CAFR Year End 09-30-2011Collier County
Florida
Comprehensive Annual Financial Report
Year Ended September 30, 2011
The Comprehensive Annual Financial Report (CAFR) is prepared
each year by the office of the Clerk of the Circuit Court on behalf of
Collier County government.
On the cover:
The Florida Everglades is a unique natural wonder and an important
Part of Collier County.
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR FISCAL YEAR ENDED
SEPTEMBER 30, 2011
COLLIER COUNTY, FLORIDA
BOARD OF COUNTY COMMISSIONERS
FRED W. COYLE, CHAIRMAN — DISTRICT 4
JIM COLETTA, VICE - CHAIRMAN — DISTRICT 5
DONNA FIALA — DISTRICT 1
GEORGIA A. HILLER — DISTRICT 2
TOM HENNING — DISTRICT 3
COUNTY MANAGER
LEO E. OCHS, Jr.
COUNTY ATTORNEY
JEFFREY A. KLATZKOW
CLERK OF THE CIRCUIT COURT AND CHIEF FINANCIAL OFFICER
DWIGHT E. BROCK
DIRECTOR OF FINANCE AND ACCOUNTING
CRYSTAL K. KINZEL
Prepared by the Office of the Clerk of the Circuit Court,
Finance and Accounting Department
COLLIER COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2011
TABLE OF CONTENTS
INTRODUCTORY SECTION
Transmittal Letter Page
............................................................................................................................................ ............................... i
Certificateof Achievement ............................................................................................................................ ............................... vii
OrganizationalChart ....................................................................................................................................... ............................... ix
FINANCIAL SECTION
Report of Independent Certified Public Accountants ................................................................................... ............................... 1
Management's Discussion and Analysis ( Unaudited) ................................................................................... ............................... 3
Basic Financial Statements:
Statementof Net Assets .......................................................................................................................... .......................I....... 14
Statementof Activities ................................................................................................................................ .............................16
BalanceSheet — Governmental Funds ..................................................................................................... ............................... 18
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets ............. ............................... 19
Statement of Revenues, Expenditures and Changes in Fund Balances — Governmental Funds ............... .............................20
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental
Fundsto the Statement of Activities ................................................................................................. .............................21
General Fund - Statement of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual
(Budgetary Basis) ............................................................................................................................ ............................... 22
Statement of Net Assets — Proprietary Funds ............................................................................................ .............................2S
Statement of Revenues, Expenses and Changes in Fund Net Assets — Proprietary Funds ....................... .............................27
Statement of Cash Flows — Proprietary Funds ........................................................................................... .............................28
Statement of Fiduciary Assets and Liabilities — Agency Funds ................................................................... .............................30
Notesto the Financial Statements ............................................................................................................. .............................31
RequiredSupplementary Information ...........................................................................................................
.............................74
Combining and Individual Fund Financial Statements:
Nonmaior Governmental Funds
CombiningBalance Sheet ................................................................................................................................
.............................80
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
........................................ .............................90
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual (Non- GAAP) ..............100
Nonmaior Enterprise Funds
CombiningStatement of Net Assets ...........................................................................................................
124
...............................
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
....................................... ...............................
CombiningStatement of Cash Flows
125
................................................................................ ............................... ............................126
Internal Service Funds
CombiningStatement of Net Assets ...........................................................................................................
128
...............................
Combining Statement of Revenues, Expenses and Changes in Fund Net Assets
....................................... ...............................
CombiningStatement of Cash Flows
129
........................................................................................................... ...............................
130
Fiduciary Funds
Combining Statement of Fiduciary Assets and Liabilities ...........................................................................
132
...............................
Combining Statement of Changes in Assets and Liabilities
............................................. ............................... ............................133
Component Units
CombiningStatement of Net Assets ...........................................................................................................
136
...............................
Combining Statement of Revenues, Expenditures and Changes in Net Assets
.............. ............................... ............................137
COLLIER COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2011
TABLE OF CONTENTS - CONTINUED
STATISTICAL SECTION (UNAUDITED)
NetAssets by Component ................................................................................................ ............................... ............................140
Changein Net Assets
................................................................................................................................... ...............................
Governmental Activities Tax Revenues by Source
141
........................................................... ............................... ............................144
FundBalances of Governmental Funds ......................................................................................................
145
...............................
Changes in Fund Balances of Governmental Funds ....................................................................................
146
...............................
Assessed Value and Estimated Actual Value of Taxable Property
.............................................................. ...............................
Property Tax Rates — All Direct and Overlapping Governments
148
................................................................. ...............................
PrincipalTax Payers County- Wide
149
............................................................................................................... ...............................
150
PropertyTax Levies and Collections ............................................................................................................ ...............................
151
Ratiosof Outstanding Debt by Type ........................................................................................................... ...............................
152
Ratios of General Bonded Debt Outstanding .............................................................................................. ...............................
153
LegalDebt Margin Information ................................................................................................................... ...............................
154
Direct and Overlapping Governmental Activities Debt
............................................................................... ...............................
154
Pledged- Revenue Coverage ......................................................................................................................... ...............................
Demographicand Economic Statistics
155
........................................................................................................ ...............................
156
PrincipalEmployers ..................................................................................................................................... ...............................
157
Full -Time Equivalent County Employees by Function .................................................................................
158
...............................
OperatingIndicators by Function
................................................................................................................ ...............................
159
CapitalAsset Statistics by Function ............................................................................................................. ...............................
160
SINGLE AUDIT /SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE PROJECTS
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 ................163
Report of Independent Certified Public Accountants on Compliance With Requirements Applicable to Each
Major Federal Program and State Project and on Internal Control Over Compliance in Accordance With OMB
Circular A -133, Section 215.97, Florida Statutes, and Chapter 10.550, Rules of the Auditor General ........ ............................165
Schedule of Expenditures of Federal Awards and State Projects .................................... ............................... ............................170
Notes to the Schedule of Expenditures of Federal Awards and State Projects .............. ............................... ............................176
Schedule of Findings and Questioned Costs .................................................................... ............................... ............................178
Scheduleof Prior Audit Findings ...................................................................................... ............................... ............................205
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CLERK OF THE C;
Dwight E. Brock COLLIER COUNTY
3299 TAMIAMI TRAIL
Clerk of Courts NAPLES, FLORID
March 13, 2012
To the Citizens and
Members of the Board of County Commissioners,
Collier County, Florida
ier
CUIT COURT
Clerk of Courts
ST, S TE #403 Accountant
4112 -5 46
{ Auditor
� A Y i Custodian of County Funds
It is with extreme pleasure that we present to you, the citizens of Collier County and members
of the Board of County Commissioners, the Comprehensive Annual Financial Report (CAFR) for
the fiscal year ended September 30, 2011. Responsibility for the accuracy of the data and the
completeness and fairness of the presentation, including all disclosures, rests with the Board of
County Commissioners and County management.
The Clerk of the Circuit Court'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. The Clerk
is not capable of representing that the internal controls of the County provide reasonable
assurance as his office was precluded from examining those controls for several years as a
result of a dispute regarding the role of the Clerk of the Circuit Court as County Auditor. On
November 10, 2010 the Florida Supreme Court dismissed the appeal of the Board of County
Commissioners of Collier County v. Dwight Brock, and in doing so, reaffirmed the right of Clerk
of Courts, Dwight Brock to audit all public funds used in county operations. The Florida
Supreme Court upheld an earlier decision by the Florida Second District Court of Appeals issued
on September 23, 2009. The Clerk reconstituted its auditing role during fiscal year 2011.
Chapter 218.39 of the Florida Statutes requires an independent certified public accountant's
financial audit of counties in the State. For the fiscal year ended September 30, 2011 the
independent auditor, Ernst and Young LLP, issued an unqualified 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 Federal 1996 Single Audit Act Amendments and the related OMB Circular
A -133. The Florida Single Audit is required by Florida Statute 215.97. Information relating to
the Single Audits, including the schedule of expenditures of federal awards and state projects
and the independent auditors' report on compliance and internal control over compliance with
requirements applicable to each major federal and state program, are included in the Federal
and State Single Audit Section of this report.
Phone- (239) 252 -2745 Fax- (239) 252 -2755
Website- www.colliercierk.com Email- collierclerkkcollierclerk.com
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 is made up of five residents elected by voters. In
addition to the County Commissioners, voters elect the following five constitutional officers:
the Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax
Collector.
The County provides its citizens with a wide range of services that include law enforcement,
emergency management, fire and EMS services, animal services, library, museum and cultural
services, parks and recreation operations, road maintenance and construction. Additionally,
the County owns and operates a water and wastewater utility, a solid waste landfill and
recycling program, and a transit system.
Budgets are prepared annually. Formal budgetary integration is employed as a management
control throughout the year. The Board of County Commissioners conducts budget workshops
during June of each year. The Board's proposed budget is released by July 15, in accordance
with Florida Statutes. The budgets of Constitutional Officers are presented to the appropriate
authorizing bodies according to state statute. 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 largest county at 2,026 square miles, is on the southwest coast of
Florida, directly west of Miami. With a 2011 population of 321,520 (a 22 percent increase over
the last ten years), the County has been considered to be one of the fastest growing counties in
the state over the last ten years. The County's economic base is concentrated in tourism,
agriculture, fishing, ranching and forestry with a growing services economy and an emerging high
technology sector. Gulf of Mexico beaches and the Everglades National Park are important
attractions to this area.
Taxable property market valuation for fiscal year 2011 totaled $61.4 billion, or a very high
$191,080 per capita. Unemployment levels in recent years approximate, or are slightly above,
the statewide average. The 2011 annual County unemployment rate stood at 11.4 %, while the
statewide average is 10.6 %. Income levels are high, with a per capita personal income of
$60,049.
ii
The County's financial operations have been managed with recurring General Fund operating
surpluses contributing to historically strong cash and General Fund balance positions. This
trend has been negatively impacted by property tax legislation and a general slowing of the
economy. The County's millage for General Fund operations in fiscal year 2011 remained at
only 35% of the statutory 10 mill limit, or $3.56 per thousand dollars of taxable value.
Relevant financial policies include the appropriation of carryforward as revenue in the following
year, budgeting revenues with a 5% reserve, recommended General Fund unreserved fund
balance of between 10% and 15% of actual expenditures, the assessment of impact fees at such
levels as allowed by law and supported by studies, and the earmarking of gas taxes for payment
of debt service on the Series 2003 and 2005 Gas Tax Revenue Bonds. The Collier County Debt
Policy provides for a maximum ratio of total general governmental debt service to bondable
revenues from current sources of 13 %.
The major focus of the Capital Improvement Plan for fiscal year 2012 will be to complete the
transportation network, public service and life, health and safety related projects initiated over
the past few years. Funding for road construction will be provided by remaining unspent Road
Construction Fund monies and road impact fees. Water and wastewater projects will be
focused on maintenance and will be funded primarily by water and wastewater user fees.
LONG TERM FINANCIAL PLANNING
Long term financial planning in Collier County focuses on the provisions of the Local
Government Comprehensive Planning and Land Development Regulation Act. The provisions of
this Act require that local government comprehensive plans include a Capital Improvement
Element (CIE). 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). Included in the
County's current CIP for fiscal years 2012 -2016 are approximately $154 million for
transportation projects and approximately $175 million for water and wastewater facilities and
various replacement and rehabilitation projects. Parks and recreation projects of
approximately $33 million are planned, as well as $26 million for tourist development and
green space projects. Less than one percent of the fiscal year 2012 — 2016 Capital
Improvement Program is funded by bond or loan proceeds.
In summary, the multi -year implications of tax reform, continuing declines in property tax
values, volatile state shared revenues and unpredictable construction permitting revenues have
changed the priorities of Collier County. Reduction of recurring costs in ad valorem and
building fees supported areas, realignment of operations for purposes of efficiency and the
reduction or deferral of capital expenditure was used to offset revenue declines. The continued
decrease in property taxable values was not unanticipated. New home construction has been
hampered by the number of existing homes available and an increased number of foreclosures.
The overall housing market remains relatively soft, however there continues to be activity in
the high end real estate market. State budget issues are of further concern, competitive
regional tourism coupled with sales tax volatility creates potential for unstable State revenues.
iii
Historically, Collier County's economy has proven to be better insulated from economic
downturns than other Florida counties, or the nation. However, future years will be
challenging, given the current issues in the housing market, the state budget, inflationary
concerns, and revenue limitations imposed by tax reform.
RELEVANT FINANCIAL POLICIES
Consistent with the 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. Collier County took advantage of this type of savings
by refunding the Series 2002 Capital Improvement Revenue Bonds with the Series 2010B
Special Obligation Refunding Revenue Bonds. Collier County also prepaid the remaining
outstanding balance of the Series 2008 Conservation Collier Bond during fiscal year 2011.
These transactions are further described in Note 8 to the financial statements.
The Finance and Accounting Department monitors the daily cash needs of the County and
invests the County's portfolio in accordance with the County's written 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, U.S. treasury securities, U.S. agency securities,
commercial paper and bankers' acceptances. The weighted average maturity, to first call, of
the total managed portfolio was .35 years, not including overnight deposits, as of September
30, 2011. The average yield for fiscal year 2011 was .78 %, which constitutes a significant
reduction from historical rates, but is consistent with current market rates for similar portfolios.
Changes in the fair value of investments are recorded as part of interest income in the financial
statements.
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 Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30,
2010. 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 Comprehensive Annual Financial Report whose contents
conform to program standards. The CAFR must satisfy both generally accepted accounting
principles and applicable legal requirements.
IV
A Certificate of Achievement is valid for a period of one year only. Collier County has received
this award for the past twenty -five years, from fiscal year 1986 to 2010. 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.
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, 2010. 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
twenty -two 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 for its annual budget for the fiscal year beginning October 1, 2010. 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 ten consecutive years.
ACKNOWLEDGEMENTS
The preparation and publication of this Comprehensive Annual 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 Kelly Jones, CGFO, Edith Manuel, CPA, Precious Corrado, June Wathen, Liz
Willis, Suzanne Boothby, Christine Killen, Dan Tripaldi, Ashley Pearson and Don Holder, all
Accountants, along with Constance Murray, CGFO, General Operations Manager, Raymond
Milum, Jr., Clerk's Fiscal Operations Manager and Nancy Fragione, Senior Financial Specialist,
Jennifer Milum, Office Assistant, and all of the staff of the Finance and Accounting Department.
Sincere appreciation is also expressed to Ernst and Young LLP, the Board of County
Commissioners, the Constitutional Officers, the County Manager, Division Administrators and
the Department Directors for their assistance throughout the year in matters pertaining to the
financial affairs of the County.
V
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 Crystal K. Kinzel, Director of Finance and Accounting, at (239) 252 -6299
Re ctfully,
Dwigh . Brock
Clerk of the Circuit Court
Chief Financial Officer
Crysta Nf. i nzel
Deputy Clerk
Director Fi nce and Accounting
rek M. Johnssen, CPA
Deputy Clerk
General Accounting Manager
V1
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Collier County
Clerk of the Circuit Court
Florida
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2010
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
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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 comprehensive annual financial report for the fiscal year ended September 30, 2010. This
was the twenty -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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FINANCIAL SECTION
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!� FRNST &Y Ernst & Young LLP
(I I I I I I I DUNG Suite 500
1 I I I 5100 Town Center Circle
I
Boca Raton, FL 33486
Tel: +1 561 55 8000
Fax: +1 561 558200
www.ey.com
Report of Independent Certified Public Accountants
Distinguished Members of the
Board of County Commissioners
Collier County, Florida:
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, 2011, which collectively comprise the County's basic financial
statements as listed in the table of contents. These financial statements are the responsibility of
the County's management. Our responsibility is to express opinions on these financial statements
based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. We were not engaged to perform an audit of the
County's internal control over financial reporting. Our audit included consideration of internal
control over financial reporting as a basis for designing 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 over financial reporting. Accordingly, we express no such opinion. An
audit also includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements, assessing the accounting principles used and significant estimates
made by management, and evaluating the overall financial statement presentation. We believe
that our audit provides a reasonable basis for our opinions.
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, 2011, and the respective changes in financial
position and, where applicable, cash flows thereof, and the respective budgetary comparison
information for the general fund for the year then ended in conformity with US generally
accepted accounting principles.
1202- 1333029
A member firm of Ernst 9 Young Global Limited
JERNST &YOUNG
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In accordance with Government Auditing Standards, we have also issued our report dated
February 29, 2012 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 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 internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
The Management's Discussion and Analysis on pages 3 through 13 and schedule of funding
progress for the retiree health plan on page 74 are not a required part of the basic financial
statements but are supplementary information required by the Governmental Accounting
Standards Board. We have applied certain limited procedures, which consisted principally of
inquiries of management regarding the methods of measurement and presentation of the required
supplementary information. However, we did not audit the information and express no opinion
on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the County's basic financial statements. The introductory section,
combining and individual nonmajor fund financial statements, and statistical section are
presented for purposes of additional analysis and are not a required part of the basic financial
statements. The accompanying schedule of expenditures of federal awards and state projects is
presented for purposes of additional analysis as required by the U.S. Office of Management and
Budget Circular A -133, Section 215.97, Florida Statutes and Chapter 10.550, Rules of the
Auditor General, and is not a required part of the basic financial statements. The combining and
individual nonmajor fund financial statements and the schedule of expenditures of federal awards
and state projects have been subjected to the auditing procedures applied in the audit of the basic
financial statements and, in our opinion, are fairly stated in all material respects in relation to the
basic financial statements taken as a whole. The introductory section and statistical section have
not been subjected to the auditing procedures applied in the audit of the basic financial
statements and, accordingly, we express no opinion on them.
f UP
February 29, 2012
1202 - 1333029 2
A member firm of Ernst & Young Global Limited
MANAGEMENT'S DISCUSSION AND ANALYSIS
(UNAUDITED)
As Clerk of the Circuit Court and chief financial officer of Collier County, Florida, 1 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, 2011. 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 exceeded its liabilities as of September 30, 2011 by $2,432,895,780. Of
this amount, $325,019,266 represents unrestricted net assets and may be used to meet future
obligations.
■ The County's total net assets decreased by $1,649,453 when compared to fiscal year 2010, with
an $18,356,829 decrease from governmental activities offset by a $16,707,376 increase
resulting from business -type activities.
■ As of September 30, 2011 Collier County's governmental fund financial statements showed
combined ending fund balances of $384,666,827, a decrease of $25,549,600 over the previous
fiscal year. Of the total combined ending fund balance, $14,200,963 remains in the various
governmental funds of Collier County as unassigned. Negative unassigned balances in various
capital project funds offset the General Fund's unassigned fund balance.
■ The General Fund reported an unassigned fund balance of $54,458,662 at September 30, 2011,
a decrease in unassigned General Fund balance of $5,246,578 when compared to September 30,
2010.
■ Total face value of bonded debt, notes and outstanding loans owed by Collier County decreased
by $48,863,595 during fiscal year 2011, with a decrease in governmental activities debt of
$36,902,855 and a decrease in the net business -type activities debt of $11,960,740. In
November of 2010 the outstanding Series 2002 Capital Improvement Revenue Bonds were
refinanced by the Series 20108 Special Obligation Revenue Bonds. The Series 2008
Conservation Collier Bonds were prepaid in April of 2011.
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. There is additional
supplementary information following these financial statements that may be of interest to the reader.
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 Assets and a Statement of Activities and are found on pages 14 to 17 of
this report.
3
The Statement of Net Assets shows the financial position of Collier County as of September 30, 2011.
The statement shows the County's assets less its liabilities, with the difference being reported as net
assets. Changes in net assets are useful indicators of financial condition.
The Statement of Activities follows the statement of net assets and reports the changes in net assets
over the fiscal period. All changes in net assets 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 accrued unused
vacation and sick 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 financial 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 18 to 24, account for substantially the same functions as
governmental activities reported under the government wide Statement of Net Assets 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 near term 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 two major funds, the
General Fund and the Government Facilities Impact Fee Fund. While there are many smaller
governmental funds under Collier County management, 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.
4
Proprietary funds
Collier County maintains two different types of proprietary funds, enterprise and internal service, which
are reflected on pages 25 to 29 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, Goodland water, solid waste disposal,
emergency medical services, transit and the airport authority. The Collier County Water and Sewer
District Fund and the Solid Waste Disposal Fund are presented individually as major funds.
Internal service funds are 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 are presented
on page 30 of this report. All of the County's fiduciary funds are agency funds. The accounting used for
agency funds is based on the concept that assets equal liabilities when the government is acting in a
fiduciary capacity.
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 32 to 72 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 80.
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 assets and statements of revenues, expenses and changes in fund net assets for enterprise funds.
Also included are combining financial statements for internal service and agency funds.
Additional information about the County, which may be of interest to the reader, can be found under
the Statistical and Single Audit sections 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.
The Single Audit grants compliance section lists the expenditures of Federal Awards and State Financial
Assistance during the fiscal year and presents grant compliance information as well as auditor reports.
5
Government Wide Financial Analysis
As noted earlier, net assets may serve over time as a useful indicator of a government's financial
position. Assets exceeded liabilities by $2,432,895,780 as of the fiscal year ending September 30, 2011
for Collier County.
Positive balances were reported in all categories of net assets in the governmental and business -type
activities for fiscal year 2011, as well as fiscal year 2010. Collier County's net assets at September 30,
2011 decreased $34,405,775 for unrestricted net assets and increased $21,612,764 for restricted net
assets. Restricted net assets are resources subject to external restriction on how they may be used
while unrestricted net assets may be used to meet the County's ongoing obligations.
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 74.6% of net
assets as of September 30, 2011, compared to 74.1% as of September 30, 2010. The County's
investment in capital assets, net of depreciation and related debt, increased by $11,143,558, when
compared to fiscal year 2010. Capital assets are used to 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 the capital assets.
Following are Collier County's net assets and changes in net assets for the fiscal years ended September
30, 2010 and 2011, shown in condensed form:
Collier County's Schedule of Net Assets
(in millions)
Governmental Business -type
Acti vi ti es Activities
2011 2010 2011 2010
Total
Percentage
Total Change
2011 2010 2010 -2011
Current and other assets
$ 477.2
$ 513.4
$ 235.6
$ 226.4
$ 712.8
$ 739.8
r
(3.6 %)
Capital assets, net
1,619.8
1,651.3
887.7
891.6
2,507.5
2,542.9
(1.4 %)
Total assets
2,097.0
2,164.7
1,123.3
1,118.0
3,220.3
3,282.7
(1.9 %)
Long -term liabilities
436.6
471.7
233.9
246.5
670.5
718.2
(6.6 %)
Current liabilities
87.2
101.4
29.7
28.5
116.9
129.9
(10.0 %)
Total liabilities
523.8
573.1
263.6
275.0
787.4
848.1
(7.2 %)
Net assets:
Invested in capital assets,
net of related debt
1,172.1
1,169.1
643.8
635.7
1,815.9
1,804.8
0.6%
Restricted
254.0
232.6
37.9
37.8
291.9
270.4
8.0%
Unrestricted
147.1
189.9
178.0
169.5
325.1
359.4
(9.5 %)
Total net assets
$1,573.2
$1,591.6
$ 859.7
$ 843.0
$2,432.9
$2,434.6
(0.1 %)
6
Collier County's Schedule of Changes in Net Assets
(in millions)
Total
Governmental Business -type Percentage
Activities Activities Total Change
2011 2010 2011 2010 2011 2010 2010 -2011
Revenues
Program revenues:
Charges for services
$ 61.6
$ 56.3
$152.9
$149.0
$ 214.5
$ 205.3
4.5%
Operati ng gra nts and contributions
19.5
31.9
4.4
4.4
23.9
36.3
r
(34.2 %)
Capital grants and contributions
19.4
25.8
14.3
10.4
33.7
36.2
r
(6.9 %)
General revenues:
81.4
76.6
-
-
81.4
76.6
6.3%
Property taxes
261.6
299.4
-
-
261.6
299.4
F (12.6 %)
Other taxes and shared revenues
78.9
76.1
-
-
78.9
76.1
3.7%
Interest income
3.9
4.7
1.6
1.6
5.5
6.3
F (12.7 %)
Miscellaneous
11.5
8.0
0.1
0.1
11.6
8.1
43.2%
Total revenues
456.4
502.2
173.3
165.5
629.7
667.7
F (5.6 %)
Expenses
General government
103.0
100.5
-
-
103.0
100.5
2.5%
Public safety
173.3
179.2
-
-
173.3
179.2
F (3.3 %)
Physical environment
18.3
16.8
-
-
18.3
16.8
8.9%
Transportation
81.4
76.6
-
-
81.4
76.6
6.3%
Economic environment
7.8
11.1
-
-
7.8
11.1
F (29.7 %)
Human services
13.9
13.0
-
-
13.9
13.0
6.9%
Culture and recreation
44.2
46.9
-
-
44.2
46.9
F
(5.8 %)
Interest on long -term debt
19.8
19.5
-
-
19.8
19.5
1.5%
Water and sewer
-
-
104.3
103.3
104.3
103.3
1.0%
Solid waste
-
-
28.0
27.4
28.0
27.4
2.2%
Airport authority
-
-
4.5
4.4
4.5
4.4
2.3%
Emergency medical services
-
-
22.7
23.1
22.7
23.1
F (1.7 %)
Mass transit
-
-
10.2
9.6
10.2
9.6
6.3%
Total expenses
461.7
463.6
169.7
167.8
631.4
631.4
0.0%
Increase (decrease) in net assets
before net transfers
(5.3)
38.6
3.6
(2.3)
(1.7)
36.3
(104.7 %)
Transfers, net
(13.1)
(11.3)
13.1
11.3
-
-
-
Change in net assets
(18.4)
27.3
16.7
9.0
(1.7)
36.3
(104.7 %)
Netassets - beginning
1,591.6
1,564.3
843.0
834.0
2,434.6
2,398.3
1.5%
Netassets - ending
$1,573.2
$1,591.6
$859.7
$843.0
$2,432.9
$2,434.6
(0.1 %)
7
Governmental Activities
The current year decrease in the net assets of governmental activities amounted to $18,356,829, a
decrease of 1.2% when compared to the previous year's net assets. The previous fiscal years' increase
was 1.8% and this declining rate of growth is the result of a continued decline in overall governmental
activities revenues.
■ Overall, revenues related to governmental activities decreased by 9.2 %, or $45,665,566.
■ Total ad valorem taxes collected in fiscal year 2011 were down $37,758,545, or 12.6 %, when
compared to fiscal year 2010. The decrease in collections is primarily due to an 11.6% average
reduction in countywide taxable property values.
■ Fiscal year 2010 included non - recurring operating grant revenues from a Federal Emergency
Management Grant reimbursement.
■ Capital grants and contributions have declined as impact fee indexing has decreased amounts
collected for governmental impact fees.
■ In total, expenses in governmental activities decreased by .4%, or $1,938,389.
■ Decreases in expenses occurred in several areas of governmental activity in fiscal year 2011,
with the largest dollar value decrease in public safety, followed closely by economic
environment and culture and recreation. Decreased personnel costs were a major component of
the current year savings.
Business -type Activities
Increases in net assets related to business -type activities amounted to $16,707,376 in the aggregate,
representing a 2.0% increase over the previous year's net assets.
■ The majority of the increase, or $11,170,454, can be attributed to the Collier County Water and
Sewer District. Total operating revenues, including water, wastewater and reuse irrigation user
fees increased $4,793,019, or 4.8 %, over the previous fiscal year primarily due to increased
usage of water, effluent and irrigation water.
■ Fiscal year 2011 water and wastewater impact fee collections were $7,415,367, an increase of
2.2% over fiscal 2010. County Water and Sewer District charges water and wastewater impact
fees on new construction in order to finance growth necessitated capital expansion.
■ Operating expenses increased as the Water and Sewer District's focus has shifted from capital
expansion to comprehensive maintenance and optimization of existing facilities. Fiscal year
2011 personnel services expenses increased by 2.4 %, when compared to fiscal year 2010.
■ Solid waste operating revenues increased by .6% from fiscal year 2010 while operating costs,
including depreciation, increased by 2.3% over the same period. The marginal increase in solid
waste operating revenues can be mainly attributed to a new source of revenue from converting
landfill gas to energy. Operating costs increased primarily due to maintenance costs associated
with the Collier County Landfill. These factors contributed to an increase in solid waste net
assets year on year of $3,626,124.
8
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, Debt
Service Funds and Capital Project Funds.
As of September 30, 2011 Collier County governmental funds reported combined fund balances of
$384,666,827 a decrease of $25,549,600 when compared to prior year combined fund balances. The
governmental funds had non - spendable fund balances of $11,805,199 consisting of inventory, prepaid
items and General Fund advances to other funds. The restricted fund balance was $229,545,519 and
consists of monies whose expenditure is externally constrained by grantors, creditors, binding law or
enabling legislation. Of the remaining $143,316,109 in fund balance, $48,445,097 is classified as
committed, $80,670,049 is recorded as assigned and $14,200,963 is recorded as unassigned.
The following were noteworthy activities and changes relating to the major governmental funds for
fiscal year 2011:
The General Fund is the primary operating fund of Collier County. At September 30, 2011, total fund
balance in the general fund was $67,377,977, of which $54,458,662 was unassigned. As a percentage of
total general fund expenditures and net transfers, the unassigned portion is 19.8%. The total fund
balance decreased by $3,968,634 or 5.6%, compared to the September 30, 2010 total fund balance. The
decrease in total fund balance as a result of decreased property tax collections.
The Government Facilities Impact Fee Fund accounts for the receipt and expenditure of government
facilities impact fees collected from qualifying new construction. The impact fees must be used for the
acquisition or construction of government facilities. During fiscal year 2011 the Government Facilities
Impact Fee Fund spent $71,561 on the Property Appraiser's Radio Road location, $159,242 on the
Courthouse Annex, $109,749 on the Emergency Services Complex and $62,910 on other government
facilities. In addition, the fund made debt service related transfers of $4,176,797, impact refunds of
$154,099 and paid $27,926 of interest on an interfund advance from the Solid Waste Disposal Fund.
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, 2011, total net assets amounted to $859,718,123 for enterprise funds, as compared to
$843,010,747 as of September 30, 2010, an increase of $16.7 million. Net assets change as a result of
operations, non - operating revenues and expenses, capital contributions and grants and donations. The
Collier County Water and Sewer District's activities represent the majority of the increase in the
business -type net assets.
9
For the year ended September 30, 2011 the Water and Sewer District reported capital grants and
contributions of $9,873,756, which includes system development fees of $7,415,367, $2,011,385 in
developer infrastructure contributions and other contributions of $447,004.
Net Operating Income &gol
2011 2010
County Water and Sewer $ 11,200,354 $ 16,396,126
Solid Waste Disposal 5,834,741 6,264,619
Non -major enterprise funds (23,765,216) (21,584,975)
Total $ (6,730,121) $ 1,075,770
The Collier County Water and Sewer Fund net operating income decreased by $5,195,772, when
compared to fiscal year 2010. The decrease in net operating income was the result of an overall
increase in operating costs, including depreciation and amortization, of 11.9 %. The primary reason for
this increase is the ongoing focus on the maintenance of existing utilities infrastructure. County Water
and Sewer payments in lieu of taxes paid to the General Fund of $3,778,100 were reclassified from
operating expense to operating transfers for financial statement purposes. Personal services expense
increased by 2.4 %, when compared to fiscal year 2010, as employer paid health insurance increased by
14.1 %.
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
$2,507,516,295, net of accumulated depreciation. This investment in capital assets, both purchased and
donated, 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 depreciation, decreased by $35,344,985 when compared to the previous
year. There was a decrease in the governmental activities net capital assets of $31,389,214, or 1.9 %.
