Agenda 05/09/2023 Item #13A (ACFR - The Annual Comprehensive Financial Report)13.A
05/09/2023
EXECUTIVE SUMMARY
Presentation of the Annual Comprehensive Financial Report for the fiscal year ended September
30, 2022 and authorization to file the related State of Florida Annual Local Government Financial
Report with the Department of Financial Services.
OBJECTIVE: Presentation of the Annual Comprehensive Financial Report (ACFR) for the fiscal year
ended September 30, 2022 and authorization to file the related State of Florida Annual Local Government
Financial Report (AFR with the Department of Financial Services.
CONSIDERATIONS: The Clerk of the Circuit Court serving as Ex-Officio Clerk to the Board of County
Commissioners is responsible for coordination of the annual independent audit along with the production of
the Annual Comprehensive Financial. In this role, the Clerk is pleased to present to the Board the ACFR for
the fiscal year ended September 30, 2022, which includes the Government Finance Officers Association
Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended September 30,
2021. The ACFR represents a significant effort by both the Finance and Accounting Department and
County staff. We would like to express our sincere appreciation to the Board, the Constitutional Officers
and their staff, the County Manager, the County Attorney, the Department Heads, Division Directors and
County staff for their assistance. We would like to also thank the County's external auditors,
CliftonLarsonAllen LLP and their staff for a successful year-end audit.
The ACFR package delivered to the Board includes an unmodified annual audit opinion for fiscal year
2022, grant related Single Audit Reports and an unaudited report on debt for fiscal year 2022. The
unaudited report on debt is required by the County's Debt Management Policy.
Also included as an exhibit, the Annual Financial Report is due within 45 days of completion of the audit
report but no later than 9 months after the end of the fiscal year. This report documents the revenues and
expenditures for a given fiscal year in accordance with the State of Florida Uniform Accounting System.
A brief presentation on the overall audit will be given by CliftonLarsonAllen staff.
GROWTH MANAGEMENT IMPACT: There is no growth management impact.
FISCAL IMPACT: There is no fiscal impact to this executive summary.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, raises no legal
issues and requires majority vote for acceptance of the report. -JAK
RECOMMENDATION: That the Collier County Board of County Commissioners accepts the
Comprehensive Annual Financial Report for fiscal year 2022 and authorizes the filing of the State of
Florida Annual Local Government Financial Report with the Department of Financial Services.
Prepared By: Derek M. Johnssen, Director of Finance and Accounting
Clerk of the Circuit Court and Comptroller
ATTACHMENT(S)
1. Annual Financial Report for Collier, 2022 (PDF)
2. [Linked] 2022 Collier County ACFR (PDF)
Packet Pg. 32
13.A
05/09/2023
COLLIER COUNTY
Board of County Commissioners
Item Number: 13.A
Doc ID: 25399
Item Summary: *** This item to be heard at 11 AM. *** Presentation of the Annual Comprehensive Financial
Report for the fiscal year ended September 30, 2022 and authorization to file the related State of Florida Annual
Local Government Financial Report with the Department of Financial Services. (Derek Johnssen, Clerk's Office
Director of Finance and Accounting)
Meeting Date: 05/09/2023
Prepared by:
Title: Finance Manager — Clerk of the Circuit Court
Name: Kelly Jones
05/01/2023 11:49 AM
Submitted by:
Title: Assistant Finance Director — Clerk of the Circuit Court
Name: Derek Johnssen
05/01/2023 11:49 AM
Approved By:
Review:
Clerk of the Circuit Court Derek Johnssen Additional Reviewer
Office of Management and Budget Debra Windsor Level 3 OMB Gatekeeper Review
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review
Office of Management and Budget Christopher Johnson Additional Reviewer
County Manager's Office Geoffrey Willig Level 4 County Manager Review
Board of County Commissioners Geoffrey Willig Meeting Pending
Completed 05/02/2023 10:45 AM
Completed 05/02/2023 10:48 AM
Completed 05/02/2023 11:32 AM
Completed 05/02/2023 12:59 PM
Completed 05/03/2023 11:56 AM
05/09/2023 9:00 AM
Packet Pg. 33
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FOR THE FISCAL
YEAR ENDED
SEPTEMBER 30,
2022 «.
f
&-a 17 1^5 �' ANNUAL
r.z
PREHENSIVE
FINANCIAL
REPORT
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR FISCAL YEAR ENDED
SEPTEMBER 30, 2022
COLLIER COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
WILLIAM L. MCDANIEL, JR., CHAIRMAN - DISTRICT 5
RICK LOCASTRO, VICE-CHAIRMAN- DISTRICT 1
ANDY SOLIS, ESQ. - DISTRICT 2
BURT SAUNDERS, ESQ. - DISTRICT 3
PENNY TAYLOR - DISTRICT 4
COUNTY MANAGER
AMY PATTERSON
COUNTY ATTORNEY
JEFFREY A. KLATZKOW
CLERK OF THE CIRCUIT COURT AND COMPTROLLER
CRYSTAL K. KINZEL
DIRECTOR OF FINANCE AND ACCOUNTING
DEREK M. JOHNSSEN, CPA
Prepared by the Office of the Clerk of the Circuit Court and Comptroller,
Finance and Accounting Department
COLLIER COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2022
INTRODUCTORY SECTION
TransmittalLetter......................................................................................................................................................................... i
Certificateof Achievement......................................................................................................................................................... vi
FINANCIAL SECTION
IndependentAuditors' Report..................................................................................................................................................... 1
Management's Discussion and Analysis (Unaudited).................................................................................................................. 4
Basic Financial Statements
Statementof Net Position.....................................................................................................................................................
16
Statementof Activities..........................................................................................................................................................
18
Balance Sheet — Governmental Funds..................................................................................................................................
20
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ............................................
21
Statement of Revenues, Expenditures and Changes in Fund Balances — Governmental Funds .............................................
22
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental
Funds to the Statement of Net Activities...............................................................................................................................
23
General Fund - Statement of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual
(Budgetary Basis)..................................................................................................................................................................
24
Bayshore Gateway Community Redevelopment Agency - Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget and Actual (Budgetary Basis)..........................................................................................................
27
Immokalee Community Redevelopment Agency - Statement of Revenues, Expenditures and Changes in Fund
Balances — Budget and Actual (Budgetary Basis).................................................................................................................
28
Grants and Shared Revenue - Statement of Revenues, Expenditures and Changes in Fund Balances - Budget
andActual (Budgetary Basis)................................................................................................................................................
29
Statement of Net Position — Proprietary Funds.....................................................................................................................
30
Statement of Revenues, Expenses and Changes in Fund Net Position — Proprietary Funds ..................................................
32
Statement of Cash Flows — Proprietary Funds......................................................................................................................
33
Statement of Fiduciary Net Position...................................................................................................................................... 35
Statement of Changes in Fiduciary Net Position...................................................................................................................
36
Notes to the Financial Statements........................................................................................................................................
37
Required Supplementary Information
Schedule of the County's Proportionate Share of the Net Pension Liability - Florida Retirement System Pension Plan.........
84
Schedule of County Contributions - Florida Retirement System Pension Plan.......................................................................
84
Schedule of the County's Proportionate Share of the Net Pension Liability - Retiree Health Insurance Subsidy Program .....
84
Schedule of County Contributions - Retiree Health Insurance Subsidy Program...................................................................
84
Schedule of Changes in the Collier County Total OPEB Liability and Related Ratios - Board of County
Commissioners and Constitutional Officers..........................................................................................................................
86
Schedule of Changes in the Collier County Total OPEB Liability and Related Ratios - Sheriff ................................................
86
Combining and Individual Fund Financial Statements and Other Supplemental Information...................................................
89
Nonmajor Governmental Funds
CombiningBalance Sheet.....................................................................................................................................................
94
Combining Statement of Revenues, Expenditures and Changes in Fund Balances.............................................................
102
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual (Non-GAAP) ...........
110
COLLIER COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2022
FINANCIAL SECTION (CONTINUED)
Combining and Individual Fund Financial Statements and Other Supplemental Information (Continued)
Nonmajor Enterprise Funds
Combining Statement of Net Position................................................................................................................................. 138
Combining Statement of Revenues, Expenses and Changes in Fund Net Position.............................................................. 139
Combining Statement of Cash Flows.................................................................................................................................. 140
Internal Service Funds
Combining Statement of Net Position................................................................................................................................. 142
Combining Statement of Revenues, Expenses and Changes in Net Position....................................................................... 143
Combining Statement of Cash Flows.................................................................................................................................. 144
Fiduciary Funds
Combining Statement of Fiduciary Net Position - Custodial Funds..................................................................................... 148
Combining Statement of Changes in Fiduciary Net Position - Custodial Funds................................................................... 149
Component Units
Combining Statement of Net Position................................................................................................................................. 152
Combining Statement of Activities...................................................................................................................................... 153
Other Supplemental Information
Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill ............................................. 156
STATISTICAL SECTION
NetPosition by Component.....................................................................................................................................................
160
Changein Net Position............................................................................................................................................................
162
Governmental Activities Tax Revenues by Source....................................................................................................................
164
Fund Balances of Governmental Funds...................................................................................................................................
165
Changes in Fund Balances of Governmental Funds.................................................................................................................
166
Assessed Value and Estimated Actual Value of Taxable Property...........................................................................................
168
Property Tax Rates — All Direct and Overlapping Governments................................................................................................
170
PrincipalTaxpayers County-Wide.............................................................................................................................................
171
Property Tax Levies and Collections........................................................................................................................................
172
Ratiosof Outstanding Debt by Type.........................................................................................................................................
173
Direct, Overlapping and Underlapping Governmental Activities Debt.......................................................................................
174
Pledged -Revenue Coverage.....................................................................................................................................................
175
Demographicand Economic Statistics....................................................................................................................................
176
PrincipalEmployers.................................................................................................................................................................
177
Budgeted Full -Time Equivalent County Employees by Function...............................................................................................
178
OperatingIndicators by Function.............................................................................................................................................
179
Capital Asset Statistics by Function.........................................................................................................................................
180
COLLIER COUNTY, FLORIDA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2022
SINGLE AUDIT/SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL
ASSISTANCE
Independent Auditors' Report on Internal Control Over Financial Reporting and Compliance .................................................. 183
Independent Auditors' Report on Compliance for Each Major Federal Program and State Project ........................................... 185
Schedule of Expenditures of Federal Awards and State Financial Assistance......................................................................... 188
Notes to the Schedule of Expenditures of Federal Awards....................................................................................................... 194
Schedule of Findings and Questioned Costs............................................................................................................................ 195
4-
r
41
�r
Introductory
Section
11:IPyTe[HMION1:10IN[670MAN aIII anQW_\01:/
Crystal K. Kinzel
Collier County
Clerk of the Circuit Court and Comptroller
3315 Tamiami Trail East, Suite 102
Naples, Florida 34112-5324
May 9, 2023
To the Citizens and Members of the Board of County Commissioners,
Collier County, Florida:
It is with pleasure that we present to you, the citizens of Collier County and members of the Board of County
Commissioners, the Annual Comprehensive Financial Report for the fiscal year ended September 30, 2022.
This report was prepared by the Finance and Accounting Department of the Clerk of the Circuit Court and
Comptroller as part of the Clerk's legally prescribed duties. Responsibility for the accuracy of the data and the
completeness and fairness of the presentation, including all disclosures, rests with management. To the best
of our knowledge and belief, the information presented herein is accurate in all material respects and is
reported in a manner designed to present fairly the financial position and results of County operations.
The Clerk of the Circuit Court and Comptroller's Finance and Accounting Department, as well as County
management, is responsible for establishing and maintaining internal controls to provide reasonable, but not
absolute, assurance regarding the safeguarding of assets against loss from unauthorized use or disposition, the
reliability of financial records for preparing financial statements and maintaining accountability of assets. The
concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to
be derived, and the evaluation of costs and benefits requires estimates and judgments by management.
Chapter 218.39 of the Florida Statutes requires an independent certified public accountant's financial audit of
counties in the State. State law requires the County to submit a complete set of financial statements within
forty-five days after the issuance of the audit report (but no later than nine months after the fiscal year end)
presented in accordance with accounting principles generally accepted in the United States. For the fiscal year
ended September 30, 2022, the independent auditor, Clifton LarsonAllen LLP, issued an unmodified ("clean")
opinion on the financial statements. Their report is included in the Financial Section of this report. In addition
to meeting the requirements set forth in State statutes, the audit was also designed to meet the requirements
of the Government Auditing Standards, the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the Rules of the
Auditor General, Chapter 10.550 Local Governmental Entity Audits.
Governmental accounting and auditing principles require that management provide a narrative introduction,
overview and analysis to accompany the basic financial statements in the form of Management's Discussion
and Analysis (MD&A). This letter of transmittal is designed to complement MD&A and the two should be read
in concert. Collier County's MD&A can be found in the Financial Section immediately following the
independent auditors' report.
PROFILE OF THE GOVERNMENT
Collier County is a Constitutional form of government and was established in 1923 under the Constitution and
the laws of the State of Florida. The Board of County Commissioners is the legislative body for Collier County
and comprises five members elected in the five different Commission districts of the County. The Board of
County Commissioners appoints a county manager to carry out policies and oversee the county's day to day
operations. In addition to the County Com m 6sioners, voters elect the following five constitutional officers on
Phone- (239) 252-2646 Fax- (239) 252-2755
Website- www.CollierClerk.com Email- CollierClerk@collierclerk.com
a Countywide basis: the Clerk of the Circuit Court and Comptroller, Property Appraiser, Sheriff, Supervisor of
Elections and Tax Collector.
The County provides its citizens with a wide range of services that include tax assessment and collections, law
enforcement, emergency management, fire and emergency medical services, animal services, library, museum
and cultural services, parks and recreation operations, road maintenance and construction, economic
development and social and human services. Additionally, the County owns and operates a water and
wastewater utility, a solid waste landfill and recycling program, a landfill gas to energy facility, three airports,
a transit system and an amateur sports complex.
The fiscal year for county government begins October 1 and ends September 30. Budgets are prepared annually
and formal budgetary integration is employed as a management control throughout the year. The level of
budgetary control, the level at which expenditures cannot legally exceed the appropriated amount, is
established at the departmental level for personal services, operating expenditures and non -project related
capital outlay separately. Debt service and transfers are controlled at the fund level and capital projects and
grants are controlled at the individual project or grant level. All governmental funds adopted annual budgets
for fiscal year 2022, except for the Forest Lakes Limited General Obligation Bonds debt service fund that is due
to be closed out in the next fiscal year. The Board of County Commissioners conducts budget workshops during
June of each year and a proposed budget is released in July. The budgets of Constitutional Officers are
presented to the appropriate authorizing bodies according to State statute. Two public hearings are held in
September to allow taxpayer input and to adopt the final budget.
ECONOMIC CONDITION AND OUTLOOK
Collier County, the state's second largest county, is on the southwest coast of Florida, directly west of Miami.
With a 2022 population of 390,912 (a 17.2 percent increase over the last ten years), Collier County is one of
the fastest growing counties in the state over the last ten years. The resident population includes
Unincorporated County (pop. 355,134) and three municipalities: the Cities of Naples (pop. 19,283), Marco
Island (pop. 16,112) and Everglades (pop. 383). The County's economic base is a diverse mix concentrated in
tourism, agriculture, fishing, construction, ranching and forestry with a growing services economy and an active
technology sector. Gulf of Mexico beaches and the Everglades National Park are important attractions to this
area.
The County's manufacturing base grew from 289 establishments in 2008 to 376 in 2022, led by companies
providing products varying from surgical and medical instruments, kitchen cabinets and countertops to aircraft
engines and parts. Recently, the area has become particularly attractive to logistical and warehousing service
providers, with Amazon and Uline opening new distribution centers.
Sports tourism is a growing segment of Collier's economy. The Minto United States Open Pickleball
Championship continues to expand and generally attracts national and international participation. The
Paradise Coast Sports Complex is a multipurpose entertainment facility situated near 1-75 and Collier
Boulevard. At completion, the Complex will contain twenty-one multipurpose fields, an outdoor fitness center,
a food truck pavilion and a championship stadium. The first phase of the facility opened in October of 2020
and final completion is expected in 2023. The Complex is designed to attract national tournaments, while at
the same time providing additional fields needed for local field play for sports such as soccer and baseball.
To further promote economic growth, diversify the economy and encourage high -wage job creation, the Board
of County Commissioners has created Economic Innovation Zones. The Ave Maria Innovation Zone, the
Interchange Activity Center No. 9 Innovation Zone and the Golden Gate City Economic Development Zone were
created to provide specific geographic areas a dedicated source of economic development funding through tax
increment revenues. Flexible zoning overlays that will allow for reduced developmental timeframes for
qualified target industry uses within the Zones are in process.
Taxable property market valuation for fiscal year 2022 totaled $116.3 billion, a very high $297,514 per capita.
The County's millage for General Fund operations in fiscal year 2022 remained at only 36% of the statutory 10
mill limit, or $3.56 per thousand dollars of taxable value. Unemployment levels in recent years approximate,
or are slightly below, the statewide average. The 2022 annual County unemployment rate stood at 2.8%, which
is equal to the statewide average. Income levels are high, with a per capita personal income of $116,496.
LONG TERM FINANCIAL PLANNING
Each Florida local government must prepare a comprehensive plan for managing growth, providing vital
services and protecting the environment. In Collier, several annual processes take place which influence long
range planning and the development of the budget. Each year the County performs a three-year budget
projection of primary ad valorem supported funds (General Fund and the Unincorporated Area Municipal
Services Taxing District Fund) prior to developing budget policy. In addition, there are several annual long range
planning processes such as the Capital Improvement Element (CIE), the Annual Update and Inventory Report
(AUIR), the Long Range Transportation Plan, the Water and Wastewater Master Plans, the Master Mobility Plan
and concurrency planning. The County is required to prepare and present to the Board of County
Commissioners an Annual Update and Inventory Report (AUIR) and adopt a five-year Capital Improvement
Element (CIE). Both of these processes focus on the schedule of capital improvements for the County. The
AUIR is an annual status report on public facilities and the CIE is a planning document that identifies public
facilities that will be required during the next five or more years.
The Capital Improvement Element is the foundation of Collier County's annual Capital Improvement Program
(CIP). The amount planned for CIP projects in fiscal years 2023-2027 is $1.6 billion. Included in the County's
current CIP for fiscal years 2023-2027 are approximately $550.8 million in water and wastewater projects,
$477.4 million in transportation projects, $220.6 million in stormwater projects and $79.4 million in
government facilities projects. In addition, parks and recreation projects of approximately $69.8 million are
planned, as well as $60.5 million for tourist development funded projects, $25.5 million in solid waste projects,
$55.8 million in public safety projects, $45.0 million in human services projects and miscellaneous projects
totaling $9.5 million. Approximately $487.4 million of the fiscal year 2023-2027 Capital Improvement Program
is currently planned to be funded by bond or loan proceeds and $469.1 million is planned to be funded by
water and wastewater user fees. The remainder will be funded by a mixture of infrastructure sales tax, impact
fees, gas taxes and tourist taxes.
RELEVANT FINANCIAL POLICIES
Relevant financial policies include the appropriation of carryforward as a funding source in the following year,
maintaining General Fund budgeted reserves between 8% and 16% of operating revenues and Unincorporated
Area General Fund budgeted reserves of at least 2.5% of operating expenditures. Additional policies include
the assessment of impact fees at such levels as allowed by law and supported by studies, prioritizing gas taxes
for payment of debt service on the Series 2012 and 2014 Gas Tax Revenue and Refunding Bonds and Loan, and
the establishment of a long term capital reserve funded in annual amounts of up to $5 million to protect the
County's general governmental infrastructure.
For enterprise operations such as the Water and Sewer District and Solid and Hazardous Waste Management,
that do not receive support from general government sources, budgeted reserves are targeted to a range of
forty-five to ninety days of operating expenditures.
Debt administration policies include the limitation of the debt repayment period to the useful life of the
underlying assets and the establishment of a 5% benchmark for net present value savings generated by
refinancing. Lesser net present value savings may be considered on a case -by -case basis. Consistent with
Collier County's Debt Management Policy, outstanding debt is continually monitored in relation to existing
conditions in the debt market. When sufficient cost savings can be realized debt will be refinanced. In addition,
the debt policy establishes a maximum ratio of total general governmental debt service to bondable revenues
from current sources of 13%.
The Clerk of the Circuit Court and Comptroller's Finance and Accounting Department monitors the daily cash
needs of the County and invests the County's funds in accordance with the Collier County Investment Policy.
The primary objective of the investment policy is the preservation of capital and the protection of investment
principal. Authorized investments include certificates of deposit, the Local Government Funds Surplus Trust
Fund (Florida PRIME), other intergovernmental pools, U.S. Treasury securities, U.S. agency securities,
commercial paper, corporate bonds and bankers' acceptances. The par weighted average maturity of the total
managed portfolio, to first call or maturity, was 1.43 years as of September 30, 2022. The total return for fiscal
year 2022 was (4.35%), the result of a 3.00% increase in the Federal Funds Rate during FY-22 and unrealized
losses due to changes in fair value of long term investments as of September 30, 2022. Investment income of
$12.0 million was realized during fiscal year 2022. Changes in the fair value of investments are recorded as
part of interest earnings when presented in the financial statements.
MAJOR INITIATIVES
While the County is currently focused on many initiatives, some of the most significant include the following:
- Development of the Golden Gate Golf Course property, workforce and first responder housing and
mental health initiatives
- Upgrades to Information Technology infrastructure and the County's various management, financial
and accounting software
- Completion of the construction, and operation, of the Big Corkscrew Regional Park and the Paradise
Coast Sports Complex
- Public safety capital projects including a new evidence facility for the Sheriff
- The extension of Vanderbilt Beach Road, Randall curve improvements and bridge rehabilitation and
replacement
- Enhancements in storm -water capital infrastructure and maintenance service levels
- Construction of utility infrastructure in the County Water and Sewer District's northeast service area
- Design the expansion of water and wastewater treatment facilities in the Golden Gate Utility service
area
AWARDS
GFOA Certificate of Achievement:
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate
of Achievement for Excellence in Financial Reporting to Collier County, Florida for its Annual Comprehensive
Financial Report for the fiscal year ended September 30, 2021. The Certificate of Achievement is a prestigious
national award, recognizing conformance with the highest standards for preparation of state and local
government financial reports.
In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and
efficiently organized Annual Comprehensive Financial Report whose contents conform to program standards.
The Annual Comprehensive Financial Report must satisfy both generally accepted accounting principles and
applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. Collier County has received this award for
the past thirty-six years, from fiscal year 1986 to 2021 We believe our current report conforms to the Certificate
of Achievement program requirements, and we are submitting it to the GFOA for consideration for an award
again this year.
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Distinguished Budget Presentation Awards:
The Government Finance Officers Association of the United States and Canada presented an award for
Distinguished Presentation to Collier County for its annual budget for the fiscal year beginning October 1, 2021.
In order to receive this award, a government unit must publish a budget document that meets program criteria
as a policy document, as an operations guide, as a financial plan, and as a communications device. The
Distinguished Budget Presentation Award is valid for a period of one year only. Collier County has received this
award for the last thirty-six consecutive years.
The Government Finance Officers Association of the United States and Canada presented an award for
Distinguished Presentation to the Office of the Collier County Clerk of the Circuit Court and Comptroller for its
annual budget for the fiscal year beginning October 1, 2021. In order to receive this award, a government unit
must publish a budget document that meets program criteria as a policy document, as an operations guide, as
a financial plan, and as a communications device. The Distinguished Budget Presentation Award is valid for a
period of one year only. The Clerk's Office has received this award for the last twenty consecutive years.
ACKNOWLEDGEMENTS
The preparation and publication of this Annual Comprehensive Financial Report represents a significant effort
by the Finance and Accounting Department as well as numerous County personnel who contribute to its
production. In particular, we would like to express our appreciation to Suzanne Boothby, Grants Manager,
Leslie Miller, Operations Manager and all of the staff of the Finance and Accounting Department.
Sincere appreciation is also expressed to Clifton LarsonAllen, the Board of County Commissioners, the
Constitutional Officers, the County Manager, Deputy County Managers, Department Heads and the Division
Directors for their assistance throughout the year in matters pertaining to the financial affairs of the County.
We hope you find this report informative, accurate and easily readable. If you should have any questions
related to this report or if additional information is desired, do not hesitate to contact Derek M. Johnssen,
Director of Finance and Accounting, at 239.252.7863.
Respectfully,
f ! 1
Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Derek M. Johnssen, CPA
Deputy Clerk, Director of Finance and Accounting
Kelly Jones, CGFO
Deputy Clerk, Assistant Director of Finance and Accounting
v
Certificate of Achievement for Excellence in Financial Reporting
The Government Finance Officers Association of the United States and Canada (GFOA) awarded
a Certificate of Achievement for Excellence in Financial Reporting to Collier County, Florida for
its annual comprehensive financial report for the fiscal year ended September 30, 2021. This
was the thirty-fifth consecutive year that the government has achieved this prestigious award. In
order to be awarded a Certificate of Achievement, a government must publish an easily readable
and efficiently organized comprehensive annual financial report. This report must satisfy both
generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement
Program's requirements and we are submitting it to the GFOA to determine its eligibility for
another certificate.
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CliftonLarsonAllen LLP
CLAconnect.conn
Honorable Board of County Commissioners
Collier County, Florida
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business -
type activities, the aggregate discretely presented component units, each major fund, and the
aggregate remaining fund information of Collier County, Florida (the County), as of and for the year
ended September 30, 2022, and the related notes to the financial statements, which collectively
comprise the County's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business -type activities, the aggregate
discretely presented component units, each major fund, and the aggregate remaining fund information
of the County, as of September 30, 2022, and the respective changes in financial position, and, where
applicable, cash flows thereof , and the respective budgetary comparison schedules for the year then
ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Auditors' Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the County and to meet our
other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is required to evaluate whether there are conditions
or events, considered in the aggregate, that raise substantial doubt about the County's ability to
continue as a going concern for twelve months beyond the financial statement date, including any
currently known information that may raise substantial doubt shortly thereafter.
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer
Honorable Board of County Commissioners
Collier County, Florida
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due
to fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the County's internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the County's ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis, the schedules of the County's proportionate share of the net
pension liability and of County contributions, and the schedules of other postemployment benefits total
OPEB liability and related ratios for the retiree health plans be presented to supplement the basic
financial statements. Such information is the responsibility of management and, although not a part of
the basic financial statements, is required by the Governmental Accounting Standards Board who
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 in accordance with GAAS, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management's responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an
opinion or provide any assurance on the information because the limited procedures do not provide us
with sufficient evidence to express an opinion or provide any assurance.
2
Honorable Board of County Commissioners
Collier County, Florida
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the County's basic financial statements. The combining and individual nonmajor
fund financial statements, and schedule of expenditures of federal awards and state financial
assistance, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards and Chapter 10.550, Rules
of the Auditor General for Local Governmental Entity Audits are presented for purposes of additional
analysis and are not a required part of the basic financial statements. Such 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. The 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 GAAS. In our opinion, the combining
and individual nonmajor fund financial statements, and schedule of expenditures of federal awards and
state financial assistance, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Chapter
10.550, Rules of the Auditor General for Local Governmental Entity Audits are fairly stated, in all
material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other
information comprises the introductory and statistical sections but does not include the basic financial
statements and our auditors' report thereon. Our opinions on the basic financial statements do not
cover the other information, and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If,
based on the work performed, we conclude that an uncorrected material misstatement of the other
information exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated April 21,
2023, on our consideration of the County's internal control over financial reporting and on our tests of
its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other
matters. The purpose of that report is solely to describe the scope of our testing of internal control over
financial reporting and compliance and the results of that testing, and not to provide an opinion on the
effectiveness of the County's internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering
County's internal control over financial reporting and compliance.
CliftonLarsonAllen LLP
Naples, Florida
April 21, 2023
3
MANAGEMENT'S DISCUSSION AND ANALYSIS
(UNAUDITED)
As Clerk of the Circuit Court and Comptroller of Collier County, Florida, I present the readers of the County's financial statements
this narrative overview and analysis of the financial activities of Collier County for the fiscal year ended September 30, 2022.
Readers are encouraged to consider the information presented in this narrative in conjunction with additional information offered
in the letter of transmittal, found on pages i-vi of this report.
Financial Highlights
• Collier County's assets and deferred outflows exceeded its liabilities and deferred inflows as of September 30, 2022 by
$3,539,600,799. Of this amount, $328,030,984 represents unrestricted net position and may be used to meet future County
obligations. Unrestricted net position increased by $43,909,818 from the previous year.
• The County's total net position increased by $300,991,260 when compared to fiscal year 2021, with a $279,657,133
increase from governmental activities and a $21,334,127 increase resulting from business -type activities.
• As of September 30, 2022, Collier County's governmental fund financial statements showed combined ending fund
balances of $1,140,467,504, an increase of $149,811,270 over the previous fiscal year. Of the total combined ending
governmental fund balance, $112,913,036 is reported as unassigned.
• The General Fund reported an unassigned fund balance of $114,549,101 at September 30, 2022, a decrease in unassigned
General Fund balance of $2,566,802 when compared to September 30, 2021.
• The County's proportionate share of the Florida Retirement System's defined pension benefit and health insurance subsidy
net pension liabilities was $365,560,649 as of September 30, 2022, an increase of $223,627,049 from the previous year.
• Total bonded debt, notes, outstanding loans, leases and financed purchase obligations owed by Collier County decreased
by $52,028,189 during fiscal year 2022, with a decrease in governmental activities debt of $32,923,693 and a decrease
in business -type activities debt of $19,104,496. Additional information on debt activity can be found in Note 7 to the
financial statements beginning on page 56.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction and explanation of Collier County's basic financial statements.
Collier County's basic financial statements include government -wide and fund financial statements, as well as notes to the basic
financial statements.
Government -Wide Financial Statements
Government -wide financial statements are designed to provide the reader an overview of the financial position of the County
and are similar to private sector financial statements. These statements are comprised of a Statement of Net Position and a
Statement of Activities and are found on pages 16 to 19 of this report.
The Statement of Net Position shows the financial position of Collier County as of September 30, 2022. The statement shows
the County's assets plus deferred outflows of resources less its liabilities plus deferred inflows of resources, with the difference
being reported as net position. Changes in net position are useful indicators of financial condition.
The Statement of Activities follows the Statement of Net Position and reports the changes in net position over the fiscal period.
All changes in net position are reported as soon as the underlying events that gave rise to the change occur, regardless of the
timing of the related cash flows. Thus, revenues and expenses are reported for some items, such as accounts receivable, notes
receivable or certain unused leave, that will manifest themselves in cash inflows and outflows, respectively, in future fiscal periods.
These statements distinguish Collier County functions that are supported by taxes and intergovernmental revenues (governmental
activities), from business -type activities, which are intended to have their costs primarily recovered through user fees and charges.
Governmental activities reported in the financial statements are general government, public safety, physical environment,
transportation, economic environment, human services and culture and recreation. Business -type activities in Collier County
include water and sewer, solid waste collections, airport operations, transit operations and emergency medical services.
Fund Financial Statements
A fund is a group of related accounts used to maintain control over resources that have been segregated to meet specific
objectives. As dictated by generally accepted accounting principles, Collier County uses fund accounting to ensure and
demonstrate compliance with finance related legal requirements. The funds of the County can be divided into the following
three categories: governmental, proprietary and fiduciary.
Governmental funds
Governmental funds, presented on pages 20 to 29, account for substantially the same functions as governmental activities
reported under the government -wide Statement of Net Position and Statement of Activities. The difference is that the governmental
fund financial statements focus on inflows and outflows of expendable resources, as well as balances of expendable resources
available at the end of the fiscal year, on a near term basis. As such, these statements present a narrower view of financial
condition, but are nonetheless useful in evaluating Collier County's near term financing requirements and available resources.
Comparison between the two sets of financial statements allows the reader to better assess the future impact of the government's
nearterm financial decisions. Both the governmental fund balance sheet and the statement of revenues, expenditures and changes
in fund balances provide a reconciliation to the respective government -wide financial statements to facilitate comparison.
Governmental funds presented individually in Collier County's statements include five major funds, the General Fund and the
Bayshore Gateway and Immokalee Community Redevelopment Agencies, Grants and Shared Revenue Fund and the Infrastructure
Sales Tax fund. There are many smaller governmental funds under Collier County management and they are aggregated in a total
column named "other governmental funds". Combining statements for these other governmental funds have been presented
elsewhere in this report.
Collier County adopts an annual budget as described in Note 1 to the financial statements. A budgetary comparison statement has
been provided for the General Fund and each major special revenue fund to demonstrate compliance with this budget. Budgetary
comparison schedules for the Infrastructure Sales Tax capital project major fund and non -major governmental funds required to
adopt an annual budget are presented in the combining statements presented elsewhere in this report.
Proprietary funds
Collier County maintains two different types of proprietary funds, enterprise and internal service, which are reflected on pages
30 to 34 of this report.
Enterprise funds report, with more detail, the same functions presented as business -type activities in the government -wide
financial statements for water and sewer, solid waste disposal, emergency medical services, transit and the airport authority.
The Collier County Water and Sewer District Fund, the Solid Waste Disposal Fund and the Emergency Medical Services Fund are
presented individually as major funds.
Internal service funds are primarily maintained to allocate and accumulate costs internally for Collier County. The County uses
internal service funds to account for health insurance, worker's compensation insurance, property and casualty insurance,
fleet operations and information technology. The internal service funds are presented in total in the proprietary fund financial
statements, but may be viewed on a combining basis elsewhere in the report.
Fiduciary funds
Fiduciary funds are used to account for resources held for the benefit of parties outside of Collier County government. These
funds are not presented in the government -wide financial statements as they do not represent resources available to support
Collier County functions. The fiduciary funds begin on page 35 of this report. The County uses a private purpose trust fund for
the Sheriff's employee flexible spending account. The County also uses custodial funds to report amounts that the government
has custody of, but does not have control over the use of the funds.
Notes to the Financial Statements
The notes provide additional information essential to a full understanding of the data provided in both the government -wide and
fund financial statements. The notes appear on pages 37 to 81 of this report.
Other Information
The combining and individual nonmajor fund financial statements and schedules mentioned above present more detailed views
of nonmajor governmental and enterprise funds and begin on page 91. This section contains combining balance sheets and
statements of revenues, expenditures and changes in fund balance for governmental funds, including budgetary comparisons,
and combining statements of net position and statements of revenues, expenses and changes in fund net position for enterprise
funds. Also included are combining financial statements for internal service and custodial funds.
Additional information about the County, which may be of interest to the reader, can be found under the Statistical section of
this report. The Statistical section has been prepared in accordance with Governmental Accounting Standards Board Statement
No. 44, Economic Condition Reporting: The Statistical Section. This section contains data regarding financial trends, revenue
capacity, debt capacity, demographic and economic conditions and operating indicators of the County.
Government -Wide Financial Analysis
As noted earlier, net position may serve overtime as a useful indicator of a government's financial position. Assets and deferred
outflows exceed liabilities and deferred inflows by $3,539,600,799 as of the fiscal year ending September 30, 2022 for Collier
County. Positive balances were reported in all categories of net position in the governmental and business -type activities for
fiscal year 2022.
Collier County's net position at September 30, 2022 increased by $43,909,818 for unrestricted net position and increased
$120,062,069 for restricted net position. Restricted net position consists of resources subject to external restriction on how they
may be used while unrestricted net position may be used to meet the County's ongoing obligations. Increases in restricted net
position were mainly due to a $83,996,505 increase in restricted net position related to Infrastructure Sales Tax capital projects
and a $20,896,223 increase in restricted net position related to Conservation Collier. The increase in unrestricted net position
was mainly due to the increases in property tax and sales tax revenues, along with $10 million in revenue recovery from the
Coronavirus State and Local Fiscal Recovery Funds from the American Rescue Plan Act of 2021.
Collier County's investment in capital assets such as land, roads, buildings, parks and machinery and equipment, net of depreciation
or any outstanding debt related to the asset, amounts to 67.2% of net position as of September 30, 2022, compared to 69.3%
as of September 30, 2021. During fiscal year 2022, the County's net investment in capital assets increased by $137,019,373, but
decreased as a proportion of total net position due to the overall increase in combined restricted and unrestricted net position
discussed above. Capital assets provide services to the citizens and consequently do not represent spendable resources and
cannot be used to liquidate the debt incurred to purchase or construct capital assets.
The following are Collier County's net position and changes in net position for the fiscal years ended September 30, 2021 and
2022, shown in condensed form:
Current and other assets
Capital assets, net
Total assets
Deferred outflows of resources
Long-term liabilities
Current liabilities
Total liabilities
Deferred inflows of resources
Net position:
Net investment in capital assets
Restricted
Unrestricted
Total net position
Collier County's Schedule of Net Position
(in millions)
Total
Business -type Percentage
Governmental Activities Activities Total Change
2022 2021 2022 2021 2022 2021 2021-2022
$ 1,377.4 $ 1,211.9 $ 532.9 $ 545.6 $ 1,910.3 $ 1,757.5 8.7%
1,856.7 1,752.9 1,076.5 1,058.3 2,933.2 2,811.2 4.3%
3,234.1 2,964.8 1,609.4 1,603.9 4,843.5 4,568.7 6.0%
101.4 83.1 20.9 16.5 122.3 99.6 22.8%
729.1
192.6
575.5
180.3
418.9
45.9
393.0
50.9
1,148.0
238.5
968.5
231.2
18.5%
3.29/o
921.7
755.8
464.8
443.9
1,386.5
1,199.7
15.69/6
33.9
191.8
5.8
38.2
39.7
230.0
(82.7)%
1,509.2
1,396.9
871.0
846.3
2,380.2
2,243.2
6.1%
782.8
660.5
48.5
50.8
831.3
711.3
16.9%
87.9
42.9
240.2
241.2
328.1
284.1
15.59/o
$ 2,379.9 $
2,100.3 $
1,159.7 $
1,138.3 $
3,539.6 $
3,238.6
9.3%
101
Collier County's Schedule of Changes in Net Position
(in millions)
Total
Percentage
Governmental Activities Business -type Activities Total Change
2022 2021 2022 2021 2022 2021 2021-2022
Revenues
Program revenues:
Fines, fees and charges for services
$ 88.0 $
83.1 $
266.9 $
249.6 $
354.9 $
332.7
6.7%
Operating grants and contributions
79.2
98.7
8.2
26.4
87.4
125.1
(30.1) i,
Capital grants and contributions
132.7
50.3
48.2
43.0
180.9
93.3
93.9%
General revenues:
Property taxes
447.9
400.6
-
-
447.9
400.6
11.8%
Other taxes and shared revenues
281.5
234.5
-
281.5
234.5
20.0%
Interest earnings
(55.9)
1.6
(22.9)
0.4
(78.8)
2.0
(4,040.0)%
Miscellaneous
7.9
18.4
0.2
1.5
8.1
19.9
(59.3)%
Total revenues
981.3
887.2
300.6
320.9
1,281.9
1,208.1
6.1%
Expenses
General government
139.0
129.8
-
-
139.0
129.8
7.1%
Public safety
274.3
237.4
274.3
237.4
15.5%
Physical environment
30.3
23.2
30.3
23.2
30.6%
Transportation
94.1
88.7
94.1
88.7
6.1%
Economic environment
41.4
14.4
41.4
14.4
187.5%
Human services
25.3
77.2
25.3
77.2
(67.2)%
Culture and recreation
70.8
59.3
70.8
59.3
19.4%
Interest on long-term debt
10.8
14.6
-
-
10.8
14.6
(26.0)%
Water and sewer
-
-
175.8
166.0
175.8
166.0
5.9%
Solid waste
51.1
51.9
51.1
51.9
(1.5)%
Emergency medical services
41.6
27.8
41.6
27.8
49.6%
Airport authority
11.6
7.8
11.6
7.8
48.7%
Mass transit
-
-
14.8
13.7
14.8
13.7
8.0%
Total expenses
686.0
644.6
294.9
267.2
980.9
911.8
7.6%
Increase in net position
before net transfers
295.3
242.6
5.7
53.7
301.0
296.3
1.6%
Transfers, net
(15.7)
(8.9)
15.7
8.9
-
-
0.0%
Change in net position
279.6
233.7
21.4
62.6
301.0
296.3
1.6%
Net position - beginning
2,100.3
1,866.6
1,138.3
1,075.7
3,238.6
2,942.3
10.1 %
Net position - ending
$ 2,379.9 $
2,100.3 $
1,159.7 $
1,138.3 $
3,539.6 $
3,238.6
9.3%
Expenses and revenues, in the form of fees, fines, grants and contributions, for governmental activities are shown graphically by
function. General revenues, such as property taxes, must be used to the extent that the fees, fines, grants and contributions do not
cover the cost of the governmental function. Public safety is the largest category of expenses followed by general government.
Pursuant to generally accepted accounting principles unrealized losses on investments are included with investment earnings.
Due to the increase in interest rates seen during fiscal year 2022, interest earnings are negative in the financial statements.
Negative interest earnings amounts are not included in the below tables.
Revenues and Expenses Governmental Activities
Fiscal Year 2022
300
200
c
0
100
0 11 11 In
General Public Safety Physical
Government Environment
11 so _■ ■
1
Transportation Economic Human Culture and
Environment Services Recreation
Revenues 0 Expenses
Revenues for governmental activities are shown graphically by type. The largest type of revenue for governmental activities is
property taxes followed by infrastructure sales tax.
Revenue by Type Governmental Activities
Fiscal Year 2022
Infrastructure sales tax: 11.6%
Miscellaneous revenue: 3.10/,
Tourist Taxes: 4.6%
Sales Taxes: 6.3%
Gas Taxes: 2.3%
Capital Grants and
Contributions: 12.8%
Operating Grants and
Contributions: 7.6%
Property Taxes: 43.2%
Fines, Fees and Charges
for Services: 8.5%
N.
Revenues and expenses are shown by business -type activity. The Water and Sewer system is the largest business -type activity
followed by the Solid Waste system. Pursuant to generally accepted accounting principles unrealized losses on investments
are included with investment earnings. Due to the increase in interest rates seen during fiscal year 2022, interest earnings are
negative in the financial statements. Negative interest earnings amounts are not included in the below tables.
Revenues and Expenses Business -type Activities
Fiscal Year 2022
250
200
c 150
0
100
50
0
Water and Sewer Solid Waste Emergency Medical Airport Authority Mass Transit
Services
Revenues 0 Expenses
Revenues for business -type activities are shown graphically by type. The largest type of revenue is fines, fees and charges for
services followed by capital grants and contributions.
Revenue by Type Business -type Activities
Fiscal Year 2022
Other Income: 0.1%
Capital Grants and
Contributions: 14.9%
Operating Grants and
Contributions: 2.5% lb
Fines, Fees and Charges for
Services: 82.5%
0j
Governmental Activities
The current year increase in the net position of governmental activities amounted to $279,657,133, an increase of 13.3% when
compared to the previous year's net position. The previous fiscal years' increase in net position was 12.5%. The current years'
increase is mainly due to the following:
Overall, revenues related to governmental activities increased by 10.6%, or $94,036,024 while expenses increased by
6.4%, or $41,270,008.
Governmental activities revenues increased primarily due to the 1 % Infrastructure Sales Tax. Effective January 1, 2019, the
tax generated $120,375,618 in revenue during fiscal year 2022. Also contributing to the increase was an increase in total ad
valorem taxes collected in fiscal year 2022, when compared to fiscal year 2021, of $47,293,578. The increase in ad valorem
revenues was due to a 5.5% increase in county wide taxable value and the re-establishment of a county wide millage of
.25 mills for Conservation Collier. In addition, sales tax increased $9,310,665 and tourist taxes increased $11,278,368 as
the County continues to see an increase in visitors after the pandemic. The County also received $69,475,500 in capital
contributions as a result of stormwater management permanent easement donations.
• Interest earnings decreased as a result of the fair value impact on investments of five Federal Reserve rate increases
totaling 3% during fiscal year 2022.
• Public safety expenses increased by $36,809,713 largely due to an increase in personal services as a result of a pay plan
increase in the current fiscal year as well as an increase in pension costs. In addition, economic environment expenses
increased by $27,007,742 or 187.8% and human services expenses decreased by $51,904,386 or 67.2% as the County
transitioned from the COVID-19 related grant programs to the American Rescue Plan grant programs.
• Interest expense decreased 25.9% over fiscal year 2021, primarily due to the refinancing of the Series 2011 and 2013
Special Obligation Refunding Revenue Bonds by the Series 2022A and 2022B Revenue Notes (bank term loans). These
issues are discussed in more detail in the notes to these financial statements.
Business -type Activities
The increase in net position related to business -type activities amounted to $21,334,127 in the aggregate, representing a 1.9%
increase over the previous year's net position. The previous fiscal year's increase in net position was 5.8%. The current year's
increase is mainly due to the following:
• The Collier County Water and Sewer District (District) saw an increase of $8,544,278 in net position. The increase in the
District's net position is largely due to a 2.9% user fee rate increase that went into effect October 1, 2021 and $38,490,241
of water and sewer capital grants and contributions, the majority of which is related to developer water and wastewater
infrastructure contributions.
• Solid Waste Disposal experienced an increase of $7,274,161 in net position. This increase is primarily due to a 3.2% rate
increase, offset by a $1,049,150 reduction in operating grants and contributions and a $1,344,998 reduction in insurance
reimbursements as Hurricane Irma reimbursements are closing out.
• Emergency Medical Services saw a decrease of $1,006,183 in net position. This decrease is primarily due to the increase
in personal services related to a pay plan adjustment and an increase in the allocated pension plan expense of $6,832,136.
Fund Financial Statement Analysis
As mentioned above, Collier County utilizes fund accounting to ensure compliance with finance related legal requirements.
Governmental Funds
Governmental funds provide information on near term inflows, outflows and balances of spendable resources. Unassigned fund
balance is a useful measure of net resources available to be spent at the end of the fiscal year. Governmental funds consist of
the General Fund, Special Revenue Funds, Permanent Funds, Debt Service Funds and Capital Project Funds.
As of September 30, 2022, Collier County governmental funds reported combined fund balances of $1,140,467,504, an increase of
$149,811,270 when compared to prior year combined fund balances. The governmental funds had non -spendable fund balances
of $10,804,056 consisting of inventory, prepaid items, notes receivable, endowments and advances to other funds. The restricted
fund balance was $822,594,485 and consists of monies whose expenditure is externally constrained by grantors, creditors, binding
law or enabling legislation. Of the remaining $307,068,963 in fund balance, $48,431,870 is classified as committed, $145,724,057
is recorded as assigned and $112,913,036 is recorded as unassigned.
10
The following were noteworthy activities and changes relating to the major governmental funds for fiscal year 2022:
• The General Fund is the primary operating fund of Collier County. At September 30, 2022, total fund balance in the General
Fund was $153,799,935, of which $114,549,101 was unassigned. Asa percentage of total general fund expenditures and
net transfers, the unassigned portion is 25.4%. The total fund balance increased by $21,037,984 or 15.8%, compared to
the September 30, 2021 total fund balance. The General Fund's total fund balance increased due to increased Ad Valorem
Tax collections of $18,203,537. This increase was directly related to a 5.5% increase in county wide taxable value. There
was also a $23.5 million increase in intergovernmental revenue as a result of an additional $8.9 million in half cent sales
tax and State revenue sharing and $10 million in revenue recovery from the Coronavirus State and Local Fiscal Recovery
Funds under the American Rescue Plan Act of 2021. The increases in revenue were offset by a $16.3 million increase in
the Sheriff's personal services due to pay plan adjustments.
• The Bayshore Gateway Community Redevelopment Agency was created to benefit blighted areas in the Bayshore Gateway
Triangle community. During fiscal year 2022, the Bayshore Gateway Community Redevelopment Agency collected
$2,683,300 in tax increment revenues. In addition, the Agency received $30,000 in charges for services related to the
water line and fire hydrant project and ($361,902) in interest earnings. Operating expenditures of $1,063,823, mainly
consisting of personal services and planning consulting services within the district. In addition, capital expenditures of
$27,921 were made for stormwater, fencing and parking lot improvements.
• The Immokalee Community Redevelopment Agency was created to benefit blighted areas in Immokalee. During fiscal
year 2022, the Immokalee Community Redevelopment Agency collected $1,007,000 in tax increment revenues. In addition,
the Agency received $67,636 in charges for services related to the sidewalk project and ($84,147) in interest earnings.
Operating expenditures of $410,970, mainly personal services and general operating expenditures, were associated with
the Immokalee Community Redevelopment Agency. In addition, debt service expenditures of $36,221 were made for
leased office space.
• The Grants and Shared Revenue fund was established to account for the revenues received from federal, state and local
grants. The Grants and Shared Revenue fund saw a decrease in intergovernmental revenue of $32,942,222 and an increase
in economic environment expenditures of $29,421,178 and a decrease in human services expenditures of $58,305,416 in
fiscal year 2022, primarily as a result of state and local grants shifting from COVID-19 response and related community
assistance to economic recovery and housing assistance. Grant funded capital outlay included $1,454,308 for road
improvements, $942,678 in traffic operations network upgrades and $260,267 in vehicles and equipment.
• The Infrastructure Sales Tax fund was established to account for the proceeds of the 1 % Infrastructure Sales Tax. The
tax was effective as of January 1, 2019 and fiscal year 2022 collections were $120,375,618. The Infrastructure Sales Tax
Fund had interest earnings of ($9,756,993) and capital outlay totaled $31,656,065. Capital outlay included $6,978,779
for the Big Corkscrew Island Regional Park, $632,905 for various air conditioning improvements, $15,130,718 for road
and bridge projects, $362,220 for the Sheriff's Forensics Building and other jail improvements, $950,526 for building
automation and energy management system improvements, $1,179,247 for hurricane resiliency projects, $1,046,739 for
the new chiller plant, $346,961 for the new mental health facility, $33,509 for the Emergency Operations Center garage
enclosure and $349,111 for the new Emergency Medical Services Station in Golden Gate Estates.
Proprietary Funds
Proprietary fund statements provide the same information as the business -type activities in the government -wide financial
statements, but in greater detail, and on a fund basis for enterprise funds.
At September 30, 2022, total net position amounted to $1,161,930,947 for enterprise funds, as compared to $1,141,034,869, as
of September 30, 2021, an increase of $20,896,078. Net position changes as a result of operations, non -operating revenues and
expenses, capital contributions and grants and donations. For fiscal year 2022, the County Water and Sewer fund's activities
represent the largest share of the increase in the business -type net position.
For the year ended September 30, 2022, the Collier County Water and Sewer District (District) reported capital grants and
contributions of $38,490,241, which consists of water and sewer impact fees of $19,814,420, $18,426,432 in developer
infrastructure contributions and other capital contributions of $249,389.
Emergency Medical Services reported charges for services of $18,445,230 in 2022. Personal services expenditures increased
from $19,742,095 in fiscal year 2021 to $32,617,400 in fiscal year 2022 due to an increase in the pay plan along with an increase
in pension costs. For fiscal year 2022, Emergency Medical Services relied on a $21,369,500 transfer from the General Fund to
supplement the user charges to provide emergency medical services to the County.
11
Net Operating Income/(Loss)
2022
2021
County Water and Sewer
$ 12,998,887 $
11,192,448
Solid Waste Disposal
9,269,912
7,401,517
Emergency Medical Services
(22,997,903)
(13,574,387)
Non -major enterprise funds
(14,616,257)
(12,854,780)
Total
$ (15,345,361) $
(7,835,202)
The Collier County Water and Sewer District's net operating income increased by $1,806,439, or 16.1 %, when compared to fiscal
year 2021. The increase in net operating income was primarily the result of a 2.9% rate increase effective October 2021, offset by
a 4.7% increase in total operating expenses, including depreciation and amortization. Personal services expenses increased due
to a pay plan increase as well as an increase of $921,563 for pension expense. General and administrative expenses increased
by $2,053,440 as a result of increasing electricity rates and the cost of chemicals used in water production and wastewater
treatment. County Water and Sewer payments in lieu of taxes paid to the General Fund of $9,731,800 were reclassified from
operating expense to transfers out for financial statement purposes. These payments are reclassified pursuant to generally
accepted accounting principles as the amount charged is not an approximation of services rendered.
The Solid Waste Disposal fund's net operating income increased by $1,868,395, or 25.2%, when compared to fiscal year 2021.
The increase in net operating income was primarily the result of a 3.3% increase in tipping rate offset by a 1.2% decrease in total
operating expenses, including depreciation and amortization. The Solid Waste Disposal payments in lieu of taxes paid to the
General Fund of $427,500 were reclassified from operating expense to transfers out for financial statement purposes. These
payments are reclassified pursuant to generally accepted accounting principles as the amount charged is not an approximation
of services rendered.
The Emergency Medical Services fund's net operating loss increased by $9,423,516, or 69.4%, when compared to fiscal year 2021.
The increase in net operating loss was mainly brought by the increase in personal services related to a pay plan adjustment and
an increase in the allocated pension plan expense of $6,832,136.
Capital Assets
Collier County's financial statements present capital assets in two distinct groups, those that are depreciated and those not subject
to depreciation. Buildings and equipment are examples of assets that are depreciated and land and construction in progress
are examples of assets not depreciated. Collier County's investment in capital assets for the governmental and business -type
activities amounted to $2,933,264,748, net of accumulated depreciation. This investment in capital assets includes land, buildings
and improvements, water and wastewater plants, machinery and equipment, parks, roads, beach renourishment and drainage
structures. Investment in capital assets for the current fiscal year net of accumulated depreciation increased by $122,058,021,
when compared to the previous year. There was an increase in the governmental activities capital assets of $103,827,980, or 5.9%,
while the business -type activities capital assets increased by $18,230,041, or 1.7%. The major capital asset activities during the
current and previous fiscal years are as follows:
• Capitalization from construction in process of $66,155,126 in governmental activity costs including $12,515,500 related
to the construction of the Heritage Bay Government Building, $18,129,732 for Big Island Corkscrew Regional Park, and
$7,188,803 in beach renourishment. The remaining $28,321,091 is related to $4,773,229 in other transportation projects,
$9,077,958 in park facilities, $3,297,727 in public safety projects, $5,887,998 in stormwater projects and $5,284,179 in
other capital projects.
• The business -type activities capitalized $45,692,071 of construction in process during fiscal year 2022 including
$8,513,111 for improvements to the Naples Park Basin, $9,261,994 for runway improvements and other airport projects,
$15,713,252 in water line improvements in the 1-75/County Road 951 area, $1,368,490 in master pump and force main
system improvements, $9,695,912 in other County Water and Sewer projects and $600,621 for Solid Waste projects. The
remaining $538,691 was for various Mass Transit projects.
• Developer donated water and wastewater infrastructure in fiscal year 2022 amounted to $18,426,432 and $18,180,218
in fiscal year 2021. Subdivisions are required to meet County standards when installing water and wastewater services.
Once completed and inspected, these assets are donated to and accepted by the County.
• Collier County acquired $82,708,568 of land and non -depreciable assets in fiscal year 2022, compared to $39,481,138 for
fiscal year 2021. Fiscal year 2022 land acquisitions were primarily related to the acceptance of $69.6 million in stormwater
permanent easements from the Florida Department of Transportation.
Additional information regarding Collier County's capital assets can be found in Note 6 beginning on page 55 of this report.
12
Debt Administration
At September 30, 2022, Collier County had total bonded debt, notes, loans, leases and financed purchase obligations of
$757,567,596, a decrease of $52,028,189 from the previous year. The following table illustrates the balances of all bonds, notes,
loans, capital leases and financed purchase obligations for the fiscal years ended September 30, 2022 and 2021:
Outstanding Debt
2022 2021
Revenue Bonds $ 471,978,619 $ 607,311,269
Direct Placement Loans Payable 234,133,732 143,698,000
Commercial Paper and Notes Payable 43,538,848 50,429,848
Leases 7,916,397 8,128,231
Financed purchase obligations - 28,437
Total outstanding debt $ 757,567,596 $ 809,595,785
Collier County's Special Obligation Revenue Bonds carry ratings of Aaa, AAA and AA+ by Moody's, Standard and Poor's and Fitch
Ratings, Inc., respectively. The Series 2017, 2019, 2022A and 2022B Special Obligation Refunding Revenue Notes (Bank Term
Loans) were issued as direct placements with commercial banks and therefore carry an implied rating of Aaa, AAA and AA+ by
Moody's, Standard and Poor's and Fitch Ratings, Inc., respectively. The County's Series 2012 Gas Tax Refunding Revenue Bonds
carry ratings of A2, A+ and AA- by Moody's, Standard and Poor's and Fitch Ratings, Inc., respectively. The Series 2014 Gas Tax
Refunding Revenue Bond (Bank Term Loan) was issued as a direct placement with a commercial bank and therefore carries an
implied rating of A2, A+ and AA- by Moody's, Standard and Poor's and Fitch Ratings, Inc., respectively. Collier County's Tourist
Development Tax Revenue Bonds carry ratings of Aa3 and AA+ by Moody's and Fitch Ratings, Inc., respectively. Collier County's
Senior Lien Water and Sewer Revenue Bonds carry ratings of Aaa and AAA, respectively, by Moody's and Fitch Ratings, Inc. The
Series 2018 County Water and Sewer Revenue Bond was issued as a direct placement with a commercial bank and, as such,
carries an implied rating of Aaa and AAA by Moody's and Fitch Ratings, Inc., respectively.
The Constitution of the State of Florida, Florida Statute 200.181 and Collier County set no legal debt limit. Further information
regarding Collier County's long-term debt can be found in Note 7 beginning on page 56 of this report.
General Fund Budgetary Highlights
During the 2022 fiscal year, the General Fund expenditure appropriations increased by $11,363,194. Significant variances between
the original budget and the final amended budget are listed below:
• $706,006 increase in Facilities Management operating expenditures due to increases in contract rates.
• $6,306,999 increase in Sheriff personal services for a pay plan adjustment put in place in the fourth quarter of 2022.
• $1,025,502 increase in Economic Development operating due to re -budgeting of lapsed appropriations from the previous
fiscal year primarily to provide impact fee assistance for the new Immokalee Career Path Learning Lab.
• $566,681 in Parks Operations operating due to re -budgeting of lapsed appropriations from the previous fiscal year primarily
for equipment that was ordered prior to the end of the 2021 fiscal year, but was not received until 2022.
• $643,386 in Parks Maintenance operating due to an increase in the cost of supplies as well as an increased focus on
park maintenance in the 2022 fiscal year.
Significant variances between actual results and final budget amounts in the General Fund occurred during fiscal year 2022. Tax
revenues were under budget by $13,943,239 primarily due to the early payment discount allowed for property taxes. The discount
ranges from a maximum 4.0% to 1.0%, depending on the date of payment.
Other general administrative operating was under budget $3,269,684 due to anticipated projects being put on hold as County
Management evaluates priorities for the current fiscal year. Sheriff personal services was $7,047,629 under budget and the
capital outlay was $3,682,748 over budget for the 2022 fiscal year. The Sheriff was under budget in personal services due to
many vacant positions during the year and was over budget in capital outlay as a result of outfitting their new helicopter with
additional equipment. The Economic Development operating was $1,489,844 under budget due to delays in various projects due
to the pandemic. The Economic Development Department re -budgeted the majority of these funds in fiscal year 2023. Mental
health operating under budget $1,105,123 due to a reduction in required contributions to mental health service providers. Park
operations were $1,096,079 under budget in large part due to the Big Corkscrew Regional Park not being fully operational and
lower than expected maintenance costs at the Golden Gate Golf Course property.
13
Economic Factors and Year 2023 Budgets and Rates
The following factors were taken into account in preparing the fiscal year 2023 budget:
• A 3.5% increase in countywide taxable property values.
• Millage neutral General Fund tax rate.
• Implement the second phase of the compensation and pay plan adjustments with a budget allocation of $10 million for
the County Manager's Agency.
• Maintain health care program contributions at 80% employer and 20% employee across all agencies (excluding Sheriff).
During fiscal year 2022, the General Fund unassigned fund balance decreased by $2,566,802 to $114,549,101. As of January 6,
2023, $102,814,199 of the fiscal year 2022 unassigned fund balance has been appropriated as carryforward for fiscal year 2023,
with $57,027,100 budgeted in reserves.
On September 28, 2022, Hurricane Ian made landfall just north of Collier County as a category 4 storm. The County currently
estimates a $125.2 million financial impact including $65.0 million for debris removal and $25.0 million for an emergency berm
along the County beaches to provide future storm surge protection. The majority of these costs are expected to be reimbursed
by the Federal Emergency Management and insurances.
Contact Information
This financial report is intended to give the user a general overview of Collier County Government's finances. Any questions
resulting from review of this information may be addressed to:
Collier County Clerk of the Circuit Court and Comptroller
Department of Finance and Accounting
3299 Tamiami Trail East, Suite #403
Naples, Florida 34112-5746
Our office may also be contacted via the internet at www.colliercierk.com.
14
r
Basic Financial
Statements
COLLIER COUNTY, FLORIDA
STATEMENT OF NET POSITION
September 30, 2022
ASSETS
Current assets:
Cash and investments
Trade receivables, net
Special assessments receivable
Interest receivable
Due from other governments
Lease receivable
Internal balances
Deposits
Inventory
Prepaid costs
Restricted assets:
Cash and investments
Trade receivables, net
Lease receivable
Notes receivable
Interest receivable
Due from other governments
Deposits
Inventory
Inventory for resale
Total current assets
Noncurrent assets:
Restricted assets:
Cash and investments
Lease receivable
Notes receivable
Impact fee receivable
Lease receivable
Notes receivable
Capital assets:
Land and non -depreciable capital assets
Depreciable capital assets, net
Total noncurrent assets
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Deferred charges on debt refundings
Deferred outflows of resources related to OPEB
Deferred outflows of resources related to pensions
Total deferred outflows of resources
The notes to the financial statements are an integral part of this statement.
Primary Government
Governmental Business -type Component
Activities Activities Total Units
$ 408,715,507 $
274,476,372 $
683,191,879 $ 475,561
1,911,071
22,294,660
24,205,731 -
1,405
87,835
89,240
503,681
702,220
1,205,901
12,968,621
5,383,132
18,351,753
290,532
127,944
418,476
3,710,246
(3,710,246)
-
20,118
1,694,097
1,714,215
1,828,623
8,528,051
10,356,674
3,309,465
129,121
3,438, 586
116,211,150
13,170,328
129,381,478
1,889,674
-
1,889,674
575
575
53,979
-
53,979
1,039,758
25,309
1,065,067
31,386,677
4,172,976
35,559,653
1,875
-
1,875
1,170,909
1,170,909
3,888,793
-
3,888,793 -
588,902,659
327,081,799
915,984,458 475,561
773,201,163 203,242,761
976,443,924
18,523 -
18,523
189,428
189,428
7,271,455 -
7,271,455
6,352,493 2,543,570
8,896,063
1,492,848 -
1,492,848
728,843,471
178,125,687
906,969,158
1,127,909,726
898,385,864
2,026,295,590
2,645,279,107
1,282,297,882
3,927,576,989 -
3,234,181,766
1,609,379,681
4,843,561,447 475,561
3,953,670 2,158,123 6,111,793
18,041, 067 132,467 18,173, 534
79,410, 517 18,626,051 98,036,568
$ 101,405,254 $ 20,916,641 $ 122,321,895 $
16
COLLIER COUNTY, FLORIDA
STATEMENT OF NET POSITION (continued)
September 30, 2022
Primary Government
Governmental
Business -type
Component
Activities
Activities
Total Units
LIABILITIES
Current liabilities:
Accounts payable
$ 17,236,314
$ 13,667,643 $
30,903,957 $
Wages payable
11,167,913
3,730,446
14,898,359
Retainage payable
523,426
1,955,578
2,479,004
Due to other governments
5,901,834
15,443
5,917,277
Self-insurance claims payable
9,472,974
-
9,472,974
Compensated absences
12,677,286
3,273,833
15,951,119
Unearned revenue
150,171
62,746
212,917
Net pension liability
60,829
12,884
73,713
Landfill post -closure liability
-
39,413
39,413
Leases payable
877,073
97,703
974,776
Bonds, loans and notes payable
30,235,000
10,233,000
40,468,000
Liabilities payable from restricted assets:
Accounts payable
22,228,897
3,532,959
25,761,856
Wages payable
2,609,856
-
2,609,856
Retainage payable
7,563,227
2,455,335
10,018,562
Refundable deposits
6,146,046
198,092
6,344,138
Interest payable
4,697,173
2,968,340
7,665,513
Due to other governments
4,320,431
117,960
4,438,391
Unearned revenue
56,738,625
85,542
56,824,167
Bonds, loans and notes payable
-
3,480,848
3,480,848
Total current liabilities
192,607,075
45,927,765
238,534,840
Noncurrent liabilities:
Self-insurance claims payable
2,410,072
-
2,410,072
Compensated absences
23,917,334
818,458
24,735,792
Leases payable
6,431,940
509,681
6,941,621
Landfill post -closure liability
-
1,348,017
1,348,017
Total OPEB liability
38,988,799
2,381,033
41,369,832
Net pension liability
298,939,089
66,547,847
365,486,936
Bonds, loans and notes payable
358,423,758
347,278,593
705,702,351
Total noncurrent liabilities
729,110,992
418,883,629
1,147,994,621
Total liabilities
921,718,067
464,811,394
1,386,529,461
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
6,127,367
2,580,067
8,707,434
Deferred inflows of resources related to OPEB
7,440,926
616,853
8,057,779
Deferred inflows of resources related to pensions
20,357,472
2,630,397
22,987,869
Total deferred inflows of resources
33,925,765
5,827,317
39,753,082
NET POSITION
Net investment in capital assets
1,509,272,394
870,966,299
2,380,238,693
Restricted for:
Growth related capital expansion
177,223,597
21,172,753
198,396,350
Transportation capital projects
46,318,237
-
46,318,237
Community development
40,168,716
40,168,716
Tourist development
124,277,153
124,277,153
Conservation Collier
47,202,764
47,202,764
Community redevelopment
13,250,085
13,250,085
Infrastructure sales tax capital projects
283,111,965
-
283,111,965
Grants
14,168,365
4,617,873
18,786,238
Debt service
1,169,310
22,420,366
23,589,676
Court programs
18,790,047
-
18,790,047
Public safety
6,527,807
6,527,807
Nonexpendable purposes - other
5,522,800
5,522,800
Special revenues - other
5,089,284
-
5,089,284
Renewal and replacement
-
300,000
300,000
Unrestricted
87,850,664
240,180,320
328,030,984 475,561
Total net position
$ 2,379,943,188
$ 1,159,657,611 $
3,539,600 799 $ 475,561
17
COLLIER COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
For the Fiscal Year Ended September 30, 2022
FUNCTIONS/PROGRAMS
Primary Government:
Governmental Activities:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Interest and fiscal charges
Total governmental activities
Business -type Activities:
Water and sewer
Solid waste
Emergency medical services
Airport authority
Mass transit
Total business -type activities
Total primary government
Component Units:
Industrial Development Authority
Health Facilities Authority
Housing Finance Authority
Educational Facilities Authority
Total component units
The notes to the financial statements are an integral part of this statement.
Program Revenues
Fees, Fines and Operating Capital
Charges for Grants and Grants and
Expenses Services Contributions Contributions
$ 138,960,771 $
46,132,921 $
1,427,618 $
5,706,065
274,244,307
28,899,566
14,678,465
5,325,922
30,338,183
560,776
4,101,756
72,434,949
94,079,401
1,700,283
5,526,452
33,871,700
41,387,106
160,213
40,483,525
8,940
25,313,857
536,038
12,405,639
-
70,800,140
10,014,985
622,664
15,354,903
10,817,510
-
-
-
685,941,275 88,004,782 79,246,119 132,702,479
175,793,660
177,259,852
- 38,247,663
51,071,233
60,340,180
106,431 -
41,625,852
18,490,663
1,711,537 -
11,612,361
9,633,191
76,424 5,616,470
14,765,813
1,140,274
6,277,688 4,332,756
294,868,919 266,864,160 8,172,080 48,196,889
$ 980,810,194 $ 354,868,942 $ 87,418,199 $ 180,899,368
$ 7,675
$ - $ $
4,687
41,250
8,125
60,500
1,189
8,273
$ 21,676
$ 110,023 $ $
General revenues:
Property taxes
Gas taxes
Sales tax
Touristtaxes
Communications services tax
Infrastructure sales tax
State revenue sharing
Othertaxes
Interest earnings
Miscellaneous
Transfers, net
Total general revenues and transfers
Change in net position
Net position - beginning
Net position - ending
18
Net (Expense) Revenue and Changes in Net Position
Primary Government
Governmental Business -type Component
Activities Activities Total Units
$ (85,694,167) $
$
(85,694,167) $
(225,340,354)
(225,340,354)
46,759,298
46,759,298
(52,980,966)
(52,980,966)
(734,428)
(734,428)
(12,372,180)
(12,372,180)
(44,807,588)
(44,807,588)
(10,817,510)
(10,817,510)
(385,987,895)
(385,987,895)
39,713,855
39,713,855
9,375,378
9,375,378
(21,423,652)
(21,423,652)
3,713,724
3,713,724
(3,015,095)
(3,015,095)
28,364,210
28,364,210
$ (385,987,895) $
28,364,210 $
(357,623,685)
$ (7,675)
36,563
52,375
$ 88,347
$ 447,900,612 $
$
447,900,612 $
24,195,878
24,195,878
65,042,976
65,042,976
47,470,485
47,470,485
4,037,536
4,037,536
120,375,618
120,375,618
17,758,152
17,758,152
2,621,516
2,621,516
(55,942,580)
(22,904,691)
(78,847,271) -
7,898,585
160,858
8,059,443 131
(15,713,750)
15,713,750
- -
665,645,028
(7,030,083)
658,614,945 131
279,657,133 21,334,127 300,991,260 88,478
2,100,286,055 1,138,323,484 3,238,609,539 387,083
$ 2,379,943,188 $ 1,159,657,611 $ 3,539,600,799 $ 475, 661
19
COLLIER COUNTY, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
September 30, 2022
Bayshore
Gateway
Immokalee
Community
Community
Grants and
Other
Total
General Redevelopment
Redevelopment
Shared Infrastructure Governmental
Governmental
Fund
Agency
Agency
Revenue
Sales Tax Funds
Funds
ASSETS
Cash and investments
$ 168,876,979 $
7,823,709 $
1,807,931 $
65,201,995 $
264,997,024 $704,556,761
$ 1,213,264,399
Receivables:
Interest
185,251
9,891
2,276
82,713
299,217 853,733
1,433,081
Trade, net
515,179
-
-
1,743
- 2,078,887
2,595,809
Notes
1,492,848
-
243,407
1,736,255
Impact fee
-
7,271,455
7,271,455
Special assessments
-
1,405
1,405
Lease
405,564
-
6,256,559
6,662,123
Due from other funds
1,019,111
-
343,598
54,276 4,199,150
5,616,135
Due from other governments
8,905,388
13,355
4,870,914
17,761,448 12,706,609
44,257,714
Deposits
20,118
-
625
-
- 1,250
21,993
Inventory for resale
-
3,694,000
-
194,793
3,888,793
Inventory
894,057
-
1,470,752
2,364,809
Advances to other funds
268,100
18,882,818
19,150,918
Prepaid costs
1,155,499
-
-
-
1,155,499
Total assets
$ 183, 338,094 $
11,540,955 $
1,810,832 $
70,500,963 $ 283, 111,965 $758, 117,579
$ 1,309,420,388
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities:
Accounts payable
$ 10,963,405 $
61,113 $
3,973 $
4,242,845 $
8,170,734 $ 14,255,706
$ 37,697,776
Wages payable
9,464,876
25,282
11,107
218,666
- 3,636,524
13,356,455
Due to other funds
2,882,930
-
-
1,635,002
1,261,718
5,779,650
Due to other governments
4,935,614
227
121,030
5,126,117
10,182,988
Unearned revenues
10
-
56,390,628
350,748
56,741,386
Refundable deposits
1,310,910
-
4,835,136
6,146,046
Retainage payable
-
108,961
2,237,680 5,740,012
8,086,653
Advances from other funds
-
-
- 17,550,493
17,550,493
Total liabilities
29,557,745
86,395
15,307
62,717,132
10,408,414 52,756,454
155,541,447
Deferred inflows of resources:
Unavailable revenue
2,500
-
-
10,115
- 7,271,455
7,284,070
Related to leases
377,914
-
5,749,453
6,127,367
Total deferred inflows of
resources
380,414
10,115
13,020,908
13,411,437
Fund balances:
Nonspendable
3,810,504
-
-
-
6,993,552
10,804,056
Restricted
196,863
11,454,560
1,795,525
7,773,716
272,703,551 528,670,270
822,594,485
Committed
-
-
-
-
- 48,431,870
48,431,870
Assigned
35,243,467
110,480,590
145,724,057
Unassigned
114,549,101
(1,636,065)
112,913,036
Total fund balances
153,799,935
11,454,560
1,795,525
7,773,716
272,703,551 692,940,217
1,140,467,504
Total liabilities, deferred inflows of
resources and fund balances
$ 183, 338,094 $
11,540,955 $
1,810,832 $
70,500,963 $ 283, 111,965 $758, 117,579
$ 1,309,420,388
The notes to the financial statements are an integral part of this statement.
20
COLLIER COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITION
September 30, 2022
Differences in amounts reported for governmental activities in the statement of net position on pages 16-17:
Fund balances - total governmental funds
$ 1,140,467,504
Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds. Those assets consist of:
Land and other non -depreciable assets $ 606,346,878
Construction in progress 122,496,593
Depreciable assets, net of $1,268,135,508
in accumulated depreciation 1,108,259,016
Certain revenues will be collected after year-end, but are not available to pay for the current period's expenditures, and therefore are
reported as deferred inflows in the funds.
Certain liabilities applicable to the County's governmental activities are not due and payable in the current period and accordingly are not
reported as fund liabilities. Interest on long-term debt is not accrued in the governmental funds, but is recognized as an expenditure when
due. All liabilities are reported in the statement of net position. Balances at September 30, 2022 are:
Accrued interest on bonds, loans and notes payable
Bonds, loans and notes payable
Lease obligations
Compensated absences
Total OPEB liability
Pension liability
Unamortized premiums
Unamortized discount
Unamortized deferred charges on refunding
OPEB related deferred outflows
Pension related deferred outflows
OPEB related deferred inflows
Pension related deferred inflows
$ (4,697,173)
(370,364,000)
(7,302,114)
(36,017,987)
(38,712,737)
(293,078,638)
(18,480,026)
185,268
1,837,102,487
7,284,070
(768,467,407)
3,953,670
18,023,252
77,807,801
(7,367,577)
(20,072,617)
Internal service funds are used by the County to charge self-insurance, fleet management, motor pool capital recovery and information
technology services to individual funds. The assets, deferred outflows, liabilities and deferred inflows of the internal service funds are
included in governmental activities in the statement of net position. Internal service fund net position at September 30, 2022 is: 91,212,005
Total net position - governmental activities
The notes to the financial statements are an integral part of this statement.
$ 2,379,943,188
21
COLLIER COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GOVERNMENTAL FUNDS
For the Fiscal Year Ended September 30, 2022
Bayshore
Gateway
Immokalee
Community
Community
Grants and
Other
Total
General
Redevelopment
Redevelopment
Shared
Infrastructure
Governmental
Governmental
Fund
Agency
Agency
Revenue
Sales Tax
Funds
Funds
Revenues:
Taxes
$ 354,674,261
$ 2,683,300
$ 1,007,000
$
$ 120,375,618
$ 159,057,897
$ 637,798,076
Licenses, permits and impact fees
249,987
-
-
-
86,827,525
87,077,512
Intergovernmental
94,960,562
-
-
45,342,185
19,569,797
159,872,544
Charges for services
23,086,015
30,000
67,636
297,273
21,105,420
44,586,344
Fines and forfeitures
316,004
-
-
-
2,181,586
2,497,590
Interest earnings
(8,067,924)
(361,902)
(84,147)
(2,627,533)
(9,756,993)
(30,957,799)
(51,856,298)
Special assessments
-
-
15,227,972
15,227,972
Miscellaneous
920,972
-
-
90,051
5,443,453
6,454,476
Total revenues
466,139,877
2,351,398
990,489
43,101,976
110,618,625
278,455,851
901,658,216
Expenditures:
Current:
General government
85,982,255
-
-
693,501
-
31,555,676
118,231,432
Public safety
212,082,343
1,497,854
34,119,672
247,699,869
Physical environment
816,110
803,625
24,127,486
25,747,221
Transportation
384,369
182,240
58,705,778
59,272,387
Economic environment
1,191,548
1,063,823
410,970
36,302,307
1,889,106
40,857,754
Human services
12,459,628
-
-
4,980,207
7,768,068
25,207,903
Culture and recreation
21,001,761
-
760,968
34,710,580
56,473,309
Debt service
Principal
479,592
36,140
39,538
28,205,714
28,760,984
Interest
53,400
81
59
13,465,696
13,519,236
Fiscal charges
-
-
-
-
170,974
170,974
Capital outlay
19,418,854
27,921
-
3,691,649
31,656,065
73,041,513
127,836,002
Total expenditures
353,869,860
1,091,744
447,191
48,951,948
31,656,065
307,760,263
743,777,071
Excess (deficit) of revenues
over (under) expenditures
112,270,017
1,259,654
543,298
(5,849,972)
78,962,560
(29,304,412)
157,881,145
Other financing sources (uses):
Refunding loans issued
-
-
-
-
108,425,000
108,425,000
Loans issued
1,000,000
1,000,000
Discount on refunding loans
issued
(188,900)
(188,900)
Payment to refunding escrow
(108,043,685)
(108,043,685)
Leases
273,585
-
591,380
864,965
Sale of capital assets
4,289,172
109
372,432
4,661,713
Insurance proceeds
203,542
-
-
-
638,467
842,009
Transfers in
22,902,031
210,900
92,800
2,307,139
159,690,030
185,202,900
Transfers out
(118,900,363)
(53,800)
(127,900)
(19,600)
(81,732,214)
(200,833,877)
Total other financing sources
(uses)
(91,232,033)
157,100
(35,100)
2,287,648
80,752,510
(8,069,875)
Net change in fund balances
21,037,984
1,416,754
508,198
(3,562,324)
78,962,560
51,448,098
149,811,270
Fund balances at beginning of year
132,761,951
10,037,806
1,287,327
11,336,040
193,740,991
641,492,119
990,656,234
Fund balances at end of year
$ 153,799,935
$ 11,454,560
$ 1,795,525
$ 7,773,716
$ 272,703,551
$ 692,940,217
$1,140,467,504
The notes to the financial statements are an integral part of this statement
22
COLLIER COUNTY, FLORIDA
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
For the Fiscal Year Ended September 30, 2022
Differences in amounts reported for governmental activities in the statement of activities on pages 18-19:
Net change in fund balances - total governmental funds
Governmental funds report capital outlays as expenditures. However, in the statement of net position the cost of
these assets is allocated over their estimate useful lives and reported as depreciation and amortization expense.
