and on each subsequent
anniversary. Additionally, those participants having over 20 years of credited service
at their date of retirement also received a$30,000 deposit on their behalf at date of
separation. Effective October 1, 2012, the Plan was changed to limit District total
contributions to $50,000 per employee.
Effective October 1, 2015,participants in the PEHP will have funds ($1,500 for
collective bargaining members and $2,500 for non-bargaining members) deposited
into a trust account following the 5th anniversary of their date of hire and on each
subsequent year. Additionally, those participants having over 20 years of credited
service at their date of retirement will receive a maximum contribution ranging from
$37,000 to $50,000 depending on length of service.
The PEHP is designed to offer similar benefits to those offered under the Defined
Benefit Plan.
The District, as part of the PEHP, entered a group variable annuity contract. As
such, the PEHP Plan's asset custodian and third party administrator is the insurance
company through which the annuity is contracted.
General -Funding Policy
The District paid$271,583 for retiree's and ERIP participants' health care premiums
as part of the Defined Benefit Plan on a pay-as-you-go basis for the year ended
September 30, 2021.
The District also contributed $380,500 to the PEHP Plan for the year ended
September 30, 2021.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 72 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB), CONTINUED
Post Employment Health Plan (PEHP), continued
General - Funding Policy, Continued
No separate trust has been established for either Plan. No separate financial
statement is issued for either OPEB Plan. All required disclosures are presented
herein. The District obtained an actuarial valuation for its defined benefit OPEB Plan
to measure the current year's subsidies and project these subsidies into the future,
making an allocation of that cost to different years. The following schedule of funding
progress presents multi-year trend information about whether the actuarial value of
plan assets is increasing or decreasing over time relative to the actuarial accrued
liability for benefits.
Plan Description-Defined Benefit
The year ended September 30, 2018 was the District's transition year and now
adheres to GASB No. 75 "Accounting and Financial Reporting for Postemployment
Benefits Other Than Pensions." GASB No. 75 requires the District record its
actuarially determined total OPEB liability.
All retired full-time employees are eligible for OPEB benefits if actively employed by
the District immediately before retirement. As of September 30, 2021, there were
forty(40)retirees eligible to receive benefits. At September 30, 2021 there were two
hundred sixty six (266) active District employees. The benefits are provided both
with contractual or labor agreements.
Actuarial Methods and Assumptions
Projections of benefits for financial reporting purposes are based on the substantive
plan(the plan as understood by the employer and plan members) and include types
of benefits provided at the time of each valuation and the historical pattern of sharing
of benefit costs between the employer and plan members to that point. The methods
and assumptions used include techniques that are designed to reduce the effects of
short-term volatility in actuarial accrued liabilities and the actuarial value of assets,
consistent with the long-term perspective of the calculations.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 73 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB), CONTINUED
Actuarial Methods and Assumptions, continued
At September 30, 2021, the District's Net OPEB Liability of$10,730,786 was
measured as of September 30, 2020, and was determined by an actuarial valuation
as of September 30, 2020 using the alternate measurement method. OPEB expense for
the year ended September 30, 2021 was $833,121. The following actuarial
assumptions and other inputs were applied to all periods included in the measurement:
The following simplifying assumptions were made:
Mortality-Life expectancies were based on MP2018 Mortality Tables for Males and Females
projected 10 years.
Annual healthcare cost trend using the Society of Actuaries Long-Run Medical Cost Trend
Model baseline assumptions with an initial rate of 8.00%per year trending to 4.00%by 2073.
Turnover-Non-group-specific age-based turnover data from GASB Statement 45 were used as
the basis for assigning active members a probability of remaining employed until the assumed
retirement age and for developing an expected future working lifetime assumption for purposes
of allocating to periods the present value of total benefits paid.
Amortization Period: Rolling 20 year amortization
Amortization Method: level percentage of payroll
The discount rate was 2.14(for 2021)3.58%(for 2020)(4.18%for 2019)(3.64%for 2018)and was
based on the 20 Year Municipal Bond Rate with AA/Aa2 or higher.
Measurement Date September 30,2020
Valuation Date September 30,2020
Entry age normal cost method was used.
Inflation Rate 2.50%
Salary Increases 6.00%
Discount Rate 2.14%
Initial Trend Rate 7.00%
Ultimate Trend Rate 4.00%
Years to Ultimate 56
The FRS salary scale was used
Participation percentage:50%
The actuarial assumptions used in the valuation reported for September 30,2020 were based on
results of an actuarial experience study performed for the FRS Retirement Plan for July 1,2018.
The rationales for selecting each of the assumptions used in the financial accounting valuation
and for the assumptions changes summarized above are to best reflect the current market
conditions and recent plan experience.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 74 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB), CONTINUED
Changes in the Net OPEB Liability
Amount
Balance at September 30,2020 $ 9,980,141
Changes for the Year:
Service Cost 663,293
Interest Cost on Total OPEB Liability 372,430
Change in Benefit Terms -
Difference Between Expected and Actual Experience 165,655
Changes in Assumptions 34,233
Benefit Payments (484,966)
Net Changes 750,645
Balance at September 30,2021 $ 10,730,786
The following presents the net OPEB liability of the District as well as what the
District's net OPEB liability would be if it were calculated using a discount rate that is
1 percent higher or 1 percent lower than the current discount rate.
1%Decrease Current Rate 1%Increase
1.14% 2.14% 3.14%
Net OPEB Liability $ 12,096,120 $ 10,730,786 $ 9,588,329
The following presents the net OPEB liability of the District as well as what the
District's net OPEB liability would be if it were calculated using healthcare trend rates
that are 1 percent higher or 1 percent lower than the current healthcare trend rate.
1%Decrease Trend Rate 1%Increase
3.00-6.50% 4.00-7.50% 5.00-8.50%
Net OPEB Liability $ 9,401,208 $ 10,730,786 $ 12,342,791
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 75 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE H- POST-EMPLOYMENT BENEFITS OTHER THAN PENSION BENEFITS
(OPEB), CONTINUED
Changes in the Net OPEB Liability, continued
For the year ended September 30, 2021, the District recognized OPEB expense
credit of$833,121. At September 30, 2021, the District reported deferred outflows
of resources and deferred inflows of resources related to OPEB from the following
sources:
Deferred Deferred
Outflows of Inflows of
Resources* Resources*
Differences Between Expected and
Actual Experience $ 425,774 $ -
Changes in Assumptions 490,542 1,885,947
Employer contribution subsequent
to measurement date 485,236 -
Total $ 1,401,552 $ 1,885,947
Amounts reported as deferred outflows of resources and deferred inflows of
resources related to OPEB will be recognized in OPEB expense as follows:
Year Ended September 30: Amount
2022 $ (205,802)
2023 (205,802)
2024 (205,802)
2025 (205,799)
2026 (128,286)
Thereafter (18,140)
Total $ (969,631)
Changes in Assumptions:
• Decreased discount rate from 3.58%to 2.14%
• Healthcare costs and premiums, healthcare cost trends and salary increases,
retirement, termination and disability rates
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 76 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE I- RISK MANAGEMENT
During the year ended September 30, 2021, the District provided health benefits as
follows:
The District continued the use of a high deductible health plan offered to employees
and retirees of the District. The District does not offer vision coverage to the
employees of the District. The District offers a HSA plan for its employees or FSA
plan for employees older than 65. The District contributes $5,000 for those eligible
participants who have met the family deductible and $3,000 for those eligible
participants who have to meet the individual deductible to the HSA plan annually.
Participants may also elect to contribute to the respective plan on a pre-tax basis.
HSA amounts that are not utilized by the year end are carried over and are the
property of the participant per IRS regulation.
The District's HSA contributions for the year ended September 30, 2021 were
$1,169,956.
The District incurred $6,131,407 in health related claims, third party administration
costs, disability,premiums and reinsurance premiums including HSA contributions
(noted above) and workers compensation insurance during the year ended
September 30, 2021, for the self-insurance and fully-funded insurance programs.
It is the policy of the District to purchase third party commercial insurance for other
remaining forms of potential risks to which it is exposed. The District's risk
management activities are reported in the General Fund. No accrual has been
recorded for claims and incidents not reported to the insurer. The District paid
$502,752 for building, auto and other liability insurances for the year ended
September 30, 2021. The District had no significant reductions in insurance
coverage from the prior year. Reported claims have not exceeded the insurance
coverage for the years ended September 30, 2011 through September 30, 2021.
NOTE J- PROPERTY TAXES
Property taxes are levied after formal adoption of the District's budget and become
due and payable on November 1 of each year and are delinquent on April 1 of the
following year. Discounts on property taxes are allowed for payments made prior to
the April 1 delinquent date. Tax certificates are sold to the public for the full amount
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 77 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE J- PROPERTY TAXES, CONTINUED
of any unpaid taxes and must be sold not later than June 1 of each year. The billing,
collection, and related record keeping of all property taxes is performed for the
District by the Collier County Tax Collector. No accrual for the property tax levy
becoming due in November 2021 is included in the accompanying basic financial
statements, since such taxes are collected to finance expenditures of the subsequent
period.
Procedures for collecting delinquent taxes, including applicable tax certificate sales
and tax deed sales, are provided for by Florida Statutes. The enforceable lien date is
approximately two years after taxes become delinquent and occurs only upon request
of a holder of a delinquent tax certificate. As of September 30, 2021, $286,886 was
recorded in the General Fund and was due from the Collier County Tax Collector to
the District for ad valorem taxes and excess fees, and interest.
Important dates in the property tax cycle are as follows:
Assessment roll certified July 1
Millage resolution approved No later than 93 days following
certification of assessment roll.
Taxes due and payable(Levy date) November/with various discount
provisions through March 31.
Property taxes payable-maximum
discount(4 percent) 30 days after levy date
Beginning of fiscal year for which
taxes have been levied October 1
Due date March 31
Taxes become delinquent(lien date) April 1
Tax certificates sold by the Collier
County Tax Collector Prior to June 1
For the year ended September 30, 2021,the Board of Commissioners of the District
levied ad valorem taxes at a millage rate of$1.00 per$1,000 (1.0 mills) of the 2020
net taxable value of real property located within the North Naples Service Delivery
Area.