The proprietary fund capital assets decreased by $3,955,771, or .5% as in both the governmental and
business -type activities, amounts depreciated exceeded amounts capitalized. The major factors behind
these changes are as follows:
• The business -type activities capitalized $26,681,874 of work in process during fiscal year 2011
including $6,925,197 for North County Water Reclamation Facility Upgrades, $3,815,051 for the
Marco Airport Taxiway, $3,631,693 for South Reverse Osmosis Wellfield construction,
$2,034,893 for North County Regional Water Treatment Plant Water Quality Improvements and
$1,724,337 for the North Naples Recycling Center. The remaining $8,550,703 related to
$6,808,413 in other County Water and Sewer projects, $1,155,947 in other Airport projects,
$373,954 in other Solid Waste projects and $212,389 in Mass Transit.
■ Capitalization of construction in progress of $22,459,395 for governmental activity related costs
including $12,210,474 for Oil Well Road construction, $2,184,025 for Lely Area stormwater
improvements and $1,591,409 for Gateway Triangle stormwater improvements. The remaining
10
$6,473,487 related to $3,157,021 in other transportation projects, $2,082,072 in parks and
recreation projects, and $1,234,394 in other capital projects.
■ Purchases of land and non - depreciable assets were $4,764,182 for fiscal year 2011, compared to
$7,858,168 for fiscal year 2010.
Additional information regarding Collier County's capital assets can be found in Note 5 beginning on
page 48 of this report.
Debt Administration
At September 30, 2011, Collier County had total bonded debt, notes and loans, net of premiums,
discounts and deferred losses of $690,962,471, a decrease of $49,462,555 from the previous year. The
following table illustrates the balances of all outstanding long -term debt for the fiscal years ended
September 30, 2011 and 2010:
Outstanding Debt
Limited General Obligation Bonds, net
Revenue Bonds, net
State Revolving Fund Loans
Miscellaneous Notes
Total
2011
$ 14,683,976
559, 847, 386
105,775,919
2010
$ 29,854,422
584, 371, 983
114,640,946
10, 655,190 11, 557, 675
$690,962,471 $ 740,425,026
During fiscal year 2011 Collier County prepaid all of the outstanding Conservation Collier Series 2008
Limited General Obligation Bonds in the amount of $6,919,328, plus a 3% premium.
On November 30, 2010 Collier County issued the Series 2010B Special Obligation Refunding Revenue
Bonds in the par amount of $24,620,000. These bonds were issued for the purpose of advance
refunding all of the County's outstanding Capital Improvement Revenue Bonds, Series 2002. The
refinancing of the Series 2002 Bonds, and their attendant restrictive covenants, caused the required
cash reserve surety replacement relating to the Series 2002, 2003 and 2005 bonds to decrease from
$19,570,777 to $15,717,300, or a $3,853,477 release of internally borrowed funds.
On January 9, 2012 Collier County issued the Series 2011 Special Obligation Refunding Revenue Bonds in
the par amount of $92,295,000. These bonds were issued for the purpose of advance refunding
portions of the County's outstanding Capital Improvement Revenue Refunding Bonds, Series 2003 and
2005. The refinancing of the Series 2003 and 2005 Bonds, and their attendant restrictive covenants,
caused the required cash reserve surety replacement relating to the 2003 and 2005 bonds to further
decrease from $15,717,300 to $10,401,506, or a $5,315,794 release of internally borrowed funds.
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 6 beginning
on page 49 of this report.
11
General Fund Budgetary Highlights
During the current fiscal year, the Board of County Commissioners approved a $3,642,735 increase in
appropriations between the original and the final amended budget. Significant budgetary variances
between the final amended budget and actual results are listed below:
■ $1,464,686 increase in Natural Resources due to re- budgeting of lapsed appropriations from the
previous fiscal year.
■ $1,478,000 increase in the Sheriffs agency related to special detail duties.
■ $792,925 decrease in the Tax Collector's agency to reduce budget to actual expenditures.
■ $460,400 increase in the Clerk's agency for internal audit and data processing equipment.
■ $400,250 increase in Transfers Out to other funds for flood plain analysis.
■ $392,203 increase in Other General Administration due to re- budgeting of lapsed appropriations
from the previous fiscal year.
■ $267,500 decrease in Beach /Water Park Operations personal services to revised revenue
forecasts.
Significant variances between actual results and final budget amounts in the General Fund occurred
during fiscal year 2011. Tax revenues were under budget by $10,075,220 primarily due to the early
payment discount allowed for property taxes. The discount ranges from a maximum 4% to 1 %,
depending on the date of payment. General Fund general government expenditures were under budget
primarily due to $1,019,469 in unspent budget related goods and services contracted for in 2011 that
had not been received as of September 30, 2011 as well as an effort to reduce spending in all
departments. Sheriff's public safety expenditures were a combined $1,875,990 less than anticipated for
fiscal year 2011.
Economic Factors and Year 2012 Budgets and Rates
The following factors were taken into account in preparing the fiscal year 2012 budget:
• A 5.1% average reduction in countywide taxable property values.
• Forecast ad valorem collections at 95.6% of budget.
• Expected increases in sales tax and state shared revenues of 6.3% and 5.0 %, respectively.
• No new or expanded programs and initiatives; all existing programs to be funded at 97% of the
prior year's level.
• Continuation of Board Agency hiring freeze within ad valorem funded operations and exception
replacement hiring within enterprise operations.
• Maintain health care program contributions at 80% employer and 20% employee across all
agencies (Non- Sheriff).
During fiscal year 2011, the General Fund unassigned fund balance decreased by $5,246,578 to
$54,458,662. As of January 24, 2012, $48,297,400 of the fiscal year 2011 unassigned fund balance has
been appropriated as carryforward for fiscal year 2012, with $17,538,716 placed in reserves.
12
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
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.
13
COLLIER COUNTY, FLORIDA
STATEMENT OF NET ASSETS
SEPTEMBER 30, 2011
ASSETS
Current assets:
Cash, cash equivalents and investments
Trade receivables, net
Special assessments receivable
Interest receivable
Unbilled receivables
Due from other governments
Internal balances
Deposits
Inventory for resale
Inventory
Prepaid costs
Restricted assets:
Cash, cash equivalents and investments
Trade receivables, net
Notes receivable
Special assessments receivable
Interest receivable
Due from other governments
Inventory for resale
Total current assets
Noncurrent assets:
Restricted assets:
Cash, cash equivalents and investments
Notes receivable
Special assessments receivable
Notes receivable
Deferred charges
Capital assets:
Land and non - depreciable capital assets
Depreciable capital assets, net
Total noncurrent assets
Total assets
470,352,899 89,683,274 560,036,173 -
1,149,489,630 797,990,492 1,947,480,122 -
1,852,558,136 927,110,392 2,779,668,528 -
2,097,012,366 1,123,332,534 3,220,344,900 309,627
The notes to the financial statements are an integral part of this statement.
14
Primary Government
Governmental
Business -type
Component
Activities
Activities
Total
Units
$ 217,306,687
$ 149,152,275 $
366,458,962
$ 309,627
1,410,078
9,092,882
10,502,960
-
-
69,200
69,200
-
207,590
312,451
520,041
-
-
5,379,173
5,379,173
-
3,585,399
98,130
3,683,529
-
(20,180,857)
20,180,857
-
-
429,181
-
429,181
-
268,891
-
268,891
-
230,724
3,928,564
4,159,288
-
70,405
18,957
89,362
-
12,600,153
3,218,735
15,818,888
-
1,708,123
-
1,708,123
-
1,256,690
1,256,690
-
99,571
99,571
-
252,306
-
252,306
-
7,160,889
4,770,918
11,931,807
-
18,048,400
18,048,400
244,454,230
196,222,142
440,676,372
309,627
216,470,427
37,340,089
253,810,516
-
9,442,993
-
9,442,993
-
34,503
35,680
70,183
-
1,719,607
828,945
2,548,552
-
5,048,077
1,231,912
6,279,989
-
470,352,899 89,683,274 560,036,173 -
1,149,489,630 797,990,492 1,947,480,122 -
1,852,558,136 927,110,392 2,779,668,528 -
2,097,012,366 1,123,332,534 3,220,344,900 309,627
The notes to the financial statements are an integral part of this statement.
14
15
Primary Government
Governmental
Business -type
Component
Activities
Activities
Total
Units
LIABILITIES
Current liabilities:
Accounts payable
$ 13,763,008
$ 9,945,294
$ 23,708,302
$ -
Wages payable
4,290,852
654,120
4,944,972
-
Retainage payable
215,537
904,392
1,119,929
-
Due to other governments
3,958,710
57,105
4,015,815
-
Due to individuals
311,918
403,219
715,137
-
Self- insurance claims payable
5,714,175
-
5,714,175
-
Compensated absences
11,122,459
1,778,047
12,900,506
-
Capital lease obligations
93,005
212,246
305,251
-
Unearned revenue
268,931
-
268,931
-
Interest payable
7,856,393
2,471,770
10,328,163
-
Bonds and loans payable
27,083,449
9,787,165
36,870,614
-
Liabilities payable from restricted assets:
Accounts payable
6,472,525
76,631
6,549,156
-
Wages payable
110,095
-
110,095
-
Retainage payable
1,317,943
356,620
1,674,563
-
Refundable deposits
1,002,515
232,082
1,234,597
-
Notes payable
-
69,190
69,190
-
Due to other governments
1,260
-
1,260
-
Due to individuals
1,656
-
1,656
-
Unearned revenue
3,694,159
252,334
3,946,493
-
Bonds and loans payable
-
2,500,866
2,500,866
-
Total current liabilities
87,278,590
29,701,081
116,979,671
-
Noncurrent liabilities:
Self- insurance claims payable
1,928,324
-
1,928,324
-
Compensated absences
12,504,006
762,021
13,266,027
-
Capital lease obligations
176,054
174,565
350,619
-
Landfill post - closure liability
-
1,823,934
1,823,934
-
Net OPEB obligation
1,578,744
-
1,578,744
-
Bonds and loans payable, net
420,368,991
231,152,810
651,521,801
-
Total noncurrent liabilities
436,556,119
233,913,330
670,469,449
-
Total liabilities
523,834,709
263,614,411
787,449,120
-
NET ASSETS
Invested in capital assets, net of related debt
1,172,121,030
643,776,924
1,815,897,954
-
Restricted for:
Growth related capital expansion
89,702,510
24,057,684
113,760,194
-
Transportation capital projects
52,248,847
-
52,248,847
-
Tourist development
39,262,323
39,262,323
-
Conservation Collier
20,884,680
20,884,680
-
Community redevelopment
16,095,025
16,095,025
-
Grants
13,419,575
13,419,575
-
Debt service
5,529,286
13,644,754
19,174,040
-
Other
16,833,876
-
16,833,876
-
Renewal and replacement
-
300,000
300,000
-
Unrestricted
147,080,505
177,938,761
325,019,266
309,627
Total net assets
$1,573,177,657
$ 859,718,123
$ 2,432,895,780
$ 309,627
15
COLLIER COUNTY, FLORIDA
STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Business -type Activities:
Program Revenues
107,089
Water and Sewer
Fees, Fines and
Operating
Capital
9,637,765
Solid Waste
Charges for
Grants and
Grants and
FUNCTIONS /PROGRAMS
Expenses
Services
Contributions
Contributions
Primary Government:
Mass Transit
10,186,913
1,290,335
4,322,765
Governmental Activities:
Emergency Medical Services
22,657,178
8,979,435
35,026
General government
$ 103,044,550
$ 33,919,227
$ 2,280,592
$ 3,333,551
Public safety
173,286,139
15,553,313
4,803,976
1,040,044
Physical environment
18,344,396
1,125,113
861,815
1,804,427
Transportation
81,383,489
715,011
4,102,137
9,754,735
Economic environment
7,786,770
662,032
4,123,288
-
Human services
13,859,403
508,615
3,039,850
-
Culture and recreation
44,205,089
9,093,424
291,361
3,414,359
Interest and fiscal charges
19,796,828
-
-
Total governmental activities
461,706,664
61,576,735
19,503,019
19,347,116
Business -type Activities:
Industrial Development Authority $
107,089
Water and Sewer
104,332,449
105,858,391
20,072
9,637,765
Solid Waste
27,999,926
33,769,040
-
1,650
Airport Authority
4,458,059
2,938,147
-
4,432,549
Mass Transit
10,186,913
1,290,335
4,322,765
234,616
Emergency Medical Services
22,657,178
8,979,435
35,026
-
Total business -type activities
169,634,525
152,835,348
4,377,863
14,306,580
Total primary government
$ 631,341,189 $
214,412,083 $
23,880,882 $
33,653,696
Component Units:
Industrial Development Authority $
107,089
$ 102,375 $ $ -
Health Facilities Authority
359,906
213,010
Housing Finance Authority
680
2,000 -
Educational Facilities Authority
189
336 -
Total component units $
467,864
$ 317,721 $ $
General revenues:
Property taxes
Gas taxes
Sales taxes
Tourist taxes
Communications services tax
State revenue sharing
Othertaxes
Interest income
Miscellaneous
Transfers, net
Total general revenues and transfers
Change in net assets
Net assets - beginning
Net assets - ending
The notes to the financial statements are an integral part of this statement.
16
Net (Expense) Revenue and Changes in Net Assets
Primary Government
Governmental Business -type Component
Activities Activities Total Units
$ (63,511,180) $
$ (63,511,180) $
(151,888,806)
- (151,888,806)
(14,553,041)
(14,553,041)
(66,811,606)
(66,811,606)
(3,001,450)
(3,001,450)
(10,310,938)
(10,310,938)
(31,405,945)
(31,405,945)
(19,796,828)
(19,796,828)
(361,279,794)
(361,279,794)
11,183, 779 11,183, 779
5,770,764 5,770,764
2,912,637 2,912,637
(4,339,197) (4,339,197)
(13,642,717) (13,642,717)
11885,266 11885,266
(361,279,794) 1,885,266 (359,394,528)
$ (4,714)
(146,896)
1,320
147
(150,143)
261,630,398
261,630,398
18,311,500
18,311,500
-
28,364,419
28,364,419
-
13,883,740
13,883,740
-
5,589,726
5,589,726
-
8,309,841
8,309,841
-
4,565,112
4,565,112
-
3,888,065
1,608,386
5,496,451
338
11,497,626
96,262
11,593,888
-
(13,117,462)
13,117,462
-
-
342,922,965
14,822,110
357,745,075
338
(18,356,829)
16,707,376
(1,649,453)
(149,805)
1,591,534,486
843,010,747
2,434,545,233
459,432
$ 1,573,177,657
$ 859,718,123
$ 2,432,895,780
$ 309,627
17
COLLIER COUNTY, FLORIDA
BALANCE SHEET
GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
ASSETS
Cash, cash equivalents and investments
Receivables:
Interest
Trade, net
Notes
Special assessments
Due from other funds
Due from other governments
Deposits
Inventory for resale
Inventory
Advances to other funds
Prepaid costs
Totalassets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Wages payable
Due to other funds
Due to other governments
Due to individuals
Deferred revenue
Refundable deposits
Retainage payable
Advances from other funds
Total liabilities
Fund balances (deficit):
Nonspendabie
Restricted
Committed
Assigned
Unassigned
Total fund balances (deficit)
Total liabilities and fund balances (deficit)
Government Other Total
General Facilities Governmental Governmental
Fund Impact Fee Funds Funds
$66,656,597 $ 5,975,735 $330,804,948 $403,437,280
63,208
6,756
353,251
423,215
445,103
446
2,218,939
2,664,488
1,719,607
303,651
10,396,032
12,419,290
-
-
134,074
134,074
2,810,686
-
1,912,468
4,723,154
2,264,847
21,235
7,901,428
10,187,510
4,628
-
-
4,628
-
-
18,317,291
18,317,291
132,251
22,277,347
-
132,251
11,647,325
22,597,807
40,017,500
51,664,825
20,995
-
20,995
$85,765,247
$ 6,307,823
$412,055,931
$504,129,001
$ 8,653,461
$ 16,809
$ 10,378,706
$ 19,048,976
3,583,249
-
717,107
4,300,356
1,569,729
2,212,746
3,782,475
3,066,856
891,156
3,958,012
310,087
3,487
313,574
278,140
303,651
14,140,521
14,722,312
925,748
-
76,767
1,002,515
-
-
1,533,480
1,533,480
22,277,347
48,523,127
70,800,474
18,387,270
22,597,807
78,477,097
119,462,174
11,805,199
-
-
11,805,199
-
-
229,545,519
229,545,519
-
-
48,445,097
48,445,097
1,114,116
-
79,555,933
80,670,049
54,458,662
(16,289,984)
(23,967,715)
14,200,963
67,377,977
(16,289,984)
333,578,834
384,666,827
$85,765,247
$ 6,307,823
$412,055,931
$504,129,001
The notes to the financial statements are an integral part of this statement.
18
COLLIER COUNTY, FLORIDA
RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET ASSETS
SEPTEMBER 30, 2011
Differences in amounts reported for governmental activities in the statement of net assets on pages 14 -15:
Fund balances -total governmental funds
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
Construction in progress
Depreciable assets, net of $558,931,908 in accumulated
depreciation
Certain long -term assets are not financial resources and therefore are not reported in the
governmental funds.
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 revenue 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 assets. Balances at September 30, 2011 are:
Accrued interest on bonds
Bonds and notes payable
Capital lease obligations
Compensated absences
Unamortized deferred loss
Unamortized premium
Unamortized discount
Internal service funds are used by the County to charge self- insurance, fleet management and
information technology services to individual funds. The assets and liabilities of the internal
service funds are included in governmental activities in the statement of net assets. Internal
service fund net assets are:
Total net assets - governmental activities
The notes to the financial statements are an integral part of this statement.
19
$ 384,666,827
$ 384,467,144
85,885,755
1,128,235,131 1,598,588,030
5,048,077
10,759,222
$ (7,856,393)
(433,233,544)
(269,059)
(23,105,021)
1,826,733
(16,395,329)
349,700
(478,682,913)
52,798,414
$ 1,573,177,657
COLLIER COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
The notes to the financial statements are an integral part of this statement.
20
Government
Other
Total
General
Facilities
Governmental
Governmental
Fund
Impact Fee
Funds
Funds
Revenues:
Taxes
$209,688,480
$ -
$ 86,951,199
$296,639,679
Licenses, permits and impact fees
295,650
896,578
22,503,037
23,695,265
Intergovernmental
39,332,399
-
35,120,450
74,452,849
Charges for services
17,991,298
9,863,609
27,854,907
Fines and forfeitures
1,185,715
2,696,361
3,882,076
Interest income
886,889
51,831
2,663,379
3,602,099
Special assessments
-
-
2,725,498
2,725,498
Miscellaneous
1,488,347
21,085
9,055,245
10,564,677
Total revenues
270,868,778
969,494
171,578,778
443,417,050
Expenditures:
Current:
General government
55,836,207
413,819
23,249,534
79,499,560
Public safety
138,373,308
83,905
22,433,006
160,890,219
Physical environment
654,367
13,596,776
14,251,143
Transportation
-
50,741,172
50,741,172
Economic environment
810,579
7,030,666
7,841,245
Human services
10,273,973
-
2,800,836
13,074,809
Culture and recreation
15,737,433
20,007,151
35,744,584
Debt service:
Principal
-
-
36,492,892
36,492,892
Interest
-
27,926
20,904,619
20,932,545
Fiscal charges
-
-
434,312
434,312
Capital outlay
3,785,668
59,837
34,880,355
38,725,860
Total expenditures
225,471,535
585,487
232,571,319
458,628,341
Excess (deficiency) of revenues
over (under) expenditures
45,397,243
384,007
(60,992,541)
(15,211,291)
Other financing sources (uses):
Bonds issued
-
-
24,620,000
24,620,000
Premiums on bonds issued
2,050,315
2,050,315
Payment to refunding bond escrow
-
(26,592,659)
(26,592,659)
Sale of capital assets
65,011
5,250
70,261
Insurance proceeds
15,989
368,099
384,088
Transfers in
9,596,990
97,569,898
107,166,888
Transfers out
(59,043,867)
(4,176,797)
(54,816,538)
(118,037,202)
Total other financing sources (uses)
(49,365,877)
(4,176,797)
43,204,365
(10,338,309)
Net change in fund balances
(3,968,634)
(3,792,790)
(17,788,176)
(25,549,600)
Fund balances (deficit) at beginning of year
71,346,611
(12,497,194)
351,367,010
410,216,427
Fund balances (deficit) at end of year
$ 67,377,977
$ (16,289,984)
$ 333,578,834
$ 384,666,827
The notes to the financial statements are an integral part of this statement.
20
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, 2011
Differences in amounts reported for governmental activities in the statement of activities on pages 16 -17:
Net change in fund balances - total governmental funds
$ (25,549,600)
Governmental funds report capital outlays as expenditures. However, in the statement of
activities the cost of those assets is allocated over their estimated useful lives and reported as
depreciation expense.
Capital outlay
$ 38,725,860
Depreciation expense
(67,697,214) (28,971,354)
Donations of capital assets are not financial resources to governmental funds, but receiving
donated assets increases net assets in the statement of net assets.
2,491,525
Capital assets transferred to and from proprietary funds are not recorded in the governmental
funds as there is no flow of current financial resources.
(1,446,753)
In the statement of activities, the 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 assets differs from the change in fund balance by the net book value of assets
disposed.
(1,754,888)
Certain revenues not considered available are not recognized in the governmental funds but
are included in the statement of activities.
(435,802)
Debt proceeds provide current financial resources to governmental funds, but issuing debt
increases long -term liabilities in the statement of net assets.
(24,620,000)
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 assets.
Bond and loan principal payments
$ 36,322,855
Premium on bonds issued
(2,050,315)
Payments to refunding escrow agent
26,592,659
Payments on capital lease obligations
170,037 61,035,236
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.
Increase in compensated absences
$ (1,706,675)
Accrued interest on bonds
495,413
Amortization of deferred charges
(368,756)
Amortization of deferred loss
(267,471)
Amortization of premium
1,346,977
Amortization of discount
(17,934) (518,446)
Certain amounts reported in the statement of activities as deferred are reported as
expenditures in the governmental funds.
381,800
The net revenues of internal service funds are reported with governmental activities.
1,031,453
Change in net assets - governmental activities
$ (18,356,829)
The notes to the financial statements are an integral part of this statement.
21
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, 2011
Expenditures:
Variance with
Current:
Final Budget
General government
Original
Final
Favorable
Board of County Commissioners personal services
Budget
Budget
Actual
(Unfavorable)
Revenues:
96,500
96,500
73,480
23,020
Taxes
$ 219,763,700 $
219,763,700 $
209,688,480 $
(10,075,220)
Licenses, permits and impact fees
183,500
183,500
295,650
112,150
Intergovernmental
33,913,200
33,913,200
39,332,399
5,419,199
Charges for services
18,587,568
19,704,255
17,991,298
(1,712,957)
Fines and forfeitures
1,184,000
1,184,000
1,185,715
1,715
Interest income
857,800
917,800
889,463
(28,337)
Miscellaneous
569,800
482,321
1,488,347
1,006,026
Total revenues
275,059,568
276,148,776
270,871,352
(5,277,424)
Expenditures:
Current:
General government
Board of County Commissioners personal services
1,004,500
1,004,500
975,422
29,078
Board of County Commissioners operating
96,500
96,500
73,480
23,020
County manager administrative personal services
759,200
759,200
690,896
68,304
County manager administrative operating
54,500
54,500
34,834
19,666
Budget and management personal services
744,600
744,600
683,924
60,676
Budget and management operating
114,700
114,700
64,622
50,078
Administrative services personal services
1,841,900
1,841,900
1,723,500
118,400
Administrative services operating
138,500
139,618
126,651
12,967
Administrative services capital outlay
7,500
7,500
-
7,500
Human resources administration personal services
1,275,500
1,275,500
1,190,898
84,602
Human resources administration operating
345,500
345,500
240,549
104,951
Clerk of the Circuit Court personal services
5,604,900
5,296,500
5,247,432
49,068
Clerk of the Circuit Court operating
2,087,900
2,119,800
2,076,753
43,047
Clerk of the Circuit Court capital outlay
116,600
885,400
882,138
3,262
Property Appraiser personal services
5,175,379
4,975,425
4,873,749
101,676
Property Appraiser operating
1,435,635
1,569,018
1,625,187
(56,169)
Property Appraiser capital outlay
50,000
133,171
133,171
Tax Collector personal services
9,592,600
9,095,954
9,095,954
Tax Collector operating
3,054,576
2,758,379
2,758,379
Tax Collector capital outlay
38,371
38,289
38,289
-
County attorney personal services
2,507,500
2,507,500
2,387,601
119,899
County attorney operating
423,200
566,303
226,057
340,246
County attorney capital
-
10,500
10,269
231
Natural resource planning operating
175,000
1,639,686
1,370,464
269,222
Circuit court costs operating
34,700
34,700
14,404
20,296
Courthouse security operating
1,359,200
1,377,352
1,331,917
45,435
Courthouse security capital outlay
20,000
20,000
19,230
770
County court cost operating
22,800
22,800
5,234
17,566
State Attorney operating
280,400
280,400
252,224
28,176
Public Defender operating
179,300
179,300
176,776
2,524
Other general administrative personal services
331,300
331,300
229,615
101,685
Other general administrative operating
677,100
1,069,303
412,998
656,305
Facilities management personal services
3,234,100
3,397,761
3,371,116
26,645
Facilities management operating
7,426,300
7,420,222
7,347,848
72,374
Facilities management capital outlay
91,000
140,000
143,094
(3,094)
22
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, 2011
Sheriff personal services
Sheriff operating
Supervisor of Elections personal services
Supervisor of Elections operating
Supervisor of Elections capital outlay
Real property management personal services
Real property management operating
Total general government
Variance with
Final Budget
Original Final Favorable
Budget Budget Actual (Unfavorable)
3,135,000
3,135,000
3,229,824
(94,824)
127,700
127,700
194,486
(66,786)
1,959,800
1,959,800
1,946,355
13,445
1,149,700
1,124,550
990,874
133,676
12,400
37,550
36,566
984
816,900
827,300
819,606
7,694
52,400
50,150
46,578
3,572
57,554,661
59,515,131
57,098,964
2,416,167
Public safety
Sheriff personal services
Sheriff operating
Sheriff capital outlay
Emergency management administration personal services
Emergency management administration operating
Emergency management administration capital
Helicopter operations personal services
Helicopter operations operating
Helicopter operations capital
Intersection safety personal services
Intersection safety operating
Medical examiner services operating
Total public safety
Physical environment
Conservation and resource management personal service
Conservation and resource management operating
Conservation and resource management capital
Immokalee cemetery operating
Total physical environment
Economic environment
Veterans services personal services
Veterans services operating
Housing and urban improvement operating
Total economic environment
Human services
Health Care Responsibility Act operating
Domestic animal services personal services
Domestic animal services operating
Domestic animal services capital outlay
Health department operating
Mental health operating
Client assistance personal services
Client assistance operating
Public services division office personal services
Public services division office operating
Total human services
111,371,000
112, 849,000
110,955,748
1,893, 252
25,419,300
25,487,300
23,085,864
2,401,436
-
-
2,418,698
(2,418,698)
878,100
845,900
801,640
44,260
625,200
655,825
615,221
40,604
-
-
7,965
(7,965)
620,300
717,500
714,656
2,844
837,100
773,956
699,222
74,734
-
2,176
2,176
-
-
50,000
28,024
21,976
700,000
650,000
413,528
236,472
1,063,200
1,063,200
11059,405
3,795
141,514,200
143,094,857
140,802,147
2,292,710
570,900
596,600
528,986
67,614
147,200
143,900
122,970
20,930
-
3,300
3,300
-
4,600
2,175
2,411
(236)
722,700
745,975
657,667
88,308
247,200
247,200
235,009
12,191
68,500
57,148
27,503
29,645
787,500
787,500
548,067
239,433
1,103,200
1,091,848
810,579
281,269
50,000
50,000
-
50,000
2,011,300
2,011,300
1,876,384
134,916
714,800
699,572
638,294
61,278
5,400
22,400
20,484
1,916
1,666,400
1,666,400
1,854,902
(188,502)
899,300
899,300
1,056,104
(156,804)
451,300
463,300
450,501
12,799
3,732,800
3,738,152
4,116,736
(378,584)
329,700
323,700
265,270
58,430
20,900
20,900
15,782
5,118
9,881,900
91895,024
10,294,457
(399,433)
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, 2011
Beach and water park operations personal services
Beach and water park operations operating
Beach and water park operations capital outlay
Total culture and recreation
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):
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
Reconciliation:
Net change in fund balance, budgetary basis
Net change in fair value of investments
Advances budgeted as transfers
Net change in fund balance, GAAP basis
4,805,200
4,537,700
4,372,421
Variance with
5,232,000
5,107,567
4,883,132
Final Budget
56,000
Original
Final
Favorable
17,164,100
Budget
Budget
Actual (Unfavorable)
Culture and recreation
231,132,324
225,471,535
5,660,789
Library administration personal services
5,230,800
5,231,400
4,944,367 287,033
Library administration operating
1,840,100
1,841,537
1,537,513 304,024
Beach and water park operations personal services
Beach and water park operations operating
Beach and water park operations capital outlay
Total culture and recreation
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):
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
Reconciliation:
Net change in fund balance, budgetary basis
Net change in fair value of investments
Advances budgeted as transfers
Net change in fund balance, GAAP basis
4,805,200
4,537,700
4,372,421
165,279
5,232,000
5,107,567
4,883,132
224,435
56,000
71,285
70,288
997
17,164,100
16,789,489
1518071721
981,768
227,940,761
231,132,324
225,471,535
5,660,789
47,118,807
451016,452
45,399,817
383,365
275,000 275,000 65,011
(209,989)
- 2,796 15,989
13,193
5,152,300 6,209,598 9,596,990
3,387,392
(69,099,407) (69,550,579) (61,373,867)
8.176,712
(63,672,107) (63,063,185) (51,695,877)
11,367,308
(16,553,300) (18,046,733) (6,296,060)
11,750,673
44,818,500 47,039,399 47,039,399
-
$ 28,265,200 $ 28,992,666 $ 40,743,339 $
11,750,673
$ (6,296,060)
(2,574)
2,330,000
$ (3,968,634)
The notes to the financial statements are an integral part of this statement.