Capital outlay
Depreciation and amortization expense
Donations of capital assets are not financial resources to governmental funds, but receiving donated assets
increases net position in the statement of net position.
Capital assets transferred to and from proprietary funds are not recorded in the governmental funds as there is no
flow of current financial resources.
In the statement of net position, the gain or loss on the sale of capital assets is reported. However, in the
governmental funds the proceeds from the sale of capital assets increase financial resources. The change in net
position differs from the change in fund balances by the net book value of capital assets disposed.
Certain revenues not considered available are not recognized in the governmental funds but are included in the
statement of activities.
Debt proceeds provide current financial resources for governmental funds, but issuing debt increases liabilities in the
statement of net position. Repayment of principal on long-term debt is an expenditure in governmental funds, but a
reduction of long-term liabilities in the statement of net position.
Loan proceeds
Bond, loan and note principal payments
Payment to refunding escrow
Discount on refunding loans issued
Lease proceeds
Payments on lease obligations
Certain amounts 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.
$ 149,811,270
$ 127,836,002
(93,037,096) 34,798,906
72,884,427
(269,273)
(2,927,819)
679,376
$ (109,425,000)
27,753,000
108,043,685
188,900
(864,965)
1,007,984 26,703,604
Compensated absences
$ (1,691,196)
OPEB expense
(1,439,655)
Pension expense
(3,555,074)
Accrued interest on bonds, loans and notes payable
1,908,070
Amortization of deferred charges on refunding
(738,102)
Amortization of premiums
1,706,494
Amortization of discount
(3,633) (3,813,096)
The net revenues of internal service funds are reported with governmental activities.
Change in net position - governmental activities
The notes to the financial statements are an integral part of this statement.
1,789,738
$ 279,657,133
23
COLLIER COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
For the Fiscal
Year Ended September 30,
2022
Original
Final
Budget
Budget
Actual
Variance
Revenues:
Taxes
$ 368,617,500 $
368,617,500 $
354,674,261
$ (13,943,239)
Licenses, permits and impact fees
363,400
363,400
249,987
(113,413)
Intergovernmental
54,199,000
54,199,000
94,960,562
40,761,562
Charges for services
24,625,760
26,419,433
23,086,015
(3,333,418)
Fines and forfeitures
422,100
422,100
316,004
(106,096)
Interest earnings
949,300
1,024,300
1,591,994
567,694
Miscellaneous
9,407,700
9,438,235
9,397,772
(40,463)
Total revenues
458,584,760
460,483,968
484,276,595
23,792,627
Expenditures:
Current:
General government
Board of County Commissioners personal services
1,270,400
1,301,100
1,294,786
6,314
Board of County Commissioners operating
118,800
118,800
87,566
31,234
County manager administrative personal services
1,378,800
1,378,800
1,251,496
127,304
County manager administrative operating
103,400
103,400
49,593
53,807
Corporate planning and improvement personal services
552,200
577,200
563,133
14,067
Corporate planning and improvement operating
40,500
40,500
20,132
20,368
Budget and management personal services
740,200
782,200
737,613
44,587
Budget and management operating
73,900
86,197
67,245
18,952
Administrative services personal services
3,562,200
3,466,200
3,364,037
102,163
Administrative services operating
463,500
592,797
473,892
118,905
Human resources administration personal services
1,788,600
1,744,000
1,651,624
92,376
Human resources administration operating
697,300
779,054
563,708
215,346
Clerk of the Circuit Court personal services
10,402,400
10,696,900
10,677,617
19,283
Clerk of the Circuit Court operating
3,394,400
3,791,400
3,752,408
38,992
Clerk of the Circuit Court capital outlay
270,800
23,000
77,338
(54,338)
Property Appraiser personal services
7,130,437
7,133,755
6,548,185
585,570
Property Appraiser operating
2,226,563
2,223,245
2,139,296
83,949
Property Appraiser capital outlay
35,000
35,000
20,920
14,080
Tax Collector personal services
14,156,457
14,156,456
13,550,521
605,935
Tax Collector operating
3,961,248
3,961,248
4,275,318
(314,070)
Tax Collector capital outlay
3,280,100
3,280,100
2,647,705
632,395
County attorney personal services
2,500,200
2,500,200
2,419,983
80,217
County attorney operating
342,200
638,513
175,526
462,987
County attorney capital outlay
10,000
11,389
-
11,389
Circuit court operating
40,300
41,930
11,903
30,027
County court operating
27,000
33,694
11,806
21,888
State Attorney operating
422,300
451,300
437,096
14,204
Public Defender operating
309,400
309,400
309,400
-
Other general administrative personal services
200,000
89,600
18,380
71,220
Other general administrative operating
12,980,300
13,077,142
9,807,458
3,269,684
Facilities management personal services
6,884,500
6,904,500
6,692,981
211,519
Facilities management operating
9,462,700
10,168,706
9,919,312
249,394
Facilities management capital outlay
135,000
303,000
218,720
84,280
Sheriff personal services
4,634,500
4,787,500
5,082,544
(295,044)
Sheriff operating
192,100
192,100
170,787
21,313
(continued)
24
COLLIER COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
For the Fiscal Year Ended September 30, 2022
Original
Final
Budget
Budget
Actual
Variance
Supervisor of Elections personal services
2,564,800
2,634,800
2,617,041
17,759
Supervisor of Elections operating
1,792,000
1,757,000
1,728,482
28,518
Supervisor of Elections capital outlay
35,000
-
572
(572)
Public services operations personal services
1,969,500
1,829,202
1,805,104
24,098
Public services operations operating
102,300
167,172
140,312
26,860
Public services operations operating
2,600
2,600
-
2,600
Real property management personal services
748,800
748,800
743,082
5,718
Real property management operating
104,800
104,300
57,203
47,097
Total general government
101,107,505
103,024,200
96,181,825
6,842,375
Public safety
Sheriff personal services
170,091,200
176,398,199
169,350,570
7,047,629
Sheriff operating
39,110,600
39,200,600
38,819,664
380,936
Sheriff capital outlay
5,183,600
5,183,600
8,866,348
(3,682,748)
Emergency management administration personal services
1,218,700
1,218,700
1,181,559
37,141
Emergency management administration operating
890,900
910,824
779,807
131,017
Emergency management administration capital outlay
-
30,375
25,080
5,295
Helicopter operations operating
45,600
45,600
44,770
830
Medical examiner services operating
1,902,600
1,906,600
1,905,973
627
Total public safety
218,443,200
224,894,498
220,973,771
3,920,727
Physical environment
Conservation and resource management personal services
690,600
690,600
684,542
6,058
Conservation and resource management operating
129,300
159,840
109,133
50,707
Immokalee cemetery operating
29,000
60,036
22,435
37,601
Total physical environment
848,900
910,476
816,110
94,366
Transportation
Alternative transportation modes personal services
188,700
378,198
364,658
13,540
Alternative transportation modes operating
22,700
22,700
19,711
2,989
Total transportation
211,400
400,898
384,369
16,529
Economic environment
Veterans services personal services
315,800
296,800
296,089
711
Veterans services operating
60,100
51,060
47,045
4,015
Economic development personal services
253,900
273,926
203,956
69,970
Economic development operating
1,108,800
2,134,302
644,458
1,489,844
Total economic environment
1,738,600
2,756,088
1,191,548
1,564,540
Human services
Health Care Responsibility Act operating
46,200
46,200
-
46,200
Domestic animal services personal services
2,424,400
2,314,400
2,314,022
378
Domestic animal services operating
1,095,100
1,444,565
1,342,867
101,698
Health department operating
1,862,500
1,862,500
1,845,018
17,482
Mental health operating
3,059,500
3,010,500
1,905,377
1,105,123
Client assistance personal services
1,221,500
1,236,000
1,170,378
65,622
Client assistance operating
3,792,000
3,794,402
3,495,009
299,393
(continued)
25
COLLIER COUNTY, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
For the Fiscal Year Ended September 30, 2022
Public services division office personal services
Public services division office operating
Total human services
Culture and recreation
Library administration personal services
Library administration operating
Parks operations personal services
Parks operations operating
Parks operations capital outlay
Parks maintenance personal service
Parks maintenance operating
Total culture and recreation
Debt service
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balance
Fund balance at beginning of year
Fund balance at end of year
Original Final
Budget Budget Actual Variance
345,600 326,400 322,461 3,939
32,500 32,500 20,805 11,695
13, 879,300 14, 067,467 12,415,937 1,651, 530
5,814,300 5,488,300 5,422,209 66,091
2,178,700 2,188,331 2,055,910 132,421
4,397,200 4,574,000 4,531,989 42,011
4,436,200 5,002,881 3,906,802 1,096,079
- 30,974 30,974 -
1,791,800
2,228,800
2,226,990
1,810
2,646,900
3,290,286
3,046,807
243,479
21,265,100
22,803,572
21,221,681
1,581,891
534,600
534,600
532,992
1,608
358,028,605
369,391,799
353,718,233
15,673,566
100,556,155
91,092,169
130,558,362
39,466,193
-
-
273,585
273,585
30,000
30,000
3,777,123
3,747,123
-
-
33,433
33,433
9,907,245
11,087,845
23,587,831
12,499,986
(119,922,600)
(121,491,111)
(119,349,363)
2,141,748
(109,985,355)
(110,373,266)
(91,677,391)
18,695,875
(9,429,200) (19,281,097) 38,880,971 58,162,068
98,771,500 102,203,636 132,761,951 30,558,315
$ 89,342,300 $ 82,922,539 $ 171,642,922 $ 88,720,383
Reconciliation:
Net change in fund balance, budgetary basis
Net change in fair value of investments
Miscellaneous revenue related to indirect cost
Change in inventory
General government expenditures related to indirect cost
Property Appraiser general government refunds to other governments not budgeted
Public safety expenditures for multi -period projects not budgeted
Public safety capital outlay funded by outside sources not budgeted
Insurance proceeds related to Sheriff assets not budgeted
Proceeds from sale of Sheriff assets not budgeted
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Net change in fund balance, GAAP basis
The notes to the financial statements are an integral part of this statement.
$ 38,880,971
(9,659,918)
(8,476,800)
121,277
8,476,800
(1,218,507)
(6,849,039)
(682,158)
170,109
512,049
449,000
(449,000)
(236,800)
$ 21,037,984
26
COLLIER COUNTY, FLORIDA
BAYSHORE GATEWAY COMMUNITY REDEVELOPMENT AGENCY
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
For the Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Charges for services
Interest earnings
Total revenues
Expenditures:
Economic environment
Personal services
Operating
Capital outlay
Total expenditures
Excess (deficit) of revenues over (under) expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Net change in fair value of investments
Interfund transfers in
Interfund transfers out
Net change in fund balance, GAAP basis
The notes to the financial statements are an integral part of this statement.
Original
Final
Budget
Budget
Actual
Variance
$ 2,683,300 $
2,683,300 $
2,683,300 $
-
-
30,000
30,000
44,600
44,600
55,176
10,576
2,727,900
2,727,900
2,768,476
40,576
453,800 453,800 407,802 45,998
798,100 3,132,547 656,021 2,476,526
1,485,500 7,198,485 27,921 7,170,564
2,737,400 10,784,832 1,091,744 9,693,088
(9,500) (8,056,932) 1,676,732 9,733,664
2,482,600
3,548,500
1,928,000
(1,620,500)
(1,770,900)
(2,836,800)
(1,770,900)
1,065,900
711,700
711,700
157,100
(554,600)
702,200
(7,345,232)
1,833,832
9,179,064
(600,000) 7,347,432 10,037,806 2,690,374
$ 102,200 $ 2,200 $ 11,871,638 $ 11,869,438
$ 1,833,832
(417,078)
(1,717,100)
1,717,100
$ 1,416,754
27
COLLIER COUNTY, FLORIDA
IMMOKALEE COMMUNITY REDEVELOPMENT AGENCY
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
For the Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Charges for services
Interest earnings
Total revenues
Expenditures:
Economic environment
Personal services
Operating
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues over (under) expenditures
Other financing sources (uses):
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Net change in fair value of investments
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Net change in fund balance, GAAP basis
The notes to the financial statements are an integral part of this statement.
Original Final
Budget Budget Actual Variance
$ 1,007,000 $ 1,007,000 $ 1,007,000 $
- 250,000 67,636 (182,364)
12,600 12,600 12,805 205
1,019,600 1,269,600 1,087,441 (182,159)
195,200
214,300
213,180 1,120
372,200
1,001,298
197,790 803,508
36,300
36,300
36,221 79
158,600
1,606,600
- 1,606,600
762,300 2,858,498 447,191 2,411,307
257,300 (1,588,898) 640,250 2,229,148
190,400
554,700
190,400
(364,300)
(315,500)
(679,800)
(314,401)
365,399
(125,100)
(125,100)
(124,001)
1,099
132,200
(1,713,998)
516,249
2,230,247
(101,300)
1,714,598
1,287,327
(427,271)
$ 30,900 $
600 $
1,803,576 $
1,802,976
$ 516,249
(96,952)
(97,600)
97,600
88,901
$ 508,198
28
COLLIER COUNTY, FLORIDA
GRANTS AND SHARED REVENUE
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
For the Fiscal Year Ended September 30, 2022
Revenues:
Intergovernmental
Charges for services
Interest earnings
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Capital outlay
Total expenditures
Deficit of revenues over (under) expenditures
Other financing sources (uses):
Sale of capital assets
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Net change in fair value of investments
Unbudgeted funds
Net change in fund balance, GAAP basis
The notes to the financial statements are an integral part of this statement.
Original
Final
Budget
Budget
Actual
Variance
$ 3,000 $
162,762,436 $
43,492,116 $
(119,270,320)
-
4,525,879
297,273
(4,228,606)
34,600
41,481
417,028
375,547
-
390,181
90,051
(300,130)
37,600
167,719,977
44,296,468
(123,423,509)
8,900
2,458,724
693,501
1,765,223
698,200
815,696
117,496
698,200
323,100
3,642,212
803,625
2,838,587
-
582,241
182,240
400,001
-
115,077,020
36,388,026
78,688,994
790,100
12,334,653
4,980,207
7,354,446
100
4,587,440
760,968
3,826,472
23,600
56,106,143
3,564,795
52,541,348
1,844,000 195,604,129 47,490,858 148,113,271
(1,806,400) (27,884,152) (3,194,390) 24,689,762
-
4
109
105
1,134,000
21,517,739
2,307,139
(19,210,600)
(114,600)
(162,700)
(19,600)
143,100
1,019,400
21,355,043
2,287,648
(19,067,395)
(787,000)
(6,529,109)
(906,742)
5,622,367
964,100
8,804,602
11,336,040
2,531,438
$ 777,100 $
2,275,493 $
10,429,298 $
8,153,805
$ (906,742)
(3,044,561)
388,979
$ (3,562,3241
29
COLLIER COUNTY, FLORIDA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
September 30, 2022
Business -type Activities Enterprise Funds
overnmental
Emergency
Activities -
County Water Solid Waste
Medical
Other
Internal
and Sewer
Disposal
Services
unds
otal Service Funds
ASSETS
Current assets:
Cash and investments
$ 204,922,011 $
38,332,364 $
21,344,223 $
9,877,774
$ 274,476,372 $
84,863,421
Receivables:
Trade, net
16,559,357
1,181,866
4,534,963
18,474
22,294,660
1,204,936
Special assessments
7,835
-
-
-
87,835
-
Interest
490,253
170,967
27,332
13,668
702,220
110,358
Leases
4,504
-
-
103,440
127,944
-
Due from other funds
36
176,790
-
28,497
205,723
-
Due from other governments
133,263
1,165,234
1,082,683
1,952
5,383,132
97,584
Deposits
694,097
-
-
-
1,694,097
-
Inventory
7,311,164
1,031,294
185,593
8,528,051
634,723
Prepaid costs
29,121
-
-
129,121
2,153,966
Restricted assets:
Cash and investments
2,164,001
85,542
208,476
712,309
13,170,328
-
Interest receivable
25,057
-
252
-
25,309
Due from other governments
-
-
4,172,976
4,172,976
-
Total current assets
46,541,099
41,112,763
28,229,223
15,114,683
330,997,768
89,064,988
Noncurrent assets:
Restricted assets:
Cash and investments
03,242,761
-
-
-
203,242,761
-
Receivables:
Leases
59,617
-
1,783,953
2,543,570
Capital assets:
Land and nondepreciable capital assets
46,755,036
22,747,852
8,622,799
178,125,687
-
Depreciable capital assets, net
791,292,388
26,412,380
12,416,820
68,264,276
898,385,864
19,650,710
Total noncurrent assets
142,049,802
49,160,232
12,416,820
78,671,028
1,282,297,882
19,650,710
Total assets
388,590,901
90,272,995
40,646,043
93,785,711
1,613,295,650
108,715,698
DEFERRED OUTFLOWS OF RESOURCES
Deferred charges on debt refundings
158,123
-
-
-
2,158,123
-
Deferred outflows of resources related to OPEB
80,409
6,227
42,831
3,000
132,467
17,815
Deferred outflows of resources related to pensions
7,685,132
705,510
9,907,341
328,068
18,626,051
1,602,716
Total deferred outflows of resources
$ 9,923,664 $
711,737 $
9,950,172 $
331,068
$ 20,916,641 $
1,620,531
(Continued)
30
COLLIER COUNTY, FLORIDA
STATEMENT OF NET POSITION
PROPRIETARY FUNDS
September 30, 2022
Business -type Activities Enterprise Funds
overnmental
Activities -
County
Emergency
Internal
Water
Solid Waste
Medical
Other
Service
and Sewer
Disposal
Services
unds
otal
Funds
LIABILITIES
Current liabilities:
Accounts payable
$ 9,082,105 $
2,897,721 $
733,990 $
953,827 $
13,667,643
$ 1,767,435
Wages payable
1,934,717
192,168
1,511,454
92,107
3,730,446
421,314
Retainage payable
1,814,897
140,681
-
-
1,955,578
-
Due to other funds
128
-
34,080
-
42,208
-
Due to other governments
7
1,901
760
12,705
15,443
39,277
Unearned revenues
7,163
-
-
15,583
62,746
147,410
Self-insurance claims payable
-
-
-
-
-
9,472,974
Compensated absences
202,841
187,724
767,238
116,030
3,273,833
461,307
Net pension liability
7,894
797
3,783
410
12,884
1,464
Landfill post -closure liability
-
39,413
-
-
39,413
-
Lease payable
68,256
-
29,447
97,703
3,284
Bonds, loans and notes payable
10,233,000
-
-
10,233,000
-
Liabilities payable from restricted assets:
Accounts payable
3,098,180
434,779
3,532,959
Retainage payable
2,428,467
26,868
2,455,335
Due to other governments
117,960
117,960
Refundable deposits
88,166
-
9,926
198,092
Unearned revenue
-
85,542
-
85,542
Interest payable
2,968,340
-
2,968,340
Bonds, loans and notes payable
3,480,848
-
3,480,848
-
Total current liabilities
7,563,079
3,545,947
3,080,752
1,780,195
45,969,973
12,314,465
Noncurrent liabilities:
Self-insurance claims payable
-
-
-
-
-
2,410,072
Advance from other funds
-
-
1,600,425
1,600,425
-
Compensated absences
50,710
46,931
191,809
29,008
818,458
115,326
Lease payable
156,574
-
353,107
-
509,681
3,615
Total OPEB liability
1,470,029
148,383
686,704
75,917
2,381,033
276,062
Net pension liability
28,859,128
2,688,961
33,728,113
1,271,645
66,547,847
5,919,816
Landfill post closure liability
-
1,348,017
-
-
1,348,017
-
Bonds, loans and notes payable
347,278,593
-
-
-
347,278,593
-
Total noncurrent liabilities
78,315,034
4,232,292
34,959,733
2,976,995
420,484,054
8,724,891
Total liabilities
15,878,113
7,778,239
38,040,485
4,757,190
466,454,027
21,039,356
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
722,440
-
-
1,857,627
2,580,067
-
Deferred inflows of resources related to OPEB
378,028
36,909
183,208
18,708
616,853
73,349
Deferred inflows of resources related to
pensions
508,949
150,508
894,526
76,414
2,630,397
284,855
Total deferred inflows of resources
2,609,417
187,417
1,077,734
1,952,749
5,827,317
358,204
NET POSITION
Net investment in capital assets
33,852,593
48,451,347
12,034,266
76,628,093
870,966,299
19,608,443
Restricted for grants and other purposes
-
208,728
4,409,145
4,617,873
-
Restricted for growth related capital expansion
21,172,753
-
-
21,172,753
Restricted for renewal and replacement
300,000
300,000
Restricted for debt service
22,420,366
-
-
22,420,366
-
Unrestricted
202,281,323
34,567,729
(764,998)
6,369,602
242,453,656
69,330,226
Total net position $
980,027,035 $
83,019,076 $
11,477,996 $
87,406,840
1,161,930,947 $
88,938,669
Cumulative consolidation adjustment for internal service fund activities related to enterprise funds 2,273,336)
Net position of Business -type Activities $ 1,159,657,611
The notes to the financial statements are an integral part of this statement.
31
COLLIER COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION
PROPRIETARY FUNDS
For the Fiscal Year Ended September 30, 2022
Business -type Activities Enterprise Funds
Governmental
Emergency
Activities -
County Water
Solid Waste
Medical
Other
Internal
and Sewer
Disposal
Services
Funds
Total
Service Funds
Operating revenues:
Charges for services
$ 176,896,115
$ 59,859,405
$ 18,445,230 $
10,672,446 $
265,873,196
$ 121,866,892
Miscellaneous
363,737
480,775
55,433
170,242
1,070,187
1,107,210
Total operating revenues
177,259,852
60,340,180
18,500,663
10,842,688
266,943,383
122,974,102
Operating expenses:
Personal services
40,611,552
3,866,180
32,617,400
1,921,479
79,016,611
8,156,111
General and administrative
72,780,092
45,512,724
6,248,383
18,995,670
143,536,869
29,200,835
Insurance claims paid
-
-
-
-
-
76,163,532
Depreciation and amortization
50,869,321
1,691,364
2,632,783
4,541,796
59,735,264
3,743,467
Total operating expenses
164,260,965
51,070,268
41,498,566
25,458,945
282,288,744
117,263,945
Operating income (loss)
12,998,887
9,269,912
(22,997,903)
(14,616,257)
(15,345,361)
5,710,157
Non -operating revenues (expenses):
Operating grants and contributions
-
106,431
1,701,537
6,354,112
8,162,080
-
Interest earnings
(19,468,888)
(1,993,400)
(1,009,393)
(433,010)
(22,904,691)
(4,086,282)
Insurance reimbursement
152,956
4,797
3,105
160,858
616,023
Interest expense
(10,407,203)
(7,561)
(12,632)
(10,427,396)
(129)
Loss on disposal of capital assets
(1,528,944)
(3,966)
(59,360)
(998,558)
(2,590,828)
(270,501)
Total non -operating revenues (expenses) (31,252,079) (1,890,935) 630,020 4,913,017 (27,599,977) (3,740,889)
Income (loss) before contributions
and transfers
(18,253,192)
7,378,977
(22,367,883)
(9,703,240)
(42,945,338)
1,969,268
Capital grants and contributions
38,490,241
-
-
9,971,198
48,461,439
7,519
Transfers in
21,436
496,500
21,369,500
5,951,764
27,839,200
741,200
Transfers out
(11,714,207)
(601,316)
(7,800)
(135,900)
(12,459,223)
(490,200)
Total transfers and contributions
26,797,470
(104,816)
21,361,700
15,787,062
63,841,416
258,519
Change in net position
8,544,278
7,274,161
(1,006,183)
6,083,822
20,896,078
2,227,787
Net position - beginning
971,482,757
75,744,915
12,484,179
81,323,018
86,710,882
Net position - ending $
980,027, 335 $
83,019,076 $
11,477,996 $
87,406,840
$
88,938,669
Consolidation adjustment for internal service fund
activities related to enterprise funds
438,049
Change in net position of Business -type Activities
$
21,334,127
The notes to the financial statements are an integral part of this statement.
32
COLLIER COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
For the Fiscal Year Ended September 30, 2022
Business -type Activities Enterprise Funds
Governmental
Emergency
Activities -
County Water
Solid Waste
Medical
Other
Internal
and Sewer
Disposal
Services
Funds
Total
Service Funds
Cash flows from operating activities:
Cash received for services
$ 175,005,624
$ 60,154,050 $
16,981,816 $
10,919,046
$ 263,060,536
$ -
Cash received from other funds for services
-
-
-
-
-
114,233,313
Cash received from other governments for services
413,289
Cash received from employees for services
-
-
-
7,484,925
Cash received from refundable deposits
158,600
516,389
674,989
-
Cash received from retirees for services
-
-
-
2,212,078
Cash payments on behalf of retirees
(1,489,636)
Cash payments for goods and services
(60,972,852)
(43,575,673)
(1,815,491)
(15,486,590)
(121,850,606)
(27,235,560)
Cash payments for self insurance claims
(73,850,143)
Cash payments to employees
(39,567,862)
(3,773,731)
(29,042,269)
(1,775,307)
(74,159,169)
(8,400,557)
Cash payments for interfund services
(14,122,704)
(2,138,192)
(4,298,639)
(4,155,038)
(24,714,573)
(1,728,706)
Cash payments from refundable deposits
(103,200)
(529,018)
(632,218)
-
Net cash provided by (used for)
operating activities
60,397,606
10,653,825
(18,174,583)
(10,497,889)
42,378,959
11,639,003
Cash flows from non -capital financing activities:
Cash received from operating grants
229,942
106,431
644,860
6,411,385
7,392,618
-
Cash transfers from other funds
21,425
9,324,000
21,369,500
5,291,325
36,006,250
741,200
Cash transfers to other funds
(11,765,387)
(9,428,816)
(7,800)
-
(21,202,003)
(490,200)
Net cash provided by (used for)
non -capital financing activities
(11,514,020)
1,615
22,006,560
11,702,710
22,196,865
251,000
Cash flows from capital and related financing
activities:
System development charges
19,814,421
-
-
-
19,814,421
-
Special assessment collections
55,374
-
-
55,374
-
Receipts from insurance reimbursements
126,332
-
4,797
3,105
134,234
604,434
Proceeds from disposal of capital assets
156,556
411
48,379
3,243
208,589
116,786
Proceeds from capital grants
-
-
-
12,521,668
12,521,668
-
Proceeds from leasing activities
20,156
204,937
225,093
Payments for capital acquisitions
(45,783,918)
(4,540,879)
(1,892,319)
(11,455,468)
(63,672,584)
(3,428,176)
Payments for construction escrow
(1,684,089)
(1,684,089)
Principal payments on loans and notes
(16,907,000)
(16,907,000)
Principal payments on leases and financed
purchase obligations
(66,560)
(28,889)
(95,449)
(3,233)
Interest and fiscal agent fees paid
(11,871,728)
(7,561)
-
(11,879,289)
(129)
Net cash provided by (used for) capital and
related financing activities
(56,140,456)
(4,540,468)
(1,875,593)
1,277,485
(61,279,032)
(2,710,318)
Cash flows from investing activities:
Interest on investments
(19,566,685)
(2,005,807)
(1,011,242)
(437,600)
(23,021,334)
(4,086,801)
Net cash used for investing activities
(19,566,685)
(2,005,807)
(1,011,242)
(437,600)
(23,021,334)
(4,086,801)
Net increase (decrease) in cash and investments
(26,823,555)
4,109,165
945,142
2,044,706
(19,724,542)
5,092,884
Cash and investments, October 1, 2021
447,152,328
34,308,741
20,607,557
8,545,377
510,614,003
79,770,537
Cash and investments, September 30, 2022
$ 420,328,773 $
38, 117,906 $
21, 552,699 $
10, 990,083
$ 490, 889,461 $
84, 663,421
Current cash and investments
$ 204,922,011 $
38,332,364 $
21,344,223 $
9,877,774
$ 274,476,372 $
84,863,421
Current cash and investments -restricted
12,164,001
85,542
208,476
712,309
13,170,328
-
Noncurrent cash and investments -restricted
203,242,761
-
-
-
203,242,761
-
Cash and investments, September 30, 2022
$ 420,328,773 $
38,417,906 $
21,552,699 $
10,590,083
$ 490,889,461 $
84,863,421
(Continued)
33
COLLIER COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
For the Fiscal Year Ended September 30, 2022
Business -type Activities Enterprise Funds Governmental
Emergency Activities -
County Water Solid Waste Medical Other Internal
and Sewer Disposal Services Funds Total Service Funds
Operating income (loss) $ 12,998,887 $ 9,269,912 $ (22,997,903) $ (14,616,257) $ (15,345,361) $ 5,710,157
Adjustments to reconcile operating income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization expense
Net changes in assets and liabilities:
Trade receivable
Due from other funds
Due from other governments
Inventory
Prepaid costs
Accounts payable
Retainage payable
Wages payable
Due to other funds
Due to other governments
Compensated absences
Refundable deposits
Unearned revenue
Self-insurance claims payable
Total OPEB liability
Deferred outflows of resources related to
OPEB
Deferred inflows of resources related to OPEB
Net pension liability
Deferred outflows of resources related to
pensions
Deferred inflows of resources related to
pensions
Deferred inflows of resources related to
leases
Landfill post closure liability
Total adjustments
Net cash provided by (used for) operating
activities
Non -cash investing, capital and financing
activities:
Change in fair value of investments
Developer infrastructure contributions
Contributed capital assets
Change in capital related grant receivable
Change in special assessment receivable
Capital related accounts payable
Capital related retainage
50,869,321 1,691,364 2,632,783 4,541,796 59,735,264 3,743,467
(2,307,490)
(135,543)
(2,238,747)
81,284
(4,600,496)
(455,856)
-
56,183
-
-
56,183
1,216,483
62,309
131,193
716,686
910,188
(79,014)
(1,013,898)
-
63,846
(99,902)
(1,049,954)
(169,438)
(51,442)
-
(51,442)
862,071
(868,201)
(201,141)
75,075
(331,643)
(1,325,910)
138,881
(323,146)
-
-
-
(323,146)
-
316,038
39,154
397,691
21,851
774,734
53,052
(141)
-
30,914
-
30,773
(60,000)
(31,601)
1,479
(1,454)
1,308
(30,268)
14,193
320,675
8,475
550,803
31,656
911,609
(23,254)
55,400
-
-
-
55,400
-
-
(12,629)
(6,234)
(18,863)
23,868
938,637
(250,656)
(18,520)
(183,573)
(7,534)
(460,283)
(57,743)
49,266
4,973
23,014
2,545
79,798
9,253
227,582
22,972
106,312
11,753
368,619
42,738
15,557,587
1,405,878
24,327,160
702,739
41,993,364
3,186,694
(1,520,250)
(131,727)
(3,052,571)
(72,219)
(4,776,767)
(221,910)
(13,656,552)
(1,238,756)
(18,624,619)
(544,619)
(34,064,546)
(3,233,276)
(36,082)
(214,413)
(250,495)
-
(239,442)
-
-
(239,442)
-
47,398,719
1,383,913
4,823,320
4,118,368
57,724,320
5,928,846
$ 60,397,606 $ 10,653,825 $ (18,174,583) $ (10,497,889) $ 42,378,959 $ 11,639,003
$ (22,447,633) $ (2,292,829) $ (1,164,158) $ (533,933) $ (26,438,553) $ (3,702,265)
18,426,432 - 18,426,432 -
242,576 21,972 264,548 7,519
- (2,472,442) (2,472,442) -
(48,562) - (48,562) -
6,230,918 568,204 229,263 7,028,385 35,368
3,997,302 140,681 26,868 4,164,851 -
The notes to the financial statements are an integral part of this statement.
34
COLLIER COUNTY, FLORIDA
STATEMENT OF FIDUCIARY NET POSITION
FIDUCIARY FUNDS
September 30, 2022
Sheriff
Private Purpose ustodial
Trust Fund Funds
ASSETS
Cash and investments $ 311,196 $ 26,264,420
Trade receivable, net - 16,426
Total assets $ 311,196 $ 26,280,846
LIABILITIES
Due to other governments
Due to individuals
Total liabilities
7,368,640
219,411
$ 7,588,051
FIDUCIARY NET POSITION
Restricted for individuals and governments $ 311,196 $ 18,692,795
The notes to the financial statements are an integral part of this statement.
35
COLLIER COUNTY, FLORIDA
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
FIDUCUARY FUNDS
For the Fiscal Year Ended September 30, 2022
Sheriff
Private Purpose Custodial
Trust Fund Funds
ADDITIONS:
Contributions for individuals $ 519,409 $ 29,427,234
Fees collected for other governments - 324,316,499
Miscellaneous 78,664
Total additions
DEDUCTIONS:
Beneficiary payments to individuals
Payment of fees to other governments
Payments to other entities
Total deductions
Net increase (decrease) in fiduciary net position
Fiduciary net position - beginning of year
Fiduciary net position - end of year
519,409 353,822,397
478,439 36,994,745
- 324,220,476
243,640
478,439 361,458,861
40,970 (7,636,464)
270,226 26,329,259
$ 311,196 $ 18,692,795
The notes to the financial statements are an integral part of this statement.
36
NOTE 1 —SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of Collier County, Florida (County) have been prepared in accordance with accounting principles generally
accepted in the United States of America for governmental entities (GAAP). The more significant of the County's accounting
policies are described below.
THE REPORTING ENTITY
Entity status for financial reporting purposes is governed by Governmental Accounting Standards Board (GASB) Statement No. 14,
The Financial Reporting Entity, as amended. The GASB is the standard setting body for the establishment of GAAP in governmental
entities. Determination of the financial reporting entity of the County is founded upon the objective of accountability. These
financial statements include the County government (the primary government) and two types of legally separate component units
(blended and discrete). Component units are legally separate agencies that the primary government is financially accountable
for or organizations which should be included in the reporting entity because of the nature and significance of their relationship
with the primary government.
Financial accountability is determined by the primary government's ability to appoint the voting majority of the entity's board and
impose its will on the organization or there is a potential specific financial benefit/burden relationship. Financial accountability
also exists if an organization is fiscally dependent and there is a potential specific financial benefit/burden relationship.
The primary government consists of Collier County, a political subdivision of the State of Florida that was established in 1923
by the Florida State Legislature. The County is governed by a Board of County Commissioners which consists of five members
elected within single member districts. In addition, there are five separately elected Constitutional Officers: the Tax Collector,
Property Appraiser, Sheriff, Clerk of the Circuit Court and Comptroller and Supervisor of Elections. The Constitutional Officers are
elected county wide. Under the direction of the Clerk of the Circuit Court and Comptroller, the Finance and Accounting Department
maintains the accounting system for the operations of the Board of County Commissioners, Supervisor of Elections and the
Clerk of the Circuit Court and Comptroller. The Tax Collector, Property Appraiser and Sheriff each maintain their own accounting
systems. For financial reporting purposes, the operations of the Board of County Commissioners and the Constitutional Officers
are combined and presented as the primary government.
The County's blended component units consist of organizations whose respective governing Boards are composed entirely of
the Board of County Commissioners serving ex-officio. These entities are legally separate, however the County has the financial
and operational responsibility for these component units. In accordance with GASB Statement No. 14, as amended, these
organizations are reported as if they were part of the County's operations.
Collier County Water and Sewer District (Districtl - The District was established by Chapter 88-499, Laws of Florida, as amended
by Chapter 03-353, to provide water, sewer and effluent services to portions of the unincorporated area of Collier County.
Collier County Community Redevelopment Agency (CRA)_ The CRA was established by Resolution 2000-82 to benefit blighted
areas in both the Immokalee Redevelopment and Bayshore/Gateway Triangle Redevelopment Areas. These two redevelopment
areas are geographically separate and distinct.
Collier County Airport Authority - The Board of County Commissioners was established as the governing body of the Airport
Authority by Ordinance 2010-10. The Airport Authority is responsible for construction, improvement, equipment, development,
regulation, operation and maintenance of the Marco Island, Immokalee and Everglades Airports and all related airport facilities.
Collier County Metropolitan Planning Organization (MPO) - The MPO was created in 1981 by Collier County Resolution 81-222
pursuant to Section 334.215, Florida Statutes, as amended by Section 339.175, Florida Statutes. The purpose of the MPO is
to provide planning for all modes of travel in order to benefit the citizens of Collier County. The MPO is reported as part of the
Grants and Shared Revenues fund.
The County's discretely presented component units consist of organizations whose board members are appointed by the Board
of County Commissioners. The County is able to impose its will on these entities because of its ability to remove appointed
members from the component units' Boards. The Authorities maintain their own financial records, but do not issue separate
financial statements. GASB Statement No. 14, as amended, requires that the financial data of the following organizations be
reported in separate columns to emphasize that they are legally separate from the County.
Collier County Housing Finance Authority - The Authority was formed in 1980 by Collier County Ordinance 80-66 for the purpose
of stimulating the construction of residential housing for low and moderate income families through the use of public financing.
Their financial position and results of operations are reported in the accompanying financial statements and the outstanding
conduit debt issued by the Authority is disclosed in Note 8, "Conduit Debt Obligations".
Collier County Health Facilities Authority -The Authority was established in 1979 by Collier County Ordinance 79-95 for the purpose
of assisting health facilities in the acquisition, construction and financing of projects within the County. Their financial position
and results of operations are reported in the accompanying financial statements and the outstanding conduit debt issued by the
Authority is disclosed in Note 8, "Conduit Debt Obligations".
37
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Collier County Industrial Development Authority - The Authority was created in 1978 by Collier County Resolution 78-94, rescinded
and replaced by Resolution 79-34, to facilitate the financing of projects that promote economic growth and increase opportunities
for employment in the County. Their financial position and results of operations are reported in the accompanying financial
statements and the outstanding conduit debt issued by the Authority is disclosed in Note 8, "Conduit Debt Obligations".
Collier County Educational Facilities Authority - The Authority was created in 1999 by Collier County Resolution 99-17 to assist
institutions for higher education in the construction, financing and refinancing of projects. Their financial position and results of
operations are reported in the accompanying financial statements and the outstanding conduit debt issued by the Authority is
disclosed in Note 8, "Conduit Debt Obligations".
Financial information on the individual component units can be obtained from their respective administrative offices or from the
Finance and Accounting Department of the Clerk of the Circuit Court and Comptroller.
Administrative Offices
Collier Water and Sewer District Collier County Airport Authority
3339 East Tamiami Trail, Suite #302 2005 Mainsail Drive, Suite #1
Naples, Florida 34112 Naples, Florida 34114
Collier County Metropolitan Planning Organization Immokalee Community Redevelopment Agency
2885 South Horseshoe Drive 750 South 5th Street
Naples, Florida 34104 Immokalee, Florida 34142
Bayshore Gateway Community Redevelopment Agency Collier County Health Facilities Authority
3299 Tamiami Trail East, Bldg. F Suite #103 Collier County Housing Finance Authority
Naples, Florida 34112 Collier County Industrial Development Authority
Collier County Educational Facilities Authority
725 High Pines Drive
Naples, Florida 34103
GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS
The basic financial statements are made up of the government -wide financial statements and fund financial statements. Both
of these sets of financial statements distinguish between the governmental and business -type activities of Collier County. The
government -wide financial statements consist of a Statement of Net Position and a Statement of Activities. These statements
report on the financial condition of Collier County, at the reporting entity level. Internal balances represent net amounts due
between the governmental and business -type activities. As a general rule, the effect of interfund activity has been eliminated from
the government -wide financial statements with the exception of interfund services provided and used. The internal service activity
has also been eliminated from the government -wide financial statements. Aggregate internal service fund activity is reported
in full as a single column in the proprietary fund financial statements. Fiduciary funds are not included in these presentations
as their assets do not represent amounts that are available for Collier County government operations. The Statement of Net
Position reports all financial and capital resources of Collier County's governmental and business -type activities. Net position
equals assets plus deferred outflows of resources minus liabilities plus deferred inflows of resources, and is shown in three
categories: net investment in capital assets; restricted net position and unrestricted net position. The Statement of Activities
reports results of operations on a functional activity (program) basis and demonstrates to what degree the particular program
has been self-supporting.
Direct expenses are those that are specifically associated with a service, program or department and, thus are clearly identifiable to
a particular function. The effect of indirect expense allocations has been eliminated in the government -wide financial statements.
Depreciation expense for capital assets that can specifically be identified with a function is recorded as a direct expense of that
function. Depreciation for capital assets that serve all functions is recorded as a direct expense of the general government
function on the government -wide Statement of Activities. All interest on general long term debt is considered indirect and is
reported separately in the government -wide Statement of Activities.
Program revenues are reported in the following three categories: charges for services, operating grants and contributions and
capital grants and contributions. Charges for services are amounts charged to customers for a particular service, and are netted
against the cost of the relevant program. Internal charges for indirect services are allocated across functions as direct expenses.
Grants and contributions refer to revenues restricted for capital or operational use in a particular program. The general revenue
category encompasses all other revenue types and represents revenue collected to support all functions of Collier County
government.
The fund financial statements follow the government -wide statements and report more detailed information about operations
of major funds on an individual basis and nonmajor funds on an aggregate basis for the governmental and proprietary funds.
Following the governmental fund balance sheet and statement of revenues, expenditures and changes in fund balances are
reconciliations explaining the differences between the governmental fund presentation and the government -wide presentation.
38
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
BASIS OF PRESENTATION
The following are reported as major governmental funds:
General Fund — the General Fund is the general operating fund of the County. All general tax revenues and other receipts that
are not accounted for in other funds are accounted for in the General Fund. The general operating funds of the Clerk of the
Circuit Court and Comptroller, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector are presented together
with the Board of County Commissioners' general operating fund in the County's consolidated General Fund.
Bayshore/Gateway Community Redevelopment Area Special Revenue Fund — the Bayshore/Gateway Community
Redevelopment fund is used to account for the receipt and expenditure of tax increment revenues generated by the Bayshore/
Gateway Community Redevelopment Areas.
Immokalee Community Redevelopment Area Special Revenue Fund — the Immokalee Community Redevelopment fund is used
to account for the receipt and expenditure of tax increment revenues generated by the Immokalee Community Redevelopment
Area.
Grants and Shared Revenue Special Revenue Fund — the Grants and Shared Revenue fund is used to account for the receipt
and expenditure of federal, state and local grants.
Infrastructure Sales Tax Capital Project Fund — the Infrastructure Sales Tax fund is used to account for the receipt and
expenditure of an additional one -cent sales surtax approved by the voters.
The following are reported as major enterprise funds:
County Water and Sewer Fund — the County Water and Sewer fund is used to account for the provision of water, wastewater
and effluent services to certain portions of the County's unincorporated area.
Solid Waste Disposal Fund — the Solid Waste Disposal fund is used to account for the provision of solid waste disposal
services to users throughout the County.
Emergency Medical Services Fund — the Emergency Medical Services fund is used to account for the provision of emergency
ambulance and paramedical services to users throughout the County.
Collier County also maintains the following nonmajor fund types:
Special Revenue Funds — Special revenue funds are used to account for the proceeds of specific revenue sources that are
restricted or committed to expenditure for specific purposes other than debt service or capital projects.
Permanent Fund — Permanent funds are used to account for resources that were legally restricted to the extent that only
earnings and not principal may be spent. Collier County operates a permanent fund to defray costs associated with the
maintenance and management of conservation land.
Debt Service Funds — Debt service funds are used to account for the accumulation of resources that are restricted, committed
or assigned to expenditure for principal and interest related to long-term obligations.
Capital Project Funds — Capital project funds are used to account for the accumulation of resources that are restricted,
committed or assigned to expenditure for capital outlays including the acquisition or construction of capital facilities and
other capital assets.
Enterprise Funds — Enterprise funds are used to account for activities for which a fee is charged to external users for goods
or services.
Internal Service Funds — Internal service funds are used to account for the provision of goods and services by one department
to other departments within the County or to other governmental units on a cost reimbursement basis. Collier County currently
reports the following Internal Service Funds: Self -Insurance, Sheriff's Self -Insurance, Fleet Management, Motor Pool Capital
Recovery and Information Technology.
Fiduciary Funds - Private Purpose Trust Funds — Fiduciary funds - private purpose trust funds are used to account for assets
held by Collier County in which the principal and income benefit individuals, private organizations or other governments.
Private purpose trust funds are accounted for using the accrual basis of accounting. The Sheriff maintains this fund for the
employee flexible spending account.
Fiduciary Funds - Custodial Funds — Fiduciary funds - custodial funds are used to account for assets held by Collier County
as an agent for individuals, private organizations and other governments. Custodial funds are custodial in nature. Custodial
funds are accounted for using the accrual basis of accounting. The Sheriff, Clerk of the Circuit Court and Comptroller and
Tax Collector all maintain custodial funds.
39
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
MEASUREMENT FOCUS AND BASIS OF ACCOUNTING
Measurement focus indicates the type of resources being measured such as current financial resources (current assets less
current liabilities) or economic resources (all assets and liabilities). Basis of accounting refers to when revenues and expenditures
or expenses are recognized in the accounts and reported in the financial statements. The basis of accounting relates to the
timing of the measurements made regardless of the measurement focus applied.
The government -wide and proprietary fund financial statements are reported using the economic resources measurement focus
and the accrual basis of accounting. With this measurement focus, all assets and liabilities associated with the operation of
these funds are included on the Statement of Net Position and the operating statements present increases (i.e., revenues) and
decreases (i.e., expenses) in net position. Under the accrual basis of accounting, revenues are recognized in the period in which
they are earned and measurable, and expenses are recognized in the period incurred. Grant and similar revenues are recognized
when eligibility requirements are met. Proprietary funds distinguish operating revenues and expenses from non -operating items.
Operating revenues and expenses generally result from providing services and producing and delivering goods in connection
with a proprietary fund's principal ongoing operations. Operating expenses for proprietary funds include the cost of sales and
services, administrative expenses and depreciation on capital assets. All revenues and expenses not meeting this definition are
reported as non -operating revenues and expenses.
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified
accrual basis of accounting. With this measurement focus, only current assets and current liabilities generally are included
on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and
decreases (i.e., expenditures and other financing uses) in fund balance. Under the modified accrual basis of accounting, revenues
are recognized when they become measurable and available to finance expenditures of the fiscal period. Generally, revenues are
considered available when they are collected within the current period or within 60 days after the end of the fiscal year. Grant
revenues are an exception and are considered available when eligibility requirements are met. Primary revenues which have
been treated as susceptible to accrual include, where material, charges for services, interest earnings and certain taxes and
intergovernmental revenues. Property taxes are discussed later in Note 1. Expenditures are recorded when the related fund
liability is incurred. Exceptions to this general rule include accrued compensated absences, pension, other postemployment
benefits and principal and interest on long-term debt.
When both restricted and unrestricted resources are available, restricted resources will be used first for incurred expenses, and
then unrestricted as needed. When using the unrestricted resources, committed amounts would be reduced first, followed by
assigned amounts, and then unassigned amounts when expenditures are incurred for purposes for which amounts in any of
those unrestricted fund balance classifications could be used.
BUDGETS AND BUDGETARY DATA
The following are the statutory procedures followed by the Board of County Commissioners in establishing the budgets for the
County:
1. Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County budget officer
prepares and presents to the Board a tentative budget for the ensuing fiscal year. The budget includes all estimated
receipts and all estimated expenditures, reserves and balances to be carried forward at the end of the year as specified
in Section 129.03, Florida Statutes.
2. Within eighty days of the certification of value, but not earlierthan sixty-five days after certification, the Board holds a public
hearing on the tentative budget and proposed millage rate. At this hearing the Board amends and adopts the tentative
budget, recomputes the proposed millage rate, and announces publicly the percentage, if any, by which the recomputed
proposed millage rate exceeds the rolled -back rate. If the millage rate tentatively adopted exceeds that proposed, each
taxpayer within the jurisdiction is notified of the increase by first class mail, at the expense of the Board.
3. Within fifteen days of the meeting adopting the tentative budget, the Board advertises the County's intent to adopt a final
budget and millage rate.
4. A public hearing is held by the Board to finalize the budget and adopt a millage rate. This hearing is held not less than
two days and not more than five days after the day that the advertisement is first published. Prior to September 30, the
millage levy is adopted by a separate vote. The millage rate adopted is not allowed to exceed the tentatively adopted
millage rate, except as allowed for by emergency provision with strict public notice requirements. This is followed by the
approval and ratification of the final budget.
5. The resolution approved at the final hearing is forwarded to the Property Appraiser, Tax Collector and Florida Department
of Revenue, not later than thirty days following the adoption of the Resolution, the Board certifies to the State of Florida,
Department of Revenue, Division of Ad Valorem Tax, that it has complied with the provisions of Chapter 200, Florida
Statutes.
40
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
6. The County Manager approves intradepartmental budget changes within the same fund of $50,000 or less that do
not impact reserves or recognize revenue. All other budgetary changes must be approved by the Board of County
Commissioners as a matter of policy. The initial adopted budget was amended in accordance with Florida Statutes.
7. Florida State Section 129.07, as amended in 1978, provides that expenditures in excess of total fund budgets are unlawful.
However, because the Board approves all budgetary changes between departments, except those approved by the County
Manager, the departmental budget becomes the level of control.
Formal budgetary integration is employed as a management control device during the fiscal year for all funds. Budgets have
been legally adopted by the Board for all Board departments except for the custodial funds. The Property Appraiser and the Tax
Collector adopt budgets for their general funds independently of the Board. The Clerk of Courts operates as a fee officer, and as
such, prepares its non -court budget in accordance with Section 218.35, Florida Statutes.
The Sheriff and Supervisor of Elections prepare budgets for their general funds, which are submitted to and approved by the Board.
The Clerk of Court's budget for court related functions is prepared according to Section 28.36 Florida Statutes and submitted to
the Clerks of Court Operations Corporation for approval by the Legislative Budget Commission.
Budgets are adopted for all governmental departments except as described in the previous paragraph. These budgets are
adopted on a basis consistent with generally accepted accounting principles (GAAP) except for certain non -budgeted revenues
and expenditures and mark to market activity on investments. All unencumbered appropriations lapse at the end of the current
year. For further information regarding encumbrances, refer to Note 17 on page 80.
Capital project costs are budgeted in the year they are anticipated to be obligated. In subsequent years, the unused budget is
reappropriated until the project is completed. Proprietary funds are budgeted on a basis consistent with generally accepted
accounting principles, except that capital related and debt transactions are based upon cash receipts and disbursements.
Estimated beginning fund balances are considered in the budgetary process.
For purposes of the budgetary presentation, certain transactions that have been accounted for in the governmental funds
statements of revenues, expenditures and changes in fund balances have not been reflected in the budgetary financial statements.
Specifically, bad debt expense and the net change in fair value of investments are not presented in the budget to actual statements.
CASH AND INVESTMENTS
Florida Statutes Section 218.415 establishes guidelines for Florida local government investment policies. The County's current
investment policy, as amended, was adopted December 9, 2014 by Resolution 2014-260 and is consistent with the requirements
of that statute. This investment policy authorized the following investments:
1. U.S. Treasury and Government Guaranteed — U.S. Treasury obligations and obligations the principal and interest of which
are backed or guaranteed by the full faith and credit of the U.S. Government;
2. Federal Agency/Government Sponsored Enterprise — Debt obligations, participations or other instruments issued or fully
guaranteed by any U.S. Federal agency, instrumentality or government sponsored enterprise;
3. Corporates — U.S. dollar denominated corporate notes, bonds or other debt obligations issued or guaranteed by a domestic
corporation, financial institution, non-profit or other entity;
4. Municipals — Obligations, including both taxable and tax-exempt, issued or guaranteed by any State, territory or possession
of the United States, political subdivision, public corporation, authority, agency board, instrumentality or other unit of local
government of any State or territory;
5. Agency Mortgage Backed Securities — Mortgage backed securities, backed by residential, multi -family or commercial
mortgages, that are issued or fully guaranteed as to principal and interest by a U.S. Federal agency or government
sponsored enterprise, including but not limited to pass-throughs, collateralized mortgage obligations and real estate
mortgage investment conduits;
6. Non -Negotiable Certificates of Deposit - Non-negotiable interest bearing time certificates of deposit or savings accounts
in banks organized under the laws of this state or in national banks organized under the laws of the United States and
doing business in this state, provided that any such deposits are secured by the Florida Security for Public Deposits Act,
Chapter 280, Florida Statutes;
7. Depository Bank Account — Negotiated Order of Withdrawal accounts in banks organized under the laws of this state or
in national banks organized under the laws of the United States and doing business in this state, provided that any such
deposits are secured by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes;
8. Commercial Paper — U.S. dollar denominated commercial paper issued or guaranteed by a domestic corporation, company,
financial institution, trust or other entity, including both unsecured debt and asset backed programs;
41
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
9. Repurchase Agreements — Repurchase agreements must be governed by written agreement, counterparty must be a
Federal Reserve Bank, a Primary Dealer or a nationally chartered commercial bank. Acceptable underlying securities must
be direct obligations of, or that are fully guaranteed by, the United States or any agency of the United States, or U.S. Agency
backed mortgage related securities with an aggregate current fair value of at least 102% (or 100% if the counterparty is
a Federal Reserve Bank) of the purchase price plus current accrued price differential;
10. Money Market Funds — Shares in open end and no load money market mutual funds, provided such funds are registered
under the Investment Company Act of 1940 and operate in accordance with Security and Exchange Commission Rule 2a-7;
11. Fixed -Income Mutual Funds — Shares in open end and no load fixed income mutual funds whose underlying investments
would be permitted for purchase under the investment policy and all its restriction;
12. Local Government Investment Pools — State, local government or privately sponsored investment pools that are authorized
pursuant to state law;
13. The Florida Local Government Surplus Funds Trust Funds (Florida Prime).
The County maintains a cash and investment pool that is available for use by all funds. Investment income is allocated to
individual funds based upon their average daily balance in the cash and investment pool. Each fund's individual equity in the
County's cash and investment pool is considered to be a cash equivalent as the funds can deposit or withdraw cash at any time
without notice or penalty. The statement of cash flows for the proprietary funds also uses this methodology.
Investments in debt securities are recorded at fair value based upon values obtained from an independent pricing service.
Investments in the Local Government Investment Pools (FL PALM and FLCLASS) and the Local Government Surplus Funds Trust
Fund (Florida PRIME) are stated at fair value. The County categorizes its fair value measurements within the fair value hierarchy
established in GASB Statement No. 72, Fair Value Measurements and Application.
Florida Public Assets for Liquidity Management's FL PALM Portfolio Board of Trustees has determined that it will manage the FL
PALM Portfolio in accordance with GASB Statement No. 79, Certain External Investment Pools and Pool Participants requirements,
as applicable, for continued use of amortized cost. Therefore, the fair value of the County's position in the pool is the same as
the value of the pool shares. Throughout the year, and as of September 30, 2022, FL PALM Portfolio contained certain floating
and adjustable rate securities. These investments represented 34.0% of the FL PALM Portfolio's investments as of September
30, 2022. In addition, and in accordance with GASB 79, the County should disclose the presence of any limitations or restrictions
on withdrawals in notes to the financial statements. The FL PALM portfolio Board of Trustees (Trustees) can suspend the right
of withdrawal or postpone the date of payment if the Trustees determine that there is an emergency that makes the sale of a
Portfolio's securities or determination of its net asset value not reasonably practical.
Florida Cooperative Liquid Assets Securities System (FLCLASS) does not meet all of the specific criteria outlined in GASB 79
for measurement at amortized cost. FLCLASS measures its investments at fair value in accordance with paragraph 41 of GASB
79 and paragraph 11 of GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External
Investment Pools, as amended, and therefore a participant's investment in FLCLASS is not required to be categorized within the fair
value hierarchy for purposes of paragraph 81 a(2) of GASB 72. Throughout the year, and as of September 30, 2022, FLCLASS Daily
Liquidity Pool and FLCLASS Enhanced Cash Pool contained certain floating and adjustable rate securities. These investments
represented 55% and 39.6%, respectively, of the FLCLASS Daily Liquidity Pool and Enhanced Cash Pool as of September 30, 2022.
Florida PRIME, administered by the State Board of Administration (SBA) is considered a qualifying external investment pool that
meets all of the necessary criteria to elect to measure all of the investments at amortized cost. Therefore, the fair value of the
County's position in the pool is the same as the value of the pool shares. The Florida PRIME investments are not categorized
because they are not evidenced by securities that exist in physical or book entry form. Throughout the year, and as of September
30, 2022, Florida PRIME contained certain floating and adjustable rate securities. These investments represented 31.74% of
Florida PRIME's portfolio at September 30, 2022.
In accordance with GASB Statement No. 79, Certain External Investment Pools and Pool Participants, as a participant in a
qualifying external investment pool, the County should disclose the presence of any limitations or restrictions on withdrawals
(such as redemption notice periods, maximum transaction amounts, and the qualifying external investment pool's authority to
impose liquidity fees or redemption gates) in notes to the financial statements.
With regard to redemption gates, Chapter 218.409(8)(a), Florida Statutes, states that "The principal, and any part thereof, of each
account constituting the trust fund is subject to payment at any time from the moneys in the trust fund. However, the Executive
Director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund,
for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can invest moneys entrusted to
it in exercising its fiduciary responsibility. Such action must be immediately disclosed to all participants, the Trustees, the Joint
Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The
Trustees shall convene an emergency meeting as soon as practicable from the time the Executive Director has instituted such
measures and review the necessity of those measures. If the Trustees are unable to convene an emergency meeting before the
expiration of the 48-hour moratorium on contributions and withdrawals, the moratorium may be extended by the Executive Director
42
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
until the Trustees are able to meet to review the necessity for the moratorium. If the Trustees agree with such measures, the
Trustees shall vote to continue the measures for up to an additional 15 days. The Trustees must convene and vote to continue any
such measures before the expiration of the time limit set, but in no case may the time limit set by the Trustees exceed 15 days"
With regard to liquidity fees, Florida Statute 218.409(4) provides authority for the SBA to impose penalties for early withdrawal,
subject to disclosure in the enrollment materials of the amount and purpose of such fees. At present, no such disclosure has
been made.
As of September 30, 2022, 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.
RECEIVABLES
All trade receivables are reported net of an allowance for uncollectibles, which is generally all receivables outstanding in excess
of one year, except for Emergency Medical Services receivable, which uses an estimated uncollectible percentage.
INVENTORIES AND PREPAID COSTS
Inventory is valued at cost using the first -in, first -out method. Inventory in the governmental funds consists of supplies held for
consumption. The cost is recorded as an expenditure at the time inventory items are consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items. Inventories
and prepaid costs reported within governmental funds are classified as non -spendable, which indicates that they do not constitute
available resources. Inventories and prepaid costs in the government -wide and proprietary fund financial statements are reported
as an expense when consumed.
Inventory held for resale consists of real estate holdings, acquired through various programs, which the County intends to sell.
The value of these properties includes the original purchase price plus the cost of any rehabilitation. Inventory held for resale of
$3,888,793 is classified as restricted, which indicates that they do not constitute available resources.
CAPITAL ASSETS
Capital assets, which include property, plant, equipment and infrastructure (e.g., roads and bridges, water and wastewater
systems, drainage systems and similar items), are reported in the proprietary fund financial statements and in the governmental
or business -type activities columns in the government -wide financial statements. Capital assets are reported at cost where
historical records are available and at estimated fair value in the absence of historical cost records. Capital contributions are
recorded at acquisition value on the date donated.
The County capitalizes expenditures with a cost of $5,000 or more and with a useful life in excess of one year. Betterments and
major improvements which significantly increase value, change capacity or extend useful lives are also capitalized. Expenditures
for maintenance and repairs are charged to operating expenses. The cost of capital assets retired or sold, together with the
related accumulated depreciation, is removed from the respective accounts and any gain or loss on disposition is credited or
charged to earnings in the government -wide financial statements and proprietary fund financial statements.
Depreciation is calculated using the straight-line method. The estimated useful life of the various classes of depreciable capital
assets is as follows:
Capital Asset Class Estimated Useful Life
Buildings 20-45 years
Infrastructure 3-30 years
Improvements other than buildings 4-45 years
Machinery and equipment 3-20 years
FINANCED PURCHASE OBLIGATIONS
In the government -wide financial statements and proprietary fund financial statements, financed purchase obligations and the
related cost of assets acquired are reflected in the Statement of Net Position. For financed purchase obligations originating
in governmental funds, an expenditure for the asset and an offsetting other financial source are reflected in the fund financial
statements in the year of inception.
LEASES
The County is a lessee for noncancellable leases of land, building, office space and equipment. The County recognizes a lease
liability and an intangible right -to -use lease asset (lease asset) in the government -wide and proprietary fund financial statements.
43
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
At the commencement of a lease, the County initially measures the lease liability at the present value of payments expected to
be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The
lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the
lease commencement date, plus certain initial direct costs. Subsequently, the lease asset is amortized on a straight-line basis
over the term of the lease or the useful life of the underlying asset if shorter than the term of the lease.
Key estimates and judgments related to leases include how the County determines (1) the discount rate it uses to discount the
expected lease payments to present value, (2) lease term, and (3) lease payments.
The County uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not
provided, the County generally uses its estimated incremental borrowing rate as the discount rate for leases.
The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability
are comprised of fixed payments and any purchase option price that the County is reasonably certain to exercise. In determining
the lease term, management considers all facts and circumstances that create an economic incentive to exercise an extension
option, or not exercise a termination option. Extension options are only included in the lease term if the lease is reasonably certain
to be extended.
The County monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease
asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability.
Leased assets are reported with other capital assets and lease liabilities are reported with long-term debt on the statement of
net position.
Payments due under the lease contracts include fixed payments plus, for many of the County's leases, variable payments. For
office space leases that include variable payments, those payments include the County's proportionate share of property taxes,
insurance, and common area maintenance. For office equipment leases for which the County has elected not to separate lease
and non -lease components, maintenance services are provided by the lessor at a fixed cost and are included in the fixed lease
payments.
Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present
value of the following lease payments:
• Fixed payments (including in -substance fixed payments), less any lease incentives receivable.
• Amounts expected to be payable by the County under residual value guarantees.
• The exercise price of a purchase option if it is reasonably certain the option will be executed.
• Payments of penalties for terminating the lease, if the lease term reflects the County exercising that option.
Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability.
Extension and termination options are included in a number of property and equipment leases across the County. These are used
to maximize operational flexibility in terms of managing the assets used in the County's operations. The majority of extension
and termination options held are exercisable only by the County and not by the respective lessor.
The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which
is generally the case for leases in the group, the lessee's incremental borrowing rate is used. The incremental borrowing rate
is the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the
right -of -use asset in a similar economic environment with similar terms, security and conditions.
Variable payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate) are initially
measured using the index or rate as of the commencement of the lease term.
The County is a lessor for noncancellable leases of land, building, office space and equipment. The County recognizes a lease
receivable and a deferred inflow of resources in the government -wide, proprietary fund and governmental fund financial statements.
At the commencement of a lease, the County initially measures the lease receivable at the present value of payments expected
to be received during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments
received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease
payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as
revenue over the term of the lease.
Key estimates and judgments include how the County determines (1) the discount rate it uses to discount the expected lease
receipts to present value, (2) lease term, and (3) lease receipts.
The County uses its estimated incremental borrowing rate as the discount rate for leases
44
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable
is comprised of fixed payments from the lessee.
The County monitors changes in circumstances that would require a remeasurement of its lease, and will remeasure the lease
receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the
lease receivable.
DEFERRED OUTFLOWS/INFLOWS OF RESOURCES
In addition to assets, the statement of financial position reports a separate section for deferred outflows of resources. This
separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a
future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.
The deferred outflows of resources reported in the County's statement of net assets represent changes in actuarial assumptions,
the net difference between projected and actual earnings on investments, changes in the proportion and differences between the
County's contributions and proportionate share of contributions and the County's contributions subsequent to the measurement
date, relating to the Florida Retirement System Pension Plan and the Retiree Health Insurance Subsidy Program. In addition,
deferred outflows related to the difference between expected and actual economic experience relating to the Florida Retirement
System Pension and the Other Post Employment Benefits Plan were reported. These amounts will be recognized as increases
in pension expense and OPEB expense in future years. The County also reports the deferred charge on refunding as a deferred
outflow in the proprietary and government wide statements of net position. A deferred charge results from the difference in the
carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of
the refunded or refunding debt.
In addition to liabilities, the statement of financial position reports a separate section for deferred inflows of resources. This
separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a
future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The deferred inflows of resources
reported in the County's statement of net position represent the difference between expected and actual economic experience,
changes in actuarial assumptions, net difference between projected and actual earnings on investments, and changes in the
proportion and differences between the County's contributions and proportionate share of contributions relating to the Florida
Retirement System Pension Plan, the Retiree Health Insurance Subsidy Program and the Other Post Employment Benefits Plan.
These amounts will be recognized as reductions in pension expense and OPEB expense in future years. The County has also
recorded amounts associated with long term receivables, primarily related to deferred impact fee agreements and leases, as
deferred inflows.
BOND PREMIUMS, DISCOUNTS, LOSS ON DEFEASANCE AND ISSUANCE COSTS
Bond premiums, discounts and bond insurance costs for the governmental activities and the business -type activities are deferred
and amortized over the term of the bonds using the straight-line method which approximates the effective interest method. Bond
premiums and discounts are presented as an increase, or decrease, respectively, to the face amount of bonds payable, while
bond insurance costs are recorded as deferred charges and shown on the face of the Statement of Net Position as a component
of noncurrent assets.
Pursuant to GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, the gain or loss on defeasance of debt is
reported as a deferred inflow or outflow of resources. The gain or loss is calculated as the difference between the reacquisition
price of the refunded debt and the net carrying amount at the time of the refunding. The gain or loss is amortized on a straight
line basis over the shorter of the life of the new debt or the remaining life of the old debt as a component of interest expense.
In the governmental fund financials, bond premiums and discounts and issuance costs, including bond insurance costs, are
recognized in the current period. The face amount of debt is reported as other financing sources. Premiums and discounts on
debt issuances are also reported as other financing sources, or uses. Issuance costs, including bond insurance costs, whether
or not they have been paid from debt proceeds are reported as debt service expenditures.
PROPERTY TAXES
Property taxes become due and payable on November 1st of each year and become delinquent on April 1st of the following
year. Property taxes receivable and a corresponding allowance for uncollectible property taxes are not included in the financial
statements, as delinquent taxes as of September 30, 2022 are not significant. Discounts on property taxes are allowed for
payments made prior to the April 1 st delinquent date as follows: November - 4%, December - 3%, January - 2%, and February -1
Tax certificates for the full amount of any unpaid taxes must be sold no later than June 1 st of each year.
No accrual for the property tax levy becoming due in November 2022 is included in the accompanying financial statements, since
such taxes are collected to finance expenditures of the subsequent period.
45
Key dates in the property tax cycle for the fiscal year ended September 30, 2022 are as follows:
Property Tax Cycle
Assessment roll compiled
Assessment roll certified
Millage resolution approved
Beginning of fiscal year for tax levy
Taxes due and payable (levy date)
Collection dates
Due date
Delinquent (lien date)
Tax certificates sold
ACCOUNTING ESTIMATES
Date
January 1, 2021
July 1, 2021
Within 35 days of the certification of the assessment roll
October 1, 2021
November 1, 2021
By November 30: 4% discount
By December 31: 3% discount
By January 31: 2% discount
By February 28: 1 % discount
March 31, 2022
April 1, 2022
Prior to June 1, 2022
The preparation of financial statements in conformity with generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting
period. Actual results may differ from those estimated.
UNEARNED REVENUE
In instances where assets have been received by the County for services to be rendered in future periods, asset balances are
offset by an unearned revenue liability account in the financial statements. Unearned revenues of the County as of September
30, 2022 are gift certificates issued and prepayments on accounts.
ACCRUED COMPENSATED ABSENCES
The County follows the provisions of GASB Statement No. 16, Accounting for Compensated Absences. This statement provides
for the measurement of accrued vacation leave and other compensated absences using the pay or salary rates in effect at the
balance sheet date. It also requires additional amounts to be accrued for certain salary related payments associated with the
payment of compensated absences.
It is the Board of County Commissioners' policy to allow employees of record on August 2, 1996 a sick leave payment upon
termination for any service period earned prior to August 2, 1996 and a payout of unused vacation up to 440 hours for all
employees. The Sheriff's policy allows for a percentage of unused sick leave payout based upon years of service, not to exceed
2,000 hours, and up to 500 hours of unused vacation time.
The Clerk of the Circuit Court and Comptroller allows for a percentage of unused sick leave payout based upon years of service
for employees hired before December 21, 2010, and up to 240 hours of unused vacation hours. The Property Appraiser's policy
allows for a percentage of unused sick leave payout based upon years of service, not to exceed 1,040 hours, and up to 200 hours
of unused vacation hours. The Supervisor of Election's policy allows for a percentage of unused sick leave payout based upon
years of service, and up to 440 hours of unused vacation.
On October 1, 2021, the Tax Collector's office transitioned from having two paid time off (PTO) policies (sick and vacation) to a
single PTO policy. All full-time employees of the Tax Collector are allowed to accumulate between 136 and 240 hours of PTO
annually, depending on tenure. Any accrued hours from the discontinued sick policy were valued at the employees' September
30, 2021, rate of pay with multiple options for payout. First, employees with 800 or more accumulated sick hours could choose
to exchange their first 800 hours for free health insurance until covered by Medicare. Secondly, all remaining employees could
choose between 1) immediate 100% payout into their Section 457(b) upon satisfying budget and Internal Revenue Service
contributions limitations or 2) up to 75% payout upon separation of service. Any accrued hours from the discontinued vacation
policy were rolled into the new PTO policy. Upon separation of service, employees receive 1) 100% of accumulated PTO hours at
their current rate of pay and 2) a percentage of unused sick leave hours (ranging from 0%to 75%, depending on years of service),
valued at the employees' September 30, 2021, rate of pay.
Payments for compensated absences are made by the respective fund. Accrued compensated absences are recorded as
liabilities in the government -wide financial statements and the proprietary fund financials. A liability is reported in governmental
funds only if they have matured, for example, as a result of employee resignations or retirements, and are considered due and
payable as of year end.
PENSIONS
In the government -wide and proprietary funds statements of net position, liabilities are recognized for the County's proportionate
share of each pension plan's net pension liability. For purposes of measuring the net pension liability, deferred outflows/inflows
46
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
of resources, and pension expense, information about the fiduciary net position of the Florida Retirement System (FRS) defined
benefit plan and the Health Insurance Subsidy (HIS) and additions to/deductions from FRS's and HIS's fiduciary net position
have been determined on the same basis as they are reported by the FRS and HIS plans. For this purpose, plan contributions are
recognized as of employer payroll paid dates and benefit payments and refunds of employee contributions are recognized when
due and payable in accordance with the benefit terms. Investments are reported at fair value.
OTHER POST EMPLOYMENT BENEFITS (OPEB)
In the government -wide and proprietary funds statements of net position, liabilities are recognized for the County's total OPEB
liability as determined by an actuarial review of the healthcare coverage purchased by retirees to continue participation in the
County's self -insured health plan. The County is responsible for covering the excess of retiree claims over premium payments
made by retirees to the County, which creates an other post employment benefit. OPEB expense is recognized immediately for
changes in the OPEB liability resulting from current year service cost, interest on the total OPEB liability and changes of benefit
terms or actuarial assumptions.
NOTE 2 — CASH AND INVESTMENTS
As of September 30, 2022, the County had the following cash, cash equivalents and investments
Investment
Final Maturities
Fair Value
First Call Date
Call Frequency
Rating
Cash on hand
N/A
$ 332,888
N/A
N/A
N/A
Demand deposits
N/A
136,164,039
N/A
N/A
N/A
Money market / CD
N/A
21,350
N/A
N/A
N/A
State Board of Administration Pool:
Florida PRIME
N/A
200,529,078
N/A
N/A
AAAnn
Intergovernmental Pools:
FLCLASS Daily Liquidity
N/A
20,549,600
N/A
N/A
AAAm
FLCLASS Enhanced Cash
N/A
120,203,600
AAAf
FL PALM
N/A
145,986,102
N/A
N/A
AAAm
US Treasury Bill
11/03/22
9,977,110
none
N/A
AA+
US Treasury Bill
12/22/22
24,823,700
none
N/A
AA+
Federal Farm Credit Bank
01/18/23
9,706,518
06/08/22
continuously
AA+
Federal Farm Credit Bank
03/03/23
9,524,760
none
N/A
AA+
US Treasury Bill
03/23/23
14,739,105
none
N/A
AA+
US Treasury Bill
03/23/23
19,652,140
none
N/A
AA+
Federal Farm Credit Bank
04/27/23
9,803,420
07/27/22
continuously
AA+
Federal Home Loan Mortgage Corp.
06/01/23
26,456,325
12/01/21
quarterly
AA+
Federal Farm Credit Bank
06/08/23
24,361,850
none
N/A
AA+
US Treasury Bill
06/15/23
486,680
none
N/A
AA+
Bank of America Corp Note STEP
06/21 /23
24,229,475
12/21/21
quarterly
AA+
US Treasury Note
10/31/23
14,383,590
none
N/A
AA+
US Treasury Note
10/31/23
23,972,650
none
N/A
AA+
Federal Home Loan Mortgage Corp.
11 /02/23
23,905,750
11 /02/21
annual
AA+
Federal Home Loan Mortgage Corp.
11/13/23
23,899,175
05/13/22
semi-annual
AA+
Federal Farm Credit Bank
11/16/23
14,328,240
05/16/22
continuously
AA+
Federal Home Loan Mortgage Corp.
11/24/23
23,845,375
11/24/21
quarterly
AA+
Federal Farm Credit Bank
11/30/23
524,106
none
N/A
AA+
US Treasury Note
11/30/23
23,928,700
none
N/A
AA+
US Treasury Note
11/30/23
23,928,700
none
N/A
AA+
US Treasury Note
11/30/23
23,928,700
none
N/A
AA+
CitiGroup Global Markets Note
01/29/24
23,308,750
01/29/22
quarterly
AA+
Federal Home Loan Bank
01/29/24
16,030,530
07/29/21
quarterly
AA+
Federal Home Loan Bank
01/29/24
21,304,905
07/29/21
quarterly
AA+
Bank of America Corp Note STEP
02/16/24
26,334,896
02/16/22
quarterly
AA+
Federal Home Loan Bank
03/12/24
23,548,275
04/12/21
monthly
AA+
US Treasury Note
03/15/24
23,580,075
none
N/A
AA+
Federal Farm Credit Bank
03/28/24
469,725
none
N/A
AA+
Farmer Mac
04/01/24
9,441,590
none
N/A
AA+
US Treasury Note
04/15/24
23,545,900
none
N/A
AA+
Federal Home Loan Bank
05/24/24
23,337,000
02/24/21
continuously
AA+
US Treasury Note
07/15/24
23,348,625
none
N/A
AA+
(Continued)
47
NOTE 2 - CASH AND INVESTMENTS (Continued)
Investment
Final Maturities
Fair Value
First Call Date
Call Frequency
Rating
US Treasury Note
08/15/24
46,529,300
none
N/A
AA+
Federal Home Loan Bank
08/28/24
319,348
none
N/A
AA+
Federal Farm Credit Bank
10/15/24
460,230
none
N/A
AA+
Federal Home Loan Bank
11/15/24
92,660,200
02/15/22
quarterly
AA+
Federal Home Loan Bank
11/26/24
22,956,575
11/26/21
quarterly
AA+
Federal Home Loan Bank
12/09/24
229,607
none
N/A
AA+
Federal National Mortgage Assoc.
12/16/24
22,906,450
06/16/21
quarterly
AA+
Federal Home Loan Bank
12/30/24
22,900,475
09/30/21
quarterly
AA+
Federal Farm Credit Bank
01/13/25
359,134
none
N/A
AA+
Federal Home Loan Bank
01/15/25
454,300
none
N/A
AA+
Federal Farm Credit Bank
02/10/25
455,160
none
N/A
AA+
Federal Home Loan Bank
02/26/25
22,803,900
11/26/21
quarterly
AA+
Federal Home Loan Bank
03/28/25
453,760
none
N/A
AA+
US Treasury Note
03/31/25
480,955
none
N/A
AA+
US Treasury Note
04/15/25
480,295
none
N/A
AA+
Federal Farm Credit Bank
05/06/25
22,689,575
05/06/22
continuously
AA+
US Treasury Note
05/31/25
449,845
none
N/A
AA+
Federal Home Loan Bank
08/27/25
22,493,250
09/27/21
monthly
AA+
Federal Farm Credit Bank
09/16/25
446,740
none
N/A
AA+
Federal Home Loan Bank STEP
09/30/25
21,607,440
12/30/21
quarterly
AA+
Federal Home Loan Mortgage Corp.
10/20/25
222,363
none
N/A
AA+
Federal Home Loan Mortgage Corp.
11/25/25
442,890
none
N/A
AA+
Federal Home Loan Mortgage Corp.
12/01/25
22,160,525
12/01/21
quarterly
AA+
Federal National Mortgage Assoc.
12/10/25
22,164,000
06/10/21
quarterly
AA+
Federal Home Loan Mortgage Corp.
12/17/25
22,130,750
12/17/21
quarterly
AA+
Federal Home Loan Mortgage Corp.
01/07/26
312,304
none
N/A
AA+
Federal Home Loan Bank
01/29/26
219,250
none
N/A
AA+
Federal Home Loan Bank STEP
01/29/26
220,652
none
N/A
AA+
Federal Farm Credit Bank
02/04/26
219,325
none
N/A
AA+
Federal Home Loan Bank STEP
02/18/26
441,025
none
N/A
AA+
Federal Home Loan Bank
02/26/26
439,315
none
N/A
AA+
Federal Home Loan Bank STEP
03/17/26
22,338,100
06/17/21
quarterly
AA+
Federal Home Loan Bank STEP
03/26/26
447,375
none
N/A
AA+
Federal Home Loan Bank STEP
04/28/26
22,244,875
07/28/21
quarterly
AA+
Federal Farm Credit Bank
05/03/26
87,264
none
N/A
AA+
Federal Home Loan Bank STEP
06/16/26
22,101,850
09/16/21
quarterly
AA+
Federal Home Loan Mortgage Corp.