For the year ended September 30, 2021,the Board of Commissioners of the District
levied ad valorem taxes at a millage rate of$3.75 per$1,000 (3.75 mills) of the 2020
net taxable value of real property located within the Big Corkscrew Island Service
Delivery Area.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 78 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE K- IMPACT FEE FUND ACTIVITY
During the year ended September 30, 2021, the Impact Fee Fund had the following
activity:
Amount
Unearned revenue,October 1,2020 $ 1,608,974
Impact fee receipts 820,350
Impact fee refund(sale of property-Yarberry) 2,889,872
Due from other Governments 123,936
Due from the General Fund 16,733
Interest and other income 3,882
Operating expenses (14,163)
Principal reduction (57,500)
Loan interest (1,948)
Capital outlay -
Transfers in(out) -
Unearned revenue,September 30,2021 $ 5,390,136
On March 24, 2021, the District approved the sale of the Yarberry Lane property
as surplus land for$3,505,000. Since this property was originally purchased with
impact fees, the original purchase price of$2,889,872 was reinstated(refunded) to
the Impact Fee Fund upon the sale's closing.
NOTE L - FUND BALANCE/NET POSITION ALLOCATIONS
Fund Balance/Net Position were allocated for the following purposes at September
30,2021:
NN BCI Total
Nonspendable-General Fund Amount Amount Amount
Nonspendable fund balance-General Fund prepaid expenses $ 19,347 $ - $ 19,347
NN BCI Total
Assigned fund balance-General Fund Amount Amount Amount
General Fund-Expenses-Oct-Dec $ 9,082,622 $ 1,367,860 $ 10,450,482
General Fund-Emergency reserve 5,578,977 3,083,258 8,662,235
General Fund-Health insurance claim reserve 398,357 59,314 457,671
General Fund-Roof replacement 683,264 101,736 785,000
General Fund-Fire apparatus 217,600 32,400 250,000
Total General Fund S 15,960,820 S 4,644,568 $20,605,388
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 79 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE L- FUND BALANCE/NET POSITION ALLOCATIONS, CONTINUED
NN BCI Total
Unassigned-General Fund Amount Amount Amount
General Fund $ - $ - $
Total
Restricted Fund Balance/Net Position-Inspection Fee Fund Amount
Inspection Fee Fund $ 779,631
NOTE M-LEASED VEHICLES
On October 13, 2016,the District leased thirty one (31) vehicles under a sixty(60)
month operating lease agreement beginning March 2017. The terms and payment
varies for each vehicle. The minimum annual lease payments are as follows:
Year Ending
September 30 Amount
2022 $ 127,918
2023 86,445
2024 86,445
2025 86,445
2026 46,142
$ 433,395
Lease expense for the year ended September 30, 2021 was $122,555.
NOTE N- COMMITMENTS AND CONTINGENCIES
The District is involved from time to time in certain routine litigation, the substance of
which either as liabilities or recoveries, would not materially affect the financial
position of the District. Although the final outcome of the lawsuits, assertions, and
claims or the exact amount of costs and/or potential recovery is not presently
determinable, in the opinion of the District's legal counsel,the resolution of these
matters will not have a materially adverse affect on the financial condition of the
District. As a general policy, the District plans to vigorously contest any such
matters.
NOTE 0 - DEFICIT UNRESTRICTED NET POSITION (NET ASSETS)
During the year ended September 30,2021, the District's unrestricted net position
(net assets)balance was a balance of$4,510,934, due substantially to recording the
reduced current year actuarially determined net pension liability of$3,236,921. The
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 80 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30,2021
NOTE O- DEFICIT UNRESTRICTED NET POSITION (NET ASSETS), CONTINUED
District's total available fund balance at September 30, 2021 remains approximately
equal to five (5) months of actual expenditures. However, the Board assigned
available fund balance of$20,605,388 to fund operations for the first quarter of the
subsequent fiscal year.
During the year ended September 30, 2020, the District's unrestricted net position
(net assets) balance was a deficit of$(6,627,736), due substantially to recording the
current year actuarially determined net pension liability of$19,352,783. The
District's total available fund balance at September 30, 2020 remains approximately
equal to four(4)months of actual expenditures. However, the Board assigned
available fund balance of$18,673,395 to fund operations for the first quarter of the
subsequent fiscal year.
NOTE P- COVID 19
In early March 2020, the World Health Organization classified the coronavirus
outbreak"COVID-19" as a global pandemic, and it,unfortunately, continues to
spread. Business continuity, including supply chains and consumer demand across a
broad range of industries and countries,have been severely impacted, as
governments and their citizens take significant and unprecedented measures to
mitigate the consequences of the pandemic. On April 1, 2020, Florida Governor,
Ron DeSantis ordered all Floridians to stay home,to lock down the State against the
Coronavirus. Certain governmental activity was cancelled and/or severely limited.
The District has adapted its operations to accommodate the current environment.
However,the full impact of the COVID-19 outbreak continues to evolve as of the
date of this report. This pandemic has adversely affected global economic activity and
greatly contributed to instability in financial markets. Management is actively
monitoring the local situation on its financial condition, liquidity, operations, donors,
industry, and workforce. Given the daily evolution of COVID-19 and the global and
local responses to curb its spread,the District is not able to estimate the future
effects of COVID-19 on its results of operation, financial condition, or liquidity for
fiscal year 2021-22.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 81 of 111
NOTES TO THE FINANCIAL STATEMENTS
September 30, 2021
NOTE Q - SUBSEQUENT EVENT
On May 12, 2022,the District received an insurance award determination for roof
repairs at Fire Stations 12,44,45 and 46 due to damage caused by Hurricane Irma
on September 10, 2017. The total award(replacement cost) was $1,587,911. The
net amount to be paid to the District(net of award depreciation,prior insurance
payments and professional fees) is $911,157.
COMBINING FINANCIAL STATEMENTS
BY SERVICE DELIVERY AREA
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 82 of 111
COMBINING BALANCE SHEET -GENERAL FUND-BY SERVICE
DELIVERY AREA
September 30, 2021
North Naples Big Corkscrew Total
Service Island Service General
Delivery Area Delivery Area Eliminations Fund
ASSETS
Cash and cash equivalents $ 9,904,606 $ 3,042,814 $ - $ 12,947,420
Restricted cash and cash equivalents - - - -
Investments 7,457,701 2,008,402 - 9,466,103
Due from other governments 684,282 51,898 - 736,180
Due from other funds 458,586 - (458,546) 40
Other receivables,net 71,317 - - 71,317
Prepaid expenses 19,347 - - 19,347
TOTAL ASSETS $ 18,595,839 $ 5,103,114 $ (458,546) $ 23,240,407
LIABILITIES AND FUND BALANCE
LIABILITIES
Accounts payable and accrued expenses $ 2,574,882 $ - $ - $ 2,574,882
Retainage payable - - -Due to other funds 16,733 458,546 (458,546) 16,733
Contract deposits 7,500 - - 7,500
Uneamed revenue 16,557 - - 16,557
TOTAL LIABILITIES 2,615,672 458,546 (458,546) 2,615,672
FUND BALANCE
Nonspendable 19,347 - - 19,347
Restricted - - - -
Assigned 15,960,820 4,644,568 - 20,605,388
Unassigned - - - -
TOTAL FUND BALANCE 15,980,167 4,644,568 - 20,624,735
TOTAL LIABILITIES AND
FUND BALANCE $ 18,595,839 $ 5,103,114 $ (458,546) $ 23,240,407
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 83 of 111
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE -GENERAL FUND -
BY SERVICE DELIVERY AREA
Year Ended September 30,2021
General Fund
North Naples Big Corkscrew Total
Service Island Service General
Delivery Area Delivery Area Fund
REVENUES
Ad Valorem taxes $ 35,149,802 $ 7,606,105 $ 42,755,907
Intergovernmental revenue:
State firefighter supplement 56,643 - 56,643
Federal grants 595,438 - 595,438
Other Intergovernmental 18,800 - 18,800
Charges for services 755,435 - 755,435
Miscellaneous:
Interest 44,632 15,762 60,394
Other 211,222 22,174 233,396
TOTAL REVENUES 36,831,972 7,644,041 44,476,013
EXPENDITURES
Current
Public safety
Personnel services 29,675,123 4,418,538 34,093,661
Operating expenditures 6,099,920 972,120 7,072,040
Capital outlay 2,759,756 410,921 3,170,677
Debt service:
Principal reduction 598,398 89,100 687,498
Interest and fiscal charges 86,409 12,866 99,275
Reserves - - -
TOTAL EXPENDITURES 39,219,606 5,903,545 45,123,151
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (2,387,634) 1,740,496 (647,138)
OTHER FINANCING SOURCES AND(USES)
Proceeds from capital lease 1,106,574 - 1,106,574
Proceeds from disposition of capital assets 327,820 - 327,820
Transfer in - - -
Transfer out - - -
TOTAL OTHER FINANCING SOURCES
AND(USES) 1,434,394 - 1,434,394
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES (953,240) 1,740,496 787,256
FUND BALANCE-Beginning 16,933,407 2,904,072 19,837,479
FUND BALANCE-Ending $ 15,980,167 $ 4,644,568 $ 20,624,735
The accompanying notes are an integral part of this statement.