24
COLLIER COUNTY, FLORIDA
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
SEPTEMBER 30, 2011
Noncurrent assets:
Restricted assets:
Cash, cash equivalents and investments
37,340,089
Business -type Activities Enterprise Funds
Governmental
County
Activities -
Water
Solid Waste
Other
Internal Service
and Sewer
Disposal
Funds
Total
Funds
ASSETS
Notes
828,945
-
828,945
Current assets:
Deferred charges
1,231,912
-
-
1,231,912
Cash, cash equivalents and investments
$ 123,644,909
$ 22,589,904
$ 2,917,462 $
149,152,275
$ 42,939,987
Receivables:
Land and nondepreciable capital assets
72,438,775
3,503,524
13,740,975
89,683,274
Trade, net
5,182,824
730,116
3,179,942
9,092,882
453,713
Special assessments
69,200
-
-
69,200
-
Interest
191,879
115,090
5,482
312,451
36,681
Unbilled revenue
5,193,114
-
186,059
5,379,173
-
Due from other funds
16,918
77,512
12,058
106,488
780,531
Due from other governments
97,237
-
893
98,130
52,506
Deposits
-
-
-
424,553
Inventory
3,777,781
150,783
3,928,564
604,745
Prepaid costs
18,957
-
-
18,957
49,410
Restricted assets:
Cash, cash equivalents and investments
2,665,409
255,205
298,121
3,218,735
-
Due from other governments
-
-
4,770,918
4,770,918
-
Totai current assets
140,858,228
23,767,827
11,521,718
176,147,773
45,342,126
Noncurrent assets:
Restricted assets:
Cash, cash equivalents and investments
37,340,089
37,340,089
Receivables:
Special assessments
35,680
-
35,680
Advances to other funds
15,717,302
3,418,347
-
19,135,649
-
Notes
828,945
-
828,945
-
Deferred charges
1,231,912
-
-
1,231,912
-
Capital assets:
Land and nondepreciable capital assets
72,438,775
3,503,524
13,740,975
89,683,274
-
Depreciable capital assets, net
757,078,648
17,112,536
23,799,308
797,990,492
21,254,499
Total noncurrent assets
884,671,351
24,034,407
37,540,283
946,246,041
21,254,499
Total assets
1,025,529,579
47,802,234
49,062,001
1,122,393,814
66,596,625
(Continued)
25
LIABILITIES
Current liabilities:
Accounts payable
Wages payable
Retainage payable
Due to other funds
Due to other governments
Due to individuals
Self- insurance claims payable
Compensated absences
Capital lease obligations
Interest payable
Bonds and loans payable
Liabilities payable from restricted assets:
Accounts payable
Retainage payable
Refundable deposits
Unearned revenue
Notes payable
Bonds and loans payable
Total current liabilities
Noncurrent liabilities:
Self- insurance claims payable
Compensated absences
Capital lease obligations
Net OPEB obligation
Landfill post - closure liability
Bonds and loans payable, net
Total noncurrent liabilities
Total liabilities
COLLIER COUNTY, FLORIDA
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
SEPTEMBER 30, 2011
Business -type Activities Enterprise Funds Governmental
Activities -
County Water Solid Waste Other Internal Service
and Sewer Disposal Funds Total Funds
$ 5,127,228 $
1,924,792 $
2,893,274 $
9,945,294 $
1,188,515
348,459
25,259
280,402
654,120
100,591
904,392
-
-
904,392
-
360
153
941,639
942,152
885,546
554
508
56,043
57,105
-
25,903
-
377,316
403,219
-
-
-
-
-
5,714,175
1,157,176
88,895
531,976
1,778,047
365,011
-
-
212,246
212,246
-
2,471,770
-
2,471,770
9,787,165
9,787,165
10,067
-
66,564
76,631
-
106,714
249,906
356,620
37,002
176,849
18,231
232,082
-
78,356
173,978
252,334
69,190
-
-
69,190
2,500,866
-
-
2,500,866 -
22,440,132
2,401,526
51801,575
30,643,233 8,253,838
-
-
-
-
1,928,324
495,933
38,098
227,990
762,021
156,433
-
-
174,565
174,565
-
300,000
-
-
-
1,578,744
-
1,823,934
22,922,616 51704,399
1,823,934
-
231,152,810
_ $ 43,538,676 $ 42,857,871
857,837,251 $ 54,679,286
231,152,810
231,648,743
1,862,032
402,555
233,913,330
3,663,501
254,088,875
4,263,558
6,204,130
264,556,563
11,917,339
NET ASSETS
Invested in capital assets, net of related debt
586,007,392
20,616,060 37,153,472
643,776,924 21,254,499
Restricted for growth related capital expansion
24,057,684
- -
24,057,684 -
Restricted for renewal and replacement
300,000
300,000
Restricted for debt service
13,644,754
- -
13,644,754 -
Unrestricted
147,430,874
22,922,616 51704,399
176,057,889 33,424,787
Total net assets
$ 771,440,704
_ $ 43,538,676 $ 42,857,871
857,837,251 $ 54,679,286
Cumulative consolidation adjustment for internal service fund activities related to enterprise funds
1,880,872
Net assets of Business -type Activities
The notes to the financial statements are an integral part of this statement.
26
$ 859,718,123
COLLIER COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Operating revenues:
Charges for services
Miscellaneous
Total operating revenues
Operating expenses:
Personal services
Operating
Depreciation and amortization
Total operating expenses
Operating income (loss)
Non - operating revenues (expenses):
Operating grants and contributions
Interest income
Insurance reimbursement
Interest expense
Loss on disposal of capital assets
Total non- operating revenues (expenses)
Income (loss) before contributions and transfers
Business -type Activities Enterprise Funds Governmental
County Activities -
Water Solid Waste Other Internal Service
and Sewer Disposal Funds Total Funds
$ 104,782,230 $
33,422,859 $
13,542,493
$ 151,747,582 $
72,572,327
670,264
346,181
71,321
1,087,766
112,859
105,452,494
33,769,040
13,613,814
152,835,348
72,685,186
23,672,927
1,711,265
19,612,937
44,997,129
6,420,024
36,433,622
25,411,280
14,951,818
76,796,720
64,056,436
34,145,591
811,754
21814,275
37,771,620
2,015,239
94,252,140
27,934,299
37,379,030
159,565,469
72,491,699
11,200,354
5,834,741
(23,765,216)
(6,730,121)
193,487
20,072
-
4,357,791
4,377,863
-
1,330,149
231,747
46,490
1,608,386
285,966
27,228
572
68,462
96,262
580,613
(8,845,845)
-
(23,257)
(8,869,102)
-
(385,603)
(26,191)
(11,188)
(422,982)
(5,190)
(7,853,999)
206,128
4,438,298
(3,209,573)
861,389
3,346,355
6,040,869
(19,326,918)
(9,939,694)
1,054,876
Capital grants and contributions
9,873,756
5,100
5,824,872
15,703,728
49,605
Transfers in
2,022,272
42,027
16,275,016
18,339,315
-
Transfers out
(4,071,929)
(2,461,872)
(85,200)
(6,619,001)
(850,000)
Change in net assets
11,170,454
3,626,124
2,687,770
17,484,348
254,481
Net assets - beginning
760,270,250
39,912,552
40,170,101
54,424,805
Net assets - ending
$ 771,440,704
$ 43,538,676
$ 42,857,871
$
54,679,286
Consolidation adjustment for internal service fund
activities related to
enterprise funds
(776,972)
Change in net assets of Business -type Activities
$ 16,707,376
The notes to the financial statements are an integral part of this statement.
27
COLLIER COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Cash flows from operating activities:
Cash received for services
Cash received from other funds for services
Cash received from employees for services
Cash received from other governments for services
Cash received from refundable deposits
Cash received from retirees for services
Cash payments on behalf of retirees
Cash payments for goods and services
Cash payments to employees
Cash payments for interfund services
Cash payments on refundable deposits
Net cash provided by (used for) operating activities
Cash flows from non - capital financing activities:
Cash received from operating grants
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:
System development charges
Special assessment collections
Receipts from insurance reimbursements
Proceeds from disposal of capital assets
Proceeds from capital grants
Payments for capital acquisitions
Principal payments on state revolving loans
Principal payments on bonds
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 provided by investing activities
Net increase (decrease) in cash, cash
equivalents and investments
Business -type Activities Enterprise Funds Governmental
County Activities -
Water Solid Waste Other Internal Service
and Sewer Disposal Funds Total Funds
$105,668,701
$ 33,555,440
$ 14,376,983
$153,601,124
$ -
-
-
-
-
67,144,521
-
572
66,467
-
4,627,305
531
-
14,633
531
418,998
43,000
820,471
2,660,428
863,471
-
-
-
(3,574,174)
-
1,223,462
(6,881,681)
(6,881,681)
(1,067,028)
(30,602,014)
(24,458,987)
(15,098,305)
(70,159,306)
(64,324,109)
(24,388,771)
(1,774,339)
(16,225,225)
(42,388,335)
(6,616,984)
(6,519,339)
(830,129)
(4,089,492)
(11,438,960)
(402,281)
(44,000)
(820,471)
(72)
(864,543)
44,158,108
6,491,985
(21,036,111)
29,613,982
1,003,884
26,442 - 2,852,512 2,878,954 -
4,855,670 6,845,529 21,544,316 33,245,515
(4,071,929) (7,679,266) (4,641,096) (16,392,291) -
810,183 (833,737) 19,755,732 19,732,178
7,653,433
-
7,653,433
520,826
520,826
-
27,228
572
66,467
94,267
538,710
80,605
7,770
14,633
103,008
4,356
211,500
31,398
2,660,428
2,903,326
-
(21,034,611)
(2,482,894)
(3,574,174)
(27,091,679)
(267,436)
(6,881,681)
(6,881,681)
(4,969,157)
-
(4,969,157)
(249,535)
(249,535)
(9,746,786)
-
(23,257)
(9,770,043)
-
(34,138,643)
(2,443,154)
(1,105,438)
(37,687,235)
275,630
1,352,732 233,751 51,286 1,637,769 292,047
1,352,732 233,751 51,286 1,637,769 292,047
12,182,380 3,448,845 (2,334,531) 13,296,694 1,571,561
Cash, cash equivalents and investments, October 1, 2010 151,468,027 19,396,264 5,550,114 176,414,405 41,368,426
Cash, cash equivalents and investments, September 30, 2011 $163,650,407 $ 22,845,109 $ 3,215,58 $ 42,939,987
Current cash, cash equivalents and investments $123,644,909 $ 22,589,904 $ 2,917,462 $149,152,275 $ 42,939,987
Current cash, cash equivalents and investments- restricted 2,665,409 255,205 298,121 3,218,735 -
Noncurrent cash, cash equivalents and investments - restricted 37,340,089 - - 37,340,089 -
Cash, cash equivalents and investments, September 30, 2011 $163,650,407 $ 22,845,109 $ 3,215,583 $ 189,711,099 $ 42,939,987
(Continued)
28
COLLIER COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS (CONTINUED)
RECONCILIATION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Operating income (loss)
Adjustments to reconcile operating income (loss) to
net cash provided by (used for) operating activities:
Depreciation expense
Amortization of bond issuance costs
Amortization of utility acquisition adjustment
Net changes in assets and liabilities:
Trade receivable
Due from other funds
Due from other governments
Deposits
Prepaid costs
Inventory
Prepaid costs
Accounts payable
Wages payable
Due to other funds
Due to other governments
Due to individuals
Compensated absences
Refundable deposits
Unearned revenue
Self- insurance claims payable
Net OPEB obligation
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
Contributed capital assets
Developer contributions
Business -type Activities Enterprise Funds Governmental
County Activities -
Water Solid Waste Other Internal Service
and Sewer Disposal Funds Total Funds
$ 11,200,354 $ 5,834,741 $ (23,765,216) $ (6,730,121) $ 193,487
33,546,878
811,754
2,814,275
37,172,907
2,015,239
538,258
-
-
538,258
-
60,455
-
60,455
244,789
(116,333)
795,572
924,028
(266,130)
26,032
(26,740)
(12,057)
(12,765)
89,466
(59,582)
5,831
(53,751)
(51,455)
-
93,714
(9,877)
(9,877)
-
(348,408)
-
(6,618)
(355,026)
(36,677)
-
(26,368)
(342,231)
159,658
(138,269)
(320,842)
(33,375)
(703,076)
(51,582)
(610,449)
(1,365,107)
(196,170)
(205)
(31,523)
2,050
(29,678)
30,791
531
99
(23,142)
(22,512)
-
17,958
-
(452)
17,506
-
(12,768)
(11,492)
(91,331)
(115,591)
(790)
(1,000)
(72)
(1,072)
-
-
(966,501)
158,653
- (76,597) - (76,597) -
32,957,754 657,244 2,729,105 36,344,103 810,397
$ 44,158,108 $ 6,491,985 $ (21,036,111) $ 29,613,982 $ 1,003,884
$ (9,027) $ (1,367) $ (284) $ (10,678) $ (49,041)
235,991 8,144 1,392,323 1,636,458 49,606
2,011,385 - - 2,011,385 -
The notes to the financial statements are an integral part of this statement.
29
COLLIER COUNTY, FLORIDA
STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES
AGENCY FUNDS
SEPTEMBER 30, 2011
Agency
Funds
ASSETS
Cash, cash equivalents and investments $ 28,405,359
Receivables:
Interest 4,064
Other 23,841
Total assets $ 28,433,264
LIABILITIES
Due to other governments $ 7,621,130
Due to individuals 570,763
Refundable deposits 19,871,237
Due to special assessment holders 370,134
Total liabilities $ 28,433,264
The notes to the financial statements are an integral part of this statement.
30
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
INDEX
NOTE
PAGE NUMBER
1
Summary of Significant Accounting Policies
32
2
Cash, Cash Equivalents and Investments
42
3
Trade Receivables
45
4
Interfund Payables and Receivables
46
5
Capital Assets
48
6
Long -Term Obligations
49
7
Conduit Debt Obligations
56
8
Defeased Debt
57
9
Pension Plan Obligations
58
10
Transfers
59
11
Net Assets /Fund Balances
60
12
Risk Management
63
13
Other Postemployment Benefits
65
14
Landfill Liability
69
15
Significant Contingencies
69
16
Significant Commitments
70
17
Fund Deficits
71
18
Subsequent Events
72
31
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
THE REPORTING ENTITY
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 Supervisor of Elections. The Constitutional Officers are elected county wide. Under
the direction of the Clerk of the Circuit Court, the Collier County 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. 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.
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, impose its will on the
organization, and the existence of a financial benefit /burden relationship or fiscal dependency.
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 financial support has been pledged and financial or operational policies may be
significantly influenced by the County. In accordance with Governmental Accounting Standards Board
(GASB) Statement No. 14, The Financial Reporting Entity (GASB 14), as amended by GASB Statement No.
39, Determining Whether Certain Organizations are Component Units (GASB 39), these organizations are
reported as if they were part of the County's operations.
Collier County Water and Sewer District
The District was established by Chapter 88 -499, as amended by Chapter 03 -353, Laws of
Florida, to provide water, sewer and effluent services to portions of the unincorporated
area of Collier County.
Goodland Water District
The District was established by a Special Referendum Election authorized by Collier County
Ordinance 75 -5 and Section 125.01(q), Florida Statutes. The District provides potable
water service to the residents of Goodland.
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.
K��
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
THE REPORTING ENTITY— CONTINUED
Collier County Airport Authoritv
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 Authority 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 for short-term and long -term 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 Revenue 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 14, as
amended by GASB 39, 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 7, "Conduit Debt Obligations ".
Collier County Health Facilities Authority
The Authority was established in 1979 by Collier County Ordinance 79 -75 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 7, "Conduit Debt Obligations ".
Collier County Industrial Development Authority
The Authority was created in 1978 by Collier County Resolution 78 -94 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 7, "Conduit Debt Obligations ".
33
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED
Collier County Educational Facilities Authoritv
The Authority was created in 1999 by Collier County Resolution 99 -177 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 7, "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.
Administrative Offices
Collier Water and Sewer District
3339 East Tamiami Trail, Suite #214
Naples, Florida 34112
Collier County Airport Authority
2005 Mainsail Drive, Suite #1
Naples, FL 34114
Bayshore Gateway Community Redevelopment
Agency
4069 Bayshore Drive
Naples, Florida 34112
Immokalee Community Redevelopment Agency
310 Alachua Street
Immokalee, Florida 34142
Goodland Water District
3339 East Tamiami Trail, Suite #214
Naples, Florida 34112
Collier County Health Facilities Authority and
Housing Finance Authority
5150 Tamiami Trail North, Suite 502
Naples, FL 34103
Collier County Industrial Development Authority
and Educational Facilities Authority
3050 North Horseshoe Drive, Suite #120
Naples, Florida 34104
Collier County Metropolitan Planning Organization
2885 South Horseshoe Drive
Naples, Florida 34104
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 Assets 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. 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 Assets reports all financial and capital resources
of Collier County's governmental and business -type activities. Net assets equal assets minus liabilities,
and is shown in three categories: invested in capital assets, net of related debt; restricted net assets
and unrestricted net assets. 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.
34
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
GOVERNMENT WIDE AND FUND FINANCIAL STATEMENTS— CONTINUED
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.
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,
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.
Government Facilities Impact Fee Fund — the Government Facilities Impact Fee fund is
used 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.
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.
Collier County also maintains the following nonmajor fund types:
Special Revenue Funds — Special revenue funds are used to account for the
accumulation of resources set aside for a specific purpose.
35
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
BASIS OF PRESENTATION — CONTINUED
Debt Service Funds — Debt service funds are used to account for the accumulation of
resources for the payment of principal, interest and other expenditures on long -term
obligations, other than bonds and notes payable from the operations of business -type
activities.
Capital Proiect Funds — Capital project funds are used to account for the acquisition and
construction of major capital facilities other than those financed by proprietary funds.
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
operates the following Internal Service Funds: Self Insurance, Sheriffs Self Insurance,
Fleet Management and Information Technology.
Agency Funds — Agency funds are custodial in nature and do not report the results of
operations (assets equal liabilities). Agency funds are clearing accounts for assets held
by the government as an agent for individuals, private organizations or other
governments. The Board of County Commissioners, Sheriff, Clerk of the Circuit Court
and Tax Collector all maintain agency funds.
BASIS OF ACCOUNTING AND MEASUREMENT FOCUS
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts
and reported in the financial statements. Basis of accounting relates to the timing of the measurements
made regardless of the measurement focus applied.
The government wide financial statements, as well as the fund financial statements for the proprietary
funds, are reported using the economic resources measurement focus and the accrual basis of accounting.
Revenues are recognized in the period in which they are earned and expenses are recognized in the period
incurred. Grant revenues are recognized when eligibility requirements are met. The intent in proprietary
operations is that the costs of providing goods or services to the general public be financed primarily
through user charges, or where periodic determination of revenues earned, expenses incurred, and /or net
income is deemed appropriate.
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 enterprise
funds and internal service 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.
36
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
BASIS OF ACCOUNTING AND MEASUREMENT FOCUS — CONTINUED
Primary revenues including non -grant intergovernmental revenues, charges for services and interest are
treated as susceptible to accrual under the modified accrual basis. In applying the susceptibility -to- accrual
concept to grant revenues, the legal and contractual requirements of the numerous individual programs
are used as guidance. In addition, grant revenues are considered available if they are expected to be
collected within one year of the end of the current fiscal period.
Property taxes are discussed later in this footnote. Other revenue sources are not considered measurable
and available and are not treated as susceptible to accrual. Expenditures are recorded when the related
fund liability is incurred. Exceptions to this general rule include accrued compensated absences and
principal and interest on long -term debt.
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 earlier than 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.
37
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES— CONTINUED
BUDGETS AND BUDGETARY DATA — CONTINUED
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.
6) The County Manager approves interdepartmental budget changes within the same fund
and division 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 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 funds except for agency funds and the
Impact Fees Escrow special revenue fund. 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 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 Florida Department of Revenue.
Budgets are adopted for all governmental funds 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 expenses and mark to market activity on investments. All
unencumbered appropriations lapse at the end of the current year.
Capital project costs are budgeted in the year they are anticipated to be obligated. In subsequent years,
the unused budget is reappropriated until the project is completed. Proprietary funds are budgeted on
a basis consistent with generally accepted accounting principles, except that capital related and debt
transactions are based upon cash receipts and disbursements. Estimated beginning fund balances are
considered in the budgetary process.
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.
38
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
ACCOUNTS RECEIVABLE — UNBILLED REVENUE
Unbilled charges for services are accrued in the County Water and Sewer, Emergency Medical Services and
Goodland Water funds by prorating subsequent bills.
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 and land. 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.
CAPITAL ASSETS
Land, buildings, improvements and equipment are stated at cost. Capital contributions are recorded at
their fair value on the date donated. Facilities constructed using system development impact fees,
collected from developers and customers, are stated at cost.
The County capitalizes expenditures with a cost of $1,000 or more and with a useful life in excess of one
year. Expenditures for maintenance and repairs are charged to operating expenses. The cost of assets
retired or sold, together with the related accumulated depreciation, is removed from the accounts and any
gain or loss on disposition is credited or charged to earnings.
Depreciation is calculated using the straight -line method. The estimated useful life of the various classes
of depreciable 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
Costs incurred in the renourishment of beaches are included in the infrastructure class of capital assets and
are capitalized and depreciated over three years. Infrastructure acquired prior to fiscal years ended June
30, 1980 is not reported. Effective October 1, 2009 the County adopted the provisions of GASB
Statement No. 51, Accounting and Financial Reporting for Intangible Assets, which establishes
accounting and financial reporting standards for intangible assets.
39
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
CAPITAL LEASE OBLIGATIONS
In the government -wide financial statements and proprietary fund financial statements capital lease
obligations and the related cost of assets acquired are reflected in the Statement of Net Assets. For capital
lease obligations originating in governmental funds, an expenditure for the asset and the offsetting
amount of the financing source is reflected in the fund financial statements in the year of inception.
BOND PREMIUMS, DISCOUNTS AND ISSUANCE COSTS
Bond premiums, discounts and issuance 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. Bond
discounts are presented as a reduction of the face amount of bonds payable, premiums as an increase,
while issuance costs are recorded as deferred charges, which are shown on the face of the Statement of
Net Assets as a component of noncurrent assets. In the governmental fund financials, bond premiums,
discounts and issuance costs are recognized in the current period.
DEFEASANCE OF DEBT
For refundings resulting in the defeasance of debt, generally accepted accounting principles require that
the difference between the reacquisition price and the net carrying amount of the old debt be deferred
and amortized over the shorter of the life of the new debt or the remaining life of the old debt as a
component of interest expense. The straight -line method is used for amortization of the deferred charge.
INTEREST COST
In the proprietary funds, interest costs are expensed or capitalized as required by the interest Topic 835,
Subtopic 20, Section 30 "Amount of Interest to be Capitalized" of the Financial Accounting Standards
Board (FASB) Accounting Standards Codification.
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,
2011 are not significant. Discounts on property taxes are allowed for payments made prior to the April
1st delinquent date as follows: November - 4%, December - 3 %, January - 2 %, and February - 1 %. Tax
certificates for the full amount of any unpaid taxes must be sold not later than June 1st of each year.
No accrual for the property tax levy becoming due in November 2011 is included in the accompanying
financial statements, since such taxes are collected to finance expenditures of the subsequent period.
40
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
PROPERTY TAXES- CONTINUED
Key dates in the property tax cycle for the fiscal year ended September 30, 2011 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
Date
January 1, 2010
July 1, 2010
Within 35 days of the certification of the assessment roll
October 1, 2010
November 1, 2010
By November 30: 4% discount
By December 31: 3% discount
By January 31: 2% discount
By February 28: 1% discount
March 31, 2011
April 1, 2011
Prior to June 1, 2011
APPLICATION OF FASB PRONOUNCEMENTS TO PROPRIETARY FUNDS
In accordance with GASB Statement No. 20, Accounting and Financial Reporting for Proprietary Funds and
Other Governmental Entities That Use Proprietary Fund Accounting, the County has elected not to apply
private sector guidance issued after November 30, 1989.
ACCOUNTING ESTIMATES
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 AND DEFERRED 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. Examples of
unearned revenues of the County as of September 30, 2011 are unspent State Housing Initiative
Partnership (SHIP) monies and cash receipts associated with unspent advance grant agreements.
Deferred revenue liabilities are reported in the governmental funds to offset receivables that do not meet
the availability criterion under the modified accrual basis of accounting. Primary examples of the County's
deferred revenues are amounts associated with SHIP loans made to qualifying organizations and deferred
impact fee agreements made with developers and individuals.
41
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — CONTINUED
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 Sheriffs policy allows for a percentage of unused
sick leave payout based upon years of service, not to exceed 1,000 hours, and up to 500 hours of unused
vacation time. Both the Clerk of the Circuit Court's and Tax Collector's policies allow for a percentage of
unused sick leave payout based upon years of service, 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.
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.
IMPLEMENTATION OF NEW GASB PRONOUNCEMENTS
The County implemented GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type
Definitions during the fiscal year ended September 30, 2011. This GASB statement clarifies governmental
fund balance classifications and fund type definitions. The basis for the division of fund balances is the
level of constraint limiting the use of the resources reported in the governmental funds. GASB Statement
No. 54 became effective for financial statement periods beginning after June 15, 2010. Further
information can be found in Note 11 beginning on page 60.
NOTE 2 — CASH. CASH EQUIVALENTS AND INVESTMENTS
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, Cash Equivalents 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.
42
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS - CONTINUED
As of September 30, 2011, the County had the following cash, cash equivalents and investments:
Investment
Maturities
Fair Value
Call Date
Call Frequency
Rating
Cash on hand
N/A
$ 93,518
N/A
N/A
N/A
Demand deposits
N/A
131,370,360
N/A
N/A
N/A
State Board of Administration Pool:
Pool A
N/A
718,262
N/A
N/A
AAAm
Pool
N/A
16,165
N/A
N/A
N/A
Certificate of Deposit
10/7/2011
50,000,000
none
N/A
AA+
United States Treasury Note
3/31/2012
10,044,100
none
N/A
AA+
Fannie Mae
6/22/2012
25,176,000
none
N/A
AA+
Federal Home Loan Bank
8/17/2012
50,007,500
11/4/2011
continuous
AA+
Federal Home Loan Bank
9/12/2012
25,006,000
12/1/2011
continuous
AA+
Federal Home Loan Bank
9/21/2012
50,000,500
10/6/2011
continuous
AA+
United States Treasury Note
12/31/2012
50,263,500
none
N/A
AA+
Fannie Mae
9/20/2013
50,272,500
9/20/2012
once
AA+
Freddie Mac
1/28/2014
25,011,500
10/28/2011
continuous
AA+
Federal Home Loan Bank
5/8/2014
21,510,320
11/8/2011
continuous
AA+
Freddie Mac - Multi Step Coupon
8/15/2014
50,013,000
11/15/2011
continuous
AA+
Fannie Mae
8/15/2014
50,060,500
2/15/2012
continuous
AA+
Fannie Mae
8/22/2014
25,033,500
2/22/2012
continuous
AA+
Fannie Mae - Multi Step Coupon
9/16/2014
49,896,500
3/16/2012
continuous
AA+
Total
$ 664,493,725
* Standard and Poor's rating
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 practices are governed by Florida Statutes, Chapter 218 and the County's
Investment Policy.
The County's Investment Policy limits credit risk by restricting authorized investments to the Florida Local
Government Surplus Trust Fund (SBA), 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 the market 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. The SBA is an investment pool
administered by the State Board of Administration, under the regulatory oversight of the State of Florida.
The SBA operates two pools, Florida PRIME and Fund B Surplus Trust Fund (Fund B), with the Fund B
carrying a AAAm rating from Standard & Poor's.
43
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 2 — CASH. CASH EQUIVALENTS AND INVESTMENTS— CONTINUED
CREDIT RISK — CONTINUED
At September 30, 2011, the Sheriff had $734,427 invested in the State Board of Administration's Local
Government Surplus Funds Trust Fund Investment Pool. Of this amount, $718,262 is invested in the
Florida PRIME and $16,165 in Fund B. The Florida PRIME investment is fully liquid and carries a
weighted average days to maturity of 38.3 days. Fund B is accounted for as a fluctuating net asset value
pool and the fair value factor for September 30, 2011 was .75684. Fund B has a weighted average life of
4.82 years. Fund B cash holdings continue to be distributed to participants as they become available
from maturities, sales and income received.
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 market 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 200% 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
The 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. At September 30, 2011, the
County had demand deposits of $131,370,360. These demand deposits do not include discretely
presented component unit deposits of $309,627. All balances in excess of the Federal Depository
Insurance Corporation insurance for demand deposits are fully collateralized by the multiple financial
institutions' collateral pool in accordance with Florida Statutes Section 280.
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.
CONCENTRATION OF CREDIT RISK
The County's investment policy establishes limitations on portfolio composition in order to control
credit risk. The policy allows 100 percent of the portfolio to be invested in U.S. Government Securities,
Agencies and Instrumentalities (excluding mortgage securities), 50 percent to be invested in SBA, 30
percent to be invested in certificates of deposit, 20 percent to be invested in qualifying repurchase
agreements and 10 percent each in the categories of fixed income mutual funds, domestic bankers'
acceptances, prime commercial paper and tax - exempt obligations.
44
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 2 — CASH, CASH EQUIVALENTS AND INVESTMENTS — CONTINUED
The portion of the County's portfolio invested in U.S. Government Instrumentalities is detailed as
follows, at September 30, 2011:
Percent of
Issuer Portfolio
Federal Home Loan Bank 22.05%
Federal Home Loan Mortgage Corporation 11.29%
Federal National Mortgage Association 30.16%
Total U.S. Government Instrumentalities 63.50%
Reconciliation of cash, cash equivalents and investments to the basic financial statements:
Primary government:
Cash, cash equivalents and investments $ 366,458,962
Restricted cash, cash equivalents and investments - current 15,818,888
Restricted cash, cash equivalents and investments - noncurrent 253,810,516
Agencyfunds:
Cash, cash equivalents and investments 28,405,359
Total $ 664,493,725
NOTE 3 - TRADE RECEIVABLES
Trade receivables for Governmental and Business -type Activities are net of an allowance for doubtful
accounts as follows:
General Fund
Government Facilities Impact Fee
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
Nonmajor Enterprise Funds
Total Business -type Activities trade receivables
Trade Allowance for Net Trade
Receivables Doubtful Accounts Receivables
$ 537,155 $ 92,052 $ 445,103
446 - 446
3,009,627 790,688 2,218,939
3,547,228 882,740 2,664,488
464,580
10,867
453,713
$ 4,011,808 $
893,607
$ 3,118,201
$ 5,545,645 $
362,821
$ 5,182,824
730,116
-
730,116
3,197,316
17,374
3,179,942
$ 9,473,077 $
380,195
$ 9,092,882
45
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 3 - TRADE RECEIVABLES — CONTINUED
The County has multi and single - family home rehabilitation and homeownership programs funded
under the Community Development Block Grant (CDBG), HOME Investment Partnership Loan Program
(HOME), Disaster Recovery Initiative (DRI), Neighborhood Stabilization Program (NSP) and the State
Housing Initiative Partnership Program (SHIP). The programs are generally repaid when the respective
properties are transferred or sold. If the property is transferred or sold before the end of the loan
period, the proceeds from the repayment including interest, if any, are then returned to the program.
If the homeowners remain in their homes for the full term of the deferred loan, the loan is forgiven. 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.
NOTE 4 - INTERFUND PAYABLES AND RECEIVABLES
ADVANCES
Advances to and advances from other funds at September 30, 2011 were as follows:
Governmental Activities:
General Fund
Government Facilities Impact Fees Fund
Other governmental funds:
Community Development Fund
Capital Improvement Revenue Bonds Fund
Parks Improvement Fund
County -Wide Capital Improvements Fund
County -Wide Library Impact Fees Fund
Correctional Facilities Impact Fees Fund
Emergency Medical Services Impact Fees Fund
Law Enforcement Impact Fees Fund
Total Governmental Activities
Business -type Activities:
County Water and Sewer
Solid Waste Disposal
Total Business -type Activities
Total Advances
Advance Advance
To From
$ 11,647,325 $
22,277,347
1,150,000
15,717,302
1,150,000
38,867,500
9,715,125
4,218,800
2,333,900
15,388,000
51,664,825 70,800,474
15,717,302 -
3,418,347 -
19,135,649 -
$ 70,800,474 $ 70,800,474
Advances are made to funds for the purposes of capital improvements and the funding of certain surety
requirements. Reimbursements will take place over the next several years as funds are available.