06/23/26
438,300
none
N/A
AA+
Federal Home Loan Bank STEP
06/24/26
22,086,075
09/24/21
quarterly
AA+
Federal Home Loan Bank STEP
06/30/26
22,186,950
09/30/21
quarterly
AA+
Federal Home Loan Mortgage Corp.
07/30/26
109,121
none
N/A
AA+
Federal Farm Credit Bank
09/01/26
437,520
none
N/A
AA+
Federal Farm Credit Bank
09/01/26
21,823,600
09/01/22
continuously
AA+
Federal Home Loan Bank
09/16/26
13,094,820
09/16/22
quarterly
AA+
Federal Home Loan Bank
09/30/26
21,888,650
12/30/21
quarterly
AA+
Federal Home Loan Bank
09/30/26
218,443
none
N/A
AA+
Federal Home Loan Bank
10/14/26
21,930,675
01/14/22
quarterly
AA+
Federal Home Loan Bank
10/21/26
21,896,650
01/21/22
quarterly
AA+
Federal Home Loan Bank
10/22/26
21,939,400
11/22/21
monthly
AA+
US Treasury Note
11/30/26
422,878
none
N/A
AA+
Federal Home Loan Bank
02/26/27
120,613
none
N/A
AA+
US Treasury Note
08/28/27
227,803
none
N/A
AA+
Total $
1,815,592,897
*Credit ratings are Standard & Poor ratings except for Florida Enhanced Cash which is a Fitch rating
The County maintains a cash and investment pool that is available for use by all funds. Each fund's portion of this pool is displayed
on the balance sheet under the heading of Cash and Investments. Investment income is allocated monthly to participating funds
based on the percentage of each fund's average daily balance in the total pool.
CREDIT RISK
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The County's investment
policy limits credit risk by restricting authorized investments to the Florida Local Government Surplus Trust Fund (Florida PRIME),
other Local Government Investment Pools rated AAAm/Aaa-mf, S1 or equivalent, local direct obligations of, or obligations backed
by the full faith and credit of the United States Government, U.S. government sponsored Corporation/Instrumentalities (except
for Student Loan Marketing Association), certificates of deposit collateralized by U.S. Government Securities or Agencies, fixed
income mutual funds collateralized by U.S. Government Securities or Agencies, domestic bankers' acceptances rated "AA" or
higher, prime commercial paper rated "A-1" and "P-1", tax-exempt obligations rated 'AA" or higher and issued by state or local
governments, NOW accounts fully collateralized in accordance with Chapter 280, Florida Statutes and qualifying repurchase
agreements. The policy requires that each firm involved in a repurchase agreement must execute the County's master repurchase
agreement, a third party custodian must hold collateral for all repurchase agreements with a term of more than one day and
48
NOTE 2 - CASH AND INVESTMENTS (Continued)
the fair value of the collateral shall maintain a minimum price of 101 percent on U.S. Government securities and 104 percent on
Agencies and Instrumentalities with a term over five (5) years, and must be marked to market at least weekly.
Florida PRIME is an investment pool administered by the State Board of Administration (SBA), under the regulatory oversight of
the State of Florida. As of September 30, 2022, the County had $200,529,078 invested in the State Board of Administration's Local
Government Surplus Funds Trust Fund Investment Pool. All of these funds are held in the Florida PRIME pool. Florida PRIME is
rated "AAAm" by Standard & Poor's Global Ratings Services.
Florida Cooperative Liquid Assets Securities System (FLCLASS) is an intergovernmental investment pool established pursuant to
the Florida Interlocal Cooperation Act of 1969, as amended, (Section 163.01, Florida Statutes) and is an authorized investment
under Section 218.415, Florida Statutes. FLCLASS is supervised by a board of trustees comprised of eligible participants of the
FLCLASS program. As of September 30, 2022, the County had $140,753,200 invested in FLCLASS. Of this amount, $20,549,600
was invested in the FL CLASS Daily Liquidity Fund and $120,203,600 was invested in the FL CLASS Enhanced Cash Pool. The
FLCLASS Daily Liquidity Pool is rated "AAAm" by Standard and Poor's Global Ratings Services and the FLCLASS Enhanced Cash
Pool is rated "AAAf/S1" by Fitch Ratings.
Florida Public Assets for Liquidity Management (FL PALM) is a common law trust organized under the authority of the Florida
Interlocal Cooperation Act of 1969, as amended, (Section 163.01, Florida Statutes) and Section 218.415 of the Florida Statutes.
FL PALM was created on October 22, 2010 by contract among its participating governmental units and is governed by trustees.
The fund is an investment opportunity for State school districts, political subdivisions of the State or instrumentalities of political
subdivisions of the State. As of September 30, 2022, the County had $145,986,102 invested in FL PALM. Of this amount,
$100,986,102 was invested in the FL PALM Portfolio and $45,000,000 was invested in the FL PALM Term Pool. The FL PALM
Portfolio is rated "AAAm" by Standard and Poor's Global Ratings Services.
All cash deposits are held in qualified public depositories pursuant to Florida Statutes Chapter 280, "Florida Security for Public
Deposits Act". Under the Act, all qualified public depositories are required to pledge eligible collateral having a fair value equal
to or greater than the average daily or monthly balance of all public deposits, multiplied by the depository's collateral pledging
level. The pledging level may range from 25% to 150% depending upon the depository's financial condition. Any losses to public
deposits are covered by applicable deposit insurance, sale of securities pledged as collateral, and if necessary, assessments
against other qualified public depositories of the same type as the depository in default.
CUSTODIAL CREDIT RISK
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will
not be able to recover deposits or will not be able to recover collateral securities that are in the possession of an outside party.
As of September 30, 2022, the County had demand deposits of $136,164,039. All balances in excess of the Federal Depository
Insurance Corporation (FDIC) insurance for these demand deposits are fully collateralized by the multiple financial institutions'
collateral pool in accordance with Florida Statutes Section 280. The discretely presented component unit demand deposits of
$475,561 are secured by the FDIC as individual entity balances do not exceed $250,000. Custodial credit risk for investments
is the risk that, in the event of the failure of the counterparty to a transaction, a government will not be able to recover the value
of the investment or collateral securities that are in the possession of an outside party. The County's investment policy requires
execution of a third -party custodial safekeeping agreement for purchased securities and collateral, and requires that securities
be held in the County's name.
CREDIT RISK
The County's investment policy establishes limitations on portfolio composition in order to control the concentration of credit
risk. The following maximum limits per sector, are established by policy:
Sector
U.S. Treasury
U.S. Agencies
Corporates
Certificates of Deposit
Repurchase Agreements
Commercial Paper
State Investment Pools
Investment Policy Limit
100%
80% - Maximum 40% per issuer
25%
30%
20%
25%
50%
49
NOTE 2 — CASH AND 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. One of the
primary objectives of the investment policy is to match investment cash flow and maturity with known cash needs and anticipated
cash flow requirements. The County limits exposure to interest rate risk by structuring the portfolio to meet daily cash flow
demands. Investments shall have an average maturity of not more than five years, except for mortgage securities. Mortgage
securities will not be used to match liabilities that are reasonably definable as to amount and disbursement date and are used
to invest funds associated with reserves or liabilities that are not associated with a specifically identified cash flow schedule.
The weighted average days to maturity (WAM) of Florida PRIME on September 30, 2022, was 21 days. The weighted average
life (WAL) of Florida PRIME at September 30, 2022, was 72 days. The weighted average days to maturity (WAM) of the FL PALM
Portfolio was 25 days, while the weighted average life (WAL) was 62 days. The weighted average days to maturity (WAM) of
the FLCLASS Liquidity Pool on September 30, 2022, was 27 days, while the weighted average life (WAL) was 68 days. The
weighted average days to maturity (WAM) of the FLCLASS Enhanced Cash Pool at September 30, 2022 was 105 days, while the
weighted average life (WAL) was 176 days. Next interest rate reset dates for floating rate securities are used in the calculation
of the respective weighted average days to maturity.
The portion of the County's cash and investments invested in U.S. Government Agencies is detailed as follows, at September
30, 2022:
Issuer
Federal Home Loan Bank
Federal Farm Credit Bank
Federal Home Loan Mortgage Corporation
Federal National Mortgage Association
Federal Agricultural Mortgage Corporation
Total U.S. Government Agencies
Reconciliation of cash and investments to the basic financial statements:
Primary government:
Cash and investments
Restricted cash and investments - current
Restricted cash and investments - noncurrent
Fiduciary funds:
Cash and investments
Total
FAIR VALUE MEASUREMENTS
% of Portfolio
27.81 %
6.37%
7.93%
2.48%
0.52%
45.11 %
683,191,879
129,381,478
976,443,924
26,575,616
$ 1,815,592,897
GASB Statement No. 72, Fair Value Measurements and Application, sets forth the framework for measuring fair value. That
framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The
hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
The three levels of the fair value hierarchy under GASB Statement No. 72 are described as follows:
Level 1 — Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets
that the County has the ability to access.
Level 2 — Inputs to the valuation methodology include:
Quoted prices for similar assets or liabilities in active markets;
Quoted prices for identical or similar assets or liabilities in inactive markets;
Inputs other than quoted prices that are observable for the asset or liability;
Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3 — Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Unobservable
inputs, if any, reflect the County's own assumptions about the inputs market participants would use in pricing the asset or
liability (including assumptions about risk). Unobservable inputs are developed based on the best information available in
the circumstances and may include the County's own data.
50
NOTE 2 — CASH AND INVESTMENTS (Continued)
The County has the following recurring fair value measurements as of September 30, 2022:
US Treasury Notes and Bills classified as Level 1 of the fair value hierarchy were valued using prices quoted in active markets
for those securities. As of September 30, 2022, the fair value of the County's US Treasury Notes and Bills was $298,886,751.
US Agency obligations and corporate notes classified as Level 2 of the fair value hierarchy were valued using quoted prices
for similar assets in active markets for those securities. As of September 30, 2022, the fair value of the County's US Agency
obligations was $819,046,368 and the fair value of its corporate notes was $73,873,121.
NOTE 3 — TRADE RECEIVABLES
Trade receivables for Governmental and Business -type Activities are net of an allowance for doubtful accounts as follows:
General Fund
Bayshore Gateway Community Redevelopment Agency
Grants and Shared Revenue
Nonmajor Governmental Funds
Total receivables reported in Governmental Funds
Total receivables reported in Internal Service Funds
Total Governmental Activities trade receivables
County Water and Sewer
Solid Waste Disposal
Emergency Medical Services
Nonmajor Enterprise Funds
Total Business -type Activities trade receivables
Less Allowance
Trade
for Doubtful
Net Trade
Receivables
Accounts
Receivables
$ 1,044,364 $
529,185 $
515,179
12,720
12,720
-
1,875
132
1,743
2,432,998
354,111
2,078,887
3,491,957
896,148
2,595,809
1,223,498 18,562 1,204,936
$ 4,715,455 $ 914,710 $ 3,800,745
$ 16,658,562 $ 99,205 $ 16,559,357
1,199,667 17,801 1,181,866
30,588,882 26,053,919 4,534,963
34,767 16,293 18,474
$ 48,481,878 $ 26,187,218 $ 22,294,660
The County has multi and single-family home rehabilitation and homeownership loan programs funded under the Community
Development Block Grant (CDBG), HOME Investment Partnership Program (HOME), Neighborhood Stabilization Program (NSP)
and the State Housing Initiatives Partnership Program (SHIP), in addition to some affordable housing impact fee programs. If the
homeowners remain in their homes for the full term of the agreement, the loan or deferred impact fee is forgiven. If the property
is transferred or sold before the end of the agreement, the proceeds from the repayment including interest, if any, are then repaid
and returned to the appropriate program. A lien is placed against the property to ensure the repayment of the loan and interest,
if any. As collection is uncertain on these loans, they are not recognized in the financial statements.
51
NOTE 4 - LEASE RECEIVABLES
The County leases land, building, office space and equipment to third parties. As of September 30, 2022, the County's lease
receivables were valued at $9,333,637 and the deferred inflow of resources associated with these leases that will be recognized
as revenue over the term of the leases was $8,707,434. The lease receivables for Governmental and Business -type Activities at
September 30, 2022, were as follows:
GOVERNMENTAL ACTIVITIES
Land leases - annual lease payments totaling $97,564 plus interest at a rate of 2.29%, due dates ranging from
January 20, 2023 to March 13, 2048. $ 5,412,654
Building and office space leases - annual lease payments totaling $85,472 plus interest at a rate ranging from
1.26% - 2.31 %, due dates ranging from October 1, 2022 to January 1, 2029. 525,231
Equipment leases - annual lease payments totaling $79,102 plus interest at a rate of 2.29%, due dates ranging
from December 19, 2022 to May 21, 2030. 724,238
Total Governmental Activities Lease Receivables $ 6,662,123
BUSINESS -TYPE ACTIVITIES
Land leases - annual lease payments totaling $37,390 plus interest at a rate ranging from 0.15%to 2.44%, due
dates ranging from October 1, 2022 to March 1, 2062. $ 2,282,962
Building and office space leases - annual lease payments totaling $193,694 plus interest at a rate of 2.29%,
due dates ranging from October 1, 2022 to August 1, 2028. 388,552
Total Business -type Activities Lease Receivables $ 2,671,514
The payments for the lease receivables are expected to be received in the subsequent years as follows:
Governmental Activities
Fiscal Year
Principal
Interest
2023 $
291,107 $
146,368
2024
311,116
140,275
2025
291,850
133,230
2026
311,528
126,384
2027
335,259
119,054
2028-2032
1,406,537
490,531
2033-2037
1,469,596
340,457
2038-2042
1,604,782
151,119
2043-2047
519,653
44,824
2048-2052
120,695
1,469
2053-2057
-
-
2058-2062
Business -like Activities
Principal
Interest
$ 127,944 $
61,163
103,768
58,957
107,914
56,360
110,421
53,853
120,684
51,270
365,126
226,885
395,526
185,983
424,651
134,740
195,400
98,570
220,405
73,565
248,704
45,266
250,971
13,602
$ 6,662,123 $ 1,693,711 $ 2,671,514 $ 1,060,214
52
NOTE 4 - LEASE RECEIVABLES (Continued)
The County has two leasing agreements which qualify to be treated as regulated in accordance with the requirements of GASB
Statement No. 87, Leases. The County leases land and a building to third parties under these agreements. The land lease is for
twenty one years with an option to extend for nine years and annual lease payments of $2,448. The building lease is for ten years
and monthly lease payments of $1,753. The County recognized $23,874 in lease revenue during the current fiscal year related to
these leases. As of September 30, 2022, the remaining nominal amount of revenue that will be recognized as revenue over the
lease term associated with these leases amounts to $79,430 which is expected to be received for each of the subsequent five
years and in five-year increments thereafter as stated below:
Business -type
Fiscal Year
Activities
2023
$ 18,230
2024
2,448
2025
2,448
2026
2,448
2027
2,448
2028-2032
12,240
2033-2037
12,240
2038-2042
12,240
2043-2047
12,240
2048-2052
2,448
NOTE 5 — INTERFUND PAYABLES AND RECEIVABLES
ADVANCES
Advances were made to funds for the purposes of capital acquisitions and improvements. Reimbursements will take place over
the next several years as funds are available. Advances to and advances from other funds at September 30, 2022 were as follows:
Governmental Activities:
General Fund
Other governmental funds:
Community Development
Improvement Districts
Fire Control Districts
Tourist Development
Amateur Sports Complex
Other Capital Projects
Total Governmental Activities
Business -type Activities:
Other business -type funds:
Airport Authority
Total Business -type Activities
Total Advances
Advance To Advance From
$ 268,100 $
,609,689
- 73,129
- 268,100
7,200,000 -
- 17,200,000
73,129 9,264
19,150,918 17,550,493
- 1,600,425
- 1,600,425
$ 19,150,918 $ 19,150,918
53
NOTE 5 - INTERFUND PAYABLES AND RECEIVABLES (Continued)
DUE FROM AND DUE TO
Interfund receivables and payables generally result from recording the excess fees associated with Tax Collector and Property
Appraiser services, as excess fees are allocated from the General Fund back to the funds that paid for the collection services.
Excess fees are calculated after year end, and as such are interfund receivables and payables. Other outstanding balances are
the result of time delays between the provision and payment of interfund services and to cover temporary cash deficits.
Due from and due to other funds at September 30, 2022 were as follows
Due From
Due To
Governmental Activities:
General Fund
$ 1,019,111 $
2,882,930
Grants and Shared Revenues
343,598
1,635,002
Infrastructure Sales Tax
54,276
-
Other Governmental Funds:
Road Districts
3,812
-
Unincorporated Area MSTD
529,034
10,539
Community Development
2
11,509
Water Management and Pollution Control
31,681
-
Pelican Bay Special Revenue
35,623
-
Stormwater Utility
-
5,124
Improvement Districts
55,370
3,396
Fire Control Districts
13,494
-
Lighting Districts
7,624
-
911 Enhancement Fee
-
243,525
Tourist Development
1,964,987
582
800 MHz IRCP Fund
55,652
-
State Court Administration
57,301
-
Consficated Property
-
7,000
Utility Fee
-
91
Conservation Collier
203,440
312
Court Information Technology
57,682
-
Court Services
-
295,230
Court Facilities
77,204
-
Other Public Safety Revenue Funds
77,566
117,307
Other Special Revenue Funds
23,092
-
County -Wide Capital Improvement
8,077
224,791
Parks Improvements
2,153
-
Water Management
5,719
Pelican Bay Capital
16,340
-
Road Construction
973,121
342,312
Other Capital Projects
176
-
Total other governmental funds
4,199,150
1,261,718
Business -type Activities:
County Water and Sewer
$ 436 $
8,128
Solid Waste
176,790
-
Emergency Medical Services
-
34,080
Other Nonmajor Business -type Funds:
Collier Area Transit
28,497
-
Total All Funds
$ 5,821,858 $
5, 221,858
54
NOTE 6 - CAPITAL ASSETS
A summary of capital asset activity for the year ended September 30, 2022 is as follows:
October 1,
Transfers and
September 30,
2021
Additions
Deductions
Reclassifications
2022
Governmental Activities:
Capital assets not depreciated:
Land and other non -depreciable assets
$ 524,086,375 $
82,532,104 $
(274,639)
$ 3,038
$ 606,346,878
Construction in progress
95,033,694
94,104,243
(486,218)
(66,155,126)
122,496,593
Total capital assets not depreciated
619,120,069
176,636,347
(760,857)
(66,152,088)
728,843,471
Capital assets depreciated:
Buildings
507,358,149
771,370
(593,930)
26,258,453
533,794,042
Infrastructure
1,203,852,596
238,147
(390,570)
10,849,745
1,214,549,918
Improvements other than buildings
369,862,887
2,195,371
(3,656,720)
24,747,757
393,149,295
Machinery and equipment
265,592,355
23,477,773
(11,385,130)
4,027,802
281,712,800
Right -to -use leased land
450,852
-
-
450,852
Right -to -use leased buildings
2,442,233
776,939
3,219,172
Right -to -use leased equipment
5,841,694
88,026
(252,060)
-
5,677,660
Total capital assets depreciated
2,355,400,766
27,547,626
(16,278,410)
65,883,757
2,432,553,739
Less accumulated depreciation:
Buildings
249,442,699
16,856,403
(291,524)
(14,250)
265,993,328
Infrastructure
557,125,917
38,173,835
(250,162)
(1,786)
595,047,804
Improvements other than buildings
226,018,238
14,193,695
(2,568,496)
-
237,643,437
Machinery and equipment
187,411,881
26,455,835
(10,364,716)
12,255
203,515,255
Right -to -use leased land
72,563
39,720
-
112,283
Right -to -use leased buildings
386,366
340,321
726,687
Right -to -use leased equipment
1,137,954
719,318
(252,053)
1,605,219
Total accumulated depreciation
1,221,595,618
96,779,127
(13,726,951)
(3,781)
1,304,644,013
Total depreciable capital assets, net
1,133,805,148
(69,231,501)
(2,551,459)
65,887,538
1,127,909,726
Total Governmental Activities
capital assets, net
$ 1,752,925,217 $
107,404,846 $
(3,312,316) $
(264,559) $
1,856,753,197
Business -type Activities:
Capital assets not depreciated:
Land and other non -depreciable assets
$ 32,909,069 $
176,464 $
$
89,847 $
33,175,380
Construction in progress
136,470,470
54,404,312
(232,404)
(45,692,071)
144,950,307
Total capital assets not depreciated
169,379,539
54,580,776
(232,404)
(45,602,224)
178,125,687
Capital assets depreciated:
Buildings
178,832,992
-
(1,397,876)
749,495
178,184,611
Improvements other than buildings
1,420,465,814
18,466,306
(4,726,411)
45,118,210
1,479,323,919
Machinery and equipment
97,640,588
7,456,191
(2,517,697)
2,850
102,581,932
Right -to -use leased buildings
726,978
-
-
726,978
Right -to -use leased equipment
158,456
(1,474)
-
156,982
Total capital assets depreciated
1,697,824,828
25,922,497
(8,643,458)
45,870,555
1,760,974,422
Less accumulated depreciation:
Buildings
108,106,089
4,748,531
(1,061,152)
15,554
111,809,022
Improvements other than buildings
640,490,484
46,229,707
(2,628,194)
(11,773)
684,080,224
Machinery and equipment
60,127,170
8,656,708
(2,382,524)
66,401,354
Right -to -use leased buildings
135,227
67,521
202,748
Right -to -use leased equipment
63,887
32,797
(1,474)
-
95,210
Total accumulated depreciation
808,922,857
59,735,264
(6,073,344)
3,781
862,588,558
Total depreciable capital assets, net
888,901,971
(33,812,767)
(2,570,114)
45,866,774
898,385,864
Total Business -type Activities
capital assets, net
$ 1,058,281,510 $
20,768,0 99 $
(2,802,518) $
264,550 $
1,076,511,551
55
NOTE 6 - CAPITAL ASSETS (Continued)
Schedule of depreciation and amortization for fiscal year 2022:
General Government
$ 8,277,754
Public Safety
25,330,048
Physical Environment
9,112,800
Transportation
36,494,021
Economic Environment
625,575
Human Services
317,837
Culture and Recreation
12,877,625
Subtotal
93,035,660
Internal Service Funds 3,743,467
Total Governmental Activities $ 96,779,127
Water and Sewer
$ 50,869,321
Solid Waste
1,691,364
EMS
2,632,783
Airport Authority
2,379,955
Mass Transit
2,161,841
Total Business -type Activities $ 59,735,264
NOTE 7 - LONG-TERM DEBT
SUMMARY OF CHANGES IN LONG-TERM OBLIGATIONS
The following is a summary of changes in long-term obligations for the year ended September 30, 2022:
Governmental Activities:
Revenue Bonds Payable
Premiums on Bonds Payable
Direct Placement Loans and Notes
Discount on Direct Placement Loan
Commercial Paper Loans
Financed Purchase Obligations
Leases Payable
Self -Insurance Claims
Compensated Absences
Total
Business -type Activities:
Revenue Bonds Payable
Premium on Bonds Payable
Direct Placement Loans and Notes
Developer Note Payable
Leases Payable
Landfill Closure Liability
Compensated Absences
Total
000's Omitted
Premium/
October 1, Discount September Due within
2021 Additions Reductions Amortized 30, 2022 one year
$ 283,130 $
$ (122,930) $ - $
160,200 $
7,630
26,726
(6,539) (1,707)
18,480
-
111,582
108,425
(10,843) -
209,164
22,605
-
(189)
4
(185)
-
-
1,000
- -
1,000
28
-
(28)
-
-
7,425
865
(981)
7,309
877
10,944
75,824
(74,885)
11,883
9,473
34,927
14,385
(12,717) -
36,595
12,677
$ 474,762 $
000,310
$ (228,923) $ (1,7031 $
444,446 $
53,262
$ 253,190 $
$ (2,055) $ - $
251,135 $
2,105
44,266
(2,102)
42,164
-
82,476
(14,852)
67,624
11,539
70
-
70
70
703
(96)
607
98
1,627
(240)
1,387
39
3,181
3,849 (2,938)
4,092
3,274
$ 385,513 $
3,849 $ (20,181) $ (2,102) $
367,079 $
17,125
56
NOTE 7 — LONG-TERM DEBT (Continued)
DESCRIPTIONS OF BONDS, LOANS AND NOTES PAYABLE
Bonds, loans and notes payable at September 30, 2022 were composed of the following:
GOVERNMENTAL ACTIVITIES
Governmental Activities Revenue Bonds
$38,680,000 2012 Gas Tax Refunding Revenue Bonds, due in annual installments of $2,700,000 to $6,605,000
through June 1, 2023; interest at 3.00% to 5.00% and collateralized by a pledge on the combined gas tax
proceeds. Bonds were issued for purposes of advance refunding the County's 2003 Gas Tax Revenue Bonds. $ 3,760,000
$62,965,000 2018 Tourist Development Tax Revenue Bonds, due in annual installments of $1,030,000 to
$3,605,000 through October 1, 2048; interest at 4.00% to 5.00% and collateralized by a pledge on tourist
development tax revenues. Bonds were issued for purposes of financing the development, acquisition,
construction and equipping of a regional tournament caliber amateur sports complex. 59,705,000
$75,100,000 2020A Special Obligation Revenue Bonds, due in annual installments of $165,000 to $6,045,000
through October 1, 2045; interest at 4.00% to 5.00% and collateralized by a pledge on legally available non -
ad valorem revenues, including but not limited to the proceeds of the local government half cent sales tax,
state revenue sharing, communications services tax and charges and services generated by governmental
activities. Bonds were issued for purposes of providing funding for the acquisition, construction and equipping
of various capital improvements and refunding a commercial paper loan. 74,935,000
$24,075,000 2020B Taxable Special Obligation Revenue Bonds, due in annual installments of $2,275,000 to
$2,920,000 through October 1, 2029; interest at 2.00% and collateralized by a pledge on legally available non -
ad valorem revenues, including but not limited to the proceeds of the local government half cent sales tax,
state revenue sharing, communications services tax and charges and services generated by governmental
activities. Bonds were issued for purposes of financing the purchase of certain real property. 21,800,000
Total Governmental Activities Revenue Bonds
Governmental Activities Direct Placement Loans
$ 160,200,000
$89,780,000 2014 Gas Tax Refunding Revenue Bond (Bank Term Loan) due in annual installments of $1,065,000
to $13,265,000 through June 1, 2025; interest at 2.33% and collateralized by a pledge on the combined gas
tax proceeds. Loan was issued to advance refund a portion of the County's 2005 Gas Tax Revenue Bonds. $ 34,685,000
$43,713,000 2017 Special Obligation Refunding Revenue Note (Bank Term Loan) due in annual installments
of $113,000 to $3,724,000 through July 1, 2034; interest at 3.09% and collateralized by a pledge on legally
available non -ad valorem revenues, including but not limited to the proceeds of the local government half
cent sales tax, state revenue sharing, communications services tax and charges and services generated by
governmental activities. Loan was issued to advance refund a portion of the County's 2010 Special Obligation
Revenue Bonds. 37,994,000
$28,060,000 2019 Taxable Special Obligation Taxable Revenue Note (Bank Term Loan) due in annual
installments of $1,555,000 to $5,165,000 through October 1, 2029; interest at 2.74% and collateralized by a
pledge on legally available non -ad valorem revenues, including but not limited to the proceeds of the local
government half cent sales tax, state revenue sharing, communications services tax and charges and services
generated by governmental activities. Loan was issued to acquire the real property known as the Golden
Gate Golf Course. 28,060,000
57
NOTE 7 — LONG-TERM DEBT (Continued)
$32,865,000 2022A Special Obligation Refunding Revenue Note (Bank Term Loan) due in annual installments
of $8,425,000 to $1,540,000 through October 1, 2029; interest at 1.43% and collateralized by a pledge on
legally available non -ad valorem revenues, including but not limited to the proceeds of the local government
half cent sales tax, state revenue sharing, communications services tax and charges and services generated
by governmental activities. Loan was issued to refund the Series 2011 Special Obligation Refunding Revenue
Bonds. 32,865,000
$75,560,000 2022E Special Obligation Refunding Revenue Note (Bank Term Loan) due in annual installments
of $8,295,000 to $570,000 through October 1, 2035; interest at 1.85% and collateralized by a pledge on legally
available non -ad valorem revenues, including but not limited to the proceeds of the local government half
cent sales tax, state revenue sharing, communications services tax and charges and services generated by
governmental activities. Loan was issued to refund the Series 2013 Special Obligation Refunding Revenue
Bonds. 75,560,000
Total Governmental Activities Direct Placement Loans
Governmental Activities Commercial Paper Loans
$ 209,164,000
$1,000,000 Commercial Paper Loan issued by the Florida Local Government Finance Commission Pooled
Commercial Paper Program due on June 1, 2027; monthly variable interest for the current fiscal year of
2.15%to 2.84%, based on the underlying commercial paper that is purchased and collateralized by all legally
available non -ad valorem revenues. Loan was issued for purposes of constructing sidewalk improvements
in the Pelican Bay Services District. $ 1,000,000
Total Governmental Activities Commercial Paper Loans
Total Governmental Activities Obligations
Unamortized Bond Premiums
Unamortized Discount on Direct Placement Loan
Governmental Activities Obligations, Net
Less Current Portion of Governmental Activities Obligations
Long -Term Portion of Governmental Activities Obligations, Net
BUSINESS -TYPE ACTIVITIES
Business -type Activities Revenue Bonds
$ 1,000,000
370,364,000
18,480,026
(185,268)
388,658,758
(30,235,000)
$ 358,423,758
$48,105,000 2016 Collier County Water and Sewer Refunding Revenue Bonds due in annual installments of
$5,035,000 to $7,090,000 through July 1, 2036; interest at 5.00% and collateralized by a lien on and a pledge
of net revenues of the Collier County Water and Sewer District (District). Bonds were issued for purposes of
currently refunding all of the District's remaining 2006 Water and Sewer Revenue Bonds. $ 48,105,000
$76,185,000 2019 Collier County Water and Sewer Revenue Bonds due in annual installments of $4,385,000
to $14,160,000 through July 1, 2039; interest at 3.00% to 5.00% and collateralized by a lien on and a pledge
of net revenues of the Collier County Water and Sewer District (District). Bonds were issued for purposes of
financing the acquisition, construction and equipping of various utility capital improvements within the Collier
County Water and Sewer District. 76,185,000
$128,900,000 2021 Collier County Water and Sewer Revenue Bonds due in annual installments of $2,055,000
to $11,300,000 through July 1, 2046; interest at 4.00% to 5.00% and collateralized by a lien on and a pledge
of net revenues of the Collier County Water and Sewer District (District). Bonds were issued for purposes of
financing the acquisition, construction and equipping of various water and wastewater improvements within
the Collier County Water and Sewer District. 126,845,000
Total Business -type Activities Revenue Bonds
$ 251,135,000
58
NOTE 7 — LONG-TERM DEBT (Continued)
Business -type Activities Direct Placement Loans
$35,965,000 2018 Collier County Water and Sewer Revenue Bond (Bank Term Loan) due in annual installments
of $1,560,000 to $3,945,000 through July 1, 2029; interest at 2.41 % and collateralized by a lien on and a pledge
of net revenues of the Collier County Water and Sewer District. Loan was issued to finance the acquisition of
water and wastewater utility facilities within the Golden Gate Community. 25,155,000
Total Business -type Activities Direct Placement Loans
Business -type Activities Note Payable
$ 25,155,000
$166,580 County Water and Sewer District agreement with private developer payable through use of sewer
impact fee credits. Non -interest bearing agreement. $ 69,848
$89,982,000 2016 County Water and Sewer District Refunding Revenue Note with Synovus Financial
Corporation, due in monthly installments of $2,881,000 to $9,574,000 through July 1, 2029; interest at 1.80%
and collateralized by a subordinated pledge on the net revenues of the Collier County Water and Sewer District.
Loan was issued to currently refund all of the District's State Revolving Fund Loans. $ 42,469,000
Total Business -type Activities Note Payable
Total Business -type Activities Obligations
Unamortized Bond Premiums
Business -type Activities Obligations, Net
Less Current Portion of Business -type Activities Obligations Payable from Unrestricted Assets
Less Current Portion of Business -type Activities Obligations Payable from Restricted Assets
Long -Term Portion of Business -type Activities Obligations, Net
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
$ 42,538,848
$ 318,828,848
$ 42,163,593
$ 360,992,441
$ (10,233,000)
(3,480,848)
$ 347,278,593
The total annual debt service requirements to maturity of long-term debt, excluding compensated absences, premiums, discounts
and arbitrage rebate liability, are as follows:
Fiscal
Year
2023
2024
2025
2026
2027
2028-32
2033-37
2038-42
2043-47
2048-52
Total
Governmental Activities
Direct Placement Loans
Revenue Bonds and Notes Payable Commercial
Loans Totals
Principal
Interest
Principal
Interest Principal
Interest
$ 7,630,000 $
6,219,900 $
22,605,000 $
4,171,106 $ $
180,000
$ 40,806,006
3,990,000
5,987,550
26,751,000
4,047,090
180,000
40,955,640
4,110,000
5,863,500
27,246,000
3,470,052
180,000
40,869,552
4,235,000
5,734,900
14,309,000
2,869,089
180,000
27,327,989
4,365,000
5,601,575
14,603,000
2,544,824 1,000,000
135,000
28,249,399
24,070,000
25,641,725
68,370,000
7,620,126 -
-
125,701,851
29,865,000
19,660,775
35,280,000
1,299,144
86,104,919
36,615,000
12,840,500
-
-
49,455,500
38,250,000
4,875,400
43,125,400
7,070,000
285,600
7,355,600
$160,200,000 $ 92, 111,425 $209, 664,000 $ 26, 221,431 $ 1, 000,000 $ 555,000 $489, 551,856
59
NOTE 7 — LONG-TERM DEBT (Continued)
Business -type Activities
Fiscal
Year
Revenue Bonds
Direct Placement Loans
and Notes Payable
Developer
Note Payable
Totals
Principal
Interest
Principal
Interest
Principal Interest
2023
$ 2,105,000
$ 10,502,681
$ 11,539,000 $
1,370,677
$ 69,848 $
$ 25,587,206
2024
2,210,000
10,397,431
11,763,000
1,141,595
-
25,512,026
2025
2,320,000
10,286,931
11,429,000
907,993
24,943,924
2026
2,435,000
10,170,931
10,103,000
679,884
23,388,815
2027
2,560,000
10,049,181
8,671,000
475,093
21,755,274
2028-32
50,380,000
45,963,157
14,119,000
415,681
110,877,838
2033-37
80,195,000
30,897,714
-
-
111,092,714
2038-42
66,270,000
14,988,150
81,258,150
2043-47
42,660,000
4,349,600
-
-
-
47,009,600
Total
$251,135,000
$147, 005,776
$ 67, 224,000 $
4, 990,923
$ 69,848 $
$471, 225,547
CURRENTYEAR FINANCING ACTIVITIES
On March 15, 2022, Collier County issued the Series 2022A Special Obligation Refunding Revenue Note (Bank Term Loan) in
the par amount of $32,865,000. This note was issued for the purpose of refunding the County's outstanding Special Obligation
Refunding Revenue Bonds, Series 2011. The final maturity of the Series 2022A Note is October 1, 2029, with an interest rate of
1.43%. The refunding achieved a net present value savings of 5.58% on the refunded bonds, an aggregate debt service savings
of $1,927,082 and an economic gain of $1,820,723. The Series 2022A Special Obligation Refunding Revenue Note was issued as
a direct placement financing, secured with a lien on parity with all outstanding Special Obligation Revenue Bonds. The refunded
Series 2011 Special Obligation Refunding Revenue Bonds had a redemption date of March 15, 2022.
On June 30, 2022, Collier County issued a $1,000,000 commercial paper loan through the Florida Local Government Finance
Commission's Pooled Commercial Paper Program. The loan was issued for purposes of sidewalk improvements in the Pelican
Bay Services Municipal Services Taxing and Benefit Unit. The loan bears monthly variable interest and is collateralized by all
legally available non -ad valorem revenues as defined in the loan agreement.
On July 6, 2022, Collier County issued the Series 2022B Special Obligation Refunding Revenue Note (Bank Term Loan) in the par
amount of $75,560,000. This note was structured as a forward purchase agreement entered into on March 15, 2022, and issued
for purposes of refunding the County's outstanding Special Obligation Refunding Revenue Bonds, Series 2013. The final maturity
of the Series 2022B Note is October 1, 2035, with an interest rate of 1.85%. The refunding achieved a net present value savings
of 14.17% on the refunded bonds, an aggregate debt service savings of $11,882,585 and an economic gain of $10,460,042. The
Series 2022B Special Obligation Refunding Revenue Note was issued as a direct placement financing, secured with a lien on
parity with all outstanding Special Obligation Revenue Bonds. The refunded Series 2013 Special Obligation Refunding Revenue
Bonds have a redemption date of October 1, 2022.
RESTRICTIVE COVENANTS
According to County resolutions authorizing the issuance of the Series 2020A and 2020B Taxable Special Obligation Refunding
Revenue Bonds and Series 2017, 2019 and 2022A and 2022B Special Obligation Refunding Revenue Notes (bank term loan),
the County has covenanted, subject to certain restrictions and limitations, to appropriate in its annual budget, by amendment if
necessary, from non -ad valorem revenues amounts sufficient to pay principal and interest on the combined Special Obligation
Bonds and Notes. The total non -ad valorem revenue collections pledged to payment of the Special Obligation Bonds and Notes
for the fiscal year ended September 30, 2022 was $168,095,843.
According to County resolutions authorizing the issuance of the Series 2012 Gas Tax Revenue Refunding Bonds and Series 2014
Gas Tax Refunding Revenue Bond (bank term loan), the issues are payable from and secured by liens on gas tax revenues. Total
pledged gas tax revenue collections for the fiscal year ended September 30, 2022 were $24,195,878.
According to County resolutions authorizing the issuance of the Series 2018 Tourist Development Tax Revenue Bonds, the issues
are payable from and secured by a lien on tourist development tax revenues. Total tourist development tax revenues for the fiscal
year ended September 30, 2022 were $47,470,485.
The County Water and Sewer District (District) has pledged future water and sewer customer revenues, net of certain operating
expenses, to repay $276,290,000 in Series 2016, 2018, 2019 and 2021 senior lien revenue bonds and direct placement loans.
Proceeds from the bonds and loans were used for the expansion of the District's water and sewer systems as well as the
NOTE 7 — LONG-TERM DEBT (Continued)
refinancing of bonds issued for purposes of rehabilitation or expansion of the District's water and sewer systems. Principal
and interest are payable through July 1, 2046, solely from the net revenues and certain other fees and charges derived from
operation of the County's Water and Sewer District (District). The pledge of net revenues by the District from the operation of the
system does not constitute a lien upon the system or any other property of the County. The resolutions authorizing the revenue
bonds include an obligation for the District to fix, establish and maintain such rates and collect such fees so as to provide in
each year net revenues, as defined in the bond resolutions, which together with system development fees (impact fees) and
special assessment proceeds (if applicable) received shall be at least 125% of the annual debt service requirements for the
bonds; provided, however, that net revenues in each fiscal year shall be adequate to pay at least 100% of the annual debt service
on the bonds. Fiscal year 2022 pledged revenues, net of operating expenses (excluding depreciation and amortization), were
$46,910,493, and $66,724,914 when system development fees were included. Principal and interest paid on the bonds during
fiscal year 2022 totaled $19,974,700, providing coverage of 235% and 334%, respectively. In addition, bond covenants require a
renewal and replacement amount equal to $300,000 in the District funds. The District was in compliance with these covenants
for the year ended September 30, 2022.
In addition, the District has a note outstanding in the amount of $42,469,000 with Synovus Financial Corporation. This note is
collateralized by a lien on pledged revenues consisting of net revenues from the operations of the County Water and Sewer System
and system development fees. The lien is subordinate in all respects to the liens placed upon pledged revenues established by
bonded and direct placement loan indebtedness. The District's note was in compliance with these covenants for the year ended
September 30, 2022.
LEGAL DEBT MARGIN
The Constitution of the State of Florida and the Florida Statutes set no legal debt limit.
LEASES PAYABLE
The County is a lessee for noncancellable leases of land, building, office space and equipment. At September 30, 2022, the
County's lease payable of $7,916,397 was composed of the following:
GOVERNMENTAL ACTIVITIES
Leases with options to purchase equipment - annual payments totaling $11,051 plus interest at rates ranging
from 0.33% to 11.75%, due dates ranging from October 1, 2022 to August 1, 2026. $ 14,636
Land leases - annual payments totaling $37,609 plus interest at rates ranging from 1.51 % to 2.40%, due dates
ranging from October 1, 2022 to July 1, 2051. 339,875
Building and office space leases - annual payments totaling $302,787 plus interest at rates ranging from 0.35%
to 2.11 %, due dates ranging from October 1, 2022 to December 11, 2039. 2,656,586
Equipment and vehicle leases - annual payments totaling $557,035 plus interest at rates ranging from 0.14%
to 3.50%, due dates ranging from October 1, 2022 to September 1, 2027. 4,297,916
Total Governmental Activities Leases Payable $ 7,309,013
BUSINESS -TYPE ACTIVITIES
Lease with option to purchase equipment - annual payments totaling $5,659 plus interest at a rate of 1.51 %,
due dates ranging from October 1, 2022 to September 1, 2023. $ 5,659
Building and office space leases - annual payments totaling $64,698 plus interest at the rate of 1.93%, due
dates ranging from October 1, 2022 to September 1, 2034. 544,276
Equipment leases - annual payments totaling $27,346 plus interest at rates ranging from 0.24% to 1.55%, due
dates ranging from October 1, 2022 to October 1, 2024. 57,449
Total Business -type Activities Leases Payable
$ 607,384
M
NOTE 7 - LONG-TERM DEBT (Continued)
The future principal and interest lease payments as of September 30, 2022, were as follows:
Governmental Activities
Business -type Activities
Fiscal Year
Principal Interest
Principal Interest
2023
$ 906,670 $
95,551 $
97,703 $
9,949
2024
806,051
85,106
94,708
8,371
2025
666,677
75,016
71,630
6,939
2026
599,770
66,436
71,706
5,723
2027
587,535
58,456
42,093
4,677
2028-2032
2,423,134
191,482
168,359
13,893
2033-2037
1,003,696
67,632
61,185
966
2038-2042
313,032
7,486
-
-
2043-2047
1,303
197
2048-2051
1,145
55
-
-
Total
$ 7,309,013 $
647,417 $
607,384 $
50,518
NOTE 8 - CONDUIT DEBT OBLIGATIONS
COMPONENT UNIT CONDUIT DEBT
The Industrial Development Authority, Housing Finance Authority, Health Facilities Authority and Educational Facilities Authority,
all component units of Collier County, issue debt instruments for the purpose of providing capital financing to independent
third parties. Industrial development revenue bonds have been issued to provide financial assistance to public entities for the
acquisition and construction of industrial and commercial facilities. Housing revenue bonds have been issued for the purpose
of financing the development of multi -family residential rental communities. The health facility revenue bonds were issued
to provide financing for the construction of health park facilities. The educational facility revenue bonds were used to provide
financing for the construction of educational facilities. These bonds were secured by the financed property, a letter of credit or
a corporate guarantee. The primary revenues pledged to pay the debt are those revenues derived from the project or facilities
constructed. Neither the issuing authority, nor the County, is obligated in any manner for repayment of the bonds and as such
they are not reported as liabilities in the accompanying financial statements.
As of September 30, 2022, the outstanding principal amount payable on all component unit conduit debt was $612,129,535 and
is made up of the following:
Industrial development revenue bonds
$ 279,981,628
Housing finance revenue bonds
76,639,537
Health facilities revenue bonds
191,323,217
Educational facilities revenue bonds
64,185,153
Total
$ 612,129,535
NOTE 9 - DEFINED BENEFIT PENSION PLANS
BACKGROUND
The Florida Retirement System (FRS) Pension Plan was created by Chapter 121, Florida Statutes, effective December 1, 1970.
The FRS is a qualified retirement plan under Section 401(a), Internal Revenue Code, created to provide a defined benefit pension
plan for participating public employees. The FRS was amended in 1998 to add the Deferred Retirement Option Program under
the defined benefit plan and amended in 2000 to provide a 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 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 County are eligible to enroll as members of the State -administered FRS. 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 FRS 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 the Florida Legislature. The FRS is a single retirement
system administered by the Florida Department of Management Services, Division of Retirement, and consists of the two cost
sharing, multiple employer defined benefit plans and other nonintegrated programs.
62
NOTE 9 — DEFINED BENEFIT PENSION PLANS (Continued)
An annual comprehensive financial report of the FRS, which includes its financial statements, required supplementary information,
actuarial report, and other relevant information, is available from the Florida Department of Management Services' web site (www.
dms.myflorida.com).
The County's pension expense totaled $45,802,506 for both the FRS Pension Plan and HIS Plan for the year ended September
30, 2022.
FLORIDA RETIREMENT SYSTEM PENSION PLAN
PLAN DESCRIPTION
The Florida Retirement System Pension Plan (FRS 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.
Elected County Officers Class — Members who hold specified elective offices in local government.
Senior Management Service Class (SMSC) — Members in senior management level positions.
Special Risk Class — Members who are special risk employees, such as law enforcement officers, meet the criteria to qualify for
this class.
Employees enrolled in the FRS Plan prior to July 1, 2011, vest at 6 years of creditable service and employees enrolled in the FRS
Plan on or after July 1, 2011, vest at 8 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 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 FRS 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. Employees enrolled in the FRS Plan may include up to 4 years of credit for military service toward creditable
service. The FRS 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 FRS Plan provides retirement, disability, death benefits, and annual cost -of -
living adjustments to eligible participants.
DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for normal retirement under the FRS
Plan to defer receipt of monthly benefit payments while continuing employment with an FRS participating employer. An employee
may participate in DROP for a period not to exceed 60 months after electing to participate, except that certain instructional
personnel may participate for up to 96 months. 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 FRS Plan are computed on the basis of age and/or years of service, average final compensation, and service
credit. 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 5 highest fiscal years' earnings; for members
initially enrolled on or after July 1, 2011, the average final compensation is the average of the 8 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
the retirement 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.
Sig
NOTE 9 — DEFINED BENEFIT PENSION PLANS (Continued)
The following chart shows the percentage value for each year of service credit earned:
Class, Initial Enrollment and Retirement Age/Years of Service:
% Value
(per year of
service)
Regular Class 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 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
Elected County Officers' Class
3.00
Senior Management Service Class
2.00
Special Risk Class
Service from December 1, 1970 through September 30, 1974
2.00
Service on and after October 1, 1974
3.00
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. FRS 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. Effective July 1, 2011, all
FRS Plan members (except those in DROP) are required to make 3% employee contributions on a pretax basis. The employer
contribution rates by job class for the periods from October 1, 2021 through June 30, 2022 and from July 1, 2022 through
September 30, 2022, respectively, were as follows: Regular employees — 10.82% and 11.91 %1- Special Risk — Regular-25.89% and
27.83%; County Elected Officials — 51.42% and 57.00%1- Senior Management Services — 29.01 % and 31.57%; and DROP participants
— 18.34% and 18.60%. The County's contributions to the FRS Plan were $35,022,631 for the year ended September 30, 2022.
PENSION COSTS
At September 30, 2022, the County reported a liability of $292,121,565 for its proportionate share of the FRS Plan's net pension
liability. The net pension liability was measured as of June 30, 2022, and the total pension liability used to calculate the net
pension liability was determined by an actuarial valuation as of July 1, 2022. The County's proportion of the net pension liability
was based on the County's contributions received by FRS during the measurement period for employer payroll paid dates from
July 1, 2021, through June 30, 2022, relative to the total employer contributions received from all of FRS's participating employers.
At June 30, 2022, the County's proportion was 0.785103%, which was an increase of 0.014800% from its proportion measured
as of June 30, 2021.
64
NOTE 9 — DEFINED BENEFIT PENSION PLANS (Continued)
For the year ended September 30, 2022, the County recognized pension expense of $41,190,307 for its proportionate share of
FRS's pension expense. In addition, the County reported its proportionate share of FRS's deferred outflows of resources and
deferred inflows of resources from the following sources:
Description
Differences Between Expected and Actual Economic Experience
Changes in Actuarial Assumptions
Net Difference Between Projected and Actual Earnings on Pension Plan
Investments
Changes in Proportion and Differences Between County Contributions and
Proportionate Share of Contributions
County Contributions Subsequent to the Measurement Date
Total
Deferred Deferred
Outflows of Inflows of
Resources Resources
$ 13,874,087 $
35,975,992
19,288,750
8,003,409 10,017,350
9,952,699
$ 87,094,937 $ 10,017,350
Deferred outflows of resources related to pensions of $9,952,699, resulting from County contributions to the FRS Plan subsequent
to the measurement date, will be recognized as a reduction of the net pension liability in the year ended September 30, 2023.
Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized as increases or
decreases in pension expense as follows:
Year Ending
September 30
Amount
2023
$ 16,219,311
2024
5,445,260
2025
(6,457,550)
2026
48,921, 508
2027
2,996,359
ACTUARIAL ASSUMPTIONS
The total pension liability in the July 1, 2022, actuarial valuation was determined using the following actuarial assumptions,
applied to all periods included in the measurement:
Inflation 2.40% per year
Salary Increases 3.25%, including inflation
Investment Rate of Return 6.70%, Net of Pension Plan investment expense
Mortality rates were based on the PUB-2010 base table projected generationally with Scale MP-2018. The actuarial assumptions
used in the July 1, 2022 valuation were based on the results of an actuarial experience study for the period July 1, 2013, through
June 30, 2018.
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.
NOTE 9 — DEFINED BENEFIT PENSION PLANS (Continued)
The target allocation, as outlined in the FRS Plan's investment policy, and best estimates of arithmetic and geometric real rates
of return for each major asset class are summarized in the following table:
Asset Class
Target
Allocation
Annual
Arithmetic
Return
Compound
Annual
(Geometric)
Return
Standard
Deviation
Cash
1.0%
2.6%
2.6%
1.1 %
Fixed income
19.8%
4.4%
4.4%
3.2%
Global equity
54.0%
8.8%
7.3%
17.8%
Real estate (property)
10.3%
7.4%
6.3%
15.7%
Private equity
11.1 %
12.0%
8.9%
26.3%
Strategic investments
3.8%
6.2%
5.9%
7.8%
Totals
100.0%
Assumed Inflation - Mean
2.4%
1.3%
DISCOUNT RATE
The discount rate used to measure the total pension liability for the FRS Plan in fiscal year 2022 was 6.70% which was .10% lower
than in fiscal year 2021. The projection of cash flows used to determine the discount rate assumed that employee and employer
contributions will be made at the rate specified in statute. Based on that assumption, the pension 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 long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to
determine the total pension liability.
PENSION LIABILITY SENSITIVITY
The following presents the County's proportionate share of the net pension liability for the FRS Plan, calculated using the discount
rate disclosed in the preceding paragraph, as well as what the County's proportionate share of the net pension liability would be if
it were calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate:
1 % Decrease in Current Discount 1 % Increase in
Description Discount Rate Rate Discount Rate
FRS Plan Discount Rate
County's Proportionate Share of the FRS Plan
Net Pension Liability
PENSION PLAN FIDUCIARY NET POSITION
5.70% 6.70% 7.70%
505,204,160 $ 292,121,565 $ 113,959,160
Detailed information about the FRS Plan's fiduciary net position is available in a separately -issued FRS Pension Plan and Other
State -Administered Systems Annual Comprehensive Financial Report. That report may be obtained through the Florida Department
of Management Services website at www.dms.myflorida.com.
RETIREE HEALTH INSURANCE SUBSIDY PROGRAM
PLAN DESCRIPTION
The Retiree Health Insurance Subsidy Program (HIS Plan) is a non -qualified, cost -sharing multiple -employer defined benefit
pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida Legislature at any time.
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 Florida Department of Management Services, Division of Retirement.
BENEFITS PROVIDED
For the fiscal year ended June 30, 2022, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year
of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment
of $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 may include Medicare.
NOTE 9 — DEFINED BENEFIT PENSION PLANS (Continued)
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. The FRS contribution rates include a 1.66%
HIS Plan subsidy for the periods October 1, 2021 through June 30, 2022 and from July 1, 2022 through September 30, 2022,
pursuant to Section 112.363, Florida Statutes. The County contributed 100 percent of its statutorily required contributions for
the current and preceding 3 years. HIS Plan contributions are deposited in a separate trust fund from which 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 canceled. The
County's contributions to the HIS Plan were $4,341,241 for the year ended September 30, 2022.
PENSION COSTS
At September 30, 2022, the County reported a liability of $73,439,084 for its proportionate share of the HIS Plan's net pension
liability. The net pension liability was measured as of June 30, 2022, and the total pension liability used to calculate the net pension
liability was determined by an actuarial valuation as of July 1, 2022. The projected HIS benefits to be paid out in the next fiscal year
exceed the fiduciary net position of the HIS Plan as of the end of the fiscal year. As such, the County has reported its proportion
of the excess of the projected benefit payment over the fiduciary net position as a current liability. The County's proportion of
the net pension liability was based on the County's contributions received during the measurement period for employer payroll
paid dates from July 1, 2021, through June 30, 2022, relative to the total employer contributions received from all participating
employers. At June 30, 2022, the County's proportion was 0.693371 %, which was an increase of 0.010650% from its proportion
measured as of June 30, 2022.
For the year ended September 30, 2022, the County recognized pension expense of $4,612,199 for its proportionate share of HIS's
pension expense. In addition, the County reported its proportionate share of HIS's deferred outflows of resources and deferred
inflows of resources from the following sources:
Description
Differences Between Expected and Actual Economic Experience
Changes in Actuarial Assumptions
Net Difference Between Projected and Actual Earnings on HIS Program
Investments
Changes in Proportion and Differences Between County Contributions and
Proportionate Share of Contributions
County Contributions Subsequent to the Measurement Date
Total
Deferred Outflows
of Resources
$ 2,229,050
4,209,575
106,324
3,191,919
1,204,763
Deferred Inflows of
Resources
$ 323,138
11,360,980
1,286,401
$ 10,941,631 $ 12,970,519
Deferred outflows of resources related to pensions of $1,204,763, resulting from County contributions to the HIS Plan subsequent
to the measurement date, will be recognized as a reduction of the net pension liability in the year ended September 30, 2023.
Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized as a decrease in
pension expense as follows:
Year Ending
September 30
Amount
2023
$ (499,410)
2024
(155,446)
2025
(127,086)
2026
(483,372)
2027
(1,333,634)
Thereafter
(634,703)
M
NOTE 9 — DEFINED BENEFIT PENSION PLANS (Continued)
ACTUARIAL ASSUMPTIONS
The total pension liability in the July 1, 2022, actuarial valuation was determined using the following actuarial assumptions,
applied to all periods included in the measurement:
Inflation 2.40% per year
Salary Increases 3.25%, including inflation
Municipal Bond Rate 3.54%
Mortality rates were based on the PUB-2010 base table projected generationally with Scale MP-2018. The actuarial assumptions
used in the July 1, 2022 valuation were based on the results of an actuarial experience study for the period July 1, 2013, through
June 30, 2018.
DISCOUNT RATE
The discount rate used to measure the total pension liability for HIS plan increased from 2.16% in fiscal year 2021 to 3.54% in
fiscal year 2022. In general, the discount rate for calculating the total pension 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 HIS Plan sponsor. The Bond Buyer General Obligation 20-Bond
Municipal Bond Index was adopted as the applicable municipal bond index.
PENSION LIABILITY SENSITIVITY
The following presents the County's proportionate share of the net pension liability for the HIS Plan, calculated using the discount
rate disclosed in the preceding paragraph, as well as what the County's proportionate share of the net pension liability would be if
it were calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate:
Description
HIS Plan Discount Rate
County's Proportionate Share of the HIS Plan
Net Pension Liability
PENSION PLAN FIDUCIARY NET POSITION
1 % Decrease in
Discount Rate
2.54%
84,020,342 $
Current
Discount Rate
3.54%
73,439,084 $
1 % Increase in
Discount Rate
4.54%
64,683,311
Detailed information about the HIS Plan's fiduciary's net position is available in a separately -issued FRS Pension Plan and Other
State -Administered Systems Annual Comprehensive Financial Report. That report may be obtained through the Florida Department
of Management Services website at www.dms.myflorida.com.
SUMMARY
The aggregate amount of net pension liability, related deferred outflows of resources and deferred inflows of resources and
pension expense for the County's defined benefit pension plans are summarized below:
FRS Plan HIS Plan Total
Net pension liability $ 292,121,565 $ 73,439,084 $ 365,560,649
Deferred outflows of resources related to pensions 87,094,937 10,941,631 98,036,568
Deferred inflows of resources related to pensions 10,017,350 12,970,519 22,987,869
Pension expense 41,190,307 4,612,199 45,802,506
.:
The Florida State Board of Administration (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
Annual Comprehensive 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. County 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 are directed to
individual member accounts, and the individual members allocate contributions and account balances among various approved
investment choices. Costs of administering the plan, including the FRS Financial Guidance Program, are funded through an
employer contribution of .06% of payroll from July 1, 2021 to June 30, 2022 and .06% of payroll from July 1, 2022 to June 30,
2023 in addition to forfeited benefits of plan members. The County's Investment Plan pension expense totaled $7,233,585 for
the year ended September 30, 2022.
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. Non -vested 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
June 30, 2022, 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 County.
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.
At
NOTE 11 —TRANSFERS
Transfers between funds were used to (1) move revenues from the fund that statute or budget requires they be collected in
to the fund that statute or budget requires they be expended from, (2) account for payments in lieu of taxes not based on an
approximation of services rendered, (3) move receipts restricted to debt service to the debt service fund as payments become
due and (4) use unrestricted revenues collected in the General Fund to finance operating and capital programs accounted for in
other funds in accordance with budgetary authorizations.
Transfers for the year ended September 30, 2022 were as follows:
Transfers from Fund
Governmental Activities:
Transfers to Fund
General Fund Grants and Shared Revenue
Nonmajor Governmental Funds
County Water and Sewer
Emergency Medical Services
Nonmajor Business -type
Internal Service Funds
Bayshore Gateway Community Redevelopment Agency General Fund
Immokalee Community Redevelopment Agency
Grants and Shared Revenues
Nonmajor Governmental Funds
Business -type Activities:
County Water and Sewer
Solid Waste Disposal
Emergency Medical Services
Nonmajor Business -type
Internal Service Funds
Total Transfers
General Fund
Bayshore Gateway Community Redevelopment Agency
Nonmajor Governmental Funds
Amount
902,738
89,975,925
436
21,369,500
5,951,764
700,000
53,800
53,800
74,100
19,600
General Fund 12,208,108
Bayshore Gateway Community Redevelopment Agency 136,800
Immokalee Community Redevelopment Agency 92,800
Grants and Shared Revenue 1,404,401
Nonmajor Governmental Funds 67,869,105
County Water and Sewer 21,000
General Fund 9,913,507
Nonmajor Governmental Funds 1,275,900
Solid Waste Disposal 496,500
Internal Service Funds 28,300
General Fund 596,216
Internal Service Funds 5,100
Internal Service Funds 7,800
Nonmajor Governmental Funds 135,900
General Fund 76,600
Nonmajor Governmental Funds 413,600
$ 213,783,300
NOTE 12 — NET POSITION/FUND BALANCE CLASSIFICATION
Net position represents the difference between total assets plus deferred outflows of resources and liabilities plus deferred
inflows of resources and is categorized as follows:
Net investment in capital assets: Total capital assets, net of debt issued and deferred amounts on refundings related to the
acquisition of these assets and net of depreciation is reported separately in the net position section.
Restricted for growth related capital expansion: Impact fees are restricted for growth related capital expansion.
Restricted for transportation capital projects: Gas taxes and other revenues restricted for transportation capital improvements.
Restricted for community development: Building and permitting fees restricted for licensing, permitting and inspection
services.
70
NOTE 12 — NET POSITION/FUND BALANCE CLASSIFICATION (Continued)
Restricted for tourist development: Tourist development tax proceeds are restricted for tourist related activities.
Restricted for Conservation Collier: Balances generated by the former levy of one quarter mill of ad valorem revenues restricted
for the maintenance and management of environmentally sensitive land.
Restricted for community redevelopment: Tax increment revenues generated in the redevelopment areas are restricted for
redevelopment purposes.
Restricted for infrastructure sales tax capital projects: Infrastructure sales tax proceeds are restricted for infrastructural
capital improvements.
Restricted for grants: State and federal government grant monies restricted for grant related purposes.
Restricted for debt service: Balances are restricted in conjunction with the issuance of bonds and have been funded by
operating transfers from the appropriate funds. The use of monies in the sinking fund is restricted to the payment of principal
and interest on long-term debt.
Restricted for court programs: Balances are restricted for court programs.
Restricted for public safety: Balances are restricted for public safety programs.
Restricted for nonexpendable purposes — other: Balances are restricted in conjunction with the maintenance and management
of certain conservation lands for mitigation purposes.
Restricted for special revenues — other: Balances are restricted for specific uses associated with the revenue collected.
Restricted for renewal and replacement: Balance is restricted in conjunction with the issuance of County Water and Sewer
District Bonds for use in funding the cost of additions, replacement or major repair of District capital assets.
Unrestricted: Balances are not restricted for specific purposes.
Governmental funds report fund balances as either spendable or non -spendable as follows:
Non -spendable fund balance: Amounts that are not in spendable form or that are legally or contractually required to be maintained
intact. Items that are not spendable also include inventories, prepaid amounts and long term portions of advances, loans and
notes receivable.
Spendable fund balance:
Restricted fund balance — Amounts that can be spent only for specific purposes through restrictions placed upon them by
external resource providers such as creditors, grantors or contributors; or imposed by law through constitutional provisions
or enabling legislation.
Committed fund balance — Amounts that can be spent only for specific purposes determined by the County's highest decision
making authority, the Board of County Commissioners, via ordinance. Commitments may be modified or removed by the
Board of County Commissioners only by amending the ordinance that created the original commitment.
Assigned fund balance — Amounts that are intended to be spent for specific purposes as determined by the Board of County
Commissioners, but that are neither restricted nor committed to the specific purpose.
Unassigned fund balance — Unassigned fund balance is the residual classification for the County's general fund. Amounts
in this classification are spendable but have not been deemed restricted, committed or assigned. Unassigned fund balance
may also include negative balances for any governmental fund whose expenditures have exceeded the amounts restricted,
committed or assigned for those specific purposes.
When both restricted and unrestricted amounts are available, the County spends the restricted amounts first, unless prohibited
by law, grant agreements or other contractual arrangement. Further, when committed fund balance is available the County will
use it first, followed by assigned fund balance and then unassigned fund balance for purposes in which any of the unrestricted
fund balance classifications could be used.
71
NOTE 12 — NET POSITION/FUND BALANCE CLASSIFICATION (Continued)
A detailed schedule of fund balances at September 30, 2022 is as follows:
Bayshore
Gateway
Immokalee
Community
Community Grants and Other Total
General Redevelopment
Redevelopment Shared Infrastructure Governmental Governmental
Fund Agency
Agency Revenue Sales Tax Funds Funds
Nonspendable:
Endowments $ - $ $ $ $ $ 5,522,800 $ 5,522,800
Inventory 894,057 1,470,752 2,364,809
Advances to other funds 268,100 - 268,100
Notes 1,492,848 1,492,848
Prepaid costs 1,155,499 1,155,499
Total nonspendable fund balance 3,810,504 6,993,552 10,804,056
Restricted for:
Community redevelopment $
Federal and state grants
Infrastructure sales tax capital projects
Bond covenants or debt service
Transportation growth related capital
Parks growth related capital expansion
Parks and recreation
Transportation capital projects
Community development
Transportation operations
Tourist development
Conservation Collier
Special districts
Emergency 911 growth related capital
expansion
Law enforcement growth related
capital expansion
General government facilities growth
related capital expansion
Water management
Libraries
Court functions
Public records modernization
Other purposes
Total restricted fund balance
- $ 11,454,560 $ 1,795,525 $ - $ - $ - $ 13,250,085
196,863 - - 7,773,716 - 5,414,270 13,384,849
- - 272,703,551 - 272,703,551
- 5,866,483 5,866,483
111,938,706 111,938,706
49,135,437 49,135,437
12,795,279 12,795,279
50,354,261 50,354,261
40,168,716 40,168,716
1,724,533 1,724,533
118, 004,455 118, 004,455
47,333,796 47,333,796
673,373 673,373
1,708,097 1,708,097
9,979,494 9,979,494
3,914,124
3,914,124
47,572,070
47,572,070
563,946
563,946
10,240,636
10,240,636
8,549,411
8,549,411
2,733,183
2,733,183
196,863 11,454,560 1,795,525 7,773,716 272,703,551 528,670,270
822,594,485
Committed for:
Special districts
36,612,162
36,612,162
Natural resource management
3,565,357
3,565,357
Utility regulation
1,125,803
1,125,803
Economic development
5,293,751
5,293,751
Other purposes
1,834,797
1,834,797
Total committed fund balance
48,431,870
48,431,870
Assigned for
Parks and recreation
14,151,109
14,151,109
General building & improvements
52,147,383
52,147,383
Water management
-
28,329,110
28,329,110
Subsequent year budget
32,694,000
-
32,694,000
Other purposes
2,549,467
15,852,988
18,402,455
Total assigned fund balance
35,243,467
110,480,590
145,724,057
Unassigned:
114,549,101
(1,636,065)
112,913,036
Total Fund Balances
$ 153,799,935 $
11,454,560 $ 1,795,525 $ 7,773,716 $ 272,703,551 $ 692,940,217 $
1,140,467,504
72
NOTE 13 — RISK MANAGEMENT
The County is exposed to various risks of loss related to tort; theft of, damage to and destruction of assets; errors and omissions;
injuries to employees and natural disasters. A self-insurance internal service fund is maintained by the County to administer
insurance activities relating to workers' compensation, health and property and casualty, which covers general, property, auto,
public official and crime liabilities. The County self-insurance program covers operations of the Board and the constitutional
officers, except for the Sheriff. Under these programs, the self-insurance fund provides coverage up to a maximum amount for
each claim. The County purchases commercial insurance for claims in excess of coverage provided by the self-insurance fund
and for all other covered risks of loss.
Claim Type
Property and casualty claims
Auto liability claims
Employee health claims
Workers' compensation claims
County's Coverage
$50,000 - $500,000
($250,000 named storm deductible;
3% deductible of reported values
per damaged building; subject to
$5,000,000 deductible cap)
$300,000
$1,000,000
$500,000
Excess Carrier's Coverage
50,000 - $75,000,000
$300,001 - $5,000,000
$1,000,001 - Unlimited
$500,001 - Statutory
Settled claims have not exceeded the insurance provided by third party carriers in any of the past three years. All divisions of the
County, excluding the Sheriff, participate in this program. Charges to operating departments are based upon amounts believed
by management to meet the required annual payouts during the fiscal year and to pay for the estimated operating costs of the
programs. For the fiscal year ended September 30, 2022 the operating departments were charged $49,419,915 for workers'
compensation, health and property and casualty self-insurance programs.
The claims loss reserve for workers' compensation, health and property and casualty of $8,418,046 reported at September
30, 2022 was calculated by third party actuaries based upon GASB Statement No. 30, Risk Financing Omnibus, which requires
that a liability for claims be reported when it is probable that a loss has been incurred and the amount of that loss can be
reasonably estimated. The estimated liabilities for unpaid losses related to workers' compensation and property and casualty
were discounted at 3.0%. It should be noted that the discount rate is an estimate based on the expected rate of return over
extended periods. The estimated liabilities for unpaid losses related to health were not discounted as their turnover period is
much shorter. Claims loss reserves of $6,007,974 are recorded as current liabilities.
The Sheriff participates in the Statewide Florida Sheriff's Self -Insurance Fund for its professional liability insurance. The fund is
managed by representatives of the participating Sheriff offices and provides professional liability insurance to participating Sheriff
agencies. The Florida Sheriff's Self -Insurance Fund provides liability insurance coverage subject to the following limitations:
$5,000,000 for any one incident or occurrence and $10,000,000 for an annual aggregate per member.
The Sheriff also participates in the Statewide Florida Sheriff's Self -Insurance Fund program for workers' compensation coverage.
The Florida Sheriff's Association Workers' Compensation Insurance Trust (FSAWIT) is a limited self-insurance fund providing
coverage for the first $1,00,000 of every claim. Re -insurance is provided through a third party insurer for all claims exceeding
$1,00,000 up to $18,000,000.
Settled claims have not exceeded the insurance provided by third party carriers in any of the past three years.
Premiums charged to participating Sheriffs are based upon amounts believed by Fund management to meet the estimated annual
payouts during the fiscal year and to pay for the estimated operating costs of the program. All liabilities associated with these
self -insured risks are reported in the basic financial statements of the Statewide Florida Sheriff's Self -Insurance Fund. The Sheriff
cannot be additionally assessed for claims paid by the program.
The Sheriff has also established a self -funded employee health plan. An internal service fund is used to account for the activities
of the plan. Excess coverage has been purchased which provides specific claim excess coverage for any one incident exceeding
$200,000. In 2022, there was one covered individual who had higher deductible amounts because of a history of high claims. This
individual had a deductible of $700,000. Specific claim excess coverage for this individual was for claims exceeding $700,000.
The maximum annual individual stop loss payment amount is unlimited. Payments to the internal service fund are based on
actuarial estimates of amounts needed to pay prior year and current year claims including claims incurred but not yet reported.
The claims loss reserve for health of $3,465,000 reported at September 30, 2022 was calculated by third party actuaries based
upon GASB Statement No. 30, Risk Financing Omnibus, which requires that a liability for claims be reported when it is probable
that a loss has been incurred and the amount of that loss can be reasonably estimated. The entire Sheriff's health claim loss
reserve is recorded as a current liability.
73
NOTE 13 — RISK MANAGEMENT (Continued)
CHANGES IN SELF-INSURANCE CLAIMS PAYABLE
Changes in the self-insurance claims payable for fiscal years 2021 and 2022 were as follows for the County and Sheriff self-
insurance programs:
Balance at September 30, 2020
Current year claims incurred and
changes in estimates
Claim payments
Balance at September 30, 2021
Current year claims incurred and
changes in estimates
Claim payments
Balance at September 30, 2022
NOTE 14 — LANDFILL LIABILITY
Property and Group Workers'
Casualty Health Compensation Total
$ 2,009,827 $ 7,340,000 $ 1,014,530 $ 10,364,357
2,271,313 75,263,626 632,799 78,167,738
(2,978,144) (74,070,626) (538,916) (77,587,686)
1,302,996 8,533,000 1,108,413 10,944,409
1,727,189 73,562,873 533,376 75,823,438
(1 699,0121 (72,646,873) (538,916) (74,884,801)
$ 1,331,173 $ 9,449,000 $ 1,102,873 $ 11,883,046
On May 1, 1995, the County entered into a landfill operating agreement with a third party for the County's landfill operations.
Under the contract, the third party is responsible for the daily operations, regulatory compliance, closure, postclosure and financial
assurance requirements of the active cells within the Naples and Immokalee landfill sites. Collier County is responsible for
the postclosure costs relating to portions of the Naples and Immokalee landfill sites. None of the cells that Collier County is
responsible for has accepted waste since December 1989. The County is also responsible for staffing and operating the scale
house at each site.
In accordance with U.S. Environmental Protection Agency rule Solid Waste Disposal and Facility Criteria and GASB Statement No.
18, Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care Costs, a liability has been established representing
amounts estimated to be spent on postclosure relating to cells for which Collier County is responsible. The County's estimated
liability in connection with the landfills is included in the proprietary funds statement of net position. The landfill liability will be
reassessed on an annual basis, and any changes due to inflation, changes in contract terms, changes in technology or additional
postclosure care requirements will be recorded as a current cost.
NOTE 15 — OTHER POSTEMPLOYMENT BENEFITS
COUNTY'S PLAN DESCRIPTION AND BENEFITS PROVIDED
The County provides post employment healthcare benefits for retirees through a single employer defined benefit plan (County's
OPEB Plan) and can amend the benefits provisions. The participants of this plan include retirees of the Board of County
Commissioners, the Clerk of the Circuit Court and Comptroller, the Property Appraiser, the Tax Collector and the Supervisor of
Elections. The Sheriff also provides post employment healthcare benefits under a separate plan. In accordance with Florida
Statute 112.0801, employees who retire and immediately begin receiving benefits from the FRS have the option of paying
premiums to continue in the County's health insurance plan at the same group rate as for active employees.
The Board of County Commissioners and the Tax Collector also subsidize the cost of the post employment healthcare for
qualifying retirees and each has the authority to amend benefit provisions. The Board of County Commissioners offers a subsidy
for its retirees who have at least 60% of eligible accrued sick leave remaining at the time of retirement and have completed 15
years of continuous service with the Board. In addition, the retiree must retire from the Board, be at least 55 years of age or have
completed 30 years of service under the Florida Retirement System (FRS) and be eligible to receive an FRS benefit with no break
in time. Such employees are eligible to receive a 50% to 100% subsidy toward the cost of coverage under the active plan. A
subsidy is currently provided to 21 retirees. The Tax Collector offers a subsidy of 100% of the cost of health care for employees
with 10 years of service, between the ages of 54 and 64 and who exchange 800 hours of sick leave at retirement for employees
hired prior to June 1, 2015. A subsidy is currently provided to 4 retirees.
The County's OPEB Plan is currently being funded on a pay as you go basis. No trust fund has been established for the plan. The
plan does not issue a separate financial report.
74
NOTE 15 — OTHER POSTEMPLOYMENT BENEFITS (Continued)
PARTICIPANT DATA
As of September 30, 2022, the following employees were covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits 84
Active employees 2,441
Total employees 2,525
TOTAL OPEB LIABILITY
The County's total OPEB liability of $8,241,808 was measured as of September 30, 2022 and was determined by an actuarial
valuation as of October 1, 2022. The following table shows the changes in the County's total OPEB liability for the year ended
September 30, 2022.
Total OPEB
Liability
Balance, as of October 1, 2021
$ 9,500,959
Changes:
Service cost
673,684
Interest on total OPEB liability
148,910
Changes in assumptions or other inputs
(1,587,234)
Benefit payments
(494,511)
Net changes
(1,259,151)
Balance, as of September 30, 2022
$ 8, 441,808
OPEB LIABILITY DISCOUNT RATE SENSITIVITY
The following presents the County's total OPEB liability, as well as what the County's total OPEB liability would be if it were
calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate:
1 % Decrease in
Current 1 % Increase in
Description Discount Rate
Discount Rate Discount Rate
OPEB Plan Discount Rate 2.90%
3.90% 4.90%
Total OPEB Liability $ 8,975,638
$ 8,241,808 $ 7,580,787
OPEB LIABILITY HEALTHCARE TREND RATE SENSITIVITY
The following presents the County's total OPEB liability, as well as what the County's total OPEB liability would be if it were
calculated using a healthcare trend rate one percentage point lower or one percentage point higher than the current healthcare
trend rate:
1 % Decrease in
1 % Increase in
Healthcare Cost
Healthcare Cost
Healthcare Cost
Description
Trend Rate
Trend Rate
Trend Rate
Healthcare Cost Trend Rate
4.00%
5.00%
6.00%
Total OPEB Liability
$ 7,371,294
$ 8,241,808
$ 9,254,989
75
NOTE 15 — OTHER POSTEMPLOYMENT BENEFITS (Continued)
DEFERRED OUTFLOWS AND INFLOWS OF RESOURCES RELATED TO OPEB
For the year ended September 30, 2022, the County's OPEB expense was $821,062. In addition, the County reported deferred
outflows of resources and deferred inflows of resources from the following sources:
Deferred
Outflows of Deferred Inflows
Description Resources of Resources
Differences Between Expected and Actual Economic Experience $ - $ 2,180,993
Changes in assumptions 481,564 6,446
Total $ 481, 664 $ 2,187,439
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized over
4.45 years as a decrase in OPEB expense as follows:
Year Ending
September 30
Amount
2023
$ (310,386)
2024
(365,990)
2025
(445,287)
2026
(423,705)
Thereafter
(160,507)
ACTUARIAL METHODS AND ASSUMPTIONS
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability
of occurrence of events far into the future. Examples include assumptions about future employment, mortality and the healthcare
cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are
subject to continual revision as actual results are compared with past expectations and new estimates are made about the future.
Calculations for financial reporting purposes are based on the benefits provided under terms of the plan as understood by the
employer and the plan members in effect at the time of each valuation and on the pattern of sharing of costs between the employer
and plan members to that point. The projection of benefits for financial reporting purposes does not explicitly incorporate the
potential effects of legal or contractual funding limitations on the pattern of cost sharing between the employer and plan members
in the future. Actuarial calculations reflect a long-term perspective. Consistent with that perspective, actuarial 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.
The actuarial methods are:
Actuarial cost method Entry Age Actuarial
The actuarial assumptions are:
Discount rate
3.9% (Based on the 20 year AA municipal bond rate)
Healthcare cost trend rate
5%
Salary increase
3%
New employees
None
The discount rate was changed from 1.5% to 3.9% based on the 20 year AA municipal bond rate.
Mortality rates were based on the Pri-2012 Mortality Fully Generational using Projection Scale MP-2021.
Since the most recent valuation, the following changes have been made:
The discount rate was changed from 1.5% to 3.9%.
SHERIFF'S PLAN DESCRIPTION AND BENEFITS PROVIDED
The Sheriff provides post employment healthcare benefits for retirees through a single employer defined benefit plan (Sheriff's
OPEB Plan) and can amend the benefit provisions. In accordance with Florida Statute 112.0801, employees who retire and
immediately begin receiving benefits from the FRS have the option of paying premiums to continue in the Sheriff's health insurance
plan at the same group rate as for active employees.