REQUIRED SUPPLEMENTARY
INFORMATION
OTHER THAN MD&A
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 84 of 111
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL - GENERAL FUND-
SUMMARY STATEMENT-NN
Year Ended September 30,2021
General Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Ad Valorem taxes $ 34,187,222 $ 34,187,222 $ 35,149,802 $ 962,580
Intergovernmental revenue:
State firefighter supplement 62,669 62,669 56,643 (6,026)
Federal grants 212,741 212,741 595,438 382,697
Other Intergovernmental 24,000 24,000 18,800 (5,200)
Charges for services 454,696 464,096 755,435 291,339
Miscellaneous:
Interest 258,000 258,000 44,632 (213,368)
Other 190,915 190,915 211,222 20,307
Subtotal-revenues 35,390,243 35,399,643 36,831,972 1,432,329
Cash brought forward 16,210,141 16,933,407 - (16,933,407)
TOTAL REVENUES 51,600,384 52,333,050 36,831,972 (15,501,078)
EXPENDITURES
Current
Public safety
Personnel services 29,984,513 30,225,614 29,675,123 550,491
Operating expenditures 6,220,636 6,491,180 6,099,920 391,260
Capital outlay 2,292,196 2,761,492 2,759,756 1,736
Debt service:
Principal reduction 459,687 598,398 598,398 -
Interest and fiscal charges 73,560 86,409 86,409 -
Reserves 13,538,176 13,379,442 - 13,379,442
TOTAL EXPENDITURES 52,568,768 53,542,535 39,219,606 14,322,929
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (968,384) (1,209,485) (2,387,634) (1,178,149)
OTHER FINANCING SOURCES AND(USES)
Proceeds from capital lease 963,162 963,162 1,106,574 143,412
Proceeds from disposition of capital assets 5,222 246,323 327,820 81,497
Transfer in - - - -
Transfer out - - -
TOTAL OTHER FINANCING SOURCES
AND(USES) 968,384 1,209,485 1,434,394 224,909
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES $ - $ - (953,240) $ (953,240)
FUND BALANCE-Beginning 16,933,407
FUND BALANCE-Ending $ 15,980,167
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 85 of 111
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
GENERAL FUND -DETAILED STATEMENT-NN
Year Ended September 30, 2021
General Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Ad Valorem taxes $ 34,187,222 $ 34,187,222 $ 35,149,802 $ 962,580
Intergovernmental revenue:
State firefighter supplement 62,669 62,669 56,643 (6,026)
Federal grants 212,741 212,741 595,438 382,697
Other Intergovernmental 24,000 24,000 18,800 (5,200)
Charges for services 454,696 464,096 755,435 291,339
Miscellaneous:
Interest 258,000 258,000 44,632 (213,368)
Other 190,915 190,915 211,222 20,307
Subtotal-revenues 35,390,243 35,399,643 36,831,972 1,432,329
Cash brought forward 16,210,141 16,933,407 - (16,933,407)
TOTAL REVENUES 51,600,384 52,333,050 36,831,972 (15,501,078)
EXPENDITURES
Current
Public safety
Personnel services:
Salaries
Firefighters&Admin. 16,947,744 16,947,744 16,390,728 557,016
Commissioners 26,112 26,112 26,112 -
Overtime 704,728 704,728 1,010,129 (305,401)
Vacation pay 156,672 156,672 122,120 34,552
Sick leave 719,071 719,071 701,610 17,461
Professional/Incentives and holiday pay 750,399 750,399 818,442 (68,043)
Payroll taxes
Social Security 1,457,218 1,457,218 1,420,735 36,483
Benefits
Retirement 3,476,550 3,476,550 3,545,144 (68,594)
Health insurance(including HSA) 4,733,710 4,733,710 4,323,887 409,823
Disability insurance 89,275 89,275 68,108 21,167
Unemployment - - 3,718 (3,718)
Workers compensation 695,670 695,670 692,716 2,954
Medical clinic/employee physicals 213,438 213,438 213,616 (178)
Post employment health plan(PEHP) 8,704 249,805 331,187 (81,382)
Retirement recognition 5,222 5,222 6,871 (1,649)
Subtotal-Personnel services 29,984,513 30,225,614 29,675,123 550,491
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 86 of 111
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
GENERAL FUND -DETAILED STATEMENT-NN (CONTINUED)
Year Ended September 30, 2021
General Fund
Variance
Original Final Favorable
Operating expenditures: Budget Budget Actual (Unfavorable)
Insurance 441,992 441,992 437,595 4,397
Uniforms 132,105 132,105 125,231 6,874
Communications 33,615 166,293 158,472 7,821
Telephone 355,558 355,558 328,600 26,958
Utilities 229,786 229,786 231,429 (1,643)
Maintenance
Vehicle 439,204 439,204 424,987 14,217
Equipment 70,555 70,555 9,664 60,891
Computer 608,170 733,508 817,083 (83,575)
Hydrant 65,280 65,280 64,385 895
Building 457,455 457,455 498,450 (40,995)
Supplies
Office 52,224 52,224 51,732 492
Protective gear 391,010 391,010 363,521 27,489
Station 62,669 62,669 61,289 1,380
Emergency medical 156,454 156,454 221,042 (64,588)
Enterprise Lease/Rental 135,956 135,956 122,555 13,401
Equipment
Office 26,982 26,982 47,538 (20,556)
Fire 258,302 258,302 193,233 65,069
Shop 27,679 27,679 42,599 (14,920)
Warehouse/logistics 4,352 4,352 4,357 (5)
Professional and other fees
Legal and professional 577,075 577,075 325,286 251,789
Property appraiser fees 263,529 263,529 260,004 3,525
Tax collector fees 689,744 689,744 700,188 (10,444)
Accounting 56,576 56,576 50,744 5,832
Miscellaneous
Travel 77,683 77,683 24,342 53,341
Public information officer 23,675 23,675 18,837 4,838
Fuel and oil 245,888 245,888 210,653 35,235
Legal advertisements 8,356 8,356 12,295 (3,939)
Dues and subscriptions 9,731 9,731 11,612 (1,881)
CERT team 8,704 8,704 6,039 2,665
Dive team 10,817 10,817 10,484 333
Fire prevention 18,583 18,583 22,720 (4,137)
Training 178,819 178,819 118,580 60,239
Hazardous materials 17,643 17,643 31,321 (13,678)
Technical rescue 63,662 76,190 67,428 8,762
Boat team 12,186 12,186 3,963 8,223
K-9 search and rescue - - - -
Honor guard - - - -
OPS - - - -
Peer fitness - - - -
Bad Debt Expense - - - -
Miscellaneous 8,617 8,617 21,662 (13,045)
Operational Reserves
Contingency - - - -
Subtotal-Operating expenditures 6,220,636 6,491,180 6,099,920 391,260
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 87 of 111
STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL
GENERAL FUND-DETAILED STATEMENT-NN (CONTINUED)
Year Ended September 30, 2021
General Fund
Variance
Original Final Favorable
Capital outlay: Budget Budget Actual (Unfavorable)
Land - - - -
Station improvements 279,564 279,564 209,432 70,132
Fire&rescue equipment 138,394 138,394 107,440 30,954
Protective gear - - - -
Medical equipment 1,199,823 1,199,823 1,157,624 42,199
Station equipment - - - -
Communication equipment 132,678 - - -
Office equipment - - - -
Computers 199,322 73,984 31,361 42,623
TRT 11,315 11,315 9,144 2,171
Vehicle purchase 30,464 17,936 1,152,196 (1,134,260)
Shop equipment 11,315 11,315 13,021 (1,706)
Hazardous materials equipment 6,441 6,441 7,295 (854)
DRT-HazMat Equipment - - 72,243 (72,243)
Fire apparatus 282,880 1,022,720 - 1,022,720
Dive equipment - - - -
Subtotal-Capital outlay 2,292,196 2,761,492 2,759,756 1,736
Debt service:
Principal reduction 459,687 598,398 598,398 -
Interest and fiscal charges 73,560 86,409 86,409 -
Subtotal-Debt service 533,247 684,807 684,807 -
Reserves:
Reserves 13,538,176 13,379,442 - 13,379,442
TOTAL EXPENDITURES 52,568,768 53,542,535 39,219,606 14,322,929
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (968,384) (1,209,485) (2,387,634) (1,178,149)
OTHER FINANCING SOURCES AND(USES)
Proceeds from capital lease 963,162 963,162 1,106,574 143,412
Proceeds from disposition of capital assets 5,222 246,323 327,820 81,497
Transfers in - - - -
Transfers out - - _ -
TOTAL OTHER FINANCING SOURCES AND(USES) 968,384 1,209,485 1,434,394 224,909
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES $ - $ - (953,240) $ (953,240)
FUND BALANCE-Beginning 16,933,407
FUND BALANCE-Ending $ 15,980,167
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 88 of 111
STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL - GENERAL FUND -
SUMMARY STATEMENT-BCI
Year Ended September 30, 2021
General Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Ad Valorem taxes $ 7,445,069 $ 7,445,069 $ 7,606,105 $ 161,036
Intergovernmental revenue:
State firefighter supplement 9,331 9,331 - (9,331)
Federal grants 31,677 31,677 - (31,677)
Other intergovernmental - - - -
Charges for services 67,704 69,104 - (69,104)
Miscellaneous:
Interest 51,600 51,600 15,762 (35,838)
Other 38,693 38,693 22,174 (16,519)
Subtotal-revenues 7,644,074 7,645,474 7,644,041 (1,433)
Cash brought forward 2,256,643 2,904,072 - (2,904,072)
TOTAL REVENUES 9,900,717 10,549,546 7,644,041 (2,905,505)
EXPENDITURES
Current
Public safety
Personnel services 4,464,607 4,500,506 4,418,538 81,968
Operating expenditures 988,170 1,028,452 972,120 56,332
Capital outlay 341,300 411,178 410,921 257
Debt service:
Principal reduction 68,446 89,100 89,100 -
Interest and fiscal charges 10,953 12,866 12,866 -
Reserves 4,171,431 4,687,533 - 4,687,533
TOTAL EXPENDITURES 10,044,907 10,729,635 5,903,545 4,826,090
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (144,190) (180,089) 1,740,496 1,920,585