46
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 4 - 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, 2011 were as follows:
Governmental Activities:
General Fund
Other Governmental Funds:
Road Districts
Community Redevelopment
Unincorporated Area MSTD
Community Development
Water Management and Pollution Control
Grants and Shared Revenues
Improvement Districts
Fire Control Districts
Lighting Districts
911 Enhancement Fee
Tourist Development
State Housing Initiative Partnership
State Court Administration
Conservation Collier
Other Special Revenue Funds
Gas Tax Revenue Bonds
Stormwater Improvement Assessment Bonds
Limited General Obligation Conservation Collier Bonds
Forest Lakes Limited General Obligation Bonds
Parks Improvements
Water Management
Parks Impact Districts
Road Impact Districts
Road Construction
Other Capital Projects
Total other governmental funds
Business -type Activities:
County Water and Sewer
Solid Waste
Other Business -type funds:
Emergency Medical Services
Airport Authority
Collier Area Transit
Total other business -type funds
Internal Service Funds
Total All Funds
11b
Due From Due To
$ 2,810,686 $1,569,729
-
20
79,673
18,178
321,712
16,495
-
527
40,666
-
118,346
1,820,834
34,762
42
28,842
-
7,359
-
-
294,500
109,738
1,322
20,312
-
15,213
-
65,901
69
-
37,884
-
13,137
924
-
83,647
5,718
-
34,140
6,993
2,453
2,125
529
-
-
56
941,593
-
qan
SFa
1,91Z,4b8 Z,Z1Z,74b
16,918
77,512
14
12,044
12,058
780,531
$ 5,610,173
360
153
47
941,592
941,639
885,546
$ 5,610,173
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 5 — CAPITAL ASSETS
A summary of capital asset activity for the year ended September 30, 2011 is as follows:
October 1, Deductions/ September 30,
2010 Additions Reclassifications 2011
Governmental Activities:
Capital assets not depreciated:
Land and other non - depreciable assets $ 378,046,623 $ 3,954,275 $ 2,466,246 $ 384,467,144
Construction in progress 72,961,872 22,459,395 (9,535,512) 85,885,755
Total capital assets not depreciated 451,008,495 26,413,670 (7,069,266) 470,352,899
Capital assets depreciated:
Buildings
Infrastructure
Improvements other than buildings
Machinery and equipment
Total capital assets depreciated
Less accumulated depreciation:
Buildings
Infrastructure
Improvements other than buildings
Machinery and equipment
Total accumulated depreciation
Total depreciable capital assets, net
Total Governmental Activities
capital assets, net
434,415,832
243,457
(414,589)
434,244,700
895,629,713
5,407,526
76,569
901,113,808
217,837,490
848,109
(6,509,657)
212,175,942
164,243,040
9,875,567
(7,891,302)
166,227,305
1,712,126,075
16,374,659
(14,738,979)
1,713,761,755
95,676,205
13,805,896
(96,929)
109,385,172
229,632,996
29,416,624
(158,839)
258,890,781
66,319,228
11,436,819
(7,630,746)
70,125,301
120,274,398
15,053,114
(9,456,641)
125,870,871
511,902,827
69,712,453
(17,343,155)
564,272,125
1,200,223,248 (53,337,794) 2,604,176 1,149,489,630
$ 1,651,231;743 $ (26,924,124) $ (4,465,090) $ 1,619,842,529
Business -type Activities:
Capital assets not depreciated:
Land and other non - depreciable assets $ 24,300,821 $ 809,907 $ 621 $ 25,111,349
Construction in progress 66,259,912 26,681,874 (28,369,861) 64,571,925
Total capital assets not depreciated 90,560,733 27,491,781 (28,369,240) 89,683,274
Capital assets depreciated:
Buildings
Improvements other than buildings
Machinery and equipment
Total capital assets depreciated
Less accumulated depreciation:
Buildings
Improvements other than buildings
Machinery and equipment
Total accumulated depreciation
Total depreciable capital assets, net
Total Business -type Activities
capital assets, net
136,622,197
192,110
2,095,913
138,910,220
959,402,456
2,697,728
23,623,575
985,723,759
30,594,830
3,349,731
(81,794)
33,862,767
1,126,619,483
6,239,569
25,637,694
1,158,496,746
63,455,719
3,582,067
(4,671)
67,033,115
242,326,348
30,307,299
(1,817)
272,631,830
19,768,612
3,283,541
(2,210,844)
20,841,309
325,550,679
37,172,907
(2,217,332)
360,506,254
801,068,804
(30,933,338)
27,855,026
797,990,492
$ 891,629,537 $ (3,441,557) $ (514,214) $ 887,673,766
48
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 5 - CAPITAL ASSETS - CONTINUED
Schedule of depreciation for fiscal year 2011:
General Government
$
8,697,512
Public Safety
13,789,114
Physical Environment
4,458,085
Transportation
31,484,421
Economic Environment
28,807
Human Services
760,595
Culture and Recreation
8,478,680
Subtotal
67,697,214
Internal Service Funds
2,015,239
Total Governmental Activities
$
69,712,453
Water and Sewer
$
33,603,207
Solid Waste
811,754
EMS
Additions
737,284
Airport Authority
Amortized, net
848,605
Mass Transit
one year
1,172,057
Total Business -type Activities
$
37,172,907
NOTE 6 - LONG -TERM OBLIGATIONS
SUMMARY OF CHANGES IN LONG -TERM OBLIGATIONS
The following is a summary of changes in long -term obligations for the year ended September 30, 2011:
49
000's Omitted
Premium or
October 1,
Discount /Loss
September 30,
Due within
2010
Additions
Reductions
Amortized, net
2011
one year
Governmental Activities:
Bonds and Loans Payable
$
470,136
$
24,620
$
(61,522)
$ -
$
433,234
$
27,083
Premium /Discount, net
15,186
2,188
-
(1,329)
16,045
-
Deferred Loss
(188)
(1,906)
-
267
(1,827)
-
Capital Lease Obligations
439
-
(170)
-
269
93
Self- Insurance Claims
8,609
-
(967)
-
7,642
5,714
Net OPEB Obligation
1,484
1,752
(1,657)
-
1,579
-
Compensated Absences
21,921
8,719
(7,014)
-
23,626
11,122
Total
$
517,587
$
35,373
$
(71,330)
$ (1,062)
$
480,568
$
44,012
Business -type Activities:
Bonds and Loans Payable
$
255,420
$
-
$
(11,957)
$ -
$
243,463
$
12,288
Premium
4,446
-
(293)
4,153
-
Deferred Loss
(4,647)
-
-
472
(4,175)
-
Notes Payable
72
-
(3)
-
69
69
Capital Lease Obligations
636
-
(249)
387
212
Landfill Closure Liability
1,901
-
(77)
-
1,824
-
Compensated Absences
2,656
2,022
(2,138)
-
2,540
1,778
Total
$
260,484
$
2,022
$
(14,424)
$ 179
$
248,261
$
14,347
49
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT - CONTINUED
DESCRIPTIONS OF BONDS LOANS AND NOTES PAYABLE
Bonds, loans and notes payable at September 30, 2011 were composed of the following:
Governmental Activities Limited General Obligation Bonds
$32,815,000 2005A Limited General Obligation Bonds, Conservation Collier Program, due in
annual installments of $3,285,000 to $4,805,000 through January 1, 2013; interest at 3.00% to
5.00 %. $ 9,380,000
$6,215,000 2007 Limited General Obligation Bonds, Forest Lakes Roadway and Drainage
Municipal Service Taxing Unit, due in installments of $300,000 to $540,000 through January 1,
2022; interest at 3.75% to 4.25 %. 4,900,000
Total Governmental Activities Limited General Obligation Bonds $ 14,280,000
Governmental Activities Revenue Bonds
$49,360,000 2003 Capital Improvement and Refunding Revenue Bonds due in annual
installments of $1,130,000 to $2,570,000 through October 1, 2033; interest at 2.00% to 4.75 %.
$167,200,000 2005 Capital Improvement and Refunding Revenue Bonds due in annual
installments of $2,035,000 to $7,240,000 through October 1, 2035; interest at 2.25% to 5.00 %.
$102,125,000 2003 Gas Tax Revenue Bonds, due in annual installments of $1,495,000 to
$6,865,000 through June 1, 2023; interest at 2.00% to 5.25 %.
$96,255,000 2005 Gas Tax Revenue Bonds, due in annual installments of $445,000 to
$13,985,000 through June 1, 2025; interest at 3.00% to 5.00 %.
$59,895,000 2010 Special Obligation Revenue Bonds, due in annual installments of $1,545,000
to $3,860,000 through July 1, 2034; interest at 3.00% to 4.50 %.
$24,620,000 2010B Special Obligation Revenue Bonds, due in annual installments of
$1,830,000 to $2,630,000 through October 1, 2021; interest at 3.00% to 5.00 %.
Total Governmental Activities Revenue Bonds
35,505,000
137,820,000
53,615,000
92,130,000
58,350,000
24,620,000
$ 402,040,000
Governmental Activities Loans and Notes Payable
$12,000,000 Florida Department of Transportation State Infrastructure Bank Loan, due in
annual installments of $1,839,148 to $4,414,096 through October 1, 2012; interest at 2.00 %. $ 6,327,544
$13,500,000 Bayshore Gateway Community Redevelopment Agency Taxable Note, due
September 1, 2014; monthly variable interest rate of 30 -Day LIBOR plus 3.75 %.
Total Governmental Activities Loans and Notes Payable
Total Governmental Activities Obligations
50
10,586,000
16,913,544
$ 433,233,544
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT - CONTINUED
DESCRIPTIONS OF BONDS LOANS AND NOTES PAYABLE — CONTINUED
Unamortized Bond Premium
Deferred loss on Bond Refunding
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
$33,630,000 20038 County Water and Sewer Refunding Revenue Bonds due in annual
installments of $1,410,000 to $4,125,000 through July 1, 2021; interest at 4.25% to 5.50 %.
$110,165,000 2006 Collier County Water and Sewer Revenue Bonds due in annual
installments of $2,310,000 to $8,695,000, commencing July 1, 2017 through July 1, 2036;
interest at 4.00% to 5.00 %.
16,395,329
(1,826,733)
447,452,440
(27,083,449)
$ 420,368,991
25,260,000
110,165,000
$11,727,489 2009 Collier County Water and Sewer Revenue Bonds due in annual installments
of $1,569,324 to $1,817,005, commencing July 1, 2010 through July 1, 2016; interest at 2.97 %. 8,589,008
Total Business -type Activities Revenue Bonds
Business -Type Activities Loans and Notes Payable
$166,580 County Water and Sewer District agreement with private developer payable through
$ 144,014,008
use of sewer system development fee credits. Non - interest bearing agreement. $
69,190
$14,547,667 County Water and Sewer District State Revolving Fund Loan, interest payable at
4.25% payable in 20 annual payments commencing October 1, 1992.
1,017,592
$13,292,898 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.65% payable in 40 semiannual payments commencing January 15, 1999.
5,619,199
$22,238,677 County Water and Sewer District State Revolving Fund Loan, interest payable at
3.05% payable in 40 semiannual payments commencing November 15, 2001.
12,521,935
$5,160,675 County Water and Sewer District State Revolving Fund Loan, interest payable at
3.05% payable in 40 semiannual payments commencing October 15, 2004.
3,696,726
$6,560,956 County Water and Sewer District State Revolving Fund Loan, interest payable at
3.05% payable in 40 semiannual payments commencing January 15, 2005.
4,696,614
$29,224,004 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.95% payable in 40 semiannual payments commencing June 15, 2006. $
22,805,130
51
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT - CONTINUED
DESCRIPTIONS OF BONDS LOANS AND NOTES PAYABLE — CONTINUED
$5,445,223 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.92% payable in 40 semiannual payments commencing December 15, 2005.
4,148,056
$5,188,500 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.74% payable in 40 semiannual payments commencing November 15, 2007.
3,433,393
$7,123,496 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.75% and 2.64% payable in 40 semiannual payments commencing April 15, 2008.
4,717,559
$17,577,022 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.64% and 2.79% payable in 40 semiannual payments commencing August 15, 2008.
15,352,731
$11,637,070 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.64% and 2.79% payable in 40 semiannual payments commencing October 15, 2009.
10,920,381
$3,294,890 County Water and Sewer District State Revolving Fund Loan, interest payable at
2.79% payable in 40 semiannual payments commencing December 15, 2009.
2,654,643
Total Business -type Activities Loans and Notes Payable $
99,517,564
Total Business -type Activities Obligations
Unamortized Bond Premium
Deferred Loss on Bond Refunding
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
52
$ 243,531,572
4,153,097
(4,174,638)
$ 243,510,031
(9,787,165)
(2,570,056)
$ 231,152,810
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT - CONTINUED
SUMMARY OF DEBT SERVICE REQUIREMENTS TO MATURITY
The total annual debt service requirements to maturity of long -term debt, excluding compensated
absences, capitalized leases, premiums, discounts and arbitrage rebate liability, are as follows:
Governmental Activities
Fiscal
Year
Limited General
Obligation Bonds
Revenue Bonds
Loans and
Notes Payable
Totals
Principal
Interest
Principal
Interest
Principal Interest
Principal
2012
$ 4,940,000 $
546,994
$ 19,330,000
$ 18,378,666
$ 900,000 $ 699,343
$ 44,795,003
2013
5,185,000
298,525
19,350,000
17,548,428
900,000 637,476
43,919,429
2014
390,000
163,475
17,485,000
16,744,133
8,786,000 575,608
44,144,216
2015
410,000
147,475
17,685,000
15,942,336
- -
34,184,811
2016
425,000
130,775
18,525,000
15,094,892
- -
34,175,667
2017 -21
2,390,000
374,700
106,215,000
61,748,714
- -
170,728,414
2022 -26
540,000
11,475
107,445,000
34,873,288
- -
142,869,763
2027 -31
-
-
48,455,000
17,289,016
- -
65,744,016
2032 -36
-
-
47,550,000
5,181,170
- -
52,731,170
Totals
$ 14,280,000 $
1,673,419
$ 402,040,000
$ 202,800,643
$ 10,586,000 $ 1,912,427
$ 633,292,489
Business -type Activities
Fiscal
Loans and
Year
Revenue Bonds
Notes Payable
Totals
Principal
Interest
Principal
Interest
2012
$ 5,188,936
$ 6,494,196
$ 7,168,285 $
2,812,095
$ 21,663,512
2013
5,422,044
6,267,614
6,256,273
2,593,262
20,539,193
2014
5,630,093
6,058,578
6,437,162
2,412,373
20,538,206
2015
5,885,930
5,792,443
6,623,299
2,226,235
20,527,907
2016
3,942,005
5,533,892
6,814,836
2,034,697
18,325,430
2017 -21
20,360,000
25,056,139
34,396,584
7,191,648
87,004,371
2022 -26
25,410,000
20,004,687
26,610,139
2,645,290
74,670,116
2027 -31
32,235,000
13,183,362
5,210,986
195,912
50,825,260
2032 -36
39,940,000
5,470,653
-
-
45,410,653
Totals
$ 144,014,008
$ 93,861,564
$ 99,517,564 $
22,111,512
$ 359,504,648
LEGAL DEBT MARGIN
The Constitution of the State of Florida and the Florida Statutes set no legal debt limit.
RESTRICTIVE COVENANTS
According to the official statements and County resolutions authorizing the issuance of the Series 2003
and 2005 Capital Improvement Revenue and Refunding Revenue Bonds, as well as the Series 2003 and
2005 Gas Tax Revenue Bonds, the issues are payable from and secured by liens on the local government
half -cent sales tax and gas tax revenues, respectively.
53
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT— CONTINUED
RESTRICTIVE COVENANTS - CONTINUED
During fiscal year 2008 insurer ratings were downgraded on the Series 2002, 2003 and 2005 Capital
Improvement and Refunding Revenue Bonds. The covenants related to these issues require that in the
event of a downgrade below "A ", by either Moody's or Standard and Poor's, the County must fund a
cash reserve to replace the surety within twelve months. By September 30, 2009 Collier County was
required to fund the reserve in the amount of $19,570,777. The County used internal loans from the
County Water and Sewer fund to achieve the required reserve funding. A subsequent refinancing of
the Series 2002 Capital Improvement Revenue Bonds decreased the cash reserve requirement. See
Note 8, Defeased Debt for more information. The current reserve requirement of $15,717,300 is
funded as of September 30, 2011. Interest earned on the reserve is assigned to the funds from which
the advances were made and the reserve amount is included in non - current restricted cash, cash
equivalents and investments in the Statement of Net Assets. All required principal and interest
payments have been made in a timely manner on the Capital Improvement and Revenue Refunding
Bonds.
During fiscal year 2011, Collier County issued the Series 2010B Special Obligation Revenue Bonds.
According to the official statements and County resolutions authorizing the issuance of these bonds, 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 the
principal and interest on the Series 2010B Bonds.
Tax increment revenues and a covenant to budget and appropriate from all legally available CRA non -ad
valorem revenues is pledged for the repayment of the Bayshore Gateway Community Redevelopment
Agency's taxable note. The average of actual receipts and cash carried forward from the previous year
must cover annual debt service requirements by 125%. The agency was in compliance with this
covenant for the year ended September 30, 2011.
Water and sewer revenue bonds are payable solely from and secured by a first lien upon and pledge of
the net revenues and certain other fees and charges derived from operation of the County's water and
sewer system. The pledge of net revenues derived by the County from the operation of the system
does not constitute a lien upon the system or any other property of the County. The covenants of the
resolutions authorizing the County Water and Sewer District Bonds, Series 2009, Series 2006 and 2003B
include an obligation for the County to fix, establish and maintain such rates and collect such fees,
rentals or other charges for the services and facilities of the water and sewer system, and to revise the
same whenever necessary, so as to provide in each year net revenues, as defined in the resolutions
authorizing the revenue bonds, which together with system development fees and special assessment
proceeds received shall be adequate to pay at least 125% of the annual debt service requirements for
the Water and Sewer Bonds; provided, however, that net revenues in each fiscal year shall be adequate
to pay at least 100% of the annual debt service for the bonds. In addition, bond covenants require a
renewal and replacement amount equal to $300,000 to be set aside in the County Water and Sewer
District Funds. The water and sewer funds were in compliance with these covenants for the year ended
September 30, 2011.
54
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT — CONTINUED
RESTRICTIVE COVENANTS - CONTINUED
The Collier County Water and Sewer District has several State Revolving Fund loans outstanding with
the Florida Department of Environmental Protection. These loans are 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 shall be subordinate in all respects to liens placed upon
pledged revenues established by bonded indebtedness. The County Water and Sewer District shall
maintain rates and charges for services which together with system development fees sufficient to pay
115% of the annual debt service requirements on the loans, as well as satisfy the coverage
requirements of all senior debt obligations. The County Water and Sewer District State Revolving funds
were in compliance with these covenants for the year ended September 30, 2011.
INTEREST CAPITALIZED
Interest costs on the long -term debt of business -type activities, including capitalized leases, incurred
and capitalized during the year ended September 30, 2011 were as follows:
Total Interest Interest Cost Net Interest
Cost Incurred Capitalized Expense
Business -type Activities $ 9,226,492 $ 357,390 $ 8,869,102
Interest expense is shown as a direct expense of the Business -type Activities.
LEASE OBLIGATIONS
Capitalized leases payable at September 30, 2011 amounted to $655,870. These obligations, which are
collateralized by equipment and vehicles, have total annual installments ranging from $35,231 to
$329,825 including interest ranging from 4.26% to 7.21% and mature through 2015. As of year end,
equipment leased under capital leases in the Governmental Activities had a historical cost of $1,341,358
and accumulated depreciation of $1,341,358. Equipment leased under capital leases in the Business -
type Activities had a historical cost of $1,061,529 and accumulated depreciation of $511,864.
Future minimum capital lease obligations as of September 30, 2011 were as follows:
lail
Governmental
Business -type
Activities
Activities
Total
2012
$ 104,821
$ 225,004 $
329,825
2013
77,920
140,406
218,326
2014
77,920
41,575
119,495
2015
35,231
-
35,231
Total minimum lease payments
295,892
406,985
702,877
Less amount representing interest
(26,833)
(20,174)
(47,007)
Present value of minimum
lease payments
$ 269,059
$ 386,811 $
655,870
lail
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 6 - LONG -TERM DEBT — CONTINUED
LEASE OBLIGATIONS — CONTINUED
The County also leases office space, office equipment and storage space under operating leases. These
leases expire or are cancellable within the next fiscal year. In the normal course of operations these
leases will be renewed or replaced by other leases. Total rental expenditures for all operating leases
within the governmental activities for the year ended September 30, 2011 were $896,918. Total rental
expenditures for all operating leases within business -type activities governmental activities for the year
ended September 30, 2011 were $188,172.
NOTE 7 - 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 issuer, 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, 2011 the outstanding principal amount payable on all component unit conduit debt
was $271,017,446 and is made up of the following:
Industrial development revenue bonds
$ 71,912,446
Housing finance revenue bonds
46,070,000
Health facilities revenue bonds
82,350,000
Educational facilities revenue bonds
70,685,000
Total $ 271,017,446
56
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 8 - DEFEASED DEBT
The County has defeased certain outstanding bonds by placing the proceeds of new bonds in
irrevocable trusts to provide for all future debt service payments on the defeased debt. Accordingly,
the trust accounts and the defeased bonds are not included in the County's financial statements.
At September 30, 2011 the following issues were considered defeased:
Original Debt Defeased Bonds
Governmental Activities Defeased Outstanding
1986 Capital Improvement Program Revenue Bonds, $ 12,245,000 $ 3,065,000
Sub- Series 5 Mode A
2002 Capital Improvement Revenue Bonds 25,200,000 25,200,000
2003 Capital Improvement and Refunding Revenue Bonds 4,360,000 3,960,000
Total Governmental Activities Defeased Debt $ 41,805,000 $ 32,225,000
Original Debt Defeased Bonds
Business -type Activities Defeased Outstanding
1983 County Water and Sewer District Refunding Bonds $ 22,000,000 $ 1,915,000
On November 30, 2010 Collier County issued the Series 2010B Special Obligation Refunding Revenue
Bonds in the par amount of $24,620,000. These bonds were issued for the purpose of advance
refunding all of the County's outstanding Capital Improvement Revenue Bonds, Series 2002. The final
maturity of the bonds is October 1, 2021, with interest rates of 3.00% to 5.00 %. The refunding achieved
a net present value savings of 5.41% on the refunded bonds. The refinancing of the Series 2002 Bonds,
and their attendant restrictive covenants, caused the required cash reserve surety replacement relating
to the Series 2002, 2003 and 2005 bonds to decrease from $19,570,777 to $15,717,300, or $3,853,477.
The advance refunding achieved an aggregate debt service savings of $1,915,405 and an economic gain
of $1,654,796. The Series 2002 bonds have a redemption date of October 1, 2011.
On April 29, 2011 Collier County prepaid the remaining outstanding principal balance of the Series 2008
Conservation Collier Bond of $6,919,328, plus a 3.00% prepayment premium, and achieved an aggregate
debt service savings of $131,725. The Series 2008 bonds had an original maturity of January 1, 2013.
57
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 9 — PENSION PLAN OBLIGATIONS
RETIREMENT PLAN
Substantially all full time and part time employees of the County are eligible to participate in the State of
Florida Retirement System (the System), a cost sharing, multiple employer program administered by the
State of Florida, Division of Retirement. The System provides two retirement plans from which eligible
employees can choose: the Pension Plan (defined benefit) and the Investment Plan (defined contribution).
The County follows the provisions of GASB 27, Accounting for Pensions by State and Local Governmental
Employers, as described in the following disclosure.
PLAN DESCRIPTION
Employees hired prior to July 1, 2011 participating in the Pension Plan who retire at or after age 62 with
6 years of credited service for regular risk or with 30 years of service regardless of age, are entitled to a
retirement benefit, payable monthly for life, equal to 1.6% for regular employees, 2.0% for senior
management, and 3.0% for county elected officials of their final average compensation for each year of
credited service; and for special risk, after age 55 with 6 years or with 25 years of service regardless of
age, are entitled to a retirement benefit payable monthly for life, up to 3.0% for each year of credited
service times their final average compensation. Final average compensation is the employee's average
of the five highest years of salary earned during credited service. Vested employees may retire before
age 62 for regular risk and 55 for special risk and receive retirement benefits that are reduced 5.0% for
each year prior to normal retirement age.
Employees hired on July 1, 2011 or later participating in the Pension Plan who retire at or after age 65
with 8 years of credited service for regular risk or with 33 years of service regardless of age, are entitled
to a retirement benefit, payable monthly for life, equal to 1.6% for regular employees, 2.0% for senior
management, and 3.0% for county elected officials of their final average compensation for each year of
credited service; and for special risk, after age 60 with 8 years or with 30 years of service and age 57 or
after 30 years of special risk service regardless of age, or after 33 years of any creditable service are
entitled to a retirement benefit payable monthly for life. Vested employees may retire before age 65
for regular risk and 60 for special risk and receive retirement benefits that are reduced 5.0% for each
year prior to normal retirement age.
Employees participating in the investment plan are vested after one year of service with no age
requirement. The System also provides death and disability benefits. Benefits are established by
Chapter 121, Florida Statutes and Chapter 228, Florida Administrative Code. The Florida Legislature has
sole authority to amend benefit provisions.
The Deferred Retirement Option Program (DROP) is a program that provides an alternative method for
payment of retirement benefits for a specified and limited period for members of the System, effective
July 1, 1998. Under this program, the employee may retire and have their benefits accumulate in the
Florida Retirement System Trust Fund, earning interest, while continuing to work for a System
employer. Employees enrolled in DROP prior to July 1, 2011 earn interest on accumulated benefits in
the Trust Fund at 6.5 %; those enrolling on or after July 1, 2011 earn interest at 1.30%. The act of
participating in the program does not change the individual employee's employment conditions.
58
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 9 — PENSION PLAN OBLIGATIONS — CONTINUED
When the DROP period ends, a maximum of 60 months, employment must be terminated. At the time of
termination of employment, the employee will receive payment of the accumulated DROP benefits, and
begin receiving their monthly retirement benefit (in the same amount determined at retirement, plus
annual cost -of- living increases).
The System publishes an annual report that provides ten -year historical trend information regarding
progress made in accumulating sufficient assets to pay benefits when due. The report may be obtained by
writing the Division of Retirement, Research, Education and Policy Section, 1317 Winewood Boulevard,
Tallahassee, Florida 32315 -9000, or by calling (866) 738 -2366, or accessing their internet site at
www.dms.mvflorida.com.
FUNDING POLICY
The County is required to contribute at an actuarially determined rate. Rates from October 1, 2010
through June 30, 2011 were 23.25% for special risk, 18.64% for county elected officials, 14.57% for senior
management, 10.77% for regular employees and 12.25% for DROP employees based on covered payroll.
The current rates, effective July 1, 2011, are 14.10% for special risk, 11.14% for county elected officials,
6.27% for senior management, 4.91% for regular employees and 4.42% for DROP employees based on
covered payroll. In addition, as of July 1, 2011, employee contributions of 3.00% are required of all
Pension Plan and Investment Plan members, except for those in DROP.
The contributions of the County are established by the State Legislature and therefore subject to
amendment. The County's contributions to the System for the years ending September 30, 2011, 2010
and 2009 are represented in the table below. The County's contributions were equal to the required
contributions for each year.
General Fund
Nonmajor Governmental Funds
County Water and Sewer
Solid Waste
Nonmajor Enterprise Funds
Internal Service Funds
Totals
NOTE 10 —TRANSFERS
FY -2011 FY -2010 FY -2009
$ 16,291,406 $
18,869,604 $
18,878,678
3,763,954
7,058,236
4,697,215
1,502,003
1,640,191
1,574,521
110,698
119,386
113,447
2,405,063
2,637,057
2,570,903
431,678
487,388
217,901
$ 24,504,802 $
30,811,862 $
28,052,665
Transfers between funds move unrestricted revenues collected in the General Fund to finance
operating and capital programs accounted for in other funds in accordance with budgetary
authorizations and to move receipts restricted to debt service from the funds collecting the receipts to
the debt service fund as payments become due.
59
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 10 — TRANSFERS — CONTINUED
Transfers for the year ended September 30, 2011 were as follows:
Transfers from Fund
Transfers to Fund
Amount
Governmental Activities:
General Fund
581,166
General Fund
Nonmajor Governmental Funds
$ 44,781,911
Nonmajor Business -type
County Water and Sewer
4,266
Solid Waste Disposal
42,027
Business -type Activities:
Nonmajor Business -type
14,215,663
Government Facilities Impact Fee
Nonmajor Governmental Funds
4,176,797
Nonmajor Governmental Funds
General Fund
4,093,895
Nonmajor Governmental Funds
48,608,190
County Water and Sewer
55,100
Nonmajor Business -type
2,059,353
Business -type Activities:
County Water and Sewer
General Fund
4,071,929
Solid Waste Disposal
General Fund
581,166
County Water and Sewer
1,880,706
Nonmajor Business -type
Nonmajor Governmental Funds
3,000
County Water and Sewer
82,200
Business -type Activities:
Internal Service Funds
General Fund
850,000
Totals
$ 125,506,203
NOTE 11— NET ASSETS /FUND BALANCE CLASSIFICATION
Net assets represent the difference between total assets and liabilities and are categorized as follows:
Invested in capital assets, net of related debt: Total capital assets, net of debt issued in
the acquisition of these assets and net of depreciation is reported separately in the net
assets section.
Restricted for growth related capital expansion: Impact fee and system development
charges restricted for growth related capital expansion.
Restricted for transportation capital projects: Gas taxes and other revenues restricted
for transportation capital improvements.
Restricted for tourist development: Tourist development tax proceeds are restricted
for tourist related activities.
Restricted for Conservation Collier: One quarter mill of ad valorem revenues restricted
for the purchase of environmentally sensitive land.
Restricted for Grants: State and federal government grant monies restricted for grant
related purposes.
60
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 11— NET ASSETS /FUND BALANCE CLASSIFICATION
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 renewal and replacement: Balance is restricted in conjunction with the
issuance of County Water and Sewer District Bonds. The use of monies in the renewal
and replacement fund is restricted to funding the cost of additions, replacement or
major repair of water and wastewater capital assets.
Unrestricted: Balances are not restricted for specific purposes.
Governmental funds report fund balances as either spendable or non - spendable. Spendable fund
balances are further classified as restricted, committed, assigned or unassigned depending upon the
extent to which there are external or internal constraints on the spending of these fund balances.
Non - spendable fund balance: Amounts that are not in spendable form or that are legally or
contracturally required to be maintained intact. Items that are not spendable also include inventories,
prepaid amounts and long term portions of loans and notes receivable, as well as property held for
resale.
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. Commitments may be modified or removed only by the Board of
County Commissioners through the same formal action 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 amount are available the County spends the restricted amounts
first, unless prohibited by law, grant agreements or other contractural 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.
61
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 11— NET ASSETS /FUND BALANCE CLASSIFICATION - CONTINUED
A detailed schedule of fund balances at September 30, 2011 is as follows:
Government Other Total
General Facilities Governmental Governmental
Fund Impact Fee Funds Funds
Nonspendable:
Special districts -
Advances
$ 11,647,325 $
- $ - $
11,647,325
Inventory
132,251
- -
132,251
Prepaids /deposits
25,623
- -
25,623
Total nonspendable fund balance
11,805,199
- -
11,805,199
Restricted for:
Total committed fund balance -
- 48,445,097
48,445,097
Community redevelopment
-
- 16,156,520
16,156,520
Federal and state grants
-
- 12,202,157
12,202,157
Bond covenants or debt service
-
- 5,985,773
5,985,773
Growth related capital expansion
-
- 66,843,919
66,843,919
Transportation capital projects
-
- 53,189,876
53,189,876
Tourist development
-
- 39,370,739
39,370,739
Conservation Collier
-
- 20,950,512
20,950,512
Emergency 911
-
- 3,424,610
3,424,610
Public safety
-
- 4,124,838
4,124,838
Court functions
-
- 3,657,764
3,657,764
Public Records Modernization
-
- 3,622,745
3,622,745
Other purposes
-
- 16,066
16,066
Total restricted fund balance
-
- 229,545,519
229,545,519
Committed for:
Special districts -
- 35,811,389
35,811,389
Community development -
- 5,120,520
5,120,520
Natural resource management -
- 2,885,756
2,885,756
Utility regulation -
- 721,997
721,997
Libraries -
- 608,159
608,159
Other purposes -
- 3,297,276
3,297,276
Total committed fund balance -
- 48,445,097
48,445,097
Assigned for:
Transportation operations
- -
2,275,972
2,275,972
Parks and recreation
- -
14,695,768
14,695,768
General buildings and improvements
- -
48,768,382
48,768,382
Water management
- -
10,115,960
10,115,960
Libraries
- -
425,060
425,060
Court functions
- -
343,683
343,683
Federal and state grants
81,160 -
-
81,160
Other purposes
1,032,956 -
2,931,108
3,964,064
Total assigned fund balance
1,114,116 -
79,555,933
80,670,049
Unassigned:
54,458,662 (16,289,984)
(23,967,715)
14,200,963
Total Fund Balances
$ 67,377,977 $ (16,289,984) $
333,578,834 $
384,666,827
62
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 12 - 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
(5% Named Storm)
$200,000
$275,000
$500,000
Excess Carrier's Coverage
$50,000 - $125,000,000
$200,000 - $1,000,000
$275,000 - Unlimited
$500,000 - 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, 2011 the operating departments were charged $33,481,410 for
workers' compensation, health and property and casualty self - insurance programs.