76
NOTE 15 — OTHER POSTEMPLOYMENT BENEFITS (Continued)
Prior to 2010, the Sheriff subsidized approximately 26% of the cost for both single and family healthcare for its retirees who have
6 years of creditable service with the Sheriff and who receive a monthly retirement benefit from the Florida Retirement System.
Approximately 22% of retirees receive the subsidy.
The Sheriff's OPEB Plan is currently being funded on a pay as you go basis. No trust fund has been established for the plan. The
plan does not issue a separate financial report.
PARTICIPANT DATA
As of September 30, 2022, the following employees were covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits 150
Active employees 1,156
Total employees 1,306
TOTAL OPEB LIABILITY
The Sheriff's total OPEB liability of $33,128,024 was measured as of September 30, 2022 and was determined by an actuarial
valuation as of October 1, 2021. The following table shows the changes in the Sheriff's total OPEB liability for the year ended
September 30, 2022.
Total OPEB
Liability
Balance, as of October 1, 2021 $ 28,169,914
Changes
Service cost 734,513
Interest on total OPEB liability 422,604
Differences between expected and actual experience 10,708,734
Changes in assumptions or other inputs (5,446,075)
Benefit payments (1,461,666)
Net changes 4,958,110
Balance, as of September 30, 2022 $ 33,128,024
OPEB LIABILITY DISCOUNT RATE SENSITIVITY
The following presents the Sheriff's total OPEB liability, as well as what the Sheriff's total OPEB liability would be if it were
calculated using a discount rate one percentage point lower or one percentage point higher than the current discount rate:
1 % Decrease in Current Discount 1 % Increase in
Description Discount Rate Rate Discount Rate
OPEB Plan Discount Rate 2.30% 3.30% 4.30%
Total OPEB Liability $ 35,957,136 $ 33,128,024 $ 30,635,138
OPEB LIABILITY HEALTHCARE TREND RATE SENSITIVITY
The following presents the Sheriff's total OPEB liability, as well as what the Sheriff's total OPEB liability would be if it were
calculated using a healthcare trend rate one percentage point lower or one percentage point higher than the current healthcare
trend rate:
1 % Decrease in
1 % Increase in
Healthcare Cost
Healthcare Cost
Healthcare Cost
Description
Trend Rate
Trend Rate
Trend Rate
Healthcare Cost Trend Rate
4.00%
5.00%
6.00%
Total OPEB Liability
$ 30,546,087
$ 33,128,024
$ 36,080,227
77
NOTE 15 — OTHER POSTEMPLOYMENT BENEFITS (Continued)
DEFERRED OUTFLOWS AND INFLOWS OF RESOURCES RELATED TO OPEB
For the year ended September 30, 2022, the Sheriff's OPEB expense was $2,557,152. In addition, the Sheriff reported deferred
outflows of resources and deferred inflows of resources from the following sources:
Deferred
Outflows of Deferred Inflows
Description Resources of Resources
Differences Between Expected and Actual Economic Experience $ 15,409,795 $ 26,809
Changes in assumptions 2,282,175 5,843,531
Total $ 17,691,970 $ 5,870,340
Amounts reported as deferred inflows and outflows of resources related to OPEB will be recognized over 6.85 years as an
increase in OPEB expense:
Deferred
Year Ending
Outflows of
September 30
Resources
2023
$ 2,168,307
2024
2,168,307
2025
2,175,577
2026
2,046,602
2027
1,730,488
Thereafter
1,532,349
ACTUARIAL METHODS AND ASSUMPTIONS
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability
of occurrence of events far into the future. Examples include assumptions about future employment, mortality and the healthcare
cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are
subject to continual revision as actual results are compared with past expectations and new estimates are made about the future.
Calculations for financial reporting purposes are based on the benefits provided under terms of the plan as understood by the
employer and the plan members in effect at the time of each valuation and on the pattern of sharing of costs between the employer
and plan members to that point. The projection of benefits for financial reporting purposes does not explicitly incorporate the
potential effects of legal or contractual funding limitations on the pattern of cost sharing between the employer and plan members
in the future. Actuarial calculations reflect a long-term perspective. Consistent with that perspective, actuarial 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.
The actuarial methods are:
Actuarial cost method
The actuarial assumptions are:
Discount rate
Healthcare cost trend rate
Salary increase
New employees
Entry Age Actuarial
3.3% (Based on the 20 year AA municipal bond rate)
5%
None
None
Mortality rates were based on the Pri-2012 Mortality Fully Generational using Projection Scale MP-2021
Since the most recent valuation, the following changes have been made:
The discount rate was changed from 1.5% to 3.3%.
The mortality assumption has been updated from Pri-2012 Mortality Fully Generational using Projection Scale MP-2020 to
Pri-2012 Mortality Fully Generational using Projection Scale MP-2021.
78
NOTE 15 — OTHER POSTEMPLOYMENT BENEFITS (Continued)
SUMMARY
The aggregate amount of total OPEB liability, related deferred outflows of resources and deferred inflows of resources and OPEB
expense for the County's postemployment benefits plans are summarized below:
County's
Sheriff's
OPEB Plan
OPEB Plan
Total
Total OPEB liability $
8,241,808 $
33,128,024 $
41,369,832
Deferred outflows of resources related to OPEB
481,564
17,691,970
18,173,534
Deferred inflows of resources related to OPEB
2,187,439
5,870,340
8,057,779
OPEB expense
821,062
2,557,152
3,378,214
NOTE 16 — SIGNIFICANT CONTINGENCIES
LITIGATION
The County is involved as defendant or plaintiff in certain litigation and claims arising in the ordinary course of operations. In the
opinion of County legal counsel, the range of potential recoveries or liabilities, other than as disclosed here, will not materially
affect the financial position of the County.
STATE AND FEDERAL GRANTS
Grant monies received and disbursed by the County are for specific purposes and are subject to review by the grantor agencies.
Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the County
does not believe that such disallowances, if any, would have a material effect on the financial position of the County.
ARBITRAGE REBATE
In accordance with the Tax Reform Act of 1986, any interest earnings on borrowed construction funds in excess of the interest
costs incurred are required to be rebated to the federal government. There was no arbitrage liability as of September 30, 2022.
HURRICANE IRMA
On September 10, 2017, Category 3 Hurricane Irma made landfall in Collier County. The primary impacts of Hurricane Irma
were widespread power outages and debris, coastal flooding and beach erosion. The County has spent approximately $108.9
million on recovery efforts and has budgeted an additional $1.1 million in the 2023 fiscal year. In 2022, the County recognized
$260,244 in revenue from the Federal Emergency Management Agency (FEMA). At the end of 2022, the County had $8,284,073
in outstanding receivables related to FEMA claims and continues to expect reimbursements from FEMA as projects close out
over the next few years.
HURRICANE IAN
On September 28, 2022, Hurricane Ian made landfall just north of Collier County as a Category 4 storm, bringing significant storm
surge to the coastal areas. The financial impact of Hurricane Ian to the County is estimated at $125.2 million, including $65.0
million for debris removal and $25.0 million for an emergency berm along the County beaches to provide storm surge protection
for the upcoming hurricane season. The County expects to receive substantial reimbursement from the Federal Emergency
Management Agency and insurances.
79
NOTE 17 — SIGNIFICANT COMMITMENTS
Collier County has active construction projects as of September 30, 2022. The projects include road construction, governmental
facilities and utilities improvements. At year end, the County's significant commitments with contractors include the following:
Construction
Category
Commitments
Governmental Activities:
Grants and Shared Revenue
Physical Environment
$ 546,038
Infrastructure Sales Tax
General Government
879,970
Transportation
112,757,270
Human Services
2,094,761
Culture and Recreation
1,781,651
Other Governmental Funds
General Government
1,066,044
Public Safety
19,436
Physical Environment
11,120,628
Transportation
77,662,243
Culture and Recreation
16,340,374
Business -type Activities:
Water and Sewer
Utilities
54,914,965
Total
$ 279,183,380
Encumbrances represent commitments for future expenditures, based on purchase orders or contracts issued, where the goods
or services have been ordered but not received. Encumbrance commitments do not include construction contracts, as they are
included as construction commitments.
Collier County had the following significant individual encumbrances as of September 30, 2022:
Governmental Activities:
Bayshore Gateway Community
Redevelopment Agency
Grants and Shared Revenue
Infrastructure Sales Tax
Other Governmental Funds
Business -type Activities:
Water and Sewer
Emergency Medical Services
Other Enterprise Funds
Internal Service Funds
Total
Category
Economic Environment
Transportation
Economic Environment
Human Services
Public Safety
Physical Environment
Transportation
General Government
Physical Environment
Transportation
Economic Environment
Culture and Recreation
Utilities
Emergency Medical Services
Collier Area Transit
Motor Pool Capital Recovery
Encumbrance
Commitments
600,000
1,912,174
7,602,935
1,212,626
708,806
2,180,003
2,074,411
1,506,432
2,383,883
3,013,358
650,000
3,610,369
11,708,656
1,118,959
3,773,801
1,127,610
$ 45,184,023
NOTE 18 — SUBSEQUENT EVENTS
HURRICANE IAN TAX REFUNDS
Florida Statutes Section 197.3181 was signed into law on December 16, 2022. This section allows homeowners whose residential
improvements were rendered uninhabitable for at least thirty (30) days by Hurricanes Ian or Nicole to apply for a prorated refund of
ad valorem taxes. A homeowner who fails to file an application by April 3, 2023, waives their claim for a tax refund under Section
197.3181. As of the date of this report it is not possible to estimate the total financial impact of this law.
ISSUANCE OF DEBT
On January 17, 2023, the Collier County Water and Sewer District issued the Series 2023 Taxable Water and Sewer Refunding
Revenue Bond (Bank Term Loan) in the par amount of $49,945,000. The proceeds of the Series 2023 Bond were put in an escrow
to be used to refund all of the outstanding Collier County Water and Sewer Refunding Revenue Bonds, Series 2016. The final
maturity of the Series 2023 Bond is July 1, 2036, with a taxable fixed interest rate of 4.15%. On July 1, 2026, the Series 2023
Bond is scheduled to be exchanged for a Series 2026 tax exempt bond paying fixed interest at 3.39%. The refunding, assuming
an exchange to a tax exempt Series 2026 Bond, will achieve a net present value savings of 7.31 % on the refunded bonds and an
aggregate debt service savings of $4,395,527. The Series 2023 Bond was issued as a direct placement financing, secured with
a lien on parity with all outstanding Collier County Water and Sewer District senior lien debt. The refunded Series 2016 Collier
County Water and Sewer Refunding Revenue Bonds have a redemption date of July 1, 2026.
NOTE 19 — FUND DEFICITS
The following fund had a fund balance deficit at September 30, 2022:
Fund
Amount
Amateur Sports Complex $ 1,505,033
The unassigned fund balance deficit in the Amateur Sports Complex fund is the result of advances from other funds made in
prior years. County management anticipates that the deficit in this fund will be covered by future years' tourist tax revenue.
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Required
Supplementary
Information
COLLIER COUNTY, FLORIDA
SCHEDULE OF THE COUNTY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
FLORIDA RETIREMENT SYSTEM PENSION PLAN
Last Ten Fiscal Years
2022 2021 2020 2019 2018
County's Proportion of the Net Pension Liability 0.785103420% 0.770303194% 0.794941674% 0.797837050% 0.804668214%
County's Proportionate Share of the Net Pension Liability
County's Covered Payroll *
County's Proportionate Share of the Net Pension Liability (Asset) as a
Percentage of Its Covered Payroll
Plan Fiduciary Net Position as a Percentage of the total Pension Liability
$292,121,565 $ 58,187,652 $344,539,437 $274,763,972 $242,370,237
$252,964,206 $241,529,826 $234,174,659 $228,455,160 $225,786,565
115.48% 24.09% 147.13%
82.89% 96.40% 78.85%
120.27% 107.34%
82.61 % 84.26%
* Covered Payroll consists of pensionable wages calculated as of the respective measurement date, restated for periods 2014 to 2017 pursuant to GASB No. 82, Pension Issues.
SCHEDULE OF COUNTY CONTRIBUTIONS
FLORIDA RETIREMENT SYSTEM PENSION PLAN
Last Ten Fiscal Years
2022 2021
2020
2019
2018
Contractually Required Contribution $ 35,022,631 $ 30,034,061
$ 27,741,964
$ 25,202,730
$ 23,401,059
Contributions in Relation to the Contractually Required Contribution (35,022,631) (30,034,061)
(27,741,964)
(25,202,730)
(23,401,059)
Contribution Deficiency (Excess) $ - $ -
$ -
$ -
$
County'sCoveredPayroll- Fiscal Year $261,931,755 $241,604,760
$240,018,783
$230,500,331
$226,283,207
Contributions as a Percentage of Covered Payroll 13.37% 12.43%
11.56%
10.93%
10.34%
* Covered Payroll - Fiscal Year consists of pensionable wages calculated forthe respective fiscal year, restated for periods 2014 to 2017 pursuantto
GASB No. 82,
Pension Issues.
SCHEDULE OF THE COUNTY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
RETIREE HEALTH INSURANCE SUBSIDY PROGRAM
Last Ten Fiscal Years
2022 2021 2020 2019 2018
County's Proportion of the Net Pension Liability 0.693371195% 0.682720614% 0.673478223% 0.683003525% 0.690065185%
County's Proportionate Share of the Net Pension Liability
County's Covered Payroll *
County's Proportionate Share of the Net Pension Liability (Asset) as a
Percentage of Its Covered Payroll
$ 73,439,084 $ 83,745,948 $ 82,230,597 $ 76,421,260 $ 73,037,274
$252,964,206 $241,529,826 $234,174,659 $228,455,160 $225,786,565
29.03% 34.67% 35.12% 33.45%
Plan Fiduciary Net Position as a Percentage of the totalPension Liability 4.81 % 3.56% 3.00% 2.63%
* Covered Payroll consists of pensionable wages calculated as of the respective measurement date pursuant to GASB No.82, Pension Issues.
SCHEDULE OF COUNTY CONTRIBUTIONS
RETIREE HEALTH INSURANCE SUBSIDY PROGRAM
Last Ten Fiscal Years
32.35%
2.15%
2022
2021
2020 2019
2018
Contractually Required Contribution
$ 4,3 11,241
$ 4,008,775
$ 3,982,772 $ 3,792,652
$ 3,750,4 88
Contributions in Relation to the Contractually Required Contribution
(4,341,241)
(4,008,775)
(3,982,772) (3,792,652)
(3,750,438)
Contribution Deficiency (Excess)
$ -
$ -
$ - $ -
$ -
County'sCoveredPayroll- Fiscal Year
$261,931,755
$241,604,760
$240,018,783 $230,500,331
$226,283,207
Contributions as a Percentage of Covered Payroll
1.66%
1.66%
1.66% 1.65%
1.66%
* Covered Payroll consists of pensionable wages calculated as of the respective measurement date
pursuant to GASB No.82, Pension Issues.
Note: Information is required to be presented for 10years. However, until a full 10-year trend is compiled,
the County will present information for only those years for
which information
is available.
84
2017 2016 2015 2014
0.796720676 % 0.772938545% 0.736106708 % 0.703655077%
$ 235,664,630 $ 195,167,590 $ 95,078,054 $ 42,933,306
$ 212,195,163 $ 199,870,915 $ 195,154,275 $ 184,577,284
111.06 % 97.65 % 48.72 % 23.26 %
83.89% 84.88% 92.00% 96.09%
2017 2016 2015 2014
$ 20,299,090 $ 20,563,824 $ 17,830,147 $ 17,287,796
(20,299,090) (20,563,824) (17,830,147) (17,287,796)
$ 216,521,253 $ 206,179,415 $ 193,543,352 $ 185,505,694
9.38% 9.97% 9.21 % 9.32%
2017
2016
2015
2014
0.665383863 %
0.645620406 %
0.642983194 %
0.621385755 %
$ 71,145,914
$ 75,244,385
$ 65,574,171
$ 58,101,084
$ 212,195,163
$ 199,870,915
$ 195,154,275
$ 184,577,284
33.53%
37.65%
33.60%
31.48%
1.64%
0.97%
0.50%
0.99%
2017 2016 2015 2014
$ 3,593,353 $ 3,415,537 $ 2,614,704 $ 2,131,155
(3,593,353) (3,415,537) (2,614,704) (2,131,155)
$ 216,521,253 $ 206,179,415 $ 193,543,352 $ 185,505,694
1.66% 1.66% 1.35% 1.15%
85
COLLIER COUNTY, FLORIDA
SCHEDULE OF CHANGES IN THE COLLIER COUNTY
TOTAL OPEB LIABILITY AND RELATED RATIOS
Last Ten Fiscal Years
Board of County Commissioners and Constitutional Officers
Total OPEB liability
Service Cost
Interest
Changes of benefit terms
Differences between expected and actual experience
Changes of assumptions or other inputs
Benefit payments
Net change in total OPEB liability
Total OPEB liability, beginning
Total OPEB liability, ending
2022
2021
2020
2019
2018
$ 673,684 $
609,931 $
609,998 $
438,933 $
491,865
148,910
162,236
190,846
287,048
252,345
(1,534)
(588,396)
(1,190)
-
(1,585,700)
74,553
322,360
387,596
(221,309)
(494,511)
(574,452)
(474,429)
(674,797)
(625,275)
(1,259,151)
(316,128)
647,585
438,780
(102,374)
9,500,959 9,817,087 9,169,502 8,730,722 8,833,096
$ 8, 441,808 $ 9, 000,959 $ 9, 117,087 $ 9, 669,502 $ 8, 330,722
Covered -employee payroll $ 152,351,768 $ 141,768,412 $ 135,688,734 $ 132,769,448 $ 123,441,030
Total OPEB liability as a percentage of covered employee payroll 5.41% 6.70% 7.24% 6.91 i, 7.07%
Notes to the Schedule
Changes in Assumptions: Change in the discount rate of 1.5% as of September 30, to 3.9% as of September 30, 2022.
Note: Information is required to be presented for 10 years. However, until a full 10 year trend is compiled, the County will present information for only those
years for which information is available.
Board of County Commissioners and Constitutional Officers
Total OPEB liability
Service Cost
Interest
Changes of benefit terms
Differences between expected and actual experience
Changes of assumptions or other inputs
Benefit payments
Net change in total OPEB liability
Total OPEB liability, beginning
Total OPEB liability, ending
2022
2021
2020
2019
2018
$ 734,513 $
777,037 $
555,065
$ 485,365 $
520,082
422,604
448,520
435,838
631,825
503,525
10,708,734
451
5,292,054
-
2,048,462
(5,446,075)
353,427
949,878
2,250,569
(898,977)
(1,461,666)
(1,329,954)
(1,098,451)
(1,074,207)
(941,061)
4,958,110
249,481
6,134,384
2,293,552
1,232,031
28,169,914 27,920,433 21,786,049 19,492,497 18,260,466
$ 33, 228,024 $ 28, 669,914 $ 27, 220,433 $ 21, 886,049 $ 19, 992,497
Covered -employee payroll $ 95,742,481 $ 87,324,387 $ 83,944,157 $ 81,378,975 $ 80,473,682
Total OPEB liability as a percentage of covered employee payroll 34.60°i 32.26% 33.26% 26.77% 24.22%
Notes to the Schedule
Changes in Assumptions: Change in the discount rate of 1.5 i, as of September 30, 2021 to 3.3 io as of September 30, 2022.
The mortality assumption has been updated from Pri-2012 Mortality Fully Generational Projection Scale MP-2020 to Pri-2012 Mortality Fully Generational
Projection Scale MP-2021.
Note: Information is required to be presented for 10 years. However, until a full 10 year trend is compiled, the County will present information for only those
years for which information is available.
86
2017
$ 464,531
248,849
(8,258)
(589,882)
115,240
8,717,856
$ 8,833,096
$121,574,778
7.27%
2017
$ 491,420
502,621
(83,607)
(871,353)
39,081
18,221,385
$ 18,260,466
$ 91,192,818
20.02 i
87
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NONMAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
ROAD DISTRICTS — To account for taxes levied and expenditures to carry on all work on roads and bridges in the County except
that provided for in capital project funds.
UNINCORPORATED AREA MUNICIPAL SERVICES TAXING DISTRICT — To account for revenues derived from and expanded for
the benefit of the unincorporated areas of the County.
COMMUNITY DEVELOPMENT — To account for building permit and development fees to support licensing, permitting and
inspection services.
WATER MANAGEMENT AND POLLUTION CONTROL — To account for taxes levied County -wide to provide water resource
management and water pollution control.
PELICAN BAY — To account for taxes levied in the Pelican Bay development to provide water resource management and
beautification services.
STORMWATER UTILITY — To account for the accumulation of resources and expenditures related to the management of facilities
and services for drainage and flood protection County -wide.
HURRICANE IAN — To account for the accumulation of resources and expenditures related to the recovery from Hurricane Ian.
IMPROVEMENT DISTRICTS — To account for taxes levied within municipal service taxing districts to provide for specified
improvements and/or the maintenance of such improvements.
FIRE CONTROL DISTRICTS — To account for taxes levied within municipal service taxing districts for fire prevention and control.
LIGHTING DISTRICT — To account for taxes levied within a municipal service taxing district for street lighting.
911 ENHANCEMENT FEE — To account for fees levied on each telephone access line in the County for the enhancement of the
911 emergency telephone system.
TOURIST DEVELOPMENT — To account for the 5% tourist development tax.
STATE HOUSING INITIATIVE PARTNERSHIP — To account for state revenues received to provide affordable residential housing
for very low to moderate income persons and those who have special housing needs.
800 MHZ INTERGOVERNMENTAL RADIO COMMUNICATIONS PROGRAM FUND — To account for moving traffic violation
surcharges received to fund the County's intergovernmental radio communications program.
STATE COURT ADMINISTRATION — To account for County monies used to fund the operation of the court system.
CONFISCATED PROPERTY — To account for the accumulation and expenditure of proceeds from the sale of property confiscated
by the Sheriff.
GAC LAND SALES, ROADS AND CANALS — To account for principal and settlement fees received from a 1977 settlement with
GAC Properties, Inc., and interest thereon to be expended for the restoration and maintenance of roads, facilities and drainage
improvements in the Golden Gate Estates area.
UTILITY FEE — To account for fees to be used to effectively and efficiently regulate private water and wastewater utilities operating
within the unincorporated areas of Collier County and the City of Marco Island.
CONSERVATION COLLIER — To account for the acquisition and management of environmentally sensitive lands.
COURT INFORMATION TECHNOLOGY — To account for the accumulation of resources to enhance and increase access to court
information.
COURT SERVICES — To account for the accumulation of revenues associated with the function of the local court system.
UNIVERSITY EXTENSION — To account for fund accumulation to meet the educational goals of the Collier County OF/IFAS
extension.
COURT FACILITIES FEE — To account for the accumulation of resources to improve court facilities.
AFFORDABLE HOUSING — To account for fees to be used to provide for affordable housing related projects.
ECONOMIC AND INNOVATION ZONES — To account for the accumulation of resources for economic development in accordance
with an approved tax increment financing plan.
OTHER COURT SPECIAL REVENUE FUNDS — To account for the statutory surcharge on recording documents to be paid to the
Clerk of the Circuit Court for modernization.
91
OTHER PUBLIC SAFETY SPECIAL REVENUE FUNDS — To account for the accumulation of resources for the Sheriff's Inmate
Welfare, Federal Equitable Sharing and other statutory revenues paid to the Sheriff to fund various inmate welfare, crime prevention
and training programs.
OTHER SPECIAL REVENUE FUNDS — To account for the accumulation of resources for the following programs:
Miscellaneous Florida Statutes Fee Collections
Adoption Awareness
Teen Court
Animal Control
Public Library
Law Library
Freedom Memorial
County Drug Abuse
Permanent Funds
Euclid and Lakeland Assessment
Legal Aid Society
Law Enforcement Training
Domestic Violence
Juvenile Assessment Center
Driver Education
Crime Prevention
RESOURCE RECOVERY PARK ENDOWMENT — To account for the permanent endowment established for the benefit of the
County's land conservation program.
PEPPER RANCH CONSERVATION BANK — To account for the permanent endowment established for the benefit of establishing
and maintaining a panther habitat land conservation bank.
Debt Service Funds
POOLED COMMERCIAL PAPER PROGRAM — To account for the accumulation of resources and payment of interest and principal
on variable rate debt incurred for capital improvements within Pelican Bay.
GAS TAX REFUNDING REVENUE BONDS — To account for the accumulation of resources and payment of interest and principal on
the Series 2012 Gas Tax Refunding Revenue Bonds and Series 2014 Gas Tax Refunding Revenue Bond (bank term loan) incurred
in the refinancing of Gas Tax Revenue Bonds.
FOREST LAKES LIMITED GENERAL OBLIGATION BONDS — To account for the accumulation of resources and payment of interest
and principal on the Series 2007 Forest Lakes Limited General Obligation Bonds debt incurred to finance the cost of certain
roadway lighting, drainage and restoration in the Forest Lakes Municipal Services Taxing Unit.
SPECIAL OBLIGATION REFUNDING REVENUE BONDS — To account for the accumulation of resources and payment of interest
and principal on the Series 2020A and 2020B (Taxable) Special Obligation Revenue Bonds and the Series 2017 Special Obligation
Refunding Revenue Note (bank term loan) incurred in the refinancing of variable rate commercial paper loans and revenue bonds.
Also used to account for the accumulation of resources and payment of interest and principal on the Series 2019 Taxable Special
Obligation Revenue Note (bank term loan) used to purchase the Golden Gate Golf Course and the Series 2022A and 2022B
Special Obligation Revenue Notes (bank term loans) used to refinance the Series 2011 and 2013 Special Obligation Refunding
Revenue Bonds.
TOURIST DEVELOPMENT TAX REVENUE BONDS — To account for the accumulation of resources and payment of interest and
principal on the Series 2018 Tourist Development Tax Revenue Bonds incurred to pay the cost of the development, acquisition,
construction and equipping of a regional tournament caliber amateur sports complex.
Capital Project Funds
COUNTY -WIDE CAPITAL IMPROVEMENTS — To account for capital projects, designated by the Board of County Commissioners,
to be funded by a County -wide one third mil levy.
PARKS IMPROVEMENTS — To account for the expenditure of funds raised specifically for improvements to parks. Projects include
land acquisition, design, construction and equipping of certain Community Park sites in the unincorporated areas of the County.
Primary funding is ad valorem taxes.
COUNTY -WIDE LIBRARY IMPACT FEES — To account for the receipt and expenditure of library impact fees collected from all
qualifying new construction. These impact fees must be used for acquisition of County -wide library facilities.
92
CORRECTIONAL FACILITIES IMPACT FEES — To account for the receipt and expenditure of correctional facilities impact fees
collected from all qualifying new construction. These impact fees must be used for the acquisition/construction of correctional
facilities.
EMERGENCY MEDICAL SERVICES IMPACT FEES — To account for the receipt and expenditure of emergency medical service
impact fees collected from all qualifying new construction. These impact fees must be used for acquisition/construction of
emergency service facilities.
WATER MANAGEMENT — To account for the receipt and expenditure of funds raised specifically for water management purposes.
Primary funding is from ad valorem taxes and bond proceeds.
PELICAN BAY CAPITAL IMPROVEMENTS — To account for the receipt and expenditure of funds raised specifically for water
management purposes and the restoration of the Clam Bay estuary in the Pelican Bay Development. Primary funding is a capital
special assessment and commercial paper proceeds.
PARKS IMPACT DISTRICTS — To account for the receipt and expenditure of parks impact fees collected from all qualifying new
construction. The impact fees must be used for the acquisition/construction of park facilities.
ROAD IMPACT DISTRICTS — To account for the receipt and expenditure of road impact fees collected from all qualifying new
construction. The impact fees must be used for the acquisition/construction of roads.
ROAD CONSTRUCTION — To account for the receipt and expenditure of gas taxes. Projects include, but are not limited to, right-
of-way acquisition, design and construction of various transportation improvements.
GOVERNMENT FACILITIES IMPACT FEES — To account for the receipt and expenditure of government facilities impact fees
collected from qualifying new construction. The impact fees must be used for the acquisition and construction of government
facilities.
LAW ENFORCEMENT IMPACT FEES — To account for the receipt and expenditure of law enforcement impact fees collected from
all qualifying new construction. The impact fees must be used for the acquisition and construction of law enforcement related
facilities.
ALL TERRAIN VEHICLE PARK — To account for the receipt and expenditure of funds for the creation of an All Terrain Vehicle park.
AMATEUR SPORTS COMPLEX — To account for major capital expenditures related to the new Amateur Sports Complex. Primary
funding is bonds proceeds and advances from other tourist tax funds.
OTHER CAPITAL PROJECTS — To account for major capital expenditures financed from resources other than proceeds from the
issuance of long-term debt and the one third mil levy.
93
ASSETS
Cash and investments
Receivables:
Interest
Trade, net
Notes
Impact fee
Special assessments
Leases
Due from other funds
Due from other governments
Deposits
Inventory for resale
Inventory
Advances to other funds
Total assets
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities:
Accounts payable
Wages payable
Due to other funds
Due to other governments
Unearned revenues
Refundable deposits
Retainage payable
Advances from other funds
Total liabilities
Deferred inflows of resources:
Unavailable revenue
Related to leases
Total deferred inflows of resources
Fund balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
See accompanying independent auditors' report
COLLIER COUNTY, FLORIDA
COMBINING
BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
September 30, 2022
Special
Revenue Funds
Water
Management
Road
Unincorporated Community
and Pollution
Pelican
Stormwater
Hurricane
Districts
Area MSTD Development
Control
Bay
Utility
Ian
$ 2,723,282
$ 18,486,195 $ 47,444,441
$ 1,578,098 $
2,547,542
$ 3,019,131
$ 999,881
5,138
29,862 57,273
2,459
4,301
4,624
12
6,810
90,461 2,958
-
-
-
-
19,098
5,703,948 -
-
71,205
3,812
529,034 2
31,681
35,623
3,449
945,019 390,794
37,780
8
1,170,909
33,869 -
150,994
114,980
-
- 1,609,689
-
-
-
$ 3,932,498
$ 25,818,388 $ 49,505,157
$ 1,801,012 $
2,658,679
$ 3,138,735
$ 999,893
$ 246,697 $ 1,062,466 $ 274,152 $
771,201 809,984 1,112,936
- 10,539 11,509
600 3,623 3,377,615
- 5,251 -
23,578 4,560,229
97,356 $ 55,653 $ 202,001 $ 608,773
96,200 105,280 118,655 -
- - 5,124
187 -
1,018,498 1,915,441 9,336,441 193,556 161,120 325,780 608,773
18,558 5,233,779 69,759
18,558 5,233,779 69,759 -
1,170,909 33,869 - 150,994 - 114,980
1,724,533 - 40,168,716 - - -
- 18,635,299 - 1,456,462 2,427,800 - -
- - - 2,697,975 391,120
2,895,442 18,669,168 40,168,716 1,607,456 2,427,800 2,812,955 391,120
$ 3,932,498 $ 25,818,388 $ 49, 005,157 $ 1, 001,012 $ 2, 558,679 $ 3, 338,735 $ 999,893
94
Special Revenue Funds
State
Fire
911
Housing
Improvement
Control
Lighting
Enhancement
Tourist
Initiative
800 MHz
State Court
Districts
Districts
District
Fee
Development
Partnership
IRCP Fund
Administration
$ 17,415,441 $
1,013,944 $
774,423 $
1,327,373 $
94,980,034 $
5,533,219 $
298,654 $
685,107
22,349
1,253
1,114
2,859
115,141
5,780
623
1,001
-
-
-
-
1,822,525
7,424
-
-
-
243,407
-
-
-
-
462,308
-
55,370
13,494
7,624
1,964,987
55,652
57,301
-
-
-
3,488,759
4,680
-
-
-
-
-
17,200,000
-
-
-
$ 17,493,160 $
1,028,691 $
783,161 $
1,330,232 $
119,571,446 $
5,789,830 $
821,917 $
743,409
$ 623,182 $ $
$ 27,768 $ 1,374,584 $
363,199 $ 15,094 $ 12,184
27,018
- 171,436
12,361 6,369 95,697
3,396
243,525 582
- - -
- 562,342
- 1,622
5,169
-
84,718 -
18,767
73,129 268,100
- -
- - -
816,612 830,442
271,293 1,566,991
375,560 21,463 107,881
427,357
427,357
- - - 1,058,939 118,004,455 5,414,270 - -
16,676,548 198,249 783,161 - - - 373,097 635,528
16,676,548 198,249 783,161 1,058,939 118,004,455 5,414,270 373,097 635,528
$ 17,493,160 $ 1,028,691 $ 783,161 $ 1,330,232 $ 1 , 99571,446 $ 5,789,830 $ 821,917 $ 743,409
95
ASSETS
Cash and investments
Receivables:
Interest
Trade, net
Notes
Impact fee
Special assessments
Leases
Due from other funds
Due from other governments
Deposits
Inventory for resale
Inventory
Advances to other funds
Total assets
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities:
Accounts payable
Wages payable
Due to other funds
Due to other governments
Unearned revenues
Refundable deposits
Retainage payable
Advances from other funds
Total liabilities
Deferred inflows of resources:
Unavailable revenue
Related to leases
Total deferred inflows of resources
Fund balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances
See accompanying independent auditors' report
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
September 30, 2022
Special Revenue
Funds
GAC Land
Court
Confiscated Sales, Roads Utility
Conservation
Information
Court
Property and Canals Fee
Collier
Technology
Services
$ 491,410 $ 2,059,582 $ 1,104,734
$ 47,052,641
$ 1,733,678 $
1,500,230
610 2,423 1,287
58,388
2,102
-
- - 33,242
-
-
203,440
57,682
-
80
-
21,189
194,793
$ 492,020 $ 2,256,798 $ 1,139,263
$ 47,314,549
$ 1,793,462 $
1, 221,419
$ $ $ $ 55,991 $ 8,458 $ 1,073
13,369 36,060 6,492 219,196
7,000 91 312 - 295,230
- - - 158,245 660,423
- 345,497
142,300 -
7,000 142,300 13,460 92,363 173,195 1,521,419
485,020 2,114,498 - 47,222,186 1,620,267
- - 1,125,803 - -
485,020 2,114,498 1,125,803 47,222,186 1,620,267
$ 492,020 $ 2,256,798 $ 1,139,263 $ 47,314,549 $ 1,793,462 $ 1,521,419
Special Revenue Funds
Other
Other
Other
Total
Court
Economic and
Court Special
Public Safety
Special
Special
University Facilities
Affordable
Innovation
Revenue
Special
Revenue
Revenue
Extension Fee
Housing
Zones
Funds
Revenue Funds
Funds
Funds
$ 14,413 $ 8,538,749 $
834,257
$ 5,287,320
$ 8,578,762
$ 4,773,413 $
3,761,133 $
284,557,087
21 10,209
1,066
6,431
-
1,690
4,966
342,982
- -
-
-
48,214
-
2,011,634
-
243,407
-
-
-
6,256,559
77,204
77,566
23,092
3,193,564
-
-
332
4,892,090
194,793
1,470,752
18,809,689
$ 14,434 $ 8,626,162 $ 835,323 $ 5,293,751 $ 8,578,762 $ 4900,883 $ 3,7 99,523 $ 321,972,557
$ $ 5,793 $ - $ - $ 7,080 $ 8,945 $ 78,559 $ 5,129,008
- 9,151 22,271 - 2,848 3,636,524
- - 117,307 - 694,615
- 58 4,764,715
- 350,748
4,731,276
103,485
341,229
5,793 9,151 29,351 126,252 81,465 19,751,600
5,749,453
5,749,453
- - - - - 1,470,752
14,434 8,620,369 - - 8,549,411 4,774,631 219,165 239,990,894
- - 826,172 5,293,751 - - - 48,431,870
- - 3,488,893 6,577,988
14,434 8,620,369 826,172 5,293,751 8,549,411 4,774,631 3,708,058 296,471,504
$ 14,434 $ 8,626,162 $ 835,323 $ 5,293,751 $ 8,578,762 $ 4,900,883 $ 3,789,523 $ 321,972,557
97
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
September 30, 2022
Permanent Funds
Debt Service Funds
Forest Lakes
Resource Pepper
Pooled
Limited
Recovery Ranch Total
Commercial Gas Tax
General
Park Conservation Permanent
Paper Refunding
Obligation
Endowment Bank Funds
Program Revenue Bonds
Bonds
ASSETS
Cash and investments
$ 1,692,339 $ 3,805,022 $ 5,497,361 $
5 $ 994,095 $
36,401
Receivables:
Interest
2,071 4,615 6,686
- 1,145
44
Trade, net
- - -
-
-
Notes
Impact fee
Special assessments
Leases
Due from other funds
- -
Due from other governments
1,438 343,159
Deposits
- -
Inventoryforresale
Inventory
-
Advances to other funds
- -
- -
-
Total assets
$ 1,694,410 $ 3,809,637 $ 5,504,047 $
1,443 $ 1,338,399 $
36,445
Liabilities, Deferred Inflows of
Resources and Fund Balances
Liabilities
Accounts payable
$ $
$
$ $ $
Wages payable
Due to other funds
Due to other governments
669
669
Unearned revenues
-
-
Refundable deposits
Retainage payable
Advances from other funds
Total liabilities
669
669
Deferred inflows of resources:
Unavailable revenue
-
-
Related to leases
Total deferred inflows of resources
-
-
-
Fund balances:
Nonspendable
1,582,800
3,940,000
5,522,800 - - -
Restricted
111,610
-
111,610 1,443 1,338,399 36,445
Committed
-
- - - -
Assigned
Unassigned
-
(131,032)
(131,032) - - -
Total fund balances
1,694,410
3,808,968
5,503,378 1,443 1,338,399 36,445
Total liabilities, deferred inflows of
resources and fund balances
$ 1,694,410 $
3,809,637 $
5,504,047 $ 1,443 $ 1,338,399 $ 36,445
See accompanying independent auditors' report
98
Debt Service Funds
Capital Project Funds
Tourist
Special
Development
Total
Emergency
Obligation
Tax
Debt
County -Wide
County -Wide
Correctional
M dical
Refunding
Revenue
Service
Capital
Parks
Library
Facilities
Services
Revenue Bonds
Bonds
Funds
Improvements
Improvements
Impact Fees
Impact Fees
Impact Fees
$ 2,098,396
$ 2,386,749 $
5,515,646
$ 50,232,560
$ 24,629,082
$ 545,404 $
1,987,210
$ 634,605
2,224
2,827
6,240
59,564
32,323
552
2,214
804
-
-
-
67,253
-
-
-
-
227,442
157,734
77,925
-
8,077
2,153
-
-
-
344,597
2,777,597
140,264
17,990
49,151
13,749
$ 2,100,620
$ 2,389,576 $
5,866,483
$ 53,145,051
$ 24,803,822
$ 791,388 $
2,196,309
$ 727,083
$ $ $ $ 591,938 $ 661,006 $ $ $
224,791
180,939
239,848
997,668 900,854 - - -
- - 227,442 157,734 77,925
227,442 157,734 77,925
2,100,620 2,389,576 5,866,483 12,795,279 563,946 2,038,575 649,158
52,147,383 11,107,689
2,100,620 2,389,576 5,866,483 52,147,383 23,902,968 563,946 2,038,575 649,158
$ 2,100,620 $ 2,389,576 $ 5,866,483 $ 53,145,051 $ 24,803,822 $ 791,388 $ 2,196,309 $ 727,083
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL
FUNDS
September 30, 2022
Capital Project
Funds
Pelican Bay
Parks
Road
Government
Water
Capital
Impact
Impact
Road
Facilities
Management
Improvements
Districts
Districts
Construction
Impact Fees
ASSETS
Cash and investments
$
69,593,580
$ 6,873,801 $
49,177,714 $
112,730,049
$ 47,436,445 $
3,818,832
Receivables:
Interest
86,796
9,467
56,977
134,721
58,581
4,522
Trade, net
-
-
-
-
-
-
Notes
-
-
-
Impact fee
1,746,924
4,528,049
355,994
Special assessments
-
-
-
Leases
-
Due from other funds
5,719
16,340
-
-
973,121
-
Due from other governments
2,356
37,235
146,180
822,987
3,351,265
90,770
Deposits
-
-
1,250
-
-
-
inventory for resale
-
Inventory
-
Advances to other funds
-
-
-
-
-
Total assets
$
69,688,451
$ 6,936,843 $
51,129,045 $
118,215,806
$ 51,819,412 $
4,270,118
Liabilities, Deferred Inflows of
Resources And Fund Balances
Liabilities:
Accounts payable
$
1,563,132
$ 461,516 $
87,294 $
1,158,784
$ 880,886 $
Wages payable
-
-
-
-
-
Due to other funds
-
-
342,312
Due to other governments
20,412
159,382
-
Unearned revenues
-
-
-
-
Refundable deposits
-
-
-
22,500
81,360
Retainage payable
426,328
117,946
159,390
567,767
160,593
Advances from other funds
-
-
-
-
Total liabilities
2,009,872
738,844
246,684
1,749,051
1,465,151
-
Deferred inflows of resources:
Unavailable revenue
-
-
1,746,924
4,528,049
-
355,994
Related to leases
-
-
-
Total deferred inflows of resources
1,746,924
4,528,049
355,994
Fund balances:
Nonspendable
-
-
-
-
Restricted
47,572,070
673,373
49,135,437
111,938,706
50,354,261
3,914,124
Committed
-
-
-
-
-
-
Assigned
20,106,509
5,524,626
Unassigned
-
-
-
-
-
Total fund balances
67,678,579
6,197,999
49,135,437
111,938,706
50,354,261
3,914,124
Total liabilities, deferred inflows of
resources and fund balances
$
69,688,451
$ 6,936,843 $
51,129,045 $
118,215,806
$ 51,819,412 $
4,270,118
See accompanying independent auditors' report
100
Capital Project Funds
Total
Total
Law
All Terrain
Amateur
Other
Capital
Nonmajor
Enforcement
Vehicle
Sports
Capital
Project
Governmental
Impact Fees
Park
Complex
Projects
Funds
Funds
$ 2,953,749
$ 3,039,711 $
23,256,782 $
12,077,143 $
408,986,667
$ 704,556,761
3,322 3,709 29,435 14,838
497,825
853,733
- - - -
67,253
2,078,887
-
-
243,407
177,387 -
7,271,455
7,271,455
- 1,405
1,405
1,405
-
-
6,256,559
176
1,005,586
4,199,150
20,378
7,469,922
12,706,609
-
1,250
1,250
-
194,793
-
-
1,470,752
- - - 73,129
73,129
18,882,818
$ 3,134,458 $ 3,043,420 $ 23,286,217 $ 12,187,069 $
425,374,492 $
758,717,579
$ $ $ 3,626,595 $ 95,547 $ 9,126,698 $ 14,255,706
- - - 3,636,524
567,103 1,261,718
360,733 5,126,117
- 350,748
- 103,860 4,835,136
3,964,655 - 5,636,527 5,740,012
17,200,000 9,264 17,209,264 17,550,493
24,791,250 104,811 33,004,185 52,756,454
177,387 7,271,455 7,271,455
- - 5,749,453
177,387 7,271,455 13,020,908
- - -
6,993,552
2,957,071 109,283 282,701,283
528,670,270
- - - -
48,431,870
3,043,420 11,972,975 103,902,602
110,480,590
- - (1,505,033) - (1,505,033)
(1,636,065)
2,957,071 3,043,420 (1,505,033) 12,082,258 385,098,852
692,940,217
$ 3,134,458 $ 3,043,420 $ 23,286,217 $ 12,187,069 $ 425,374,492 $ 758,717,579
101
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Principal
Interest
Fiscal charges
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
See accompanying independent auditors' report
Revenue Funds
Water
Management
Road
Unincorporated
Community
and Pollution
Pelican
Stormwater
Hurricane
Districts
Area MSTD
Development
Control
Bay
Utility
Ian
$
$ 54,796,171
$ -
$ 2,955,114
$ 635,608
$
$
38,183
30,837,179
-
-
2,124,159
-
3,706
-
-
62,500
322,548
2,961,747
4,043,641
294,198
363
-
-
327,898
-
-
-
(159,960)
(1,231,926)
(2,100,386)
(111,894)
(196,302)
(159,056)
(107)
-
-
-
3,894,957
-
-
56,447
301,648
53,640
55,882
4,622
-
2,343,194
57,193,721
32,837,780
3,137,418
4,390,508
(91,934)
(107)
6,929,283 9,436,156
4,462,879 22,119,237 - - - -
688,986 1,452,887 2,864,156 1,082,185 6,612,425 608,773
23,017,839 14,004,527 389,951 - 3,480,981 - -
- 76,469 - -
14,663,595
161 73,476
139 8,100
113,555 34,442 - 8,073 641,742 30,039 -
23,131,694 40,860,181 33,398,231 2,872,229 5,286,484 6,642,464 608,773
(20,788,500) 16,333,540 (560,451) 265,189 (895,976) (6,734,398) (608,880)
- - - - 591,380 -
57,717 2,004 1,006 377 12,950 86,200
276,894 171,454 647 - - - -
21,285,500 3,426,362 945,102 72,889 69,704 7,706,100 1,000,000
(1,277,600) (18,274,752) (2,336,500) (633,701) (632,390) (22,600) -
20,342,511 (14,674,932) (1,389,745) (560,435) 41,644 7,769,700 1,000,000
(445,989) 1,658,608 (1,950,196) (295,246) (854,332) 1,035,302 391,120
3,341,431 17,010,560 42,118,912 1,902,702 3,282,132 1,777,653 -
$ 2,895,442 $ 18,669,168 $40,168,716 $ 1,607,456 $ 2,427,800 $ 2,812,955 $ 391,120
102
Revenue Funds
Improvement
Districts
Fire
Control
Districts
Lighting
District
911
Enhancement
Fee
Tourist
Development
State
Housing
Initiative
Partnership
800 MHz
IRCP Fund
State Court
Administration
$ 6,058,093 $
1,459,702 $
860,685
$
$ 47,470,485
$ $
$
-
2,224,092
3,489,914
4,158,567
260,677
-
1,023,362
-
377,465
178,775
-
-
-
690,007
(861,478)
(51,797)
(43,242)
(95,730)
(3,987,841)
(183,504)
(10,842)
(30,086)
1,084,812
-
84,120
-
144,186
495,793
149,646
-
6,542,104
1,407,905
901,563
2,128,362
48,140,106
4,470,856
516,269
838,696
- - - 1,243,385
- 1,962,102 1,961,213 - 1,182,838 1,481,524
1,528,787 - - - 4,014,101 - -
1,385,905 700,577 - -
- - 1,616,249
989,544 16,119,644
- 28,436 350,641
671 1,266 44,199
1,652,065 - - 929,981 6,769,933 - - -
5,556,972 1,991,804 700,577 2,891,194 26,903,678 1,616,249 1,577,678 2,724,909
985,132 (583,899) 200,986 (762,832) 21,236,428 2,854,607 (1,061,409) (1,886,213)
- 9,253
50,484 - - - - -
636,180 578,609 7,407 1,382,900 1,166,400 2,418,900
(748,777) (43,516) (24,521) (7,450,710) (31,571) - (201,700)
(62,113) 535,093 (17,114) (6,058,557) (31,571) 1,166,400 2,217,200
923,019
(48,806)
183,872
(762,832)
15,177,871
2,823,036
104,991
330,987
15,753,529
247,055
599,289
1,821,771
102,826,584
2,591,234
268,106
304,541
$ 16,676,548 $
198,249 $
783,161 $
1,058,939 $
118,004,455 $
5,414,270 $
373,097 $
635,528
103
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Special Revenue Funds
GAC Land
Court
Confiscated
Sales, Roads
Utility
Conservation
Information
Court
Property
and Canals
Fee
Collier
Technology
Services
Revenues:
Taxes $
$ $
125,342
$ 25,203,908
$ $
Licenses, permits and impact fees
-
-
Intergovernmental
898
-
553,301
Charges for services
100,000
54
1,164,028
7,458,991
Fines and forfeitures
-
-
-
-
Interest earnings
(22,926)
(66,693)
(49,000)
(1,982,372)
(74,576)
27,263
Special assessments
-
-
-
Miscellaneous
1,258,489
-
301,913
-
-
Total revenues
(22,926)
1,191,796
177,240
23,523,503
1,089,452
8,039,555
Expenditures:
Current:
General government
-
-
-
-
904,784
8,039,555
Public safety
12,000
-
-
16,780
-
Physical environment
-
281,306
1,128,328
-
Transportation
Economic environment
-
-
-
Human services
-
89,631
Culture and recreation
3,517
-
Debt service
Principal
-
Interest
Fiscal charges
-
-
Capital outlay
-
910,964
17,167
-
Total expenditures
12,000
3,517
281,306
2,039,292
1,028,362
8,039,555
Excess (deficit) of revenues
over (under) expenditures
(34,926)
1,188,279
(104,066)
21,484,211
61,090
-
Other financing sources (uses):
Refunding loans issued
-
-
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
-
Sale of capital assets
1,125
Insurance proceeds
-
-
Transfers in
202,857
Transfers out
(547,678)
-
Total other financing sources (uses)
-
(344,821)
1,125
Net change in fund balances
(34,926)
1,188,279
(104,066)
21,139,390
62,215
Fund balances at beginning of year
519,946
926,219
1,229,869
26,082,796
1,558,052
Fund balances at end of year $
485,0 00
$ 2,114,498 $
1,125,803
$ 47,222,186
$ 1,620,267 $
See accompanying independent auditors' report
104
Special Revenue Funds
Other
Other
Other
Total
Court
Economic and
Court Special
Public Safety
Special
Special
University
Facilities
Affordable Innovation
Revenue
Special
Revenue
Revenue
Extension
Fee
Housing Zone
Funds
Revenue Funds
Funds
Funds
$ $
$
$ 2,236,200
$
$ $
- $
141,801,308
-
51,058
30,926,420
-
12,617,137
7,952
1,477,643
1,133,639
278,441
21,083,524
-
1,027,832
-
89,209
46,640
2,181,586
(1,072)
(370,012)
(40,888) (224,242)
55,351
(62,195)
(237,835)
(12,273,348)
-
-
9,327,891
13,222,848
40
175,989
4,167,227
6,880 657,820 (40,848) 2,011,958 1,532,994 1,160,653 9,642,184 213,726,702
138,949
155,709
-
156,502
27,004,323
-
-
-
615,121
162,800
33,976,494
34,724
-
-
20,296,658
-
-
42,979,780
196,388
1,889,106
-
7,334,291
7,423,922
40,865
31,817,165
-
452,714
54,375
-
-
-
-
-
-
11,107,961
34,724
138,949
196,388
-
155,709
615,121
7,694,458
177,002,498
(27,844)
518,871
(237,236)
2,011,958
1,377,285
545,532
1,947,726
36,724,204
-
591,380
78
170,710
-
-
499,479
223,400
202,000
41,324,310
-
-
(32,226,016)
-
223,400
-
-
-
202,078
10,359,863
(27,844)
518,871
(13,836)
2,011,958
1,377,285
545,532
2,149,804
47,084,067
42,278
8,101,498
840,008
3,281,793
7,172,126
4,229,099
1,558,254
249,387,437
$ 14,434 $
8,620,369 $
826,172 $
5,293,751 $
8,549,411 $
4,774,631 $
3,708,058 $
296,471,504
105
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT
OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL
FUNDS
For The Fiscal Year Ended September
30, 2022
Permanent Funds
Debt Service Funds
Pooled
Resource Pepper Ranch
Total
Commercial
Gas Tax
Forest Lakes
Recovery Park Conservation
Permanent
Paper
Refunding
Limited General
Endowment Bank
Funds
Program
Revenue Bonds
Obligation Bonds
Revenues:
Taxes $
$
$ $
$ $
Licenses, permits and impact fees
Intergovernmental
2,110,817
Charges for services
-
Fines and forfeitures
Interest earnings
(78,312) (172,232)
(250,544)
(12)
(59,332)
(1,602)
Special assessments
-
-
-
Miscellaneous
41,200
41,200
-
-
Total revenues
(78,312) (131,032)
(209,344)
(12)
2,051,485
(1,602)
Expenditures:
Current:
General government
-
-
Public safety
-
-
Physical environment
33,823
33,823
Transportation
-
-
Economic environment
Human services
Culture and recreation
-
Debt service
Principal
-
11,875,000
Interest
6,300
1,412,620
Fiscal charges
750
1,500
Capital outlay
-
-
-
Total expenditures
33,823
33,823
7,050
13,289,120
Excess (deficit) of revenues
over (under) expenditures
(112,135) (131,032)
(243,167)
(7,062)
(11,237,635)
(1,602)
Other financing sources (uses):
Refunding loans issued
-
Loans issued
1,460
Discount on refunding loans issued
-
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
-
-
Transfers in
6,175
11,300,000
Transfers out
(15,700)
-
Total other financing
sources (uses)
(8,065)
11,300,000
Net change in fund balances
(112,135) (131,032)
(243,167)
(15,127)
62,365
(1,602)
Fund balances at beginning of year
1,806,545 3,940,000
5,746,545
16,570
1,276,034
38,047
Fund balances at end of year $
1,694, 110 $ 3,808,968
$ 5, 003,378 $
1,443
$ 1,338,399 $
36,445
See accompanying independent auditors' report
106
Debt Service Funds
Capital Project Funds
Special
Tourist
Total
Emergency
Obligation
Development
Debt
County -Wide
County -Wide
Correctional
Medical
Refunding
Tax
Service
Capital
Parks
Library
Facilities
Services
Revenue Bonds
Revenue Bonds
Funds
Improvements
Improvements
Impact Fees
Impact Fees
Impact Fees
-
587,311
1,230,360
2,035,812
574,701
2,110,817
142
-
-
-
(70,871)
(66,020)
(197,837)
(1,928,357)
(1,275,060)
(25,603)
(67,590)
(41,735)
-
67,253
64
-
-
-
(70,871)
(66,020)
1,912,980
(1,861,104)
(687,543)
1,204,757
1,968,222
532,966
3,766,895 - -
129,305 6,834 3,171
34,287 - -
344,146 -
-
-
-
- 2,627,184
14,798,000
1,080,000
27,753,000
-
9,354,401
2,638,000
13,411,321
166,449
2,275
170,974
- - -
-
-
-
1,503,186 6,431,022 - 18,266
24,318,850
3,720,275
41,335,295
5,777,819 9,058,206 6,834 21,437
(24,389,721) (3,786,295) (39,422,315) (7,638,923) (9,745,749) 1,204,757 1,961,388 511,529
108,425,000 108,425,000
- 1,460
(188,900) (188,900)
(108,043,685) (108,043,685)
- 41,150
- - 51,350 84,078
24,574,200 3,217,100 39,097,475 32,023,900 6,767,352
- - (15,700) (8,681,039) (1,960,129) (1,758,100) (2,079,900) (1,456,500)
24,766,615
3,217,100
39,275,650
23,394,211
4,932,451
(1,758,100)
(2,079,900)
(1,456,500)
376,894
(569,195)
(146,665)
15,755,288
(4,813,298)
(553,343)
(118,512)
(944,971)
1,723,726
2,958,771
6,013,148
36,392,095
28,716,266
1,117,289
2,157,087
1,594,129
$ 2,100,620 $
2,389,576 $
5,866,483 $
52,147,383 $
23,902,968 $
563,946 $
2,038,575 $
649,158
107
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Capital Project Funds
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Principal
Interest
Fiscal charges
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
See accompanying independent auditors' report
Pelican Bay
Parks
Road
Government
Water
Capital
Impact
Impact
Road
Facilities
Management
Improvements
Districts
Districts
Construction
Impact Fees
$
$ $
- $
-
$ 17,242,504 $
13,616,870
31,793,220
-
3,781,504
-
-
4,841,578
-
19,896
(3,196,637)
(360,412)
(1,977,676)
(4,840,259)
(2,384,304)
(141,248)
2,005,124
-
-
-
5
1,167,704
-
(3,196,637)
1,644,712
11,639,194
26,952,966
20,887,378
3,640,256
-
-
-
-
26,701
3,071,763
690,955
-
-
-
-
1,009,851
14,716,147
8,431
8,531,407
3,839,731
2,787,420
16,356,362
5,277,574 -
11,603,170
4,530,686
2,795,851
17,366,213
19,993,721 26,701
(14,799,807) (2,885,974) 8,843,343 9,586,753 893,657 3,613,555
998,540
201
99,500
60,865
6
11,919,800
976,340
11,817,300
1,832,000
(211,196)
(105,580)
(3,710,500)
(3,695,777)
(18,332,599)
(5,595,500)
11,708,604
1,869,300
(3,710,299)
(3,596,277)
(6,454,434)
(3,763,494)
(3,091,203)
(1,016,674)
5,133,044
5,990,476
(5,560,777)
(149,939)
70,769,782
7,214,673
44,002,393
105,948,230
55,915,038
4,064,063
$ 67,678,579 $
6,197,999 $
49,135,437 $
111,938,706 $
50,354,261 $
3,914,124
108
Capital Project Funds
Total
Total
Law
All Terrain
Amateur
Other
Capital
Nonmajor
Enforcement
Vehicle
Sports
Capital
Project
Governmental
Impact Fees
Park
Complex
Projects
Funds
Funds
$ $
$
$
14,085 $
17,256,589 $
159,057,897
2,261,853
19,474
55,901,105
86,827,525
-
123
4,841,843
19,569,797
2,000
21,896
21,105,420
-
-
2,181,586
(117,992)
(138,893)
(1,198,873)
(541,431)
(18,236,070)
(30,957,799)
2,005,124
15,227,972
1,235,026
5,443,453
2,143,861
(138,893)
(1,198,873)
(505,749)
63,025,513
278,455,851
- 757,757 4,551,353
31,555,676
3,868 - 143,178
34,119,672
- 3,797,005
24,127,486
15,725,998
58,705,778
-
1,889,106
344,146
7,768,068
1,400 93,489 162,911 2,893,415
34,710,580
28,205,714
13,465,696
- - - 170,974
16,958,070 230,514 61,933,552 73,041,513
3,868 1,400 17,051,559 1,151,182 89,388,647 307,760,263
2,139,993 (140,293) (18,250,432) (1,656,931) (26,363,134) (29,304,412)
-
108,425,000
998,540
1,000,000
-
(188,900)
(108,043,685)
591,380
-
201,722
372,432
-
3,560
138,988
638,467
11,459,377
2,472,176
79,268,245
159,690,030
(1,835,300)
-
(68,378)
(49,490,498)
(81,732,214)
(1,835,300)
11,459,377
2,407,358
31,116,997
80,752,510
304,693
(140,293) (6,791,055)
750,427
4,753,863
51,448,098
2,652,378
3,183,713 5,286,022
11,331,831
380,344,989
641,492,119
$ 2, 557,071 $
3,043,420 $ (1,505,0331 $
12,082,258 $
385,098,852 $
692,940,217
109
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Infrastructure Sales Tax (Major Fund)
Road Districts
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
$ 87,538,400
$ 120,375,618 $
32,837,218
$
$ $
2,004,900
2,124,159
119,259
202,200
322,548
120,348
600,000
1,537,684
937,684
25,000
30,947
5,947
-
-
34,841
56,447
21,606
88,138,400
121,913,302
33,774,902
2,266,941
2,534,101
267,160
24,244,562
23,294,689
949,873
-
-
-
300
300
-
254,242,653
31,656,065
222,586,588
190,176
113,555
76,621
254,242,653
31,656,065
222,586,588
24,435,038
23,408,544
1,026,494
(166,104,253)
90,257,237
256,361,490
(22,168,097)
(20,874,443)
1,293,654
-
57,717
57,717
172,171
276,894
104,723
-
21,285,500
21,285,500
-
(4,913,824)
4,913,824
(1,277,600)
(1,277,600)
-
(4,913,824)
4,913,824
20,180,071
20,342,511
162,440
(171,018,077)
90,257,237
261,275,314
(1,988,026)
(531,932)
1,456,094
244,921,249 193,740,991 (51,180,258) 2,110,826 3,341,431 1,230,605
$ 73,903,172 $ 283,998,228 $ 210,095,056 $ 122,800 $ 2,809,499 $ 2,686,699
Reconciliation:
Net change in fund balance, budgetary basis $ 90,257,237
$ (531,932)
Change in fair value of investments (11,294,677)
(190,907)
Change in inventory
276,850
Interfund transfers in
-
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds -
Net change in fund balance, GAAP basis $ 78,962,560
$ (445,989)
See accompanying independent auditors' report
110
Unincorporated Area MSTD
(Budgetary Basis)
Budget
Actual
Variance
$ 56,304,500
$ 54,796,171 $
(1,508,329)
23,300
38,183
14,883
2,686,700
2,961,747
275,047
202,800
327,898
125,098
145,000
330,747
185,747
281,300
301,648
20,348
59,643,600 58,756,394 (887,206)
8,201,838
6,929,283
1,272,555
4,830,700
4,462,879
367,821
867,088
688,986
178,102
19,757,340
14,009,456
5,747,884
90,200
76,469
13,731
15,699,390 14,663,595 1,035,795
1,143,045 34,442 1,108,603
50,589,601 40,865,110 9,724,491
9,053,999 17,891,284 8,837,285
-
2,004
2,004
50,000
171,454
121,454
13,696,300
13,917,243
220,943
(28,750,160)
(28,625,552)
124,608
(15,003,860)
(14,534,851)
469,009
(5,949,861)
3,356,433
9,306,294
13,182,851
17,010,559
3,827,708
$ 7,232,990 $
20,366,992 $
13,134,002
$ 3,356,433
(1,562,673)
4,929
10,350,800
(10,350,800)
(140,081)
$ 1,658,608
Community Development
(Budgetary Basis)
Budget
Actual
Variance
24,971,000
30,837,179
5,866,179
-
3,706
3,706
3,149,200
4,043,641
894,441
182,000
336,194
154,194
50,100
53,640
3,540
28,352,300
35,274,360
6,922,060
10,933,259
9,436,156
1,497,103
26,191,443
22,119,237
4,072,206
1,519,800
1,452,887
66,913
399,000
389,951
9,049
417,500
417,500
39,461,002 33,398,231 6,062,771
(11,108,702) 1,876,129 12,984,831
1,006
1,006
-
647
647
1,590,800
1,468,202
(122,598)
(2,459,100)
(2,336,500)
122,600
(868,300)
(866,645)
1,655
(11,977,002)
1,009,484
12,986,486
33,717,702
42,118,912
8,401,210
$ 21,740,700 $
43,128,396 $
21,387,696
$ 1,009,484
(2,436,580)
(523,100)
$ (1,950,196)
111
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND
BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Water Management and Pollution Control
Pelican Bay
(Budgetary Basis)
(Budgetary Basis)
Budget Actual Variance
Budget
Actual
Variance
Revenues:
Taxes
$ 3,069,300 $ 2,955,114 $ (114,186) $
660,900
$ 635,608 $
(25,292)
Licenses, permits and impact fees
- -
-
-
Intergovernmental
- - -
-
-
Charges for services
186,500 294,198 107,698
363
363
Fines and forfeitures
- - -
-
-
-
Interest earnings
6,000 16,365 10,365
26,700
30,012
3,312
Special assessments
- - -
3,971,000
3,894,957
(76,043)
Miscellaneous
- -
54,200
55,882
1,682
Total revenues
3,261,800 3,265,677 3,877
4,712,800
4,616,822
(95,978)
Expenditures:
Current:
General government
Public safety
-
-
-
-
-
-
Physical environment
3,329,333
2,818,789
510,544
1,161,276
1,082,185
79,091
Transportation
-
-
-
3,607,928
3,480,981
126,947
Economic environment
-
-
-
Human services
Culture and recreation
-
-
-
Debt service
-
-
-
81,700
81,576
124
Capital outlay
74,102
8,073
66,029
323,187
641,742
(318,555)
Total expenditures
3,403,435
2,826,862
576,573
5,174,091
5,286,484
(112,393)
Excess (deficit) of revenues
over (under) expenditures
(141,635)
438,815
580,450
(461,291)
(669,662)
(208,371)
Other financing sources (uses):
Refunding loans issued
-
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
-
-
Leases
-
-
591,380
591,380
Sale of capital assets
377
377
12,950
12,950
Insurance proceeds
-
-
-
-
-
-
Transfers in
43,300
72,889
29,589
34,100
69,704
35,604
Transfers out
(644,000)
(633,701)
10,299
(714,400)
(632,390)
82,010
Total other financing sources (uses)
(600,700)
(560,435)
40,265
(680,300)
41,644
721,944
Net change in fund balances
(742,335)
(121,620)
620,715
(1,141,591)
(628,018)
513,573
Fund balances at beginning of year
1,667,935
1,902,702
234,767
2,696,691
3,282,132
585,441
Fund balances at end of year $
925,6 00 $
1,781,082 $
855,482 $
1,555,100 $
2,654,114 $
1,099,014
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
See accompanying independent auditors' report
$ (121,620)
(128,259)
(45,367)
$ (628,018)
(226,314)
112
Stormwater Utility
Hurricane Ian
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
62,500
62,500
10,000
24,729
14,729
30
30
-
4,622
4,622
-
72,500
91,851
19,351
-
30
30
-
-
-
185,000
-
185,000
-
-
-
30,000
-
30,000
9,044,996
6,662,130
2,382,866
385,000
608,773
(223,773)
-
-
-
250,000
-
250,000
15,000
15,000
15,000
15,000
120,000
120,000
293,417
30,039
263,378
-
-
-
9,338,413
6,692,169
2,646,244
1,000,000
608,773
391,227
(9,265,913)
(6,600,318)
2,665,595
1,000,000)
(608,743)
391,257
86,200
86,200
7,706,100
7,706,100
1,000,000 1,000,000
(22,600)
(22,600)
-
- -
7,683,500
7,769,700
86,200
1,000,000 1,000,000 -
(1,582,413)
1,169,382
2,751,795
391,257 391,257
1,783,113
1,777,653
(5,460)
- - -
$ 200,700 $
2,947,035
2,746,335
$ 391,257 $ 391,257
$ 1,169,382 $ 391,257
(183,785) (137)
49,705
$ 1,035,302 $ 391,120
113
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Improvement Districts Fire Control Districts
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
Taxes
$ 6,274,100 $
6,058,093 $
(216,007)
$ 1,508,800 $ 1,459,702 $
(49,098)
Licenses, permits and impact fees
-
-
- -
Intergovernmental
-
-
-
Charges for services
210,100
260,677
50,577
Fines and forfeitures
-
-
-
- -
-
Interest earnings
65,900
130,810
64,910
1,000 7,839
6,839
Special assessments
-
-
-
- -
-
Miscellaneous
-
1,084,812
1,084,812
1,200 -
(1,200)
Total revenues
6,550,100
7,534,392
984,292
1,511,000 1,467,541
(43,459)
Expenditures:
Current:
General government
-
-
-
Public safety
-
-
-
1,975,900
1,962,102
13,798
Physical environment
6,088,408
1,528,787
4,559,621
-
-
-
Transportation
2,551,770
1,385,905
1,165,865
Economic environment
-
-
-
Human services
-
-
-
Culture and recreation
1,122,190
989,544
132,646
-
-
-
Debt service
800
671
129
30,000
29,702
298
Capital outlay
7,966,975
1,652,065
6,314,910
-
-
-
Total expenditures
17,730,143
5,556,972
12,173,171
2,005,900
1,991,804
14,096
Excess (deficit) of revenues
over (under) expenditures
(11,180,043)
1,977,420
13,157,463
(494,900)
(524,263)
(29,363)
Other financing sources (uses):
Refunding loans issued
-
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
-
-
insurance proceeds
-
50,484
50,484
-
-
-
Transfers in
1,565,800
636,180
(929,620)
577,400
578,609
1,209
Transfers out
(2,481,900)
(912,577)
1,569,323
(49,900)
(43,516)
6,384
Total other financing sources (uses)
(916,100)
(225,913)
690,187
527,500
535,093
7,593
Net change in fund balances
(12,096,143)
1,751,507
13,847,650
32,600
10,830
(21,770)
Fund balances at beginning of year
17,280,719
15,753,529
(1,527,190)
318,000
247,055
(70,945)
Fund balances at end of year
$ 5,184,576 $
17, 005,036 $
12, 220,460
$ 550,600
$ 557,885
$ (92,715)
Reconciliation:
Net change in fund balance, budgetary basis
$
1,751,507
$ 10,830
Change in fair value of investments
(992,288)
(59,636)
Change in inventory
-
Interfund transfer in
925,966
Interfund transfer out
(925,966)
Advances budgeted as transfers
163,800
Unbudgeted funds
-
Net change in fund balance, GAAP basis
$
923, 119
$ (48,806)
See accompanying independent auditors' report
114
Lighting District
911 Enhancement Fee
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
ariance
Budget
Actual
ariance
$ 892,000
$ 860,685
$ (31,315)
$
$ $
1,800,000
2,224,092
424,092
3,500
6,556
3,056
11,900
15,107
3,207
-
84,120
84,120
-
-
895,500
951,361
55,861
1,811,900
2,239,199
427,299
2,896,096
1,961,213
934,883
900,900
700,577
200,323
-
-
-
-
929,981
(929,981)
900,900
700,577
200,323
2,896,096
2,891,194
4,902
(5,400)
250,784
256,184
(1,084,196)
(651,995)
432,201
7,407
7,407
(31,400)
(24,521)
6,879
(31,400)
(17,114)
14,286
-
(36,800)
233,670
(270,470)
(1,084,196)
(651,995)
432,201
596,900
599,289
2,389
1,523,600
1,821,771
298,171
$ 5 00,100
$ 332,959
$ (268,081)
$ 439,404
$ 1, 669,776 $
330,372
$ 233,670
$ (651,995)
(49,798)
(110,837)
115
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over(under)expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Payment to refunding bond escrow
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfer in
Interfund transfer out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
Tourist Development
State Housing Initiativeship Partnership
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
$ 29,849,900
$ 47,470,485 $
17,620,585
$
$ $
-
3,489,914
3,489,914
6,078,755
4,158,567
(1,920,188)
23,400
1,023,362
999,962
-
-
576,400
621,098
44,698
115,796
29,409
(86,387)
3,000
144,186
141,186
2,002,997
495,793
(1,507,204)
30,452,700
52,749,045
22,296,345
8,197,548
4,683,769
(3,513,779)
4,392,344
4,014,101
378,243
8,236,874
1,616,249
6,620,625
21,798,827
16,119,644
5,679,183
21,732,924
6,769,933
14,962,991
-
47,924,095
26,903,678
21,020,417
8,236,874
1,616,249
6,620,625
(17,471,395)
25,845,367
43,316,762
(39,326)
3,067,520
3,106,846
9,253
9,253
7,450,800
1,382,900
(6,067,900)
(11,479,600)
(7,450,710)
4,028,890
(31,571)
(31,571)
(4,028,800)
(6,058,557)
(2,029,757)
(31,571)
(31,571)
(21,500,195)
19,786,810
41,287,005
(39,326)
3,035,949
3,075,275
73,853,406
102,826,584
28,973,178
39,326
2,591,234
2,551,908
$ 52,353,211
$ 122,613,394 $
70,260,183
$ -
$ 5,627,183 $
5,627,183
$ 19,786,810 $ 3,035,949
(4,608,939) (212,913)
3,938,300
(3,938,300)
$ 15,177,871 $ 2,823,036
See accompanying independent auditors' report
116
800 MHZ IRCP Fund
State Court Administration
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual Variance
349,700
377,465
27,765
140,000
178,775
38,775
-
-
-
444,500
690,007
245,507
1,000
14,059
13,059
500
4,850
4,350
150,400
149,646
(754)
-
-
-
501,100
541,170
40,070
585,000
873,632
288,632
-
-
-
1,299,860
1,243,385
56,475
1,287,100
1,182,838
104,262
1,661,981
1,481,524
180,457
395,000 394,840 160
225,000 - 225,000 - - -
1,907,100 1,577,678 329,422 2,961,841 2,724,909 236,932
(1,406,000) (1,036,508) 369,492 (2,376,841) (1,851,277) 525,564
1,166,400
-
1,166,400
-
2,418,900
(201,700)
2,418,900
(201,700)
1,166,400
1,166,400
- 2,217,200
2,217,200 -
(239,600)
261,200
129,892
268,106
369,492 (159,641)
6,906 190,841
365,923 525,564
304,541 113,700
$ 21,600 $
397,998 $
376,398 $ 31,200 $
670,464 $ 639,264
$ 129,892 $ 365,923
(24,901) (34,936)
$ 1 44,991 $ 330,987
117
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Confiscated Property GAC Land Sales, Roads and Canals
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
Taxes $ $ $ $ $ $
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings 1,400 3,475 2,075 7,000 11,038 4,038
Special assessments - - - - - -
Miscellaneous - - - - 1258489 1258489
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
See accompanying independent auditors' report
1,400 3,475 2,075 7,000 1,269,527 1,262,527
12,500 12,000 500
5,000 3,517 1,483
12,500 12,000 500 5,000 3,517 1,483
(11,100) (8,525) 2,575 2,000 1,266,010 1,264,010
(11,100)
(8,525)
2,575
2,000
1,266,010
1,264,010
523,200
519,946
(3,254)
702,000
926,219
224,219
$ 512,100 $
111,421
$ (679) $
704,000 $
2, 992,229 $
1,488,229
$ (8,525)
(26,401)
$ 1,266,010
(77,731)
118
Utility Fee
Conservation Collier
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
$ 86,000
$ 125,342 $
39,342
$ 26,188,800
$ 25,203,908 $
(984,892)
-
898
898
-
-
100,000
100,000
-
54
54
4,800
7,469
2,669
395,000
310,984
(84,016)
-
27,900
301,913
274,013
190,800
233,709
42,909
26,611,700
25,816,859
(794,841)
342,100
281,306
60,794
1,570,705
128,328
442,377
-
-
-
14,296,570
910,964
13,385,606
342,100
281,306
60,794
15,867,275
2,039,292
13,827,983
(151,300)
(47,597)
103,703
10,744,425
3,777,567
13,033,142
9,883,900
202,857
(9,681,043)
(10,690,200)
(547,678)
10,142,522
(806,300)
(344,821)
461,479
(151,300)
(47,597)
103,703
9,938,125
3,432,746
13,494,621
1,179,700
1,229,869
50,169
26,086,846
26,082,796
(4,050)
$ 1,0 88,400
$ 1, 882,272 $
153,872
$ 36, 224,971
$ 49, 115,542 $
13, 990,571
$ (47,597) $ 23,432,746
(56,469) (2,293,356)
9,883,900
(9,883,900)
119
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Court Information Technology
(Budgetary Basis) Court Services
Budget Actual Variance Budget Actual
Revenues:
Taxes
$ $ $ $ $
$
Licenses, permits and impact fees
Intergovernmental
439,736
553,301
Charges for services
900,000 1,164,028 264,028 6,483,598
7,458,991
Fines and forfeitures
- - - -
-
Interest earnings
4,200 11,518 7,318 15,000
27,263
Special assessments
- - - -
-
Miscellaneous
- -
-
Total revenues
904,200 1,175,546 271,346 6,938,334
8,039,555
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over(under)expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
See accompanying independent auditors' report
Variance
113,565
975,393
12,263
1,101,221
1,243,503
904,784
338,719 6,938,334 8,039,555 (1,101,221)
35,400
16,780
18,620 - -
104,200
89,631
14,569
48,200
17,167
31,033 -
1,431,303
1,028,362
402,941 6,938,334 8,039,555 (1,101,221)
(527,103)
147,184
674,287 - -
1,125
1,125
1,125
1,125
(527,103)
148,309
675,412
753,103
1,558,052
804,949
$ 226,000 $
1,706,361 $
1,480,361 $ $ $
$ 148,309 $
(86,094)
$ 62,215 $ -
120
University Extension Court Facilities Fee
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
5,000 7,952 2,952 - -
- - - 810,000 1,027,832 217,832
170 170 35,000 56,867 1,867
5,000 8,122 3,122 845,000 1,084,699 239,699
4,190,528 138,949 4,051,579
37,300 34,724 2,576
- - 1,226,230 - 1,226,230
37,300 34,724 2,576 5,416,758 138,949 5,277,809
(32,300) (26,602) 5,698 (4,571,758) 945,750 5,517,508
(10,000) 10,000
(10,000) 10,000 - -
(42,300) (26,602) 15,698 (4,571,758) 945,750 5,517,508
42,600 42,278 (322) 7,948,067 101,498 153,431
$ 300 $ 15,676 $ 15,376 $ 3, 776,309 $ 9, 447,248 $ 5,670,939
$ (26,602) $ 945,750
(1,242) (426,879)
121
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Affordable Housing Economic and Innovation Zones
(Budgetary Basis) (Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
Revenues:
Taxes
$
$
$
$ 2,236,200 $
2,236,200
$
Licenses, permits and impact fees
-
-
Intergovernmental
Charges for services
10
(10)
Fines and forfeitures
-
-
-
-
Interest earnings
6,158
6,158
8,000
34,531
26,531
Special assessments
-
-
-
-
-
Miscellaneous
-
40
40
-
-
-
Total revenues
10
6,198
6,188
2,244,200
2,270,731
26,531
Expenditures:
Current:
General government
-
-
-
-
-
-
Public safety
Physical environment
Transportation
-
-
-
-
-
Economic environment
1,021,833
196,388
825,445
8,000
8,000
Human services
-
-
-
-
-
Culture and recreation
Debt service
Capital outlay
-
Total expenditures
1,021,833
196,388
825,445
8,000
-
8,000
Excess (deficit) of revenues
over (under) expenditures
(1,021,823)
(190,190)
831,633
2,236,200
2,270,731
34,531
Other financing sources (uses):
Refunding loans issued
-
-
-
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
-
-
Transfers in
223,400
223,400
Transfers out
-
-
Total other financing sources (uses)
223,400
223,400
-
-
-
-
Net change in fund balances
(798,423)
33,210
831,633
2,236,200
2,270,731
34,531
Fund balances at beginning of year
798,423
840,008
41,585
3,266,100
3,281,793
15,693
Fund balances at end of year
$
$ 873,218
$ 773,218
$ 5,502,300 $
5, 552,524
$ 50,224
Reconciliation:
Net change in fund balance, budgetary basis
$ 33,210
$
2,270,731
Change in fair value of investments
(47,046)
(258,773)
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
-
Net change in fund balance, GAAP basis
$ (13,836)
$
2,011,958
See accompanying independent auditors' report
122
Other Court Special Revenue Funds
Budget Actual Variance
Other Public Safety Revenue Funds
(Budgetary Basis)
Budget Actual Variance
1,500,000 1,477,643 (22,357) 69,700 1,133,639 1,063,939
- - - 86,200 89,209 3,009
12,000 55,351 43,351 5,800 209,434 203,634
1,512,000 1,532,994 20,994 161,700 1,432,282 1,270,582
3,666,600 155,709 3,510,891 - -
- - - 600,000 615,121 (15,121)
129,300 - 129,300 - -
3,795,900 155,709 3,640,191 600,000 615,121 (15,121)
(2,283,900) 1,377,285 3,661,185 (438,300) 817,161 1,255,461
(2,283,900) 1,377,285 3,661,185 (438,300) 817,161 1,255,461
6,669,784 7,172,126 502,342 1,383,600 4,229,099 2,845,499
$ 4,3 55,884 $ 8,549,411 $ 4, 663,527 $ 445,300 $ 5, 446,260 $ 4, 000,960
$ 1,377,285 $ 817,161
- (271,629)
O - a, I oo a 0Y0,00L
123
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Other Special Revenue Funds Resource Recovery Park Endowment
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
Taxes
$ - $
- $
- $
$
$
Licenses, permits and impact fees
60,000
51,058
(8,942)
Intergovernmental
-
-
-
Charges for services
248,100
278,441
30,341
8,200
(8,200)
Fines and forfeitures
40,000
46,640
6,640
-
Interest earnings
5,800
33,794
27,994
15,000
11,921
(3,079)
Special assessments
9,327,890
9,327,891
1
-
-
Miscellaneous
120,000
175,989
55,989
-
Total revenues
9,801,790
9,913,813
112,023
23,200
11,921
(11,279)
Expenditures:
Current:
General government
189,400
156,502
32,898
-
-
Public safety
162,800
162,800
-
-
-
-
Physical environment
-
-
51,100
33,823
17,277
Transportation
-
-
-
Economic environment
-
-
-
Human services
10,034,570
7,334,291
2,700,279
Culture and recreation
357,102
40,865
316,237
Debt service
-
-
-
Capital outlay
14,520
14,520
-
Total expenditures
10,758,392
7,694,458
3,063,934
51,100
33,823
17,277
Excess (deficit) of revenues
over (under) expenditures
(956,602)
2,219,355
3,175,957
(27,900)
(21,902)
5,998
Other financing sources (uses):
Refunding loans issued
-
-
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
-
-
Sale of capital assets
78
78
Insurance proceeds
-
-
-
Transfers in
202,000
202,000
Transfers out
-
-
-
Total other financing sources (uses)
202,000
202,078
78
-
Net change in fund balances
(754,602)
2,421,433
3,176,035
(27,900)
(21,902)
5,998
Fund balances at beginning of year
1,378,102
1,558,254
180,152
1,789,200
1,806,545
17,345
Fund balances at end of year
$ 623,500 $
3, 779,687 $
3, 556,187 $
1, 661,300 $
1,784,643 $
23,343
Reconciliation:
Net change in fund balance, budgetary basis $ 2,421,433 $ (21,902)
Change in fair value of investments (271,629) (90,233)
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds - -
Net change in fund balance, GAAP basis $ 2, 449,804 $ (112,135)
See accompanying independent auditors' report
124
Pepper Ranch Conservation Bank Pooled Commercial Paper Program
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
25,900 26,117 217 3 3
41,200 41,200
67,100 67,317 217 3 3
30,000 30,000
200,800 7,050 193,750
30,000 30,000 200,800 7,050 193,750
37,100 67,317 30,217 (200,800) (7,047) 193,753
1,460 1,460
200,000 6,175 (193,825)
(15,700) (15,700)
- - 184,300 (8,065) (192,365)
37,100 67,317 30,217 (16,500) (15,112) 1,388
3,932,300 3,940,000 7,700 16,500 16,570 70
$ 3,969,400 $ 4,007,317 $ 37,917 $ - $ 1,458 $ 1,458
$ 67,317 $ (15,112)
(198,349) (15)
S (131 wz $ (1S,1Z/)
125
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
See accompanying independent auditors' report
Gas Tax Refunding Revenue Bonds Forest Lakes Limited General
(Budgetary Basis) Obligation Bonds (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
1,900,000 2,110,817 210,817
1,000 8,386 7,386 (1,602) (1,602)
1,901,000 2,119,203 218,203 (1,602) (1,602)
13,304,700 13,289,120 15,580
13,304,700 13,289,120 15,580
(11,403,700) (11,169,917) 233,783 (1,602) (1,602)
11,300,000 11,300,000
11,300,000 11,300,000
(103,700) 130,083 233,783 (1,602) (1,602)
1,170,000 1,276,034 106,034 38,047 38,047
$ 1,066,300 $ 1,406,117 $ 339,817 $ $ 36,445 $ 36,445
$ 130,083 $ (1,602)
(67,718)
126
Special Obligation Refunding Revenue Bonds
Tourist Development Tax Revenue Bonds
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
8,100
11,439
3,339
5,000
11,660
6,660
8,100
11,439
3,339
5,000
11,660
6,660
25,047,900
24,318,850
729,050
3,731,500
3,720,275
11,225
25,047,900
24,318,850
729,050
3,731,500
3,720,275
11,225
(25,039,800)
(24,307,411)
732,389
(3,726,500)
(3,708,615)
17,885
108,425,000 108,425,000
(188,900) (188,900)
(108,043,700) (108,043,685)
24,574,200 24,574,200
15
3,217,100 3,217,100
24,766,600
24,766,615
15
3,217,100
3,217,100 -
(273,200)
1,578,500
459,204
1,723,726
732,404
145,226
(509,400)
2,950,200
(491,515) 17,885
2,958,771 8,571
$ 1,3 55,300 $
2, 882,930 $
877,630
$ 2, 440,800 $
2, 667,256 $ 26,456
$
459,204
(82,310)
$
(491,515)
(77,680)
127
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
County -Wide Capital Improvements
Parks Improvements
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
590,000
587,311
(2,689)
-
142
142
110,000
304,685
194,685
86,000
190,355
104,355
-
67,253
67,253
-
64
64
110,000
371,938
261,938
676,000
777,872
101,872
11,780,825
3,766,895
8,013,930
-
-
-
8,679,989
129,305
8,550,684
78,382
34,287
44,095
409,840
344,146
65,694
-
-
-
6,067
-
6,067
7,302,323
2,627,184
4,675,139
20,172,217
1,503,186
18,669,031
20,133,209
6,431,022
13,702,187
41,127,320
5,777,819
35,349,501
27,435,532
9,058,206
18,377,326
(41,017,320)
(5,405,881)
35,611,439
(26,759,532)
(8,280,334)
18,479,198
-
-
-
41,150
41,150
51,350
51,350
271,824
84,078
(187,746)
32,023,900
32,023,900
7,367,352
6,767,352
(600,000)
(5,582,617)
(8,681,039)
(3,098,422)
(1,992,784)
(1,960,129)
32,655
26,492,633
23,394,211
(3,098,422)
5,646,392
4,932,451
(713,941)
(14,524,687)
17,988,330
32,513,017
(21,113,140)
(3,347,883)
17,765,257
32,753,894
36,392,095
3,638,201
29,231,340
28,716,266
(515,074)
$ 18,229,207
$ 54,380,425 $
36,151,218
$ 8,118,200
$ 25,368,383 $
17,250,183
$ 17,988,330 $ (3,347,883)
(2,233,042) (1,465,415)
See accompanying independent auditors' report
128
County -Wide Library Impact Fees
Correctional Facilities Impact Fees
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual Variance
Budget
Actual
Variance
-
960,000
1,230,360
270,360
1,600,000
2,035,812
435,812
4,000
4,011
11
8,000
11,077
3,077
964,000
1,234,371
270,371
1,608,000
2,046,889
438,889
193,817
6,834
186,983
108,822
108,822
108,822
-
108,822
193,817
6,834
186,983
855,178
1,234,371
379,193
1,414,183
2,040,055
625,872
(1,758,100)
(1,758,100)
(2,079,900)
(2,079,900)
(1,758,100)
(1,758,100)
(2,079,900)
(2,079,900) -
(902,922)
974,122
(523,729)
1,117,289
379,193 (665,717)
143,167 2,241,717
(39,845) 625,872
2,157,087 (84,630)
$ 71,200 $
593,560 $
522,360 $ 1,576,000 $
2, 117,242 $ 541,242
$
(523,729)
(29,614)
$
(39,845)
(78,667)
129
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Emergency Medical Services Impact Fees
Water Management
(Budgetary Basis)
(Budgetary Basis)
Budget Actual Variance
Budget
Actual
Variance
Revenues:
Taxes
$ - $ - $ - $
$ $
Licenses, permits and impact fees
450,000 574,701 124,701
Intergovernmental
- - -
Charges for services
Fines and forfeitures
- -
Interest earnings
8,200 6,108 (2,092)
155,000
485,228
330,228
Special assessments
- -
-
-
-
Miscellaneous
- -
-
-
-
Total revenues
458,200 580,809 122,609
155,000
485,228
330,228
Expenditures:
Current:
General government
- - -
-
-
-
Public safety
145,030 3,171 141,859
-
-
-
Physical environment
- - -
4,672,022
3,071,763
1,600,259
Transportation
-
-
-
Economic environment
Human services
Culture and recreation
Debt service
- - -
-
-
-
Capital outlay
125,227 18,266 106,961
37,838,909
8,531,407
29,307,502
Total expenditures
270,257 21,437 248,820
42,510,931
11,603,170
30,907,761
Excess (deficit) of revenues
over (under) expenditures
187,943 559,372 371,429
(42,355,931)
(11,117,942)
31,237,989
Other financing sources (uses):
Refunding loans issued
- - -
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
-
-
Transfers in
17,120,800
11,919,800
(5,201,000)
Transfers out
(1,456,500) (1,456,500)
(8,746,802)
(211,196)
8,535,606
Total other financing sources (uses)
(1,456,500) (1,456,500)
8,373,998
11,708,604
3,334,606
Net change in fund balances
(1,268,557) (897,128) 371,429
(33,981,933)
590,662
34,572,595
Fund balances at beginning of year
1,546,957 1,594,129 47,172
65,784,083
70,769,782
4,985,699
Fund balances at end of year
$ 278,400 $ 997,001 $ 118,601 $
31, 002,150
$ 71, 660,444 $
39, 558,294
Reconciliation:
Net change in fund balance, budgetary basis
$ (897,128)
$ 590,662
Change in fair value of investments
(47,843)
(3,681,865)
Change in inventory
Interfund transfer in
Interfund transfer out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
$ (944,971)
$ (3,091,203)
See accompanying independent auditors' report
130
Pelican Bay Capital Improvements Parks Impact Districts
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
10,075,000 3,616,870 541,870
9,600 4,523 44,923 212,000 09,652 97,652
2,153,200 005,124 (148,076) - - -
2,162,800 059,647 (103,153) 10,287,000 3,926,522 3,639,522
792,556 690,955 101,601
261,085 8,431 252,654
15,490,729 3,839,731 11,650,998 43,439,634 2,787,420 0,652,214
16,283,285 4,530,686 11,752,599 43,700,719 2,795,851 40,904,868
(14,120,485) (2,471,039) 11,649,446 (33,413,719) 11,130,671 44,544,390
10,000,000 998,540 (9,001,460)
201
201
960,000
76,340
6,340
(344,200)
(105,580)
238,620
3,710,500)
(3,710,500)
-
10,615,800
869,300
8,746,500)
(3,710,500)
(3,710,299)
201
(3,504,685)
(601,739)
2,902,946
(37,124,219)
7,420,372
44,544,591
7,292,985
7,214,673
(78,312)
43,830,319
44,002,393
172,074
$ 3,788,300
6,612,934 $
2,824,634 $
6,706,100
51,422,765 $
44,716,665
$ (601,739) $ 7,420,372
(414,935) (2,287,328)
131
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service
Capital outlay
Total expenditures
Excess (deficit) of revenues
over (under) expenditures
Other financing sources (uses):
Refunding loans issued
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances at beginning of year
Fund balances at end of year
Reconciliation:
Net change in fund balance, budgetary basis
Change in fair value of investments
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
See accompanying independent auditors' report
Road Impact Districts
Road Construction
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
$ -
$ - $
-
$ 16,100,000
$ 17,242,504 $
1,142,504
16,000,000
31,793,220
15,793,220
-
-
-
-
-
-
4,500,000
4,841,578
341,578
4,500
19,896
15,396
1,110,000
750,443
(359,557)
348,200
356,858
8,658
-
5
5
1,653,560
1,167,704
(485,856)
17,110,000
32,543,668
15,433,668
22,606,260
23,628,540
1,022,280
9,030,812
1,009,851
8,020,961
15,477,474
14,716,147
761,327
102,240,841
16,356,362
85,884,479
74,989,703
5,277,574
69,712,129
111,271,653
17,366,213
93,905,440
90,467,177
19,993,721
70,473,456
(94,161,653) 15,177,455 109,339,108 (67,860,917) 3,634,819 71,495,736
27,195,900 - (27,195,900)
99,500
99,500
60,865
60,865
-
11,817,300
11,817,300
-
(9,087,900)
(3,695,777)
5,392,123
(27,751,768)
(18,332,599)
9,419,169
(9,087,900)
(3,596,277)
5,491,623
11,322,297
(6,454,434)
(17,776,731)
(103,249,553)
11,581,178
114,830,731
(56,538,620)
(2,819,615)
53,719,005
104,229,153
105,948,230
1,719,077
58,837,052
55,915,038
(2,922,014)
$ 979,600 $
117, 229,408
$ 116, 449,808
$ 2, 998,432
$ 53, 995,423 $
50, 996,991
$ 11,581,178 $ (2,819,615)
(5,590,702) (2,741,162)
132
Government Facilities Impact Fees
Law Enforcement Impact Fees
(Budgetary Basis)
(Budgetary Basis)
Budget
Actual Variance
Budget
Actual Variance
2,800,000
3,781,504 981,504
1,820,000
2,261,853 441,853
15,000
22,837 7,837
10,000
18,271 8,271
2,815,000
3,804,341 989,341
1,830,000
2,280,124 450,124
152,232 26,701 125,531 - - -
- - - 158,584 3,868 154,716
152,232 26,701 125,531 158,584 3,868 154,716
2,662,768 3,777,640 1,114,872 1,671,416 2,276,256 604,840
6 6
1,832,000 1,832,000
(5,595,500) (5,595,500) - (1,835,300) (1,835,300)
(3,763,500) (3,763,494) 6 (1,835,300) (1,835,300) -
(1,100,732) 14,146 1,114,878 (163,884) 440,956 604,840
4,114,132 4,064,063 (50,069) 2,355,284 2,652,378 297,094
$ 3,0 33,400 $ 4, 778,209 $ 1, 664,809 $ 2, 991,400 $ 3 993,334 $ 001,934
$ 14,146 $ 440,956
(164,085) (136,263)
$ (149,939) $ 304,693
133
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
NONMAJOR GOVERNMENTAL FUNDS
For The Fiscal Year Ended September 30, 2022
All Terrain Vehicle Park Amateur Sports Complex
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
Taxes $ - $ - $ - $ - $ - $
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
-
-
-
-
-
Interest earnings
15,000
21,196
6,196
150,000
180,813
30,813
Special assessments
-
-
-
-
-
-
Miscellaneous
-
-
Total revenues
15,000
21,196
6,196
150,000
180,813
30,813
Expenditures:
Current:
General government
-
-
-
-
-
-
Public safety
Physical environment
Transportation
Economic environment
Human services
-
-
-
-
Culture and recreation
198,570
1,400
197,170
93,489
(93,489)
Debt service
-
-
-
-
-
-
Capital outlay
-
45,430,932
16,958,070
28,472,862
Total expenditures
198,570
1,400
197,170
45,430,932
17,051,559
28,379,373
Excess (deficit) of revenues
over (under) expenditures
(183,570)
19,796
203,366
(45,280,932)
(16,870,746)
28,410,186
Other financing sources (uses):
Refunding loans issued
-
-
-
Loansissued
Discount on refunding loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
-
-
Transfers in
15,706,200
11,459,377
(4,246,823)
Transfers out
-
-
Total other financing sources (uses)
15,706,200
11,459,377
(4,246,823)
Net change in fund balances
(183,570)
19,796
203,366
(29,574,732)
(5,411,369)
24,163,363
Fund balances at beginning of year
3,184,370
3,183,713
(657)
29,582,232
5,286,022
(24,296,210)
Fund balances at end of year
$ 3, 000,800
$ 3, 003,509 $
002,709
$ 7,500
$ (125,347)
$ (132,847)
Reconciliation:
Net change in fund balance, budgetary basis
$ 19,796
$ (5,411,369)
Change in fair value of investments
(160,089)
(1,379,686)
Change in inventory
Interfund transfers in
Interfund transfers out
Advances budgeted as transfers
Unbudgeted funds
Net change in fund balance, GAAP basis
$ (140,293)
$ (6,791,055)
See accompanying independent auditors' report
134
Other Capital Projects
(Budgetary Basis)
Budget Actual Variance
S 14,600 $ 14,085 $ (515)
8,000 19,474 11,474
- 123 123
2,000 2,000 -
6,700 82,980 76,280
31,300 118,662 87,362
61,509
757,757
(696,248)
69,517
-
69,517
434,469
162,911
271,558
12,591,222
230,514
12,360,708
13,156,717
1,151,182
12,005,535
(13,125,417) (1,032,520) 12,092,897
-
3,560
3,560
2,472,000
2,472,176
176
(160,088)
(68,378)
91,710
2,311,912
2,407,358
95,446
(10,813,505)
1,374,838
12,188,343
11,349,006 11,331,831 (17,175)
$ 335,501 $ 12, 006,669 $ 12, 771,168
$ 1,374,838
(624,411)
135
11:IPyTe[HMION1:10IN[670MAN aIII anQW_\01:/
NONMAJOR ENTERPRISE FUNDS
AIRPORT AUTHORITY - To account for the provision of landing facilities and the sale of fuel at the airports.