OTHER FINANCING SOURCES AND USES
Proceeds from capital lease 143,412 143,412 - (143,412)
Proceeds from disposition of capital assets 778 36,677 - (36,677)
Transfer in/(out) - - - -
TOTAL OTHER FINANCING SOURCES
AND USES 144,190 180,089 - _ (180,089)
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES $ - $ - 1,740,496 $ 1,740,496
FUND BALANCE-Beginning 2,904,072
FUND BALANCE-Ending $ 4,644,568
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 89 of 111
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL -
GENERAL FUND -DETAILED STATEMENT-BCI
Year Ended September 30,2021
General Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Ad Valorem taxes $ 7,445,069 $ 7,445,069 $ 7,606,105 $ 161,036
Intergovernmental revenue:
State firefighter supplement 9,331 9,331 - (9,331)
Federal grants 31,677 31,677 - (31,677)
Other intergovernmental - - - -
Charges for services 67,704 69,104 - (69,104)
Miscellaneous:
Interest 51,600 51,600 15,762 (35,838)
Other 38,693 38,693 22,174 (16,519)
Subtotal-revenues 7,644,074 7,645,474 7,644,041 (1,433)
Cash brought forward _ 2,256,643 2,904,072 - (2,904,072)
TOTAL REVENUES 9,900,717 10,549,546 7,644,041 (2,905,505)
EXPENDITURES
Current
Public safety
Personnel services:
Salaries
Firefighters&Admin. 2,523,469 2,523,469 2,440,531 82,938
Salaries-harmonization - - - -
Commissioners 3,888 3,888 3,888 -
Overtime 104,933 104,933 150,405 (45,472)
Vacation pay 23,328 23,328 18,183 5,145
Sick leave 107,068 107,068 104,468 2,600
Incentives and holiday pay 111,733 111,733 121,864 (10,131)
Payroll taxes
Social Security 216,975 216,975 211,543 5,432
Benefits
Retirement 517,647 517,647 527,861 (10,214)
Health insurance 704,836 704,836 643,814 61,022
Disability insurance 13,293 13,293 10,141 3,152
Benefits harmonization - - - -
Unemployment - - 554 (554)
Workers compensation 103,583 103,583 103,143 440
Medical clinic/employee physicals 31,780 31,780 31,807 (27)
Post employment health plan(PEHP) 1,296 37,195 49,313 (12,118)
Retirement recognition 778 778 1,023 (245)
Subtotal-Personnel services 4,464,607 4,500,506 4,418,538 81,968
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 90 of 111
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL -
GENERAL FUND-DETAILED STATEMENT-BCI (CONTINUED)
Year Ended September 30, 2021
General Fund
Variance
Original Final Favorable
Operating expenditures: Budget Budget Actual (Unfavorable)
Insurance 65,811 65,811 65,157 654
Uniforms 19,670 19,670 18,647 1,023
Communications 5,005 24,760 23,596 1,164
Telephone 52,942 52,942 48,928 4,014
Utilities 34,214 34,214 34,459 (245)
Maintenance
Vehicle 65,396 65,396 63,279 2,117
Equipment 10,505 10,505 1,439 9,066
Computer 90,555 109,217 121,661 (12,444)
Hydrant 9,720 9,720 9,587 133
Building 68,113 68,113 74,218 (6,105)
Supplies
Office 7,776 7,776 7,703 73
Protective gear 58,220 58,220 54,127 4,093
Station 9,331 9,331 9,062 269
Emergency medical 23,296 23,296 33,759 (10,463)
Enterprise Lease/Rental 20,244 20,244 18,248 1,996
Equipment
Office 4,018 4,018 7,078 (3,060)
Fire 38,460 38,460 27,926 10,534
Shop 4,121 4,121 6,407 (2,286)
Warehouse/logistics 648 648 649 (1)
Professional and other fees
Legal and professional 85,925 85,925 48,434 37,491
Property appraiser fees 48,975 48,975 54,582 (5,607)
Tax collector fees 154,901 154,901 152,249 2,652
Accounting 8,424 8,424 7,556 868
Miscellaneous
Travel 11,567 11,567 3,624 7,943
Public information officer 3,525 3,525 2,805 720
Public education officer - - - -
Fuel and oil 36,612 36,612 31,366 5,246
Legal advertisements 1,244 1,244 1,831 (587)
Dues and subscriptions 1,449 1,449 1,729 (280)
CERT team 1,296 1,296 899 397
Dive team 1,611 1,611 1,561 50
Fire prevention 2,767 2,767 3,383 (616)
Training 26,626 26,626 17,656 8,970
Hazardous materials 2,627 2,627 4,664 (2,037)
Technical rescue 9,479 11,344 10,040 1,304
Boat team 1,814 1,814 590 1,224
K-9 search and rescue - - - -
Miscellaneous 1,283 1,283 3,221 (1,938)
Operational Reserves
Contingency - - - -
Subtotal-Operating expenditures 988,170 1,028,452 972,120 56,332
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 91 of 111
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE -BUDGET AND ACTUAL -
GENERAL FUND -DETAILED STATEMENT-BCI (CONTINUED)
Year Ended September 30, 2021
General Fund
Variance
Original Final Favorable
Capital outlay: Budget Budget Actual (Unfavorable)
Land - - - -
Station improvements 41,626 41,626 31,184 10,442
Fire&rescue equipment 20,606 20,606 15,998 4,608
Protective gear - - - -
Medical equipment 178,650 178,650 172,367 6,283
Station equipment - - - -
Communication equipment 19,755 - - -
Computers 29,678 11,016 4,670 6,346
TRT 1,685 1,685 1,362 323
Hazardous material equipment 959 959 1,086 (127)
DRT-HazMat Equipment - - 10,757 (10,757)
Vehicle purchase 4,536 2,671 2,974 (303)
Fire apparatus 42,120 152,280 168,584 (16,304)
Shop equipment 1,685 1,685 1,939 (254)
Dive equipment - - - -
Subtotal-Capital outlay 341,300 411,178 410,921 257
Debt service:
Principal reduction 68,446 89,100 89,100 -
Interest and fiscal charges 10,953 12,866 12,866 -
Subtotal-Debt service 79,399 101,966 101,966 -
Reserves:
Reserves 4,171,431 4,687,533 - 4,687,533
TOTAL EXPENDITURES 10,044,907 10,729,635 5,903,545 4,826,090
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (144,190) (180,089) 1,740,496 1,920,585
OTHER FINANCING SOURCES AND(USES)
Proceeds from capital lease 143,412 143,412 - (143,412)
Proceeds from disposition of capital assets 778 36,677 - (36,677)
Transfer in/(out) - - - -
TOTAL OTHER FINANCING SOURCES AND(USES) 144,190 180,089 - (180,089)
EXCESS OF REVENUES AND OTHER FINANCING
SOURCES OVER(UNDER)EXPENDITURES
AND OTHER FINANCING USES $ - $ - 1,740,496 $ 1,740,496
FUND BALANCE-Beginning 2,904,072
FUND BALANCE-Ending $ 4,644,568
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 92 of 111
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE -COMBINED SERVICE DELIVERY AREAS-
BUDGET AND ACTUAL- IMPACT FEE FUND - SUMMARY STATEMENT
Year Ended September 30, 2021
Impact Fee Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Fees:
Impact fees $ 1,000,000 $ 70,337 $ 69,729 $ (608)
Impact Fees-Collected/Deferred - 929,663 - (929,663)
Miscellaneous:
Interest 15,000 15,000 3,882 (11,118)
Transfer from General Fund - - - -
Other - - - -
Subtotal-revenues 1,015,000 1,015,000 73,611 (941,389)
Cash brought forward 755,756 1,608,974 - (1,608,974)
TOTAL REVENUES 1,770,756 2,623,974 73,611 (2,550,363)
EXPENDITURES
Current
Public safety
Operating expenditures 19,212 19,212 14,163 5,049
Capital outlay - - - -
Debt service:
Principal 57,500 57,500 57,500 -
Interest and fiscal charges 8,625 8,625 1,948 6,677
Reserves 1,685,419 2,538,637 - 2,538,637
TOTAL EXPENDITURES 1,770,756 2,623,974 73,611 2,550,363
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES - - - -
OTHER FINANCING SOURCES AND(USES)
Transfers in(out) - - - -
TOTAL OTHER FINANCING SOURCES
AND(USES) - - - -
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES $ - $ - - $ -
FUND BALANCE-Beginning -
FUND BALANCE-Ending $ -
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 93 of 111
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE -COMBINED SERVICE DELIVERY AREAS-
BUDGET AND ACTUAL-IMPACT FEE FUND -DETAILED STATEMENT
Year Ended September 30,2021
Impact Fee Fund
Variance
Original Final Favorable
REVENUES Budget Budget Actual (Unfavorable)
Fees:
Impact fees $ 1,000,000 $ 70,337 $ 69,729 $ (608)
Impact Fees-Collected/Deferred - 929,663 - (929,663)
Miscellaneous:
Interest 15,000 15,000 3,882 (11,118)
Transfer from General Fund - - - -
Other - - - -
Subtotal-revenues 1,015,000 1,015,000 73,611 (941,389)
Cash brought forward 755,756 1,608,974 - (1,608,974)
TOTAL REVENUES 1,770,756 2,623,974 73,611 (2,550,363)
EXPENDITURES
Operating expenditures:
Impact fee collection 14,212 14,212 14,163 49
Professional fees 5,000 5,000 - 5,000
Subtotal-Operating expenditures 19,212 19,212 14,163 5,049
Capital outlay:
Preplanning - - - -
Construction in progress - - - -
Emergency signal-station#42 - - - -
Temporary station lease - - - -
Subtotal-Capital outlay - - - -
Debt service:
Principal 57,500 57,500 57,500 -
Interest and fiscal charges 8,625 8,625 1,948 6,677
Subtotal-Debt service 66,125 66,125 59,448 6,677
Reserves: 1,685,419 2,538,637 - 2,538,637
TOTAL EXPENDITURES 1,770,756 2,623,974 73,611 2,550,363
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES - - - -
OTHER FINANCING SOURCES AND(USES)
Transfers in(out) - - - -
TOTAL OTHER FINANCING SOURCES
AND(USES) - - - -
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER FINANCING USES $ - $ - - $ -
FUND BALANCE-Beginning -
FUND BALANCE-Ending $ -
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 94 of 111