The claims loss reserve for workers' compensation, health and property and casualty of $5,391,499
reported at September 30, 2011 was calculated by third party actuaries based upon GASB Statement
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 3.5%. 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 $3,463,175 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: $3,100,000 for any claim
involving a single individual, $3,200,000 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 $350,000 of every claim. Re-
insurance is provided through a third party insurer for all claims exceeding $350,000 up to $10,000,000.
63
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 12 - RISK MANAGEMENT - CONTINUED
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 up to $1,000,000. 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 $2,251,000 reported at September 30, 2011 was calculated by third
party actuaries based upon GASB Statement 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.
CHANGES IN SELF - INSURANCE CLAIMS PAYABLE
Changes in the self - insurance claims payable for fiscal years 2010 and 2011 were as follows for the
County and Sheriff self- insurance programs:
Balance at September 30, 2009
Current year claims incurred and
changes in estimates
Claim payments
Balance at September 30, 2010
Current year claims incurred and
changes in estimates
Claim payments
Balance at September 30, 2011
Property and Group Workers'
Casualty Health Compensation Total
$ 2,031,000 $ 5,274,000 $ 2,024,000 $ 9,329,000
303,958 43,710,123 318,880 44,332,961
(955,958) (43,583,123) (513,880) (45,052,961)
1,379,000 5,401,000 1,829,000 8,609,000
846,772 43,216,238 (703,435) 43,359,575
(700,920) (43,076,238) (548,918) (44,326,076)
$ 1,524,852 $ 5,541,000 $ 576,647 $ 7,642,499
64
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 13 — OTHER POSTEMPLOYMENT BENEFITS
Plan Description - The Board and the Tax Collector administer a single - employer defined benefit plan
(OPEB Plan) and can amend the benefit provisions. The Board offers an OPEB Plan that subsidizes the cost
of health care 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 County, 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 six retirees.
The Tax Collector offers an OPEB plan that subsidizes 100% 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. Additionally, in accordance with Florida Statute 112.0801, County 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 plan does
not issue a publicly available financial report.
In 2011 Board employees meeting certain eligibility requirements were offered access to a Voluntary
Separation Incentive Program (VSIP). The requirements for eligibility were that the employee had to be
eligible to retire without penalty under FRS. Eligible employees had three options under VSIP.
Option 1: Medical and dental coverage for a period of three years, with employee enrollment in the
plans as of the date the election is made. If the employee has waived coverage, the employee will be
enrolled in the $500 deductible medical plan and basic dental plan at the single coverage level. The
Board will cover costs including both the employer and employee portions of the medical and dental
premiums during the coverage period.
Option 2: Employee receives a cash incentive in lieu of three years of medical and dental benefits. The
employee will receive a cash payment equivalent to 50% of the average value of three years' medical
and dental plan premiums, less applicable payroll taxes.
Option 3: Employee receives medical and dental benefits until they reach age 65 with a cash incentive
for remaining months under the plan. The employee is enrolled in the plans as of the date the election
is made. If the employee has waived coverage, the employee will be enrolled in the $500 deductible
medical plan and basic dental plan at the single coverage level. The Board will cover costs including
both the employer and employee portions of the medical and dental premiums during the coverage
period. As of the first of the month following the date when an employee reaches age 65, the
employee will be entitled to receive a one -time cash payment equivalent to 50% of the average
monthly value of the medical and dental plan premiums, less applicable payroll taxes, for the remaining
months in which the employee is eligible to participate under the plan.
The cash incentive payments offered under the Voluntary Separation Incentive Program are considered
pension benefits and are not included in the calculation of the OBEP liability.
65
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 13 — OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
At September 30, 2011, the date of the latest actuarial valuation, County plan participation consisted
of:
OPEB plan participants 2,054
Retirees receiving benefits 122
Funding Policy - The County has the authority to establish and amend funding policy. For the year ended
September 30, 2011, the County contributed $508,627 to the OPEB Plan. No trust or agency fund has
been established for the plan.
Annual OPEB Cost and Net OPEB Obligation - The annual cost of the County's OPEB Plan is calculated
based on the Annual Required Contribution (ARC), an amount actuarially determined in accordance with
the parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an
ongoing basis, is projected to cover the normal cost each year and amortize any unfunded actuarial
liability over a period not to exceed 30 years. The following table shows the components of the
County's annual OPEB Plan cost for the year, the amount actually contributed, and the changes in the
net OPEB Plan obligation.
Annual required contribution (ARC)
Interest on net OPEB obligation
Adjustment to ARC
Annual OPEB cost
Contributions made
Increase (decrease) in net OPEB obligation
Net OPEB obligation - beginning of year
Net OPEB obligation - end of year
Fiscal Year Fiscal Year Fiscal Year
2011 2010 2009
$ 662,704 $ 661,962 $ 661,962
10,651 10,651 6,839
(17,585) (17,585) (11,293)
655,770 655,028 657,508
(508,627)
(719,310)
(658,599)
147,143
(64,282)
(1,091)
290,738
355,020
356,111
$ 437,881
$ 290,738
$ 355,020
Funded Status and Funding Progress - The contributions made for the 2011 fiscal year were 78% of the
annual OPEB cost. As of the September 30, 2010 actuarial valuation date the OPEB Plan was 0.0%
funded and the actuarial accrued liability for benefits was $5,825,874, and the actuarial value of plan
assets was $0, resulting in an unfunded actuarial accrued liability (UAAL) of $5,825,874. As of the
September 30, 2011 actuarial valuation date the OPEB Plan was 0.0% funded and the actuarial accrued
liability for benefits was $6,564,292, and the actuarial value of plan assets was $0, resulting in a UAAL of
$6,564,292. The covered payroll (annual payroll of active employees covered by the OPEB Plan) was
$155.4 million, and the ratio of the UAAL to the covered payroll was 4.2 %.
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.
66
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 13 — OTHER POSTEMPLOYMENT BENEFITS - CONTINUED
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 and assumptions are:
Actuarial cost method
Amortization method
Amortization period
Investment rate of return
Discount rate
Healthcare cost trend rate
Projected Unit Credit Actuarial Cost
Level Dollar Amount
30 years, Closed
3%
3%
8% for the 2012 fiscal year grading to an
ultimate rate of 5% for the 2018 fiscal year
Plan Description - The Sheriff administers a single - employer defined benefit plan (OPEB Plan) and can
amend the benefit provisions. The Sheriff offers an OPEB Plan that subsidizes the cost of health care 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. The Sheriff subsidizes approximately 20% for
single coverage and 21% for family coverage for qualifying individuals. 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 Sheriffs health insurance plan at the
same group rate as for active employees. The plan does not issue a publicly available financial report.
At September 30, 2011, the date of the latest actuarial valuation, Sheriff plan participation consisted of:
OPEB plan participants 1,188
Retirees receiving benefits 99
Fundine Policy - The Sheriff has the authority to establish and amend funding policy. For the year ended
September 30, 2011, the Sheriff contributed $1,084,368 to the OPEB Plan. No trust or agency fund has
been established for the plan.
Annual OPEB Cost and Net OPEB Obligation - The annual cost of the Sheriff's OPEB Plan is calculated
based on the Annual Required Contribution (ARC), an amount actuarially determined in accordance with
the parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an
ongoing basis, is projected to cover the normal cost each year and amortize any unfunded actuarial
liability over a period not to exceed 30 years. The following table shows the components of the Sheriff's
annual OPEB Plan cost for the year, the amount actually contributed, and the changes in the net OPEB
Plan obligation.
67
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 13 — OTHER POSTEMPLOYMENT BENEFITS — CONTINUED
Annual required contribution (ARC)
Interest on net OPEB obligation
Adjustment to ARC
Annual OPEB cost
Contributions made
Increase in net OPEB obligation
Net OPEB obligation - beginning of year
Net OPEB obligation - end of year
Fiscal Year Fiscal Year Fiscal Year
2011 2010 2009
$ 1,117,938 $ 1,108,742 $ 1,363,461
33,881 30,794 16,496
(55,941) (50,844) (27,236)
1,095,878 1,088,692 1,352,721
(1,084,368) (985,790) (876,138)
11,510 102,902 476,583
1,129,353 1,026,451 549,868
$ 1,140,863 $ 1,129,353 $ 1,026,451
Funded Status and Funding Progress - The contributions made for the 2011 fiscal year were 91% of the
annual OPEB cost. As of the September 30, 2010 actuarial valuation date, the OPEB Plan was 0.0%
funded, the actuarial accrued liability for benefits was $12,148,033, and the actuarial value of assets
was $0, resulting in an unfunded actuarial accrued liability (UAAL) of $12,148,033. As of the September
30, 2011 actuarial valuation date, the OPEB Plan was 0.0% funded, the actuarial accrued liability for
benefits was $12,018,242, and the actuarial value of assets was $0, resulting in a UAAL of $12,018,242.
The covered payroll (annual payroll of active employees covered by the OPEB Plan) was $114.2 million,
and the ratio of the UAAL to the covered payroll was 10.5 %.
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 and assumptions are:
Actuarial cost method
Amortization method
Amortization period
Investment rate of return
Discount rate
Healthcare cost trend rate
Projected Unit Credit Actuarial Cost
Level Dollar Amount
30 years, Closed
3%
3%
10% for the 2011 fiscal year grading to an
ultimate rate of 5% for the 2021 fiscal year
68
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 14 — LANDFILL LIABILITY
On May 1, 1995 the County entered into a landfill operating agreement with a third party for the
privatization of the County's landfill operations. Under the contract, the third party is responsible for
the daily operations, capital improvements, 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 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 assets. The landfill liability will be
reassessed on an annual basis, and any increase due to inflation, changes in technology or additional
postclosure care requirements will be recorded as a current cost. The County has funded an escrow
account with Fifth Third Bank in the amount of $11,532, as of September 30, 2011, to comply with Rule
62- 701.630, Florida Administrative Code for the inactive Eustis Avenue Landfill site. These funds bear
interest and are restricted for the exclusive use of the Eustis Avenue Landfill site's long -term care.
There were no deposits, other than interest, or withdrawals from this account in fiscal year 2011.
NOTE 15 - 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.
During fiscal year 2010, the Collier County Water -Sewer District recorded an impairment of the value of
its South Reverse Osmosis Raw Water Wellfield due to the failure of a raw water transmission pipeline.
The pipeline was less than one year into its service life at the time of the failure. On November 19,
2010, the Water -Sewer District, through outside counsel, filed suit against the project's contractor and
surety. Damages sought by the Water -Sewer District in this action are currently estimated at
$9,000,000.
Pending litigation involving the Clerk of the Circuit Court and the Board of County Commissioners
regarding the role of the Clerk of the Circuit Court as County Auditor ended on November 10, 2010
when the Florida Supreme Court dismissed the request for review of the appeals court decision filed by
the Board of County Commissioners.
69
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 15 - SIGNIFICANT CONTINGENCIES — CONTINUED
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.
Subsequent to the end of the fiscal year, the Clerk's office became aware of an inquiry being conducted
by one of the grantor agencies. The impact to the financial statements, if any, is unknown and
therefore unable to be calculated at this time.
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 rebate liability as of September 30, 2011.
NOTE 16 - SIGNIFICANT COMMITMENTS
Collier County has active construction projects as of September 30, 2011. The projects include road
construction, governmental facilities and utilities improvements. At year end the County's
commitments with contractors includes the following:
Business -type Activities:
Water and Sewer Utilities 14,826,587
Solid Waste Disposal Landfill 1,106,686
Other Enterprise Funds Mass Transit 1,375,955
Airports 3,627,099
Total $ 60,292,951
70
Construction
Category
Commitments
Governmental Activities:
General Fund General Government
$ 164,604
Other Governmental Funds General Government
1,215,860
Public Safety
1,518,565
Physical Environment
1,774,331
Transportation
32,147,041
Culture and Recreation
2,536,223
Business -type Activities:
Water and Sewer Utilities 14,826,587
Solid Waste Disposal Landfill 1,106,686
Other Enterprise Funds Mass Transit 1,375,955
Airports 3,627,099
Total $ 60,292,951
70
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 16 - SIGNIFICANT COMMITMENTS - CONTINUED
Encumbrances represent commitments for future expenditures, based on purchase orders or contracts
issued, where the goods or services have been order but not received. Encumbrance commitments do
not include construction contracts, as they are included as contract commitments. Collier County has
the following encumbrances as of September 30, 2011:
Business -type Activities:
Water and Sewer
Utilities
Encumbrance
Solid Waste Disposal
Category
Commitments
Governmental Activities:
Emergency Medical Services
16,420
General Fund
General Government
$ 854,865
Total
Public Safety
2,414
Human Services
4,380
Internal Service Funds
Culture and Recreation
6,693
Government Facilities Impact Fee
General Government
21,276
Public Safety
5,980
Other Governmental Funds
General Government
873,020
Public Services
613,836
Physical Environment
1,321,426
Transportation
3,419,475
Economic Environment
5,545,083
Human Services
1,476,434
Culture and Recreation
888,721
Business -type Activities:
Water and Sewer
Utilities
4,460,705
Solid Waste Disposal
Landfill
956,534
Other Enterprise Funds
Emergency Medical Services
16,420
(1,844,875)
Goodland Water
9,300
Total
Airport Authority
49,983
Collier Area Transit
36,967
Internal Service Funds
Risk Management
934,793
Total
$ 21,498,305
NOTE 17 — FUND DEFICITS
The following funds had fund balance deficits at September 30, 2011:
Fund
Amount
Government Facilities Impact Fee
$ (16,289,984)
County -Wide Library Impact Fee
(7,068,976)
Correctional Facilities Impact Fee
(2,254,910)
Emergency Medical Service Impact Fee
(1,844,875)
Law Enforcement Impact Fee
(12,798,954)
Total
$ (40,257,699)
The fund balance deficits are primarily the result of advances from other funds made prior to
September 30, 2011. These advances were recorded to ensure repayment of non - impact fee monies
loaned to the impact fee fund for the construction of growth necessitated facilities. County
management anticipates that the deficits will be covered by future years' impact fee revenues.
71
COLLIER COUNTY, FLORIDA
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2011
NOTE 18 — SUBSEQUENT EVENTS
BOND REFINANCING
On January 9, 2012 Collier County issued the Series 2011 Special Obligation Refunding Revenue Bonds in
the par amount of $92,295,000. These bonds were issued for the purpose of advance refunding
portions of the County's outstanding Capital Improvement and Refunding Revenue Bonds, Series 2003
and 2005. The final maturity of the Series 2011 bonds is October 1, 2029, with interest rates of 2.50%
to 5.00%. The advanced refunding achieved a net present value savings of 5.05% on the refunded
bonds and an aggregate debt service savings of $8,971,452. The refinancing of the Series 2003 and
2005 Bonds, and their attendant restrictive covenants, caused the required cash reserve surety
replacement relating to the Series 2003 and 2005 bonds to decrease from $15,717,300 to $10,401,506,
or $5,315,794. The Series 2003 and 2005 bonds have redemption dates of October 1, 2013 and
October 1, 2014, respectively.
UTILITY BILLING
Subsequent to fiscal year end, management became aware of certain County Water and Sewer meter
discrepancies. The discrepancies are primarily related to a series of two inch water meters that may be
reading incorrectly. These issues were discovered during a consultant's comprehensive review of
County Water and Sewer District billing processes and current estimates are that 300 meters, out of a
population of approximately 56,000, may be subject to reading high or low to actual usage. Meters
found to be under and over reading are being replaced immediately and potential product liability
issues are being analyzed. The consultant and staffs review is ongoing and is expected to be completed
during fiscal year 2012.
72
REQUIRED SUPPLEMENTARY
INFORMATION
REQUIRED SUPPLEMENTAL INFORMATION
COLLIER COUNTY, FLORIDA
OTHER POSTEMPLOYMENT BENEFITS
SCHEDULE OF FUNDING PROGRESS
FOR THE RETIREE HEALTH PLAN
(Non - Sheriff)
Sheriff
10/1/2008
Actuarial
9,354,088
0.0%
128,182,544
7.3%
Sheriff
10/1/2009
Accrued
14,171,709
0.0%
123,296,677
UAAL as a
Sheriff
Actuarial Actuarial
Liability (AAL) -
12,148,033
0.0%
117,879,632
Percentage of
Sheriff
Valuation Value of
Unit Credit
Unfunded
Funded
Covered
Covered
Agency
Date Assets
Actuarial Cost
AAL (UAAL)
Ratio
Payroll
Payroll
Board and Constitutionals
10/1/2008
3,769,254
3,769,254
0.0%
173,538,752
2.2%
(Non - Sheriff)
Board and Constitutionals
10/1/2009
5,814,470
5,814,470
0.0%
164,923,591
3.5%
(Non - Sheriff)
Board and Constitutionals
10/1/2010 -
5,825,874
5,825,874
0.0%
159,321,900
3.7%
(Non - Sheriff)
Board and Constitutionals
10/1/2011
6,564,292
6,564,292
0.0%
155,365,190
4.2%
(Non - Sheriff)
Sheriff
10/1/2008
9,354,088
9,354,088
0.0%
128,182,544
7.3%
Sheriff
10/1/2009
14,171,709
14,171,709
0.0%
123,296,677
11.5%
Sheriff
10/1/2010
12,148,033
12,148,033
0.0%
117,879,632
10.3%
Sheriff
10/1/2011
12,018,242
12,018,242
0.0%
114,185,572
10.5%
74
COMBINING AND INDIVIDUAL
FUND FINANCIAL STATEMENTS
THIS PAGE INTENTIONALLY LEFT BLANK
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.
COMMUNITY REDEVELOPMENT AGENCY — To account for the activities of the Immokalee Community
Redevelopment Agency and the Bayshore- Gateway Triangle Community Redevelopment Agency.
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.
GRANTS AND SHARED REVENUES — To account for the revenues received from federal, state and local grants.
IMPROVEMENT DISTRICTS — To account for taxes levied within municipal service taxing districts to provide for
specified improvements and /or the maintenance of such improvements.
FIRE CONTROL DISTRICTS — To account for taxes levied within municipal service taxing districts for fire prevention and
control.
— To account for taxes levied within 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.
PUBLIC RECORDS MODERNIZATION — To account for the statutory surcharge on recording documents to be paid to
the Clerk of the Circuit Court for the modernization of the Clerk's official records management system.
TOURIST DEVELOPMENT— To account for the 4% 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.
— 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.
IMPACT FEE ESCROW —To account for impact fees relating to certain projects under construction until permits are
issued.
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.
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
Inmate Welfare
County Drug Abuse
Law Enforcement Training
Debt Service Funds
Euclid and Lakeland Assessment
Legal Aid Society
Federal Equitable Sharing
Domestic Violence
Juvenile Assessment Center
Driver Education
Crime Prevention
Freedom Memorial
GAS TAX REVENUE BONDS — To account for the accumulation of resources and payments of interest and principal on
the Series 2003 and 2005 Gas Tax Bonds.
CAPITAL IMPROVEMENT REVENUE BONDS — To account for the accumulation of resources, surety reserve and
payment of interest and principal on the Series 2002, 2003 and 2005 Bonds.
POOLED COMMERCIAL PAPER PROGRAM — To account for the accumulation of resources and payment of interest
and principal on the variable rate commercial paper loan program.
CARIBBEAN GARDENS LOAN — To account for the accumulation of resources and payment of interest and principal
on the variable rate commercial paper incurred in the acquisition of Caribbean Gardens.
STORMWATER IMPROVEMENT ASSESSMENT BONDS — To account for the accumulation of resources and payment
of interest and principal on special assessment debt incurred in the Naples Park area.
LIMITED GENERAL OBLIGATION BONDS CONSERVATION COLLIER — To account for the accumulation of resources
and payment of interest and principal on long -term debt incurred for the acquisition of environmentally sensitive
lands.
COMMUNITY REDEVELOPMENT TAXABLE NOTE — To account for the accumulation of resources and payment of
interest and principal on taxable long -term debt incurred for the acquisition of land in the Bayshore /Gateway
Community Redevelopment Agency.
FOREST LAKES LIMITED GENERAL OBLIGATION BONDS — To account for the accumulation of resources and payment
of interest and principal on long -term debt incurred on the Forest Lakes Limited General Obligation Bonds.
SPECIAL OBLIGATION REVENUE BONDS — To account for the accumulation of resources and payment of interest and
principal on long -term debt incurred in the refinancing of various outstanding variable rate commercial paper loans.
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.
CORRECTIONAL FACILITIES IMPACT FEES — To account for the receipt and expenditure of correctional facilities impact
fees collected from all qualifying new construction. The impact fee 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. The 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 ad valorem taxes.
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.
LAW ENFORCEMENT IMPACT FEES — To account for the receipt and expenditure of law enforcement impact fees
collected from all qualifying new construction. The impact fee must be used for the acquisition /construction of law
enforcement related facilities.
OTHER CAPITAL PROJECTS — To account for major capital expenditure financed from resources other than proceeds
from the issuance of long -term debt and the one third mil levy.
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
See accompanying independent auditor's report
80
Special Revenue Funds
Community
Road
Redevelopment
Unincorporated
Community
Districts
Agency
Area MSTD
Development
ASSETS
Cash, cash equivalents and investments
$ 2,463,773
$ 2,653,626
$ 9,984,110
$ 7,198,544
Receivables:
Interest
3,391
3,319
14,972
7,102
Trade, net
22,110
-
221,010
80,558
Notes
-
-
-
Special assessments
-
-
Due from other funds
-
79,673
321,712
-
Due from other governments
179,657
-
436,757
44,524
Inventory for resale
-
13,504,134
-
-
Advances to other funds
-
Prepaid costs
-
-
-
-
Total assets
$ 2,668,931
$ 16,240,752
$ 10,978,561
$ 7,330,728
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
247,349
50,464
958,943
93,626
Wages payable
145,500
14,330
210,544
114,536
Due to other funds
20
18,178
16,495
527
Due to other governments
50
1,260
2,724
787,903
Due to individuals
-
-
-
1,831
Deferred revenues
40
-
-
Refundable deposits
-
1,850
61,785
Retainage payable
-
-
Advances from other funds
-
-
-
1,150,000
Total liabilities
392,959
84,232
1,190,556
2,210,208
Fund balances (deficits):
Restricted
-
16,156,520
-
-
Committed
-
-
9,788,005
5,120,520
Assigned
2,275,972
-
-
Unassigned
-
-
-
-
Total fund balances (deficits)
2,275,972
16,156,520
9,788,005
5,120,520
Total liabilities and fund balances
$ 2,668,931
$ 16,240,752
$ 10,978,561
$ 7,330,728
See accompanying independent auditor's report
80
Special Revenue Funds
Water
Management
Grants and
Fire
911
and Pollution
Shared
Improvement
Control
Lighting
Enhancement
Control
Revenues
Districts
Districts
Districts
Fee
$ 2,834,076
$ 7,587,020
$ 26,237,900
$ 775,116
$ 266,495
$ 3,563,827
3,646
5,828
29,589
1,291
422
4,326
155
25,945
1,184
56
10,454
-
-
219,000
-
-
-
40,666
118,346
34,762
28,842
7,359
-
100,836
3,619,125
-
-
-
150,957
-
4,544,266
-
$ 2,979,379
$ 16,119,530
$ 26,303,435
$ 805,305
$ 284,730
$ 3,719,110
52,955
934,375
1,112,798
6,329
38,413
-
40,668
21,030
8,326
34,634
1,562
-
-
1,820,834
42
-
-
294,500
-
1
99,100
-
1,656
-
-
-
1,606,637
36,911
68,881
-
93,623
4,421,443
1,190,048
140,063
39,975
294,500
-
11,698,087
-
-
-
3,424,610
2,885,756
-
25,113,387
665,242
244,755
-
2,885,756
11,698,087
25,113,387
665,242
244,755
3,424,610
$ 2,979,379
$ 16,119,530
$ 26,303,435
$ 805,305
$ 284,730
$ 3,719,110
81
ASSETS
Cash, cash equivalents and investments
Receivables:
Interest
Trade, net
Notes
Special assessments
Due from other funds
Due from other governments
Inventory for resale
Advances to other funds
Prepaid costs
Total assets
LIABILITIES AND FUND BALANCES
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAIOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
Special Revenue Funds
Liabilities:
State
800
Public
- 30,333 -
Housing
MHZ
Records
Tourist
Initiative
IRCP
Modernization
Development
Partnership
Fund
Retainage payable
$ 3,654,098
$ 39,898,375
$ 2,471,845 $
64,063
-
43,957
2,895
114
3,622,745 39,370,739 504,070 -
650,380
-
27,079
-
1,297,092
-
-
109,738
20,312
12
1,530
-
91,256
$ 3,654,110
$ 40,703,980
$ 3,792,144 $
Liabilities:
Accounts payable
31,365 1,301,586 33,415
Wages payable
- 30,333 -
Due to other funds
1,322
Due to other governments
-
Due to individuals
-
Deferred revenues
3,288,074
Refundable deposits
-
Retainage payable
Advances from other funds
- - - -
Totalliabilities
31,365 1,333,241 3,288,074 33,415
Fund balances (deficits):
Restricted
3,622,745 39,370,739 504,070 -
Committed
- - - 57,841
Assigned
Unassigned
Total fund balances (deficits) 3,622,745 39,370,739 504,070 57,841
Total liabilities and fund balances $ 3,654,110 $ 40,703,980_ $ 3,792,144 $ 91,256
See accompanying independent auditor's report
82
State Court Confiscated
Administration Property
$ 290,977 $ 689,528 $
419 802
85,696 -
15,213 -
Special Revenue Funds
GAC land
Sales, Roads Utility Conservation Impact Fee
1,467,872 $ 726,156 $ 20,907,495 $ 674,386
1,625 780 24,070 999
- - 675 -
65,901
268,891
5 392,305 5 b9U,33U 5 1, /3ts,38ts 5 716,936 5 LU,998,141 5 b75,385
18,799 - - 31 42,789
29,823 - 4,908 4,771 -
- - 69 -
268,891 -
- 13,132
48,OLL - LGO,mu 4,737 4/,OL7 L3,13L
- - - 20,950,512
- 690,330 1,469,497 721,997 - -
343,683 - - - 662,253
343,683 690,330 1,469,497 721,997 20,950,512 662,253
$ 392,305 $ 690,330 $ 1,738,388 $ 726,936 $ 20,998,141 $ 675,385
83
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
Special Revenue Funds
See accompanying independent auditor's report
84
Court
Court
Information
Court
University
Facilities
Technology
Services
Extension
Fee
ASSETS
Cash, cash equivalents and investments
$ 417,735
$ 486,867
$ 56,534
$ 2,888,016
Receivables:
Interest
657
-
62
2,984
Trade, net
47,772
100
92,888
Notes
-
-
-
Special assessments
-
Due from other funds
-
-
-
Due from other governments
-
19,350
inventory for resale
-
-
Advances to other funds
-
-
Prepaid costs
-
-
-
-
Total assets