COLLIER AREA TRANSIT - To account for the provision of public transportation throughout the County.
137
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF NET POSITION
NONMAJOR ENTERPRISE FUNDS
September 30, 2022
ASSETS
Current assets:
Cash and investments
Receivables:
Trade, net
Interest
Leases
Due from other funds
Due from other governments
Inventory
Restricted assets:
Cash and investments
Due from other governments
Total current assets
Noncurrent assets:
Receivables:
Leases
Capital assets:
Land and nondepreciable capital assets
Depreciable capital assets, net
Total noncurrent assets
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to OPEB
Deferred outflows of resources related to pensions
Total deferred outflows of resources
LIABILITIES
Current liabilities:
Accounts payable
Wages payable
Due to other governments
Unearned revenues
Compensated absences
Net pension liability
Liabilities payable from restricted assets:
Accounts payable
Retainage payable
Due to other governments
Refundable deposits
Total current liabilities
Noncurrent liabilities:
Advances from other funds
Compensated absences
Total OPEB liability
Net pension liability
Total noncurrent liabilities
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Deferred inflows of resources related to leases
Deferred inflows of resources related to OPEB
Deferred inflows of resources related to pensions
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted for grants and other purposes
Unrestricted
Total net position
See accompanying independent auditors' report
Total
Collier Nonmajor
Airport Area Enterprise
Authority Transit Funds
$ 7,088,952 $ 2,788,822 $ 9,877,774
2,237
16,237 18,474
8,830
4,838 13,668
103,440
- 103,440
-
28,497 28,497
1,952
- 1,952
185,593
- 185,593
415,519 296,790 712,309
850,865 3,322,111 4,172,976
8,657,388 6,457,295 15,114,683
1,783,953 - 1,783,953
2,498,935
6,123,864
8,622,799
49,207,830
19,056,446
68,264,276
53,490,718
25,180,310
78,671,028
62,148,106
31,637,605
93,785,711
1,965 1,035 3,000
236,110 91,958 328,068
238,075 92,993 331,068
343,987
609,840
953,827
66,221
25,886
92,107
6,668
6,037
12,705
15,583
-
15,583
91,343
24,687
116,030
317
93
410
32,836
401,943
434,779
26,868
-
26,868
-
117,960
117,960
9,826
100
9,926
593,649
1,186,546
1,780,195
1,600,425
-
1,600,425
22,836
6,172
29,008
58,663
17,254
75,917
927,021
344,624
1,271,645
2,608,945
368,050
2,976,995
3,202,594
1,554,596
4,757,190
1,857,627
- 1,857,627
14,230
4,478 18,708
58,567
17,847 76,414
1,930,424
22,325 1,952,749
51,561,177 25,066,916 76,628,093
1,196,853 3,212,292 4,409,145
4,495,133 1,874,469 6,369,602
$ 57,253,163 $ 30,153,677 $ 87, 006.840
138
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
NONMAJOR ENTERPRISE FUNDS
For The Fiscal Year Ended September 30, 2022
Total
Collier
Nonmajor
Airport
Area
Enterprise
Authority
Transit
Funds
Operating revenues:
Charges for services
$ 9,687,439
$ 985,007
$ 10,672,446
Miscellaneous
14,975
155,267
170,242
Total operating revenues
9,702,414
1,140,274
10,842,688
Operating expenses:
Personal services
1,415,315
506,164
1,921,479
General and administrative
6,831,641
12,164,029
18,995,670
Depreciation
2,379,955
2,161,841
4,541,796
Total operating expenditures
10,626,911
14,832,034
25,458,945
Operating loss
(924,497)
(13,691,760)
(14,616,257)
Non -operating revenues (expenses):
Operating grants and contributions
76,424
6,277,688
6,354,112
Interest earnings
(277,404)
(155,606)
(433,010)
Insurance reimbursement
3,105
3,105
Interest expense
(12,632)
(12,632)
Loss on disposal of capital assets
(979,455)
(19,103)
(998,558)
Total non -operating revenues (expenses)
(1,189,962)
6,102,979
4,913,017
Loss before contributions and transfers
(2,114,459)
(7,588,781)
(9,703,240)
Capital grants and contributions
5,616,470
4,354,728
9,971,198
Transfers in
-
5,951,764
5,951,764
Transfers out
(135,900)
-
(135,900)
Total transfers and contributions
5,480,570
10,306,492
15,787,062
Changes in net position
3,366,111
2,717,711
6,083,822
Net position - beginning
53,887,052
27,435,966
81,323,018
Net position - ending
$ 57,253,163
$ 30,153,677
$ 87,406,840
See accompanying independent auditors' report
139
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
NONMAJOR ENTERPRISE FUNDS
For The Fiscal Year Ended September 30, 2022
Total
Collier
Nonmajor
Airport
Area
Enterprise
Authority
Transit
Funds
Cash flows from operating activities:
Cash received for services
$
9,779,585 $
1,139,461
$ 10,919,046
Cash payments for goods and services
(6,568,294)
(8,918,296)
(15,486,590)
Cash payments to employees
(1,273,440)
(501,867)
(1,775,307)
Cash payments for interfund services
(586,649)
(3,568,389)
(4,155,038)
Net cash provided by (used for) operating activities
1,351,202
(11,849,091)
(10,497,889)
Cash flows from non -capital financing activities:
Cash received from operating grants
87,145
6,324,240
6,411,385
Cash transfers (to) from other funds
(659,000)
5,950,325
5,291,325
Net cash provided by (used for) non -capital financing activities
(571,855)
12,274,565
11,702,710
Cash flows from capital and related financing activities:
Receipts from insurance reimbursements
3,105
-
3,105
Proceeds from disposal of capital assets
471
2,772
3,243
Proceeds from capital grants
8,203,051
4,318,617
12,521,668
Proceeds from leasing activities
204,937
-
204,937
Payments for capital acquisitions
(8,372,579)
(3,082,889)
(11,455,468)
Net cash provided by capital and related financing activities
38,985
1,238,500
1,277,485
Cash flows from investing activities:
Interest on investments
(278,984)
(158,616)
(437,600)
Net cash used for investing activities
(278,984)
(158,616)
(437,600)
Net increase in cash and investments
539,348
1,505,358
2,044,706
Cash and investments, October 1, 2021
6,965,123
1,580,254
8,545,377
Cash and investments, September 30, 2022
$
7,5 44,471 $
3, 885,612
$ 10, 990,083
Cash and investments
$
7,088,952 $
2,788,822
$ 9,877,774
Cash and investments - restricted
415,519
296,790
712,309
Cash and investments, September 30, 2022
$
7,504,471 $
3,085,612
$ 10,590,083
Operating loss
$
(924,497) $
(13,691,760)
$ (14,616,257)
Adjustments to reconcile operating loss to net cash
provided by operating activities:
Depreciation expense
2,379,955
2,161,841
4,541,796
Net changes in assets and liabilities:
Trade receivable
82,006
(722)
81,284
Inventory
(99,902)
-
(99,902)
Accounts payable
(8,987)
(322,656)
(331,643)
Wages payable
16,629
5,222
21,851
Due to other governments
1,399
(91)
1,308
Compensated absences
33,516
(1,860)
31,656
Unearned revenue
(6,234)
(6,234)
Total OPEB liability
(4,919)
(2,615)
(7,534)
Deferred outflows of resources related to OPEB
1,966
579
2,545
Deferred inflows of resources related to OPEB
9,082
2,671
11,753
Net pension liability
515,009
187,730
702,739
Deferred outflows of resources related to pensions
(55,814)
(16,405)
(72,219)
Deferred inflows of resources related to pensions
(373,594)
(171,025)
(544,619)
Deferred inflows of resources related to leases
(214,413)
-
(214,413)
Total adjustments
2,275,699
1,842,669
4,118,368
Net cash provided by (used for) operating activities
$
1,351,202 $ (11,849,091)
$ (10,497,889)
Non -cash investing, capital and financing activities:
Change in fair value of investments
$
(353,864) $
(180,069)
$ (533,933)
Contributed capital assets
21,972
21,972
Change in capital related grant receivable
(2,586,581)
14,139
(2,572,442)
Capital related accounts payable
118,720
110,543
229,263
Capital related retainage payable
26,868
-
26,868
See accompanying independent auditors' report
140
INTERNAL SERVICE FUNDS
SELF-INSURANCE — To account for the self-insurance costs of providing coverage for property, general and vehicle liability. To
account for the provisions of health benefits to Board and participating constitutional officer employees and their dependents.
To account for payment of workers' compensation claims, in lieu of insurance.
SHERIFF'S SELF-INSURANCE — To account for the provisions of health benefits to Sheriff employees and their dependents. To
account for payment of workers' compensation claims, in lieu of insurance.
FLEET MANAGEMENT — To account for fuel, oil, lubricants, repairs and maintenance of County vehicles and the use of certain
County owned vehicles by County employees.
MOTOR POOL CAPITAL RECOVERY — To account for the accumulation of resources for the replacement of vehicles and heavy
equipment for County governmental activities.
INFORMATION TECHNOLOGY — To account for the costs of operating the County data processing facility and telephone
communication system.
141
ASSETS
Current assets:
Cash and investments
Receivables:
Trade, net
Interest
Due from other governments
Inventory
Prepaid costs
Total current assets
Noncurrent assets:
Capital assets:
Depreciable capital assets, net
Total noncurrent assets
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows of resources related to OPEB
Deferred outflows of resources related to pensions
Total deferred outflows of resources
LIABILITIES
Current liabilities:
Accounts payable
Wages payable
Due to other governments
Unearned revenues
Self-insurance claims payable
Compensated absences
Net pension liability
Lease payable
Total current liabilities
Noncurrent liabilities:
Self-insurance claims payable
Compensated absences
Lease payable
Total OPEB liability
Net pension liability
Total noncurrent liabilities
Total liabilities
Deferred inflows of resources related to OPEB
Deferred inflows of resources related to pensions
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Unrestricted
Total net position
See accompanying independent auditors' report
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF NET POSITION
INTERNAL SERVICE FUNDS
September 30, 2022
Sheriffs Motor Pool
Self- Self- Fleet Capital Information
Insurance Insurance Management Recovery Technology Total
$ 42,122,865 $ 16,329,084 $ 2,098,339 $ 17,536,990 $ 6,776,143 $ 84,863,421
956,772 248,164
- -
-
1,204,936
58,158 18,488
1,935 21,856
9,921
110,358
- -
93,987 -
3,597
97,584
-
634,723
-
634,723
2,076,935
- -
77,031
2,153,966
45,214,730 16,595,736
2,828,984 17,558,846
6,866,692
89,064,988
217,849 7,888,786 8,430,645 3,113,430 19,650,710
217,849 7,888,786 8,430,645 3,113,430 19,650,710
45,432,579 16,595,736 10,717,770 25,989,491 9,980,122 108,715,698
2,948 5,087 196 9,584 17,815
285,617 479,143 15,009 822,947 1,602,716
288,565 484,230 15,205 832,531 1,620,531
849,129
386,505
35,368 496,433
1,767,435
68,732
132,770
- 219,812
421,314
4,193
35,084
-
39,277
38,699 108,711
-
147,410
6,007,974 3,465,000
-
9,472,974
100,117 -
132,438
50 228,702
461,307
242
443
- 779
1,464
3,284 -
-
- -
3,284
7,072,370 3,573,711
687,240
35,418 945,726
12,314,465
2,410,072
-
-
-
2,410,072
25,029
33,109
12
57,176
115,326
3,615
-
-
-
3,615
44,860
89,720
3,451
138,031
276,062
1,044,757
1,772,828
47,980
3,054,251
5,919,816
3,528,333
1,895,657
51,443
3,249,458
8,724,891
10,600,703 3,573,711 2,582,897 86,861 4,195,184 21,039,356
11,778 23,656 890 37,025 73,349
47,679 86,085 413 150,678 284,855
59,457 109,741 1,303 187,703 358,204
210,950 - 7,888,786 8,395,277 3,113,430 19,608,443
34,850,034 13,022,025 620,576 17,521,255 3,316,336 69,330,226
$ 35,060,984 $ 13,022,025 $ 8,509,362 $ 25,916,532 $ 6,429,766 $ 88,938,669
142
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
INTERNAL SERVICE FUNDS
For The Fiscal Year Ended September 30, 2022
Sheriffs Motor Pool
Self- Self- Fleet Capital Information
Insurance Insurance Management Recovery Technology Total
Operating revenues:
Charges for services $ 57,708,148 $ 33,231,472 $ 11,903,152 $ 5,089,659 $ 13,934,461 $ 121,866,892
Miscellaneous 1,085,874 - 19,416 - 1,920 1,107,210
Total operating revenues 58,794,022 33,231,472 11,922,568 5,089,659 13,936,381 122,974,102
Operating expenses:
Personal services
1,455,678
-
2,687,055
54,551
3,958,827
8,156,111
General and administrative
12,421,504
743,150
8,870,775
14,462
7,150,944
29,200,835
Insurance claims paid
45,018,853
31,144,679
-
-
-
76,163,532
Depreciation and amortization
48,064
-
637,664
2,190,026
867,713
3,743,467
Total operating expenditures
58,944,099
31,887,829
12,195,494
2,259,039
11,977,484
117,263,945
Operating income (loss)
(150,077)
1,343,643
(272,926)
2,830,620
1,958,897
5,710,157
Non -operating revenues (expenses):
Interest earnings
(2,038,025)
(883,124)
(71,053)
(783,705)
(310,375)
(4,086,282)
Insurance reimbursement
431,490
184,533
616,023
Interest expense
(129)
-
-
-
(129)
Gain (loss) on disposal of capital assets
377
29,650
(299,669)
(859)
(270,501)
Total non -operating revenues (expenses)
(1,606,287)
(883,124)
(41,403)
(898,841)
(311,234)
(3,740,889)
Income before contributions
and transfers
(1,756,364)
460,519
(314,329)
1,931,779
1,647,663
1,969,268
Capital grants and contributions
-
-
7,519
7,519
Transfers in
200,000
41,200
500,000
741,200
Transfers out
(76,600)
(113,600)
-
(300,000)
(490,200)
Total transfers and contributions
(76,600) -
86,400
41,200
207,519
258,519
Changes in net position
(1,832,964) 460,519
(227,929)
1,972,979
1,855,182
2,227,787
Net position - beginning
36,893,948 12,561,506
8,737,291
23,943,553
4,574,584
86,710,882
Net position - ending
$ 35,060,984 $ 13,022, 225 $
8,509,362 $
25,916,532 $
6,429,766 $
88,938,669
See accompanying independent auditors' report
143
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
For The Fiscal Year Ended September 30, 2022
Cash flows from operating activities:
Cash received from other funds for services
Cash received from other governments for services
Cash received from employees for services
Cash received from retirees for services
Cash payments on behalf of retirees
Cash payments for goods and services
Cash payments for self insurance claims
Cash payments to employees
Cash payments for interfund services
Net cash provided by operating activities
Cash flows from non -capital financing activities:
Cash transfers from other funds
Cash transfers to other funds
Net cash provided by (used for) non -capital
financing activities
Cash flows from capital and related financing activities:
Receipts from insurance reimbursements
Proceeds from disposal of capital assets
Payments for capital acquisitions
Principal payments on leases
Interest and fiscal agent fees paid
Net cash provided by (used for) capital and
related financing activities
Cash flows from investing activities:
Interest on investments
Net cash used for investing activities
Net increase (decrease) in cash and investments
Cash and investments, October 1, 2021
Cash and investments, September 30, 2022
Sheriffs Motor Pool
Self- Self- Fleet Capital Information
Insurance Insurance Management Recovery Technology Total
$ 50,827,008 $ 32,950,000 $ 11,430,160 $ 5,089,659 $ 13,936,486 $ 114,233,313
- - 413,289 - - 413,289
7,484,925 - - 7,484,925
726,184 1,485,894 2,212,078
(1,489,636) - (1,489,636)
(9,854,366) (2,781,924) (8,626,059) (7,662) (5,965,549) (27,235,560)
(45,018,853) (28,831,290) (73,850,143)
(1,432,332) (2,676,491) (86,605) (4,205,129) (8,400,557)
(888,603) (404,916) (6,800) (428,387) (1,728,706)
354,327 2,822,680 135,983 4,988,592 3,337,421 11,639,003
200,000 41,200 500,000 741,200
(76,600) (113,600) - (300,000) (490,200)
(76,600) 86,400 41,200 200,000 251,000
419,901
- 184,533
- 604,434
377
29,650 83,500
3,259 116,786
(6,980)
(189,699) (2,322,079)
(909,418) (3,428,176)
(3,233)
(3,233)
(129)
(129)
409,936
(160,049) (2,054,046)
(906,159) (2,710,318)
(2,037,804) (875,909) (71,051) (788,144) (313,893) (4,086,801)
(2,037,804) (875,909) (71,051) (788,144) (313,893) (4,086,801)
(1,350,141) 1,946,771 (8,717) 2,187,602 2,317,369 5,092,884
43,473,006 14,382,313 2,107,056 15,349,388 4,458,774 79,770,537
$ 42,122,865 $ 16,329,084 $ 2,098,339 $ 17,536,990 $ 6,776,143 $ 84,863,421
(Continued)
144
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
For The Fiscal Year Ended September 30, 2022
Sheriffs
Motor Pool
Self-
Self-
Fleet
Capital
Information
Insurance
Insurance Management
Recovery
Technology
Total
Operating income (loss)
$ (150,077) $
1,343,643 $
(272,926) $
2,830,620
$ 1,958,897 $
5,710,157
Adjustments to reconcile operating income (loss) to net cash provided by operating activities:
Depreciation and amortization expense
48,064
-
637,664
2,190,026
867,713
3,743,467
Net changes in assets and liabilities:
Trade receivable
(501,471)
45,615
-
-
-
(455,856)
Due from other funds
16,480
1,200,003
-
1,216,483
Due from other governments
-
-
(79,119)
105
(79,014)
Inventory
-
(169,438)
-
(169,438)
Prepaid costs
306,508
555,563
862,071
Accounts payable
(57,172)
(5,392)
201,445
138,881
Wages payable
11,067
24,517
(4,253)
21,721
53,052
Due to other funds
(60,000)
-
-
(60,000)
Due to other governments
(437)
14,630
14,193
Compensated absences
16,617
(15,050)
(10,447)
(14,374)
(23,254)
Unearned revenue
19,449
4,419
23,868
Self-insurance claims payable
709,637
229,000
-
938,637
Total OPEB liability
(6,801)
-
(17,574)
(523)
(32,845)
(57,743)
Deferred outflows of resources related to OPEB
1,504
3,007
116
4,626
9,253
Deferred inflows of resources related to OPEB
6,945
13,890
534
21,369
42,738
Net pension liability
604,431
964,920
17,522
1,599,821
3,186,694
Deferred outflows of resources related to pensions
(52,005)
(95,430)
(976)
(73,499)
(221,910)
Deferred inflows of resources related to pensions
(558,412)
(867,716)
(34,027)
(1,773,121)
(3,233,276)
Total adjustments
504,404
1,479,037
408,909
2,157,972
1,378,524
5,928,846
Net cash provided by operating activities
$ 554,327 $
2,822,680 $
335,983 $
4, 888,592
$ 3, 337,421 $
11,639,003
Non -cash investing, capital and financing activities:
Change in fair value of investments $ (2,356,266) $
Contributed capital assets
Capital related accounts payable
See accompanying independent auditors' report
$ (82,154) $ (903,861) $ (359,984) $ (3,702,265)
7,519 7,519
35,368 35,368
145
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FIDUCIARY FUNDS
CLERK OF COURTS CUSTODIAL FUND -To account for monies held in Trust by the Clerk of the Circuit Court prior to disbursement.
SHERIFF CUSTODIAL FUND - To account for monies held in a custodial capacity by the Sheriff.
TAX COLLECTOR CUSTODIAL FUND - To account for assets held by the Tax Collector prior to legal disbursement.
147
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY NET POSITION
CUSTODIAL FUNDS
September 30, 2022
Clerk
Tax
of Courts
Sheriff
Collector
Custodial Fund
Custodial Fund
Custodial Fund
Total
ASSETS
Cash and investments
$
21,530,987
$ 384,842
$ 4,348,591
$ 26,264,420
Trade receivable, net
-
2,742
13,684
16,426
Total assets
$
21,530,987
$ 387,584
$ 4,362,275
$ 26,280,846
LIABILITIES
Due to other governments
$
3,139,399
$
$ 4,229,241
$ 7,368,640
Due to individuals
-
86,377
133,034
219,411
Total liabilities
$
3,139,399
$ 86,377
$ 4,362,275
$ 7,588,051
FIDUCIARY NET POSITION
Restricted for individuals and governments
$
18,391,588
$ 301,207
$ -
$ 18,692,795
See accompanying independent auditors' report
148
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION
CUSTODIAL FUNDS
For The Fiscal Year Ended September 30, 2022
Clerk
Tax
of Courts
Sheriff
Collector
Custodial Fund
Custodial Fund
Custodial Fund
Total
ADDITIONS:
Contributions for individuals
$ 25,656,571
$ 3,770,663
$ - $
29,427,234
Fees collected for other governments
2,481,706
360,674
321,474,119
324,316,499
Miscellaneous
-
2,391
76,273
78,664
Total additions
28,138,277
4,133,728
321,550,392
353,822,397
DEDUCTIONS:
Beneficiary payments to individuals
33,254,887
3,739,858
-
36,994,745
Payment of fees to other governments
2,537,388
132,696
321,550,392
324,220,476
Payments to other entities
-
243,640
-
243,640
Total deductions
35,792,275
4,116,194
321,550,392
361,458,861
Net increase in fiduciary net position
(7,653,998)
17,534
-
(7,636,464)
Fiduciary net position - beginning of year
26,045,586
283,673
26,329,259
Fiduciary net position - end of year
$ 18,391,588
$ 301,207
$ S
18,692,795
149
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COMPONENT UNITS
COLLIER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY - The authority was established for the purpose of facilitating
projects that promote economic growth and opportunities for employment in Collier County.
COLLIER COUNTY HEALTH FACILITIES AUTHORITY - The authority was established for the purpose of assisting health facilities
in the acquisition, construction and financing of projects within the County.
COLLIER COUNTY HOUSING FINANCE AUTHORITY - The authority was established for the purpose of stimulating the construction
of residential housing for low and moderate income families through the use of public financing.
COLLIER COUNTY EDUCATIONAL FACILITIES AUTHORITY - The authority was established for the purpose of assisting
institutions of higher education in the construction, financing and refinancing of projects.
151
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF NET POSITION
COMPONENT UNITS
September 30, 2022
Industrial Health Housing Educational
Development Facilities Finance Facilities
Authority Authority Authority Authority Total
ASSETS
Cash and investments $ 123,713 $ 53,592 $ 286,420 $ 11,836 $ 475,561
Total assets $ 123,713 $ 53,592 $ 286,420 $ 11,836 $ 475,561
NET POSITION
Net position - unrestricted $ 123,713 $ 53,592 $ 286,420 $ 11,836 $ 475,561
Total Net Position $ 123,713 $ 53,592 $ 286,420 $ 11,836 $ 475,561
See accompanying independent auditors' report
152
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF ACTIVITIES
COMPONENT UNITS
For The Fiscal Year Ended September 30, 2022
Revenues
Fees, Fines and Operating Grants
Functions/Programs Expenses Charges for Services and Contributions
Industrial Development Authority $ 7,675 $ - $
Health Facilities Authority 4,687 41,250
Housing Finance Authority 8,125 60,500
Educational Facilities Authority 1,189 8,273
Total $ 21,676 $ 110,023 $
See accompanying independent auditors' report
General revenues:
Miscellaneous revenue
Total general
revenues
Change in net position
Net position - beginning
Net position - ending
Net (Expense)
Revenue and Changes
in Net Position
Governmental
Activities
$ (7,675)
36,563
52,375
7,084
$ 88,347
131
88,478
387,083
$ 475,561
153
11:IPyTe[HMION1:10IN[670MAN aIII anQW_\01:/
OTHER SUPPLEMENTAL INFORMATION
Schedule of receipts and expenditures of funds related to the Deepwater Horizon Oil Spill.
155
COLLIER COUNTY, FLORIDA
SCHEDULE OF RECEIPTS AND EXPENDITURES OF
FUNDS RELATED TO THE DEEPWATER HORIZON OIL SPILL
For The Fiscal Year Ended September 30, 2022
Amount
Amount
Received
Expended
in the
in the
2022
2022
Source Fiscal Year
Fiscal Year
British Petroleum:
Gulf Seafood and Tourism Promotional Fund S
S
Note: This schedule does not include funds related to the Deepwater Horizon Oil Spill that are considered Federal
awards or State financial assistance. The Schedule of Expenditures of Federal Awards and State Financial
Assistance does not include any expenditures of Federal awards or State financial assistance related to the
Deepwater Horizon Oil Spill for the 2022 fiscal year.
156
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Ago
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Statistical schedules differ from financial statements because they usually cover more than one fiscal year and
may present non -accounting data. These schedules reflect social and economic data, and financial trends of
Collier County, Florida.
FINANCIAL TRENDS
These schedules contain trend information to help the reader understand how the government's
financial perfomance and wellbeing have changed over time.
NetPosition by Component....................................................................................................................................... 160
Changein Net Position............................................................................................................................................... 162
Governmental Activities Tax Revenues by Source..................................................................................................164
Fund Balances of Governmental Funds.................................................................................................................... 165
Changes in Fund Balances of Governmental Funds...............................................................................................166
REVENUE CAPACITY
These schedules contain trend information to help the reader assess the County's most
significant local revenue source, Property Tax.
Assessed Value and Estimated Actual Value of Taxable Property.......................................................................168
Property Tax Rates — All Direct and Overlapping Governments............................................................................170
PrincipalTaxpayers County-Wide.............................................................................................................................. 171
Property Tax Levies and Collections......................................................................................................................... 172
DEBT CAPACITY
These schedules present information to help the reader assess the affordability of the County's
current levels of outstanding debt and the County's ability to issue additional debt in the future.
Ratiosof Outstanding Debt by Type.......................................................................................................................... 173
LegalDebt Margin Information.................................................................................................................................. 174
Direct, Overlapping and Underlapping Governmental Activities Debt...................................................................174
Pledged -Revenue Coverage....................................................................................................................................... 175
DEMOGRAPHIC AND ECONOMIC INFORMATION
These schedules offer demographic and economic indicators to help the reader understand the
environment within which the County's financial activities take place.
Demographic and Economic Statistics.................................................................................................................... 176
PrincipalEmployers..................................................................................................................................................... 177
OPERATING INFORMATION
These schedules contain service and infrastructure data to help the reader understand how the
information in the County's financial report relates to the services the County provides and the
activities it performs.
Budgeted Full -Time Equivalent County Employees by Function...........................................................................178
Operating Indicators by Function.............................................................................................................................. 179
Capital Asset Statistics by Function......................................................................................................................... 180
Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive
financial reports for the relevant year.
159
COLLIER COUNTY, FLORIDA
NET POSITION BY COMPONENT
Last Ten Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
(unaudited)
Fiscal Year
2022
2021
2020
2019
2018
2017
Governmental Activities:
Net investment in capital assets
$
1,509,272
$ 1,396,962
$ 1,331,163
$ 1,302,980
$ 1,287,184
$ 1,257,685
Restricted
782,820
660,442
559,050
478,719
362,045
336,922
Unrestricted
87,851
42,882
(23,652)
(32,158)
(29,328)
(24,011)
Total governmental activities net position
$
2,379,943
$ 2,100,286
$ 1,866,561
$ 1,749,541
$ 1,619,901
$ 1,570,596
Business -type Activities:
Net investment in capital assets
$
870,966
$ 846,257
$ 818,092
$ 777,814
$ 763,259
$ 741,912
Restricted
48,511
50,827
42,036
39,371
31,982
32,619
Unrestricted
240,180
241,239
215,623
205,756
143,198
168,602
Total business -type activities net position
$
1,159,657
$ 1,138,323
$ 1,075,751
$ 1,022,941
$ 938,439
$ 943,133
Primary Government:
Net investment in capital assets
$
2,380,238
$ 2,243,219
$ 2,149,255
$ 2,080,794
$ 2,050,443
$ 1,999,597
Restricted
831,331
711,269
601,086
518,090
394,027
369,541
Unrestricted
328,031
284,121
191,971
173,598
113,870
144,591
Total primary government net position
$
3,539,600
$ 3,238,609
$ 2,942,312
$ 2,772,482
$ 2,558,340
$ 2,513,729
160
Fiscal Year
2016 2015 2014 2013
$ 1,225,520 $
1,217,176 $
1,207,751 $
1,198,971
327,968
298,360
223,526
221,501
2,478
13,109
169,633
152,790
$ 1,555,966 $
1,528,645 $
1,600,910 $
1,573,262
$ 723,000 $
714,239 $
705,065 $
668,160
35,760
31,511
29,749
34,379
169,287
165,128
185,420
196,050
$ 928,047 $
910,878 $
920,234 $
898,589
$ 1,948,520 $
1,931,415 $
1,912,816 $
1,867,131
363,728
329,871
253,275
255,880
171,765
178,237
355,053
348,840
$ 2,484,013 $
2,439,523 $
2,521,144 $
2,471,851
161
COLLIER COUNTY, FLORIDA
CHANGE IN NET POSITION
Last Ten Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
(unaudited)
Fiscal Year
2022
2021
2020
2019
2018
2017
Expenses
Governmental activities:
General government
$ 138,961
$ 129,810
$ 135,978
$ 134,018
$ 126,920
$ 108,388
Public safety
274,244
237,435
266,736
254,341
223,177
225,360
Transportation
94,079
88,679
89,954
88,200
83,386
75,589
Culture and recreation
70,800
59,348
56,900
59,401
58,042
51,889
Other activities
97,039
114,798
54,967
52,500
64,822
41,899
Interest on long-term debt
10,818
14,601
12,321
13,223
9,736
11,294
Total governmental activities expenses
$ 685,941
$ 644,671
$ 616,856
$ 601,683
$ 566,083
$ 514,419
Business -type activities:
Water and Sewer
$ 175,794
$ 166,035
$ 155,368
$ 153,602
$ 144,113
$ 144,850
Solid Waste
51,071
51,896
49,158
47,529
106,823
43,664
Emergency Medical Services
41,626
27,782
33,761
34,871
32,275
28,644
Airport Authority
11,612
7,805
6,168
6,361
5,533
4,905
Mass Transit
14,766
13,638
13,716
13,090
12,680
11,354
Total business -type activities expenses
294,869
267,156
258,171
255,453
301,424
233,417
Total primary government expenses
S 880.810
$ 111.827
$ 775.027
$ 557.136
$ 667.507
$ 447,836
Program Revenues
Governmental activities:
Charges for services:
General government
$ 46,133
$ 40,237
$ 39,204
$ 39,981
$ 37,703
$ 33,377
Public safety
28,900
29,790
25,037
26,137
28,040
24,240
Transportation
1,700
1,897
1,425
1,206
2,111
2,024
Culture and recreation
10,015
7,617
5,055
7,808
7,886
8,192
Other activities
1,257
3,566
1,959
1,862
2,235
1,467
Operating Grants and Contributions
79,246
98,708
34,025
30,313
29,549
26,539
Capital Grants and Contributions
132,702
50,311
47,343
56,268
47,645
38,124
Total governmental activities program revenues
299,953
232,126
154,048
163,575
155,169
133,963
Business -type activities:
Charges for services:
Water and Sewer
$ 177,260
$ 168,017
$ 162,702
$ 155,839
$ 145,757
$ 135,045
Solid Waste
60,340
59,078
53,885
51,928
50,449
45,209
Emergency Medical Services
18,491
14,206
13,069
13,854
12,836
11,812
Airport Authority
9,633
7,242
4,959
4,639
3,951
3,734
Mass Transit
1,140
1,086
978
1,203
1,129
1,267
Operating Grants and Contributions
8,172
26,394
11,548
46,592
16,426
5,025
Capital Grants and Contributions
48,197
42,974
42,099
37,888
38,670
26,993
Total business -type activities program revenues
323,233
318,997
289,240
311,943
269,218
229,085
Total primary government program revenues
623,186
551,123
443,288
475,518
424,387
363,048
Net (expense)/revenue:
Governmental activities
(385,988)
(412,545)
(462,808)
(438,108)
(410,914)
(380,456)
Business -type activities
28,364
51,841
31,069
56,490
(32,206)
(4,332)
Total primary government net expense
S (357.624)
S (360.704)
S (431.739)
S (381.618)
S (443.120)
S (384.788)
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property taxes
$ 447,901
$ 400,607
$ 376,140
$ 356,099
$ 337,447
$ 312,633
Gas taxes
24,196
22,920
21,005
24,485
22,749
21,799
Sales taxes
65,043
55,732
45,228
49,550
44,093
41,799
Infrastructure sales tax
120,376
99,588
81,735
60,787
-
-
Tourist taxes
47,470
36,192
26,062
31,653
27,962
21,961
Other taxes
6,658
6,289
6,438
7,140
6,914
7,478
State revenue sharing
17,758
13,776
12,343
13,194
12,564
11,602
Interest earnings
(55,942)
1,639
14,336
24,113
6,857
3,574
Miscellaneous
7,899
18,407
11,523
17,594
18,121
9,714
Transfers, net
(15,714)
(8,880)
(15,020)
(16,837)
(16,487)
(14,793)
Total governmental activities
S 665.645
S 446.270
S 779.790
S 667.778
S 660.220
S 115.767
Business -type Activities:
Interest earnings
$ (22,905)
$ 394
$ 5,870
$ 9,699
$ 2,602
$ 1,379
Miscellaneous
161
1,457
851
1,476
8,423
126
Transfers, net
15,714
8,880
15,020
16,837
16,487
14,793
Total business -type activities
(7,030)
10,731
21,741
28,012
27,512
16,298
Total primary government
S 558.615
S 557.001
S 001,531
S 995.790
S 887.732
S 332.065
Change in Net Position
Governmental activities
$ 279,657
$ 233,725
$ 116,982
$ 129,670
$ 49,306
$ 35,311
Business -type activities
21,334
62,572
52,810
84,502
(4,694)
11,966
Total primary government
S 300,991
$ 296,297
$ 169,792
$ 214,172
$ 44,612
$ 47,277
162
2016 2015 2014 2013
$ 104,188 $
93,644 $
92,176 $
95,941
205,347
174,874
177,267
171,210
70,560
70,296
71,623
69,275
49,526
45,117
41,630
41,453
48,256
45,621
39,171
43,067
12,077
12,912
12,674
16,129
$ 489,954 $
442,464 $
434,541 $
437,075
$ 130,792 $
122,858 $
112,643 $
114,041
39,271
36,411
33,787
32,760
26,529
24,094
23,208
21,545
4,402
4,771
3,764
4,439
11,333
10,416
10,306
10,111
212,327
198,550
183,708
182,896
S 702,281 $
641,014 $
618.249 $
619,971
$ 35,184 $
34,240 $
34,662 $
36,080
25,276
25,227
21,765
19,735
4,880
1,094
959
1,045
8,393
8,685
7,943
8,416
1,230
4,237
2,661
3,667
26,387
35,521
31,444
20,921
36,818
29,986
28,945
28,280
138,168
138,990
128,379
118,144
$ 123,856 $
116,645 $
107,924 $
109,176
41,918
39,121
35,368
34,585
13,161
12,327
9,922
10,335
3,073
3,350
2,589
3,021
1,225
1,719
1,641
1,450
4,435
5,142
3,077
3,914
25,367
21,165
30,662
24,953
213,035
199,469
191,183
187,434
351,203
338,459
319,562
305,578
(351,786) (303,474) (306,162) (318,931)
708 919 7,475 4,538
S (351,078) S (302.555) S (298.687) S (314.393)
$ 281,136 $
259,779 $
244,404 $
249,352
20,478
19,547
18,556
18,229
40,659
38,573
35,786
32,168
21,838
21,188
19,137
16,183
7,280
7,322
7,840
9,403
11,100
10,589
9,657
8,792
4,891
5,069
2,599
1,496
5,976
17,510
13,333
9,063
(14,250)
(14,192)
(13,185)
(13,912)
S 379,108 S
365,385 S
338.127 S
330,774
$ 2,011 $
2,209 $
1,301 $
712
200
94
68
154
14,250
14,192
13,184
13,912
16,461
16,495
14,553
14,778
S 395.569 S
381,880 S
352,680 S
345,552
$ 27,322 $ 61,911 $ 31,965 $ 11,843
17,169 17,414 22,028 19,316
$ 44,491 $ 79,325 $ 53,993 $ 31,159
163
COLLIER COUNTY, FLORIDA
GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE
Last Ten Fiscal Years
(amounts expressed in thousands)
(unaudited)
Fiscal
roperty
Gas
Sales
Infrastructure
Tourist
Other
Year
Tax
Tax
Tax
Sales Tax
Tax
Taxes
Total
2013
$ 249,352 $
18,229 $
32,168
$ $
16,183 $
9,403 $
325,335
2014
244,404
18,556
35,786
19,137
7,840
325,723
2015
259,779
19,547
38,573
21,188
7,322
346,409
2016
281,136
20,478
40,659
21,838
7,280
371,391
2017
312,633
21,799
41,799
21,961
7,478
405,670
2018
337,447
22,749
44,093
27,962
6,914
439,165
2019
356,099
24,485
49,550
60,787
31,653
7,140
529,714
2020
376,140
21,005
45,228
81,735
26,062
6,438
556,608
2021
400,607
22,920
55,732
99,588
36,192
6,289
621,328
2022
447,901
24,196
65,043
120,376
47,470
6,658
711,644
164
COLLIER COUNTY, FLORIDA
FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
(unaudited)
Fiscal Year
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
General fund
Nonspendable
$ 3,811 $
2,785 $
2,779 $
2,383 $
2,645 $
3,386 $
3,675
$ 3,546
$ 19,843
$ 15,744
Restricted
197
580
1,087
461
306
2,440
264
345
125
96
Assigned
35,243
12,281
11,664
1,115
1,736
1,598
1,674
1,299
850
813
Unassigned
114,549
117,116
104,299
103,707
77,342
54,805
53,961
55,002
57,781
56,497
Total general fund
$ 153, 000 $
1 22,762 $
1 99,829 $
1 77,666 $
82,029 $
22,229 $
59,574
$ 00,192
$ 88,599
$ 33,150
All other governmental funds
Nonspendable
$ 6,993 $
6,623 $
3,490 $
2,887 $
8,135 $
2,385 $
3,055
$ 3,112
$ 53,544
$ 46,049
Restricted
822,398
722,297
560,480
522,311
354,514
328,447
324,334
293,281
242,981
223,700
Committed
48,432
44,582
41,517
40,355
34,788
32,759
26,069
25,663
27,349
29,810
Assigned
110,481
84,392
52,613
31,977
21,129
33,822
28,644
30,800
28,391
36,364
Unassigned
(1,636)
-
-
-
(246)
-
(89)
(514)
(62,085)
(55,212)
Total all other
governmental funds
$ 986,668 $
857,894 $
658,100 $
597,530 $
418,320 $
397,413 $
382,013
$ 352,342
$ 290,180
$ 280,711
165
COLLIER COUNTY, FLORIDA
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest earnings
Special assessments
Miscellaneous
Total revenues
Expenditures:
Current:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service:
Principal
Interest
Redemption of debt
Other fiscal charges
Capital outlay
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):
Bondsissued
Loansissued
Refunding loans issued
Premiums on bonds issued
Discount on loans issued
Payment to refunding escrow
Leases
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Debt service as a percentage of noncapital
expenditures
Fiscal Year
2022 2021 2020 2019 2018 2017
$ 637,798 $
556,387 $
503,593 $
471,127 $
386,814 $
355,885
87,077
79,468
68,989
78,182
75,102
59,217
159,873
174,230
96,684
100,191
92,206
86,656
44,586
38,570
34,959
37,255
36,981
34,008
2,498
2,567
2,334
2,491
2,375
2,263
(51,856)
1,575
13,178
22,046
6,133
3,233
15,228
5,610
5,619
7,452
4,789
4,350
6,454
11,851
6,799
5,566
4,527
8,705
901,658
870,258
732,155
724,310
608,927
554,317
118,232
109,729
108,008
103,445
101,198
89,193
247,700
226,655
219,808
213,829
198,097
197,762
25,747
21,050
20,986
23,728
31,994
12,465
59,272
53,788
53,316
45,245
45,904
41,003
40,858
13,824
9,395
8,378
9,942
8,199
25,208
77,191
20,242
17,005
15,849
15,058
56,473
49,493
46,246
48,793
47,671
42,889
28,761
31,084
26,507
23,127
21,864
21,439
13,519
13,151
12,731
11,521
10,165
11,908
-
10,000
-
-
-
5,588
171
1,084
21
801
128
48
127,836
164,344
129,056
107,881
82,871
80,495
743,777
771,393
646,316
603,753
565,683
526,047
157,881
98,865
85,839
120,557
43,244
28,270
-
99,175
62,965
-
1,000
-
28,060
12,000
-
108,425
-
-
43,713
5,293
-
16,925
3,238
-
-
(189)
-
-
(108,044)
-
-
(44,525)
865
2,658
358
-
-
-
4,662
337
712
376
1,065
155
842
4,157
2,104
6,416
3,762
339
185,203
236,502
144,991
140,633
114,358
117,833
(200,834)
(246,785)
(161,271)
(157,399)
(132,910)
(133,834)
(8,070)
112,969
(13,106)
84,289
(2,537)
(10,214)
$ 149,811 $
111,834 $
72,733 $
204,846 $
40,707 $
18,056
6.86% 7.41 %
7.59% 6.99% 6.63% 7.58%
166
Fiscal Year
2016 2015 2014 2013
$ 322,915 $
300,341 $
282,315 $
285,765
61,033
51,319
40,631
35,168
83,949
92,818
89,392
83,667
38,362
37,172
35,149
32,435
2,708
2,866
3,252
3,712
4,440
4,606
2,393
1,406
3,746
3,132
2,922
2,924
6,600
16,063
11,553
4,833
523,753 508,317 467,607 449,910
84,599
78,147
73,739
75,725
177,375
167,788
163,169
153,566
15,283
16,157
11,276
13,790
36,011
36,992
38,789
37,170
11,061
9,159
9,265
14,436
14,038
13,151
12,367
12,254
40,886
37,523
34,114
33,744
20,743
20,039
18,510
25,125
12,713
13,555
14,177
17,565
19 21 173 2,165
67,198 62,186 63,613 61,278
479,926 454,718 441,278 446,950
43,827 53,599 26,329 2,960
73,805
89,780
-
-
2,082
-
(89,622)
(73,747)
-
1,915
-
-
306
595
314
233
796
379
316
300
121,654
196,026
97,854
90,637
(137,530)
(208,760)
(110,052)
(102,061)
(14,774)
(9,845)
(11,410)
(8,751)
$ 29,053 $
43,754 $
14,919 $
(5,791)
8.11 % 8.56% 8.66% 11.07%
167
COLLIER COUNTY, FLORIDA
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
Last Ten Fiscal Years
(amounts expressed in thousands)
(unaudited)
Fiscal Year
Government
Ended
Residential
Commercial
Institutional and
Industrial
September 30
Property
Property
Other Property
Property
2013
$ 55,738,290 $
3,785,006 $
4,337,007 $
609,058
2014
57,656,527
3,912,768
4,523,093
629,143
2015
61,457,718
4,082,445
4,692,490
651,646
2016
66,559,709
4,377,974
5,067,190
682,762
2017
73,334,846
4,681,110
5,252,880
763,216
2018
79,459,537
5,047,802
5,438,701
841,128
2019
83,819,751
5,360,190
5,681,034
923,980
2020
87,951,024
6,001,743
5,936,391
1,073,086
2021
93,113,447
6,691,606
6,257,252
1,195,303
2022
98,746,606
6,636,506
6,516,129
1,274,347
Agricultural
Property
Personal
Property
$ 261,964 $
2,240,098
266,888
2,200,895
268,161
2,186,145
282,725
2,353,841
282,376
2,342,953
280,507
2,448,008
283,625
2,534,892
282,370
2,619,748
276,441
2,755,010
292,672
2,835,230
Property is assessed as of January 1, and taxes based on these assessments are levied and become due on the following November 1.
Therefore, assessments and levies applicable to a certain tax year are collected in the fiscal year ending during the next succeeding calendar year.
(1) The basis of assessed value required by the state is 100% of actual value including tax exemptions.
Source: Property Appraiser Recapitulation Report
168
Centrally
Assessed
Property
Less:
Tax
Exempt
Total Taxable
Assessed
Value
Total
Direct
Tax
Rate
Estimated
Actual
Taxable
Value
Assessed
Value as a
Percentage of
Actual Value(')
$ 184 $
8,473,811
$ 58,497,796
4.4126 $
66,971,607
100%
152
8,539,822
60,649,644
4.1592
69,189,466
100%
195
8,741,753
64,597,047
4.1582
73,338,800
100%
134
9,235,508
70,088,827
4.1572
79,324,335
100%
211
9,537,260
77,120,332
4.2029
86,657,592
100%
246
9,905,942
83,609,987
4.1851
93,515,929
100%
244
10,317,449
88,286,267
4.1827
98,603,716
100%
232
10,676,611
93,187,983
4.1876
103,864,594
100%
221
11,121,148
99,168,132
4.1906
110,289,280
100%
193
11,622,676
104,679,007
4.4407
116,301,683
100%
169
COLLIER COUNTY, FLORIDA
PROPERTY TAX RATES - ALL DIRECT AND OVERLAPPING GOVERNMENTS
Last Ten Fiscal Years
(unaudited)
Collier County
Other
Special
Debt
Capital
Fiscal
General
Revenue
Service
Project
Collier County
Independent
Year
Fund
Funds
Funds
Funds
Total
School District
Districts
Total
2013
3.5645
0.7555
0.0926
0.0000
4.4126
5.5760
1.2395
11.2281
2014
3.5645
0.5873
0.0074
0.0000
4.1592
5.6900
1.2228
11.0720
2015
3.5645
0.5860
0.0077
0.0000
4.1582
5.5800
1.1853
10.9235
2016
3.5645
0.5856
0.0071
0.0000
4.1572
5.4800
1.1331
10.7703
2017
3.5645
0.6323
0.0061
0.0000
4.2029
5.2450
1.1138
10.5617
2018
3.5645
0.6145
0.0061
0.0000
4.1851
5.1220
1.2375
10.5446
2019
3.5645
0.6122
0.0060
0.0000
4.1827
5.0490
1.2331
10.4648
2020
3.5645
0.6172
0.0059
0.0000
4.1876
5.0830
1.2272
10.4978
2021
3.5645
0.6202
0.0058
0.0001
4.1906
5.0160
1.2262
10.4328
2022
3.5645
0.8761
0.0000
0.0001
4.4407
4.4590
1.2155
10.1152
Basis for property
tax rates is 1 mill
per $1,000 of assessed value. Property is assessed
as of January 1
and taxes based on those assessments are levied
according to the tax rate in effect that tax year and
become due on November 1. Therefore, assessments and levies applicable to a certain tax
year are
collected in the fiscal year ending during the following calendar year.
Sources:
Property Appraiser Recapitulation Report
Collier County Adopted Budget
170
HHR Naples, LLC
The Moorings, Inc.
Naples Beach Club Land Trust, Inc.
Marco Hotel, LLC
PR Mercato, LLP
Naples Beach Club Land Trust 1, Inc.
Res Florida 1250 Holding, LLC
Continental 422 Fund, LLC
PRCP Florida Naples Edge75, LLC
Naples Livingston, LLC
Florida Power & Light Company
Lee County Electric Co -Op, Inc.
City National Bank of Miami
Century Link
Naples HMA, Inc.
Wal-Mart Stores East, LP
Coastland Center, LLC
COLLIER COUNTY, FLORIDA
PRINCIPAL TAXPAYERS COUNTY -WIDE
2022 TAX ROLL
(unaudited)
2022
Property
Taxes
Levied
1,847,614
1,597,082
1,557,065
1,401,145
1,369,379
1,195,164
1,090,966
1,073,296
1,025,039
1,012,257
Total $ 13,169,007
Total Property Taxes Levied - County -Wide $ 1,320,519,122
Amounts for taxpayers with similar names have not been combined.
Sources:
Property Appraiser's taxpayer listing in order of taxes levied.
Property Appraiser Recapitulation Report.
Rank
1
3
4
5
6
7
8
9
10
013
Percent of
Total
Taxes Levied
Property
Taxes
Levied
Rank
Percent of
Total
Taxes Levied
0.14%
$ 1,533,564
2
.22%
.12%
1,062,613
3
0.15%
0.12%
-
0.00%
0.11 %
-
0.00%
0.10%
692,331
8
0.10%
0.09%
-
0.00%
0.08%
0.00%
0.08%
0.00%
0.08%
0.00%
0.08%
-
0.00%
0.00%
2,689,272
.38 %
0.00%
921,099
4
0.13%
0.00%
910,972
.13%
0.00%
804,841
5
0.11 %
0.00%
716,671
7
0.10%
0.00%
681,166
9
0.10%
0.00%
680,031
10
0.10%
1.00% $ 10,692,560 1.52%
$ 702,431,482
171
COLLIER COUNTY, FLORIDA
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(amounts expressed in thousands)
(unaudited)
Fiscal Year Total County Tax Collected within the Total County Tax
Ended Levy for Fiscal Year of the Levy Levy Cost
September 30 Populations') Fiscal Year Amount Percentage of Levy Per Person
2013
333,663 $
258,650 $
248,648
96.3% $
775
2014
336,783
252,323
243,084
96.5 %
749
2015
343,802
268,604
259,121
96.5%
781
2016
350,202
291,369
281,114
96.4%
832
2017
357,470
324,123
312,507
96.4%
907
2018
367,347
349,928
337,361
96.4%
953
2019
376,706
369,257
356,075
96.4%
980
2020
375,752
390,115
376,086
96.4%
1,038
2021
382,680
415,635
400,531
96.4%
1,086
2022
390,912
464,860
447,901
96.4%
1,189
Property taxes levied apply only to General, Special Revenue, Debt Service Funds and Capital Projects Funds
Property tax levies are based on assessed values as of January 1 st and become due and payable on November 1 st of each year. A four percent discount
is allowed if the taxes are paid by November 30, with the discount declining by one percent each month thereafter. Accordingly, taxes collected are not 100
percent of the amount levied. Taxes become delinquent on April 1 st of each year and tax certificates for the unpaid taxes must be sold no later than June 1 st
of each year.
Property taxes receivable and a corresponding reserve for uncollectible property taxes are not included in the financial statements as there are no significant
delinquent taxes as of September 30, 2022.
Sources:
(1) https://www.bebr.ufl.edu/population/population-data-archive/
(2) Property Appraiser Recapitulation Report
172
COLLIER COUNTY, FLORIDA
RATIOS OF OUTSTANDING DEBT BY TYPE
Last Ten Fiscal Years
(amounts expressed in thousands)
(unaudited)
Governmental
Activities
Business -type Activities
Limited
Direct
Direct
General
Placement
Placement
Total
Percentage
Fiscal
Obligation
Revenue
Loans and Other Loans Revenue Loans and Other
Loans
Primary
of Personal
Per
Year
BondsM
Bonds() Notes
Payable and Leases(3) Bonds(') Notes PayableM and
Leases(3) Government
Income(2)
Capita(2)
2013 $
4,664 $
373,371 $
7,923 $
323 $ 83,498 $ 23,067 $
111,827 $
604,673
2.50%
$ 1,812
2014
4,223
277,885
96,861
230 78,470 17,100
114,235
589,004
2.47%
1,749
2015
3,369
259,563
95,116
1519 60,976 28,714
105,549
554,806
2.05%
1,614
2016
2,941
246,135
87,360
937 59,954 24,727
96,954
519,008
1.74%
1,482
2017
2,499
232,147
79,227
316 59,351 108,278
931
482,749
1.53%
1,350
2018
2,037
175,975
102,930
236 58,748 129,141
587
469,654
1.38%
1,278
2019
1,560
226,896
145,952
153 139,382 113,576
239
627,758
1.65%
1,666
2020
1,063
209,822
136,549
7,311 138,524 98,165
957
592,391
1.44%
1,577
2021
-
309,856
111,582
7,425 297,456 82,476
703
809,498
1.91%
2,115
2022
-
178,680
208,979
8,309 293,299 67,624
677
757,568
1.66%
1,938
(1) Amounts include the unamortized premium or discount.
(2) See the Schedule of Demographic and Economic Statistics for personal income and population data
(3) Collier County adopted GASB Statement No. 87, Leases in the 2020 fiscal year.
(4) Does not include private development note payable.
173
COLLIER COUNTY, FLORIDA
LEGAL DEBT MARGIN INFORMATION
As Of September 30, 2022
(unaudited)
The Constitution of the State of Florida, Florida Statute 200.181 and Collier County set no legal debt limit.
DIRECT, OVERLAPPING AND UNDERLYING DEBT
As of September 30, 2022
(unaudited)
Direct Debt:
Governmental Activities
Gas Tax Revenue Bonds (1)
Special Obligation Revenue Bonds (1,3)
Tourist Development Tax Revenue Bonds (1)
Direct Placement Loans and Notes Payable (1,3)
Leases and Other Loans (3)
Total Governmental Activities Direct Debt
Overlapping Debt:
N/A
Underlying Debt:
City of Naples (4)
City of Marco Island (5)
City of Everglades (6)
Subtotal, Underlying Debt
Total Direct, Overlapping and Underlying Debt
Debt
Outstanding
Estimated
Percentage
Applicable Based
on Population(2)
Estimated
Share of
Overlapping
Debt
$ 4,048,871
100.00%
$ 4,048,871
112,119,573
100.00%
112,119,573
62,511,582
100.00%
62,511,582
208,978,732
100.00%
208,978,732
8,309,013
100.00%
8,309,013
395,967,771
395,967,771
0.00%
2,116,685 4.93% 104,353
16,984,908 4.12% 699,778
- 0.00% -
19,101,593 9.05% 804,131
$ 415,069,364 $ 396,771,902
(1) Amounts include the unamortized premium or discount.
(2) Population numbers obtained from University of Florida Bureau of Economic and Business Research.
(3) Totals consist of more than one issuance.
(4) Governmental activities debt outstanding amount obtained from the City of Naples.
(5) Governmental activities debt outstanding amount obtained from the City of Marco Island.
(6) Governmental activities debt outstanding amount obtained from the City of Everglades.
174
COLLIER COUNTY, FLORIDA
PLEDGED -REVENUE COVERAGE
Last Ten Fiscal Years
(amounts expressed in thousands)
(unaudited)
Governmental Activities:
Gas Tax Bonds and Direct Placement Loans
Special Obligation Bonds and Direct Placement Loans(')
Legally
Available
Gas
Non -Ad
Fiscal
Tax
Debt Service
Valorem
Debt Service
Year
Collections
Principal
Interest
CoverageM Collections(2)
Principal Interest CoverageM
2013
$ 18,229 $
7,855 $
6,453
1.27 $
86,640 $
9,695 $ 7,249
5.11
2014
18,556
8,040
4,018
1.54
91,043
9,145 9,674
4.84
2015
19,547
9,440
3,697
1.49
102,375
8,885 9,426
5.59
2016
20,478
9,900
3,242
1.56
107,268
9,280 9,020
5.86
2017
21,799
10,195
2,939
1.66
108,577
9,705 8,591
5.93
2018
22,749
10,510
2,737
1.72
118,725
10,258 7,012
6.87
2019
22,709
10,830
2,542
1.70
125,162
10,865 7,191
6.93
2020
21,005
11,170
2,178
1.57
124,638
11,362 7,244
6.70
2021
22,920
11,515
1,802
1.72
129,594
11,841 8,458
6.38
2022
24,196
11,875
1,413
1.82
152,914
14,798 9,354
6.33
Business -type
Activities:
Water and Sewer Revenue Bonds and Direct Placement
Loans
Water/ Sewer
ess:
Net
Fiscal
Charges
Operating
Available
Debt Service
Year
and Other(4)
Expenses(5)
Revenue
Principal
Interest
CoverageM
2013
$ 105,682 $
68,916 $
36,766 $
5,422 $
6,268
3.15
2014
109,514
69,710
39,804
5,967
3,986
4.00
2015
118,066
74,344
43,722
6,073
3,639
4.50
2016
125,456
84,474
40,982
3,986
2,841
6.00
2017
136,064
97,904
38,160
3,902
2,818
5.68
2018
155,847
90,507
65,340
5,528
3,050
7.62
2019
163,653
98,281
65,372
6,261
4,091
6.31
2020
169,444
100,866
68,578
6,384
6,189
5.45
2021
170,927
106,913
64,014
6,500
6,066
5.09
2022
160,302
113,392
46,910
9,016
10,959
2.35
Gas Tax Collections
divided by annual total debt service requirements for the
respective fiscal year.
(z)The revenues that comprise the legally
available non -ad valorem revenues are defined by bond documents; these revenues include Sales Tax and certain impact fees and
are
averaged over
two fiscal years.
(3) Legally Available
Non -Ad Valorem Collections
divided by annual total debt service
requirements for the respective fiscal year. Current year collections are $168,095,843.
(4) Operating revenues plus other income; certain interest earnings,
gain on disposal of assets, capital
grants and contributions and transfers in are not included.
(')Total operating expenses, excluding depreciation and amortization;
loss on disposal
of assets, interest
expense and transfers out are not included.
(') Net available
revenue divided by annual total senior lien debt
service requirements for the County Water and Sewer District. Coverage must beat least 1.00.
175
COLLIER COUNTY, FLORIDA
DEMOGRAPHIC AND ECONOMIC STATISTICS
Last Ten Fiscal Years
(unaudited)
Per Capita
Fiscal Personal Personal Median School Unemployment
Year Population(') Income(2) Income Age(3) Enrollment() Rate(s)
2013
333,663
$ 24,142,507,000
$72,356
47.1
43,789
7.2%
2014
336,783
23,834,645,000
70,772
47.6
44,415
6.3%
2015
343,802
27,082,008,000
78,772
48.0
45,228
5.2%
2016
350,202
29,889,525,000
85,349
48.5
47,289
4.9%
2017
357,470
31,512,180,000
88,153
49.2
49,394
3.6%
2018
367,347
33,958,713,000
92,443
49.7
47,934
3.3 %
2019
376,706
38,058,323,000
101,029
50.3
48,441
3.2%
2020
375,752
41,014,314,000
109,153
50.8
47,048
5.7%
2021
382,680
42,413,331,000
110,832
51.3
48,838
3.6%
2022
390,912
45,539,558,000
116,496
51.5
49,692
2.8%
Sources:
(1) httns.-//wwwbebr.ufl.edu/population/population-data-archive/
(2) fred.stlouisfed.org/series/P112021
(3) fred.stlouisfed.org/series/801002001E012021
(4) collierschools.com/Page/349
(5) floridajobs.org
176
Collier County Public Schools
NCH Healthcare System
Arthex, Inc.
Publix Supermarkets
Collier County Government (excl. Sheriff)
Collier County Sheriffs Office
Ritz Carlton Hotel
JW Marriott- Marco Island
Seminole Casino - Immokalee
City of Naples
Gargiulo, Inc.
Hometown Inspection Svs.
Waldorf Astoria (Registry Resort)
Other employers
Totals
COLLIER COUNTY, FLORIDA
PRINCIPAL EMPLOYERS
(unaudited)
2022 2013
Percent of
Percent of
Total County
Total County
Employees
Rank
Employment
Employees
Rank
Employment
5,704
1
3.61 %
5,288
1
4.69 %
4,113
2
2.61%
4,000
2
3.55%
3,605
3
2.28%
1,056
5
0.94%
3,100
4
1.96%
800
9
0.71%
2,545
5
1.61%
2,157
3
1.91%
1,446
6
0.92%
1,867
4
1.66%
1,100
7
0.70%
1,100
6
0.98%
1,089
8
0.69%
900
9
0.57%
510
10
0.32%
1,100 7
0.98%
900 8
0.80%
760 10
0.67%
133,789 84.73% 93,650
83.11 %
157,901 100.00 % 112,678
100.00 %
Sources:
Southwest Florida Economic Development Alliance
Collier County Public Schools
NCH Healthcare System
Publix Corporate Office
Arthrex,Inc.