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL -COMBINED SERVICE DELIVERY AREA-
INSPECTION FEE FUND - SUMMARY STATEMENT
Year Ended September 30, 2021
Inspection Fee Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Charges for services
Inspection fees $ 880,000 $ 1,485,000 $ 1,514,889 $ 29,889
Plan review fees 1,150,000 1,150,000 1,124,203 (25,797)
Miscellaneous:
Interest 5,000 1,000 1,088 88
Other 1,000 - - -
Subtotal-revenues 2,036,000 2,636,000 2,640,180 4,180
Cash brought forward 1,306 164,820 - (164,820)
TOTAL REVENUES 2,037,306 2,800,820 2,640,180 (160,640)
EXPENDITURES
Current
Public safety
Personnel services 1,844,435 2,044,435 1,913,563 130,872
Operating expenditures 118,000 118,000 111,806 6,194
Capital outlay - - - -
Reserves 74,871 638,385 - 638,385
TOTAL EXPENDITURES 2,037,306 2,800,820 2,025,369 775,451
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES $ - $ - 614,811 $ 614,811
FUND BALANCE-Beginning 164,820
FUND BALANCE-Ending $ 779,631
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 95 of 111
STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL -COMBINED SERVICE
DELVERY AREA-INSPECTION FEE FUND-DETAILED STATEMENT
Year Ended September 30, 2021
Inspection Fee Fund
Variance
Original Final Favorable
Budget Budget Actual (Unfavorable)
REVENUES
Charges for services:
Inspection fees $ 880,000 $ 1,485,000 $ 1,514,889 $ 29,889
Plan review fees 1,150,000 1,150,000 1,124,203 (25,797)
Miscellaneous:
Interest 5,000 1,000 1,088 88
Other 1,000 - - -
Subtotal-revenues 2,036,000 2,636,000 2,640,180 4,180
Cash brought forward 1,306 164,820 - (164,820)
TOTAL REVENUES 2,037,306 2,800,820 2,640,180 (160,640)
EXPENDITURES
Current
Public safety
Personnel services:
Salaries
Regular 1,137,271 1,337,271 1,223,783 113,488
Overtime 45,000 35,000 34,900 100
Sick leave 40,000 50,000 50,523 (523)
Vacation pay - - - -
Professional/Incentives and holiday pay 3,600 3,600 8,400 (4,800)
Payroll taxes
Social Security 91,906 101,906 100,797 1,109
Benefits
Retirement 144,998 164,998 163,089 1,909
Post employment health plan(PEHP) - - - -
Health insurance 313,448 283,448 281,220 2,228
Disability insurance 6,329 6,329 - 6,329
Medical clinic/employee physicals 15,202 15,202 - 15,202
Unemployment compensation - - - -
Workers compensation 46,681 46,681 50,851 (4,170)
Subtotal-Personnel services 1,844,435 2,044,435 1,913,563 130,872
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 96 of 111
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL -COMBINED SERVICE
DELVERY AREA-INSPECTION FEE FUND-DETAILED STATEMENT (CONTINUED)
Year Ended September 30, 2021
Inspection Fee Fund
Variance
Original Final Favorable
Operating expenditures: Budget Budget Actual (Unfavorable)
Uniforms $ - $ - $ 1,415 $ (1,415)
Telephone - - - -
Utilities - - - -
Rent 50,000 50,000 50,000 -
Maintenance
Computer software&supplies 50,000 50,000 39,938 10,062
Hydrant - - - -
Supplies
Office - - 135 (135)
Miscellaneous
Dues&subscriptions - - 1,460 (1,460)
Fire prevention - - 6,967 (6,967)
Training 10,000 10,000 6,312 3,688
Travel 8,000 8,000 5,579 2,421
Subtotal-Operating expenditures 118,000 118,000 111,806 6,194
Capital outlay:
Office facility - - - -
Vehicles - - - -
Subtotal-Capital outlay - - - -
Debt service:
Principal reduction -
Interest and fiscal charges - - - -
Subtotal-Debt service - - - -
Reserves: 74,871 638,385 - 638,385
TOTAL EXPENDITURES 2,037,306 2,800,820 2,025,369 775,451
EXCESS OF REVENUES
OVER(UNDER) EXPENDITURES $ - $ - 614,811 $ 614,811
FUND BALANCE-Beginning 164,820
FUND BALANCE-Ending $ 779,631
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
SCHEDULE OF DISTRICT'S PROPORTIONATE SHARE OF THE NET
PENSION LIABILITY -FLORIDA RETIREMENT SYSTEM(FRS) PENSION
PLAN (1)
Fiscal year ending September 30: 2021 2020 2019 2018
District's proportion of the net pension liability 0.019684338% 0.021696122% 0.027233351% 0.031414516%
District's proportionate share of the net pension liability $ 1,486,928 $ 9,403,419 $ 9,378,787 $ 9,462,215
District's covered-employee payroll $ 5,145,270 $ 4,887,399 $ 5,436,629 $ 5,753,921
District's proportionate share of the net pension liability
as a percentage of its covered-employee payroll 28.90% 192.40% 172.51% 164.45%
Plan fiduciary net position as a percentage of the
total pension liability 96.40% 78.85% 82.61% 84.26%
Notes: (1)The amounts presented for each fiscal year were determined as of September 30.
SCHEDULE OF DISTRICT CONTRIBUTIONS-
FLORIDA RETIREMENT SYSTEM (FRS)PENSION PLAN (1)
2021 2020 2019 2018
Contractually required contribution $ 845,377 $ 775,095 $ 887,696 $ 912,380
Contributions in relation to the contractually
required contribution 845,377 775,095 887,696 912,380
Contribution deficiency(excess) $ - $ - $ - $ -
District's covered-employee payroll $ 5,145,270 $ 4,887,399 $ 5,436,629 $ 5,753,921
Contributions as a percentage of covered-employee
payroll 16.43% 15.86% 16.33% 15.86%
Notes: (I)The amounts presented for each fiscal year were determined as of September 30.
GASB 68 requires information for 10 years. However,until a full 10-year trend is compiled,
governments should present information for only those years for which information is available.
Note: Measurement date was June 30 within the respective fiscal year.
Page 97 of 111
2017 2016 2015 2014
0.038802719% 0.040983896% 0.038209683% 0.041592399%
$ 11,477,584 $ 10,348,466 $ 4,935,293 $ 2,537,748
$ 6,933,311 $ 6,745,995 $ 6,326,722 $ 6,293,887
165.54% 153.40% 78.01% 40.32%
83.89% 84.88% 92.00% 96.09%
2017 2016 2015 2014
$ 1,119,238 $ 1,099,170 $ 967,270 $ 971,792
1,119,238 1,099,170 967,270 971,792
$ - $ - $ - $
$ 6,933,311 $ 6,745,995 $ 6,326,722 $ 6,293,887
16.14% 16.29% 15.29% 15.44%
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
SCHEDULE OF DISTRICT'S PROPORTIONATE SHARE OF THE NET
PENSION LIABILITY -HEALTH INSURANCE SUBSIDY(HIS)PENSION
PLAN (1)
Fiscal year ending September 30: 2021 2020 2019 2018
District's proportion of the net pension liability 0.014266437% 0.014221549% 0.016634678% 0.019013168%
District's proportionate share of the net pension liability $ 1,749,993 $ 1,736,428 $ 1,861,254 $ 2,012,375
District's covered-employee payroll $ 5,145,270 $ 4,887,399 $ 5,436,629 $ 5,753,921
District's proportionate share of the net pension liability
as a percentage of its covered-employee payroll 34.01% 35.53% 34.24% 34.97%
Plan fiduciary net position as a percentage of the
total pension liability 3.56% 3.00% 2.63% 2.15%
Notes: (1)The amounts presented for each fiscal year were determined as of September 30.
SCHEDULE OF DISTRICT CONTRIBUTIONS-
HEALTH INSURANCE SUBSIDY (HIS) PENSION PLAN (1)
2021 2020 2019 2018
Contractually required contribution $ 53,960 $ 58,340 $ 66,816 $ 68,674
Contributions in relation to the contractually
required contribution 53,960 58,340 66,816 68,674
Contribution deficiency(excess) $ - $ - $ - $ -
District's covered-employee payroll $ 5,145,270 $ 4,887,399 $ 5,436,629 $ 5,753,921
Contributions as a percentage of covered-employee
payroll 1.05% 1.19% 1.23% 1.19%
Notes: (1)The amounts presented for each fiscal year were determined as of September 30.
GASB 68 requires information for 10 years. However,until a full 10-year trend is compiled,
governments should present information for only those years for which information is available.
Note: Measurement date was June 30 within the respective fiscal year.
Page 98 of 111
2017 2016 2015 2014
0.021233558% 0.021530658% 0.021138780% 0.02 1 145 042%
$ 2,270,390 $ 2,509,309 $ 2,155,823 $ 1,977,113
$ 6,933,311 $ 6,745,995 $ 6,326,722 $ 6,293,887
32.75% 37.20% 34.07% 31.41%
1.64% 0.97% 0.50% 0.99%
2017 2016 2015 2014
$ 84,244 $ 87,198 $ 78,787 $ 65,973
84,244 87,198 78,787 65,973
$ - $ - $ - $ -
$ 6,933,311 $ 6,745,995 $ 6,326,722 $ 6,293,887
1.22% 1.29% 1.25% 1.05%
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 99 of 111
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION-FRS/HIS
September 30, 2021
Changes of Assumptions
Actuarial assumptions for both cost-sharing defined benefit plans are reviewed
annually by the Florida Retirement System Actuarial Assumptions Conference. The
FRS Pension Plan has a valuation performed annually. The HIS Program has a
valuation performed biennially that is updated for GASB reporting in the year a
valuation is not performed. The most recent experience study for the FRS Pension
Plan was completed for the period July 1, 2013 through June 30, 2018. Because the
HIS Program is funded on a pay-as-you-go basis,no experience study has been
completed for that program. The actuarial assumptions that determined the total
pension liability for the HIS Program were based on certain results of the most recent
experience study for the FRS Pension Plan.