$ 466,164
$ 506,217
$ 56,696
$ 2,983,888
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
31,263
267,242
-
-
Wages payable
-
-
-
Due to other funds
Due to other governments
-
Due to individuals
Deferred revenues
Refundable deposits
-
-
Retainage payable
Advances from other funds
-
-
Total liabilities
31,263
267,242
-
Fund balances (deficits):
Restricted
434,901
238,975
-
2,983,888
Committed
-
-
56,696
-
Assigned
-
-
-
Unassigned
-
-
-
-
Total fund balances (deficits)
434,901
238,975
56,696
2,983,888
Total liabilities and fund balances
$ 466,164
$ 506,217
$ 56,696
$ 2,983,888
See accompanying independent auditor's report
84
85
Special Revenue Funds
Debt Service Funds
Other
Total
Capital
Pooled
Special
Special
Gas Tax
Improvement
Commercial
Affordable
Revenue
Revenue
Revenue
Revenue
Paper
Housing
Funds
Funds
Bonds
Bonds
Program
$ 627,819
$ 5,360,379 $
144,246,632
$ 3,938,266
$ 15,840,029
$ 26,161
683
3,885
157,818
4,939
162
48
-
33,244
1,299,306
-
-
_
-
-
1,516,092
-
842,524
-
4,552,748
18,317,291
$ 628,502
$ 5,397,508 $
170,932,411
$ 3,943,205
$ 15,840,191
$ 26,209
46,463
5,268,205
-
-
-
1,125
662,090
-
-
37,884
2,189,871
13,137
-
118
891,156
-
-
3,487
-
5,163,642
-
76,767
-
-
105,792
-
-
1,150,000
15,717,302
-
-
85,590
15,511,010
-
15,730,439
-
4,140,904
103,525,951
3,943,205
-
628,502
1,002,569
48,445,097
-
-
_
-
168,445
3,450,353
109,752
26,209
628,502
5,311,918
155,421,401
3,943,205
109,752
26,209
$ 628,502
$ 5,397,508 $
170,932,411
$ 3,943,205
$ 15,840,191
$ 26,209
85
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAIOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
ASSETS
Cash, cash equivalents and investments
Receivables:
Interest
Trade, net
Notes
Special assessments
Due from other funds
Due from other governments
Inventory for resale
Advances to other funds
Prepaid costs
Total assets
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable
Wages payable
Due to other funds
Due to other governments
Due to individuals
Deferred revenues
Refundable deposits
Retainage payable
Advances from other funds
Total liabilities
Fund balances (deficits):
Restricted
Committed
Assigned
Unassigned
Total fund balances (deficits)
Total liabilities and fund balances
See accompanying independent auditor's report
Caribbean
Gardens Loan
Debt Service Funds
Stormwater
Limited General
314,630
Improvement
Obligation Bonds
Community
Assessment
Conservation
Redevelopment
Bond
Collier
Taxable Note
$ 5,342 $ 45,393 $ 229,938 $ 1,584,340
- 45 565 1,741
158 - 620 -
99,571 -
924 83,647 -
$ 5,500 $ 145,933 $ 314,770 $ 1,586,081
92
96,939
92 96,939
140
140
5,408
48,994
314,630
1,586,081
1,586,081
5,408
48,994
314,630
$ 5,500 $
145,933 $
314,770 $
1,586,081
86
Debt Service Funds Capital Projects Funds
87
Total
Forest Lakes
Special
State
Debt
County -Wide
Limited General
Obligation
Infrastructure
Service
Capital
Parks
Obligation Bonds
Revenue Bonds
Bank Loan
Funds
Improvements
Improvements
$ 81,288
$ 239,594
$ 337 $
21,990,688
$ 10,056,468
$ 13,686,499
112
208
-
7,820
11,374
14,300
-
-
778
-
4,494
-
99,571
-
-
5,718
90,289
34,140
38,867,500
1,150,000
$ 87,118
$ 239,802
$ 337 $
22,189,146
$ 48,935,342
$ 14,889,433
-
-
-
232
166,960
186,672
13,137
6,993
96,939
15,717,302
-
-
-
-
15,827,610
166,960
193,665
87,118
337
5,985,773
-
-
-
239,802
375,763
48,768,382
14,695,768
87,118
239,802
337
6,361,536
48,768,382
14,695,768
$ 87,118
$ 239,802
$ 337 $
22,189,146
$ 48,935,342
$ 14,889,433
87
ASSETS
Cash, cash equivalents and investments
Receivables:
Interest
Trade, net
Notes
Special assessments
Due from other funds
Due from other governments
Inventory for resale
Advances to other funds
Prepaid costs
Total assets
LIABILITIES AND FUND BALANCES
COLLIER COUNTY, FLORIDA
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
SEPTEMBER 30, 2011
Capital Projects Funds
Emergency
County -Wide Correctional Medical
Library Facilities Services Water
Impact Fees Impact Fees Impact Fees Management
$ 2,706,465 $ 2,079,465 $ 484,388 $ 10,662,978
3,067 2,392 597 11,350
1,342 364 278 53,487
333,688 129,791 118,436 -
- - - 2,453
8,685 13,425 3,762 -
$ 3,053,247 $ 2,225,437 $ 607,461 $ 10,730,268
Liabilities:
Accounts payable
73,410
508,642
Wages payable
-
-
Due to other funds
2,125
Due to other governments
-
-
Due to individuals
-
-
-
Deferred revenues
333,688
129,791
118,436
-
Refundable deposits
-
-
-
-
Retainage payable
-
131,756
-
146,656
Advances from other funds
9,715,125
4,218,800
2,333,900
-
Totalliabilities
10,122,223
4,480,347
2,452,336
657,423
Fund balances (deficits):
Restricted
-
-
-
-
Committed
-
-
Assigned
-
-
10,072,845
Unassigned
(7,068,976)
(2,254,910)
(1,844,875)
-
Total fund balances (deficits)
(7,068,976)
(2,254,910)
(1,844,875)
10,072,845
Total liabilities and fund balances
$ 3,053,247 $
2,225,437 $
607,461 $
10,730,268
See accompanying independent auditor's report
88
Capital Projects Funds
89
Total
Total
Parks
Road
law
Other
Capital
Nonmajor
Impact
Impact
Road
Enforcement
Capital
Projects
Governmental
Districts
Districts
Construction
Impact Fees
Projects
Funds
Funds
$ 12,775,880
$ 56,557,842
$
50,299,507
$ 2,585,905 $
2,672,231
$ 164,567,628
$ 330,804,948
13,899
64,463
60,119
2,933
3,119
187,613
353,251
7,443
27,783
822,480
208
976
918,855
2,218,939
2,074,739
6,134,030
-
89,256
-
8,879,940
10,396,032
-
-
-
-
34,503
34,503
134,074
-
529
941,593
940
979,655
1,912,468
459,165
96,863
2,766,780
-
3,348,680
7,901,428
-
-
-
-
-
18,317,291
40,017,500
40,017,500
$ 15,331,126
$ 62,881,510
$
54,890,479
$ 2,678,302 $
2,711,769
$ 218,934,374
$ 412,055,931
391,564
2,083,431
1,221,516
-
478,074
5,110,269
10,378,706
-
-
39,631
-
15,386
55,017
717,107
56
564
-
9,738
2,212,746
-
-
-
891,156
-
-
-
-
3,487
2,074,739
6,134,030
89,256
8,879,940
14,140,521
-
-
-
-
-
-
76,767
4,422
698,293
438,892
-
7,669
1,427,688
1,533,480
-
-
-
15,388,000
-
31,655,825
48,523,127
2,470,725
8,915,810
1,700,603
15,477,256
501,129
47,138,477
78,477,097
12,860,401
53,965,700
53,189,876
-
17,818
120,033,795
229,545,519
-
-
-
-
-
48,445,097
2,192,822
75,729,817
79,555,933
-
-
-
(12,798,954)
-
(23,967,715)
(23,967,715)
12,860,401
53,965,700
53,189,876
(12,798,954)
2,210,640
171,795,897
333,578,834
$ 15,331,126
$ 62,881,510
$
54,890,479
$ 2,678,302 $
2,711,769
$ 218,934,374
$ 412,055,931
89
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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 (deficiency) of revenues
over(under)expenditures
Other financing sources (uses):
Bonds issued
Premiums on bonds issued
Payment to refundinging bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficits) at beginning of year
Fund balances (deficits) at end of year
See accompanying independent auditor's report
Special Revenue Funds
5,989,841 2,610,902
4,139,377 6,786,365
- 768,196 279,635
18,292,554 - 10,746,659 -
- 2,026,788 120,360
10,407,487 -
113,955
Community
150,110
2,300
Road
Redevelopment
Unincorporated
Community
Districts
Agency
Area MSTD
Development
(15,280,672)
$ -
$ 1,768,200
$ 32,224,934
$
359,900
-
204,429
10,103,056
2,361,101
-
-
-
192,723
557,142
2,394,672
2,082,657
-
-
237,246
-
13,575
25,668
135,309
43,913
198,538
376,949
323,607
75,793
3,125,837
2,727,959
35,520,197
12,305,419
5,989,841 2,610,902
4,139,377 6,786,365
- 768,196 279,635
18,292,554 - 10,746,659 -
- 2,026,788 120,360
10,407,487 -
113,955
487,350
150,110
2,300
18,406,509
2,514,138
32,322,030
9,679,202
(15,280,672)
213,821
3,198,167
2,626,217
140,883
-
174,340
-
15,959,200
133,800
743,535
624,200
(361,900)
(1,3474594)
(5,088,830)
(687,896)
15,738,183
(1,213,794)
(4,170,955)
(63,696)
457,511
(999,973)
(972,788)
2,562,521
1,818,461
17,156,493
10,760,793
2,557,999
$ 2,2751972 $
16,156,520 $
9,788,005 $
5,120,520
T
Special Revenue Funds
Water
Management
Grants and
Fire
911
and Pollution
Shared
Improvement
Control
Lighting
Enhancement
Control
Revenues
Districts
Districts
Districts
Fee
$ 1,737,622
$
$ 3,464,268
$ 2,738,506 $
808,489
$ 1,959,030
690
-
-
-
-
147,575
14,634,092
-
-
546,725
50,000
222,081
5,643
30,605
45,633
209,406
13,361
3,901
31,033
2,571,290
-
-
-
-
-
-
968,402
1,351,659
4,272
2,135
-
5,034,507
15,698,127
5,247,414
2,761,782
814,525
1,990,063
-
850,060
-
-
-
-
-
1,552,070
-
3,064,580
2,611,451
2,991,197
336,399
667,135
-
-
-
1,511,779
372,909
2,080,011
811,466
-
4,417,074
-
-
2,587,763
-
2,151
871,756
-
-
-
-
63,420
-
14,500
-
62,402
4,323,391
3,172,521
17,980
-
-
4,565,378
14,441,817
6,791,423
3,160,480
811,466
2,611,451
469,129
1,256,310
(1,544,009)
(398,698)
3,059
(621,388)
5,250
-
-
-
6,265
-
2,110
2,401
16,945
-
40,667
785,314
407,862
31,842
7,359
-
(562,941)
-
(447,091)
(95,497)
(104,374)
-
(510,759)
785,314
(37,119)
(61,254)
(80,070)
-
(41,630)
2,041,624
(1,581,128)
(459,952)
(77,011)
(621,388)
2,927,386
9,656,463
26,694,515
1,125,194
321,766
4,045,998
$ 2,885,756
$ 11,698,087
$ 25,113,387
$ 665,242 $
244,755
$ 3,424,610
91
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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 (deficiency) of revenues
over(under)expenditures
Other financing sources (uses):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficits) at beginning of year
Fund balances (deficits) at end of year
See accompanying independent auditor's report
Public
Records
Modernization
Special Revenue Funds
State
Housing
Tourist Initiative 800 MHZ
Development Partnership ICRP Fund
$ $ 13,883,740 $ $
1,179,454 781 461,327
8,939 304,585 20,853 1,146
- 77,161 115,222 116,982
1,188,393 14,266,267 136,075 579,455
1,164,100 - -
- - - 1,169,631
4,913,882 - -
466,444
7,822,221
150,720 9,732 - 5,000
1,314,820 12,745,835 466,444 1,174,631
(126,427) 1,520,432 (330,369) (595,176)
18,943 -
109,739 542,400
(560,922) -
(432,240) 542,400
(126,427) 1,088,192 (330,369) (52,776)
3,749,172 38,282,547 834,439 110,617
$ 3,622,745 $ 39,370,739 $ 504,070 $ 57,841
92
Special Revenue Funds
GAC Land
State Court Confiscated Sales, Roads Utility Conservation Impact Fee
Administration Property and Canals Fee Collier Escrow
$ $ $ $ 212,881 $ 5,984,413 $
144,530 - 160,000 -
1,145,980 34,602 - -
2,367 5,618 11,465 5,037 184,130 7,187
41,751 - - - 22,817 -
1,334,628 40,220 11,465 377,918 6,191,360 7,187
932,604 - - -
1,438,749 62,000 - -
- - 327,470 1,146,126
24,404
- - - - 216,424
2,371,353 62,000 24,404 327,470 1,362,550
(1,036,725) (21,780) (12,939) 50,448 4,828,810 7,187
1,214,413 1,443,829
(5,121) (16,989) - (8,584,051)
1,209,292 (16,989) - (7,140,222) -
172,567 (38,769) (12,939) 50,448 (2,311,412) 7,187
171,116 729,099 1,482,436 671,549 23,261,924 655,066
$ 343,683 $ 690,330 $ 1,469,497 $ 721,997 $ 20,950,512 $ 662,253
93
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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 (deficiency) of revenues
over(under)expenditures
Other financing sources (uses):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficits) at beginning of year
Fund balances (deficits) at end of year
See accompanying independent auditor's report
Revenue Funds
Court Court
Information Court University Facilities
Technology Services Extension Fee
- 8,109,135 -
654,917 - 7,088
- - 1,113,900
4,138 - 536 18,638
6,136 - 19,835 -
665,191 8,109,135 27,459 1,132,538
518,483 8,501,034 204,034
11,880 - - -
- 16,871
3,191 -
69,332 - - 89,865
602,886 8,501,034 16,871 293,899
62,305 (391,899) 10,588 838,639
62,305 (391,899) 10,588 838,639
372,596 630,874 46,108 2,145,249
$ 434,901 $ 238,975 $ 56,696 $ 2,983,888
94
95
Special Revenue Funds
Debt Service Funds
Other
Total
Pooled
Special
Special
Gas Tax
Capital
Commercial
Affordable
Revenue
Revenue
Revenue
Improvement
Paper
Housing
Funds
Funds
Bonds
Revenue Bonds
Program
$ -
$ - $
64,782,083
$
$
$
-
4,405
10,672,480
-
-
86,581
25,338,484
-
-
-
1,078,895
9,738,635
-
-
164,633
2,696,361
4,646
34,097
1,165,786
30,288
2,679
1,130
-
-
2,571,290
-
-
-
20,014
413,552
4,134,825
-
-
-
24,660
1,782,163
121,099,944
30,288
2,679
1,130
-
153,390
20,924,448
-
-
-
-
707,901
21,544,004
-
-
11,446,911
-
-
33,815,378
-
-
7,030,666
209,882
2,800,836
7,807
19,135,826
-
-
-
63,420
7,185,000
9,760,000
-
14,500
7,398,527
8,977,533
-
-
-
4,837
7,118
-
77,821
8,948,903
-
-
-
1,156,801
125,724,892
14,588,364
18,744,651
-
24,660
625,362
(4,624,948)
(14,558,076)
(18,741,972)
1,130
-
-
(321,738)
-
5,250
-
-
361,887
-
-
-
42,231
22,086,391
14,664,600
19,073,539
14
(23,291)
(17,886,497)
-
(3,000)
(181,800)
-
18,940
4,567,031
14,664,600
18,748,801
(181,786)
24,660
644,302
(57,917)
106,524
6,829
(180,656)
603,842
4,667,616
155,479,318
3,836,681
102,923
206,865
$ 628,502
$ 5,311,918 $
155,421,401
$ 3,943,205
$ 109,752
$ 26,209
95
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAIOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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 (deficiency) of revenues
over (under) expenditures
Other financing sources (uses):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficits) at beginning of year
Fund balances (deficits) at end of year
See accompanying independent auditor's report
Caribbean
Gardens loan
Debt Service Funds
Stormwater
limited General
4,731
Improvement
Obligation Bonds
Community
Assessment
Conservation
Redevelopment
Bond
Collier
Taxable Note
$ 9,919 $ - $ 8,838,543 $
3,482 1,567 10,320 11,684
- 118,526 - -
13,401 120,093 8,848,863 11,684
175,000
14,531,925 900,000
4,731
1,089,070 447,594
9,788
4,837 -
189,519
15,625,832 1,347,594
13,401 (69,426) (6,776,969) (1,335,910)
96
924
8,350,447
1,347,594
(251,100)
(3,985)
(1,629,428)
-
(251,100)
(3,061)
6,721,019
1,347,594
(237,699)
(72,487)
(55,950)
11,684
243,107
121,481
370,580
1,574,397
$ 5,408
$ 48,994 $
314,630 $
1,586,081
96
Debt Service Funds Capital Projects Funds
Forest lakes Special
Limited General Obligation
Obligation Bonds Revenue Bonds
$ 528,696 $
1,171 555
529,867
555
State Total County -Wide
Infrastructure Debt Service Capital Parks
Bank Loan Funds Improvements Improvements
$ $ 9,377,158 $ $ -
- 529,381
50,000
337 63,213 77,645 87,725
118,526 - -
- - 3,011 3,052,002
337 9,558,897 80,656 3,719,108
97
_
2,205,146
-
-
654,272
_
-
28,374
_
_
-
-
334,548
350,000
1,545,000
1,875,930
36,322,855
106,617
205,775
2,596,696
164,070
20,883,996
6,123
-
2,652
405,080
-
434,312
-
-
-
-
-
-
1,078,750
727,549
558,427
4,546,776
2,040,000
57,641,163
4,079,282
1,062,097
(28,560)
(4,546,221)
(2,039,663)
(48,082,266)
(3,998,626)
2,657,011
24,620,000
24,620,000
-
-
2,050,315
-
2,050,315
(26,270,921)
(26,592,659)
-
-
-
-
212
-
5,718
4,375,588
2,040,000
49,858,424
9,527,100
34,140
(16,457)
-
-
(2,085,770)
-
(392,087)
(10,739)
4,774,982
2,040,000
47,850,310
9,527,312
(357,947)
(39,299)
228,761
337
(231,956)
5,528,686
2,299,064
126,417
11,041
-
6,593,492
43,239,696
12,396,704
$ 87,118 $
239,802 $
337 $
6,361,536
$ 48,768,382 $
14,695,768
97
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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 (deficiency) of revenues
over(under)expenditures
Other financing sources (uses):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fund balances (deficits) at beginning of year
Fund balances (deficits) at end of year
See accompanying independent auditor's report
Capital Projects Funds
57,802 36,853 -
- - 1,145,309
66,042
642,357
-
Emergency
3,274,363
County -Wide
Correctional
Medical
4,419,672
Library
Facilities
Services
Water
Impact Fees
Impact Fees
Impact Fees
Management
-
397,088
545,142
146,219
117,221
-
-
-
1,000,000
23,539
15,786
6,764
72,884
-
-
-
15
-
-
-
169,848
420,627
560,928
152,983
1,359,968
57,802 36,853 -
- - 1,145,309
66,042
642,357
-
11,329
3,274,363
708,399
57,802
48,182
4,419,672
(287,772)
503,126
104,801
(3,059,704)
-
5,684,153
(1,195,427)
(1,950,600)
(694,801)
(1,500,864)
(1,195,427)
(1,950,600)
(694,801)
4,183,289
(1,483,199)
(1,447,474)
(590,000)
1,123,585
(5,585,777)
(807,436)
(1,254,875)
8,949,260
$ (7,068,976) $
(2,254,910) $
(1,844,875) $
10,072,845
98
Capital Projects Funds
99
Total
Total
Parks
Road
taw
Other
Capital
Nonmajor
Impact
Impact
Road
Enforcement
Capital
Projects
Governmental
Districts
Districts
Construction
Impact Fees
Projects
Funds
Funds
$ -
$ -
$ 12,791,958
$ - $
- $
12,791,958
$ 86,951,199
2,879,219
6,904,293
-
303,998
7,996
11,830,557
22,503,037
276,492
-
8,505,474
-
-
9,781,966
35,120,450
-
60,274
14,700
124,974
9,863,609
-
-
-
-
-
-
2,696,361
93,330
471,842
527,493
26,020
31,352
1,434,380
2,663,379
-
-
-
-
35,667
35,682
2,725,498
1,740
328,415
1,208,139
101,280
55,985
4,920,420
9,055,245
3,250,781
7,704,550
23,093,338
431,298
145,700
40,919,937
171,578,778
-
-
-
-
119,940
2,325,086
23,249,534
139,685
390
889,002
22,433,006
-
-
11004,556
2,149,865
13,596,776
3,243,434
13,653,986
-
16,925,794
50,741,172
-
-
-
7,030,666
-
-
-
-
2,800,836
323,466
-
147,269
871,325
20,007,151
-
-
-
-
106,617
36,492,892
-
-
6,123
20,904,619
-
-
-
-
-
434,312
936,408
10,094,614
8,206,738
-
959,344
25,931,452
34,880,355
1,259,874
13,338,048
21,860,724
139,685
2,231,499
49,205,264
232,571,319
1,990,907
(5,633,498)
1,232,614
291,613
(2,085,799)
(8,285,327)
(60,992,541)
-
-
-
24,620,000
2,050,315
-
-
-
(26,592,659)
-
-
-
-
-
-
5,250
-
6,000
6,212
368,099
-
8,698,100
1,681,590
25,625,083
97,569,898
(3,116,000)
(1,054,450)
(22,259,353)
(2,615,000)
(65,689)
(34,844,271)
(54,816,538)
(3,116,000)
(1,054,450)
(13,561,253)
(2,615,000)
1,621,901
(9,212,976)
43,204,365
(1,125,093)
(6,687,948)
(12,328,639)
(2,323,387)
(463,898)
(17,498,303)
(17,788,176)
13,985,494
60,653,648
65,518,515
(10,475,567)
2,674,538
189,294,200
351,367,010
$ 12,860,401
$ 53,965,700
$ 53,189,876
$ (12,798,954) $
2,210,640 $
171,795,897
$ 333,578,834
99
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest Income
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):
Bonds Issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Government Facilities Road Districts
Impact Fees (Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
396,596
413,819
(17,223)
86,932
83,905
453,000 896,578
443,578
438,000
359,900
(78,100)
- -
-
2,172,600
2,361,101
188,501
(1,786,997)
123,500
192,723
69,223
25,000 52,181
27,181
25,000
13,780
(11,220)
- 21,085
21,085
3,000
198,538
195,538
478,000 969,844
491,844
2,762,100
3,126,042
363,942
396,596
413,819
(17,223)
86,932
83,905
3,027
16,100,147
16,100,147 -
19,418,709 18, 291,834 1,126,875
59,500
27,926
31,574 - -
1,423,957
59,837
1,364,120 157,910 113,955 43,955
(1,786,997)
1,966,985
585,487
1,381,498 19,576,619 18,405,789 1,170,830
(1,488,985) 384,357 1,873,342 (16,814,519) (15,279,747) 1,534,772
-
-
46,000
140,883 94,883
3,019,800
3,019,800
16,100,147
16,100,147 -
(4,806,797)
(4,806,797)
(502,847)
(502,847) -
(1,786,997)
(1,786,997)
15,643,300
15,738,183 94,883
(3,275,982)
(1,402,640)
1,873,342 (1,171,219)
458,436 1,629,655
Fund balances at beginning of year 7,457,100 7,457,100 1,414,466 1,414,466
Fund balances (deficits) at end of year $ 4,181,118 $ 6,054,460 $ 1,873,342 $ 243,247 $ 1,872,902 $ 1,629,655
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ (1,402,640) $ 458,436
Change in fair value of investments (350) (205)
Advances budgeted as transfers (2,389,800) -
Unbudgetedfunds (720)
Deferred revenues
Net change In fund balance, GAAP basis $ (3,792,790) $ 457,511
100
Community Redevelopment Agency Unincorporated Area MSTD
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
$ 1,768,200 $ 1,768,200 $ $ 33,878,600 $ 32,224,934 $ (1,653,666)
- - 173,500 204,429 30,929
3,845,124 557,142 (3,287,982) 2,360,200 2,394,672 34,472
- - - 272,500 237,246 (35,254)
15,000 25,831 10,831 50,000 136,004 86,004
350,000 376,948 26,948 208,800 323,607 114,807
5,978,324 2,728,121 (3,250,203) 36,943,600 35,520,892 (1,422,708)
- - 6,493,382 5,989,841 503,541
4,298,610 4,139,377 159,233
909,531 768,196 141,335
- - - 11,832,350 10,746,659 1,085,691
6,511,917 2,026,789 4,485,128 120,400 120,360 40
11,174,204 10,407,487 766,717
2,095,651 487,348 1,608,303 216,981 150,110 66,871
8,607,568 2,514,137 6,093,431 35,045,458 32,322,030 2,723,428
(2,629,244) 213,984 2,843,228 1,898,142 3,198,862 1,300,720
- - 75,604 174,340 98,736
133,800 133,800 - 695,100 798,635 103,535
(1,725,400) (1,347,594) 377,806 (5,477,950) (5,143,930) 334,020
(1,591,600) (1,213,794) 377,806 (4,707,246) (4,170,955) 536,291
(4,220,844) (999,810) 3,221,034 (2,809,104) (972,093) 1,837,011
5,090,944 5,090,944 - 7,562,915 7,562,915
$ 870,100 $ 4,091,134 $ 3,221,034 $ 4,753,811 $ 6,590,822 $ 1,837,011
$ (999,810) $ (972,093)
(163) (695)
$ (999,973) $ (972,788)
101
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Community Development Water Management and
(Budgetary Basis) Pollution Control (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
$ 2,312,903 $ (41,454)
Change in fair value of investments
(382) (176)
Advances budgeted as transfers
- -
Unbudgetedfunds
Taxes
$ -
$ -
$ -
$ 1,811,900
$ 1,737,622
$ (74,278)
Licenses, permits and impact fees
7,762,000
10,103,056
2,341,056
200
690
490
Intergovernmental
-
-
-
158,500
147,575
(10,925)
Charges for services
2,223,000
2,082,657
(140,343)
522,300
546,725
24,425
Fines and forfeitures
-
-
-
-
-
Interest income
21,000
44,295
23,295
36,500
30,781
(5,719)
Special assessments
-
-
2,667,000
2,571,290
(95,710)
Miscellaneous
92,000
75,793
(16,207)
-
Total revenues
10,098,000
12,305,801
2,207,801
5,196,400
5,034,683
(161,717)
Expenditures:
Current:
General government
3,141,993
2,610,902
531,091
-
Public safety
7,424,457
6,786,365
638,092
-
-
Physical environment
428,100
279,635
148,465
3,659,574
2,991,197
668,377
Transportation
-
-
-
1,677,300
1,511,779
165,521
Economic environment
-
-
-
Human services
Culture and recreation
Debt service
-
-
-
-
"
Capital outlay
26,500
2,300
24,200
156,100
62,402
93,698
Total expenditures
11,021,050
9,679,202
1,341,848
5,492,974
4,565,378
927,596
Excess (deficit) of revenues
over (under) expenditures
(923,050)
2,626,599
3,549,649
(296,574)
469,305
765,879
Other financing sources (uses):
Bonds issued
-
-
Premiums on bonds issued
Payment to refunding bond escrow
-
-
Sale of capital assets
5,250
5,250
Insurance proceeds
-
-
6,265
6,265
Transfers in
774,200
774,200
40,667
40,667
Transfers out
(1,087,896)
(1,087,896)
(647,000)
(562,941)
84,059
Total other financing sources (uses)
(313,696)
(313,696)
-
(647,000)
(510,759)
136,241
Net change in fund balances
(1,236,746)
2,312,903
3,549,649
(943,574)
(41,454)
902,120
Fund balances at beginning of year
2,357,150
2,357,150
-
2,603,074
2,603,074
Fund balances (deficits) at end of year
$ 1,120,404
$ 4,670,053
$ 3,549,649
$ 1,659,500
$ 2,561,620
$ 902,120
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis
$ 2,312,903 $ (41,454)
Change in fair value of investments
(382) (176)
Advances budgeted as transfers
- -
Unbudgetedfunds
250,000
Deferred revenues
-
Net change in fund balance, GAAP basis
$ 2,562,521 $ (41,630)
102
Grants and Shared Revenues Improvement Districts
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
$ $ $ $ 3,656,000 $ 3,464,268 $ (191,732)
32,462,995 11,133,242 (21,329,753) - - -
50,000 50,000 189,500 222,081 32,581
33,316 33,316 71,500 210,915 139,415
1,090,769 968,402 (122,367) 1,368,800 1,351,659 (17,141)
33,603,764 12,184,960 (21,418,804) 5,285,800 5,248,923 (36,877)
2,543,463 773,326 1,770,137 - -
3,251,999 450,729 2,801,270 - -
338,196 336,399 1,797 573,281 667,136 (93,855)
562,169 372,909 189,260 2,120,336 2,080,011 40,325
24,666,551 4,417,074 20,249,477 - - -
6,079,956 2,587,763 3,492,193 - - -
297,544 2,151 295,393 1,000,016 871,756 128,260
9,598,535 2,772,818 6,825,717 24,657,275 3,172,521 21,484,754
47,338,413 11,713,169 35,625,244 28,350,908 6,791,424 21,559,484
(13,734,649 471,791 14,206,440 (23,065,108) (1,542,501) 21,522,607
- - - 2,110 2,110
1,801,449 873,984 (927,465) 373,100 407,862 34,762
(232,145) (88,670) 143,475 (470,150) (447,090) 23,060
1,569,304 785,314 (783,990) (97,050) (37,118) 59,932
(12,165,345) 1,257,105 13,422,450 (23,162,158) (1,579,619) 21,582,539
13,414,186 13,414,186 26,425,658 26,425,658 -
$ 1,248,841 $ 14,671,291 $ 13,422,450 $ 3,263,500 $ 24,846,039 $ 21,582,539
$ 1,257,105 $ (1,579,619)
(327) (1,509)
784,846
$ 2,041,624 $ (1,581,128)
103
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfersin
Transfers out
Total other financing sources (uses)
Net change in fund balances
Fire Control Districts (Budgetary Basis) Lighting Districts
Budget Actual Variance Budget Actual Variance
$ 2,908,200 $
2,738,506
$ (169,694) $ 849,700 $
808,489
$ (41,211)
8,500
5,642
(2,858)
7,375
7,375
14,700
13,418
(1,282) 2,200
3,901
1,701
1,900
4,272
2,372 -
2,135
2,135
2,933,300
2,761,838
(171,462) 851,900
814,525
(37,375)
3,345,927 3,142,500 203,427
879,200 811,466 67,734
22,000 17,980 4,020 14,200 - 14,200
3,367,927 3,160,480 207,447 893,400 811,466 81,934
(434,627) (398,642) 35,985 (41,500) 3,059 44,559
-
2,401
2,401
16,945
16,945
167,907
164,920
(2,987)
7,375
7,375
(257,743)
(228,575)
29,168
(116,400) (104,390)
12,010
(89,836)
(61,254)
28,582
(116,400) (80,070)
36,330
(524,463)
(459,896)
64,567
(157,900) (77,011)
80,889
Fund balances at beginning of year 1,107,527 1,107,527 - 288,300 288,300 -
Fund balances (deficits) at end of year $ 583,064 $ 647,631 $ 64,567 $ 130,400 $ 211,289 $ 80,889
See accompanying independent auditors' report,
Reconciliation:
Net change in fund balance, budgetary basis $ (459,896) $ (77,011)
Change in fair value of investments (57)
Advances budgeted as transfers
Unbudgeted funds -
Deferred revenues
Net change in fund balance, GAAP basis $ (459,953) $ (77,011)
104
911 Enhancement Fee (Budgetary Basis) Public Records Modernization
Budget Actual Variance Budget Actual Variance
$ 1,920,000 $ 1,959,030 $ 39,030 $ $ $
600,000 1,179,454 579,454
58,000 31,253 (26,747) 6,000 8,939 2,939
1,978,000 1,990,283 12,283 606,000 1,188,393 582,393
- - - 1,408,000 1,164,100 243,900
4,086,476 2,611,451 1,475,025 - - -
15,000 15,000 876,500 150,720 725,780
4,101,476 2,611,451 11490,025 2,284,500 1,314,820 969,680
(2,123,476) (621,168) 1,502,308 (1,678,500) (126,427) 1,552,073
$ (621,168) $ (126,427)
(220)
$ (621,388) $ (126,427)
105
(126,427) 1,552,073
(2,123,476)
(621,168)
1,502,308 (1,678,500)
3,432,976
3,432,976
- 2,565,258
2,565,258
$ 1,309,500 $
2,811,808 $
1,502,308 $ 886,758 $
2,438,831 $ 1,552,073
$ (621,168) $ (126,427)
(220)
$ (621,388) $ (126,427)
105
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Tourist Development State Housing Initiativeship
(Budgetary Basis) Partnership (Budgetary Basis)
Budget Actual
Variance Budget Actual
$ 13,112,541 $
13,883,740
$ 771,199
2,892,000
-
(2,892,000)
-
781
781
205,000
306,859
101,859
20,000
77,161
57,161
12,745,660
14,213,260 799,924 466,444 333,480
16,229,541
14,268,541
(1,961,000)
Variance
20,999 20,999
115,222 115,222
136,221 136,221
7,200,472
4,913,882
2,286,590
109,739
(2,166,200) (2,105,722)
799,924 466,444 333,480
8,725,620
7,822,046
903,574
11,032,828
9,732
11,023,096 - - -
26,958,920
12,745,660
14,213,260 799,924 466,444 333,480
(10,729,379) 1,522,881 12,252,260 (799,924) (330,223) 469,701
- 18,943
18,943
1,544,800 1,654,539
109,739
(2,166,200) (2,105,722)
60,478
(621,400) (432,240)
189,160
(11,350,779) 1,090,641
12,441,420 (799,924) (330,223) 469,701
Fund balances at beginning of year 28,855,252 28,855,252 799,924 799,924
Fund balances (deficits) at end of year $ 17,504,473 $ 29,945,893 $ 12,441,420 $ - $ 469,701 $ 469,701
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis
$ 1,090,641 $ (330,223)
Change in fair value of investments
(2,274) (146)
Advances budgeted as transfers
- -
Unbudgetedfunds
(175)
Deferred revenues
-
Net change in fund balance, GAAP basis
$ 1,088,192 $ (330,369)
106
800 MHZ IRCP Fund State Court Administration
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
$
$
$
$ $
$
474,300
461,327
(12,973)
165,000
144,530
(20,470)
-
-
1,112,500
1,145,980
33,480
2,200
1,152
(1,048)
1,000
2,392
1,392
118,300
116,982
(1,318)
-
41,751
41,751
594,800
579,461
(15,339)
1,278,500
1,334,653
56,153
-
-
-
1,039,300
932,604
106,696
1,199,900
1,169,061
30,839
1,460,900
1,438,749
22,151
5,000
5,000
-
6,500
6,500
1,204,900
1,174,061
30,839
2,506,700
2,371,353
135,347
(610,100)
(594,600)
15,500
(1,228,200) (1,036,700)
191,500
542,400
542,400
1,255,900
1,241,588
(14,312)
(69,400)
(32,296)
37,104
542,400
542,400
1,186,500
1,209,292
22,792
(67,700)
(52,200)
15,500
(41,700)
172,592
214,292
97,300
97,300
115,300
115,300
$ 29,600
$ 45,100
$ 15,500
$ 73,600 $
287,892 $
214,292
$ (52,200) $ 172,592
(6) (25)
(570)
$ (52,776) $ 172,567
107
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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):
Confiscated Property GAC Land Sales,
(Budgetary Basis) Roads and Canals (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
34,167 34,602 435 - -