177
Function:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Water and Sewer
Solid Waste
Emergency Medical
Services
Airport Authority
Collier Area Transit
Total
COLLIER COUNTY, FLORIDA
BUDGETED FULL-TIME EQUIVALENT COUNTY EMPLOYEES BY FUNCTION (1)
Last Ten Fiscal Years
(unaudited)
Fiscal Year
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
1,434
1,374
1,366
1,342
1,299
1,351
1,262
1,217
1,216
1,203
1,104
1,111
1,100
1,080
1,089
1,112
1,124
1,096
1,072
1,061
97
94
90
80
73
73
70
69
67
67
232
233
235
228
224
219
211
192
187
187
31
26
27
31
30
29
26
27
28
26
70
70
61
58
58
58
56
56
53
51
354
370
340
347
337
324
304
298
294
289
467
434
438
436
414
410
384
342
340
342
44
45
44
45
43
31
28
27
28
29
202
202
202
202
199
194
193
193
172
172
17
15
15
15
15
15
15
14
14
16
5
5
5
5
5
4
4
3
3
3
4,057
3,979
3,923
3,869
3,786
3,820
3,677
3,534
3,474
3,446
(') Includes the Board of County Commissioners and the Constitutional Officers
178
COLLIER COUNTY, FLORIDA
OPERATING INDICATORS BY FUNCTION
Last Ten Fiscal Years
(unaudited)
Fiscal Year
2022 2021
2020 2019
2018
2017
2016
2015
2014
2013
Function:
Police:
Physical arrests 7,285 6,519
6,227 9,072
9,266
8,269
9,359
9,347
9,418
8,775
Parking violations 429 362
333 817
894
1,068
867
931
964
1,182
Traffic violations 32,146 24,674
22,370 26,773
17,157
15,473
14,462
16,355
19,868
22,211
Fire:
Fires reported ** **
** **
**
**
31
82
37
52
Emergency responses
(exclude fires) ** **
** **
**
**
839
1,093
1,080
1,024
Number of calls answered 737 886
680 870
804
795
870
1,175
1,117
1,076
Transportation:
Collier Area Transit ridership 662,396 649,391
723,423 913,569
944,931
996,687
1,082,519
1,177,029
1,181,530
1,361,294
Street resurfacing (lane miles) 93 42
34 43
40
38
34
34
80
78
Culture and recreation:
Beach parking stickers issued 150,078 144,254
131,645 146,500
143,500
149,490
139,828
134,051
181,878
122,415
Library circulation 2,063,261 2,554,082
2,080,277 2,471,878
2,253,555
2,193,351
2,349,418
2,302,017
2,578,588
2,578,589
Water:
New connections 2,368 2,864
2,031 2,297
2,776
1,951
2,023
2,204
1,878
1,417
Wastewater:
Average daily sewage
treatment 22,220 21,603
21,015 20,426
18,030
18,555
17,866
17,231
16,200
17,080
(millions of gallons)
** -Due to the consolidation of Fire Districts, this information is no
longer being tracked.
Sources:
Police -Collier County Sheriff's Department
Fire -Collier County Bureau of Emergency Services, Greater Naples Fire District
Transportation -Collier County Alternative Transportation and
Road and Bridge Departments
Culture and Recreation -Collier County Parks and Recreation
and Public Library Departments
Water -Collier County Utility Billing Department
Wastewater -Collier County Wastewater Department
179
COLLIER COUNTY, FLORIDA
CAPITAL ASSET STATISTICS BY FUNCTION
Last Ten Fiscal Years
(unaudited)
Fiscal Year
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
Function:
Public Safety:
Police stations 7
7
7
7
7
7
7
7
7
7
Patrol units 268
273
273
272
272
270
274
276
276
275
Fire:
Fire stations 4
4
4
4
4
4
4
4
4
3
Highways and streets:
Streets* (miles) 1,170
1,167
1,172
1,169
1,166
1,161
1,159
1,149
1,151
1,184
Streetlights 5,412
5,378
5,364
4,635
5,083
5,074
5,182
4,958
4,958
4,868
Traffic signals 382
381
377
377
377
374
365
360
370
353
Culture and recreation:
Parks acreage 1,524
1,561
1,560
1,521
1,521
1,521
1,521
1,521
1,521
1,521
Parks 67
66
66
61
61
61
61
61
61
61
Swimming pools 11
9
9
9
9
8
8
8
8
8
Tennis courts 42
40
40
45
45
45
45
45
45
45
Community centers 10
9
9
9
9
9
9
9
8
8
Libraries 10
10
10
10
10
10
10
10
10
10
Number of volumes in libraries 699,760
653,726
659,112
663,811
593,378
557,188
567,248
605,408
683,237
692,229
Water:
Number of customers 82,790
81,339
75,837
73,854
71,614
66,010
61,830
59,443
57,548
55,878
Water mains (miles) 1,205
1,191
1,166
1,149
1132
1067
1015
986
925
888
Maximum daily capacity (per
million gallons) 34,811
32,726
33,658
32,113
30,956
32,243
33,877
31,376
30,460
30,120
Wastewater:
Sanitary sewers (miles) 1,212
1,201
1,186
1,181
1,156
1,085
1,021
1,028
1,030
1,081
Primary and secondary
drainage facilities 330
325
325
322
312
289
294
306
306
305
Sources:
Police -Collier County Sheriff's Department
Fire -Collier County Bureau of Emergency Services Department
Highway and Streets -Collier County Traffic Operations, Transportation Engineering and Road and Bridge
Departments
Culture and Recreation -Collier County Parks and
Recreation and
Public Library Departments
Water -Collier County Water and Utility Billing Departments
Wastewater -Collier County Stormwater and Wastewater Departments
180
Single Audit
11:IPyTe[HMION1:10IN[670MAN aIII anQW_\01:/
�TVJWA
CliftonLarsonAllen LLP
CLAconnect.conn
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Board of County Commissioners
Collier County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the business -type activities, the aggregate discretely presented component units, each major
fund, and the aggregate remaining fund information of Collier County, Florida (County), as of and for
the year ended September 30, 2022, and the related notes to the financial statements, which
collectively comprise the County's basic financial statements, and have issued our report thereon dated
April 21, 2023.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the County'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 opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the County's
internal control. Accordingly, we do not express an opinion on the effectiveness of the County's internal
control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist that were not identified.
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183
Honorable Board of County Commissioners
Collier County, Florida
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County'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 or other matters that are required to be
reported under Government Auditing Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity's internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity's internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
CliftonLarsonAllen LLP
Naples, Florida
April 21, 2023
184
PAW
CliftonLarsonAllen LLP
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INDEPENDENT AUDITORS' REPORT ON COMPLIANCE FOR EACH MAJOR
FEDERAL PROGRAM AND STATE PROJECT AND REPORT ON INTERNAL CONTROL OVER
COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE AND CHAPTER 10.550, RULES OF THE
AUDITOR GENERAL OF THE STATE OF FLORIDA
Honorable Board of County Commissioners
Collier County, Florida
Report on Compliance for Each Major Federal Program and State Project
Opinion on Each Major Federal Program and State Project
We have audited Collier County, Florida's (the County) compliance with the types of compliance
requirements identified as subject to audit in the OMB Compliance Supplement and the requirements
described in the State of Florida Department of Financial Services' State Projects Compliance
Supplement that could have a direct and material effect on each of the County's major federal
programs and state projects for the year ended September 30, 2022. The County's major federal
programs and state projects are identified in the summary of auditors' results section of the
accompanying schedule of findings and questioned costs.
In our opinion, the County complied, in all material respects, with the compliance requirements referred
to above that could have a direct and material effect on each of its major federal programs and state
projects for the year ended September 30, 2022.
Basis for Opinion on Each Major Federal Program and State Project
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America (GAAS); the standards applicable to financial audits contained in Government
Auditing Standards issued by the Comptroller General of the United States; and the audit requirements
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance); and Chapter 10.550,
Rules of the Auditor General Local Governmental Entity Audits (Chapter 10.550). Our responsibilities
under those standards and the Uniform Guidance, and Chapter 10.550 are further described in the
Auditors' Responsibilities for the Audit of Compliance section of our report.
We are required to be independent of the County and to meet our other ethical responsibilities, in
accordance with relevant ethical requirements relating to our audit. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our opinion on compliance for each
major federal program and state project. Our audit does not provide a legal determination of the
County's compliance with the compliance requirements referred to above.
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185
Honorable Board of County Commissioners
Collier County, Florida
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of
laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the
County's federal programs and state projects.
Auditors' Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an
opinion on the County's compliance based on our audit. Reasonable assurance is a high level of
assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in
accordance with GARS, Government Auditing Standards, the Uniform Guidance, and Chapter 10.550
will always detect material noncompliance when it exists. The risk of not detecting material
noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Noncompliance with the compliance requirements referred to above is considered material if there is a
substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a
reasonable user of the report on compliance about the County's compliance with the requirements of
each major federal program and state project as a whole.
In performing an audit in accordance with GAAS, Government Auditing Standards, the Uniform
Guidance, and Chapter 10.550, we:
• exercise professional judgment and maintain professional skepticism throughout the audit.
identify and assess the risks of material noncompliance, whether due to fraud or error, and
design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the County's compliance with the compliance
requirements referred to above and performing such other procedures as we considered
necessary in the circumstances.
• obtain an understanding of the County's internal control over compliance relevant to the audit in
order to design audit procedures that are appropriate in the circumstances and to test and
report on internal control over compliance in accordance with the Uniform Guidance and
Chapter 10.550, but not for the purpose of expressing an opinion on the effectiveness of the
County's internal control over compliance. Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit and any significant deficiencies and material weaknesses in
internal control over compliance that we identified during the audit.
Report on Internal Control Over Compliance
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance
requirement of a federal program or state project on a timely basis. A material weakness in internal
control over compliance is a deficiency, or a combination of deficiencies, in internal control over
Honorable Board of County Commissioners
Collier County, Florida
compliance, such that there is a reasonable possibility that material noncompliance with a type of
compliance requirement of a federal program or state project will not be prevented, or detected and
corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency,
or a combination of deficiencies, in internal control over compliance with a type of compliance
requirement of a federal program or state project that is less severe than a material weakness in
internal control over compliance, yet important enough to merit attention by those charged with
governance.
Our consideration of internal control over compliance was for the limited purpose described in the
Auditors' Responsibilities for the Audit of Compliance section above and was not designed to identify all
deficiencies in internal control over compliance that might be material weaknesses or significant
deficiencies in internal control over compliance. Given these limitations, during our audit we did not
identify any deficiencies in internal control over compliance that we consider to be material
weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal
control over compliance may exist that were not identified.
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal
control over compliance. Accordingly, no such opinion is expressed.
The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the results of that testing based on the requirements of
the Uniform Guidance and Chapter 10.550. Accordingly, this report is not suitable for any other
purpose.
CliftonLarsonAllen LLP
Naples, Florida
April 21, 2023
187
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
FEDERAL AGENCY ASSISTANCE GRANT/CONTRACT
PASS -THROUGH ENTITY LISTING IDENTIFYING
FEDERAL PROGRAM NUMBER NUMBER
FEDERAL AWARDS
U.S. Department of Housing and Urban Development
Direct Programs:
Assistant Secretary for Community Planning and Development:
CDBG - Entitlement Grants Cluster:
Community Development Block Grants/Entitlement Grants
Community Development Block Grants/Entitlement Grants
Community Development Block Grants/Entitlement Grants
Community Development Block Grants/Entitlement Grants
COVID-19 - Community Development Block Grants/Entitlement Grants
Community Development Block Grants/Entitlement Grants
Total Assistance Listing
Total CDBG - Entitlement Grants Cluster
Emergency Solutions Grant Program
COVID-19 - Emergency Solutions Grant Program
Emergency Solutions Grant Program
Total Assistance Listing
Home Investment Partnerships Program
Home Investment Partnerships Program
Home Investment Partnerships Program
Home Investment Partnerships Program
Home Investment Partnerships Program
COVID-19 - Home Investment Partnerships Program
Total Assistance Listing
Total U.S. Department of Housing and Urban Development
U.S. Department of the Interior
Direct Programs:
Departmental Offices:
Payments in Lieu of Taxes
U.S. Fish and Wildlife Service:
National Wildlife Refuge Fund
Total U.S. Department of the Interior
U.S. Department of Justice
Direct Programs:
Office of Community Oriented Policing Service:
Public Safety Partnership and Community Policing Grants
Office of Justice Programs:
COVID-19 - Coronavirus Emergency Supplemental Funding Program
Drug Court Discretionary Grant Program
STOP School Violence
STOP School Violence
Total Assistance Listing
Edward Byrne Memorial Justice Assistance Grant Program
Edward Byrne Memorial Justice Assistance Grant Program
Pass -Through Programs:
Florida Department of Law Enforcement:
Edward Byrne Memorial Justice Assistance Grant Program
Total Assistance Listing
Florida Office of the Attorney General:
Florida Department of Legal Affairs:
Crime Victim Assistance
TRANSFERS TO
EXPENDITURES SUBRECIPIENTS
14.218
B-17-UC-12-0016
$ 31,721 $
31,721
14.218
B-18-UC-12-0016
94,335
-
14.218
B-19-UC-12-0016
253,677
40,465
14.218
B-20-UC-12-0016
1,201,632
1,093,745
14.218
B-20-UW-12-0016
387,101
272,273
14.218
B-21-UC-12-0016
1,099,196
750,869
3,067,662
2,189,073
3,067,662
2,189,073
14.231
E-20-UC-12-0016
64,530
63,568
14.231
E-20-UW-12-0016
2,185,431
2,042,198
14.231
E-21-UC-12-0016
126,743
110,409
2,376,704
2,216,175
14.239
M16-UC120217
153,457
153,457
14.239
M18-UC120217
370,869
370,869
14.239
M19-UC120217
409,570
409,463
14.239
M20-UC120217
57,951
29,688
14.239
M21-UC120217
69,017
-
14.239
M21-UP120217
3,375
-
1,064,239
963,477
6,508,605 5,368,725
15.226
Collier County
1,504,100 -
15.659
Collier County
140,199 -
1,644,299 -
16.710
202OULWX0029
212,026 -
16.034
2020-VD-BX-1629
657 -
16.585
2020-DC-BX-0138
102,839 94,505
16.839
2018-YS-BX-0011
58,608 -
16.839
2019-YS-BX-0107
37,237 -
95,845
16.738
1SPBJA-21-GG-01326-JAGX
4,460 -
16.738
2020-DJ-BX-0131
62,299 -
16.738 2022-JAGC-COLL-I-3B-152 65,212
131,971
VOCA-2021-Collier County
16.575 Sheriff's-00624 185,819
(Continued)
See accompanying Notes to the Schedule of Expenditures of Federal Awards and State Financial Assistance.
188
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
FEDERAL AGENCY
PASS -THROUGH ENTITY
FEDERAL PROGRAM
ASSISTANCE
LISTING
NUMBER
GRANT/CONTRACT
IDENTIFYING
NUMBER
EXPENDITURES
TRANSFERS TO
SUBRECIPIENTS
FEDERAL AWARDS (Continued)
Institute for Intergovernmental Research (IIR):
Comprehensive Opioid, Stimulant, and Substance Abuse Program
16.838
2020-BRIDGES-0063
$ 50,914
$ 48,601
Total U.S. Department of Justice
780,071
143,106
U.S. Department of Transportation
Direct Programs:
Federal Aviation Administration:
Airport Improvement Program, COVID-19 Airports Programs,
and Infrastructure Investment and lobs Act Programs
20.106
3-12-0021-006-2021
1,997,375
-
COVID-19 -Airport Improvement Program, COVID-19 Airports
Programs and Infrastructure Investment and Jobs Act Programs
20.106
3-12-0031-015-2021
8,403
-
COVID-19 -Airport Improvement Program, COVID-19 Airports
Programs and Infrastructure Investment and Jobs Act Programs
20.106
3-12-0031-016-2022
16,359
-
COVID-19 - Airport Improvement Program, COVID-19 Airports
Programs and Infrastructure Investment and Jobs Act Programs
20.106
3-12-0142-014-2021
14,799
-
COVID-19 - Airport Improvement Program, COVID-19 Airports
Programs and Infrastructure Investment and Jobs Act Programs
20.106
3-12-0142-015-2022
39,413
-
Airport Improvement Program, COVID-19 Airports Programs,
and Infrastructure Investment and Jobs Act Programs
20.106
3-12-0142-016-2022
16,285
-
Total Assistance Listing
2,092,634
-
Federal Transit Administration:
Federal Transit Cluster:
Federal Transit Formula Grants
20.507
FL-90-X853-00
90,236
-
Federal Transit Formula Grants
20.507
FL-95-XO62-00
134,812
-
Federal Transit Formula Grants
20.507
FL-95-XO85-00
10,139
-
Federal Transit Formula Grants
20.507
FL-95-XO86-00
38,972
-
Federal Transit Formula Grants
20.507
FL-2016-056-00
24,190
-
Federal Transit Formula Grants
20.507
FL-2017-035-00
20,103
-
Federal Transit Formula Grants
20.507
FL-2017-044-00
30,555
-
Federal Transit Formula Grants
20.507
FL-2017-055-00
4,865
-
Federal Transit Formula Grants
20.507
FL-2018-024-00
39,487
-
Federal Transit Formula Grants
20.507
FL-2018-025-00
147,295
-
Federal Transit Formula Grants
20.507
FL-2018-034-00
21,625
-
Federal Transit Formula Grants
20.507
FL-2018-098-00
452
-
Federal Transit Formula Grants
20.507
FL-2019-041-00
8,399
-
Federal Transit Formula Grants
20.507
FL-2019-088-00
420,217
-
COVID-19 - Federal Transit Formula Grants
20.507
FL-2020-046-00
2,949,512
-
Federal Transit Formula Grants
20.507
FL-2020-063-00
39,535
-
Federal Transit Formula Grants
20.507
FL-2020-091-00
466,732
-
Federal Transit Formula Grants
20.507
FL-2020-103-00
1,910,365
-
Federal Transit Formula Grants
20.507
FL-2020-115-00
76,258
-
Federal Transit Formula Grants
20.507
FL-2022-005-00
867,796
-
COVID-19 - Federal Transit Formula Grants
20.507
FL-2022-015-00
643,041
-
Total Assistance Listing
7,944,586
-
Buses and Bus Facilities Formula, Competitive, and Low or
No Emissions Programs
20.526
FL-2018-008-00
11,000
-
Buses and Bus Facilities Formula, Competitive, and Low or
No Emissions Programs
20.526
FL-2018-084-00
94,086
-
Buses and Bus Facilities Formula, Competitive, and Low or
No Emissions Programs
20.526
FL-2019-097-00
7,722
-
Buses and Bus Facilities Formula, Competitive, and Low or
No Emissions Programs
20.526
FL-2021-033-00
2,000
-
Total Assistance Listing
114,808
-
Total Federal Transit Cluster
8,059,394
-
Office of the Secretary:
National Infrastructure Investments
20.933
693JJ32040007
545,161
-
(Continued)
189
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
FEDERAL AGENCY
PASS -THROUGH ENTITY
FEDERAL PROGRAM
ASSISTANCE
LISTING
NUMBER
GRANT/CONTRACT
IDENTIFYING
NUMBER
EXPENDITURES
TRANSFERS TO
SUBRECIPIENTS
FEDERAL AWARDS (Continued)
Pass -Through Programs:
Florida Department of Transportation:
Highway Planning and Construction Cluster:
Highway Planning and Construction
20.205
G1609
$ 3,S81
$ -
Highway Planning and Construction
20.205
G1M49
469,727
-
Highway Planning and Construction
20.205
G1002
942,678
-
Highway Planning and Construction
20.205
G2759
88
-
Highway Planning and Construction
20.205
G2821
141,563
-
Total Assistance Listing
1,557,637
-
Total Highway Planning and Construction Cluster
1,557,637
-
Metropolitan Transportation Planning and State and
Non -Metropolitan Planning and Research
20.505
G1J00
16,174
-
COVID-19 - Formula Grants for Rural Areas and Tribal Transit Program
20.509
G1M55
409,300
-
Formula Grants for Rural Areas and Tribal Transit Program
20.509
G1S83
338,527
-
Total Assistance Listing
747,827
-
Transit Services Programs Cluster:
Enhanced Mobility of Seniors and Individuals with Disabilities
20.513
G1V82
799
-
Total Transit Services Programs Cluster
799
-
Highway Safety Cluster:
State and Community Highway Safety
20.600
G2098
50,566
-
State and Community Highway Safety
20.600
G2364
45,924
-
Total Assistance Listing
96,490
-
Total Highway Safety Cluster
96,490
-
Total U.S. Department of Transportation
13,116,116
-
U.S. Department of the Treasury
Direct Programs:
Departmental Offices:
COVID-19 - Emergency Rental Assistance Program
21.023
ERA0334
7,450,841
359,347
COVID-19 - Emergency Rental Assistance Program
21.023
ERAE0037
3,649,863
9,600
Total Assistance Listing
11,100,704
368,947
COVID-19-CoronavirusState and Local Fiscal Recovery Funds
21.027
STL-1155 / SLFRP3243
18,341,559
6,681,674
Total U.S. Department of the Treasury
29,442,263
7,050,621
Gulf Coast Ecosystem Restoration Council
Pass -Through Programs:
The Gulf Consortium:
Gulf Coast Ecosystem Restoration Council Oil
Spill Impact Program
87.052
200097221.01
85,588
-
Total Gulf Coast Ecosystem Restoration Council
85,588
-
Election Assistance Commission
Pass -Through Programs:
Florida Department of State and Secretary of State:
2018 HAVA Election Security Grants
90.404
22.e.es.300.CLA
32,752
-
Total Election Assistance Commission
32,752
-
U.S. Department of Health and Human Services
Pass -Through Programs:
Florida Department of Elder Affairs:
Area Agency on Aging for Southwest Florida, Inc.:
Aging Cluster:
COVID-19 - Special Programs for the Aging, Title III, Part B, Grants for
Supportive Services and Senior Centers
93.044
ARPA 203.22
506
-
(Continued)
190
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
FEDERAL AGENCY
ASSISTANCE
GRANT/CONTRACT
PASS -THROUGH ENTITY
LISTING
IDENTIFYING
TRANSFERS TO
FEDERAL PROGRAM
NUMBER
NUMBER
EXPENDITURES
SUBRECIPIENTS
FEDERAL AWARDS (Continued)
Special Programs for the Aging, Title III, Part B, Grants for
Supportive Services and Senior Centers
93.044
OAA 203.21
$ 83,978
$ -
Special Programs for the Aging, Title III, Part B, Grants for
Supportive Services and Senior Centers
93.044
OAA 203.22
136,081
-
Total Assistance Listing
220,565
-
COVID-19 - Special Programs for the Aging, Title III, Part C, Nutrition Service
93.045
HCV21203.21
476
-
Special Programs for the Aging, Title III, Part C, Nutrition Services
93.045
OAA 203.21
288,081
-
Special Programs for the Aging, Title III, Part C, Nutrition Services
93.045
OAA 203.22
642,760
-
Total Assistance Listing
931,317
-
Nutrition Services Incentive Program
93.053
OAA 203.21
6,009
-
Nutrition Services Incentive Program
93.053
OAA 203.22
45,942
-
Total Assistance Listing
51,951
-
TotalAgingCluster
1,203,833
-
National Family Caregiver Support, Title III, Part E
93.052
OAA 203.21
43,822
-
National Family Caregiver Support, Title III, Part E
93.052
OAA 203.22
86,763
-
COVID-19 - National Family Caregiver Support, Title III, Part E
93.052
ARPA 203.22
1,744
-
Total Assistance Listing
132,329
-
Low -Income Home Energy Assistance
93.568
EHEAP 203.21
72,509
-
COVID-19 - Low -Income Home Energy Assistance
93.568
EHEAP ARPA 203.22
25,257
-
Total Assistance Listing
97,766
-
Florida Department of Revenue:
Child Support Enforcement
93.563
COC11
62,253
-
Florida Developmental Disabilities Council, Inc.:
Developmental Disabilities Basic Support and Advocacy Grants
93.630
1045TRP20
179
-
Total U.S. Department of Health and Human Services
1,496,360
-
Corporation for National and Community Service
Direct Programs:
AmeriCorps Seniors Retired and Senior Volunteer Program (RSVP) 94.002
94.002
21SRHFLO16
74,114
-
Total Corporation for National and Community Service
74,114
-
U.S. Executive Office of the President
Direct Programs:
High Intensity Drug Trafficking Areas Program
95.001
G19MI0015A
74
-
High Intensity Drug Trafficking Areas Program
95.001
G20MI0015A
108,118
-
High Intensity Drug Trafficking Areas Program
95.001
G21MI0015A
143,100
-
High Intensity Drug Trafficking Areas Program
95.001
G22MI0015A
39,254
-
Total U.S. Executive Office of the President
290,546
-
U.S. Department of Homeland Security
Pass -Through Programs:
Executive Office of the Governor:
Florida Division of Emergency Management:
Disaster Grants - Public Assistance (Presidentially Declared
Disasters)
97.036
Z0001
41,435
-
Hazard Mitigation Grant
97.039
H0311
14,944
-
COVID-19 - Emergency Management Performance Grants
97.042
G0245
13,918
-
Emergency Management Performance Grants
97.042
G0267
111,424
-
Total Assistance Listing
125,342
-
FireManagementAssistanceGrant
97.046
D0056
1,988
-
Homeland Security Grant Program
97.067
R0128
22,662
-
Homeland Security Grant Program
97.067
R0271
51,057
-
Homeland Security Grant Program
97.067
R0492
100,027
-
Total Assistance Listing
173,746
-
Total U.S. Department of Homeland Security
357,455
-
TOTAL EXPENDITURES OF FEDERALAWARDS
$ 53,828,169
$ 12,562,4S2
(Continued)
191
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
STATE AGENCY
PASS -THROUGH ENTITY
STATE PROJECT
CSFA
NUMBER
GRANT/CONTRACT
IDENTIFYING
NUMBER
TRANSFERS TO
EXPENDITURES SUBRECIPIENTS
STATE FINANCIAL ASSISTANCE
Florida Executive Office of the Governor
Direct Projects:
Florida Division of Emergency Management:
Emergency Management Programs
31.063
A0182
$ 105,806 $ -
Total Florida Executive Office of the Governor
105,806 -
Florida Department of Environmental Protection
Direct Projects:
Beach Management Funding Assistance Program
37.003
21CO1
2,801,094 -
Statewide Water Quality Restoration Projects
37.039
LPA0008
224,403 -
Statewide Water Quality Restoration Projects
37.039
LPA0154
111,708 -
Total CSFA
336,111 -
Total Florida Department of Environmental Protection
3,137,205 -
Florida Housing Finance Corporation
Direct Projects:
State Housing Initiatives Partnership Program (SHIP)
40.901
Collier County FY 2018-2019
101,642 -
State Housing Initiatives Partnership Program (SHIP)
40.901
Collier County FY 2019-2020
648,777 -
State Housing Initiatives Partnership Program (SHIP)
40.901
Collier County FY 2020-2021
269,105 -
State Housing Initiatives Partnership Program (SHIP)
40.901
Collier County FY 2021-2022
596,723 -
Total Florida Housing Finance Corporation
1,616,247 -
Florida Department of State and Secretary of State
Direct Projects:
State Aid to Libraries
45.030
18-ST-08
(614) -
State Aid to Libraries
45.030
19-ST-08
333 -
State Aid to Libraries
45.030
20-ST-08
209,712 -
Total CSFA
209,431 -
Acquisition, Restoration of Historic Porperties
45.032
20.h.sc.100.099
455,800 -
Total Florida Department of State and Secretary of State
665,231 -
Florida Department of Transportation
Direct Projects:
Florida Highway Beautification Grant Program
55.003
G1K22
103,522 -
Florida Highway Beautification Grant Program
55.003
G1K23
78,631 -
Total CSFA
182,153 -
Aviation Grant Programs
55.004
GOE50
64,080 -
Aviation Grant Programs
55.004
GOZ12
3,533,370 -
Aviation Grant Programs
55.004
GOZ16
4,456 -
Total CSFA
3,601,906 -
Public Transit Block Grant Program
55.010
G2576
1,116,412 -
Local Transportation Projects
55.039
GOT26
677 -
Local Transportation Projects
55.039
G1A39
92,523 -
Total CSFA
93,200 -
Pass -Through Projects:
Florida Commission forthe Transportation Disadvantaged:
Florida Commission for the Transportation Disadvantaged (CTD)
Trip and Equipment Grant Program
55.001
G1X61
486,994 -
Florida Commission for the Transportation Disadvantaged (CTD)
Trip and Equipment Grant Program
55.001
G2A00
173,188 -
Total CSFA
660,182 -
(Continued)
192
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022
STATE AGENCY
PASS -THROUGH ENTITY
STATE PROJECT
CSFA
NUMBER
GRANT/CONTRACT
IDENTIFYING
NUMBER
EXPENDITURES
TRANSFERS TO
SUBRECIPIENTS
STATE FINANCIAL ASSISTANCE (Continued)
Florida Commission for the Transportation Disadvantaged (CTD)
Planning Grant Program
55.002
G1Y10
$ 23,720
$ -
Florida Commission for the Transportation Disadvantaged (CTD)
Planning Grant Program
55.002
G2926
5,311
-
Total CSFA
29,031
-
Total Florida Department of Transportation
5,682,884
-
Florida Department of Children and Families
Direct Projects:
Criminal Justice, Mental Health, and Substance Abuse
Reinvestment Grant Program
60.115
LH823
158,098
139,269
Total Florida Department of Children and Families
158,098
139,269
Florida Department of Health
Direct Projects:
County Grant Awards
64.005
C0011
4,242
-
Total Florida Department of Health
4,242
-
Florida Department of Elder Affairs
Pass -Through Projects:
Area Agency on Aging for Southwest Florida, Inc.:
Home Care for the Elderly
65.001
HCE 203.21
11,640
-
Home Care for the Elderly
65.001
HCE 203.22
3,465
-
Total CSFA
15,105
-
Alzheimer's Respite Services
65.004
ADI 203.21
394,353
-
Alzheimer's Respite Services
65.004
ADI 203.22
136,851
-
Total CSFA
531,204
-
CommunityCarefortheElderly
65.010
CCE203.21
723,862
-
Community Care for the Elderly
65.010
CCE 203.22
219,389
-
Total CSFA
943,251
-
Total Florida Department of Elder Affairs
1,489,560
-
Florida Department of Management Services
Direct Projects:
Florida E911 Board:
Prepaid Next Generation 911(NG911) State Grant Program
72.003
S17-21-02-11
128,090
-
Total Florida Department of Management Services
128,090
-
Florida Fish and Wildlife Conservation Commission
Direct Projects:
Derelict Vessel Removal Program
77.005
21085
14,455
-
Derelict Vessel Removal Program
77.005
21222
64,030
-
Total Florida Fish and Wildlife Conservation Commission
78,485
-
TOTAL EXPENDITURES OF STATE FINANCIAL ASSISTANCE
$ 13,065,848
$ 139,269
193
COLLIER COUNTY, FLORIDA
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL
AWARDS AND STATE FINANCIAL ASSISTANCE
YEAR ENDED SEPTEMBER 30, 2022
1. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the
Schedule) includes the Federal and State grant activity for Collier County, Florida (the County) and is
presented on the modified accrual basis of accounting for expenditures accounted for in the
governmental funds and the accrual basis of accounting for expenditures in proprietary funds. Under
the modified accrual basis, revenue is recognized if it is both measurable and available for use during the
fiscal year and expenditures are recognized in the period liabilities are incurred, if measurable. Under
the accrual basis, expenditures are recognized in the period liabilities are incurred.
The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance), and Section 215.97, Florida Statutes. Therefore,
some amounts presented in the Schedule may differ from amounts presented, or used in the
preparation of, the basic financial statements for the fiscal year ended September 30, 2022.
2. Contingency
The grant revenue amounts received are subject to audit and adjustment. If any expenditures or
expenses are disallowed by the grantor agencies as a result of such an audit, any claim for
reimbursement to the grantor agencies would become a liability of the County.
3. Indirect Cost Rate
The County has not elected to use the 10 percent de minimus cost rate allowed under the Uniform
Guidance.
4. Negative Figures on the Schedule of Expenditures
Negative expenditures reported in the Schedules of Expenditures of Federal Awards and State Financial
Assistance are a result of corrections which reduced expenditures in one grant and increased
expenditures in another grant or funding source. Although the current expenditures on a grant may be
negative, the total of all expenditures on the grant is expected to be positive over its total period of
performance.
5. Disaster Grants - Public Assistance (Presidentially Declared Disasters) (97.036)
After a presidentially declared disaster, FEMA provides Disaster Grants — Public Assistance
(Presidentially Declared Disasters) (Assistance Listing 97.036) to reimburse eligible costs associated with
debris removal, emergency protective measures and the repair, restoration, reconstruction or
replacement of public facilities or infrastructure damaged or destroyed. Reimbursements are provided
in the form of cost -shared grants. Hurricane Irma (FEMA-4337-DR) made landfall in Collier County on
September 10, 2017. $22,964 of the $41,434 reported on the Schedule were incurred in fiscal years
2017 through 2021.
194
COLLIER COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED SEPTEMBER 30, 2022
SECTION I -SUMMARY OF AUDITORS' RESULTS
Financial Statements
Type of auditors' report issued?
Internal control over financial reporting:
• Material weakness(es) identified?
• Significant deficiency(s) identified that are not considered to be material
weaknesses?
Noncompliance material to the financial statements noted?
Federal Awards Section
Internal control over major programs:
• Material weakness(s) identified?
• Significant deficiency(s) identified that are not considered to be material
weaknesses?
Type of auditors' report issued on compliance for major programs?
Any audit findings disclosed that are required to be reported in accordance
with 2 CFR 200.516(a)?
Identification of major programs:
AL Numbers
14.231
20.106
20.507, 20.526
21.023
21.027
Unmodified
No
None reported
No
No
None reported
Unmodified
No
Name of Federal Program or Cluster
Emergency Solutions Grant Program
Airport Improvement Program
Federal Transit Cluster
Emergency Rental Assistance
Coronavirus State and Local Fiscal Recovery Funds
Dollar threshold used to distinguish between type A and type B programs
Auditee qualified as low -risk auditee?
$1,614,845
Irt
195
COLLIER COUNTY, FLORIDA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED)
YEAR ENDED SEPTEMBER 30, 2022
SECTION I - SUMMARY OF AUDITORS' RESULTS (CONTINUED)
State Financial Assistance Section
Internal control over major projects:
• Material weakness(s) identified? No
• Significant deficiency(s) identified that are not considered to be material
weaknesses? None reported
Type of auditors' report issued on compliance for major projects? Unmodified
Any audit findings disclosed that are required to be reported in accordance
with Chapter 10.557? No
Identification of major State projects:
State CSFA
37.003
55.004
65.010
Name of State Program or Cluster
Beach Management Funding Assistance Program
Aviation Grant Programs
Community Care for the Elderly
Dollar threshold used to distinguish between type A State projects $750,000
SECTION H -FINANCIAL STATEMENT FINDINGS
Our audit did not disclose any matters required to be reported in accordance with Government Auditing
Standards.
SECTION Ill - FINDINGS AND QUESTIONED COSTS — MAJOR FEDERAL PROGRAMS
Our audit did not disclose any matters required to be reported in accordance with 2 CFR 200.516(a).
SECTION IV - FINDINGS AND QUESTIONED COSTS — MAJOR STATE PROJECTS
Our audit did not disclose any matters required to be reported in accordance with Rule 10.554(1)(1)4,
Rules of the Florida Auditor General.
196
Clifton LarsonAllen LLP
. CLAconnect.com
MANAGEMENT LETTER
Honorable Board of County Commissioners
Collier County, Florida
Report on the Financial Statements
We have audited the financial statements of the Collier County, Florida, (County) as of and for the fiscal
year ended September 30, 2022, and have issued our report thereon dated April 21, 2023.
Auditor's Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America; the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance); and Chapter 10.550, Rules of the Auditor
General.
Other Reporting Requirements
We have issued our Independent Auditor's Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of the Financial Statements Performed in
Accordance with Government Auditing Standards; Independent Auditor's Report on Compliance for
Each Major Federal Program and State Project and Report on Internal Control over Compliance; and
Independent Accountant's Report on an examination conducted in accordance with AICPA Professional
Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550,
Rules of the Auditor General. Disclosures in those reports and schedule, which are dated April 21,
2023, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)l ., Rules of the Auditor General, requires that we determine whether or not
corrective actions have been taken to address findings and recommendations made in the preceding
financial audit report. There were no findings or recommendations made in the preceding financial audit
report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal
authority for the primary government and each component unit of the reporting entity be disclosed in
this management letter, unless disclosed in the notes to the financial statements. This information is
included in the notes to the basic financial statements.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAelobal.com/disclaimer.
Honorable Board of County Commissioners
Collier County, Florida
Financial Condition and Management
Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate
procedures and communicate the results of our determination as to whether or not the County met one
or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific
conditions met. In connection with our audit, we determined that the County 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(8), Rules of the Auditor General, we applied financial
condition assessment procedures for the County. It is management's responsibility to monitor the
County's financial condition, and our financial condition assessment was based in part on
representations made by management and review of financial information provided by same.
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any
recommendations to improve financial management. In connection with our audit, we did not have any
such recommendations.
Special District Component Units
Section 10.554(1)(i)5.c., Rules of the Auditor General, requires, if appropriate, that we communicate the
failure of a special district that is a component unit of a county, municipality, or special district, to
provide the financial information necessary for proper reporting of the component unit within the audited
financial statements of the county, municipality, or special district in accordance with Section
218.39(3)(b), Florida Statutes. In connection with our audit, we did not note any special district
component units that failed to provide the necessary information for proper reporting in accordance with
Section 218.39(3)(b), Florida Statutes.
Specific Information (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 required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Airport Authority reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 17.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 17.
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $1,415,315.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $250,577.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: None.
f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $16,451,638.
Honorable Board of County Commissioners
Collier County, Florida
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Community Redevelopment Agency reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 6.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 2.
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $620,982.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $23,321.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: None.
f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $11,573,830.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Educational Facilities Authority reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 0.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 1.
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $0.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $1,000.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: None.
f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $0.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Health Facilities Authority reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 0.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 1.
Honorable Board of County Commissioners
Collier County, Florida
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $0.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $4,500.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: None.
f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $0.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Housing Finance Authority reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 0.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 1.
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $0.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $7,500.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: None.
f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $0.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Industrial Development Authority reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 0.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 1.
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $0.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $7,500.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: None.
4
Honorable Board of County Commissioners
Collier County, Florida
A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $0.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor
General, the Collier County Water -Sewer District reported:
a. The total number of district employees compensated in the last pay period of the district's fiscal
year as 426.
b. The total number of independent contractors to whom nonemployee compensation was paid in
the last month of the district's fiscal year as 45.
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $40,611,552.
d. All compensation earned by or awarded to nonemployee independent contractors, whether paid
or accrued, regardless of contingency as $616,225.
e. Each construction project with a total cost of at least $65,000 approved by the district that is
scheduled to begin on or after October 1 of the fiscal year being reported, together with the total
expenditures for such project: See Appendix A.
A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes,
before the beginning of the fiscal year being reported if the district amends a final adopted
budget under Section 189.016(6), Florida Statutes, as $340,707,337.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires
provisions of contracts or grant agreements, or abuse, that
occurred, that have an effect on the financial statements that
attention of those charged with governance. In connection wi
finding.
Purpose of this Letter
us to communicate noncompliance with
have occurred, or are likely to have
is less than material but warrants the
th our audit, we did not note any such
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the Florida
Auditor General, Federal and other granting agencies, the Board of County Commissioners, and
applicable management, and is not intended to be and should not be used by anyone other than these
specified parties.
Clifton LarsonAllen LLP
Naples, Florida
April 21, 2023
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INDEPENDENT ACCOUNTANTS' REPORT
Honorable Board of County Commissioners
Collier County, Florida
We have examined Collier County, Florida's (the County) compliance with Section 218.415, Florida
Statutes, regarding the investment of public funds; Section 365.172(10) and 365.173(2)(d), Florida
Statutes, regarding emergency communications number E911 system fund during the year ended
September 30, 2022. Management of the County is responsible for the County's compliance with the
specified requirements. Our responsibility is to express an opinion on the County's compliance with the
specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the County complied, in all material
respects, with the specified requirements referenced above. An examination involves performing
procedures to obtain evidence about whether the County complied with the specified requirements. The
nature, timing, and extent of the procedures selected depend on our judgment, including an
assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the
evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
Our examination does not provide a legal determination on the County's compliance with specified
requirements.
In our opinion, the County complied, in all material respects, with Section 218.415, Florida Statutes,
regarding the investment of public funds; Section 365.172(10) and 365.173(2)(d), Florida Statutes,
regarding emergency communications number E911 system fund during the year ended September 30,
2022.
This report is intended solely for the information and use of the County 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.
CliftonLarsonAllen LLP
Naples, Florida
April 21, 2023
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAelobal.com/disclaimer.
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
ANNUAL DEBT REPORT (UNAUDITED)
Pursuant to the Collier County Debt Policy, the following Tables were prepared for the fiscal
year ended September 30, 2021.
Table 1. Calculation of Collier County General Governmental Debt Ratio
Table 2. Calculation of Collier County Enterprise Debt Ratios
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
TABLE 1
Calculation of Collier County General Governmental Debt Ratio
For the Fiscal Year Ended September 30, 2022
Bondable revenues, as defined by Collier County Debt Policy:
Current Ad Valorem Taxes
$
447,900,612
Governmental Impact Fees
55,322,733
Half Cent Sales Tax
65,042,976
Developmental Fees
33,787,177
State Revenue Sharing
17,758,152
5th Cent Local Option Gas Tax
6,658,706
6th Cent Local Option Gas Tax
8,730,806
Constitutional Gas Tax
4,842,557
Seventh Cent Gas Tax
2,110,817
Ninth Cent Gas Tax
1,852,992
Parks and Recreation Fees
7,951,718
Tourist Development Tax
47,470,485
Court Facilities Fees
1,027,832
Communications Services Tax
4,037,536
Total bondable revenues
$
704,495,099
Fiscal 2022 governmental debt service requirements:
Series 2012 Gas Tax Bonds
Principal:
$
3,615,000
Interest:
257,400
Series 2014 Gas Tax Bond (Direct Placement Loan)
Principal:
8,260,000
Interest:
1,155,220
Series 2010B Special Obligation Bonds
Principal:
2,630,000
Interest:
65,750
Series 2011 Special Obligation Bonds
Principal:
7,145,000
Interest:
837,378
Series 2013 Special Obligation Bonds
Principal:
-
Interest:
2,846,975
Series 2017 Special Obligation Bond (Direct Placement Loan)
Principal:
2,583,000
Interest:
1,253,829
Series 2019 Taxable Special Obligation Bond (Direct Placement Loan)
Principal:
-
Interest:
768,844
Series 2020A Special Obligation Bonds
Principal:
165,000
Interest:
3,122,875
Series 2020E Taxable Special Obligation Bonds
Principal:
2,275,000
Interest:
458,750
Series 2018 Tourist Development Tax Bonds
Principal:
1,080,000
Interest:
2,638,000
Commercial Paper Program
Principal:
-
Interest:
6,300
Total fiscal 2022 governmental debt service requirements
$
41,164,321
Governmental debt ratio of fiscal year 2022 debt service requirements
to total bondable revenues (13.0% maximum allowed by County policy)
5.8%
Notes:
Debt service is based upon current amortization tables for the fiscal year
indicated. Debt prepayments, if any, are not included as debt service requirements
TABLE 2
Calculation of Collier County Enterprise Debt Ratios
For the Fiscal Year Ended September 30, 2022
Collier County Water and Sewer District:
Total Sales Revenues
$
173,963,544
Miscellaneous Revenues
3,296,308
Total Operating Revenues
177,259,852
Non -Operating Revenues
(16,957,715)
Gross Revenues
160,302,137
Less: Operation and Maintenance
Expense (excluding Depreciation and Amortization)
113,391,644
Net Revenues Available for Debt Service (1)
$
46,910,493
Total Fiscal Year 2022 Debt Service on Bonds (2)
$
19,974,700
Net Revenues Debt Service Coverage on Bonded Debt
(100% Required) - (1/2)
235%
Other Pledged Funds:
System Development Fees (Impact Fees)
$
19,814,421
Total Pledged Funds Available for Debt Service (3)
$
66,724,914
Total Fiscal Year 2022 Debt Service on Bonds (4)
$
19,974,700
Total Pledged Funds Debt Service Coverage on Bonded Debt
(125% Required) - (3/4)
334%
Total Pledged Funds Available for Debt
Service After Payment of Bonds (5) $ 46,750,214
Total Fiscal Year 2022 Debt Service on
Subordinated Indebtedness (6) $ 8,797,480
Calculated Coverage on Subordinated Indebtedness - (5/6) 531%
Total Pledged Funds Available for System
Purposes $ 37,952,734
Notes:
Coverage calculations utilitize definitions of Gross Revenues, Net Revenues, System
Development Fees and Pledged Funds established in Resolution CWS 85-5, as
Amended and Restated.
2
Summary Debt Statement for Fiscal Year 2022
General Governmental Debt:
While the Florida State Constitution and the Florida Statutes set no legal debt limit at the local level, prudent
fiscal management requires a self-imposed level of restraint. Collier County's Debt Policy sets the
maximum allowable governmental debt ratio at 13.0%, and the County continues to operate below this
threshold. The governmental debt ratio is the ratio of debt service requirements to total bondable revenues,
as defined by Collier County's Debt Policy. It should be noted that while ad valorem taxes are bondable
for purposes of the governmental debt ratio calculation, they may only be pledged pursuant to voter
referendum.
The governmental debt ratio decreased by .2% for the fiscal year ended September 30, 2022, to 5.8% (see
Table 1), or less than half of the allowable ratio. This decrease is mainly reflective of increases in ad
valorem collections, tourist development tax revenues, half cent sales tax and governmental (non -utility)
impact fee collections. These revenue increases were offset by a 10.2% increase in debt service related to
the Series 2020 A and B Special Obligation Revenue Bonds. Overall, governmental revenues increased by
13.5% over fiscal year 2021. Again, this increase was largely the result of a 12.0% increase in FY-2022 ad
valorem collections.
Aggressive debt restructuring over the last ten years, coupled with the growth of general governmental
revenues, produced several consecutive years of decreases in the general governmental debt ratio. The
trend in the governmental debt ratio is shown in the table below:
Comparison of Governmental Debt Ratio to
Maximum Allowable Governmental Debt Ratio
Collier County, Florida (FYIS - FY22)
14.00%
12.00%
10.00%
13.0%
8.00% 7.6%
7.0/
g%
6.00%
4.00%
2.00%
0.00%
FY-2015 FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021 FY-2022
Annual Governmental Debt Ratio Maximum Allowable Governmental Debt Ratio
3
Summary of Existing and Newly Issued General Government Debt
Existing General Government Debt
The following table lists outstanding General Governmental Debt as of September 30, 2022:
Issue
Amount
Interest Rates
Final Maturity
Purpose
Series 2017 Special
$37,994,000
3.09%
July 1, 2034
Advance refund a portion of the
Obligation Refunding
Series 2010 Special Obligation
Revenue Note (Direct
Revenue Bonds.
Placement Loan)
Series 2019 Special
$28,060,000
2.74%
October 1, 2029
Fund the purchase of the Golden
Obligation Revenue Note
Gate Golf Course.
(Taxable Direct Placement
Loan)
Series 2020A Special
$74,935,000
4.00% - 5.00%
October 1, 2045
Fund stormwater and parks
Obligation Revenue Bonds
capital improvements and
refinance sports complex land
purchase.
Series 2020B Special
$21,800,000
2.00%
October 1, 2029
Fund the purchase of the HHH
Obligation Revenue Bonds
Ranch and the Camp Keais
(Taxable)
property.
Series 2022A Special
$32,865,000
1.43%
October 1, 2029
Refund all outstanding Series
Obligation Refunding
2011 Special Obligation
Revenue Note (Direct
Refunding Revenue Bonds.
Placement Loan)
Series 2022B Special
$75,560,000
1.85%
October 1, 2035
Refund all outstanding Series
Obligation Refunding
2013 Special Obligation
Revenue Note (Direct
Refunding Revenue Bonds.
Placement Loan)
Series 2012 Gas Tax
$3,760,000
3.00% - 5.00%
June 1, 2023
Advance refund Series 2003 Gas
Refunding Revenue Bonds
Tax Revenue Bonds.
Series 2014 Gas Tax
$34,685,000
2.33%
June 1, 2025
Advance refund a portion of the
Refunding Revenue Bond
Series 2005 Gas Tax Revenue
(Direct Placement Loan)
Bonds.
Series 2018 Tourist
$59,705,000
4.00% - 5.00%
October 1, 2048
Fund the construction and
Development Tax Revenue
equipping of a regional
Bonds
tournament caliber amateur
sports complex.
Commercial Paper Loan —
$1,000,000
2.15% - 2.84%
June 1, 2027
Construct sidewalk
Florida Local Government
improvements in the Pelican Bay
Finance Commission
(Variable Rate)
Services District.
New General Government Debt
On March 15, 2022, Collier County issued the Series 2022A Special Obligation Refunding Revenue Note
(Direct Placement Loan) in the par amount of $32,865,000. This note was issued for the purpose of
refunding the County's outstanding Special Obligation Refunding Revenue Bonds, Series 2011. The final
maturity of the Series 2022A Note is October 1, 2029, with an interest rate of 1.43%. The refunding
achieved a net present value savings of 5.58% on the refunded bonds, an aggregate debt service savings of
$1,927,082 and an economic gain of $1,820,723. The Series 2022A Special Obligation Refunding Revenue
Note was issued as a direct placement financing, secured with a lien on parity with all outstanding Special
Obligation Revenue debt. The refunded Series 2011 Special Obligation Refunding Revenue Bonds had a
redemption date of March 15, 2022.
On June 30, 2022, Collier County issued a $1,000,000 commercial paper loan through the Florida Local
Government Finance Commission's Pooled Commercial Paper Program. The loan was issued for purposes
of sidewalk improvements in the Pelican Bay Services District. The loan bears monthly variable interest
and is collateralized by all legally available non -ad valorem revenues as defined in the loan agreement.
On July 6, 2022, Collier County issued the Series 2022B Special Obligation Refunding Revenue Note
(Direct Placement Loan) in the par amount of $75,560,000. This note was structured as a forward purchase
agreement entered into on March 15, 2022, and issued for purposes of refunding the County's outstanding
Special Obligation Refunding Revenue Bonds, Series 2013. The final maturity of the Series 2022B Note
is October 1, 2035, with an interest rate of 1.85%. The refunding achieved a net present value savings of
14.17% on the refunded bonds, an aggregate debt service savings of $11,882,585 and an economic gain of
$10,460,042. The Series 2022B Special Obligation Refunding Revenue Note was issued as a direct
placement financing, secured with a lien on parity with all outstanding Special Obligation Revenue debt.
The refunded Series 2013 Special Obligation Refunding Revenue Bonds have a redemption date of October
1, 2022.
Collier County Governmental Bonded Debt Ratings Table:
Current Ratings (as of 4/25/2023)
Fitch
Moody's
Standard & Poor's
Gas Tax Revenue Bonds
AA-
A2
A+
Special Obligation Bonds
AA+
Aaa
AAA
Tourist Development Tax Bonds*
AA+
Aa3
-
* Standard & Poor's does not currently rate the Tourist Development Tax Bonds.
A rating of AA by Fitch Ratings denotes the expectations of very low default risk and indicates very strong
capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable
events. Fitch also uses intermediate +/- modifiers for each AA category.
A Moody's Investors Service rating of Aaa is indicative of an investment grade instrument of the highest
quality, with minimum credit risk. A Moody's Investors Service rating of Aa is indicative of a high quality
investment grade instrument with very low credit risk, whereas an A rating indicative of an upper -medium
grade instrument subject to low credit risk. Moody's uses intermediate modifiers of 1 (higher) to 3 (lower)
within the Aa and A ranges. Moody's also maintains an Issuer Credit Rating of Aaa for Collier County
which indicates excellent overall credit worthiness.
An obligation rated AAA has the highest rating assigned by Standard and Poor's Global Ratings. The
obligor's capacity to meet its financial commitments on the obligation is extremely strong. An obligation
rated A is somewhat more susceptible to the adverse effects of changes in circumstances and economic
conditions than obligations in higher -rated categories. However, the obligor's capacity to meet its financial
commitments on the obligation is still strong. Standard and Poor's Global Ratings also uses intermediate
+/- modifiers for each category to indicate relative standing within the major rating categories.
Collier County Enterprise Debt:
Currently, the Collier County Water and Sewer District (District) is the only County enterprise activity with
bonded debt outstanding. The Collier County Debt Policy does not set a maximum allowable enterprise
debt ratio, but coverage requirements related to the District's debt are set by bond covenants. Net revenues,
defined as operating revenues plus specific non -operating revenues less operating expenses, excluding
depreciation, must cover senior lien bonded debt service at 100%. Total pledged funds, defined as net
revenues plus impact fees and special assessments, if applicable, must cover senior lien bonded debt service
at 125%. Net revenue coverage on senior lien bonded debt was 235% and total pledged funds coverage on
senior lien bonded debt was 334% for FY-2022, down from 509% and 639%, respectively, for FY-2021
(see Table 2).
Bonded debt coverages for FY-2022 decreased primarily due to decreases in non -operating revenues and
an increase in the amount of senior lien debt service paid in FY-2022. Non -operating revenues decreased
due to unrealized losses related to investments. The Federal Reserve's rate hikes during FY-2022 had a
negative impact upon the District's portfolio valuation. Without the impact of the unrealized losses the FY-
2022 coverages are 334% and 433%, respectively. Senior lien debt service will decrease for FY-2023 with
the FY-2022 final maturity of the Series 2015 Water and Sewer Refunding Revenue Bond. The District's
calculated coverage on subordinated debt, all in the form of a bank loan with Synovus Bank, also decreased
from 660% to 531% (see Table 2). The total pledged funds coverage required by the subordinated loan
agreement is equivalent to 115% of total subordinated debt service in each fiscal year, after payment of
bonded senior lien debt service.
User rates for potable water, wastewater and irrigation water, as well as miscellaneous revenues, offset
system operating, maintenance, debt service and capital costs. In July of 2021, the District Board adopted
rate increases as indicated in the following table, effective October 1 of the respective fiscal year:
Rate Type
FY-2022
FY-2023
FY-2024
Water User
2.9%
4.0%
4.0%
Wastewater User
2.9%
5.0%
5.0%
Irrigation Quality User
2.9%
9.0%
9.0%
The District's focus remains the optimization of resources, risk -based prioritization of capital projects and
infrastructure expansion in Golden Gate City and the northeast service area to serve future residents and
businesses.
Existing Enterprise Debt
The following table lists outstanding Enterprise Debt as of September 30, 2022:
Issue
Amount
Interest Rates
Final Maturity
Purpose
Series 2016 Water and Sewer
$48,105,000
5.00%
July 1, 2036
Refund remaining portion of the
Refunding Revenue Bonds
Series 2006 Water and Sewer
Revenue Bonds.
Series 2016 Water and Sewer
$42,469,000
1.80%
July 1, 2029
Refund all outstanding State
Refunding Revenue Note
Revolving Fund Loans.
(Subordinated)
Series 2018 Water and Sewer
$25,155,000
2.41%
July 1, 2029
Fund the purchase of water and
Revenue Bond (Bank Term
wastewater facilities within the
Loan)
Golden Gate Community.
Series 2019 Water and Sewer
$76,185,000
3.00% - 5.00%
July 1, 2039
Fund utility improvements in the
Revenue Bonds
northeast area of the District.
Series 2021 Water and Sewer
$126,845,000
4.00% - 5.00%
July 1, 2046
Fund utility improvements in
Revenue Bonds
Golden Gate City, the
Governmental Operations
Business Park and the northeast
area of the District.
New Enterprise Debt
The District issued no new debt during fiscal year 2022.
Collier County Enterprise Debt Ratings Table:
Current Ratings (as of 4/25/2023)
Fitch
Moody's
Standard & Poor's*
Water and Sewer Revenue Bonds
AAA
Aaa
-
* Standard & Poor's does not currently rate County Water and Sewer Revenue Bonds.
A rating of AAA by Fitch Ratings denotes the lowest expectation of default risk. A rating of AAA is only
assigned in cases of exceptionally strong capacity for payment of financial commitments. This capacity is
highly unlikely to be adversely affected by foreseeable events.
A Moody's Investors Service rating of Aaa is indicative of an investment grade instrument of the highest
quality, with minimum credit risk.
7
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
Collier County, Florida
Clerk of the Circuit Court and Coi
Financial Statements and
Supplemental Reports
Year Ended September 30, 2
CPAs I CONSULTANTS I WEALTH ADVISORS
C LAconnect.com
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Financial Statements and Other Reports
Year Ended September 30, 2022
Contents
IndependentAuditors' Report.......................................................................................................... I
Financial Statements
Balance Sheet — Governmental Funds........................................................................................4
Statement of Revenues, Expenditures, and Changes in Fund Balance —
GovernmentalFunds................................................................................................................5
Statement of Revenues, Expenditures, and Changes in Fund Balance — Budget and
Actual— General Fund.............................................................................................................6
Statement of Revenues, Expenditures, and Changes in Fund Balance — Budget and
Actual — Court Services Fund..................................................................................................7
Statement of Revenues, Expenditures, and Changes in Fund Balance — Budget and
Actual — Other Special Revenue Fund.....................................................................................8
Statement of Fiduciary Net Position — Custodial Funds.............................................................9
Statement of Changes in Fiduciary Net Position — Custodial Funds........................................10
Notes to Financial Statements................................................................................................... I I
Supplementary Information
Combining Statement of Fiduciary Net Position — All Custodial Funds..................................27
Combining Statement of Changes in Fiduciary Net Position — All Custodial Funds ...............28
Clifton LarsonAllen LLP
PAW
CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Collier County, Florida
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of each major fund and the aggregate
remaining fund information of the Collier County, Florida, Clerk of the Circuit Court and Comptroller
(Clerk), as of and for the year ended September 30, 2022, and the related notes to the financial
statements, which collectively comprise the Clerk's basic financial statements as listed in the table of
contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of each major fund and the aggregate remaining fund information of the
Clerk as of September 30, 2022, and the respective changes in financial position and the respective
budgetary comparisons for the General Fund, Court Services Fund, and Other Special Revenue Fund
for the year ended September 30, 2022, in accordance with accounting principles generally accepted in
the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Auditors' Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the Clerk and to meet our other
ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
Emphasis of Matter
As discussed in Note 1 to the financial statements, the financial statements of the Clerk referred to
above were prepared solely for the purpose of complying with the Rules of the Auditor General of the
State of Florida. In conformity with the Rules, the financial statements are intended to present the
financial position and changes in financial position of only that portion of each major fund and the
aggregate remaining fund information of Collier County, Florida that is attributable to the transactions of
the Clerk. They do not purport to, and do not, present fairly the financial position of Collier County,
Florida as of September 30, 2022, and the changes in its financial position for the year then ended in
accordance with accounting principles generally accepted in the United States of America. Our opinions
are not modified with respect to this matter.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. Se(- CLAglobal.com/disclaimer
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due
to fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Clerk's internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control related
matters that we identified during the audit.
2
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Required Supplementary Information
Management has omitted the management's discussion and analysis that accounting principles
generally accepted in the United States of America require to be presented to supplement the basic
financial statements. Such missing information, although not a part of the basic financial statements, is
required by the Governmental Accounting Standards Board, who considers it to be an essential part of
financial reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. Our opinions on the basic financial statements are not affected by this missing
information.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the Clerk's basic financial statements. The combining custodial fund statements
are presented for purposes of additional analysis and are not a required part of the basic financial
statements. Such 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.
The 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
GAAS. In our opinion, the combining custodial fund statements are fairly stated, in all material respects,
in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
February 1, 2023, on our consideration of the Clerk's internal control over financial reporting and on our
tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and
other matters. The purpose of that report is solely to describe the scope of our testing of internal control
over financial reporting and compliance and the results of that testing, and not to provide an opinion on
the effectiveness of the Clerk's internal control over financial reporting or on compliance. That report is
an integral part of an audit performed in accordance with Government Auditing Standards in
considering the Clerk's internal control over financial reporting and compliance.
CliftonLarsonAllen LLP
Naples, Florida
February 1, 2023
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Balance Sheet — Governmental Funds
As s ets
Cash and cash equivalents
Accounts receivable, net
Due from Collier County, Florida Board
of County Commissioners
Due from other governments
Total assets
Liabilities and fund balances
Liabilities:
September 30, 2022
Other
Total
Court
Special
Governmental
General
Services
Revenue
Funds
$ 2,564,667
$ 1,500,230
$ 8,578,762
$ 12,643,659
10,186
-
-
10,186
18,672
-
-
18,672
9,984
21,189
-
31,173
$ 2,603,509
$ 1,521,419
$ 8,578,762
$ 12,703,690
Vouchers payable and accrued liabilities
$ 927,788
$ 220,269
$ 29,351
$ 1,177,408
Due to Collier County, Florida Board of
County Commissioners
442,866
295,230
-
738,096
Due to other governments
-
660,423
-
660,423
Unearned revenue
-
345,497
-
345,497
Deposits
1,232,855
-
-
1,232,855
Total liabilities
2,603,509
1,521,419
29,351
4,154,279
Fund balance:
Restricted
-
-
8,549,411
8,549,411
Total fund balance
-
-
8,549,411
8,549,411
Total liabilities and fund balance
$ 2,603,509
$ 1,521,419
$ 8,578,762
$ 12,703,690
See accompanying Notes to Financial Statements.
4
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Governmental Funds
Year Ended September 30, 2022
Revenues:
Intergovernmental
Charges for services
Miscellaneous
Interest income
Total revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Debt service principal
Debt service interest
Total expenditures
Excess (deficiency) of revenues
over (under) expenditures
Other financing sources (uses):
Right to use leases
Transfers in:
Collier County, Florida Board of County
Commissioners appropriations
Transfers out:
Distribution of excess fees to State of
Florida
Distribution of excess appropriations to
Collier County, Florida Board of
County Commissioners
Total other financing sources (uses)
Net change in fund balance
Fund balances — beginning of year
Fund balances — end of year
Other
Total
Court
Special
Governmental
General
Services
Revenue
Funds
$ -
$ 553,301
$ -
$ 553,301
4,619,891
7,458,991
1,477,643
13,556,525
13,750
-
-
13,750
110,472
27,263
55,351
193,086
4,744,113
8,039,555
1,532,994
14,316,662
10,677,617 6,247,633
3,138,801 599,234
77,338 -
25,099 -
59,380 16,984,630
96,329 3,834,364
- 77,338
- 25,099
- 422
13,919,277
6,846,867
155,709
20,921,853
(9,175,164)
1,192,688
1,377,285
(6,605,191)
54,582
-
-
54,582
9,542,900
-
-
9,542,900
-
(1,192,688)
-
(1,192,688)
(422,318)
-
-
(422,318)
9,175,164
(1,192,688)
-
7,982,476
-
-
1,377,285
1,377,285
-
-
7,172,126
7,172,126
$ -
$ -
$ 8,549,411
$ 8,549,411
See accompanying Notes to Financial Statements.
5
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget and Actual
General Fund
Year Ended September 30, 2022
Revenues:
Charges for services
Miscellaneous
Interest income
Total revenues
Expenditures:
General government:
Personal services
Operating expenditures
Capital outlay
Debt service principal
Debt service interest
Total expenditures
Excess (deficiency) of revenues over
(under) expenditures
Other financing sources (uses):
Right to use leases
Transfers in:
Collier County, Florida Board of County
Commissioners appropriations
Transfers out:
Distribution of excess appropriations to
Collier County, Florida Board of County
Commissioners
Total other financing sources (uses)
Net change in fund balance
Fund balance — beginning of year
Fund balance — end of year
Variance
With Final
Budget
Budget Positive
Original Final Actual (Negative)
$ 4,089,100 $ 4,280,100 $ 4,619,891 $ 339,791
- - 13,750 13,750
25,000 100,000 110,472 10,472
4,114,100 4,380,100 4,744,113 364,013
10,402,400
10,696,900
10,677,617
19,283
2,806,100
3,203,100
3,138,801
64,299
270,800
23,000
77,338
(54,338)
-
-
25,099
(25,099)
-
-
422
(422)
13,479,300
13,923,000
13,919,277
3,723
(9,365,200)
(9,542,900)
(9,175,164)
367,736
54,582 54,582
9,365,200 9,542,900 9,542,900 -
- (422,318) (422,318)
9,365,200 9,542,900 9,175,164 (367,736)
See accompanying Notes to Financial Statements.
6
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget and Actual
Court Services Fund
Year Ended September 30, 2022
Revenues:
Intergovernmental
Charges for services
Interest income
Total revenues
Fxpenditures :
General government:
Personal services
Operating expenditures
Total expenditures
Excess of revenues over expenditures
Other financing uses:
Transfers out:
Distribution of excess fees to State of Florida
Total other financing uses
Net change in fund balance
Fund balance — beginning of year
Fund balance — end of year
Variance
With Final
Budget
Budget
Positive
Original
Final
Actual
(Negative)
$ 439,736 $
439,736
$ 553,301
$ 113,565
6,466,115
6,483,598
7,458,991
975,393
15,000
15,000
27,263
12,263
6,920,851
6,938,334
8,039,555
1,101,221
6,564,815 6,274,748 6,247,633
27,115
356,036 663,586 599,234
64,352
6,920,851 6,938,334 6,846,867
91,467
- - 1,192,688
1,192,688
(1,192,688) (1,192,688)
(1,192,688) (1,192,688)
See accompanying Notes to Financial Statements.
7
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget and Actual
Other Special Revenue Fund
Year Ended September 30, 2022
Variance
With Final
Budget
Budget
Positive
Original
Final
Actual
(Negative)
Revenues:
Charges for services
$ 1,500,000 $
1,500,000
$ 1,477,643
$ (22,357)
Interest income
12,000
12,000
55,351
43,351
Total revenues
1,512,000
1,512,000
1,532,994
20,994
Expenditures:
General government:
Personal services
1,146,400
1,146,400
59,380
1,087,020
Operating expenditures
1,948,700
2,520,200
96,329
2,423,871
Capital outlay
466,800
129,300
-
129,300
Total expenditures
3,561,900
3,795,900
155,709
3,640,191
Net change in fund balance
(2,049,900)
(2,283,900)
1,377,285
3,661,185
Fund balance — beginning of year
3,972,926
6,669,784
7,172,126
502,342
Fund balance — end of year
$ 1,923,026 $
4,385,884
$ 8,549,411
$ 4,163,527
See accompanying Notes to Financial Statements.
8
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Statement of Fiduciary Net Position
Custodial Funds
September 30, 2022
Assets
Cash and cash equivalents
$ 21,530,987
Total assets
21,530,987
Liabilities
Due to other governments
3,139,399
Total liabilities
3,139,399
Fiduciary Net Position
Restricted for:
Individuals, organizations, and other governments
18,391,588
Total fiduciary net position
18,391,588
Total liabilities and fiduciary net position
$ 21,530,987
See accompanying Notes to Financial Statements.
9
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Statement of Changes in Fiduciary Net Position
Custodial Funds
Year Ended September 30, 2022
Additions
Fees/Fines collected for other governments
$ 2,481,706
Registry and other deposits collected
25,656,571
Total additions
28,138,277
Deductions
Fees/Fines disbursed to other governments
2,537,388
Registry and other deposits disbursed
33,254,887
Total deductions
35,792,275
Change in fiduciary net position
(7,653,998)
Fiduciary net position - beginning of year
26,045,586
Fiduciary net position - end of year
$ 18,391,588
See accompanying Notes to Financial Statements.
10
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida Clerk of the Circuit Court and Comptroller (Clerk) is an elected
constitutional officer as provided for by the Constitution of the State of Florida. The Clerk's Budget
is presented pursuant to Chapter 218, Florida Statutes. Additionally, a budget is submitted to the
Florida Clerks of Court Operations Corporation for the Court Services Fund.
The financial statements presented include the general fund, special revenue funds, and custodial
funds of the Clerk's office. The accompanying financial statements were prepared for the purpose of
complying with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor
General - Local Governmental Entity Audits, which allows the Clerk to only present fund financial
statements. These financial statements present only the portion of the funds of Collier County,
Florida that are attributable to the Clerk. They are not intended to present fairly the financial position
and results of operations of Collier County, Florida in conformity with accounting principles
generally accepted in the United States of America.
The financial activities of the Clerk, as a constitutional officer, are included in the Collier County,
Florida Annual Comprehensive Financial Report. There are no separate legal entities (component
units) for which the Clerk is considered to be financially accountable.
The general operations of the Clerk are funded by fees from third parties, transfer in lieu of fees from
the Collier County, Florida Board of County Commissioners (Board), appropriations from the State
of Florida, and interest income. Pursuant to Chapter 218 Florida Statutes, funds remaining in the
general fund at fiscal year-end, in excess of amounts expended, are returned to the Board. Excess
revenues returned to the Board are reflected as transfers out in the Clerk's general fund. Court -related
operations are funded by the collection of fines, fees, costs and service charges and a child support
grant. Any surplus of revenues after expenditures in this fund is remitted to the State in January of
the next year. Special revenue funds are retained by the Clerk and budgeted according to
requirements of each source.
Measurement Focus, Basis of Accounting, and Basis of Presentation
These fund financial statements report detailed information about the Clerk. The focus of
governmental fund financial statements is on major funds rather than reporting funds by type. Each
major fund is reported in a separate column.
11
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds
Governmental funds are accounted for using the flow of current financial resources measurement
focus. Only current assets and current liabilities, generally, are included on the balance sheet.
Operating statements for these funds present increases (i.e., revenues and other financing sources)
and decreases (i.e., expenditures and other financing uses) in net current assets.
The Clerk reports the following major governmental funds:
General Fund —The general fund is used to account for all revenue and expenditures applicable to the
general operations of the Clerk, which are not accounted for in another fund. All operating revenue
not specifically restricted or designated as to use, is recorded in the general fund.
Court Services Fund — The court services fund is a special revenue fund established to account for
court -related filing fees, service charges, fines, court costs, appropriations and expenses of the Clerk
as mandated by Section 28.35, Florida Statutes.
Other Special Revenue Fund — The other special revenue fund is a special revenue fund used to
account for revenues mandated by Section 28.24(12)(d), Florida Statutes, to be held in trust by
the Clerk and used exclusively for equipment and maintenance of equipment, personnel training,
and technical assistance in modernizing the public records system of the office; and revenues
mandated by Section 28.24(12)(e) and Section 28.37(5), Florida Statutes, to be used exclusively for
funding court -related technology needs.
The modified accrual basis of accounting is used by governmental funds. Under the modified accrual
basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become
measurable and available to finance liabilities of the current fiscal year). For this purpose, the Clerk
considers revenues to be available if they are collected within 60 days after year-end. Expenditures
are recorded when the related fund liability is incurred, except for certain compensated absences,
which are recognized as expenditures to the extent they have matured.
Charges for services, interest income, and other revenues are recognized as they are earned and
become measurable and available to pay liabilities of the current period.
12
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds (continued)
With the implementation of Revision 7 to Article V on July 1, 2004, the Clerk's activities are
classified as court -related and non -court -related. The Clerk's general fund activity, which is
classified as non -court -related, is funded through service charges for recording instruments and
documents into the official records, interest income and through transfers in from the Board of
County Commissioners.
Florida Statutes provide that the amount by which revenues and transfers exceed annual expenditures
for the general fund be remitted to the Board immediately following the fiscal year for which the
funding was provided or following the fiscal year during which other revenues were recognized. The
amount of this distribution is recorded as a liability and as an other financing use in the accompanying
purpose financial statements.
Capital outlays expended in governmental funds are capitalized in the basic financial statements of
Collier County, Florida rather than in the governmental funds of the Clerk.
Additionally, the Clerk reports the following fund type:
Fiduciary Funds — Custodial Funds — Custodial funds are used to account for assets held by the
Clerk in a fiduciary capacity or as an agent for individuals, private organizations, and other
governments. Custodial funds are accounted for using the accrual basis of accounting.
Cash Equivalents
Cash equivalents are defined as highly liquid investments with original maturities of three months or
less. The Clerk does not currently hold investments.
Compensated Absences
All full-time employees of the Clerk are allowed to accumulate an unlimited number of hours of
unused sick leave and up to 240 hours of unused vacation leave (with limited exceptions per the
employee manual). Upon termination, employees receive 100% of allowable accumulated vacation
hours and a percentage of unused sick leave, depending on years of service. Vacation leave and sick
leave are included in governmental funds when the payments are made to employees. The Clerk is
not legally required to accumulate financial resources for these un-matured obligations. Accordingly,
the liability for compensated absences is not reported in the Clerk's funds, but rather is reported in
the basic financial statements of Collier County, Florida.
13
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Prepaid Items
The Clerk has elected to follow GASB Codification 1600.127 Other Expenditure Recognition
Alternatives and expends maintenance costs as they are incurred and does not allocate the cost
between periods.
Use of Estimates
The preparation of these financial statements requires management of the Clerk to make a number of
estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure
of contingent assets and liabilities at the date of the financial statements and the reported amounts of
revenues and expenditures during the period. Actual results could differ slightly from those
estimates.
Fund Balance Reporting and Governmental Fund -Type Definitions
Fund balances are classified either as non -spendable or as spendable. Spendable fund balances are
further classified in a hierarchy based on the extent to which there are external and/or internal
constraints in how fund balance amounts may be spent.
Non -spendable fund balances include amounts that cannot be spent because they are not in spendable
form or are legally or contractually required to be maintained intact. There were no non -spendable
fund balances at the Clerk as of September 30, 2022.
Spendable fund balances are classified based on a hierarchy of the Clerk's ability to control the
spending of these fund balances and are reported in the following categories: restricted, committed,
assigned and unassigned. The Clerk's fund balances for the special revenue funds fall into the
spendable restricted category. Fund balances maintained in the special revenue funds are restricted
pursuant to certain Florida Statutes and have been presented as restricted fund balances in the fund
financial statements in accordance with GASB Statement No. 54.
14
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Fund Balance Reporting and Governmental Fund -Type Definitions (continued)
When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance
is available, the Clerk considers restricted funds to have been spent first.
When an expenditure is incurred for which committed, assigned, or unassigned fund balances are
available, the Clerk considers amounts to have been spent first out of committed funds, then assigned
funds, and finally unassigned funds, as needed, unless the Clerk has provided otherwise in its
commitment or assignment actions.
2. Budgetary Process
Florida Statutes govern the preparation, adoption, and administration of the Clerk's annual budget.
The Clerk prepares and approves the budget for the Clerk's non -court functions, including special
revenue fund and the budget related to the recording function based on anticipated fees. The budget
of the Clerk for services to the Board is submitted to the Board.
Pursuant to Section 28.36, Florida Statutes, a balanced court -related budget must be prepared on or
before June 1 (for the period starting the next October 1 through September 30) and submitted to the
Florida Clerks of Court Operations Corporation (Corporation).
If the Clerk estimates that projected revenues are insufficient to meet anticipated expenditures, the
Clerk must report the revenue deficit to the Corporation. Once the Corporation verifies the revenue
deficit, the Clerk can increase fees up to the maximum amounts specified by law to resolve the
deficit. If a deficit is still projected, a request can be submitted to release funds from the Department
of Revenue Clerks of the Court Trust Fund. For the year ended September 30, 2022, the Clerk had
sufficient revenues to meet expenditures.
15
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
2. Budgetary Process (continued)
The budget is prepared on a basis consistent with accounting principles generally accepted in the
United States of America. The annual budget serves as the legal authorization for expenditures. Any
subsequent amendments to the Board approved transfer must be approved by the Board; amendments
to the Clerk's fee budget are at the discretion of the Clerk, and any amendments that increase or
decrease the court budget must be approved by the Corporation for the court services fund.
Budgetary changes within the court services fund not affecting the overall budget are made at the
discretion of the Clerk.
Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at year-
end. Budgetary control is maintained at the departmental major object expenditure level. Budgetary
changes within major object expenditure categories are made at the discretion of the Clerk.
The original budget is the first complete appropriated budget. The final budget is the original budget
adjusted by all reserves, transfers, allocations, supplemental appropriations, and other legally
authorized changes applicable to the fiscal year.
3. Cash and Cash Equivalents
At September 30, 2022, the carrying value of the Clerk's cash and cash equivalents was as follows:
Cash on hand
Demand deposits
Total cash and cash equivalents
Maturity
Carrying
Value
N/A $ 11,200
N/A 34,163,446
$ 34,174,646
Credit Rating
N/A
N/A
The Clerk maintains a cash pool for the deposits of all governmental and custodial funds. Each fund
type's portion of these balances is presented as cash and cash equivalents in the accompanying
financial statements. Interest income is allocated to each fund based on its proportionate balance in
the pool.
16
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
3. Cash and Cash Equivalents (continued)
Cash and cash equivalents as of September 30, 2022 are reported as $12,643,659 and $21,530,987 in
the governmental funds and fiduciary funds, respectively.
Custodial Credit Risk
At September 30, 2022, the Clerk's deposits were entirely covered by Federal Depository Insurance
or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida Statutes. Under
this Chapter, in the event of default by a participating financial institution (a qualified public
depository), all participating institutions are obligated to reimburse the governmental entity for the
loss.
Credit Risk
The Clerk's policy is to follow the guidance in Section 219.075, Florida Statutes, regarding the
deposit of funds received and the investment of surplus funds. Sections 219.075 and 218.415,
Florida Statutes, authorize the Clerk to invest in Florida PRIME or any intergovernmental
investment pool authorized pursuant to the Florida Inter -local Cooperation Act; Securities and
Exchange Commission registered money market funds with the highest credit quality rating from a
nationally recognized rating agency; direct obligations of the United States Treasury, federal
agencies and instrumentalities, or interest -bearing time deposits or savings accounts in banks
organized under the laws of the United States and doing business and situated in the State of Florida,
savings and loan associations which are under state supervision, or in federal savings and loan
associations located in the State of Florida and organized under federal law and federal supervision,
provided that any such deposits are secured by collateral as may be prescribed by law. Additionally,
Florida Statutes allow local governments to place public funds with institutions that participate in a
collateral pool under the Florida Security for Public Deposits Act. The pool is administered by the
State Treasurer, who may make additional assessments to ensure that no public funds will be lost.
Interest Rate Risk
Investment of Clerk's funds is based on maintaining 24-hour liquidity. All Clerks funds are held in
local banks or short-term investment instruments.