The total pension liability for each cost-sharing defined benefit plan was determined
using the individual entry age actuarial cost method. Inflation increases for both plans
is assumed at 2.40%. Payroll growth, including inflation, for both plans is assumed at
3.25%. Both the discount rate and the long-term expected rate of return used for
FRS Pension Plan investments remained unchanged at 6.80%. The Plan's fiduciary
net position was projected to be available to make all projected future benefit
payments of current active and inactive employees. Therefore, the discount rate for
calculating the total pension liability is equal to the long-term expected rate of return.
Because the HIS Program uses a pay-as-you-go funding structure, a municipal bond
rate was decreased from 2.21% to 2.16% and was used to determine the total pension
liability for the program(Bond Buyer General Obligation 20-Bond Municipal Bond
Index). Mortality assumptions for both plans were based on the Generational
PUB-2010 with Projection Scale MP-2018.
Florida Retirement System Pension Plan
There were changes in actuarial assumptions. As of June 30, 2021, the inflation rate
assumption decreased to 2.40 percent from 2.60, the real payroll growth assumption
was increased to .85 percent from .65, and the overall payroll growth rate
assumption remained at 3.25 percent. The long-term expected rate of return
remained unchanged at 6.80 percent.
Health Insurance Subsidy Pension Plan
The municipal rate used to determine total pension liability decreased from 2.21
percent to 2.16 percent.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 100 of 111
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION-FRS/HIS
September 30, 2021
Pension Expense and Deferred Outflows/Inflows of Resources
In accordance with GASB 68,paragraphs 54 and 71, changes in the net pension
liability are recognized in pension expense in the current measurement period, except
as indicated below. For each of the following, a portion is recognized in pension
expense in the current reporting period, and the balance is amortized as deferred
outflows or deferred inflows of resources using a systematic and rational method over
a closed period, as defined below:
• Differences between expected and actual experience with regard to economic
and demographic factors - amortized over the average expected remaining
service life of all employees that are provided with pensions through the
pension plan(active and inactive employees)
• Changes of assumptions or other inputs - amortized over the average
expected remaining service life of all employees that are provided with
pensions through the pension plan(active and inactive employees)
• Changes in proportion and differences between contributions and
proportionate share of contributions - amortized over the average expected
remaining service life of all employees that are provided with pensions through
the pension plan(active and inactive employees)
• Differences between expected and actual earnings on pension plan investments
- amortized over five years
Employer contributions to the pension plans from employers are not included in
collective pension expense. However, employee contributions are used to reduce
pension expense.
The average expected remaining service life of all employees provided with pensions
through the pension plans at June 30, 2021 was reduced from 5.9 to 5.7 years for
FRS and was reduced from 7.2 years to 6.4 years for HIS.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND
RELATED RATIOS GASB 75
Changes in Employer's Net OPEB Liability and Related Ratios as of September 30:
Net OPEB Liability 2021 2020 2019
Service Cost $ 663,293 $ 557,861 $ 684,930
Interest Cost on Total OPEB Liability 372,430 385,797 387,918
Changes in Benefit Terms - - -
Differences Between Expected and Actual Experience 165,655 - 417,788
Changes in Assumptions 34,233 591,573 (2,363,827)
Benefit Payments (484,966) (449,043) (406,464)
Net Change in net OPEB Liability 750,645 1,086,188 (1,279,655)
Net OPEB Liability-Beginning of Year 9,980,141 8,893,953 10,173,608
Net OPEB Liability-End of Year $ 10,730,786 $ 9,980,141 $ 8,893,953
Measurement Date 9/30/2020 9/30/2019 9/30/2018
NOTE: Information for FY 2017 and earlier is not available.
Plan Fiduciary Net Position as of September 30:
2021 2020 2019
Contributions-Employer(including PEHP) $ 484,966 $ 449,043 $ 406,464
Net Investment Income - - -
Benefit Payments (484,966) (449,043) (406,464)
Administrative Expense - -Net Change in Fiduciary Net Position - - -
Fiduciary Net Position-Beginning of Year - - -
Fiduciary Net Position-End of Year $ - $ - $ -
Net OPEB Liability 10,730,786 9,980,141 8,893,953
Fiduciary Net Position as a%of Net OPEB Liability 0.00% 0.00% 0.00%
Covered-Employee Payroll*
Net OPEB Liability as a%of Payroll *
*Because this OPEB plan does not depend of salary,no information is provided.
NOTE: Information for FY 2017 and earlier is not available.
Notes to the Schedule:
Benefit Changes None
Changes of Assumptions The discount rate was changed as follows:
9/30/18 3.64%
9/30/19 4.18%
9/30/20 3.58%
9/30/21 2.14%
Population covered by Plan: 291
Also the assumptions changed for healthcare costs and premiums,healthcare cost trends and salary increases,
retirment,termination and disability rates.
Plan has no specific trust established.$0 assigned for OPEB.
Page 101 of 111
2018
$ 723,937
326,072
(620,125)
(373,760)
56,124
10,117,484
$ 10,173,608
9/30/2017
2018
$ 373,760
(373,760)
10,173,608
0.00%
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
SCHEDULE OF CHANGES IN THE DISTRICT'S NET PENSION LIABILITY AND
RELATED RATIOS (UNAUDITED)-FIREFIGHTERS' PENSION TRUST FUND
2021 2020 2019
TOTAL PENSION LIABILITY:
Net Change in Total Penson Liability $ 15,964,922 $ 13,059,479 $ 13,150,199
Total Pension Liability-Beginning of Year 110,312,027 97,252,548 84,102,349
Total Pension Liability-End of Year $ 126,276,949 $ 110,312,027 $ 97,252,548
2021 2020 2019
PLAN FIDUCIARY NET POSITION:
Net Change in Fiduciary Net Position $ 26,671,007 $ 12,933,225 $ 7,964,763
Fiduciary Net Position-Beginning of Year 101,826,675 88,893,450 80,928,687
Fiduciary Net Position-End of Year $ 128,497,682 $ 101,826,675 $ 88,893,450
NET PENSION LIABIITY-ENDING $ (2,220,733) $ 8,485,352 $ 8,359,098
PLAN FIDUCIARY ENDING NET POSITION AS A
PERCENTAGE OF TOTAL PENSION
LIABILITY 101.76% 92.31% 91.40%
COVERED EMPLOYEE PAYROLL $ 15,825,800 $ 14,829,151 $ 14,434,146
NET PENSION LIABILITY AS A PERCENTAGE OF
COVERED EMPLOYEE PAYROLL -14.03% 57.22% 57.91%
This schedule is presented as required by accounting principles generally accepted in the United States of
America,however,until a full 10-year trend is completed,information is presented for those years available.
The accompanying independent auditor's report should be read with these supplemental schedules.
Page 102 of 111
2018 2017 2016 2015
$ 10,364,336 $ 12,030,957 $ 10,165,305 $ 4,074,169
73,738,012 61,707,055 51,541,750 47,467,581
$ 84,102,348 $ 73,738,012 S 61,707,055 $ 51,541,750
2018 2017 2016 2015
$ 10,180,873 $ 12,234,865 $ 6,978,753 $ 2,344,624
70,747,813 58,512,948 51,534,195 49,189,571
$ 80,928,686 $ 70,747,813 $ 58,512,948 $ 51,534,195
$ 3,173,662 $ 2,990,199 $ 3,194,107 $ 7,555
96.23% 95.94% 94.82% 99.99%
$ 13,739,853 $ 13,771,976 $ 11,890,295 $ 9,674,942
23.10% 21.71% 26.86% 0.08%
The accompanying independent auditor's report should be read with these supplemental schedules.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
SCHEDULE OF DISTRICT CONTRIBUTIONS (UNAUDITED) -
FIREFIGHTERS' PENSION TRUST FUND
2021 2020 2019 2018
Contractually required contribution $ 3,606,617 $ 2,306,381 $ 2,769,139 $ 2,990,030
Contributions in relation to the contractually
required contribution 3,606,617 2,306,381 2,769,139 2,990,030
Contribution deficiency(excess) $ - $ - $ - $ _
District's covered-employee payroll $ 15,825,800 $ 14,829,151 $ 14,434,146 $ 13,739,853
Contributions as a percentage of covered-employee
payroll 22.79% 15.55% 19.18% 21.76%
GASB 68 requires information for 10 years. However,until a full 10-year trend is compiled,
governments should present information for only those years for which information is available.
Note: Measurement date was September 30 within the respective fiscal year.
Page 103 of 111
2017 2016 2015 2014
$ 2,933,393 $ 1,735,437 $ 1,107,133 $ 1,518,926
2,933,393 1,735,437 1,107,133 1,518,926
$ - $ - $ - $
$ 13,771,976 $ 11,890,295 $ 9,671,942 $ 8,770,495
21.30% 14.60% 11.45% 17.32%
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 104 of 111
SCHEDULE OF INVESTMENT RETURNS-(UNAUDITED)
FIREFIGHTERS' PENSION TRUST FUND
Annual Money-
Weighted Rate
of return net of
Year Ended investment
September 30: expense
2021 20.28%
2020 9.40%
2019 3.58%
2018 8.82%
2018 13.28%
2016 7.21%
2015 (0.68%)
2014 9.31%
2013 12.79%
2012 15.23%
2011 (2.12%)
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 105 of 111
NOTES TO THE REQUIRED SUPPLEMENTARY INFORMATION -
FIREFIGHTERS' PENSION TRUST FUND
September 30, 2021
Firefighters' Pension
Trust Fund
Valuation date 10/01/20
Actuarial cost method Entry Age Normal
Amortization method Level dollar, closed
Mortality table MP-2018 Combined Healthy
Remaining amortization period 27 years(as of 10/1/17)
Actuarial asset valuation method 5 Year Smoothed Market
Actuarial assumptions:
Investment rate 7.0%(net of fees)
Projected salary increase Graduated based on Service
(9%per year for first 10 years &
(3%per year for 10 or more years)
Inflation 2.5%
Post retirement cost of living
adjustment 3%
Measurement date September 30, 2021
Changes of Assumptions
Member contribution rate changed effective January 1, 2019 from 3%to 8.48%.
District still pays .5%of member contribution.