- 5,659 5,659 22,300 11,548 (10,752)
151,700 (151,700)
34,167 40,261 6,094 174,000 11,548 (162,452)
62,000 62,000
301,800 24,404 277,396
62,000 62,000 301,800 24,404 277,396
(27,833) (21,739) 6,094 (127,800) (12,856) 114,944
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in -
Transfers out (324,000) (16,989) 307,011
Total other financing sources (uses) (324,000) (16,989) 307,011 -
Net change in fund balances (351,833) (38,728) 313,105 (127,800) (12,856) 114,944
Fund balances at beginning of year 369,800 369,800 1,378,900 1,378,900
Fund balances (deficits) at end of year $ 17,967 $ 331,072 $ 313,105 $ 1,251,100 $ 1,366,044 $ 114,944
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ (38,728) $ (12,856)
Change in fair value of investments (41) (83)
Advances budgeted as transfers - -
Unbudgetedfunds
Deferred revenues -
Net change in fund balance, GAAP basis $ (38,769) $ (12,939)
108
Utility Fees Conservation Collier
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
$ 240,000 $
212,881 $
(27,119)
$ 6,233,700
$ 5,984,413
$ (249,287)
130,000
160,000
30,000
6,000
(6,000)
1,000
5,079
4,079
275,700
185,330
(90,370)
7,500
22,817
15,317
371,000
377,960
6,960
6,522,900
6,192,560
(330,340)
369,400
327,470
41,930
3,257,236
1,146,126
2,111,110
-
438,833
216,424
222,409
369,400
327,470
41,930
3,696,069
1,362,550
2,333,519
1,600
50,490
48,890
2,826,831
4,830,010
2,003,179
5,884,900
5,637,729
(247,171)
(13,273,600)
(12,777,951)
495,649
(7,388,700)
(7,140,222)
248,478
1,600
50,490
48,890
(4,561,869)
(2,310,212)
2,251,657
600,300
600,300
-
24,120,469
24,120,469
$ 601,900 $
650,790 $
48,890
$ 19,558,600
$ 21,810,257
$ 2,251,657
$ 50,490 $ (2,310,212)
(42) (1,200)
$ 50,448 $ (2,311,412)
109
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Court Information
Technology Fee (Budgetary Basis)
Court Services
Total expenditures
Budget
Actual
Variance
Budget
Actual
Variance
over (under) expenditures
Revenues:
62,340
199,640
(391,899)
(391,899)
Other financing sources (uses):
Taxes
$ $
$
$
$
$
Licenses, permits and impact fees
Premiums on bonds issued
Intergovernmental
Payment to refunding bond escrow
-
8,714,858
8,109,135
(605,723)
Charges for services
600,000
654,917
54,917
-
-
Fines and forfeitures
-
-
-
Transfers in
Interest income
4,173
4,173
Transfers out
Special assessments
-
-
Total other financing sources (uses)
Miscellaneous
-
6,136
6,136
-
-
199,640
(391,899)
(391,899)
Fund balances at beginning of year
206,200
206,200
Total revenues
600,000
665,226
65,226
8,714,858
8,109,135
(605,723)
Expenditures:
Current:
General government
597,294
518,483
78,811
8,714,858
8,501,034
213,824
Public safety
14,400
11,880
2,520
-
-
-
Physical environment
-
-
-
Transportation
Economic environment
-
-
-
Human services
5,000
3,191
1,809
Culture and recreation
-
-
-
Debt service
-
-
-
Capital outlay
120,606
69,332
51,274
Total expenditures
737,300
602,886
134,414
8,714,858 8,501,034
213,824
Excess (deficit) of revenues
over (under) expenditures
(137,300)
62,340
199,640
(391,899)
(391,899)
Other financing sources (uses):
Bonds issued
-
-
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
insurance proceeds
-
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
(137,300)
62,340
199,640
(391,899)
(391,899)
Fund balances at beginning of year
206,200
206,200
Fund balances (deficits) at end of year
$ 68,900 $
268,540 $
199,640
$ $ (391,899)
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ 62,340 $ (391,899)
Change in fair value of investments (35)
Advances budgeted as transfers -
Unbudgetedfunds
Deferred revenues -
Net change in fund balance, GAAP basis $ 62,305 $ (391,899)
110
Court Facilities Fee
University Extension (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
7,088 7,088 - -
- - 1,088,000 1,113,900 25,900
536 536 9,000 18,797 9,797
10,000 19,835 9,835 -
10,000 27,459 17,459 1,097,000 1,132,697 35,697
155,243 204,034 (48,791)
20,600 16,871 3,729
1,761,079 89,865 1,671,214
20,600 16,871 3,729 1,916,322 293,899 1,622,423
(10,600) 10,588 21,188 (819,322) 838,798 1,658,120
(10,600)
10,588
21,188 (819,322)
838,798 1,658,120
39,300
39,300
- 2,086,522
2,086,522 -
$ 28,700 $
49,888 $
21,188 $ 1,267,200 $
2,925,320 $ 1,658,120
$ 10,588 $ 838,798
- (159)
$ 10,588 $ 838,639
111
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Other Special Gas Tax Revenue Bonds
Revenue Funds (Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
$ 383,011 $ 106,749
Change in fair value of investments
(200) (225)
Advances budgeted as transfers
Unbudgeted funds
Taxes
$ - $
-
$
$
$ $
Licenses, permits and impact fees
12,000
4,405
(7,595)
Intergovernmental
20,000
86,581
66,581
Charges for services
392,500
475,032
82,532
Fines and forfeitures
140,400
164,633
24,233
-
Interest income
15,100
29,985
14,885
18,000
30,513
12,513
Special assessments
-
-
-
-
-
-
Miscellaneous
77,500
342,242
264,742
-
-
-
Total revenues
657,500
1,102,878
445,378
18,000
30,513
12,513
Expenditures:
Current:
General government
202,700
153,390
49,310
-
-
-
Public safety
717,000
301,692
415,308
Physical environment
-
-
-
Transportation
Economic environment
-
-
Human services
366,422
209,882
156,540
Culture and recreation
30,800
7,807
22,993
-
-
-
Debt service
-
-
-
14,597,600
14,588,364
9,236
Capital outlay
236,861
66,036
170,825
Total expenditures
1,553,783
738,807
814,976
14,597,600
14,588,364
91236
Excess (deficit) of revenues
over(under)expenditures
(896,283)
364,071
1,260,354
(14,579,600)
(14,557,851)
21,749
Other financing sources (uses):
Bonds issued
-
-
-
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
-
-
-
-
Transfers in
49,810
42,231
(7,579)
14,664,600
14,664,600
Transfers out
(23,291)
(23,291)
Total other financing sources (uses)
49,810
18,940 (30,870)
14,664,600
14,664,600
Net change in fund balances
(846,473)
383,011
1,229,484
85,000
106,749
21,749
Fund balances at beginning of year
2,417,808
2,417,808
3,880,400
3,880,400
Fund balances (deficits) at end of year
$ 1,571,335 $
2,800,819
$ 1,229,484
$ 3,965,400
$ 3,987,149 $
21,749
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis
$ 383,011 $ 106,749
Change in fair value of investments
(200) (225)
Advances budgeted as transfers
Unbudgeted funds
261,491
Deferred revenues
Net change in fund balance, GAAP basis
$ 644,302 $ 106,524
112
Capital Improvement Pooled Commercial
Revenue Bonds (Budgetary Basis) Paper Program
Budget
Actual
Variance
Budget
Actual
Variance
3,572
3,572
1,130
1,130
3,572
3,572
1,130
1,130
18,754,020
18,744,651
9,369
18,754,020
18,744,651
9,369
-
-
(18,754,020) (18,741,079)
12,941
1,130
1,130
(321,800)
(321,738)
62
19,073,539
19,073,539
-
14
14
(3,859,476)
(3,856,476)
3,000
(181,800)
(181,800)
14,892,263
14,895,325
3,062
(181,800)
(181,786)
14
(3,861,757)
(3,845,754)
16,003
(181,800)
(180,656)
1,144
19,579,081
19,579,081
-
181,800
181,800
-
$ 15,717,324 $
15,733,327 $
16,003
$ - $
1,144 $
1,144
$ (3,845,754) $ (180,656)
(893)
3,853,476
$ 6,829 $ (180,656)
113
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Stormwater Improvement
Caribbean Gardens Loan Assessment Bond (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
Revenues:
Taxes $ 40,000 $ 9,919 $ (30,081) $ $ $
Licenses, permits and impact fees - -
Intergovernmental
Charges for services
Fines and forfeitures - - -
Interest income 2,000 3,482 1,482 1,569 1,569
Special assessments - - - 90,000 118,526 28,526
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):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
42,000 13,401 (28,599) 90,000 120,095 30,095
3,000
3,000
194,300
189,519
4,781
3,000
3,000
194,300
189,519
4,781
39,000 13,401 (25,599) (104,300) (69,424) 34,876
- 30,000 924 (29,076)
(267,900) (251,100) 16,800 (5,500) (3,985) 1,515
(267,900) (251,100) 16,800 24,500 (3,061) (27,561)
(228,900) (237,699) (8,799) (79,800) (72,485) 7,315
Fund balances at beginning of year 231,000 231,000 88,900 88,900
Fund balances (deficits) at end of year $ 2,100 $ (6,699) $ (8,799) $ 9,100 $ 16,415 $ 7,315
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ (237,699) $ (72,485)
Change in fair value of investments (2)
Advances budgeted as transfers -
Unbudgetedfunds
Deferred revenues -
Net change in fund balance, GAAP basis $ (237,699)
114
Limited General Obligation Bonds, Community Redevelopment
Conservation Collier (Budgetary Basis) Taxable Note (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
$ 9,226,800
$ 8,838,543
$ (388,257)
$
$ $
4,400
10,327
5,927
6,000
11,774
5,774
9,231,200
8,848,870
(382,330)
6,000
11,774
5,774
15,628,500
15,625,832
2,668
1,732,300
1,347,594
384,706
15,628,500
15,625,832
2,668
1,732,300
1,347,594
384,706
(6,397,300) (6,776,962)
(379,662)
(1,726,300)
(1,335,820)
390,480
8,676,800
8,350,447
(326,353)
1,725,400
1,347,594
(377,806)
(1,958,500)
(1,629,428)
329,072
6,718,300
6,721,019
2,719
1,725,400
11347,594 (377,806)
321,000
(55,943)
(376,943)
(900)
11,774
12,674
140,400
140,400
1,560,900
1,560,900
-
$ 461,400
$ 84,457
$ (376,943)
$ 1,560,000
$ 1,572,674 $
12,674
$ (55,943) $ 11,774
(7) (90)
$ (55,950) $ 11,684
115
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Forest Lakes Limited General Special Obligation
Obligation Bonds (Budgetary Basis) Revenue Bonds (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
$ 546,200 $ 528,696 $ (17,504) $ $ $
20,000 1,176 (18,824) 569 569
566,200 529,872 (36,328) 569 569
560,300
558,427
1,873
4,606,288
4,546,776
59,512
560,300
558,427
1,873
4,606,288
4,546,776
59,512
5,900 (28,555) (34,455) (4,606,288) (4,546,207) 60,081
Fund balances at beginning of year 87,400 87,400
Fund balances (deficits) at end of year $ 73,600 $ 48,106 $ (25,494) $ 171,800 $ 228,775 $ 56,975
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ (39,294) $ 228,775
Change in fair value of investments (5) (14)
Advances budgeted as transfers - -
Unbudgetedfunds
Deferred revenues
Net change in fund balance, GAAP basis $ (39,299) $ 228,761
116
24,620,000
24,620,000
-
2,050,400
2,050,315
(85)
(26,270,900)
(26,270,921)
(21)
5,718
5,718
4,378,588
4,375,588
(3,000)
(19,700)
(16,457)
3,243
-
(19,700)
(10,739)
8,961
4,778,088
4,774,982
(3,106)
(13,800)
(39,294)
(25,494)
171,800
228,775
56,975
Fund balances at beginning of year 87,400 87,400
Fund balances (deficits) at end of year $ 73,600 $ 48,106 $ (25,494) $ 171,800 $ 228,775 $ 56,975
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ (39,294) $ 228,775
Change in fair value of investments (5) (14)
Advances budgeted as transfers - -
Unbudgetedfunds
Deferred revenues
Net change in fund balance, GAAP basis $ (39,299) $ 228,761
116
State Infrastructure
Bank Loan
County-Wide Capital
Improvements (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
78,241 78,241
3,011 3,011
81,252 81,252
337
337
376,372
337
337
78,241 78,241
3,011 3,011
81,252 81,252
$ 337 $ 1,329,382
(596)
4,199,900
$ 337 $ 5,528,686
117
2,694,258 2,317,886
376,372
702,697 654,272
48,425
327 -
327
28,374 28,374
-
2,044,600
2,040,000
4,600
- -
-
-
6,257,594 1,078,750
5,178,844
2,044,600
2,040,000
4,600
9,683,250 4,079,282
5,603,968
(2,044,600) (2,039,663)
4,937
(9,683,250) (3,998,030)
5,685,220
-
-
- 212
212
2,044,600
2,040,000
(4,600)
9,527,100 9,527,100
-
-
-
-
(4,199,900) (4,199,900)
2,044,600
2,040,000
(4,600)
5,327,200 5,327,412
212
337
337
(4,356,050) 1,329,382
5,685,432
181,800
181,800
8,669,899 8,669,899
$ 181,800 $
182,137 $
337
$ 4,313,849 $ 9,999,281 $
5,685,432
$ 337 $ 1,329,382
(596)
4,199,900
$ 337 $ 5,528,686
117
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Parks Improvements County-Wide Library
(Budgetary Basis) Impact Fees (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
422,200 529,381 107,181 320,000 397,088 77,088
300,000 50,000 (250,000)
80,000 88,495 8,495 9,000 23,689 14,689
3,000,000 3,052,002 52,002
3,802,200 3,719,878 (82,322) 329,000 420,777 91,777
783,974
334,548
449,426
139,915
66,042
73,873
13,542,472
727,549
12,814,923
1,429,912
642,357
787,555
Deferred revenues
-
Net change in fund balance, GAAP basis
$ 2,299,064
14,326,446
1,062,097
13,264,349
1,569,827
708,399
861,428
(10,524,246) 2,657,781 13,182,027 (1,240,827) (287,622) 953,205
250,000 284,140
(399,500) (392,087)
34,140
7,413
(1,195,427) (1,195,427)
(149,500) (107,947)
41,553
(1,195,427) (1,195,427)
(10,673,746) 2,549,834
13,223,580
(2,436,254) (1,483,049) 953,205
Fund balances at beginning of year 10,852,544 10,852,544 3,986,488 3,986,488
Fund balances (deficits) at end of year $ 178,798 $ 13,402,378 $ 13,223,580 $ 1,550,234 $ 2,503,439 $ 953,205
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis
$ 2,549,834
$ (1,483,049)
Change in fair value of investments
(770)
(150)
Advances budgeted as transfers
(250,000)
-
Unbudgetedfunds
Deferred revenues
-
Net change in fund balance, GAAP basis
$ 2,299,064
118
Correctional Facilities Emergency Medical Services
Impact Fees (Budgetary Basis) Impact Fees (Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
152,000
545,142
393,142
80,000
146,219
66,219
9,000
15,913
6,913
8,100
6,790
(1,310)
161,000
561,055
400,055
88,100
153,009
64,909
153,128
57,802
95,326
116,081
36,853
79,228
95,138
-
95,138
15,007
11,329
3,678
248,266
57,802
190,464
131,088
48,182
82,906
(87,266)
503,253
590,519
(42,988)
104,827
147,815
1,810,100
1,810,100
(1,950,600) (1,950,600)
(694,801)
(694,801)
(140,500) (140,500)
(694,801)
(694,801)
(227,766)
362,753
590,519
(737,789)
(589,974)
147,815
1,792,937
1,792,937
-
1,040,688
1,040,688
-
$ 1,565,171 $
2,155,690 $
590,519
$ 302,899
$ 450,714 $
147,815
$ 362,753 $ (589,974)
(127) (26)
(1,810,100)
$ (1,447,474) $ (590,000)
119
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Revenues:
Taxes
Licenses, permits and impact fees
Intergovernmental
Charges for services
Fines and forfeitures
Interest income
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):
Bonds issued
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
Insurance proceeds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balances
Water Management Parks Impact Districts
(Budgetary Basis) (Budgetary Basis)
Budget Actual Variance Budget Actual Variance
2,911,774 1,145,309 1,766,465
408,204 323,466 84,738
12,003,123 3,274,363 8,728,760 4,296,452 936,408 3,360,044
14,914,897 4,419,672 10,495,225 4,704,656 1,259,874 3,444,782
(13,565,750) (3,059,103) 10,506,647 (2,891,256) 1,991,630 4,882,886
5,681,700 5,684,153 2,453
(1,662,200) (1,500,864) 161,336 (3,116,000) (3,116,000)
4,019,500 4,183,289 163,789 (3,116,000) (3,116,000) -
(9,546,250) 1,124,186 10,670,436 (6,007,256) (1,124,370) 4,882,886
Fund balances at beginning of year 9,611,650 9,611,650 13,784,551 13,784,551
Fund balances (deficits) at end of year $ 65,400 $ 10,735,836 $ 10,670,436 $ 7,777,295 $ 12,660,181 $ 4,882,886
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ 1,124,186 $ (1,124,370)
Change in fair value of investments (601) (723)
Advances budgeted as transfers - -
Unbudgetedfunds
Deferred revenues -
Net change in fund balance, GAAP basis $ 1,123,585 $ (1,125,093)
120
121,600
117,221
(4,379) 1,725,000
2,879,219
1,154,219
1,000,000
1,000,000
-
276,492
276,492
57,700
73,485
15,785 88,400
94,053
5,653
-
15
15 -
-
169,847
169,848
1
1,740
1,740
1,349,147
1,360,569
11,422 1,813,400
3,251,504
1,438,104
2,911,774 1,145,309 1,766,465
408,204 323,466 84,738
12,003,123 3,274,363 8,728,760 4,296,452 936,408 3,360,044
14,914,897 4,419,672 10,495,225 4,704,656 1,259,874 3,444,782
(13,565,750) (3,059,103) 10,506,647 (2,891,256) 1,991,630 4,882,886
5,681,700 5,684,153 2,453
(1,662,200) (1,500,864) 161,336 (3,116,000) (3,116,000)
4,019,500 4,183,289 163,789 (3,116,000) (3,116,000) -
(9,546,250) 1,124,186 10,670,436 (6,007,256) (1,124,370) 4,882,886
Fund balances at beginning of year 9,611,650 9,611,650 13,784,551 13,784,551
Fund balances (deficits) at end of year $ 65,400 $ 10,735,836 $ 10,670,436 $ 7,777,295 $ 12,660,181 $ 4,882,886
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis $ 1,124,186 $ (1,124,370)
Change in fair value of investments (601) (723)
Advances budgeted as transfers - -
Unbudgetedfunds
Deferred revenues -
Net change in fund balance, GAAP basis $ 1,123,585 $ (1,125,093)
120
Road Impact Districts Road Construction
(Budgetary Basis) (Budgetary Basis)
Budget
Actual
Variance
Budget
Actual
Variance
$ -
$ - $
$ 12,543,600
$ 12,791,958
$ 248,358
10,830,000
6,904,293
(3,925,707)
-
-
-
-
-
10,988,500
8,505,474
(2,483,026)
46,714
60,274
13,560
633,500
475,086
(158,414)
681,048
530,376
(150,672)
328,415
328,415
787,321
1,208,139
420,818
11,463,500
7,707,794 (3,755,706)
25,047,183
23,096,221
(1,950,962)
9,169,412
3,243,434
5,925,978
10,795,913
13,450,975
(2,655,062)
51,511,289
10,094,614
41,416,675
60,493,352
8,206,738
52,286,614
60,680,701
13,338,048
47,342,653
71,289,265
21,657,713
49,631,552
(49,217,201)
(5,630,254)
43,586,947
(46,242,082)
1,438,508
47,680,590
16,998,100
8,698,100
(8,300,000)
(1,054,450)
(1,OS4,450)
(23,912,452)
(22,259,353)
1,653,099
(1,054,450)
(1,054,450)
-
(6,914,352)
(13,561,253)
(6,646,901)
(50,271,651)
(6,684,704)
43,586,947
(53,156,434)
(12,122,745)
41,033,689
59,120,350
59,120,350
68,203,825
68,203,825
$ 8,848,699
$ 52,435,646 $
43,586,947
$ 15,047,391
$ 56,081,080
$ 41,033,689
$ (6,684,704) $ (12,122,745)
(3,244) (2,883)
(203,011)
$ (6,687,948) $ (12,328,639)
121
COLLIER COUNTY, FLORIDA
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL (BUDGETARY BASIS)
MAJOR CAPITAL PROJECT AND NONMAJOR GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Law Enforcement Impact Fees Other Capital Projects
(Budgetary Basis) (Budgetary Basis)
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis
Budget
Actual
Variance
Budget
Actual
Variance
(1,700,000)
Deferred revenues
Net change in fund balance, GAAP basis
$ (2,323,387) $ (463,898)
Revenues:
Taxes
$ -
$ - $
-
$ -
$ - $
Licenses, permits and impact fees
175,000
303,998
128,998
2,000
7,996
5,996
Intergovernmental
-
-
-
-
Charges for services
14,700
14,700
Fines and forfeitures
-
-
-
-
-
-
Interest income
9,000
26,158
17,158
13,100
31,516
18,416
Special assessments
-
-
-
35,000
35,667
667
Miscellaneous
101,280
101,280
5,984
55,985
50,001
Total revenues
184,000
431,436
247,436
56,084
145,864
89,780
Expenditures:
Current:
General government
-
-
-
952,442
119,940
832,502
Public safety
189,929
139,685
50,244
2,942
390
2,552
Physical environment
-
-
-
1,318,019
1,004,556
313,463
Transportation
-
-
-
Economic environment
Human services
-
-
-
Culture and recreation
155,434
147,269
8,165
Debt service
-
-
-
-
-
Capital outlay
72,036
-
72,036
1,509,763
959,344
550,419
Total expenditures
261,965
139,685
122,280
3,938,600
2,231,499
1,707,101
Excess (deficit) of revenues
over(under)expenditures
(77,965)
291,751
369,716
(3,882,516)
(2,085,635)
1,796,881
Other financing sources (uses):
Bonds issued
-
-
Premiums on bonds issued
Payment to refunding bond escrow
Sale of capital assets
-
-
insurance proceeds
-
-
6,000
6,000
-
Transfers in
1,700,000
1,700,000
1,680,650
1,681,590
940
Transfers out
(2,615,000)
(2,615,000)
(96,800)
(65,689)
31,111
Total other financing sources (uses)
(915,000)
(915,000)
-
1,589,850
1,621,901
32,051
Net change in fund balances
(992,965)
(623,249)
369,716
(2,292,666)
(463,734)
1,828,932
Fund balances at beginning of year
3,053,566
3,053,566
-
2,711,668
2,711,668
fund balances (deficits) at end of year
$ 2,060,601
$ 2,430,317 $
369,716
$ 419,002
$ 2,247,934 $
1,828,932
See accompanying independent auditors' report.
Reconciliation:
Net change in fund balance, budgetary basis
$ (623,249) $ (463,734)
Change in fair value of investments
(138) (164)
Advances budgeted as transfers
Unbudgeted funds
(1,700,000)
Deferred revenues
Net change in fund balance, GAAP basis
$ (2,323,387) $ (463,898)
122
Nonmajor Enterprise Funds
EMERGENCY MEDICAL SERVICES — To account for the provision of emergency ambulance and
paramedical services to users throughout the County.
GOODLAND WATER — To account for the provision of potable water services to residents of
Goodland.
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.
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF NET ASSETS
NONMAJOR ENTERPRISE FUNDS
SEPTEMBER 30, 2011
Noncurrent assets:
Capital assets:
Total
Current liabilities:
Emergency
Land and nondepreciable capital assets
- - 7,527,168
Collier
Nonmajor
Depreciable capital assets, net
Medical
Goodland
Airport
Area
Enterprise
14,397,046
Services
Water
Authority
Transit
Funds
ASSETS
-
47
941,592
941,639
Current assets:
-
1,888
54,155
56,043
Cash, cash equivalents and investments
$ 1,136,357
$ 278,583
$ 1,501,284 $
1,238
$ 2,917,462
Receivables:
477,728
46,647
7,601
531,976
Trade, net
3,148,747
14,630
16,405
160
3,179,942
Interest
2,512
358
1,962
650
5,482
Unbilled revenue
177,369
8,690
-
-
186,059
Due from other funds
14
-
249,906
12,044
12,058
Due from other governments
893
-
-
893
Inventory
15,764
-
135,019
-
150,783
Restricted assets:
1,454,101
4,723
2,413,441
1,929,310
5,801,575
Cash, cash equivalents and investments
76,993
151,984
69,144
298,121
Due from other governments
-
-
2,261,098
2,509,820
4,770,918
Total current assets
4,558,649
302,261
4,067,752
2,593,056
11,521,718
Noncurrent assets:
Capital assets:
Current liabilities:
Land and nondepreciable capital assets
- - 7,527,168
6,213,807
13,740,975
Depreciable capital assets, net
3,465,772 793,276 11,357,021
8,183,239
23,799,308
Total noncurrent assets
3,465,772 793,276 18,884,189
14,397,046
37,540,283
Total assets
8,024,421 1,095,537 22,951,941
16,990,102
49,062,001
LIABILITIES
Current liabilities:
Accounts payable
47,814
4,723
1,984,159
856,578
2,893,274
Wages payable
262,004
-
15,578
2,820
280,402
Due to other funds
-
47
941,592
941,639
Due to other governments
-
1,888
54,155
56,043
Due to individuals
377,316
-
-
377,316
Compensated absences
477,728
46,647
7,601
531,976
Capital lease obligations
212,246
-
-
212,246
Liabilities payable from restricted assets:
Accounts payable
-
-
66,564
66,564
Retainage payable
249,906
-
249,906
Refundable deposits
-
18,231
18,231
Unearned revenue
76,993
-
96,985
173,978
Total current liabilities
1,454,101
4,723
2,413,441
1,929,310
5,801,575
Noncurrent liabilities:
Compensated absences
204,741
-
19,991
3,258
227,990
Capital lease obligations
174,565
-
-
174,565
Total noncurrent liabilities
379,306
-
19,991
3,258
402,555
Total liabilities
1,833,407
4,723
2,433,432
1,932,568
6,204,130
NET ASSETS
Invested in capital assets, net of related debt
3,078,961
793,276
18,884,189
14,397,046
37,153,472
Unrestricted
3,112,053
297,538
1,634,320
660,488
5,704,399
Total net assets
$ 6,191,014
$ 1,090,814
$ 20,518,509
$ 15,057,534 $
42,857,871
See accompanying independent auditors' report.
124
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
NONMAJOR ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Non - operating revenues (expenses):
Total
Operating grants and contributions
Emergency
-
-
Collier
Nonmajor
Interest income
Medical
Goodland
Airport
Area
Enterprise
Insurance reimbursement
Services
Water
Authority
Transit
Funds
Operating revenues:
(22,243)
-
(1,014)
-
(23,257)
Charges for services
$ 8,959,199
$ 404,322
$ 2,918,202
$ 1,260,770
$ 13,542,493
Miscellaneous
20,236
1,575
19,945
29,565
71,321
Total operating revenues
8,979,435
405,897
2,938,147
1,290,335
13,613,814
Operating expenses:
5,824,872
Transfers in
11,316,100
527,000
Personal services
18,391,128
-
1,120,192
101,617
19,612,937
Operating
3,369,934
439,280
2,473,405
8,669,199
14,951,818
Depreciation
737,284
56,329
848,605
1,172,057
2,814,275
Total operating expenses
22,498,346
495,609
4,442,202
9,942,873
37,379,030
Operating loss
(13,518,911)
(89,712) (1,504,055)
(8,652,538)
(23,765,216)
Non - operating revenues (expenses):
Operating grants and contributions
35,026
-
-
4,322,765
4,357,791
Interest income
24,067
2,759
16,067
3,597
46,490
Insurance reimbursement
62,347
1,200
2,827
2,088
68,462
Interest expense
(22,243)
-
(1,014)
-
(23,257)
Loss on disposal of capital assets
(7,052)
- (4,136)
- (11,188)
Total non - operating revenues (expenses)
92,145
3,959
13,744
4,328,450
4,438,298
Loss before contributions and transfers
(13,426,766)
(85,753) (1,490,311)
(4,324,088) (19,326,918)
Capital grants and contributions
2,816
4,432,549
1,389,507
5,824,872
Transfers in
11,316,100
527,000
4,431,916
16,275,016
Transfers out
(3,000) (82,200)
-
-
(85,200)
Total transfers and contributions
11,315,916 (82,200)
4,959,549
5,821,423
22,014,688
Changes in net assets
(2,110,850)
(167,953)
3,469,238
1,497,335
2,687,770
Net assets - beginning
8,301,864
1,258,767
17,049,271
13,560,199
40,170,101
Net assets - ending
$ 6,191,014 $
1,090,814 $
20,518,509 $
15,057,534 $
42,857,871
See accompanying independent auditors' report.
125
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
NONMAIOR ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Total
Emergency Collier Nonmajor
Medical Goodland Airport Area Enterprise
Services Water Authority Transit Funds
Cash flows from operating activities:
1,200 832
2,088 66,467
-
Cash received for services
$ 9,732,524
$ 417,125 $ 2,944,674 $
1,282,660 $ 14,376,983
Cash payments for goods and services
(1,987,816)
(304,782) (2,132,103)
(6,584,112) (11,008,813)
Cash payments to employees
(19,056,692)
- (1,155,452)
(102,573) (20,314,717)
Cash payments for interfund services
(1,433,050)
(131,578) (385,008)
(2,139,856) (4,089,492)
Cash payments on refundable deposits
1,238 $
(72)
(72)
Net cash provided by (used for) operating activities
(12,745,034) (19,235 ) (727,961) (7,543,881) (21,036,111)
Cash flows from non - capital financing activities:
69,144
298,121
Cash, cash equivalents and investments, September 30, 2011
Cash received from operating grants
40,265
- -
2,812,247 2,852,512
Cash transfers from other funds
11,316,100
883,236
9,344,980 21,544,316
Cash transfers to other funds
(3,000) (82,200 ) (356,236) 4,199,660) (4,641,096)
Net cash provided by (used for) non - capital
-
-
financing activities
11,353,365
(82,200 ) 527,000
7,957,567 19,755,732
Cash flows from capital and related
financing activities:
Receipts from insurance reimbursements
Proceeds from disposal of capital assets
Proceeds from capital grants
Payments for capital acquisitions
Principal payments on leases
Interest and fiscal agent fees paid
Net cash used for capital and related financing activities
Cash flows from investing activities:
Interest on investments
Net cash provided by investing activities
Net decrease in cash, cash equivalents and investments
62,347
1,200 832
2,088 66,467
-
- 2,857
11,776 14,633
Cash, cash equivalents and investments, September 30, 2011
2,660,428
- 2,660,428
(102,481)
(3,008,825)
(462,868) (3,574,174)
(231,106)
(18,429)
(249,535)
(22,243)
(1,014)
(23,257)
(293,483)
1,200 (364,151) (449,004) (1,105,438)
27,182 2,944 17,653 3,507 51,286
27,182 2,944 17,653 3,507 51,286
(1,657,970) (97,291) (547,459) (31,811) (2,334,531)
Cash, cash equivalents and investments, October 1, 2010
2,871,320
375,874
2,200,727
102,193
5,550,114
Cash, cash equivalents and investments, September 30, 2011
$ 1,213,350
$ 278,583
$ 1,653,268 $
70,382 $
3,215,583
-
5,831
9,868
-
Cash, cash equivalents and investments
$ 1,136,357
$ 278,583
$ 1,501,284 $
1,238 $
2,917,462
Cash, cash equivalents and investments - restricted
76,993
-
151,984
69,144
298,121
Cash, cash equivalents and investments, September 30, 2011
$ 1,213,350
$ 278,583
$ 1,653,268 $
70,382 $
3,215,583
Operating loss
Adjustments to reconcile operating loss to
net cash provided by (used for) operating activities:
Depreciation expense
Net changes in assets and liabilities:
Trade receivable
Due from other funds
Due from other governments
Inventory
Accounts payable
Wages payable
Due to other funds
Due to other governments
Due to individuals
Compensated absences
Refundable deposits
Unearned revenue
Total adjustments
Net cash provided by (used for) operating activities
Non -cash investing, capital and financing activities:
Change in fair value of investments
Contributed capital assets
$ (13,518,911) $ (89,712) $ (1,504,055) $ (8,652,538) $ (23,765,216)
737,284 56,329 848,605 1,172,057 2,814,275
747,272
11,228
12,702
24,370
795,572
(14)
-
-
(12,043)
(12,057)
5,831
-
5,831
9,868
-
(16,486)
(6,618)
(60,104)
2,920
(27,220)
(53,865)
(138,269)
(573,026)
-
(34,882)
(2,541)
(610,449)
(244)
-
2,294
2,050
58
(23,200)
(23,142)
(452)
-
-
(452)
(92,538)
(378)
1,585
(91,331)
-
(72)
-
(72)
-
- (6,233)
-
(6,233)
773,877
70,477
776,094
1,108,657
2,729,105
$ (12,745,034)
$ (19,235) $
(727,961) $ (7,543,881)
1 (21,036,111)
$ (138) $ (17) $ (91) $ (38) $ (284)
2,816 - - 1,389,507 1,392,323
See accompanying independent auditors' report. 126
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.