17
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
4. Interest Income and Investment of County Funds
Pursuant to Florida Statutes, Section 28.33, the Clerk invests all County funds in excess of those
required to meet expenses. Interest income is allocated to each fund based on its proportionate
balance in the pool. Interest income of $110,472 is reported in the general fund for the year ended
September 30, 2022, as the portion of interest earned on Clerk funds.
5. Capital Assets
Capital assets used by the governmental fund type operations are capitalized in the basic financial
statements of Collier County, Florida rather than in the governmental funds of the Clerk. Upon
acquisition, such assets are recorded as expenditures in the governmental funds of the Clerk and are
capitalized at cost in the basic financial statements of Collier County, Florida. Capital assets are
valued at historical cost or estimated historical cost if actual historical cost is not available. Donated
capital assets are valued at acquisition value on the date received.
The Clerk maintains custodial responsibility for capital assets used by the office. No depreciation
expense has been provided on capital assets in these financial statements. However, depreciation
expense on these assets is recorded in the basic financial statements of Collier County, Florida.
The following is a summary of changes in capital assets, which are reported in the basic financial
statements of Collier County, Florida:
October 1, Transfer- September 30,
2021 ' Additions Deductions out 2022
Machinery and equipment
$ 6,874,586 $
22,756 $
(2,843) $ (3,478) $
6,891,021
Right -to -use leased equipment
98,085
54,582
(65,140) -
87,527
Total capital assets
6,972,671
77,338
(67,983) (3,478)
6,978,548
Less accumulated depreciation
Machinery and equipment
(5,782,468)
(457,954)
2,843
2,685 (6,234,894)
Right -to -use leased equipment'
(65,997)
(24,521)
65,140
- (25,378)
Total accumulated depreciation
(5,848,465)
(482,475)
67,983
2,685 (6,260,272)
Total capital assets, net $ 1,124,206 $ (405,137) $ - $ (793) $ 718,276
1 The Clerk implemented GASB Statement No. 87 Leases in 2020. Right -to -use leased assets related to leases under GASB
Statement No. 87 were added to the Clerk's financial statement disclosure in 2022.
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
5. Capital Assets (continued)
During the year ended September 30, 2022, capital assets totaling $3,478 were transferred to another
department of Collier County, Florida.
The Clerk leases assets for various terms under certain agreements that meet the definition of a lease
under GASB Statement No. 87 — Leases. Detailed information about the Clerk's leases can be found
in the Collier County annual comprehensive financial report or County -wide financial statements.
Leases entered into by the Clerk are included as other financing sources and capital outlay
expenditures in the statement of revenues, expenditures, and changes in fund balance in the year of
inception. Payments made in accordance with the lease terms are reported as debt service
expenditures in the statement of revenues, expenditures, and changes in fund balance as they are
incurred.
During the year ended September 30, 2022, the Clerk entered into leases in the amount of $54,582.
During the year ended September 30, 2022, the Clerk's payments of principal on leases totaled
$25,099.
6. Long -Term Liabilities
The following is a summary of changes in long-term liabilities which are reported in the basic
financial statements of Collier County, Florida:
October 1, September 30,
2021 Additions Deletions 2022
Accrued compensated absences $ 1,923,245 $ 1,329,414 $ (1,126,665) $ 2,125,994
Of these liabilities, $999,217 is expected to be paid during the fiscal year ending September 30,
2023. These long-term liabilities are not reported in the financial statements of the Clerk since they
have not matured.
19
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
7. Pension Plans
Background
The Florida Retirement System (FRS) was created by Chapter 121, Florida Statutes, to provide a
defined benefit pension plan for participating public employees. The FRS was amended in 1998 to
add the Deferred Retirement Option Program under the defined benefit plan and amended in 2000 to
provide a 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
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 Clerk are eligible to enroll as members of the State -
administered FRS. 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 FRS 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 the two cost -sharing,
multiple -employer defined benefit plans and other nonintegrated programs. An annual
comprehensive financial report of the FRS, which includes its financial statements, required
supplementary information, actuarial report, and other relevant information, is available from the
Florida Department of Management Services' Web site (www.dms.myflorida.com).
Florida Retirement Svstem Pension Plan
Plan Description
The Florida Retirement System Pension Plan (FRS 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.
• Elected County Officers Class — Members who hold specified elective offices in local
government.
• Senior Management Service Class (SMSQ — Members in senior management level positions.
• Special Risk Class — Members who are special risk employees, such as law enforcement
officers, meet the criteria to qualify for this class.
20
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
7. Pension Plans (continued)
Plan Description (continued)
Employees enrolled in the FRS Plan prior to July 1, 2011, vest at 6 years of creditable service and
employees enrolled in the FRS Plan on or after July 1, 2011, vest at 8 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 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 FRS 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.
Employees enrolled in the FRS Plan may include up to 4 years of credit for military service toward
creditable service. The FRS 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 FRS
Plan provides retirement, disability, death benefits, and annual cost -of -living adjustments to eligible
participants.
DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for
normal retirement under the FRS Plan to defer receipt of monthly benefit payments while continuing
employment with an FRS participating employer. An employee may participate in DROP for a
period not to exceed 60 months after electing to participate, except that certain instructional
personnel may participate for up to 96 months. 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 FRS Plan are computed on the basis of age and/or years of service, average final
compensation, and service credit. 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 5 highest fiscal years' earnings; for members initially enrolled on
or after July 1, 2011, the average final compensation is the average of the 8 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 the retirement 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.
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
21
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
7. Pension Plans (continued)
Benefits Provided (continued)
adjustment is 3% 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% determined by dividing the sum of the pre -
July 2011 service credit by the total service credit at retirement multiplied by 3%. FRS Plan members
initially enrolled on or after July 1, 2011, will not have a cost -of -living adjustment after retirement.
Detailed information about the County's proportionate share of FRS's net pension liability, deferred
outflows/inflows of resources, and pension expense are reported in the government -wide statements
of the County.
Retiree Health Insurance Subsidy Prozram
Plan Description
The Retiree Health Insurance Subsidy Program (HIS Plan) is a cost -sharing multiple -employer
defined benefit pension plan established under Section 112.363, Florida Statutes, and may be
amended by the Florida Legislature at any time. 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 Florida Department of Management Services, Division of Retirement.
Benefits Provided
For the fiscal year ended June 30, 2022, eligible retirees and beneficiaries received a monthly HIS
payment of $5 for each year of creditable service completed at the time of retirement, with a
minimum HIS payment of $30 and a maximum HIS payment of $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 may include
Medicare.
Detailed information about the County's proportionate share of HIS's net pension liability, deferred
outflows/inflows of resources, and pension expense are reported in the government -wide statements
of the County.
22
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
7. Pension Plans (continued)
FRS Investment Plan
The Florida State Board of Administration (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 Annual Comprehensive 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. Clerk 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 are directed to individual member
accounts and the individual members allocate contributions and account balances among various
approved investment choices. Costs of administering plan, including the FRS Financial Guidance
Program are funded through an employer contribution of 0.06 percent of payroll and by forfeited
benefits of plan members.
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. Non -vested 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 June 30, 2022, 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 Clerk.
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
23
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
7. Pension Plans (continued)
under the FRS Pension Plan or remain in the Investment Plan and rely upon that account balance for
retirement income.
Contributions
Participating employer contributions are based upon statewide rates established by the State of
Florida. The Clerk's contributions made to the plans during the years ended September 30, 2022,
2021, and 2020 were $1,591,676, $1,323,776, and $1,138,484, respectively, equal to the actuarially
determined contribution requirements for each year.
Additional information about pension plans can be found in the Collier County annual
comprehensive financial report or County -wide financial statements.
8. Related Party Transactions
The Board provided funding for the Clerk in the amount of $9,542,900. The Supervisor of Elections
provided funding in the amount of a $51,000 fee for financial services performed by the Clerk. At
September 30, 2022, the Clerk had a payable due to the Board of $738,096, comprised as follows:
Distribution of excess fees $ 442,866
Amounts due for various court fees 295,230
Total due to Board of County Commissioners $ 738,096
9. Risk Management
Collier County, Florida (County) is exposed to various risks of loss, including, but not limited to,
general liability, health and life, property and casualty, auto and physical damage, and workers'
compensation. The County is substantially self -insured and accounts for and finances its risk of
uninsured losses through an internal service fund. All liabilities associated with these self -insured
risks are reported in the basic financial statements of the County. During the year ended
September 30, 2022, the Clerk was charged $2,621,116 by the County for participation in the risk
management program.
24
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
9. Risk Management (continued)
The County retains the first $500,000 per claim for workers' compensation and has purchased
outside excess coverage for up to the statutory limits for each injury and illness. The County also
provides coverage for $300,000 per occurrence for general liability and $300,000 per occurrence
for auto liability coverage and has purchased outside excess coverage for up to $5 million per
claim. Negligence claims in excess of the statutory limits set in Section 768.28, Florida Statutes,
which provide for limited sovereign immunity of $200,000/$300,000 per occurrence can only be
recovered through an act of the State Legislature. Property claims are subject to a 3 % wind
deductible and a $50,000 deductible for all other perils. The County retains the first $300,000
each claim for public official errors and omissions and $100,000 each loss for the crime coverage and
has purchased outside excess coverage for up to $5 million per claim for E&O and $1,000,000 each
loss for Crime. There have been no significant reductions in insurance coverage in the last year.
Settled claims have not exceeded the insurance provided by third -party carriers in any of the last
three years.
The County is self -insured for health claims covering all of its employees and their eligible
dependents. The County retains the first $1,000,000 per covered member and has purchased outside
excess coverage for all claims exceeding this amount. An actuarial valuation is performed each year
to estimate the amounts needed to pay prior and future claims and to establish reserves.
10. Other Postemployment Healthcare Benefits (OPEB) Plan
In accordance with Section 112.0801, Florida Statutes, the Clerk participates with Collier County in
offering retiring employees the opportunity to continue participation in the County's health insurance
plan. The participating retirees pay 100% of the premium cost applicable to an active employee. The
liability and expense for other postemployment benefits, calculated in accordance with Governmental
Accounting Standards Board Statement No. 75 Accounting and Financial Reporting for
Postemployment Benefits Other Than Pensions, are reported in the financial statements of the
County.
25
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Notes to Financial Statements
September 30, 2022
11. Claims and Contingencies
Litigation
The Clerk is routinely involved as defendant, plaintiff and as a "party in interest" in carrying out its
statutorily and constitutionally assigned tasks. During the year ended September 30, 2022, the Clerk
was involved in approximately 124,354 collection cases. These are court actions designed to collect
fees and costs imposed by the courts in criminal cases. The Clerk was involved in 270 bond
forfeiture actions. Those cases involve collecting forfeitures of criminal appearance bonds. There are
2 active actions for foreclosure of property in which the Clerk has been a named defendant.
In the opinion of the Clerk and legal counsel, the range of potential recoveries or liabilities from
matters involving litigation will not materially affect the financial position of the Clerk. The Clerk's
Office carries insurance to protect against loss.
26
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Combining Statement of Fiduciary Net Position
Custodial Funds
September 30, 2022
Jury and
Clerk's
Court
Ordinary
Total
Agency
Registry
Witness
Custodial Funds
As s ets
Cash and cash equivalents
$ 4,713,703
$ 16,811,634
$ 5,650
$ 21,530,987
Total assets
4,713,703
16,811,634
5,650
21,530,987
Liabilities
Due to othergovemments
3,139,399
-
-
3,139,399
Total liabilities
3,139,399
-
-
3,139,399
Fiduciary Net Position
Restricted for:
Individuals, organizations, and other governments
1,574,304
16,811,634
5,650
18,391,588
Total fiduciary net position
1,574,304
16,811,634
5,650
18,391,588
Total liabilities and fiduciary net position
$ 4,713,703
$ 16,811,634
$ 5,650
$ 21,530,987
27
Collier County, Florida
Clerk of the Circuit Court and Comptroller
Combining Statement of Changes in Fiduciary Net Position
Custodial Funds
Year Ended September 30, 2022
Jury and
Clerk's
Court
Ordinary
Total
Agency
Registry
Witness
Custodial Funds
Additions
Fees/Fines collected for other governments
$ 2,481,706
$ -
$ -
$ 2,481,706
Registry and other deposits collected
-
25,641,571
15,000
25,656,571
Total additions
2,481,706
25,641,571
15,000
28,138,277
Deductions
Fees/Fines disbursed to other governments
2,537,388
-
-
2,537,388
Registry and other deposits disbursed
-
33,226,784
28,103
33,254,887
Total deductions
2,537,388
33,226,784
28,103
35,792,275
Change in fiduciary net position
(55,682)
(7,585,213)
(13,103)
(7,653,998)
Fiduciary net position - beginning of year
1,629,986
24,396,847
18,753
26,045,586
Fiduciary net position - end of year
$ 1,574,304
$ 16,811,634
$ 5,650
$ 18,391,588
OPF
Clifton LarsonAllen LLP
CLAconnect.com
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Collier County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of each major fund and
the aggregate remaining fund information of the Collier County, Florida, Clerk of the Circuit Court and
Comptroller (Clerk), as of and for the year ended September 30, 2022, and the related notes to the
financial statements, which collectively comprise the Clerk's basic financial statements, and have
issued our report thereon dated February 1, 2023.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Clerk'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 opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the Clerk's internal
control. Accordingly, we do not express an opinion on the effectiveness of the Clerk's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist that were not identified.
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29
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Clerk'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 or other matters that are required to be reported under
Government Auditing Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity's internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity's internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
CliftonLarsonAllen LLP
Naples, Florida
February 1, 2023
Clifton LarsonAllen LLP
PAW
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MANAGEMENT LETTER
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Collier County, Florida
Report on the Financial Statements
We have audited the financial statements of the Collier County, Florida, Clerk of the Circuit Court
(Clerk) as of and for the year ended September 30, 2022, and have issued our report thereon dated
February 1, 2023.
Auditors' Responsibility
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 and Chapter 10.550, Rules of the
Auditor General.
Other Reporting Requirements
We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance
with Government Auditing Standards and Independent Accountants' Report on an examination
conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance
requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those
reports which are dated February 1, 2023 should be considered in conjunction with this management
letter.
Prior Audit Findings
Section 10.554(1)(i)l ., Rules of the Auditor General, requires that we determine whether or not
corrective actions have been taken to address findings and recommendations made in the preceding
annual financial audit report. There were no such findings reported in the prior audit report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal
authority for the primary government and each component unit of the reporting entity be disclosed in
this management letter, unless disclosed in the notes to the financial statements. See Note 1 in the
notes to the financial statements.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer 31
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Financial Management
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any
recommendations to improve financial management. In connection with our audit, we did not have any
such recommendations.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with
provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have
occurred, that have an effect on the financial statements that is less than material, but which warrants
the attention of those charged with governance. In connection with our audit, we did not note any such
findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the Florida
Auditor General, federal and other granting agencies, the Clerk and applicable management and is not
intended to be, and should not be, used by anyone other than these specified parties.
CliftonLarsonAllen LLP
Naples, Florida
February 1, 2023
32
Clifton LarsonAllen LLP
PAW
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INDEPENDENT ACCOUNTANTS' REPORT
Honorable Crystal K. Kinzel
Clerk of the Circuit Court and Comptroller
Collier County, Florida
We have examined the Collier County, Florida, Clerk of the Circuit Court and Comptroller's (Clerk)
compliance with Section 218.415, Florida Statutes, regarding the investment of public funds; Section
61.181, Florida Statutes, regarding clerks of the courts alimony and child support payments; and
Sections 28.35 and 28.36, Florida Statutes, regarding clerks of the courts performance standards and
budgets during the year ended September 30, 2022. Management of the Clerk is responsible for the
Clerk's compliance with the specified requirements. Our responsibility is to express an opinion on the
Clerk's compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the Clerk complied, in all material respects,
with the specified requirements referenced above. An examination involves performing procedures to
obtain evidence about whether the Clerk complied with the specified requirements. The nature, timing,
and extent of the procedures selected depend on our judgment, including an assessment of the risks of
material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is
sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
Our examination does not provide a legal determination on the Clerk's compliance with specified
requirements.
In our opinion, the Clerk complied, in all material respects, with Section 218.415, Florida Statutes,
regarding the investment of public funds; Section 61.181, Florida Statutes, regarding clerks of the
courts alimony and child support payments; and Sections 28.35 and 28.36, Florida Statutes, regarding
clerks of the courts performance standards and budgets during the year ended September 30, 2022.
This report is intended solely for the information and use of the Clerk 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.
CliftonLarsonAllen LLP
Naples, Florida
February 1, 2023
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33
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
Collier County, Florida
Property Appraiser
Financial Statements and
Supplemental Reports
Year Ended September 30, 2022
CPAs I CONSULTANTS I WEALTH ADVISORS
C LAconnect.com
Collier County, Florida
Property Appraiser
Financial Statements and Other Reports
Year Ended September 30, 2022
Contents
IndependentAuditors' Report ..........................................................................................................1
Financial Statements
Balance Sheet — General Fund......................................................................................................4
Statement of Revenues, Expenditures, and Changes in Fund
Balance— General Fund.............................................................................................................5
Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget (Non-GAAP) and Actual — General Fund....................................................6
Notesto Financial Statements.......................................................................................................7
Other Reports
Independent Auditors' Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed
in Accordance with Government Auditing Standards................................................................23
ManagementLetter........................................................................................................................25
Independent Accountants' Report ..................................................................................................27
Clifton LarsonAllen LLP
. CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Honorable Abe Skinner
Property Appraiser
Collier County, Florida
Report on the Audit of the Financial Statements
Opinion
We have audited the accompanying financial statements of the general fund of the Collier County, Florida,
Property Appraiser (the Property Appraiser), as of and for the year ended September 30, 2022, and the related
notes to the financial statements, which collectively comprise the Property Appraiser's basic financial
statements, as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial
position of the general fund of the Property Appraiser as of September 30, 2022, and the changes in financial
position and the budgetary comparisons for the General Fund for the year then ended in accordance with
accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards
are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our
report. We are required to be independent of the Property Appraiser and to meet our other ethical
responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Emphasis of Matter
As discussed in Note 1, the financial statements of the Property Appraiser referred to above were prepared
solely for the purpose of complying with the Rules of the Auditor General of the State of Florida. In conformity
with the Rules, the financial statements are intended to present the financial position, the changes in financial
position of only that portion of each major fund of Collier County, Florida that is attributable to the
transactions of the Property Appraiser. They do not purport to, and do not, present fairly the financial position
of Collier County, Florida as of September 30, 2022, the changes in its financial position for the year then
ended in accordance with accounting principles generally accepted in the United States of America. Our
opinion is not modified with respect to this matter.
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Honorable Abe Skinner
Property Appraiser
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance
with accounting principles generally accepted in the United States of America, and for the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error.
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our
opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always
detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if there is a
substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a
reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Property Appraiser's internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the financial
statements.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control related matters
that we identified during the audit.
2
Honorable Abe Skinner
Property Appraiser
Required Supplementary Information
Management has omitted management's discussion and analysis that accounting principles generally accepted
in the United States of America require to be presented to supplement the basic financial statements. Such
missing information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic
financial statements in an appropriate operational, economic, or historical context. Our opinions on the basic
financial statements are not affected by this missing information.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 14, 2022
, on our consideration of the Property Appraiser's internal control over financial reporting and on our tests of
its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.
The purpose of that report is solely to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of
the Property Appraiser's internal control over financial reporting or on compliance. That report is an integral
part of an audit performed in accordance with Government Auditing Standards in considering the Property
Appraiser's internal control over financial reporting and compliance.
i
CliftonLarsonAllen LLP
Naples, Florida
December 14, 2022
Collier County, Florida
Property Appraiser
Balance Sheet — General Fund
September 30, 2022
Assets
Cash and cash equivalents
Due from Collier County, Florida Board of
County Commissioners
Due from other taxing districts
Total assets
Liabilities and fund balance
Liabilities:
Accounts payable and accrued expenses
Due to Collier County, Florida Board of
County Commissioners
Due to other taxing districts
Total liabilities
Fund balance
Total liabilities and fund balance
See accompanying Notes to Financial Statements.
$ 1,840,577
352,297
16,151
$ 2,209,025
$ 186,639
803,879
1,218,507
2,209,025
$ 2,209,025
0
Collier County, Florida
Property Appraiser
Statement of Revenues, Expenditures, and
Changes in Fund Balance
General Fund
Year Ended September 30, 2022
Revenues:
Commissions and fees
$ 10,374,857
Charges for services
220,791
Miscellaneous
7,157
Total revenues
10,602,805
Expenditures:
General government:
Personal services
6,548,185
Operating
1,956,649
Capital outlay
20,920
Debt service - principal
54,118
Debt service - interest
2,043
Total expenditures
8,581,915
Excess of revenues over expenditures
2,020,890
Other financing Sources (uses):
Proceeds from lease 1,496
Distribution of excess fees and commissions to Collier County, Florida
Board of County Commissioners (803,879)
Distribution of excess fees and commissions to other
governmental agencies (1,218,507)
Total other financing Sources (uses) (2,020,890)
Net change in fund balance -
Fund balance, beginning of year -
Fund balance, end of year $ -
See accompanying Notes to Financial Statements.
5
Collier County, Florida
Property Appraiser
Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget (Non-GAAP) and Actual
General Fund
Year Ended September 30, 2022
Variance With
Final Budget
Budget
Positive
Original
Final
Actual
(Negative)
Revenues:
Commissions and fees
$ 9,072,872 $
9,076,190
$ 9,076,190
$ -
Miscellaneous
-
-
7,157
7,157
Total revenues
9,072,872
9,076,190
9,083,347
7,157
Expenditures:
General government:
Personal services
7,130,437
7,133,755
6,548,185
585,570
Operating
1,907,435
1,907,435
1,556,976
350,459
Capital outlay
35,000
35,000
20,920
14,080
Debt service - principal
-
-
54,118
(54,118)
Debt service - interest
-
-
2,043
(2,043)
Total expenditures
9,072,872
9,076,190
8,182,242
893,948
Excess of revenues over expenditures
-
-
901,105
901,105
Other financing uses:
Proceeds from lease -
- 1,496
1,496
Distribution of excess fees to
Collier County, Florida Board
of County Commissioners -
- (803,879)
(803,879)
Distribution of excess commissions
and fees to other governmental
agencies -
- (98,722)
(98,722)
Total other financing uses -
- (901,105)
(901,105)
Net change in fund balance - - - -
Fund balance, beginning of year - - - -
Fund balance, end of year
See accompanying Notes to Financial Statements.
0
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies
The following is a summary of significant accounting principles and policies used in the
preparation of the financial statements of the Collier County, Florida, Property Appraiser
(Property Appraiser).
Reporting Entity
The Property Appraiser is an elected official of Collier County, Florida (the County), pursuant to
the Constitution of the State of Florida, Article VIII, Section 1(d). The Property Appraiser is part
of the primary government of the County. Although the Board and the Florida Department of
Revenue approve the Property Appraiser's total operating budget, the Property Appraiser is
responsible for the administration and the operation of the Property Appraiser's office. The
Property Appraiser's financial statements include only the funds of the Property Appraiser's
office.
For financial reporting purposes, the Property Appraiser is deemed to be part of the primary
government of the County, and, therefore, is included as such in the County's Annual
Comprehensive Financial Report (ACFR). There are no component units included in the Property
Appraiser's financial statements.
Measurement Focus, Basis of Accounting, and Basis of Presentation
These financial statements have been prepared for the purpose of complying with Section
218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General — Local
Governmental Entity Audits, which allows the Property Appraiser to only present fund financial
statements. These financial statements present only the portion of the funds of Collier County,
Florida that are attributable to the Property Appraiser. They are not intended to present fairly the
financial position and results of operations of Collier County, Florida in conformity with
accounting principles generally accepted in the United States of America. The financial activities
of the Property Appraiser, as a constitutional officer, are included in the County's Annual
Comprehensive Financial Report (ACFR).
These fund financial statements report detailed information about the Property Appraiser. The
focus of governmental fund financial statements is on major funds rather than reporting funds by
type. Each major fund is reported in a separate column.
7
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds
Governmental funds are accounted for using the flow of current financial resources measurement
focus. Only current assets and current liabilities, generally, are included on the balance sheet.
Operating statements for these funds' present increases (i.e., revenues and other financing sources)
and decreases (i.e., expenditures and other financing uses) in net current assets. The Property
Appraiser's only governmental fund is the general fund. The general fund is used to account for the
general operations of the Property Appraiser.
The modified accrual basis of accounting is used by governmental funds. Under the modified
accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they
become measurable and available to finance liabilities of the current fiscal year). For this purpose,
the Property Appraiser considers revenues to be available if they are collected within 60 days after
year-end. Expenditures are recorded when the related fund liability is incurred, except for certain
compensated absences, which are recognized as expenditures to the extent they have matured.
Charges for services and interest income are recognized as they are earned and become measurable
and available to pay liabilities of the current period.
Interest revenue and miscellaneous revenue are recognized as they are earned and become
measurable and available to pay liabilities of the current period.
Substantially all of the Property Appraiser's revenue is received from taxing authorities. These
monies are virtually unrestricted and are revocable only for failure to comply with prescribed
compliance requirements. These resources are reflected as revenue at the time of receipt, earlier if
the "susceptible to accrual" criteria are met.
Florida Statutes provide that the amount by which revenues exceed annual expenditures be
remitted to each govermnental agency or the Board immediately following the fiscal year for
which the funding was provided or following the fiscal year during which other revenue was
recognized.
Capital outlays expended in the general fund operations are capitalized in the basic financial
statements of Collier County, Florida rather than in the governmental fund of the Property
Appraiser.
n.
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Refund of Excess Fees
Florida Statutes further provide that the excess of revenues over expenditures held by the Property
Appraiser be distributed to each governmental agency or the Board in the same proportion as the
fees paid by each governmental agency bear to total fee revenues. The amount of this distribution
is recorded as a liability and as another financing use -transfer out in the accompanying financial
statements.
Cash and Cash Equivalents
Cash and cash equivalents are highly liquid investments with original maturities of three months or
less.
Compensated Absences
All full-time employees of the Property Appraiser are allowed to accumulate an unlimited number
of hours of unused sick leave and up to 200 hours of unused vacation leave. Upon termination,
employees receive 100% of allowable accumulated vacation hours and a percentage of unused sick
leave, depending on years of service, not to exceed 1,040 hours. Vacation and sick leave payments
are included in operating costs of the general fund when the payments are made to the employees.
The Property Appraiser does not, nor is legally required to, accumulate financial resources for
these unmatured obligations. Accordingly, the liability for compensated absences is not reported
in the general fund of the Property Appraiser, but rather is reported in the basic financial
statements of Collier County, Florida.
Prepaid Expenses
The Property Appraiser has elected to follow GASB Codification 1600.127 Other Expenditure
Recognition Alternatives and expends maintenance costs as they are incurred and does not allocate
the cost between periods.
0
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of the financial statements requires management of the Property Appraiser to
make a number of estimates and assumptions relating to the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenditures during the period. Actual
results could differ from those estimates.
2. Budgetary Process
Florida Statutes govern the preparation, adoption, and administration of the Property Appraiser's
annual budget. The Property Appraiser prepares a budget for the general fund and submits it to the
Florida Department of Revenue for approval. A copy of the approved budget is provided to the
Board. Any subsequent amendments to the Property Appraiser's total budget must be approved by
the Florida Department of Revenue. The annual budget serves as the legal authorization for
expenditures. Expenditures may not legally exceed appropriations at the fund level.
Appropriations lapse at year-end. Budget control is maintained at the departmental major object
expenditure level. Budgetary changes within major object expenditure categories are made at the
discretion of the Property Appraiser.
The original budget is the first complete appropriated budget. The final budget is the original
budget adjusted by all reserves, transfers, allocations, supplemental appropriations, and other
legally authorized changes applicable to the fiscal year, whenever legally authorized.
The Property Appraiser's budget is prepared under a budgetary basis of accounting that differs
from generally accepted accounting principles (GAAP). Certain revenues received from TRIM
notices, non -ad valorem commissions, expenditures of such revenue, and other financing uses
related to non -ad valorem revenue are not recognized under the budgetary basis of accounting;
however, these items have been recognized under GAAP.
10
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
2. Budgetary Process (continued)
A reconciliation of revenues, expenditures, and other financing uses on a budgetary basis to a
GAAP is as follows:
Total revenues - budgetary basis
Revenues not budgeted:
Non -ad valorem commissions are not budgeted
TRIM reimbursements are not budgeted
Total revenues - GAAP basis
Total expenditures - budgetary basis
Expenditures not budgeted:
Non -ad valorem related expenditures are not budgeted
TRIM expenditures are not budgeted
Total expenditures - GAAP basis
Total other financing uses - budgetary basis
Other financing uses not budgeted:
Distribution of non -ad valorem excess fees are not budgeted
Total other financing uses - GAAP basis
3. Cash
$ 9,083,347
1,298,667
220,791
$10,602,805
$ 8,182,242
178,882
220,791
$ 8,581,915
$ (901,105)
(1,119,785)
$ (2,020,890)
At September 30, 2022, the carrying value of the Property Appraiser's cash was as follows:
Cash on hand
Demand deposits
Total cash
Carrying
Type Value
$ 125
1,840,452
$ 1,840,577
11
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
3. Cash (continued)
Custodial Credit Risk
At September 30, 2022, the Property Appraiser's deposits were entirely covered by Federal
Depository Insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280,
Florida Statutes. Under this Chapter, in the event of default by a participating financial institution
(a qualified public depository), all participating institutions are obligated to reimburse the
governmental entity for the loss.
Credit Risk
The Property Appraiser's policy is to follow the guidance in Section 219.075, Florida Statutes,
regarding the deposit of funds received and the investment of surplus funds. Sections 219.075 and
218.415, Florida Statutes, authorize the Property Appraiser to invest in Florida PRIME (formerly
the Local Government Surplus Funds Trust Fund) or any intergovernmental investment pool
authorized pursuant to the Florida Interlocal Cooperation Act; Securities and Exchange
Commission registered money market funds with the highest credit quality rating from a nationally
recognized rating agency; direct obligations of the United States Treasury; federal agencies and
instrumentalities or interest -bearing time deposits or savings accounts in banks organized under
the laws of the United States and doing business and situated in the State of Florida, savings and
loan associations which are under state supervision; or in federal savings and loan associations
located in the State of Florida and organized under federal law and federal supervision, provided
that any such deposits are secured by collateral as may be prescribed by law.
Interest Rate Risk
The Property Appraiser has no specific investment policy regarding interest rate risk.
12
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
4. Capital Assets
Capital assets used by the Property Appraiser are capitalized in the basic financial statements of
Collier County, Florida rather than in the governmental funds of the Property Appraiser. Upon
acquisition, such assets are recorded as expenditures in the general fund of the Property Appraiser
and are capitalized at cost in the basic financial statements of Collier County, Florida. Capital
assets are valued at historical cost or estimated historical cost if actual historical cost is not
available. Donated capital assets are valued at acquisition value on the date received. The Property
Appraiser maintains custodial responsibility for the capital assets used by the office. No
depreciation expense has been provided on capital assets in these financial statements. However,
depreciation expense on these assets is recorded in the basic financial statements of Collier
County, Florida.
The following is a summary of changes in capital assets for the year ended September 30, 2022:
October 1, September 30,
2021 Additions Deductions 2022
Improvements other than buildings
$ 15,332 $
- $
-
$ 15,332
Machinery and equipment
1,492,443
19,424
(17,298)
1,494,569
Right -to -use leased equipment
191,035
1,496
(108,592)
83,939
Total capital assets
1,698,810
20,920
(125,890)
1,593,840
Less: accumulated depreciation
(1,407,063)
(50,442)
17,298
(1,440,207)
Less: accumulated amortization'
(122,321)
(51,438)
108,592
(65,167)
Total Depreciable capital assets, ne
(1,529,384)
(101,880)
125,890
(1,505,374)
Total capital assets, net $ 169,426 $ (80,960) $ - $ 88,466
1 The Property Appraiser implemented GASB Statement No.87 Leases in 2020. Right -to -use leased assets related to leases
under GASB Statement No.87 were added to the Property Appraiser's financial statement disclosure in 2022.
5. Long -Term Liabilities
The following is a summary of changes in long-term liabilities, which are reported in the basic
financial statements of Collier County, Florida:
13
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
October 1, September 30,
2021 Increase Decrease 2022
Accrued compensated absences $ 532,262 $ 444,809 $ (486,293) $ 490,778
14
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
5. Long -Term Liabilities (continued)
Of these liabilities, approximately $100,000 is expected to be paid during the fiscal year ending
September 30, 2023, which will be included in the operating costs of the general fund when
expended. These long-term liabilities are not reported in the financial statements of the Property
Appraiser since they have not matured.
6. Pension Plans
Background
The Florida Retirement System (FRS) was created by Chapter 121, Florida Statutes, to provide a
defined benefit pension plan for participating public employees. The FRS was amended in 1998 to
add the Deferred Retirement Option Program under the defined benefit plan and amended in 2000
to provide a 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 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 Property Appraiser are eligible to enroll as members of the
State -administered FRS. 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 FRS
Rules, Chapter 605, 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 the two
cost -sharing, multiple -employer defined benefit plans and other nonintegrated programs. An
annual comprehensive financial report of the FRS, which includes its financial statements,
required supplementary information, actuarial report, and other relevant information, is available
from the Florida Department of Management Services' Web site (www.dms.myflorida.com).
15
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Florida Retirement System Pension Plan
Plan Description
The Florida Retirement System Pension Plan (FRS 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.
• Elected County Officers Class — Members who hold specified elective offices in local
government.
• Senior Management Service Class (SMSQ — Members in senior management level
positions.
• Special Risk Class — Members who are special risk employees, such as law enforcement
officers, meet the criteria to qualify for this class.
• Special Risk Administrative Support Class —Members who provide administrative support
for a special risk employer
Employees enrolled in the FRS Plan prior to July 1, 2011, vest at 6 years of creditable service and
employees enrolled in the FRS Plan on or after July 1, 2011, vest at 8 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 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 FRS 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. Employees enrolled in the FRS Plan may include up to 4 years of credit
for military service toward creditable service. The FRS 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 FRS Plan provides retirement, disability, death benefits, and annual
cost -of -living adjustments to eligible participants.
16
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for
normal retirement under the FRS Plan to defer receipt of monthly benefit payments while
continuing employment with an FRS participating employer. An employee may participate in
DROP for a period not to exceed 60 months after electing to participate, except that certain
instructional personnel may participate for up to 96 months. 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 FRS Plan are computed on the basis of age and/or years of service, average final
compensation, and service credit. 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 5 highest fiscal years' earnings; for members initially enrolled
on or after July 1, 2011, the average final compensation is the average of the 8 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 the retirement 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.
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% 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% determined by dividing the
sum of the pre -July 2011 service credit by the total service credit at retirement multiplied by 3%
FRS Plan members initially enrolled on or after July 1, 2011, will not have a cost -of -living
adjustment after retirement.
Detailed information about the County's proportionate share of FRS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -wide
statements of the County.
17
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Retiree Health Insurance Subsidy Program
Plan Description
The Retiree Health Insurance Subsidy Program (HIS Plan) is a cost -sharing multiple -employer
defined benefit pension plan established under Section 112.363, Florida Statutes, and may be
amended by the Florida Legislature at any time. 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 Florida Department of Management Services, Division of Retirement.
Benefits Provided
For the fiscal year ended June 30, 2022, eligible retirees and beneficiaries received a monthly HIS
payment of $5 for each year of creditable service completed at the time of retirement, with a
minimum HIS payment of $30 and a maximum HIS payment of $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 may
include Medicare.
Detailed information about the County's proportionate share of HIS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -wide
statements of the County.
FRS Investment Plan
The Florida State Board of Administration (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 Annual Comprehensive 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. Property Appraiser 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.
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Benefit terms, including contribution requirements, for the Investment Plan are established and
may be amended by the Florida Legislature. The Investment Plan is funded with the same
employer and employee contribution rates that are based on salary and membership class (Regular
Class, Elected County Officers, etc.), as the FRS defined benefit plan. Contributions are directed to
individual member accounts, and the individual members allocate contributions and account
balances among various approved investment choices. Costs of administering plan, including the
FRS Financial Guidance Program, are funded through an employer contribution of 0.06% of
payroll and by forfeited benefits of plan members.
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. Non -vested 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 June 30, 2022, 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 Property Appraiser.
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.
19
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
i'nwrih"tin» c
The contribution requirements of the Property Appraiser are established and may be amended by
the State of Florida. The Property Appraiser's employer contributions to the plan for the years
ended September 30, 2022, 2021, and 2020, were $693,093, $650,648, and $573,446,
respectively, equal to the required contributions for each year.
Additional information about pension plans can be found in the County's annual comprehensive
financial report or county -wide financial statements.
7. Other Postemployment Benefits
In accordance with Section 112.0801, Florida Statutes, the Property Appraiser participates with
Collier County in offering retiring employees the opportunity to continue participation in the
County's health insurance plan. The participating retirees pay 100% of the premium cost
applicable to an active employee. The liability and expense for other postemployment benefits,
calculated in accordance with Governmental Accounting Standards Board Statement No. 75,
Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, are
reported in the financial statements of the County.
8. Related Party Transactions
During the fiscal year ended September 30, 2022, the Board paid fees to the Property Appraiser
that amounted to $8,083,483. At September 30, 2022, the Property Appraiser had a receivable due
from the Board of $352,297, and a payable due to the Board of $803,879.
20
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
9. Risk Management
Collier County, Florida (County) is exposed to various risks of loss including but not limited to,
general liability, health and life, property, and casualty, auto and physical damage, and workers'
compensation. The County is substantially self -insured and accounts for and finances its risk of
uninsured losses through an internal service fund. All liabilities associated with these self -insured
risks are reported in the basic financial statements of the County. The Property Appraiser
participates in the County's self-insurance program. During the year ended September 30, 2022,
the Property Appraiser was charged $1,234,494 by the County for participation in the risk
management program.
The County retains the first $600,000 per claim for workers' compensation and has purchased
outside excess coverage for up to the statutory limits for each injury or illness. The County also
provides coverage for up to $250,000 per occurrence for general liability and $300,000 per
occurrence for auto liability coverage and has purchased outside excess coverage for up to
$5 million per claim. Negligence claims in excess of the statutory limits set in Section 768.20,
Florida Statutes, which provide for limited sovereign immunity of $200,000/$300,000 per
occurrence can only be recovered through an act of the State Legislature. Property claims are
subject to a 3% wind deductible and a $50,000 deductible for all other perils. The County retains
the first $100,000 per claim/$200,000 per occurrence for public official errors and omissions and
crime coverage and has purchased outside excess coverage for up to $5 million per claim. There
have been no significant reductions in insurance coverage in the last year. Settled claims have not
exceeded the insurance provided by third -party carriers in any of the last three years.
The County is self -insured for health claims covering all its employees and their eligible
dependents. The County retains the first $450,000 per covered member and has purchased outside
excess coverage for all claims exceeding this amount. An actuarial valuation is performed each
year to estimate the amounts needed to pay prior and future claims and to establish reserves.
21
Collier County, Florida
Property Appraiser
Notes to Financial Statements
September 30, 2022
10. Commitments and Contingencies
Litigation
The Property Appraiser is involved as a defendant or plaintiff in certain litigation and claims
arising from the ordinary course of operations. In the opinion of the Property Appraiser and legal
counsel, the range of potential recoveries or liabilities will not materially affect the financial
position of the Property Appraiser.
Leases
The Property Appraiser leases assets for various terms under certain agreements that meet the
definition of a lease under GASB Statement No. 87 — Leases. Detailed information about the Property
Appraiser's leases can be found in the Collier County annual comprehensive financial report or
County -wide financial statements.
Leases entered by the Property Appraiser are included as other financing sources and capital outlay
expenditures in the statement of revenues, expenditures, and changes in fund balance in the year of
inception. Payments made in accordance with the lease terms are reported as debt service expenditures
in the statement of revenues, expenditures, and changes in fund balance as they are incurred.
During the year ended September 30, 2022, the Property Appraiser entered into one lease in the amount
of $1,496. During the year ended September 30, 2022, the Property Appraiser's payments of principal
on leases totaled $54,118.
22
Clifton LarsonAllen LLP
. CLAconnect.com
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER
FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Abe Skinner
Property Appraiser
Collier County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of the general fund of the Collier County,
Florida, Property Appraiser (the Property Appraiser), as of and for the year ended September 30, 2022, and the
related notes to the financial statements, which collectively comprise the Property Appraiser's basic financial
statements, and have issued our report thereon dated December 14, 2022.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Property Appraiser'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 Property Appraiser's internal control.
Accordingly, we do not express an opinion on the effectiveness of the Property Appraiser's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial
statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in
internal control that we consider to be material weaknesses. However, material weaknesses or significant
deficiencies may exist that were not identified.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. 23
Honorable Abe Skinner
Property Appraiser
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Property Appraiser'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 or other matters that are required to be reported under Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the result of that testing, and not to provide an opinion on the effectiveness of the Property Appraiser'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 Property Appraiser's internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
GL�l� LLB
CliftonLarsonAllen LLP
Naples, Florida
December 14, 2022
24
0
Honorable Abe Skinner
Property Appraiser
Collier County, Florida
Report on the Financial Statements
Clifton LarsonAllen LLP
CLAconnect.com
MANAGEMENT LETTER
We have audited the financial statements of the Collier County, Florida, Property Appraiser (the Property
Appraiser) as of and for the fiscal year ended September 30, 2022, and have issued our report thereon dated
December 14, 2022.
Auditors' Responsibility
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 and Chapter 10.550, Rules of the Florida Auditor General.
Other Reporting Requirements
We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and on
Compliance and Other Matters based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards and Independent Accountants' Report on an examination conducted in
accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in
accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports which are dated
December 14, 2022, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual financial audit
report. There were no findings and recommendations made in the preceding annual financial audit report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority
for the primary government and each component unit of the reporting entity be disclosed in this management
letter, unless disclosed in the notes to the financial statements. See Note 1 in the notes to the financial
statements.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. 25
Honorable Abe Skinner
Property Appraiser
Financial Management
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to
improve financial management. In connection with our audit, we did not have any such recommendations.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with
provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that
have an effect on the financial statements that is less than material, but which warrants the attention of those
charged with governance. In connection with our audit, we did not have any such findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing Committee,
members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal
and other granting agencies, and the Property Appraiser and applicable management and is not intended to be,
and should not be, used by anyone other than these specified parties.
CliftonLarsonAllen LLP
Naples, Florida
December 14, 2022
26
0
Honorable Abe Skinner
Property Appraiser
Collier County, Florida
Clifton LarsonAllen LLP
CLAconnect.com
INDEPENDENT ACCOUNTANTS' REPORT
We have examined the Collier County, Florida, Property Appraiser's (the Property Appraiser) compliance
with Section 218.415, Florida Statutes, regarding the investment of public funds during the year ended
September 30, 2022. Management of the Property Appraiser is responsible for the Property Appraiser's
compliance with the specified requirements. Our responsibility is to express an opinion on the Property
Appraiser's compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American Institute
of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain
reasonable assurance about whether the Property Appraiser complied, in all material respects, with the
specified requirements referenced above. An examination involves performing procedures to obtain evidence
about whether the Property Appraiser complied with the specified requirements. The nature, timing, and extent
of the procedures selected depend on our judgment, including an assessment of the risks of material
noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and
appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant
ethical requirements relating to the engagement.
Our examination does not provide a legal determination on the Property Appraiser's compliance with specified
requirements.
In our opinion, the Property Appraiser complied, in all material respects, with Section 218.415, Florida
Statutes, regarding the investment of public funds during the year ended September 30, 2022.
This report is intended solely for the information and use of the Property Appraiser 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.
CliftonLarsonAllen LLP
Naples, Florida
December 14, 2022
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. 27
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
Collier County, Florida
Sheriff
Financial Statements and
Supplemental Reports
Year Ended September 30, 20
CPAs I CONSULTANTS I WEALTH ADVISORS
C LAconnect.com
Contents
Independent Auditors' Report..........................................................................................................1
Financial Statements
Balance Sheet — Governmental Funds.............................................................................................4
Statement of Revenues, Expenditures, and Changes in Fund Balances —
GovernmentalFunds.....................................................................................................................5
Statement of Revenues, Expenditures, and Changes in Fund Balances —
Budget (Non-GAAP) and Actual — General Fund........................................................................6
Statement of Net Position — Internal Service Fund..........................................................................7
Statement of Revenues, Expenses, and Changes in Net Position —
InternalService Fund....................................................................................................................8
Statement of Cash Flows — Internal Service Fund...........................................................................9
Statement of Fiduciary Net Position — Custodial Funds................................................................10
Statement of Changes in Fiduciary Net Position — Custodial Funds .............................................
I I
Notes to Financial Statements........................................................................................................12
Required Supplementary Information
Schedule of Changes in Total OPEB Liability and Related Ratios...............................................37
Combining Financial Information — Supplementary Information
Combining Statement of Fiduciary Net Position — Custodial Funds.............................................3 8
Combining Statement of Changes in Fiduciary Net Position — Custodial Funds ..........................39
Other Reports
Independent Auditors' Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in
Accordance With Government Auditing Standards....................................................................40
Schedule of Findings and Responses.............................................................................................42
ManagementLetter........................................................................................................................43
Independent Accountants' Report..................................................................................................45
OPF
Honorable Kevin Rambosk
Sheriff
Collier County, Florida
Clifton LarsonAllen LLP
CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of each major fund and the aggregate
remaining fund information of the Collier County, Florida, Sheriff (Sheriff), as of and for the year
ended September 30, 2022, and the related notes to the financial statements, which collectively
comprise the Sheriff's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of each major fund and the aggregate remaining fund information
of the Sheriff as of September 30, 2022, and the respective changes in financial position, and
where applicable, cash flows thereof, and the budgetary comparison for the general fund for the
year then ended, in accordance with accounting principles generally accepted in the United States
of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America (GAAS) and the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States. Our
responsibilities under those standards are further described in the Auditors' Responsibilities for
the Audit of the Financial Statements section of our report. We are required to be independent of
the Sheriff and to meet our other ethical responsibilities in accordance with the relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinions.
Emphasis of Matter
As discussed in Note 1, the financial statements of the Sheriff of Collier County, Florida referred
to above were prepared solely for the purpose of complying with the Rules of the Auditor General
of the State of Florida. In conformity with the Rules, the financial statements are intended to
present the financial position, the changes in financial position, and where applicable, cash flows
of only that portion of each major fund and the aggregate remaining fund information, of Collier
County, Florida that is attributable to the transactions of the Sheriff. They do not purport to, and
do not, present fairly the financial position of Collier County, Florida as of September 30, 2022,
the changes in its financial position, or, where applicable, its cash flows for the year then ended
in accordance with accounting principles generally accepted in the United States of America. Our
opinions are not modified with respect to this matter.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. Se(- CLAglobal.com/disclaimer
Honorable Kevin Rambosk
Sheriff
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements
in accordance with accounting principles generally accepted in the United States of America, and
for the design, implementation, and maintenance of internal control relevant to the preparation
and fair presentation of financial statements that are free from material misstatement, whether
due to fraud or error.
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditors'
report that includes our opinions. Reasonable assurance is a high level of assurance but is not
absolute assurance and therefore is not a guarantee that an audit conducted in accordance with
GAAS and Government Auditing Standards will always detect a material misstatement when it
exists. The risk of not detecting a material misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if
there is a substantial likelihood that, individually or in the aggregate, they would influence the
judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the
audit.
• Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, and design and perform audit procedures responsive to those risks.
Such procedures include examining, on a test basis, evidence regarding the amounts and
disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Sheriff's internal control. Accordingly,
no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluate the overall
presentation of the financial statements.
We are required to communicate with those charged with governance regarding, among other
matters, the planned scope and timing of the audit, significant audit findings, and certain internal
control related matters that we identified during the audit.
2
Honorable Kevin Rambosk
Sheriff
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
schedule of changes in total OPEB liability and related ratios, be presented to supplement the
basic financial statements. Such information is the responsibility of management and, although
not a part of the basic financial statements, is required by the Governmental Accounting
Standards Board who 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 in accordance with
GAAS, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management's responses to our
inquiries, the basic financial statements, and other knowledge we obtained during our audit of the
basic financial statements. We do not express an opinion or provide any assurance on the
information because the limited procedures do not provide us with sufficient evidence to express
an opinion or provide any assurance.
Management has omitted the management's discussion and analysis that accounting principles
generally accepted in the United States of America require to be presented to supplement the
basic financial statements. Such missing information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board, who considers it to be
an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. Our opinions on the basic financial statements are
not affected by this missing information.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the Sheriff's basic financial statements. The combining statements are
presented for purposes of additional analysis and are not a required part of the basic financial
statements. Such 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. The 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 GAAS. In our opinion, the combining statements are
fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
March 7, 2023, on our consideration of the Sheriff's internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant
agreements and other matters. The purpose of that report is solely to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing,
and not to provide an opinion on the effectiveness of the Sheriff's internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards in considering the Sheriff's internal control over financial
reporting and compliance.
d4 aa- � LLB
CliftonLarsonAllen LLP
Naples, Florida
March 7, 2023
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Collier County, Florida
Sheriff
Statement of Revenues, Expenditures and
Changes in Fund Balance — Budget (Non-GAAP) and Actual
General Fund
Year Ended September 30, 2022
Revenues:
Charges for services
Grant revenue
Total revenues
Expenditures:
General government:
Personal services
Operating expenditures
Public safety:
Personal services
Operating expenditures
Capital outlay
Debt service - principal
Debt service - interest
Total expenditures
Excess of expenditures over revenues
Other financing sources (uses):
Leases
Transfers in:
Collier County, Florida Board of County
Commissioners appropriations
Transfers out:
Distribution of excess appropriations to
Collier County, Florida Board of
County Commissioners
Total other financing sources
Net change in fund balance
Non -spendable fund balance — beginning of year
Non -spendable fund balance — end of year
Variance With
Budget
Budget
Positive
Original
Final
Actual
(Negative)
$ $
1,050,000
$ 1,294,878
$ 244,878
—
1,050,000
1,294,878
244,878
4,634,500
4,787,500
5,082,544
(295,044)
192,100
192,100
170,787
21,313
170,091,200
176,398,200
169,350,569
7,047,631
35,451,400
35,541,400
35,914,851
(373,451)
5,183,600
5,183,600
8,261,917
(3,078,317)
—
—
157,055
(157,055)
—
—
2238
(2,238)
215,552,800
222,102,800
218,939,961
3,162,839
(215,552,800)
(221,052,800)
(217,645,083)
3,407,717
—
—
31,376
31,376
215,552,800
211,052,800
211,052,800
—
—
—
(2,301,408)
(2,301,408)
215,552,800
211,052,800
208,782,768
(2,270,032)
Total revenues - budgetary basis
$
1,294,878
Revenues not budgeted:
Revenues for pandemic cost reimbursements that are not budgeted
10,000,000
Total revenues - GAAP basis
$
11,294,878
Total expenditures - budgetary basis
$
218,939,961
Expenditures not budgeted:
Expenditures for multi -period projects that are not budgeted
6,849,039
Total expenditure - GAAP basis
$
225,789,000
Total other financing sources - budgetary basis
$
208,782,768
Transfers in from Collier County Florida Board of County
Commissioners (non -appropriations)
6,849,039
Total other financing sources (uses) - GAAP basis
$
215,631,807
See accompanying Notes to Financial Statements 6
Collier County, Florida
Sheriff
Statement of Net Position — Internal Service Fund
September 30, 2022
Assets:
Cash and cash equivalents $ 5,211,408
Investments 11,117,676
Due from stop loss 248,164
Interest receivable 18,488
Total assets 16,595,736
Liabilities:
Self insurance claims payable 3,465,000
Unearned revenue 108,711
Total liabilities 3,573,711
Net position:
Unrestricted 13,022,025
Total net position $ 13,022,025
See accompanying Notes to Financial Statements 7
Collier County, Florida
Sheriff
Statement of Revenues, Expenses, and
Changes in Net Position — Internal Service Fund
Year Ended September 30, 2022
Operating revenues:
Charges for services
$ 33,231,472
Interest
10,876
Total operating revenues
33,242,348
Operating expenses:
Claims and claims expenses
29,105,905
Reinsurance premiums
2,038,774
Administrative and other expenses
743,150
Total operating expenses
31,887,829
Operating income
1,354,519
Nonoperating revenues:
Interest income, net of management fees
90,966
Net decrease in fair value of investments
(984,966)
Total nonoperating revenues
(894,000)
Change in net position
460,519
Net position — beginning of year
12,561,506
Net position — end of year
$ 13,022,025
See accompanying Notes to Financial Statements 8
Collier County, Florida
Sheriff
Statement of Cash Flows — Internal Service Fund
Year Ended September 30, 2022
Operating activities
Cash payments for claims and claims related services
Cash payments for reinsurance premiums
Cash payments for administrative services and supplies
Cash received from other funds for services
Cash received from retirees for services
Net cash provided by operating activities
Investing activities
Interest earnings, net of management fees
Purchase of securities
Proceeds from sales of securities
Net cash provided by investing activities
Net increase in cash, cash equivalents, and investments
Cash, cash equivalents, and investments — beginning of year
Cash, cash equivalents, and investments — end of year
Reconciliation of operating income to net cash
provided by operating activities
Operating income
Adjustments to reconcile operating income to
net cash provided by operating activities:
Decrease in due from stop loss
Decrease in due from other funds
Increase in self-insurance claims payable
Increase in unearned revenue
Net cash provided by operating activities
$ (28,831,290)
(2,038,774)
(732,274)
32,950,000
1,485,894
2,833,556
97,544
(3,350,683)
3,253,139
2,833,556
2,377,852
$ 5,211,408
$ 1,354,519
45,615
1,200,003
229,000
4,419
$ 2,833,556
See accompanying Notes to Financial Statements 9
Collier County, Florida
Sheriff
Statement of Fiduciary Net Position — Custodial Funds
September 30, 2022
Assets:
Cash and cash equivalents
Due from individuals and businesses
Total assets
Liabilities:
Due to other funds
Due to other
Total liabilities
Fiduciary Net Position:
Restricted for:
Individuals and Organizations
Private Purpose Trust Custodial Funds
Fund
$ 311,196 $
384,842
2,742
$ 311,196 $ 387,584
$ 78,109
8,268
86,377
$ 311,196 $ 301,207
See accompanying Notes to Financial Statements 10
Collier County, Florida
Sheriff
Statement of Changes in Fiduciary Net Position — Custodial Funds
Year Ended September 30, 2022
Private Purpose
Custodial Funds
Trust Fund
Additions:
Contributions:
Individuals $ 519,409 $ 3,770,663
Fees collected for other governments — 360,674
Miscellaneous — 2,391
Total additions 519,409 4,133,728
Deductions:
Beneficiary payments to individuals 478,439 3,739,858
Payment of fees to other governments — 132,696
Payments to other entities — 243,640
Total deductions 478,439 4,116,194
Net increase
in Fiduciary Net Position 40,970 17,534
Fiduciary Net Position - Beginning of year 270,226 283,673
Fiduciary Net Position - End of year $ 311,196 $ 301, 007
See accompanying Notes to Financial Statements 11
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida Sheriff (Sheriff) is an elected constitutional officer as provided for by
the Constitution of the State of Florida. Pursuant to Chapter 129, Florida Statutes, the Sheriff's
budget is submitted to the Collier County, Florida Board of County Commissioners (Board) for
approval. The Sheriff is the chief law enforcement officer of Collier County, Florida (County) and
is responsible for operating the County's corrections facilities.
The financial statements include the general fund, special revenue funds, proprietary fund (internal
service fund), and fiduciary funds of the Sheriff's office. The accompanying financial statements
were prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and
Chapter 10.550, Rules of the Auditor General — Local Governmental Entity Audits, which allows
the Sheriff to only present fund financial statements. These financial statements present only the
portion of the funds of Collier County, Florida that are attributable to the Sheriff. They are not intended
to present fairly the financial positions and results of operations of Collier County, Florida in
conformity with accounting principles generally accepted in the United States of America. There are
no separate legal entities (component units) for which the Sheriff is financially accountable.
Chapter 10.550, Rules of the Auditor General — Local Governmental Entity Audits, requires the
Sheriff to only present fund financial statements. Accordingly, due to the omission of government -
wide financial statements and related disclosures, including management's discussion and
analysis, these financial statements do not constitute a complete presentation of the financial
position of the Sheriff as of September 30, 2022 and the changes in its financial position and its
cash flows, where applicable, for the year then ended, in conformity with Governmental
Accounting Standards Board (GASB) Statement No. 34, Basic Financial Statements — and
Management's Discussion and Analysis — for State and Local Governments, but otherwise
constitute financial statements prepared in conformity with accounting principles generally
accepted in the United States of America.
As a result of the budgetary oversight by the Board and the financial dependency on the Board,
the financial activities of the Sheriff are included in the Collier County, Florida Annual
Comprehensive Financial Report.
12
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Measurement Focus, Basis of Accounting, and Basis of Presentation
Transfers are provided by appropriations from the Board pursuant to law. Estimated receipts and
budgeted fund balances must equal appropriations. The Sheriff is required to refund to the Board
all excess appropriations annually; therefore, no unappropriated general fund balance is carried
forward. However, the Sheriff currently has $1,137,685 in non -spendable fund balance to account
for prepaid items that cover multiple fiscal years. This non -spendable fund balance will be reduced
each fiscal year proportionate to the expenditure that is incurred for each fiscal year until the balance
is $0.
The fund financial statements report detailed information about the Sheriff. The focus of
governmental fund financial statements is on major funds rather than reporting funds by type. Each
major fund is reported in a separate column.
Governmental Funds
Governmental funds are accounted for using the flow of current financial resources measurement
focus. Only current assets and current liabilities, generally, are included on the balance sheet.
Operating statements for these funds present increases (i.e., revenues and other financing sources)
and decreases (i.e., expenditures and other financing uses) in net current assets.
The modified accrual basis of accounting is used by governmental funds. Under the modified
accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they
become measurable and available to finance liabilities of the current fiscal year). For this purpose,
the Sheriff considers revenues to be available if they are collected within 60 days after year-end
with the exception of grants, which have a period of availability of one year. Grants are recognized
as revenue as soon as all eligibility requirements have been met. Expenditures are recorded when
the related fund liability is incurred, except for compensated absences, which are recognized as
expenditures to the extent they have matured.
Substantially all of the Sheriff's funding is appropriated by the Board. In applying the susceptible
to accrual concept to intergovernmental revenue, there are essentially two types of revenue. In one,
money must be expended on the specific purpose or project before any amounts will be paid to the
Sheriff; therefore, revenue is recognized based upon the expenditures incurred. In the other, money
is virtually unrestricted and is revocable only for failure to comply with prescribed compliance
requirements. These resources are reflected as revenue at the time of receipt, or earlier, if the
"susceptible to accrual" criteria are met.
Other revenue is recognized as earned and becomes measurable and available to pay liabilities of
the current period.
13
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds (continued)
Florida Statutes provide that the amount by which revenues and transfers exceed annual
expenditures be remitted to the Board immediately following the fiscal year for which the funding
was provided or following the fiscal year during which other revenue was recognized. The amount
of this distribution is recorded as a liability and as another financing use in the accompanying
financial statements.
Capital outlays expended in governmental fund operations are capitalized in the basic financial
statements of Collier County, Florida rather than in the governmental funds of the Sheriff.
The Sheriff has three major governmental funds:
General Fund — The general fund is used to account for the general operations of the Sheriff
and includes all transactions which are not accounted for in another fund.
Grant Special Revenue Fund — This fund is used to account for the proceeds of federal and
state grant revenues that are legally restricted to specified purposes. It also includes funds
donated to the Collier County Sheriff's Office. Donated funds are used in accordance with how
each donor designates the use of funds. The majority of donated funds are usually designated
for youth programs, however, funds have also been donated for officer safety, use by specific
districts/substations for community activities, or other programs/activities in the community.
Prisoner Welfare Fund — This fund is used to account for the proceeds of inmate -related
services and is legally restricted to specified purposes, which benefit the inmate population.
The Sheriff also has the following non -major funds:
Reported as Other Non -major Special Revenue Funds
Confiscated Trust Fund — This fund is used to account for the proceeds of funds collected
pursuant to Florida Statute 932.705. Funds are used for local match for grants, drug abuse
education and prevention programs, and for other law enforcement purposes as the Board
deems appropriate.
Civil Citation — This fund is used to account for the proceeds of funds collected pursuant to
Florida Statute 775.083. Funds are used for local match for grants and to defray the costs for
crime prevention programs in the county.
14
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds (continued)
Education Trust Fund — This fund is used to account for the proceeds of funds collected
pursuant to Florida Statute 943.25. Funds are used to defray training costs.
E911— This fund is used to account for the proceeds of funds collected pursuant to Florida
Statute 365.172. Funds are used to pay certain costs associated with the Emergency 911
System.
Criminal Justice Education and Training — This fund is used to account for the proceeds of
funds collected pursuant to Florida Statute 943.25. Funds are used to defray training costs.
Domestic Violence Training Fund — This fund is used to account for the proceeds of funds
collected pursuant to Florida Statute 938.08. Funds are used to defray of incarcerating persons
sentenced under Florida Statute 741.283 and to provide additional training to law enforcement
personnel in combating domestic violence.
Fund balances reported in these funds are to be used for the specified purpose of the respective
fund.
Fiduciary Funds
Custodial Funds — These funds are used to account for assets held by the Sheriff as an agent for
individuals, private organizations, and other governments. Custodial funds are accounted for using
the accrual basis of accounting.
Private Purpose Trust Fund — These funds are used to account for flexible spending contributions
from agency members. The private purpose trust fund is accounted for using the accrual basis of
accounting.
Proprietary Fund
Internal Service Fund — This fund is used to account for the health and dental insurance services
provided to departments and retirees of the Sheriff on a cost -reimbursement basis. Proprietary
funds are accounted for 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.
15
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Proprietary funds distinguish operating revenues and expenses from nonoperating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods. The operating revenues of the internal service fund consist of charges for
services. Operating expenses include claims, stop loss premiums, and other administrative
expenses. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses.
Cash Equivalents and Investments
Cash equivalents are defined as highly liquid investments with original maturities of three months
or less.
The Sheriff invests funds throughout the year with Florida PRIME, an investment pool
administered by the State Board of Administration (SBA), under the regulatory oversight of the
State of Florida. Investments in Florida PRIME are made pursuant to Chapter 125.31, Florida
Statutes. Florida PRIME is considered a qualifying external investment pool that meets all the
necessary criteria to elect to measure all of the investments at amortized cost. Therefore, the fair
value of the Sheriff's position in the pool is the same as the value of the pool shares. The
investments are not categorized because they are not evidenced by securities that exist in physical
or book entry form. Throughout the year, and as of September 30, 2022, Florida PRIME contained
certain floating and adjustable rate securities. These investments represented 34.7% of Florida
PRIME's portfolio at September 30, 2022.
In accordance with GASB Statement No. 79, as a participant in a qualifying external investment
pool, the Sheriff should disclose the presence of any limitations or restrictions on withdrawals such
as redemption notice periods, maximum transaction amounts, and the qualifying external
investment pool's authority to impose liquidity fees or redemption gates in the notes to the
financial statements.
With regards to redemption gates, Chapter 218.409(8)(a), Florida Statutes, states that "The
principal, and any part thereof, of each account constituting the trust fund is subject to payment at
any time from the moneys in the trust fund. However, the Executive Director may, in good faith,
on the occurrence of an event that has a material impact on liquidity or operations of the trust fund,
for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can
invest moneys entrusted to it in exercising its fiduciary responsibility. Such action must be
immediately disclosed to all participants, the Trustees, the Joint Legislative Auditing Committee,
the Investment Advisory Council. The Trustees shall convene an emergency meeting as soon as
practicable from the time the Executive Director has instituted such measures and review the
necessity of those measures. If the Trustees are unable to convene an emergency meeting before
16
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
the expiration of the 48-hour moratorium on contributions and withdrawals, the moratorium maybe
extended by the Executive Director until the Trustees are able to meet to review the necessity for
the moratorium. If the Trustees agree with such measures, the Trustees shall vote to continue the
measures for up to an additional 15 days. The Trustees must convene and vote to continue any
such measures before the expiration of the time limit set, but in no case may the time limit set by
the Trustees exceed 15 days."
With regard to liquidity fees, Florida Statute 218.409(4) provides authority for the SBA to impose
penalties for early withdrawal, subject to disclosure in the enrollment materials of the amount and
purpose of such fees. At present, no such disclosure has been made.
At September 30, 2022, 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.
Prepaid Items
Prepaid items consist of certain costs which have been paid prior to the end of the fiscal year but
represent items which are applicable to future accounting periods. Reported amounts in
governmental funds are classified as nonspendable fund balance, in the fund financial statements,
which indicates that these amounts do not constitute "available spendable resources" even though
they are a component of current assets.
Compensated Absences
All full-time employees of the Sheriff are allowed to accumulate an unlimited number of hours of
unused sick time and up to 500 hours of unused vacation leave. Due to Hurricane Ian and the inability
for members to use PDO while under mandatory duty prior, during, and after the storm, the Sheriff
authorized the limit of PDO balances to be temporarily increased until December 31, 2022. Any
balances over 500 after that date will be reduced back to 500 hours. Upon termination, employees
receive 100% of allowable accumulated vacation hours. If the member leaves in good standing
they will also receive a percentage of unused sick leave, depending on years of service, not to
exceed 2,000 hours. Vacation time and sick leave are included in operating costs when the
payments are made to the employees. The Sheriff does not, nor is the Sheriff legally required to,
accumulate expendable financial resources for these unmatured obligations. Accordingly, the
liability for compensated absences is not reported in the governmental funds, but rather is reported
in the basic financial statements for the County.
17
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of the financial statements requires management of the Sheriff to make a number
of estimates and assumptions relating to the reported amounts of assets and liabilities and the
disclosure of contingent assets and liabilities at the date of the financial statements and the reported
amounts of revenues and expenditures/expenses during the period. Significant items subject to
such estimates and assumptions include the self-insurance claims payable. Actual results could
differ from those estimates.
Fund Balance Reporting and Governmental Fund -Type Definitions
Fund balances are classified either as non -spendable or as spendable. Spendable fund balances are
further classified in a hierarchy based on the extent to which there are external and/or internal
constraints in how fund balance amounts may be spent.
Non -spendable fund balances include amounts that cannot be spent because they are not in
spendable form or are legally or contractually required to be maintained intact. The Sheriff has
$1,137,685 as a non -spendable fund balances as of September 30, 2022.
Spendable fund balances are classified based on a hierarchy of the Sheriff's ability to control the
spending of these fund balances and are reported in the following categories: restricted, committed,
assigned, and unassigned. The Sheriff's fund balances for the Grant Special Revenue Fund, and
Prisoner Welfare Fund fall into this category.
Fund balances maintained in the Grant Special Revenue Fund and Prisoner Welfare Fund are
constrained for specific purposes that are externally imposed by donors, grantors, laws, or
regulations or imposed by law through constitutional provisions or enabling legislation, and are
reported as restricted fund balances.
2. Budgetary Process
Florida Statutes govern the preparation, adoption, and administration of the Sheriff's annual
budget. The Sheriff prepares a budget for the general fund and submits it to the Board for approval.
The budget is prepared on a basis consistent with accounting principles generally accepted in the
United States of America, except that the leases and the related capital outlay are not budgeted and
certain expenditures for long-term projects which are reimbursed by the Board are also not
budgeted. Any subsequent amendments to the budget must be approved by the Board. The annual
budget serves as the legal authorization for expenditures.
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
2. Budgetary Process (continued)
Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at year-
end. Budgetary control is maintained at the departmental major object expenditure level.
Budgetary changes within the major object expenditure categories are made at the discretion of
the Sheriff.
The Sheriff does not budget for the grant special revenue fund as it is funded by federal and state
grants and is governed by those documents. Additionally, the prisoner welfare fund does not have
a legally adopted budget.
The original budget is the first complete appropriated budget. The final budget is the original
budget adjusted by all reserves, transfers, allocations, supplemental appropriations, and other
legally authorized changes applicable to the fiscal year, whenever legally authorized.
19
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
3. Cash, Cash Equivalents and Investments
At September 30, 2022, the carrying value of the Sheriff's cash, cash equivalents, and investments
was as follows:
Carrying
Credit
Type
Maturity
Value
Rating
Cash on hand
N/A
$ 263,139
N/A
Demand deposits
N/A
25,522,312
N/A
Local government surplus funds trust fund:
Florida Prime (SBA)
N/A
805,892
Aaa
Total cash and cash equivalents
$ 26,591,343
Money Market
N/A
21,350
Not rated
Federal Home Loan Bank
1/15/2025
454,300
AA+
Federal Home Loan Bank STEP
1/29/2026
220,652
AA+
Federal Home Loan Bank
1/29/2026
219,250
AA+
Federal Home Loan Bank
2/26/2026
439,315
AA+
Federal Home Loan Bank STEP
2/18/2026
441,025
AA+
Federal Home Loan Bank
2/26/2027
120,613
AA+
Federal Home Loan Bank STEP
3/26/2026
447,375
AA+
Federal Home Loan Bank
12/9/2024
229,607
AA+
Federal Home Loan Bank
3/28/2025
453,760
AA+
Federal Home Loan Bank
9/30/2026
218,443
AA+
Federal Home Loan Bank
8/28/2024
319,348
AA+
Federal Farm Credit Bank
8/3/2026
87,264
AA+
Federal Farm Credit Bank
9/16/2025
446,740
AA+
Federal Farm Credit Bank
9/l/2026
437,520
AA+
Federal Farm Credit Bank
3/28/2024
469,725
AA+
Federal Farm Credit Bank
10/15/2024
460,230
AA+
Federal Farm Credit Bank
11/30/2023
524,106
AA+
Federal Farm Credit Bank
1/13/2025
359,134
AA+
Federal Farm Credit Bank
2/4/2026
219,325
AA+
Federal Farm Credit Bank
2/10/2025
455,160
AA+
Federal Home Loan Mortgage Corp.
7/30/2026
109,121
Aaa
Federal Home Loan Mortgage Corp.
10/20/2025
222,363
Aaa
Federal Home Loan Mortgage Corp.
6/23/2026
438,300
Aaa
Federal Home Loan Mortgage Corp.
1/7/2026
312,304
Aaa
Federal Home Loan Mortgage Assn.
11/25/2025
442,890
AA+
Treasury Note
3/31/2025
480,955
AA+
Treasury Note
5/31/2025
449,845
AA+
Treasury Bond
6/15/2023
486,680
AA+
Treasury Note
11/30/2026
422,878
AA+
Treasury Note
8/28/2027
227,803
AA+
Treasury Note
4/15/2025
480,295
AA+
Total Investments
11,117,676
Total cash, cash equivalents and investments
$ 37,709,019
*Credit ratings are Standard & Poor ratings except for FHLMC and Florida Prime which are
Moody ratings.
20
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
3. Cash, Cash Equivalents and Investments (continued)
The total cash, cash equivalent and investments balances at September 30, 2022, were as follows:
General fund
Grant special revenue fund
Prisoner welfare fund
Internal service fund
Custodial funds
Custodial Credit Risk
$ 15,397,123
1,879,848
3,406,926
16,329,084
696,038
$ 37,709,019
At September 30, 2022, the Sheriff's demand deposits were entirely covered by Federal Depository
Insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida
Statutes. Under this Chapter, in the event of default by a participating financial institution
(a qualified public depository), all participating institutions are obligated to reimburse the
government entity for the loss.
The investments in the Internal Service Fund are part of the Florida Sheriffs Employer Benefits
Trust (FSEBT) and are administered by FSEBT. FSEBT's policy requires execution of a third -
party custodial safekeeping agreement for purchased securities and collateral, and requires that
securities be held in the Sheriff's name.
Credit Risk
The Sheriff's policy is to follow the guidance in Sections 218.415 and 219.075, Florida Statutes,
regarding the deposit of funds received and the investment of surplus funds. The Sheriff's
Investment Policy authorizes investments in Florida PRIME (formerly the Local Government
Surplus Funds Trust Fund), or any intergovernmental investment pool authorized pursuant to the
Florida Interlocal Cooperation Act, as provided in s. 163.01, F.S.; Securities and Exchange
Commission registered money market funds with the highest credit quality rating from a nationally
recognized rating agency; interest -bearing time deposits or savings accounts in qualified public
depositories, as defined in s. 280.02, F.S.; and direct obligations of the U.S. Treasury.
21
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
3. Cash, Cash Equivalents and Investments (continued)
Credit Risk (continued)
Additionally, Florida Statutes allow local governments to place public funds with institutions that
participate in a collateral pool under the Florida Security for Public Deposits Act. The pool is
administered by the State Treasurer, who may make additional assessments to ensure that no public
funds will be lost.
Florida PRIME is administered by the State Board of Administration. Florida PRIME consisted of
money market appropriate assets. At September 30, 2022, the Sheriff had $805,892 invested in
Florida PRIME. Florida PRIME is rated "Aaa" by Moody's Ratings Services.
Interest Rate Risk
The Sheriff has no specific investment policy regarding interest rate risk.
Concentration of Credit Risk
The Sheriff's investments are included in the internal service fund which is used to account for the
Sheriff's self -insured health plan. FSEBT administers the investments for the Sheriff's self -insured
health plan and has an investment policy that allows for the investment of funds that exceed one
month's required funding by more than $100,000. Investments can be made in government
securities. The Sheriff's portfolio managed by FSEBT includes investments in U.S. government
instrumentalities, and demand deposits. There are also demand deposits that are not managed by
FSEBT and are available dollars managed by the Sheriff to cover daily operations.
The portion of the Sheriffs portfolio invested in FSEBT is detailed as follows, at September 30,
2022:
Money Market
Treasury Bond and Note
Federal Home Loan Mortgage Corp.
Federal Home Loan Mortgage Assn.
Federal Home Loan Bank
Federal Farm Credit Bank
Total
% of Portfolio
0%
23%
10%
4%
32%
31%
100%
22
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
3. Cash, Cash Equivalents and Investments (continued)
Fair Value Measurements
The Sheriff categorizes its fair value measurements within the fair value hierarchy established by
generally accepted accounting principles. The hierarchy is based on the valuation inputs used to
measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical
assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant
unobservable inputs.
The Sheriff has the following recurring fair value measurements as of September 30, 2022:
U.S. Treasury Notes classified as level 1 of the fair value hierarchy are valued using prices
quoted in active markets for those securities.
• U.S. Agency obligations classified as level 2 of the fair value hierarchy are valued using
quoted prices for similar assets in active markets.
4. Capital Assets
Capital assets used by the Sheriff are capitalized in the basic financial statements of Collier County,
Florida rather than in the governmental funds of the Sheriff. Upon acquisition, such assets are
recorded as expenditures in the governmental funds of the Sheriff and are capitalized at cost in the
basic financial statements of the County. Capital assets are valued at historical cost or estimated
historical cost if actual historical cost is not available. Donated capital assets are recorded at
acquisition value on the date received. The Sheriff maintains custodial responsibility for the capital
assets used by his office. No depreciation expense has been provided on capital assets in these
financial statements. However, depreciation expense on these assets is recorded in the basic
financial statements of Collier County, Florida.
23
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
4. Capital Assets (continued)
The following is a summary of changes in capital assets which are reported in the basic financial
statements of Collier County, Florida:
October 1, Deductions/ September 30,
20211 Additions Reclassifications 2022
Governmental Activities
Capital assets not depreciated:
Construction in Progress $ 2,369,223 $ 372,634 $ (2,148,876) $ 592,981
Total capital assets not depreciated 2,369,223 372,634 (2,148,876) 592,981
Capital assets depreciated and amortized:
Machinery and equipment
ROU leased equipment'
Total capital assets depreciated
Less accumulated depreciation and
amortization:
Machinery and equipment
ROU leased equipment'
Total Accumulated depreciation and
amortization
Total Depreciable capital
assets, net
Total Governmental Activities capital
assets, net
112,234,136
19,525,860
(5,951,136)
125,808,860
665,972
31,376
(60,275)
637,073
112,900,108
19,557,236
(6,011,411)
126,445,933
(70,550,251)
(254,249)
(15,282,423)
(193,636)
5,955,627
60,268
(79,877,047)
(387,617)
(70,804,500)
(15,476,059)
6,015,895
(80,264,664)
42,095,608 4,081,177 4,484 46,181,269
$ 44,464,831 $ 4,453,811 $ (2,144,3921 $ 46,774,250
1 The Sheriffs Office implemented GASB Statement No. 87 Leases in Fiscal Year 2020. Leases under GASB Statement
No. 87 were added to the financial statement disclosure in Fiscal Year 2022, resulting in a change in beginning balances.
5. Long -Term Liabilities
The following is a summary of changes in long-term liabilities, which are reported in the basic
financial statements of Collier County, Florida:
October 1,
Deductions/ September 30,
2021 Additions Reclassifications 2022
Compensated Absences $22,591,920 $6,013,073 ($4,399,732) $ 24,205,261
Of these liabilities, approximately $1,050,000 is expected to be paid during the fiscal year ending
September 30, 2023. These long-term liabilities are not reported in the financial statements of the
Sheriff since they have not matured.
24
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
5. Long -Term Liabilities (continued)
The Sheriff leases assets for various terms under certain agreements that meet the definition of a
lease under GASB Statement No. 87 — Leases. Detailed information about the Sheriff's leases can
be found in the Collier County Annual Comprehensive Financial Report or County -wide financial
statements.
Leases entered into by the Sheriff are included as other financing sources and capital outlay
expenditures in the Statement of Revenues, Expenditures, and Changes in Fund Balance in the
year of inception. Payments made in accordance with the lease terms are reported as debt service
expenditures in the Statement of Revenues, Expenditures, and Changes in Fund Balance as they
are incurred.
During the year ended September 30, 2022, the Sheriff entered into leases in the amount of
$31,376. During the year ended September 30, 2022, the Sheriff's principal and interest payments
on leases totaled $198,890.
6. Interfund Balances and Transfers
Due from and due to other funds at September 30, 2022, were as follows:
General Fund
Prisoner Welfare Fund
Internal Service Fund
Other non -major special revenue funds
Custodial funds
Total
Due From Due To
$ 380,487
65,454
99,644
268,188
— 78,109
$ 445,941 $ 445,941
Interfund receivables and payables generally represent recurring activities between funds.