Benefit changes effective January 1, 2019:
Increased benefit multiplier to 3.53% for all years of service.
Effective July 1, 2019, the Plan must consider a firefighter permanently and totally
disabled if diagnosed with cancer per Laws of Florida, Chapter 2019-21.
For the year ended September 30, 2021, the following changes to assumptions
occurred: 1) investment rate changed from 7.2% to 7.0%.
ADDITIONAL REPORTS
AAccounta tTTuscAN
s
Florida Institute of Certified Public Accountants
& Con p1r1`rt P� American Institute of Certified Public Accountants
Private Companies Practice Section
Certified Public Accountants&Consultants Tax Division
Page 106 of 111
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL
OVER FINANCIAL REPORTING AND ON COMPLIANCE
AND OTHER MATTERS BASED ON AN AUDIT OF BASIC
FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE
WITH GOVERNMENT AUDITING STANDARDS
Board of Commissioners
North Collier Fire Control and Rescue District
1885 Veterans Park Drive
Naples, Florida 34109-0492
We have audited, in accordance with auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States of America, the basic financial
statements of the governmental activities and each major and non-major fund of North Collier
Fire Control and Rescue District(the "District") as of and for the year ended September 30,
2021, and the related notes to the financial statements which collectively comprise the District's
basic financial statements as listed in the table of contents and have issued our report thereon
dated May 13, 2022. Other auditors audited the financial statements of the District's Firefighters'
Pension Trust Fund, as described in our report on the District's financial statements. This report
does not include the results on the other auditors'testing of internal control over financial reporting
or compliance and other matters that are reported on separately by those auditors.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District's
internal control over financial reporting (internal control) as a basis for designing audit procedures
that are appropriate in the circumstances for the purpose of expressing our opinion on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the District's
internal control. Accordingly,we do not express an opinion on the effectiveness of the District's
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions,to prevent,
or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or
INTEGRITY SERVICE EXPERIENCE
12621 World Plaza Lane, Building 55 •Fort Myers,FL 33907 • Phone: (239)333-2090•Fax: (239) 333-2097
Page 107 of 111
combination of deficiencies, in internal control such that there is a reasonable possibility that a
material misstatement of the basic financial statements will not be prevented or detected and
corrected on a timely basis. A significant deficiency is a deficiency, or a combination of
deficiencies, in internal control that is less severe than a material weakness,yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be
material weaknesses or significant deficiencies. Given these limitations, during our audit we did
not identify any deficiencies in internal control that we consider to be material weaknesses, as
defined previously. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether North Collier Fire Control and Rescue
District's financial statements are free from material misstatement,we performed tests of its
compliance with certain provisions of laws,regulations, contracts and grant agreements,
noncompliance with which could have a direct and material effect on the financial statements.
However,providing an opinion on compliance with those provisions was not an objective of our
audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no
instances of noncompliance that are required to be reported under Government Auditing
Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
District's internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the District's internal control and
compliance. Accordingly,this communication is not suitable for any other purpose.
7A,1A)-04) 444p/ ,
TUSCAN&COMPANY, P.A.
Fort Myers, Florida
May 13, 2022
(/ 3 TUSCAN Affiliations
Florida Institute of Certified Public Accountants
& Company, PA American Institute of Certified Public Accountants
Private Companies Practice Section
Certified Public Accountants&Consultants Tax Division
Page 108 of 111
INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE
WITH SECTION 218.415,FLORIDA STATUTES
Board of Commissioners
North Collier Fire Control and Rescue District
1885 Veterans Park Drive
Naples, Florida 34109-0492
We have examined North Collier Fire Control and Rescue District's compliance with Section
218.415,Florida Statutes, regarding the investment of public funds during the year
ended September 30, 2021. Management is responsible for North Collier Fire Control and
Rescue District's compliance with those requirements. Our responsibility is to express an opinion
on North Collier Fire Control and Rescue District's compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the
American Institute of Certified Public Accountants and, accordingly, included examining, on a test
basis, evidence about North Collier Fire Control and Rescue District's compliance with those
requirements and performing such other procedures as we considered necessary in the
circumstances. We believe that our examination provides a reasonable basis for our opinion.
Our examination does not provide a legal determination on North Collier Fire Control and Rescue
District's compliance with specified requirements.
In our opinion,North Collier Fire Control and Rescue District complied, in all material respects,
with the aforementioned requirements for the year ended September 30,2021.
This report is intended solely for the information and use of the North Collier Fire Control and
Rescue District and the Auditor General, State of Florida, and is not intended to be and should not
be used by anyone other than these specified parties.
L-/,,,Ak„,,o
TUSCAN& COMPANY, P.A.
Fort Myers, Florida
May 13, 2022
INTEGRITY SERVICE EXPERIENCE
12621 World Plaza Lane, Building 55 •Fort Myers,FL 33907 •Phone: (239)333-2090•Fax: (239)333-2097
T TuscAN Affiliations
Florida Institute of Certified Public Accountants
OtB11aSlt PA American Institute of Certified Public Accountants Cy
Private Companies Practice Section
Certified Public Accountants&Consultants Tax Division
Page 109 of 111
INDEPENDENT AUDITOR'S REPORT TO MANAGEMENT
Board of Commissioners
North Collier Fire Control and Rescue District
1885 Veterans Park Drive
Naples, Florida 34109-0492
We have audited the accompanying basic financial statements of North Collier Fire Control and
Rescue District(the "District") as of and for the year ended September 30, 2021 and have issued
our report thereon dated May 13, 2022.
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America; the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States of America and Chapter
10.550, Rules of the Florida Auditor General. We have issued our Independent Auditor's Report
on Internal Control over Financial Reporting and Compliance and Other Matters based on an
audit of the financial statements performed in accordance with Government Auditing Standards
and Chapter 10.550, Rules of the Florida Auditor General. Disclosures in those reports, which
are dated May 13, 2022, should be considered in conjunction with this report to management.
Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor
General, which governs the conduct of local governmental entity audits performed in the State of
Florida. This letter included the following information, which is not included in the aforementioned
auditor's report:
• Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine
whether or not corrective actions have been taken to address findings and
recommendations made in the preceding annual financial audit report. The prior year
report contained no financially significant comments.
• Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the
management letter any recommendations to improve financial management. No such
recommendations were noted to improve financial management.
INTEGRITY SERVICE EXPERIENCE
12621 World Plaza Lane,Building 55 •Fort Myers,FL 33907 •Phone: (239)333-2090•Fax: (239)333-2097
Page 110 of 111
• Section 10.554(1)(i)3., Rules of the Auditor General,requires that we address
noncompliance with provisions of contracts or grant agreements, or abuse, that have an
effect on the financial statements that is less than material but more than inconsequential.
In connection with our audit, we did not have any such findings.
• Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official
title and legal authority for the primary government and each component unit of the
reporting entity be disclosed in the management letter,unless disclosed in the notes to
the financial statements. The District discloses this information in the notes to the
financial statements.
• Section 10.554(1)(i)5.a., Rules of the Auditor General,requires a statement be
included as to whether or not the local government entity has met one or more of the
conditions described in Section 218.503(1), Florida Statutes, and identification of the
specific condition(s)met. In connection with our audit, we determined that the District
did not meet any of the conditions described in Section 218.503(1), Florida Statutes.
• Pursuant to Sections 10.554(1)(i)5.b. and 10.556(7), Rules of the Auditor General,we
have applied financial condition assessment procedures. It is management's
responsibility to monitor the District's financial condition, and our financial condition
assessment was based in part on representations made by management and the review
of financial information provided by same. In connection with our audit, we determined
that the District did not meet any of the criteria of a deteriorating financial condition
described in Auditor General Rule Section 10.554(1)(i)(5).a.
• Pursuant to Section 10.554(1)(i)5b.2, Rules of the Auditor General, if a deteriorating
financial condition(s) is noted then a statement is so required along with the conditions
causing the auditor to make such a conclusion. No such conditions were noted.
• Pursuant to Section 10.554(1)(i)5.c., Rules of the Auditor General,requires a
statement indicating a failure, if any, of a component unit Special District to provide
financial information necessary to a proper reporting of the component unit within the
audited financial statements of this District(F.S. Section 218.39(3)(b)). There are no
known component special districts required to report within these financial statements.
• Pursuant to Section 10.554(1)(i)6, Rules of the Auditor General,requires disclosure of
certain unaudited data. See Exhibit 2.
Page 111 of 111
• Pursuant to Section 10.554(1)(i)7,Rules of the Auditor General,requires an
independent special district that imposes ad valorem taxes to disclose certain related
unaudited data. See Exhibit 2.
• Pursuant to Section 10.554(1)8, Rules of the Auditor General,requires an independent
special district that imposes a non-ad valorem special assessment to disclose certain
unaudited data. See Exhibit 2.
• Section 10.556(10)(a), Rules of the Auditor General,requires that the scope of our
audit to determine the District's compliance with the provisions of Section 218.415,
Florida Statutes,regarding the investment of public funds. In connection with our audit,
we determined that the District complied with Section 218.415, Florida Statutes as
reported in our Independent Accountant's Report on Compliance with Section
218.415, Florida Statutes dated May 13, 2022,included herein.
PRIOR YEAR COMMENTS:
There were no financially significant prior year comments.
CURRENT YEAR COMMENTS:
There were no financially significant comments noted.
Pursuant to Chapter 119,Florida Statutes,this management letter is a public record and its
distribution is not limited. Auditing standards generally accepted in the United States of America
require us to indicate that this letter is intended solely for the information and use of the Board of
Commissioners,management,the Auditor General of the State of Florida and other federal and
state agencies. This report is not intended to be and should not be used by anyone other than
these specified parties.
/dAAjelki
1114iipl
TUSCAN&COMPANY, P.A.
Fort Myers, Florida
May 13,2022
EXHIBIT 1
*.
AArso1
June 9, 2022
Auditor General's Office
Local Government Audits/342
Claude Pepper Building, Room 401
111 West Madison Street
Tallahassee, FL 32399-1450
We are pleased to note that the audit report for the fiscal year 2020/2021 for the North Collier Fire
Control and Rescue District reflected no current or prior year comments which require
management's response.