25
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
7. Related Party Transactions
The Board provided funding for the Sheriff for the year of $211,052,800, and an additional
$10,000,000 was American Rescue Plan Act grant funds that is not included in appropriations. At
September 30, 2022, the Sheriff had a payable due to the Board of $2,350,909 comprised of the
following:
General fund:
Distributions of excess appropriations $ 2,301,408
Distribution of interest collected 27,496
Miscellaneous payables 22,005
Total $ 2,350,909
Additionally, the Sheriff had a receivable from the Board related to services provided to the County
of $1,885,103 at September 30, 2022.
8. Pension Plans
Background
The Florida Retirement System (FRS) was created by Chapter 121, Florida Statutes, to provide a
defined benefit pension plan for participating public employees. The FRS was amended in 1998
to add the Deferred Retirement Option Program under the defined benefit plan and amended in
2000 to provide a 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 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 Sheriff are eligible to enroll as members of the
State -administered FRS. 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 FRS
Rules, Chapter 605, 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 the two cost -sharing,
multiple -employer defined benefit plans and other nonintegrated programs. An annual
comprehensive financial report of the FRS, which includes its financial statements, required
supplementary information, actuarial report, and other relevant information, is available from the
Florida Department of Management Services' Web site (www.dms.myflorida.com).
26
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
8. Pension Plans (continued)
Florida Retirement System Pension Plan
Plan Description
The Florida Retirement System Pension Plan (FRS 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.
• Elected County Officers Class — Members who hold specified elective offices in local
government.
• Senior Management Service Class (SMSQ — Members in senior management level positions.
• Special Risk Class — Members who are special risk employees, such as law enforcement
officers, meet the criteria to qualify for this class.
• Renewed Membership Class —Members who retired from July 1, 1991 through June 30, 2010,
and are reemployed in a regularly established position with a covered employer, upon vesting
again, are eligible for an additional retirement benefit based on service as a renewed member.
Retirees of the FRS Investment Plan who are employed on or after July 1, 2017 are eligible for
renewed membership in the Investment Plan.
Employees enrolled in the FRS Plan prior to July 1, 2011, vest at 6 years of creditable service and
employees enrolled in the FRS Plan on or after July 1, 2011, vest at 8 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 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 FRS 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. Employees enrolled in the FRS Plan may include up to 4 years of credit
for military service toward creditable service. The FRS 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 FRS Plan provides retirement, disability, death benefits, and annual
cost -of -living adjustments to eligible participants.
27
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
8. Pension Plans (continued)
Plan Description (continued)
DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for
normal retirement under the FRS Plan to defer receipt of monthly benefit payments while
continuing employment with an FRS participating employer. An employee may participate in
DROP for a period not to exceed 60 months after electing to participate, except that certain
instructional personnel may participate for up to 96 months. 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 FRS Plan are computed on the basis of age and/or years of service, average
final compensation, and service credit. 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 5 highest fiscal years' earnings; for members initially
enrolled on or after July 1, 2011, the average final compensation is the average of the 8 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 the retirement 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.
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. FRS Plan members initially enrolled on or after July 1, 2011, will not have
a cost -of -living adjustment after retirement.
Detailed information about the County's proportionate share of FRS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -wide
statements of the County.
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
8. Pension Plans (continued)
Benefits Provided (continued)
Retiree Health Insurance Subsidy Program
Plan Description
The Retiree Health Insurance Subsidy Program (HIS Plan) is a cost -sharing multiple -employer
defined benefit pension plan established under Section 112.363, Florida Statutes, and may be
amended by the Florida Legislature at any time. 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 Florida Department of Management Services, Division of Retirement.
Benefits Provided
For the fiscal year ended June 30, 2022, eligible retirees and beneficiaries received a monthly HIS
payment of $5 for each year of creditable service completed at the time of retirement, with a
minimum HIS payment of $30 and a maximum HIS payment of $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 may
include Medicare.
Detailed information about the County's proportionate share of HIS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -wide
statements of the County.
FRS Investment Plan
The Florida State Board of Administration (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 Annual Comprehensive Financial
Report.
29
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
8. Pension Plans (continued)
Benefits Provided (continued)
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. Sheriff 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 are directed to individual member
accounts, and the individual members allocate contributions and account balances among various
approved investment choices. Costs of administering plan, including the FRS Financial Guidance
Program, are funded through an employer contribution of 0.06 percent of payroll and by forfeited
benefits of plan members.
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. Non -vested 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 June 30, 2022, 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 Sheriff.
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.
30
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
8. Pension Plans (continued)
Contributions
Participating employer contributions are based upon statewide rates established by the State of
Florida. The Sheriff's contributions made to the plans during the years ended September 30, 2022,
2021, and 2020 were $24,143,503, $20,409,973, and $19,677,937, respectively, equal to the
actuarially determined contribution requirements for each year.
Additional information about pension plans can be found in the County's annual comprehensive
financial report.
9.Other Postemployment Benefits
The Sheriff follows the provisions of GASB Statement No. 75 Accounting and Financial
Reporting for Postemployment Benefits Other Than Pensions, for its other postemployment
benefits (OPEB). The liability, expense, deferred outflows of resources and deferred inflows of
resources for OPEB, calculated in accordance with GASB Statement No. 75, are reported in the
financial statements of the County.
Plan Description
The Sheriff administers a single -employer defined benefit plan (OPEB Plan) and can amend the
benefit provisions. Prior to 2010, the Sheriff offered an OPEB Plan that subsidized the cost of
health care for retirees who have six years of creditable service with the Sheriff and who receive a
monthly retirement benefit from the Florida Retirement System. The Sheriff subsidizes
approximately 26% for both single coverage and family coverage for qualifying individuals. In
2010, the subsidy was no longer made available to eligible retirees who chose to continue their
health insurance coverage. Approximately 22% of retirees receive the subsidy. Additionally, in
accordance with Florida Statute 112.0801, Sheriff's employees who retire and immediately begin
receiving benefits from the FRS have the option of paying premiums to continue in the Sheriff's
health insurance plan at the same group rate as for active employees.
Participant Data
At September 30, 2022, the Sheriff's plan participation consisted of:
Active employees 1,156
Inactive employees or beneficiaries currently receiving benefit payments 150
31
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
9. Other Postemployment Benefits (continued)
Funding Policy
The Sheriff has the authority to establish and amend funding policy. The OPEB Plan is currently
being funded on a pay -as -you go basis. No trust fund has been established for the plan.
Total OPEB Liability
The Sheriff's OPEB liability of $33,128,024 was measured as of September 30, 2022, and was
determined by an actuarial valuation as of October 1, 2021. The following table shows the changes
in the Sheriff's total OPEB liability for the year ended September 30, 2022.
Total OPEB
Liability
Balance, as of October 1, 2021 $ 28,169,914
Changes:
Service cost 734,513
Interest 422,604
Differences between expected and actual experience 10,708,734
Changes in assumptions or other inputs (5,446,075)
Benefit payments (1,461,666)
Net changes 4,958,110
Balance, as of September 30, 2022 $ 33,128,024
The following presents the total OPEB liability of the Sheriff, as well as what the Sheriff's total
OPEB liability would be if it were calculated using a discount rate one percentage point lower or
one percentage point higher than the current discount rate:
1% Decrease Discount Rate 1% Increase
(2.3%) (3.3%) (4.3%)
Total OPEB Liability $ 35,957,136 $ 33,128,024 $ 30,635,138
32
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
9. Other Postemployment Benefits (continued)
The following presents the total OPEB liability of the Sheriff, as well as what the Sheriff's total
OPEB liability would be if it were calculated using healthcare cost trend rates that are 1 % point
lower (4% decreasing to 3%) or 1 % point higher (6% decreasing to 5%) than the current healthcare
cost trend rates:
Healthcare rate sensitivity
1% Decrease Healthcare Cost 1% Increase
Trend Rates
(4%) (5%) (6%)
Total OPEB Liability $ 30,546,087 $ 33,128,024 $ 36,080,227
Deferred Outflows and Inflows of Resources Related to OPEB
For the year ended September 30, 2022, the Sheriff's OPEB expense was $2,557,152. In addition
the Sheriff reported deferred outflow of resources and deferred inflow of resources from the
following sources:
Description
Differences between expected and actual experience
Changes in assumptions
Total
Deferred
Deferred
Outflows of
Inflows of
Resources
Resources
$ 15,409,795
2,282,175
$ 17,691,970
$ 26,809
5,843,531
$ 5,870,340
Amounts reported as deferred inflows of resources and deferred outflows of resources as an
increase/decrease to OPEB expense will be recognized as follows:
Net Deferred
Outflows
Year beginning October 1
of Resources
2022
$ 2,168,307
2023
2,168,307
2024
2,175,577
2025
2,046,602
2026
1,730,488
Thereafter
1,532,349
33
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
9. Other Postemployment Benefits (continued)
Actuarial Methods and Assumptions
Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and
assumptions about the probability of occurrence of events far into the future. Examples include
assumptions about future employment, mortality, and the healthcare cost trend. Amounts
determined regarding the funded status of the plan and the annual required contributions of the
employer are subject to continual revision as actual results are compared with past expectations
and new estimates are made about the future.
Calculations for financial reporting purposes are based on the benefits provided under terms of the
plan as understood by the employer and the plan members in effect at the time of each valuation
and on the pattern of sharing of costs between the employer and plan members to that point. The
projection of benefits for financial reporting purposes does not explicitly incorporate the potential
effects of legal or contractual funding limitations on the pattern of cost sharing between the
employer and plan members in the future. Actuarial calculations reflect a long-term perspective.
Consistent with that perspective, actuarial 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.
The actuarial methods are:
Actuarial cost method
The actuarial assumptions are:
Discount rate
Healthcare cost trend rate
Salary increase
New employees
Entry Age Actuarial
3.3% (Based on 20 year AA municipal bond rate)
5%
None
None
Mortality rates were based on the Pri-2012 Mortality Fully Generational tables using Projection
Scale MP-2021.
The following changes have been made since the prior year valuation:
• The discount rate was changed from 1.5% to 3.3%
• The mortality assumption has been updated from Pri-2012 Mortality Fully Generational
using Projection Scale MP-2020 to Pri-2012 Mortality Fully Generational using Projection
Scale MP-2021.
34
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
10. Self -Insurance Program
The Sheriff's Office participates in the Statewide Florida Sheriff's Self -Insurance Fund (the Fund)
for its professional liability insurance. The Fund is managed by representatives of the participating
Sheriff offices and provides professional liability insurance to participating agencies. The Fund
provides liability insurance coverage subject to the following limitations: $5,000,000 for any one
incident, and $10,000,000 for an annual aggregate. The Sheriff also participates in the Fund for
workers' compensation coverage. The Florida Sheriffs Workers' Compensation Self Insurance
Program is a self-insurance program providing coverage for the first $1,000,000 of every claim.
Reinsurance is purchased by the Program to cover claims exceeding $1,000,000 (or $500,000 or
$350,000 where applicable, based upon occurrence year of claim) up to $18,000,000. Reinsurance
coverage up to $20,000,000 for any one person on a catastrophic basis is available when applicable.
Settled claims have not exceeded the insurance provided by third -party carriers in any of the past
three years.
Premiums charged to participating Sheriffs are based upon amounts believed by the Fund
management to meet the estimated annual payout during the fiscal year and to pay for the estimated
operating costs of the program. All liabilities associated with these self -insured risks are reported
in the basic financial statements of the Fund.
The Sheriff has also established a self -funded employee health plan for active employees and
retirees. An internal service fund is used to account for the activities of the plan. Excess coverage
has been purchased which provides specific claim excess coverage for any one incident exceeding
$200,000. In FY22 there was one covered individual who had a higher deductible amount because
of a history of high claims. This individual had a deductible of $700,000. Specific claim excess
coverage for this individual is for claims exceeding $700,000. The maximum annual individual
stop loss payment amount is unlimited. Payments to the internal service fund are based on actuarial
estimates of amounts needed to pay prior year and current year claims including claims incurred
but not yet reported.
The Sheriff's Office uses a Third -Party Administrator (TPA) to administer and pay claims for the
health plan. Meritain Health, Inc. has been the TPA since July 1, 2013.
Changes in the balance of estimated insurance claims payable for the fiscal year ended
September 30, 2022 and 2021 are as follows:
New Claims
Balance
and Changes
Claim
Balance
Fiscal year ending: October 1
in Estimates
Payments
September 30
2021 $2,901,000
$30,590,007
($30,255,007)
$3,236,000
2022 $3,236,000
$29,060,254
($28,831,254)
$3,465,000
35
Collier County, Florida
Sheriff
Notes to Financial Statements
September 30, 2022
11. Commitments and Contingencies
Litigation
The Sheriff is involved in various claims and legal actions arising in the ordinary course of
operations. In the opinion of management, the ultimate disposition of these matters will not have
a material adverse effect on the Sheriff.
Federal and State Grants
Grant funds received by the Sheriff are subject to audit by grantor agencies. Audits of these grants
may result in disallowed costs, which may constitute a liability of the Sheriff. In the opinion of
management, disallowed costs, if any, would be immaterial to the financial position of the Sheriff.
Purchase Commitment
On July 19, 2022, the Sheriff signed a Letter of Intent with Amzim Marine Services, LLC to
purchase 2 boat motors totaling $47,952 obligating the Sheriff to purchase these boat motors.
Delivery of these motors is scheduled for after January 1, 2023. Payment is to be made within
30 days of delivery.
36
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Clifton LarsonAllen LLP
. CLAconnect.com
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER
FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Kevin Rambosk
Sheriff
Collier County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards issued by the Comptroller General of the United States, the financial
statements of each major fund and the aggregate remaining fund information of the Collier
County, Florida, Sheriff (Sheriff), as of and for the year ended September 30, 2022, and the
related notes to the financial statements, which collectively comprise the Sheriff's basic financial
statements, and have issued our report thereon dated March 7, 2023.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Sheriff'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 opinions on the
financial statements, but not for the purpose of expressing an opinion on the effectiveness of the
Sheriff's internal control. Accordingly, we do not express an opinion on the effectiveness of the
Sheriff's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to
prevent, or detect and correct, misstatements on a timely basis. A material weakness is a
deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable
possibility that a material misstatement of the entity's financial statements will not be prevented,
or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be
material weaknesses or significant deficiencies and therefore, material weaknesses or significant
deficiencies may exist that were not identified. We identified certain deficiencies in internal control,
described in the accompanying schedule of findings and responses as item 2022-001 that we
consider to be a material weakness.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. Sec CLAglobal.com/disclaimer
40
Honorable Kevin Rambosk
Sheriff
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Sheriff'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 or other matters that
are required to be reported under Government Auditing Standards.
Sheriff's Response to Findings
Government Auditing Standards requires the auditor to perform limited procedures on the Sheriff's
response to the findings identified in our audit and described in the accompanying schedule of
findings and responses. The Sheriff's response was not subjected to the other auditing
procedures applied in the audit of the financial statements and, accordingly, we express no
opinion on the response.
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 entity's internal control or on compliance. This report is an integral part of an audit performed
in accordance with Government Auditing Standards in considering the entity's internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
G;�a-��c,� LLB
Clifton LarsonAllen LLP
Naples, Florida
March 7, 2023
41
COLLIER COUNTY, FLORIDA
SHERIFF
SCHEDULE OF FINDINGS AND RESPONSES
SEPTEMBER 30, 2022
2022-001: Audit Adjustment
Type of Findings: Material weakness over financial reporting
Criteria or specific requirement: The Committee of Sponsoring Organizations of the Treadway
Commission (COSO) Internal Control Framework states that control activities are a component
of internal control. Control activities are policies and procedures established to ensure that
management directives are carried out, and consist of two elements, a policy that establishes
what should be done and the procedure that implements the policy. COSO Framework states that
control activities must be in place for there to be adequate internal control procedures over
financial reporting. Internal control procedures affect the Sheriff's ability to ensure financial
transactions are authorized and accurate. The Sheriff's management is responsible for
establishing and maintaining internal controls for the proper recording of all the Sheriff's
transactions in the financial statements and ensuring all transactions are recorded in the correct
period.
Condition: An audit adjustment was proposed to correct the Sheriff's financial statements at year-
end related to prepaid expenditures for multi -year services that were improperly expensed in the
2022 financial statements in the amount of $1,138,685. An audit adjustment was made by
management to correct the financial statements.
Effect: The Sheriff's financial records were misstated and we proposed adjusting entries to
management to correct the financial statements. The proposed audit adjustments were recorded
by management to correct the financial statements.
Cause: The Sheriff's internal controls over financial reporting did not detect or prevent the errors.
Repeat finding: No.
Recommendation: We recommend that management enhance its review over the financial
statements and supporting schedules to ensure the information is accurately presented.
Views of responsible officials and planned corrective actions: Management is in agreement
with the audit finding. Management has evaluated the financial statement process review and
supporting schedules and has put in place additional controls to ensure accuracy moving forward.
Finance staff have been trained on the appropriate treatment of multi -year contracts that include
prepayments. Prepayments will be recorded in the appropriate prepaid balance sheet object code
and amortized accordingly. Requisitions for prepayments will be coded directly to the prepaid
object code by the Budget staff. Multiyear contracts and purchase orders with prepayments will
be tracked on an Excel spreadsheet by the GL Accountant who will calculate the appropriate
monthly amortization and record a journal entry. The GL Accountant will reconcile the prepaid
and amortization account monthly. The requisitions, reconciliations and journal entries will be
reviewed and approved by the General Accounting Manager.
42
OPF
Honorable Kevin Rambosk
Sheriff
Collier County, Florida
Clifton LarsonAllen LLP
CLAconnect.com
MANAGEMENT LETTER
Report on the Financial Statements
We have audited the financial statements of the Collier County, Florida, Sheriff (Sheriff), as of and
for the fiscal year ended September 30, 2022, and have issued our report thereon dated March 7,
2023.
Auditors' Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United
States of America, the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules
of the Auditor General.
Other Reporting Requirements
We have issued our Independent Auditors' Report on Internal Control over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards; and our Independent Accountants' Report on
an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315,
regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor
General. Disclosures in those reports, which are dated March 7, 2023, should be considered in
conjunction with this management letter.
Prior Audit Findings
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. There were no findings or recommendations made in the
preceding annual financial audit report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and
legal authority for the primary government and each component unit of the reporting entity be
disclosed in this management letter, unless disclosed in the notes to the financial statements. See
Note 1 in the notes to the financial statements.
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43
Honorable Kevin Rambosk
Sheriff
Financial Management
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any
recommendations to improve financial management. In connection with our audit, we did not have
any such recommendations.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance
with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to
have occurred, that have an effect on the financial statements that is less than material, but which
warrants the attention of those charged with governance. In connection with our audit, we did not
note any such findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the Florida
Auditor General, Federal and other granting agencies, and the Sheriff and applicable
management, and is not intended to be, and should not be, used by anyone other than these
specified parties.
CliftonLarsonAllen LLP
Naples, Florida
March 7, 2023
CliftonLarsonAllen LLP
PAW
CLAconnect.com
INDEPENDENT ACCOUNTANTS' REPORT
Honorable Kevin Rambosk
Sheriff
Collier County, Florida
We have examined the Collier County, Florida, Sheriff (Sheriff)'s compliance with Section
218.415, Florida Statutes, regarding the investment of public funds during the year ended
September 30, 2022. Management of the Sheriff is responsible for the Sheriff's compliance with
the specified requirements. Our responsibility is to express an opinion on Sheriff's compliance
with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the
American Institute of Certified Public Accountants. Those standards require that we plan and
perform the examination to obtain reasonable assurance about whether the Sheriff complied, in
all material respects, with the specified requirements referenced above. An examination involves
performing procedures to obtain evidence about whether the Sheriff complied with the specified
requirements. The nature, timing, and extent of the procedures selected depend on ourjudgment,
including an assessment of the risks of material noncompliance, whether due to fraud or error.
We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable
basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance
with relevant ethical requirements relating to the engagement.
Our examination does not provide a legal determination on the Sheriff's compliance with specified
requirements.
In our opinion, the Sheriff complied, in all material respects, with Section 218.415, Florida
Statutes, regarding the investment of public funds during the year ended September 30, 2022.
This report is intended solely for the information and use of the Sheriff 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.
LL.�
CliftonLarsonAllen LLP
Naples, Florida
March 7, 2023
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. Sec CLAglobal.com/disclaimer
45
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
Collier County, Florida
Supervisor of Elections
Financial Statements and
Supplemental Reports
Year Ended September 30, 2022
CPAs I CONSULTANTS I WEALTH ADVISORS
C LAconnect.com
Collier County, Florida
Supervisor of Elections
Financial Statements and Other Reports
Year Ended September 30, 2022
Contents
IndependentAuditors' Report..........................................................................................................1
Financial Statements
Balance Sheet — Governmental Funds.............................................................................................4
Statement of Revenues, Expenditures, and Changes in Fund Balances —
GovernmentalFunds.....................................................................................................................5
Statement of Revenues, Expenditures, and Changes in Fund Balances — Budget and
Actual— General Fund..................................................................................................................6
Notes to Financial Statements..........................................................................................................7
Other Reports
Independent Auditors' Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance With Government Auditing Standards..............................................21
ManagementLetter........................................................................................................................23
Independent Accountants' Report..................................................................................................25
op,
Honorable Jennifer J. Edwards
Supervisor of Elections
Collier County, Florida
Clifton LarsonAllen LLP
CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of each major fund of the Collier County,
Florida, Supervisor of Elections (Supervisor), as of and for the year ended September 30, 2022, and
the related notes to the financial statements, which collectively comprise the Supervisor's basic
financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of each major fund of the Supervisor as of September 30, 2022, and the respective
changes in financial position and budgetary comparison for the general fund for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Auditors' Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of the Supervisor and to meet our
other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Emphasis of Matter
As discussed in Note 1, the financial statements of the Supervisor referred to above were prepared
solely for the purpose of complying with the Rules of the Auditor General of the State of Florida. In
conformity with the Rules, the financial statements are intended to present the financial position and
changes in financial position of each major fund of Collier County, Florida that is attributable to the
transactions of the Supervisor. They do not purport to, and do not, present fairly the financial position of
Collier County, Florida as of September 30, 2022, and the changes in its financial position for the fiscal
year then ended in conformity with accounting principles generally accepted in the United States of
America. Our opinions are not modified with respect to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer
Honorable Jennifer J. Edwards
Supervisor of Elections
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Governmental
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Governmental Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due
to fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Supervisor's internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control related
matters that we identified during the audit.
Required Supplementary Information
Management has omitted management's discussion and analysis that accounting principles generally
accepted in the United States of America require to be presented to supplement the basic financial
statements. Such missing information, although not a part of the basic financial statements, is required
by the Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. Our opinions on the basic financial statements is not affected by this missing information.
2
Honorable Jennifer J. Edwards
Supervisor of Elections
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued a report dated
January 16, 2023 on our consideration of the Supervisor's internal control over financial reporting and
on our tests of its compliance with certain provisions of laws, regulations, contracts and grant
agreements, and other matters. The purpose of that report is solely to describe the scope of our testing
of internal control over financial reporting and compliance and the results of that testing, and not to
provide an opinion on the effectiveness of the Supervisor's internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards in considering the Supervisor's internal control over financial reporting and
compliance.
Clifton LarsonAllen LLP
Naples, Florida
January 16, 2023
3
Collier County, Florida
Supervisor of Elections
Balance Sheet — Governmental Funds
September 30, 2022
Grant
Special
General
Revenue
Total
Assets
Cash and cash equivalents
$
153,795
$ -
$
153,795
Accounts receivable
152
-
152
Total assets
$
153,947
$ -
$
153,947
Liabilities and fund balance
Liabilities:
Accounts payable
$
27,502
$ -
$
27,502
Accrued liabilities
80,765
-
80,765
Due to Collier County, Florida
Board of County Commissioners
45,680
-
45,680
Total liabilities
153,947
-
153,947
Fund balances:
Restricted
-
-
-
Total fund balances
-
-
-
Total liabilities and fund balances
$
153,947
$ -
$
153,947
See accompanying Notes to Financial Statements
91
Collier County, Florida
Supervisor of Elections
Statement of Revenues, Expenditures, and
Changes in Fund Balances — Governmental Funds
Year Ended September 30, 2022
Revenues:
Intergovernmental
Total revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Debt service principal
Debt service interest
Total expenditures
Excess (deficiency) of expenditures over
revenues
Other financing sources (uses):
Proceeds from right to use leases
Transfers in:
Collier County, Florida Board of
County Commissioners appropriations
Transfers out:
Distribution of excess appropriations:
Collier County, Florida Board of
County Commissioners
Total other financing sources (uses)
Net change in fund balances
Fund balances — beginning of the year
Fund balances — end of the year
See accompanying Notes to Financial Statements
Grant
Special
General Revenue Total
$ - $ 32,752 $ 32,752
- 32,752 32,752
2,617,041 - 2,617,041
1,653,493 32,752 1,686,245
572 - 572
6,938 - 6,938
296 - 296
4,278,340 32,752 4,311,092
(4,278,340) - (4,278,340)
572 - 572
4,307,100 - 4,307,100
(29,332) - (29,332)
4,278,340 - 4,278,340
5
Collier County, Florida
Supervisor of Elections
Statement of Revenues, Expenditures, and
Changes in Fund Balances — Budget and Actual
General Fund
Year Ended September 30, 2022
Revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Debt Service Principal
Debt Service Interest
Total expenditures
Deficiency of expenditures over revenues
Other financing sources (uses):
Proceeds from right to use leases
Transfers in:
Collier County, Florida Board of
County Commissioners appropriations
Transfers out:
Distribution of excess appropriations:
Collier County, Florida Board of
County Commissioners
Total other financing sources
Net change in fund balance
Fund balance — beginning of the year
Fund balance — end of the year
See accompanying Notes to Financial Statements
Budget
Original Final Actual
Variance
With Final
Budget
Positive
(Negative)
2,564,800
2,634,800 2,617,041
17,759
1,707,300
1,672,300 1,653,493
18,807
35,000
- 572
(572)
-
- 6,938
(6,938)
-
- 296
(296)
4,307,100
4,307,100 4,278,340
28,760
4,307,100) (4,307,100) (4,278,340) 28,760
- 572 572
4,307,100 4,307,100 4,307,100 -
- - (29,332) (29,332)
4,307,100 4,307,100 4,278,340 (28,760)
0
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida, Supervisor of Elections (Supervisor) is an elected constitutional
officer as provided for by the Constitution of the State of Florida. Pursuant to Chapter 129,
Florida Statutes, the Supervisor of Elections' budget is submitted to the Collier County, Florida,
Board of County Commissioners (Board) for approval.
The financial statements presented include the general fund and grant special revenue fund of the
Supervisor's office. The accompanying financial statements have been prepared for the purpose
of complying with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor
General — Local Governmental Entity Audits, which allows the Supervisor to only present fund
financial statements. These financial statements present only the portion of the funds of Collier
County, Florida that are attributable to the Supervisor. They are not intended to present fairly the
financial position and results of operations of Collier County, Florida in conformity with
accounting principles generally accepted in the United States of America.
The financial activities of the Supervisor, as a constitutional officer, are included in the Collier
County, Florida, Annual Comprehensive Financial Report. There are no separate legal entities
(component units) for which the Supervisor is considered to be financially accountable.
The general operations of the Supervisor are funded by appropriations from the Collier County,
Florida, Board of County Commissioners (BOCC), and grant revenue is funded from the State of
Florida. Pursuant to Chapter 218, Florida Statutes, funds remaining in the general fund at fiscal
year-end, in excess of amounts expended, are returned to the Board. Excess revenues returned to
the Board are reflected as transfers out in the Supervisor's general fund. The special revenue
fund of the Supervisor is not budgeted and governed by grant agreements.
As a result of the budgetary oversight by the Board and financial dependency on the Board, the
financial activities of the Supervisor are included in the Collier County, Florida, Annual
Comprehensive Financial Report.
Measurement Focus, Basis of Accounting, and Basis of Presentation
These fund financial statements report detailed information about the Supervisor. The focus of
governmental fund financial statements is on major funds rather than reporting funds by type.
Each major fund is reported in a separate column.
7
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds
Governmental funds are accounted for using the flow of current financial resources measurement
focus. Only current assets and current liabilities, generally, are included on the balance sheet.
Operating statements for these funds present increases (i.e., revenues and other financing
sources) and decreases (i.e., expenditures and other financing uses) in net current assets.
The Supervisor has the following major governmental funds:
General Fund — The general fund is used to account for the general operations of the Supervisor
and includes all revenues and expenditures which are not accounted for in another fund.
Grant Special Revenue Fund — The grants fund is used to account for the activities of voter
education and poll worker training grants from the State of Florida.
The modified accrual basis of accounting is used by governmental funds. Under the modified
accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they
become measurable and available to finance liabilities of the current fiscal year). For this
purpose, the Supervisor considers revenues to be available if they are collected within 60 days
after year-end. Expenditures are recorded when the related fund liability is incurred, except for
compensated absences, which are recognized as expenditures to the extent they have matured.
The appropriations from the Board are the primary source of funds considered to be susceptible
to accrual.
Intergovernmental revenues are recognized when eligibility requirements are met and related
amounts are available from the grantor.
Interest income and other revenues are recognized as they are earned and become measurable
and available to pay liabilities of the current period.
Florida Statutes provide that the amount by which revenues and transfers exceed annual
expenditures be remitted to the Board immediately following the fiscal year for which the
funding was provided or following the fiscal year during which other revenue was recognized.
The amount of this distribution is recorded as a liability and as an other financing use in the
accompanying financial statements.
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds (continued)
Capital outlays expended in general fund operations are capitalized in the basic financial
statements of Collier County, Florida rather than in the governmental funds of the Supervisor.
Cash Equivalents
Cash equivalents are defined as highly liquid investments with original maturities of three
months or less.
Compensated Absences
All full-time employees of the Supervisor are allowed to accumulate an unlimited number of
hours of unused sick time and up to 440 hours of unused vacation leave. Effective October 1,
2007, the vacation leave limit was increased to 480 hours, with Supervisor approval. Upon
termination, employees receive 100% of allowable accumulated vacation hours and a percentage
of unused sick leave, depending on years of service. Vacation time and sick leave are included in
operating costs of the general fund when the payments are made to employees. The Supervisor
does not, nor is legally required to accumulate financial resources for these unrnatured
obligations. Accordingly, the liability for compensated absences is not reported in the general
fund of the Supervisor, but rather is reported in the basic financial statements of Collier County,
Florida.
Use of Estimates
The preparation of the financial statements requires management of the Supervisor to make a
number of estimates and assumptions relating to the reported amounts of assets and liabilities
and the disclosure of contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenditures during the period. Actual results could differ
from those estimates.
Fund Balance Reporting and Governmental Fund -Type Definitions
Fund balances are classified either as non -spendable or as spendable. Spendable fund balances
are further classified in a hierarchy based on the extent to which there are external and/or internal
constraints in how fund balance amounts may be spent.
E
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Fund Balance Reporting and Governmental Fund -Type Definitions (continued)
Non -spendable fund balances include amounts that cannot be spent because they are not in
spendable form or are legally or contractually required to be maintained intact. The Supervisor
did not have any non -spendable fund balances as of September 30, 2022.
Spendable fund balances are classified based on a hierarchy of the Supervisor's ability to control
the spending of these fund balances and are reported in the following categories: restricted,
committed, assigned and unassigned. The Supervisor's fund balances for the Grant Special
Revenue Fund fall into the spendable restricted category. Fund balances maintained in the Grant
Special Revenue Fund are restricted pursuant to specific grant agreements and have been
presented in the fund financial statements in accordance with GASB Statement No. 54.
2. Budgetary Process
Florida Statutes govern the preparation, adoption and administration of the Supervisor's annual
budget. The Supervisor submits a budget for the general fund to the Board for approval. The
budget is prepared on a basis consistent with accounting principles generally accepted in the
United States of America. The annual budget serves as the legal authorization for expenditures.
Any subsequent amendments to the Supervisor's total budget must be approved by the Board.
Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at
year-end. Budgetary control is maintained at the departmental major object expenditure
level. Budgetary changes within major object expenditure categories are made at the discretion
of the Supervisor.
The Supervisor does not budget for the grant special revenue fund as it is funded by state grants
and is governed by those documents.
The original budget is the first complete appropriated budget. The final budget is the original
budget adjusted by all reserves, transfers, allocations, supplemental appropriations, and other
legally authorized changes applicable to the fiscal year, whenever legally authorized.
10
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
3. Cash and Cash Equivalents
At September 30, 2022, the carrying value of the Supervisor's cash and cash equivalents was as
follows:
Carrying Credit
Type Value Rating
Cash on hand
Demand deposits
Total cash and cash equivalents
Custodial Credit Risk
$ 200 N/A
153,595 N/A
$ 153,795
At September 30, 2022, the Supervisor's deposits were entirely covered by Federal Depository
Insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida
Statutes. Under this Chapter, in the event of default by a participating financial institution (a
qualified public depository), all participating institutions are obligated to reimburse the
governmental entity for the loss.
Credit Risk
The Supervisor's policy is to follow the guidance in Section 219.075, Florida Statutes, regarding
the deposit of funds received and the investment of surplus funds. Sections 219.075 and 218.415,
Florida Statutes, authorize the Supervisor to invest in Florida PRIME (formerly the Local
Government Surplus Funds Trust Fund) or any intergovernmental investment pool authorized
pursuant to the Florida Interlocal Cooperation Act; Securities and Exchange Commission
registered money market funds with the highest credit quality rating from a nationally recognized
rating agency; direct obligations of the United States Treasury; federal agencies and
instrumentalities or interest -bearing time deposits or savings accounts in banks organized under
the laws of the United States and doing business and situated in the State of Florida, savings and
loan associations which are under state supervision, or in federal savings and loan associations
located in the State of Florida and organized under federal law and federal supervision, provided
that any such deposits are secured by collateral as may be prescribed by law. The pool is
administered by the State Treasurer, who may make additional assessments to ensure that no
public funds will be lost.
11
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
3. Cash and Cash Equivalents (continued)
Interest Rate Risk
The Supervisor has no specific investment policy regarding interest rate risk.
4. Capital Assets
Capital assets used by the Supervisor are capitalized in the basic financial statements of Collier
County, Florida rather than in the governmental funds of the Supervisor. Upon acquisition, such
assets are recorded as expenditures in the governmental funds of the Supervisor and are
capitalized at cost in the basic financial statements of Collier County, Florida. Capital assets are
valued at historical cost or estimated historical cost if actual historical cost is not available.
Donated capital assets are valued at acquisition value on the date received.
The Supervisor maintains custodial responsibility for the capital assets used by the office. No
depreciation expense has been provided on capital assets in these financial statements. However,
depreciation expense is recorded in the basic financial statements of Collier County, Florida.
The following is a summary of changes in capital assets, which are reported in the basic financial
statements of Collier County, Florida:
October 1, September 30,
2021 Additions Deductions 2022
Machinery and equipment $ 1,047,441 $ - $ (21,000) $ 1,026,441
Right -to -use leased equipment t 36,161 572 - 36,733
Total capital assets 1,083,602 572 (21,000) 1,063,174
Less accumulated depreciation:
Machinery and equipment
(725,658)
(116,538)
21,000 (821,196)
Right -to -use leased equipment 1
(4,862)
(7,026)
- (11,888)
Total accumulated depreciation
(730,520)
(123,564)
21,000 (833,084)
Total capital assets, net $
353,082 $
(122,992) $
- $ 230,090
1 The Supervisor implemented GASB Statement No. 87 Leases in 2020. Right -to -use leased assets
related to leases under GASB
Statement No. 87 were added to the Supervisor's financial statement disclosure in 2022.
12
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
5. Long -Term Liabilities
The following is a summary of changes in long-term liabilities, which are reported in the basic
financial statements of Collier County, Florida:
October 1, September 30,
2021 Additions Deductions 2022
Accrued Compensated
Absences $ 219,439 $ 206,051 $ (153,813) $ 271,677
Of these liabilities, approximately $154,856 is expected to be paid during the fiscal year
ending September 30, 2023, which will be included in the operating costs of the general
fund when expended. These long-term liabilities are not reported in the financial statements
of the Supervisor since they have not matured.
6. Pension Plans
Background
The Florida Retirement System (FRS) was created by Chapter 121, Florida Statutes, to provide a
defined benefit pension plan for participating public employees. The FRS was amended in 1998
to add the Deferred Retirement Option Program under the defined benefit plan and amended in
2000 to provide a 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 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.
13
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Background (continued)
Essentially all regular employees of the Supervisor are eligible to enroll as members of the State -
administered FRS. 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 FRS
Rules, Chapter 605, 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 the two
cost -sharing, multiple -employer defined benefit plans and other nonintegrated programs. An
annual comprehensive financial report of the FRS, which includes its financial statements,
required supplementary information, actuarial report, and other relevant information, is available
from the Florida Department of Management Services' Web site (www.dms.myflorida.com).
Florida Retirement System Pension Plan
Plan Description
The Florida Retirement System Pension Plan (FRS 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.
Elected County Officers Class — Members who hold specified elective offices in local
government.
Senior Management Service Class (SMSQ — Members in senior management level positions.
Special Risk Class — Members who are special risk employees, such as law enforcement officers,
meet the criteria to qualify for this class.
14
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Florida Retirement System Pension Plan (continued)
Plan Description (continued)
Employees enrolled in the FRS Plan prior to July 1, 2011, vest at 6 years of creditable service
and employees enrolled in the FRS Plan on or after July 1, 2011, vest at 8 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 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 FRS 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. Employees enrolled in the FRS Plan may include
up to 4 years of credit for military service toward creditable service. The FRS 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 FRS Plan provides retirement, disability,
death benefits, and annual cost -of -living adjustments to eligible participants.
DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for
normal retirement under the FRS Plan to defer receipt of monthly benefit payments while
continuing employment with an FRS participating employer. An employee may participate in
DROP for a period not to exceed 60 months after electing to participate, except that certain
instructional personnel may participate for up to 96 months. 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 under the FRS Plan are computed on the basis of age and/or years of service, average
final compensation, and service credit. 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 5 highest fiscal years' earnings; for
members initially enrolled on or after July 1, 2011, the average final compensation is the average
of the 8 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 the retirement 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.
15
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Florida Retirement System Pension Plan (continued)
Benefits Provided
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. FRS Plan members initially enrolled on or after July 1, 2011, will not
have a cost -of -living adjustment after retirement.
Detailed information about the County's proportionate share of FRS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -
wide statements of the County.
Retiree Health Insurance Subsidy Program
Plan Description
The Retiree Health Insurance Subsidy Program (HIS Plan) is a cost -sharing multiple -employer
defined benefit pension plan established under Section 112.363, Florida Statutes, and may be
amended by the Florida Legislature at any time. 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 Florida Department of Management Services, Division of Retirement.
For the fiscal year ended June 30, 2022, eligible retirees and beneficiaries received a monthly
HIS payment of $5 for each year of creditable service completed at the time of retirement, with a
minimum HIS payment of $30 and a maximum HIS payment of $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
may include Medicare.
16
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Retiree Health Insurance Subsidy Program (continued)
Benefits Provided
Detailed information about the County's proportionate share of HIS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -
wide statements of the County.
FRS Investment Plan
The Florida State Board of Administration (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 Annual Comprehensive
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. Supervisor 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 are
directed to individual member accounts, and the individual members allocate contributions and
account balances among various approved investment choices. Costs of administering the plan,
including the FRS Financial Guidance Program, are funded through an employer contribution of
0.06 percent of payroll and by forfeited benefits of plan members.
17
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
FRS Investment Plan (continued)
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. Non -vested 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 June 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 Supervisor.
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.
Contributions
Participating employer contributions are based upon statewide rates established by the State of
Florida. The Supervisor's contributions made to the plans during the years ended September 30,
2022, 2021, and 2020, were $220,264, $181,001, and $154,299 respectively, equal to the
actuarially determined contribution requirements for each year.
Additional information about pension plans can be found in the County's Annual Comprehensive
Financial Report.
IN
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
7. Related -Party Transactions
For the year ended September 30, 2022, the Board provided funding for the Supervisor that
amounted to $4,307,100. At September 30, 2022, the Supervisor had a payable due to the Board
of $45,680 comprised as follows:
Distribution of excess appropriations $ 29,332
Distribution of interest earnings 7,248
Amounts due for various services 9,100
Total due to Board of County Commissioners $ 45,680
8. Risk Management
Collier County, Florida (County) is exposed to various risks of loss including, but not limited to,
general liability, health and life, property and casualty, auto and physical damage and workers'
compensation. The County is substantially self -insured and accounts for and finances its risk of
uninsured losses through an internal service fund. All liabilities associated with these self -
insured risks are reported in the basic financial statements of the County. The Supervisor
participates in the County's self-insurance program. During the year ended September 30, 2022,
the Supervisor was charged $368,330 by the County for participation in the risk management
program.
The County retains the first $500,000 per claim for workers' compensation and has purchased
excess coverage for up to statutory limit for each injury or illness. The County also
provides coverage for up to $500,000 per occurrence for general liability and $300,000 per
occurrence for auto liability coverage and has purchased outside excess coverage for up to $5
million per claim. Negligence claims in excess of the statutory limits set in Section 768.28,
Florida Statutes, which provide for limited sovereign immunity of $200,000/$300,000 per
occurrence can only be recovered through an act of the State Legislature. Property claims
are subject to a 3 percent wind deductible and a $50,000 deductible for all other perils. The
County retains the first $300,000 per claim for general liability, public official errors and
omissions, automobile liability, and crime coverage and has purchased excess coverage for up
to $5 million per claim. There have been no significant reductions in insurance coverage in the
last year. Settled claims have not exceeded the insurance provided by third -parry carriers in any
of the last three years.
19
Collier County, Florida
Supervisor of Elections
Notes to Financial Statements
September 30, 2022
8. Risk Management (continued)
The County is self -insured for health claims covering all of its employees and their eligible
dependents. The County retains the first $1,000,000 per covered member and has purchased
outside excess coverage for all claims exceeding this amount. An actuarial valuation is
performed each year to estimate the amounts needed to pay prior and future claims and to
establish reserves.
9. Other Postemployment Benefits
In accordance with Section 112.0801, Florida Statutes, the Supervisor participates with Collier
County in offering retiring employees the opportunity to continue participation in the County's
health insurance plan. The participating retirees pay 100% of the premium cost applicable to an
active employee. The liability and expense for other postemployment benefits, calculated in
accordance with Governmental Accounting Standards Board Statement No. 75 Accounting and
Financial Reporting for Postemployment Benefits Other Than Pensions, are reported in the
financial statements of the County.
10. Contingencies
Grant funds received by the Supervisor are subject to audit by grantor agencies. Audits of these
grants may result in disallowed costs, which may constitute a liability of the office of the
Supervisor. In the opinion of management, disallowed costs, if any, would not have a significant
impact on the financial position of the Supervisor.
11. Transfers
Transfers between funds are for the purpose of providing matching funds to the Supervisor's
grants. Transfers were not required for the year ending September 30, 2022.
20
Clifton LarsonAllen LLP
OAF
CLAconnect.com
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER
FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS
BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Jennifer J. Edwards
Supervisor of Elections
Collier County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of each major fund of
Collier County, Florida, Supervisor of Elections (Supervisor) as of and for the year ended
September 30, 2022, and the related notes to the financial statements, which collectively comprise the
Supervisor's basic financial statements, and have issued our report thereon dated January 16, 2023.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Supervisor'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 opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the Supervisor's
internal control. Accordingly, we do not express an opinion on the effectiveness of the Supervisor's
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist that were not identified.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer
21
Honorable Jennifer J. Edwards
Supervisor of Elections
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Supervisor'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 or other matters that are required to be
reported under Government Auditing Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity's internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity's internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
Clifton LarsonAllen LLP
Naples, Florida
January 16, 2023
22
OPF
Honorable Jennifer J. Edwards
Supervisor of Elections
Collier County, Florida
Report on the Financial Statements
Clifton LarsonAllen LLP
CLAconnect.com
MANAGEMENT LETTER
We have audited the financial statements of the Collier County, Florida, Supervisor of Elections
(Supervisor) as of and for the fiscal year ended September 30, 2022 and have issued our report thereon
dated January 16, 2023.
Auditors' Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America; the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida
Auditor General.
Other Reporting Requirements
We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance
with Government Auditing Standards and Independent Accountants' Report on an examination
conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance
requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those
reports, which are dated January 16, 2023, should be considered in conjunction with this management
letter.
Prior Audit Findings
Section 10.554(1)(i)l ., Rules of the Auditor General, requires that we determine whether or not
corrective actions have been taken to address findings and recommendations made in the preceding
annual financial audit report. There were no findings and recommendations reported in the preceding
annual financial audit report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal
authority for the primary government and each component unit of the reporting entity be disclosed in
this management letter, unless disclosed in the notes to the financial statements. See Note 1 in the
notes to the financial statements.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer
23
Honorable Jennifer J. Edwards
Supervisor of Elections
Financial Management
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any
recommendations to improve financial management. In connection with our audit, we did not have any
such recommendations.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with
provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have
occurred, that have an effect on the financial statements that is less than material but which warrants
the attention of those charged with governance. In connection with our audit, we did not note any such
findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the Florida
Auditor General, Federal and other granting agencies, the Supervisor and applicable management, and
is not intended to be and should not be used by anyone other than these specified parties.
Clifton LarsonAllen LLP
Naples, Florida
January 16, 2023
24
CliftonLarsonAllen LLP
. CLAconnect.com
INDEPENDENT ACCOUNTANTS' REPORT
Honorable Jennifer J. Edwards
Supervisor of Elections
Collier County, Florida
We have examined Collier County, Florida, Supervisor of Elections' (Supervisor) compliance with
Section 218.415, Florida Statutes, regarding the investment of public funds, during the year ended
September 30, 2022. Management of the Supervisor is responsible for the Supervisor's compliance
with the specified requirements. Our responsibility is to express an opinion on the Supervisor's
compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the Supervisor complied, in all material
respects, with the specified requirements referenced above. An examination involves performing
procedures to obtain evidence about whether the Supervisor complied with the specified requirements.
The nature, timing, and extent of the procedures selected depend on our judgment, including an
assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the
evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
Our examination does not provide a legal determination on the Supervisor's compliance with specified
requirements.
In our opinion, the Supervisor complied, in all material respects, with Section 218.415, Florida Statutes,
regarding the investment of public funds, during the year ended September 30, 2022.
This report is intended solely for the information and use of the Supervisor 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.
Clifton LarsonAllen LLP
Naples, Florida
January 16, 2023
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer
25
11:IPyTe[HMION1:10IN1610MAN aIII anQW_101:/
Collier County, Florida
Tax Collector
Financial Statements and
Supplemental Reports
Year Ended September 30, 202'
CPAs I CONSULTANTS I WEALTH ADVISORS
C LAconnect.com
Collier County, Florida
Tax Collector
Financial Statements and Other Reports
Year Ended September 30, 2022
Contents
Independent Auditors' Report..........................................................................................................1
Financial Statements
Balance Sheet — General Fund......................................................................................................4
Statement of Revenues, Expenditures, and Changes in Fund
Balance— General Fund.............................................................................................................5
Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget to Actual — General Fund.............................................................................6
Statement of Fiduciary Net Position — Custodial Fund.................................................................7
Combining Statement of Changes in Fiduciary Net Position - Custodial Fund ...........................8
Notesto Financial Statements.......................................................................................................9
Other Reports
Independent Auditors' Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards..............................................26
ManagementLetter........................................................................................................................28
Independent Accountants' Report ..................................................................................................30
See accompanying Notes to Financial Statements.
2
OPF
Honorable Rob Stoneburner
Tax Collector
Collier County, Florida
Clifton LarsonAllen LLP
CLAconnect.com
INDEPENDENT AUDITORS' REPORT
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the general fund and the remaining fund
information of the Collier County, Florida, Tax Collector (Tax Collector), as of and for the year ended
September 30, 2022, and the related notes to the financial statements, which collectively comprise the
Tax Collector's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the general fund and the remaining fund information of the Tax Collector
as of September 30, 2022, and the respective changes in financial position and the budgetary comparison
for the general fund for the year ended September 30, 2022, in accordance with accounting principles
generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Our responsibilities under those
standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements
section of our report. We are required to be independent of the Tax Collector and to meet our other ethical
responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Emphasis of Matter
As discussed in Note 1, the financial statements of the Tax Collector referred to above were prepared
solely for the purpose of complying with the Rules of the Auditor General of the State of Florida. In
conformity with the Rules, the financial statements are intended to present the financial position and
changes in financial position of only that portion of the general fund and the remaining fund information
of Collier County, Florida that is attributable to the transactions of the Tax Collector. They do not purport
to, and do not, present fairly the financial position of Collier County, Florida as of September 30, 2022,
and the changes in its financial position for the year then ended in conformity with accounting principles
generally accepted in the United States of America. Our opinions are not modified with respect to this
matter.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer
Honorable Rob Stoneburner
Tax Collector
Responsibilities of Management 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.
Auditors' Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government
Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Tax Collector's internal control. Accordingly, no such opinion
is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control related
matters that we identified during the audit.
2
Honorable Rob Stoneburner
Tax Collector
Required Supplementary Information
Management has omitted management's discussion and analysis that accounting principles generally
accepted in the United States of America require to be presented to supplement the basic financial
statements. Such missing information, although not a part of the basic financial statements, is required
by the Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. Our opinion on the basic financial statements is not affected by this missing information.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated
January 14, 2023, on our consideration of the Collier County, Florida, Tax Collector's internal control over
financial reporting and on our tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements and other matters. The purpose of that report is solely to describe the
scope of our testing of internal control over financial reporting and compliance and the results of that
testing, and not to provide an opinion on the effectiveness of the Tax Collector's internal control over
financial reporting or on compliance. That report is an integral part of an audit performed in accordance
with Government Auditing Standards in considering the Tax Collector's internal control over financial
reporting and compliance.
LLB
CliftonLarsonAllen LLP
Naples, Florida
January 14, 2023
Collier County, Florida
Tax Collector
Balance Sheet — General Fund
Year Ended September 30, 2022
Assets
Cash and cash equivalents
Accounts receivable
Prepaid rent
Prepaid expense
Security deposit
Total assets
Liabilities and fund balance
Liabilities:
Accounts payable
Due to Collier County, Florida Board of
County Commissioners
Due to other governmental agencies
Other current liabilities
Total liabilities
Fund balance
Total liabilities and find balance
See accompanying Notes to Financial Statements.
$ 11,532,698
1,913
16,227
1,587
14,868
$ 11,567,293
$ 206,835
9,730,750
1,470,389
159,319
11,567,293
$ 11,567,293
4
Collier County, Florida
Tax Collector
Statement of Revenues, Expenditures, and
Changes in Fund Balance
General Fund
Year Ended September 30, 2022
Revenues:
Commissions and fees $ 27,744,766
Miscellaneous 242,121
Total revenues 27,986,887
Expenditures:
General government:
Personal services
13,550,522
Operating
2,752,224
Capital outlay
2,647,704
Debt Service - Principal
74,125
Debt Service - Interest
37,252
Total expenditures
19,061,827
Excess of revenues over expenditures
8,925,060
Other financing uses:
Distribution of excess commissions and
fees to Collier County, Florida Board of County
Coinissioners (7,643,342)
Distribution of excess commissions and
fees to other governmental agencies (1,281,718)
Total other financing uses (8,925,060)
Net change in fund balance -
Fund balance, beginning of year -
Fund balance, end of year $ -
See accompanying Notes to Financial Statements.
Collier County, Florida
Tax Collector
Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget to Actual
General Fund
Year Ended September 30, 2022
Revenues:
Commissions and fees
Miscellaneous
Total revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Debt Service - Principal
Debt Service - Interest
Total expenditures
Excess of revenues over expenditures
Other financing uses:
Distribution of excess commissions and
fees to Collier County, Florida
Board of County Commissioners
Distribution of excess commissions
and fees to other governmental
agencies
Total other financing uses
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year
Variance With
Final Budget
Budget Positive
Original Final Actual (Negative)
$ 25,957,860
$ 25,957,860
$ 27,744,766 $
1,786,906
251,400
251,400
242,121
(9,279)
26,209,260
26,209,260
27,986,887
1,777,627
14,156,457
14,156,457
13,550,522
(605,935)
2,995,489
2,995,489
2,752,224
(243,265)
3,280,100
3,280,100
2,647,704
(632,396)
-
-
74,125
74,125
-
-
37,252
37,252
20,432,046
20,432,046
19,061,827
(1,370,219)
5,777,214
5,777,214
8,925,060
3,147,846
See accompanying Notes to Financial Statements.
(4,947,555) (4,947,555) (7,643,342) (2,695,787)
(829,659) (829,659) (1,281,718) (452,059)
(5,777,214) (5,777,214) (8,925,060) (3,147,846)
Collier County, Florida
Tax Collector
Statement of Fiduciary Net Position
Custodial Fund
September 30, 2022
Assets
Cash and cash equivalents
Accounts receivable
Total assets
Liabilities
Due to other governmental agencies
Due to individuals and businesses
Total liabilities
Fiduciary Net Position
See accompanying Notes to Financial Statements.
$ 4,348,591
13,684
4,362,275
4,229,241
133,034
4,362,275
7
Collier County, Florida
Tax Collector
Combining Statement of Changes in Fiduciary Net Position
Custodial Fund
Year Ended September 30, 2022
Additions
Tax Collections for Other Governments
License and Fee Collections for Other Governments
Miscellaneous
Total Additions
Deductions
Payments of Tax to Other Governments
Payments of Licenses and Fees to Other Governments
Total Deductions
Change in Fiduciary Net Position
Fiduciary Net Position - Beginning of Year
Fiduciary Net Position - End of Year
See accompanying Notes to Financial Statements.
$ 732,921,517
40,508,493
81,103
773,511,113
732,921,517
40,589,596
773,511,113
E
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies
Reporting Entity
The Tax Collector is an elected official of the County, pursuant to the Constitution of the State of
Florida, Article VIII, Section 1(d). The Tax Collector is part of the primary government of the
County. Although the Florida Department of Revenue approves the Tax Collector's operating
budget, the Tax Collector is responsible for the administration and the operation of the Tax
Collector's office. Upon approval, the operating budget is provided to the Collier County Board
of County Commissioners (Board). The Tax Collector's financial statements include only the
funds of the Tax Collector's office. There are no separate legal entities (component units) for which
the Tax Collector is considered to be financially accountable.
Measurement Focus, Basis of Accounting, and Basis of Presentation
These financial statements have been prepared for the purpose of complying with
Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General — Local
Governmental Entity Audits, which allows the Tax Collector to only present fund financial
statements. These financial statements present only the portion of the funds of Collier County,
Florida that are attributable to the Tax Collector. They are not intended to present fairly the
financial position and results of operations of Collier County, Florida in conformity with
accounting principles generally accepted in the United States of America.
The financial activities of the Tax Collector, as a constitutional officer, are included in the Collier
County, Florida Annual Comprehensive Financial Report.
These fund financial statements report detailed information about the Tax Collector. The focus of
governmental fund financial statements is by type.
See accompanying Notes to Financial Statements.
N
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Governmental Funds
Governmental funds are accounted for using the flow of current financial resources measurement
focus. Only current assets and current liabilities, generally, are included on the balance sheet.
Operating statements for these funds present increases (i.e., revenues and other financing sources)
and decreases (i.e., expenditures and other financing uses) in net current assets. The Tax
Collector's only governmental fund is the general fund. The general fund is used to account for
the general operations of the Tax Collector and includes all transactions not accounted for in
another fund.
The modified accrual basis of accounting is used by governmental funds. Under the modified
accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they
become measurable and available to finance liabilities of the current fiscal year). For this purpose,
the Tax Collector considers revenues to be available if they are collected within 60 days after year-
end. Expenditures are recorded when the related fund liability is incurred, except for certain
compensated absences, which are recognized as expenditures to the extent they have matured.
Interest income and other revenue are recognized as they are earned and become measurable and
available to pay liabilities of the current period.
Substantially all of the Tax Collector's revenue is received from taxing authorities. These monies
are virtually unrestricted and are revocable only for failure to comply with prescribed compliance
requirements. These resources are reflected as revenue at the time of receipt, earlier if the
"susceptible to accrual" criteria are met.
Florida Statutes provide that the amount by which revenues exceed annual expenditures be
remitted to each governmental agency or the Board immediately following the fiscal year for which
the funding was provided or following the fiscal year during which other revenue was recognized.
Capital outlays expended in the general fund operations are capitalized in the basic financial
statements of Collier County, Florida rather than in the governmental funds of the Tax Collector.
See accompanying Notes to Financial Statements.
10
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Fiduciary Funds
Custodial funds — Fiduciary funds are used to account for assets held by the Tax Collector in a
trustee capacity or as an agent for individuals, private organizations, and other governments.
Custodial funds do not involve measurement of results of operations or have a measurement focus
(assets equal liabilities). Custodial funds are accounted for using the accrual basis of accounting.
Refund of "Excess Fees"
Florida Statutes further provide that the excess of revenues over expenditures held by the Tax
Collector be distributed to each governmental agency or the Board in the same proportion as the
fees paid by each governmental agency bear to total fee revenues. The amount of this distribution
is recorded as a liability and as an other financing use -transfer out in the accompanying financial
statements.
Compensated Absences
On October 1, 2021, the Tax Collector's office transitioned from having two paid time off (PTO)
policies (sick and vacation) to a single PTO policy. All full-time employees of the Tax Collector
are allowed to accumulate a limited number of PTO hours (between 136 and 240 annually),
depending on tenure. Any accrued hours from the discontinued sick policy were valued at the
employees' September 30, 2021, rate of pay with multiple options for payout. First, employees
with 800 or more accumulated sick hours could choose to exchange their first 800 hours for free
health insurance until covered by Medicare. Secondly, all remaining employees could choose
between 1) immediate 100% payout into their Section 457(b) upon satisfying budget and Internal
Revenue Service contributions limitations or 2) up to 75% payout upon separation of service. Any
accrued hours from the discontinued vacation policy were rolled into the new PTO policy. Upon
separation of service, employees receive 1) 100% of accumulated PTO hours at their current rate
of pay and 2) a percentage of unused sick leave hours (ranging from 0% to 75%, depending on
years of service), valued at the employees' September 30, 2021, rate of pay. PTO and sick leave
payments are included in operating costs of the general fund when the payments are made to the
employees. The Tax Collector does not, nor is legally required to, accumulate financial resources
for these unmatured obligations. Accordingly, the liability for compensated absences is not
reported in the general fund of the Tax Collector, but rather is reported in the basic financial
statements of Collier County, Florida.
See accompanying Notes to Financial Statements.
11
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Property Taxes
Property taxes in Collier County are levied by the Board and other taxing authorities. The millage
levies are determined on the basis of estimates of revenue needs and the total taxable valuations
within the jurisdiction of the Board and other taxing authorities. No aggregate ad valorem tax
millage in excess of 10 mills on the dollar can be levied by the Board against property in the
County as specified in Florida Statutes, Section 200.071.
Each year the total taxable property valuation is established by the Collier County, Florida Property
Appraiser, and the list of property assessments is submitted to the State Department of Revenue
for approval. Taxes, assessed as of January 1 of each year, are due and payable on November 1 of
each year or as soon thereafter as the assessment roll is opened for collection. Pursuant to Florida
law, all owners of property have the responsibility of ascertaining the amount due and paying it
before April 1 of the year following the year in which the tax was assessed.
Chapter 197, Florida Statutes, governs property tax collections as follows:
Current Taxes
All property taxes become due and payable on November 1 and are delinquent on April 1 of
the following year. Discounts are allowed for early payment of 4% in November; 3% in
December; 2% in January; and 1% for payment in February.
Unpaid Taxes — Sale of Tax Certificates
The Tax Collector advertises, as required by Florida Statutes, and sells tax certificates on all
real property for unpaid taxes. The taxes assessed on the property are struck off the tax roll to
the purchaser of the tax certificate. Certificates not sold are struck off to the County. The Tax
Collector must receive payment before the certificates are delivered. Any person owning land
upon which a tax certificate has been sold may redeem the tax certificate by paying the Tax
Collector the face amount of the tax certificate plus interest and other costs.
Tax Deeds
Two years after the purchase of a tax certificate the owner may file an application for tax deed
sale. The County, as a certificate owner, exercises similar procedures. Tax deeds are issued to
the highest bidder for the property which is sold at public auction. The Clerk of the Circuit
Court administers these sales.
See accompanying Notes to Financial Statements.
12
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of these financial statements requires management of the Tax Collector to make
a number of estimates and assumptions relating to the reported amounts of assets and liabilities
and the disclosure of contingent assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenditures during the period. Actual results could differ from
those estimates.
2. Budgetary Process
Florida Statutes govern the preparation, adoption, and administration of the Tax Collector's annual
budget. The Tax Collector submits a budget for the general fund to the Florida Department of
Revenue for approval. A copy of the approved budget is provided to the Board. Any subsequent
amendments to the Tax Collector's total budget must be approved by the Florida Department of
Revenue. The budget for the general fund is prepared on a basis consistent with accounting
principles generally accepted in the United States of America. The annual budget serves as the
legal authorization for expenditures.
Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at year-
end. Budget control is maintained at the departmental major object expenditure level. Budgetary
changes within major object expenditure categories are made at the discretion of the Tax Collector.
The original budget is the first complete appropriated budget. The final budget is the original
budget adjusted by all reserves, transfers, allocations, supplemental appropriations, and other
legally authorized changes applicable to the fiscal year, whenever legally authorized.
See accompanying Notes to Financial Statements.
13
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
3. Cash
At September 30, 2022, the carrying value of the Tax Collector's cash was as follows:
2022
Carrying
Type Value
Cash on hand $ 33,629
Demand deposits 15,847,660
Total cash and cash equivalents $ 15,881,289
Such amounts are reported as $11,532,698 and $4,348,591 for 2022 in the general and fiduciary
funds, respectively.
Custodial Credit Risk
At September 30, 2022, the Tax Collector's deposits were entirely covered by Federal Depository
Insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida
Statutes. Under this Chapter, in the event of default by a participating financial institution (a
qualified public depository), all participating institutions are obligated to reimburse the
governmental entity for the loss.
Credit Risk
The Tax Collector's policy is to follow the guidance in Section 219.075, Florida Statutes,
regarding the deposit of funds received and the investment of surplus funds. Sections 219.075 and
218.415, Florida Statutes, authorize the Tax Collector to invest in Florida PRIME or any
intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit
quality rating from a nationally recognized rating agency; direct obligations of the United States
Treasury; federal agencies and instrumentalities or interest -bearing time deposits or savings
accounts in banks organized under the laws of the United States and doing business and situated
in the State of Florida, savings and loan associations which are under state supervision, or in federal
savings and loan associations located in the State of Florida and organized under federal law and
federal supervision, provided that any such deposits are secured by collateral as may be prescribed
by law.
See accompanying Notes to Financial Statements.
14
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
3. Cash (continued)
Interest Rate Risk
The Tax Collector has no specific investment policy regarding interest rate risk.
4. Capital Assets
Capital assets used by the Tax Collector are capitalized in the basic financial statements of Collier
County, Florida rather than in the governmental funds of the Tax Collector. Upon acquisition, such
assets are recorded as expenditures in the general fund of the Tax Collector and are capitalized at
cost in the basic financial statements of Collier County, Florida. Capital assets are valued at
historical cost or estimated historical cost if actual historical cost is not available. Donated capital
assets are valued at acquisition value on the date received.
The Tax Collector maintains custodial responsibility for the capital assets used by the office. No
depreciation expense has been provided on capital assets in these financial statements. However,
depreciation expense on these assets is recorded in the basic financial statements of Collier County,
Florida.
See accompanying Notes to Financial Statements.
15
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
4. Capital Assets (continued)
The following is a summary of changes in capital assets for the year ended September 30, 2022:
Capital assets not depreciated:
Construction in progress
Total assets not depreciated
Capital assets - depreciable:
Infrastructure
Improvements other than buildings
Machinery and equipment
Right -to -use leased building 1
Right -to -use leased equipment 1
Total depreciable capital assets
Accumulated depreciation:
Infrastructure
Improvements other than buildings
Machinery and equipment
Total accumulated depreciation
Accumulated amortization:
Right -to -use leased building 1
Right -to -use leased equipment 1
Total accumulated amortization
Total depreciable capital assets, net
Total capital assets, net
October 1,
Deletions/
September 30,
2021
Additions
Reclassifications
2022
$ 10,007,556
$ 2,563,462
$ (12,515,500)
$ 55,518
10,007,556
2,563,462
(12,515,500)
55,518
21,988
-
(15,871)
6,117
105,093
-
(78,333)
26,760
1,816,612
84,243
(515,106)
1,385,749
1,894,005
-
-
1,894,005
53,259
-
(18,054)
35,205
3,890,957
84,243
(627,364)
3,347,836
(12,760)
(1,453)
8,950
(5,263)
(105,093)
-
78,333
(26,760)
(1,454,035)
(78,578)
515,105
(1,017,508)
(1,571,888)
(80,031)
602,388
(1,049,531)
(187,173)
(93,458)
-
(280,631)
(20,104)
(12,699)
18,054
(14,749)
(207,277)
(106,157)
18,054
(295,380)
(6,922)
2,002,925
2,111,792
(101,945)
$ 12,119,348 $ 2,461,517 $ (12,522,422) $ 2,058,443
1 The Tax Collector implemented GASB Statement No. 87 Leases in Fiscal Year 2020. Leases under GASB Statement No. 87 were added to the
financial statements disclosure in Fiscal Year 2022, resulting in a change in beginning balances.
During the fiscal year ended September 30, 2022, costs related to the completed construction of
the Heritage Bay Government Center totaling $12,515,500 and equipment of $84,243 were
transferred to Collier County, Florida.
See accompanying Notes to Financial Statements.
16
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
5. Long -Term Liabilities
The following is a summary of changes in long-term liabilities which are reported in the basic
financial statements of Collier County, Florida:
October 1, September 30,
2021 Increase Decrease 2022
Accrued compensated absences $ 1,255,433 $ 964,106 $ (1,649,231) $ 570,308
Of these liabilities, approximately $483,400 is expected to be paid during the fiscal year ending
September 30, 2023, which will be included in the operating costs of the general fund when
expended. These long-term liabilities are not reported in the financial statements of the Tax
Collector since they have not matured.
6. Pension Plans
Background
The Florida Retirement System (FRS) was created by Chapter 121, Florida Statutes, to provide a
defined benefit pension plan for participating public employees. The FRS was amended in 1998
to add the Deferred Retirement Option Program under the defined benefit plan and amended in
2000 to provide a 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 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.
See accompanying Notes to Financial Statements.
17
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Background (continued)
Essentially all regular employees of the Tax Collector are required to enroll as members of the
State -administered FRS, except for some re-employed retirees. 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 FRS Rules, Chapter 605, 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 the two cost -sharing, multiple -employer defined benefit 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, is available from the Florida Department of Management Services' Web site
(www. dms. myflorida. com).
Florida Retirement System Pension Plan
Plan Description
The Florida Retirement System Pension Plan (FRS 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.
• Elected County Officers Class — Members who hold specified elective offices in local
government.
• Senior Management Service Class (SMSQ — Members in senior management level
positions.
• Special Risk Class — Members who are special risk employees, such as law enforcement
officers, meet the criteria to qualify for this class.
• Special Risk Administrative Support Class — Members who provide administrative support
for a special risk employer.
See accompanying Notes to Financial Statements.
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Florida Retirement System Pension Plan (continued)
Plan Description (continued)
Employees enrolled in the FRS Plan prior to July 1, 2011, vest at 6 years of creditable service and
employees enrolled in the FRS Plan on or after July 1, 2011, vest at 8 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 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 FRS 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. Special risk employees enrolled in the FRS Plan may include up to 4
years of credit for military service toward creditable service. The FRS 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 FRS Plan provides retirement, disability, and death benefits
to eligible participants. Annual cost -of -living adjustments are limited to members initially
employed before July 1, 2011.
DROP, subject to provisions of Section 121.091, Florida Statutes, permits employees eligible for
normal retirement under the FRS Plan to defer receipt of monthly benefit payments while
continuing employment with an FRS participating employer. An employee may participate in
DROP for a period not to exceed 60 months after electing to participate, except that certain
instructional personnel may participate for up to 96 months. 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.
See accompanying Notes to Financial Statements.
19
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Florida Retirement System Pension Plan (continued)
Benefits Provided
Benefits under the FRS Plan are computed on the basis of age and/or years of service, average
final compensation, and service credit. 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 5 highest fiscal years' earnings; for members initially
enrolled on or after July 1, 2011, the average final compensation is the average of the 8 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 the retirement 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.
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% 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% determined by dividing the sum of the
pre -July 2011 service credit by the total service credit at retirement multiplied by 3%. FRS Plan
members initially enrolled on or after July 1, 2011, will not have a cost -of -living adjustment after
retirement.
Detailed information about the County's proportionate share of FRS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -wide
statements of the County.
Retiree Health Insurance Subsidy Promram
Plan Description
The Retiree Health Insurance Subsidy Program (HIS Plan) is a cost -sharing multiple -employer
defined benefit pension plan established under Section 112.363, Florida Statutes, and may be
amended by the Florida Legislature at any time. 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 Florida Department of Management Services, Division of Retirement.
See accompanying Notes to Financial Statements.
20
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
Retiree Health Insurance Subsidy Prozram
Benefits Provided
For the fiscal year ended June 30, 2022, eligible retirees and beneficiaries received a monthly HIS
payment of $5 for each year of creditable service completed at the time of retirement, with a
minimum HIS payment of $30 and a maximum HIS payment of $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 may
include Medicare.
Detailed information about the County's proportionate share of HIS's net pension liability,
deferred outflows/inflows of resources, and pension expense are reported in the government -wide
statements of the County.
FRS Investment Plan
The Florida State Board of Administration (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 Annual Comprehensive 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. Tax Collector 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 are directed to
individual member accounts, and the individual members allocate contributions and account
balances among various approved investment choices. Costs of administering plan, including the
FRS Financial Guidance Program, are funded through an employer contribution of 0.06% of
payroll and by forfeited benefits of plan members.
See accompanying Notes to Financial Statements.
21
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
6. Pension Plans (continued)
FRS Investment Plan (continued)
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. Non -vested 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 June 30, 2022, 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 Tax Collector.
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.
Contributions
Participating employer contributions are based upon statewide rates established by the State of
Florida. The Tax Collector's contributions made to the plans during the years ended September
30, 2022, 2021, and 2020 were $1,156,878, $992,718, and $843,840, respectively, equal to the
actuarially determined contribution requirements for each year.
Additional information about pension plans can be found in the County's Annual Comprehensive
Financial Report or County -wide financial statements.
See accompanying Notes to Financial Statements.
22
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
7.Other Postemployment Benefits (OPEB)
In accordance with Section 112.0801, Florida Statutes, the Tax Collector participates with Collier
County in offering retiring employees the opportunity to continue participation in the County's
health insurance plan. The participating retirees pay 100% of the premium cost applicable to an
active employee. The liability and expense for other postemployment benefits, calculated in
accordance with Governmental Accounting Standards Board Statement No. 75 Accounting and
Financial Reporting for Postemployment Benefits Other Than Pensions, are reported in the
financial statements of the County.
8. Related Party Transactions
During the fiscal year ended September 30, 2022, the Board paid commissions and fees to the Tax
Collector that amounted to $20,456,181.
At September 30, 2022, the Tax Collector had a payable due to the Board of $9,730,750 comprised
as follows:
2022
Distribution of unused commissions and fees $ 7,643,342
Tax and fee collections due to the Board 2,087,408
Total $ 9,730,750
9. Risk Management
Collier County, Florida (County) is exposed to various risks of loss including but not limited to,
general liability, health and life, property and casualty, auto and physical damage, and workers'
compensation. The County is substantially self -insured and accounts for and finances its risk of
uninsured losses through an internal service fund. All liabilities associated with these self -insured
risks are reported in the basic financial statements of the County. The Tax Collector participates
in the County's self-insurance program. During the year ended September 30, 2022, the Tax
Collector was charged $3,062,267 by the County for participation in the risk management
program.
See accompanying Notes to Financial Statements.
23
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
9. Risk Management (continued)
The County retains the first $600,000 per claim for workers' compensation and has purchased
excess coverage for up to statutory limit for each injury or illness. The County also provides
coverage for up to $500,000 per occurrence for general liability and $300,000 per occurrence
for auto liability coverage and has purchased outside excess coverage for up to $5 million per
claim. Negligence claims in excess of the statutory limits set in Section 768.28, Florida Statutes,
which provide for limited sovereign immunity of $200,000/$300,000 per occurrence can only be
recovered through an act of the State Legislature. Property claims are subject to a 5 percent
wind deductible and a $50,000 deductible for all other perils. The County retains the first
$300,000 per claim for general liability, public official errors and omissions, automobile liability
and crime coverage and has purchased excess coverage for up to $5 million per claim. There
have been no significant reductions in insurance coverage in the last year. Settled claims have
not exceeded the insurance provided by third -party carriers in any of the last three years.
The County is self -insured for health claims covering all of its employees and their eligible
dependents. The County retains the first $1,000,000 per covered member and has purchased
outside excess coverage for all claims exceeding this amount. An actuarial valuation is
performed each year to estimate the amounts needed to pay prior and future claims and to
establish reserves.
10. Commitments and Contingencies
Leases
The Collier County Tax Collector leases assets for various terms under certain agreements that
meet the definition of a lease under GASB Statement No. 87 - Leases. Detailed information about
the Collier County Tax Collector's leases can be found in the Collier County Annual
Comprehensive Financial Report or County -wide financial statements.
Leases entered into by the Collier County Tax Collector are included as other financing sources
and capital outlay expenditures in the statement of revenues, expenditures, and changes in fund
balance in the year of inception. Payments made in accordance with the lease terms are reported
as debt service expenditures in the statement of revenues, expenditures, and changes in fund
balance as they are incurred.
See accompanying Notes to Financial Statements.
24
Collier County, Florida
Tax Collector
Notes to Financial Statements
September 30, 2022
10. Commitments and Contingencies (continued)
Leases (continued)
During the year ended September 30, 2022, the Collier County Tax Collector did not enter into
any new leases. During the year ended September 30, 2022, the Collier County Tax Collector's
principal payments on leases totaled $74,125.
Litigation
The Tax Collector is involved as a defendant or plaintiff in certain litigation and claims arising
from the ordinary course of operations. In the opinion of the Tax Collector and legal counsel, the
range of potential recoveries or liabilities will not materially affect the financial position of the
Tax Collector.
See accompanying Notes to Financial Statements.
25
OPF
Clifton LarsonAllen LLP
CLAconnect.com
INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Rob Stoneburner
Tax Collector
Collier County, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the general fund and
the remaining fund information of the Collier County, Florida, Tax Collector (Tax Collector) as of and for
the year ended September 30, 2022, and the related notes to the financial statements, which collectively
comprise the Tax Collector's basic financial statements, and have issued our report thereon dated
January 14, 2023.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Tax Collector'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 opinions on the financial
statements, but not for the purpose of expressing an opinion on the effectiveness of the Tax Collector's
internal control. Accordingly, we do not express an opinion on the effectiveness of the Tax Collector's
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist that were not identified.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer 26
Honorable Rob Stoneburner
Tax Collector
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Tax Collector'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 or other matters that are required to be reported under
Government Auditing Standards.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity's internal control and compliance. Accordingly,
this communication is not suitable for any other purpose.
/�a, � � LLB
CliftonLarsonAllen LLP
Naples, Florida
January 14, 2023
27
0
Honorable Rob Stoneburner
Tax Collector
Collier County, Florida
Clifton LarsonAllen LLP
CLAconnect.com
MANAGEMENT LETTER
Report on the Financial Statements
We have audited the financial statements of the Collier County, Florida, Tax Collector (Tax Collector) as
of and for the year ended September 30, 2022, and have issued our report thereon dated January 14,
2023.
Auditors' Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States
of America; the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States and Chapter 10.550, Rules of the Florida Auditor
General.
Other Reporting Requirements
We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards and Independent Accountants' Report on an examination conducted in
accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements
in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports which are
dated January 14, 2023 should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)l ., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual
financial audit report. There were no such findings reported in the prior audit report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal
authority for the primary government and each component unit of the reporting entity be disclosed in this
management letter, unless disclosed in the notes to the financial statements. See Note 1 in the notes to
the financial statements.
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. Sep CLAglobal.com/disclaimer 28
Honorable Rob Stoneburner
Tax Collector
Financial Management
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any
recommendations to improve financial management. In connection with our audit, we did not have any
such recommendations.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with
provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred,
that have an effect on the financial statements that is less than material, but which warrants the attention
of those charged with governance. In connection with our audit, we did not note any such findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor
General, federal and other granting agencies, the Tax Collector and applicable management and is not
intended to be, and should not be, used by anyone other than these specified parties.
CliftonLarsonAllen LLP
Naples, Florida
January 14, 2023
29
OPF
Honorable Rob Stoneburner
Tax Collector
Collier County, Florida
CliftonLarsonAllen LLP
CLAconnect.com
INDEPENDENT ACCOUNTANTS' REPORT
We have examined the Collier County, Florida, Tax Collector (Tax Collector)'s compliance with Section
218.415, Florida Statutes, regarding the investment of public funds; during the year ended
September 30, 2022. Management of the Tax Collector is responsible for the Tax Collector's compliance
with the specified requirements. Our responsibility is to express an opinion on the Tax Collector's
compliance with the specified requirements based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the Tax Collector complied, in all material
respects, with the specified requirements referenced above. An examination involves performing
procedures to obtain evidence about whether the Tax Collector complied with the specified requirements.
The nature, timing, and extent of the procedures selected depend on our judgment, including an
assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the
evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
Our examination does not provide a legal determination on the Tax Collector's compliance with specified
requirements.
In our opinion, the Tax Collector's complied, in all material respects, with Section 218.415, Florida
Statutes, regarding the investment of public funds; during the year ended September 30, 2022.
This report is intended solely for the information and use of the Tax Collector 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.
LLB
CliftonLarsonAllen LLP
Naples, Florida
January 14, 2023
CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer 30
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