The Board of Fire Commissioners and management staff of the North Collier Fire Control &
Rescue District maintain their commitment to create and maintain internal controls, and policy and
procedures to insure accurate reporting, accountability and provide for the financial stability of the
District.
Sincerely,
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT
1885 Veterans Park Drive Naples, FL 34109•(239)597-3222•northcollierfire.com
FIRE CHIEF ELOY RICARDO
BOARD OF FIRE COMMISSIONERS
M.James Burke•Reginald Buxton•James A. Calamari•Norman E. Feder•J. Christopher Lombardo
EXHIBIT 2
EXHIBIT 2 Page 1
UNAUDITED
COMPLIANCE WITH REPORTING REQUIRED BY:
Auditor General Rule 10.554(1)(i)6
For a dependent special district or an independent special district, or a local
government entity that includes the information of a dependent special district as
provided in Section 218.39(3)(a), Florida Statutes, the following specific information
provided by management(with explanatory verbiage that the auditor provides no
assurance on the information:
a. The total number of district employees compensated in the last pay period of the
district's fiscal year being reported (see information required in Section
218.32(1)(e)2.a., Florida Statutes). 270 including 4 commissioners
b. The total number of independent contractors to whom nonemployee
compensation was paid in the last month of the district's fiscal year being
reported(see information required in Section 218.32(1)(e)2.b., Florida
Statutes). 19
c. All compensation earned by or awarded to employees,whether paid or accrued,
regardless of contingency(see information required in Section 218.32(1)(e)2.c.,
Florida Statutes). (Total wage compensation for the fiscal year being audited)
$23,226,086
d. All compensation earned by or awarded to nonemployee independent
contractors, whether paid or accrued,regardless of contingency(see information
required in Section 218.32(1)(e)2.d., Florida Statutes). (Amounts paid that
would be reported on a Form 1099 for FYE)
$ 864,784
e. Each construction project with a total cost of at least $65,000 approved by the
district that was scheduled to begin on or after October 1 of the fiscal year being
reported,together with the total expenditures for such project(see information
required in Section 218.32(1)(e)2.e., Florida Statutes). N/A
f. A budget variance report based on the budget adopted under section
189.016(4), Florida Statutes, before the beginning of the fiscal year reported if
the district amends a final adopted budget under Section 189.016(6), Florida
Statutes (see information required in Section 218.32(1)(e)3.,Florida Statutes).
If there were amendments then include budget variance (original budget vs.
actual at FYE). See attached page 3 -6.
Page 2
Auditor General Rule 10.554(1)(i)7
For an independent special district that imposes ad valorem taxes, the following
specific information provided by management(with explanatory verbiage that the
auditor provides no assurance on the information): (see information required in
Section 218.32(1)(e)4., Florida Statutes).
a. The millage rate or rates imposed by the district.
North Naples Service Delivery Area: 1.000
Big Corkscrew Service Delivery Area: 3.750
b. The current year gross amount of ad valorem taxes collected by or on behalf of
the district. $42,755,907
c. The total amount of outstanding bonds issued by the district and terms of such
bonds. N/A
Auditor General Rule 10.554(1)(i)8
For an independent special district that imposes non-ad valorem special assessments,
the following specific information provided by management (with explanatory
verbiage that the auditor provides no assurance on the information): (see information
required in Section 218.32(1)(e)5., Florida Statutes).
a. The rate or rated of such assessment imposed by the district.
N/A
b. The total amount of special assessments collected by or on behalf of the district.
N/A
c. The total amount of outstanding bonds issued by the district and the terms of
such bonds. N/A
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 3
STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL-GENERAL FUND-
SUMMARY STATEMENT-NN
Year Ended September 30, 2021
General Fund
Variance
Original Favorable
Budget Actual (Unfavorable)
REVENUES
Ad Valorem taxes $ 34,187,222 $ 35,149,802 $ 962,580
Intergovernmental revenue:
State firefighter supplement 62,669 56,643 (6,026)
Federal grants 212,741 595,438 382,697
Other Intergovernmental 24,000 18,800 (5,200)
Charges for services 454,696 755,435 300,739
Miscellaneous:
Interest 258,000 44,632 (213,368)
Other 190,915 211,222 20,307
Subtotal-revenues 35,390,243 36,831,972 1,441,729
Cash brought forward 16,210,141 - (16,210,141)
TOTAL REVENUES 51,600,384 36,831,972 (14,768,412)
EXPENDITURES
Current
Public safety
Personnel services 29,984,513 29,675,123 309,390
Operating expenditures 6,220,636 6,099,920 120,716
Capital outlay 2,292,196 2,759,756 (467,560)
Debt service: -
Principal reduction 459,687 598,398 (138,711)
Interest and fiscal charges 73,560 86,409 (12,849)
Reserves 13,538,176 - 13,538,176
TOTAL EXPENDITURES 52,568,768 39,219,606 13,349,162
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (968,384) (2,387,634) (1,419,250)
OTHER FINANCING SOURCES AND(USES)
Proceeds from capital lease 963,162 1,106,574 143,412
Proceeds from disposition of capital assets 5,222 327,820 322,598
Transfer in - - -
Transfer out - - -
TOTAL OTHER FINANCING SOURCES
AND(USES) 968,384 1,434,394 466,010
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES $ - (953,240) $ (953,240)
FUND BALANCE-Beginning 16,933,407
FUND BALANCE-Ending S 15,980,167
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 4
STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL - GENERAL FUND-
SUMMARY STATEMENT-BCI
Year Ended September 30, 2021
General Fund
Variance
Original Favorable
Budget Actual (Unfavorable)
REVENUES
Ad Valorem taxes $ 7,445,069 $ 7,606,105 $ 161,036
Intergovernmental revenue:
State firefighter supplement 9,331 - (9,331)
Federal grants 31,677 - (31,677)
Other intergovernmental - - -
Charges for services 67,704 - (67,704)
Miscellaneous:
Interest 51,600 15,762 (35,838)
Other 38,693 22,174 (16,519)
Subtotal-revenues 7,644,074 7,644,041 (33)
Cash brought forward 2,256,643 - (2,256,643)
TOTAL REVENUES 9,900,717 7,644,041 (2,256,676)
EXPENDITURES
Current
Public safety
Personnel services 4,464,607 4,418,538 46,069
Operating expenditures 988,170 972,120 16,050
Capital outlay 341,300 410,921 (69,621)
Debt service: -
Principal reduction 68,446 89,100 (20,654)
Interest and fiscal charges 10,953 12,866 (1,913)
Reserves 4,171,431 - 4,171,431
TOTAL EXPENDITURES 10,044,907 5,903,545 4,141,362
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES (144,190) 1,740,496 1,884,686
OTHER FINANCING SOURCES AND USES
Proceeds from capital lease 143,412 - (143,412)
Proceeds from disposition of capital assets 778 - (778)
Transfer in/(out) - - -
TOTAL OTHER FINANCING SOURCES
AND USES 144,190 - (144,190)
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES $ - 1,740,496 $ 1,740,496
FUND BALANCE-Beginning 2,904,072
FUND BALANCE-Ending S 4,644,568
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 5
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE -COMBINED SERVICE DELIVERY AREAS -
BUDGET AND ACTUAL-IMPACT FEE FUND - SUMMARY STATEMENT
Year Ended September 30, 2021
Impact Fee Fund
Variance
Original Favorable
Budget Actual (Unfavorable)
REVENUES
Fees:
Impact fees $ 1,000,000 $ 69,729 $ (930,271)
Impact Fees-Collected/Deferred - - -
Miscellaneous:
Interest 15,000 3,882 (11,118)
Transfer from General Fund - - -
Other - - -
Subtotal-revenues 1,015,000 73,611 (941,389)
Cash brought forward 755,756 - (755,756)
TOTAL REVENUES 1,770,756 73,611 (1,697,145)
EXPENDITURES
Current
Public safety
Operating expenditures 19,212 14,163 5,049
Capital outlay - - -
Debt service:
Principal 57,500 57,500 -
Interest and fiscal charges 8,625 1,948 6,677
Reserves 1,685,419 - 1,685,419
TOTAL EXPENDITURES 1,770,756 73,611 1,697,145
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES - - -
OTHER FINANCING SOURCES AND(USES)
Transfers in(out) - - -
TOTAL OTHER FINANCING SOURCES
AND(USES) - - -
EXCESS OF REVENUES AND OTHER
FINANCING SOURCES OVER(UNDER)
EXPENDITURES AND OTHER
FINANCING USES $ - - $ -
FUND BALANCE-Beginning -
FUND BALANCE-Ending $ -
The accompanying notes are an integral part of this statement.
NORTH COLLIER FIRE CONTROL AND RESCUE DISTRICT Page 6
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE -BUDGET AND ACTUAL -COMBINED SERVICE DELIVERY AREA-
INSPECTION FEE FUND-SUMMARY STATEMENT
Year Ended September 30,2021
Inspection Fee Fund
Variance
Original Favorable
Budget Actual (Unfavorable)
REVENUES
Charges for services
Inspection fees $ 880,000 $ 1,514,889 $ 634,889
Plan review fees 1,150,000 1,124,203 (25,797)
Miscellaneous:
Interest 5,000 1,088 (3,912)
Other 1,000 - (1,000)
Subtotal-revenues 2,036,000 2,640,180 604,180
Cash brought forward 1,306 - (1,306)
TOTAL REVENUES 2,037,306 2,640,180 602,874
EXPENDITURES
Current
Public safety
Personnel services 1,844,435 1,913,563 (69,128)
Operating expenditures 118,000 111,806 6,194
Capital outlay - -
Reserves 74,871 - 74,871
TOTAL EXPENDITURES 2,037,306 2,025,369 11,937
EXCESS OF REVENUES
OVER(UNDER)EXPENDITURES $ - 614,811 $ 614,811
FUND BALANCE-Beginning 164,820
FUND BALANCE-Ending $ 779,631
The accompanying notes are an integral part of this statement.