INFORMATION TECHNOLOGY — To account for the costs of operating the County data processing
facility and telephone communication system.
ASSETS
Current assets:
Cash, cash equivalents and investments
Receivables:
Trade, net
Interest
Due from other funds
Due from other governments
Deposits
Inventory
Prepaid costs
Total current assets
Noncurrent assets:
Capital assets:
Depreciable capital assets, net
Total noncurrent assets
Total assets
LIABILITIES
Current liabilities:
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF NET ASSETS
INTERNAL SERVICE FUNDS
SEPTEMBER 30, 2011
Sheriff's
Self- Self- Fleet Information
Insurance Insurance Management Technology Total
$ 26,312,066 $ 14,650,620 $ 569,253 $ 1,408,048 $ 42,939,987
254,413 151,534
647
47,119
453,713
34,511 -
561
1,609
36,681
- 780,436
95
-
780,531
- -
42,706
9,800
52,506
424,553
-
-
424,553
-
604,745
-
604,745
- -
-
49,410
49,410
27,025,543 15,582,590
1,218,007
1,515,986
45,342,126
305,354
12,648,312
8,300,833
21,254,499
305,354
12,648,312
8,300,833
21,254,499
27,330,897
15,582,590 13,866,319
9,816,819
66,596,625
Accounts payable
88,765
396,210
703,540
1,188,515
Wages payable
17,060
31,110
52,421
100,591
Due to other funds
850,546 -
-
35,000
885,546
Self- insurance claims payable
3,463,175 2,251,000
-
-
5,714,175
Compensated absences
82,792 -
107,725
174,494
365,011
Total current liabilities
4,502,338 2,251,000
535,045
965,455
8,253,838
Noncurrent liabilities:
Self- insurance claims payable
1,928,324
-
-
-
1,928,324
Compensated absences
35,482
-
46,168
74,783
156,433
Net pension obligation
437,881
1,140,863
-
1,578,744
Total noncurrent liabilities
2,401,687
1,140,863
46,168
74,783
31663,501
Total liabilities
6,904,025
3,391,863
581,213
1,040,238
11,917,339
NET ASSETS
invested in capital assets, net of related debt
305,354
-
12,648,312
8,300,833
21,254,499
Unrestricted
20,121,518
12,190,727
636,794
475,748
33,424,787
Total net assets
$ 20,426,872
$ 12,190,727
$ 13,285,106
$ 8,776,581
$ 54,679,286
See accompanying independent auditors' report.
128
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS
INTERNAL SERVICE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
See accompanying independent auditors' report.
129
Sheriffs
Self-
Self-
Fleet
Information
Insurance
Insurance
Management
Technology
Total
Operating revenues:
Charges for services
$ 39,208,945
$ 19,579,579
$ 7,981,957
$ 5,801,846
$ 72,572,327
Miscellaneous
25,324
-
6,074
81,461
112,859
Total operating revenues
39,234,269
19,579,579
7,988,031
5,883,307
72,685,186
Operating expenses:
Personal services
1,102,253
2,019,824
3,297,947
6,420,024
Operating
37,923,333
17,815,915
6,269,793
2,047,395
64,056,436
Depreciation
20,553
-
561,427
1,433,259
2,015,239
Total operating expenses
39,046,139
17,815,915
8,851,044
6,778,601
72,491,699
Operating income (loss)
188,130
1,763,664
(863,013)
(895,294)
193,487
Non - operating revenues (expenses):
Interest income
240,487
32,649
4,474
8,356
285,966
Insurance reimbursement
580,218
-
395
-
580,613
Loss on disposal of capital assets
-
-
(2,527)
(2,663)
(5,190)
Total non- operating revenues (expenses)
820,705
32,649
2,342
5,693
861,389
Income (loss) before contributions
1,008,835
1,796,313
(860,671)
(889,601)
1,054,876
Capital grants and contributions
-
-
12,032
37,573
49,605
Transfers out
(850,000)
-
-
-
(850,000)
Change in net assets
158,835
1,796,313
(848,639)
(852,028)
254,481
Net assets - beginning
20,268,037
10,394,414
14,133,745
9,628,609
54,424,805
Net assets - ending
_$ 201426,872
$ 121190 727
$ 13,285,106
$ 8,776,581
$ 54,679,286
See accompanying independent auditors' report.
129
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Cash flows from operating activities:
Cash received from other funds for services
Cash received from employees for services
Cash received from other governments for services
Cash received from retirees for services
Cash payments on behalf of retirees
Cash payments for goods and services
Cash payments to employees
Cash payments for interfund services
Net cash provided by (used for) operating activities
Cash flows from capital and related financing activities:
Receipts from insurance reimbursements
Proceeds from disposal of capital assets
Payments for capital acquisitions
Net cash provided by (used for) capital and related
financing activities
Cash flows from investing activities:
Interest on investments
Net cash provided by investing activities
Net increase (decrease) in cash, cash equivalents and investment
Cash, cash equivalents and investments, October 1, 2010
Cash, cash equivalents and Investments, September 30, 2011
Operating Income (loss)
Adjustments to reconcile operating income (loss) to net cash
provided (used for) by operating activities:
Depreciation expense
Net changes in assets and liabilities:
Trade receivable
Due from other funds
Due from other governments
Deposits
Inventory
Prepaid costs
Accounts payable
Wages payable
Due to other funds
Compensated absences
Self- insurance claims payable
Net pension obligation
Total adjustments
Net cash provided by (used for) operating activities
Non -cash investing, capital and financing activities:
Change in fair value of investments
Contributed capital assets
See accompanying independent auditors' report.
Sheriff's
Self- Self- Fleet Information
Insurance Insurance Management Technology Total
$ 34,583,808 $19,164,973 $ 7,527,460 $ 5,868,280 $ 67,144,521
4,627,305 - - 4,627,305
- - 418,998 418,998
724,319 499,143 - 1,223,462
(726,021) (341,007) - (1,067,028)
(38,759,440) (17,517,932) (6,116,002) (1,930,735) (64,324,109)
(1,132,615) (2,078,811) (3,405,558) (6,616,984)
(93,903) (271,600) (36,778) (402,281)
(776,547) 1,805,177 (519,955) 495,209 1,003,884
538,710 - 538,710
- 4,356 4,356
(73,536) (106,955) (86,945) (267,436)
465,174 (102,599) (86,945) 275,630
247,750 32,649 4,901 6,747 292,047
247,750 32,649 4,901 6,747 292,047
(63,623) 1,837,826 (617,653) 415,011 1,571,561
26,375,689 12,812,794 1,186,906 993,037 41,368,426
$ 26,312,066 $14,650,620 $ 569,253 $ 1,408,048 $ 42,939,987
$ 188,130 $ 1,763,664 $ (863,013) $ (895,294) $ 193,487
20,553 - 561,427 1,433,259 2,015,239
(74,883)
(151,534)
5,454
(45,167)
(266,130)
-
84,537
(71)
5,000
89,466
1,000
-
(42,655)
(9,800)
(51,455)
93,714
93,714
1,921
-
(38,598)
(36,677)
-
-
23,042
(49,410)
(26,368)
(60,414)
-
(102,253)
129,292
(33,375)
(33,454)
-
(60,264)
(102,452)
(196,170)
152
(4,301)
34,940
30,791
3,092
-
1,277
(5,159)
(790)
(1,063,501)
97,000
-
-
(966,501)
147,143
11,510
-
158,653
(964,677)
41,513
343,058
1,390,503
810,397
$ (776,547) $
1,805,177
$ (519,955) $
495,209 $
1,003,884
$ (1,798) $ (10,405) $ (27) $ (36,811) $ (49,041)
12,033 37,573 49,606
130
Fiduciary Funds
CLERK OF COURTS AGENCY FUND — To account for monies held in Trust by the Clerk of the Circuit
Court prior to disbursement.
SHERIFF AGENCY FUND — To account for monies held in a custodial capacity by the Sheriff.
TAX COLLECTOR AGENCY FUND — To account for assets held by the Tax Collector prior to legal
disbursement.
DEPOSITS AGENCY FUND — To account for monies held by the County for businesses and
individuals.
PINE RIDGE AND NAPLES PRODUCTION PARK AGENCY FUND — To account for the receipt of
special assessments and the payment of principal and interest on behalf of assessment holders.
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES
AGENCY FUNDS
SEPTEMBER 30, 2011
LIABILITIES
Due to other governments $ 2,266,815 $ 45,180 $ 5,309,135 $ - $ $ 7,621,130
Due to individuals - 427,771 142,992 - 570,763
Refundable deposits 16,639,144 - - 3,232,093 19,871,237
Due to special assessment holders - - 370,134 370,134
Total liabilities $ 18,905,959 $ 472,951 $ 5,452,127 $ 3,232,093 $ 370,134 $28,433,264
See accompanying independent auditors' report.
132
Pine Ridge
Clerk
Tax
and Naples
of Courts
Sheriff
Collector
Deposits
Production Park
Agency Fund
Agency Fund
Agency Fund
Agency Fund
Agency Fund
Total
ASSETS
Cash, cash equivalents and investments
$ 18,905,959
$ 464,087
$ 5,443,691
$ 3,228,598
$ 363,024
$28,405,359
Receivables:
Interest
-
-
-
3,495
569
4,064
Other
-
8,864
8,436
6,541
23,841
Total assets
$ 18,905,959
$ 472,951
$ 5,452,127
$ 3,23.2 93
$ 370,134
$28,433,264
LIABILITIES
Due to other governments $ 2,266,815 $ 45,180 $ 5,309,135 $ - $ $ 7,621,130
Due to individuals - 427,771 142,992 - 570,763
Refundable deposits 16,639,144 - - 3,232,093 19,871,237
Due to special assessment holders - - 370,134 370,134
Total liabilities $ 18,905,959 $ 472,951 $ 5,452,127 $ 3,232,093 $ 370,134 $28,433,264
See accompanying independent auditors' report.
132
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Balance Balance
October 1 Additions Deductions September 30
Clerk of Courts Agency Fund
Assets:
Cash, cash equivalents and investments $ 21,474,385 $ 220,536,370 $ 223,104,796 $ 18,905,959
Total assets $ 21,474,385 $ 220,536,370 $ 223,104,796 $ 18,905,959
Liabilities:
Due to other governments $ 1,471,636 $ 10,434,882 $ 9,639,703 $ 2,266,815
Refundable deposits 20,002,749 210,101,488 213,465,093 16,639,144
Total liabilities $ 21,474,385 $ 220,536,370 $ 223,104,796 $_18,905,959
Sheriff Agency Fund
Assets:
Cash, cash equivalents and investments $ 450,824 $ 4,375,846 $ 4,362,583 $ 464,087
Receivable:
Other 8,864 - 8,864
Total assets $ 450,824 $ 4,384,710 $ 4,362,583 $ 472,951
Liabilities:
Due to other governments $ 66,122 $ 342,669 $ 363,611 $ 45,180
Due to individuals 384,702 1,153,910 1,110,841 427,771
Total liabilities $ 450,824 $ 1,496,579 $ 11474,452 $ 472,951
Tax Collector Agency Fund
Assets:
Cash, cash equivalents and investments
$
6,584,222
$
872,170,871
$
873,311,402
$
5,443,691
Receivable:
Other
15,974
1,196,041
1,203,579
8,436
Total assets
$
6,600,196
$
873,366,912
$
874,514,981
$
5,452,127
Liabilities:
Due to other governments
$
5,098,571
$
841,232,639
$
841,022,075
$
5,309,135
Due to individuals
$
1,501,625
$
36,487,258
$
37,845,891
$
142,992
Total liabilities
$
6,600,196
$
877,719,897
$
878,867,966
$
5,452,127
Deposits Agency Fund
Assets:
Cash, cash equivalents and investments
$
3,121,028
$
359,052
$
251,482
$
3,228,598
Receivables:
Interest
4,099
3,495
4,099
3,495
Total assets
$
3,125,127
$
362,547
$
255,581
$
3,232,093
Liabilities:
Refundable deposits
$
3,125,127
$
355,854
$
248,888
$
3,232,093
Total liabilities
$
3,125,127
$
355,854
$
248,888
$
3,232,093
(Continued)
133
COLLIER COUNTY, FLORIDA
COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
Pine Ridee and Naples Production Park Aaencv Fund
Assets:
Cash, cash equivalents and investments
Receivables:
Interest
Other
Total assets
Liabilities:
Due to special assessment holders
Total liabilities
Total - All Aaencv funds
Assets:
Cash, cash equivalents and investments
Receivables:
Interest
Other
Total assets
Liabilities:
Due to other governments
Due to individuals
Refundable deposits
Due to special assessment holders
Total liabilities
See accompanying independent auditors' report.
Balance Balance
October 1 Additions Deductions September 30
$ 905,809 $ 841,436 $ 1,384,221 $ 363,024
1,299 569 1,299 569
13,783 6,541 13,783 6,541
$ 920,891 $ 848,546 $ 1,399,303 $ 370,134
$ 920,891 $ 848,546 $ 1,399,303 $ 370,134
$ 920,891 $ 848,546 $ 1,399,303 $ 370,134
$ 32,536,268 $ 1,098,283,575 $ 1,102,414,484 $ 28,405,359
5,398 4,064 5,398 4,064
29,757 11211,446 11217,362 23,841
$ 32,571,423 $ 1,099,499,085 $ 1,101637,244 $ 28,433,264
$ 6,636,329 $ 852,010,190 $ 851,025,389 $ 7,621,130
1,886,327 37,641,168 38,956,732 570,763
23,127,876 210,457,342 213,713,981 19,871,237
920,891 848,546 11399,303 370,134
$ 32,571,423 $ 1,100,957,246 $ 1,105,095,405 $ 28,433,264
134
Component Units
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 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 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 EDUCATIONAL FACILITIES AUTHORITY — The authority was established for the
purpose of assisting institutions of higher education in the construction, financing and refinancing
of projects.
COLLIER COUNTY, FLORIDA
COMPONENT UNITS
COMBINING STATEMENT OF NET ASSETS
SEPTEMBER 30, 2011
Housing Health Industrial Educational
Finance Facilities Development Facilities
Authority Authority Authority Authority Totals
ASSETS
Cash, cash equivalents and investments $ 284,552 $ 19,939 $ 2,550 $ 2,586 $ 309,627
Total Assets $ 284,552 $ 19,939 $ 2,550 $ 2,586 $ 309,627
NET ASSETS
Net assets - unrestricted $ 284,552 $ 19,939 $ 2,550 $ 2,586 $ 309,627
Total Net Assets $ 284,552 $ 19,939 $ 2,550 $ 2,586 $ 309,627
See accompanying independent auditors' report.
136
COLLIER COUNTY, FLORIDA
COMPONENT UNITS
COMBINING STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
See accompanying independent auditor's report.
137
Net(Expense)
Revenue and Changes
Program Revenues
in Net Assets
Fees, Fines and
Governmental
FUNCTIONS /PROGRAMS
Expenses
Charges for Services
Activities
Industrial Development Authority
$ 107,089
$ 102,375
$ (4,714)
Health Facilities Authority
359,906
213,010
(146,896)
Housing Finance Authority
680
2,000
1,320
Educational Facilities Authority
189
336
147
Total
$ 467,864
$ 317,721
(150,143)
General revenues:
Interest income
338
Total general revenues
338
Change in net assets
(149,805)
Net assets - beginning
459,432
Net assets - ending
$ 309,627
See accompanying independent auditor's report.
137
THIS PAGE INTENTIONALLY LEFT BLANK
STATISTICAL SECTION (UNAUDITED)
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.
CONTENTS
FINANCIAL TRENDS
These schedules contain trend information to help the reader understand how the government's
financial performance and wellbeing have changed over time.
PAGE
Net assets by component 140
Change in net assets 141
Governmental activities tax revenues by source 144
Fund balances of governmental funds 145
Changes in fund balance of governmental funds 146
REVENUE CAPACITY
These schedules contain information to help the reader assess the Country's most significant local
revenue source, the Property Tax.
Assessed value and estimated actual value of taxable property 148
Property Tax Rates — All direct and overlapping governments 149
Principal Taxpayers County -wide 150
Property Tax levies and collections 151
DEBT CAPACITY
These schedules present information to help 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.
Ratios of outstanding debt by type 152
Ratios of general bonded debt outstanding 153
Legal debt margin information 154
Direct and overlapping governmental activities debt 154
Pledged- revenue coverage 155
DEMOGRAPHIC AND ECONOMIC INFORMATION
These schedules offer demographic and economic indicators to help the rear understand the
environment within which the County's financial activities take place.
Demographic and economic statistics 156
Principal employers 157
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.
Full -time equivalent County employees by function 158
Operating indicators by function 159
Capital Asset statistics by function /program 160
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant
year. The County implemented GASB 34 for fiscal year 2002. Schedules presenting government-wide information include information beginning
in that fiscal year.
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143
COLLIER COUNTY, FLORIDA
GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE
LAST TEN FISCAL YEARS
(amounts expressed in thousands)
(unaudited)
Fiscal
Property
Gas
Sales
Tourist
Other
Year
Tax
Tax
Tax
Tax
Taxes (1)
Total
2002
$ 147,753
$ 17,333
$ 26,611
$ 8,184
$ 4,893
$ 204,774
2003
174,291
17,731
27,846
8,377
5,604
233,849
2004
213,353
19,887
31,323
9,720
5,796
280,079
2005
237,452
20,127
32,949
10,484
7,089
308,101
2006
293,240
20,028
34,671
13,629
9,142
370,710
2007
345,054
19,598
32,568
14,228
8,754
420,202
2008
327,245
18,860
30,004
14,796
4,051
394,956
2009
313,290
18,456
26,779
12,345
12,241
383,111
2010
299,389
18,415
26,927
12,857
10,039
367,627
2011
261,630
18,311
28,364
13,884
10,155
332,344
(1) Pursuant to the Uniform Accounting
System direction
from the State of Florida, the Communications
Services Tax was
shown with fees, fines and charges for services for fiscal year 2008, this changed in 2009.
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COLLIER COUNTY, FLORIDA
ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
(amounts expressed in thousands)
(unaudited)
Fiscal Year
Ended
September 30,
Residential
Property
Personal
Property
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
2002
$ 36,089,299
$ 1,651,435
$ 110
$ 4,345,843
$ 33,395,001
13.0881
$ 37,740,844
100%
2003
42,635,220
1,770,370
113
4,915,279
39,490,424
12.8418
44,405,703
100%
2004
49,712,793
1,802,265
117
5,529,447
45,985,728
12.6800
51,515,175
100%
2005
55,370,248
1,820,777
127
5,928,339
51,262,813
12.3711
57,191,152
100%
2006
66,375,040
1,956,646
143
6,890,007
61,441,822
12.2586
68,331,829
100%
2007
82,909,061
2,156,726
202
8,023,791
77,042,198
11.5139
85,065,989
100%
2008
88,819,491
2,321,048
226
8,575,874
82,564,891
10.7366
91,140,765
100%
2009
86,949,935
2,430,996
202
10,718,166
78,662,967
10.3120
89,381,133
100%
2010
77,359,174
2,444,323
202
9,826,950
69,976,749
10.9869
79,803,699
100•/
2011
67,947,039
2,259,654
171
8,770,667
61,436,197
11.4441
70,206,864
100%
Property is assessed as of January 1, and taxes based on these assessments are levied and become due on the following November 1.
Therefore, assessments and levies applicable to a certain tax year are collected in the fiscal year ending during the next succeeding
calendar year.
'The basis of assessed value required by the state is 100% of actual value including tax exemptions.
Source: Property Appraiser Recapitulation Report
148
COLLIER COUNTY, FLORIDA
PROPERTY TAX RATES - ALL DIRECT AND OVERLAPPING GOVERNMENTS
LAST TEN FISCAL YEARS
(unaudited)
Fiscal
Year
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Collier County
Other
County
School Independent
District
Special
Debt
General
Revenue
Service
1.3813
Fund
Funds
Funds
Total
6.5240
1.3562
12.6800
6.2200
3.8772
0.6670
0.0256
4.5698
3.8772
0.6767
0.0215
4.5754
3.8772
0.9226
0.0000
4.7998
3.8772
0.9177
0.0000
4.7949
3.8772
0.9161
0.1500
4.9433
3.5790
0.8470
0.2226
4.6486
3.1469
0.7362
0.2233
4.1064
3.1469
0.7528
0.2249
4.1246
3.5645
0.7225
0.1366
4.4236
3.5645
0.6926
0.1580
4.4151
Other
County
School Independent
District
Districts
Total
7.1370
1.3813
13.0881
6.9110
1.3554
12.8418
6.5240
1.3562
12.6800
6.2200
1.3562
12.3711
5.9730
1.3423
12.2586
5.5250
1.3403
11.5139
5.3510
1.2792
10.7366
4.9090
1.2784
10.3120
5.2390
1.3243
10.9869
5.6990
1.3299
11.4440
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 2011 Annual Budget
149
COLLIER COUNTY, FLORIDA
PRINCIPAL TAXPAYERS COUNTY -WIDE
2011 TAX ROLL
(amounts expressed in thousands)
(unaudited)
Owner/Taxpayer
Property
Taxes
Levied
2011
Rank
Percent of
Total
Taxes Levied
Property
Taxes
Levied
2002
Rank
Percent of
Total
Taxes Levied
Florida Power & Light Company
$
2,514,323
1
0.34%
$
1,814,540
1
0.40%
HHR Naples LLC
1,362,639
2
0.18%
-
-
' Century Link
912,781
3
0.12%
1,494,248
3
0.33%
Lee County Electric
858,602
4
0.11%
576,303
10
0.13%
City National Bank of Miami
818,982
5
0.11%
1,224,291
4
0.27%
Wal -Mart Stores East LP
738,855
6
0.10%
-
-
Naples HMA, Inc.
726,028
7
0.10%
-
-
Coastland Center Joint Venture
677,172
8
0.09%
1,085,056
5
0.24%
Collier HMA Inc
670,169
9
0.09%
-
-
MERCATO LLP
660,539
10
0.09%
-
-
HMC BN LTD Partnership
-
-
1,714,712
2
0.38%
Marco Island Utilities
728,236
6
0.16%
Collier Development Corporation
658,865
7
0.14%
Lutgert TR, Raymond L
651,178
8
0.14%
CC- Naples Inc
-
-
636,340
9
0.14%
Total
$
9,940,090
1.33%
$
10,583,769
2.32%
Total Property Taxes Levied
$
750,091,683
$
455,219,272
Amounts for taxpayers with similar names have not been combined.
Source: Property Appraiser's taxpayer listing in order of taxes levied.
Property Appraiser Recapitulation Report.
i Century Link was Sprint in 2002
150
COLLIER COUNTY, FLORIDA
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(amounts expressed in thousands)
(unaudited)
Fiscal Year Total Tax Collected within the
Ended Levy for Fiscal Year of the Levy Collections in Total Collections to Date
September 30 Fiscal Year Amount Percentage of Levy Subsequent Years Amount Percentage of Levy
2002
$ 157,744 $
146,033
92.6% $
136 $
146,169
92.7%
2003
185,633
174,116
93.8%
325
174,441
94.0%
2004
225,773
213,009
94.3%
240
213,249
94.5%
2005
251,772
237,184
94.2%
98
237,282
94.2%
2006
307,068
293,129
95.5%
109
293,238
95.5%
2007
362,568
344,945
95.1%
1,522
346,467
95.6%
2008
343,906
325,722
94.7%
1,191
326,913
95.1%
2009
329,070
312,096
94.8%
2,546
314,642
95.6%
2010
314,176
297,953
94.8%
1,355
299,308
95.3%
2011
275,704
260,961
94.7%
-
260,961
94.7%
Source: Tax Collector Annual Report
151
COLLIER COUNTY, FLORIDA
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
(amounts expressed in thousands)
(unaudited)
Governmental Activities Business -type Activities
General Loans and Loans and Total Percentage
Fiscal Obligation Revenue Notes Capital Revenue Notes Capital Primary of Personal Per
Year Bonds Bonds Payable Leases Bonds Payable Leases Government Income' Capital
2002
S 795
$ 85,185
$ 9,256
$ 791
$ 78,725
$ 40,369 $
327 $
215,448
2.11%
848
2003
-
176,775
8,486
279
71,505
55,335
165
312,545
2.86%
1,179
2004
-
208,980
51,649
108
66,860
74,545
73
402,215
3.47%
1,458
2005
32,815
444,375
14,030
82
62,515
113,067
25
666,909
5.61%
2,331
2006
29,530
429,735
51,546
1,029
58,060
124,629
-
694,529
5.46%
2,341
2007
25,815
409,620
57,331
897
163,630
106,932
68
764,293
5.02%
2,483
2008
27,830
394,145
103,461
752
158,885
103,903
618
789,594
4.39%
2,521
2009
36,719
377,940
89,590
599
153,980
106,935
492
766,255
3.86%
2,443
2010
29,162
421,285
19,689
439
148,983
106,509
636
726,703
3.68%
2,303
2011
14,280
402,040
16,914
269
144,014
99,518
387
677,422
3.54%
2,126
'See the Schedule of Demographic and Economic Statistics for personal income and population data.
152
COLLIER COUNTY, FLORIDA
RATIOS OF GENERAL BONDED DEBT OUTSTANDING
LAST TEN FISCAL YEARS
(unaudited)
Percentage of
Estimated
General Less: Amounts Actual Taxable
Fiscal Obligation Available in Debt Value' of Per
Year Bonds Service Fund Total Property Capital
2002
$ 795,000 $
76,461
$ 718,539
0.002%
3
2003
-
-
-
-
-
2004
-
-
-
-
-
2005
32,815,000
21,935
32,793,065
0.057%
107
2006
29,530,000
22,576
29,507,424
0.043%
90
2007
25,815,000
4,312
25,810,688
0.030%
77
2008
27,830,000
374,496
27,455,504
0.030%
82
2009
36,719,204
451,641
36,267,563
0.041%
109
2010
29,161,925
496,997
28,664,928
0.036%
86
2011
14,280,000
401,748
13,878,252
0.020%
43
1See the Schedule of Assessed Value and Estimated Actual Value of Taxable Property for property value data.
2See the Schedule of Demographic and Economic Statistics population data.
153
COLLIER COUNTY, FLORIDA
LEGAL DEBT MARGIN INFORMATION
AS OF SEPTEMBER 30, 2011
(unaudited)
The Constitution of the State of Florida, Florida Statute 200.181 and Collier County set no legal debt limit.
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF SEPTEMBER 30, 2010
(unaudited)
Percentage
Net Debt Applicable to This
Governmental Entity Outstanding (1) Governmental Unit
Direct Debt:
Debt repaid with property taxes: County $ 13,878,252 100.00%
Overlapping:
Overlapping debt for governmental entities within Collier County is not presented.
(1) Excludes amounts available in Debt Service Funds for payment of interest and principal.
154
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COLLIER COUNTY, FLORIDA
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
(unaudited)
Per Capita
Fiscal Personal Personal Median School Unemployment
Year Population(1) Income(2) Income(2) Age(3) Enrollment(4) Rate(5)
2002
264,475
$ 10,197,520,000 $
40,121
40.5
37,110
4.2%
2003
284,918
10,940,352,000
41,269
44.1
38,196
4.7%
2004
292,466
11,601,373,000
42,050
45.2
40,416
3.9%
2005
306,186
11,878,015,000
41,513
45.6
41,232
3.6%
2006
326,658
12,711,343,000
42,846
44.7
43,000
2.7%
2007
333,858
15,236,905,000
49,492
44.5
42,722
3.5%
2008
332,854
17,990,169,000
57,446
44.8
42,711
5.5%
2009
333,032
19,846,737,000
63,276
45.1
42,822
10.0%
2010
331,800
19,739,453,000
62,559
45.2
43,142
12.2%
2011
321,520
19,127,928,000
60,049
45.9
43,343
11.4%
Sources: (1) www.fred.labormarketinfo.com
(2) www.fred.labormarketinfo.com
(3) Florida Statistical Abstract (Table 1.51)
(4) Collier County School Board, based on full time equivalent enrollment
(5) www.floridajobs.org
156
COLLIER COUNTY, FLORIDA
PRINCIPAL EMPLOYERS
(Unaudited)
2011 2002
Sources: www.eflorida.com
Collier County Finance Department, Tax Collector, Property Appraiser and Collier County Sheriff Finance Department
2002 Collier County Adopted Budget
Florida Department of labor & Employment; Bureau of Labor Market Information ES -202 report for 2002 and 2010.
157
Percent of
Percent of
Total County
Total County
Employer
Employees
Rank
Employment
Employees
Rank
Employment
Collier County Public Schools
5,451
1
5.16%
4,908
1
4.70%
NCH Healthcare System
3,007
2
2.85%
2,269
2
2.17%
Publix Supermarkets
2,214
3
2.10%
2,221
3
2.13%
Collier County Government (excl. Sheriff)
2,184
4
2.07%
2,091
4
2.00%
Wal -Mart
1,547
5
1.47%
-
Collier County Sheriff's Office
1,387
6
1.31%
1,023
S
0.98%
Marriott Corporation
743
7
0.70%
-
Fifth Third Bank
733
8
0.69%
-
Naples Grande Resort (Registry Resort)
605
9
0.57%
750
7
0.72%
Barron Collier Partnership
600
10
0.57%
-
Ritz Carlton Hotel
-
870
6
0.83%
Winn Dixie Stores, Inc.
700
8
0.67%
Bentley Resort
-
550
9
0.53%
Moorings Park
-
-
485
10
0.47%
Other employers
87,114
82.51%
88,521
84.80%
Totals
105,585
100.00%
104,388
100.00%
Sources: www.eflorida.com
Collier County Finance Department, Tax Collector, Property Appraiser and Collier County Sheriff Finance Department
2002 Collier County Adopted Budget
Florida Department of labor & Employment; Bureau of Labor Market Information ES -202 report for 2002 and 2010.
157
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160
SINGLE AUDIT /FEDERAL AND STATE
SCHEDULE OF FINANCIAL ASSISTANCE
The Single Audit /Federal and State schedule of financial assistance section presents Grants
compliance reports filed by Collier County with Federal government and State government,
respectively.
THIS PAGE INTENTIONALLY LEFT BLANK
ERNST & YOUNG Ernst &Young LLP
=I
Suite 500
5100 Town Center Circle
Boca Raton, FL 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Report of Independent Certified Public Accountants 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
Members of the Board of County Commissioners
Collier County, Florida
We have audited 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 (the County) as of and for the
year ended September 30, 2011, which collectively comprise the County's basic financial
statements and have issued our report thereon dated February 29, 2012. We conducted our audit
in accordance with auditing standards generally accepted in the United States and the standards
applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States.
Internal control over financial reporting
Management of the County is responsible for establishing and maintaining effective internal
control over financial reporting. In planning and performing our audit, we considered the
County's internal control over financial reporting as a basis for designing our auditing
procedures 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 County's internal control over
financial reporting. Accordingly, we do not express an opinion on the effectiveness of the
County's internal control over financial reporting.
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 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.
Our consideration of internal control over financial reporting 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 deficiencies, significant deficiencies or material weaknesses. We
did not identify any deficiencies in internal control over financial reporting that we consider to
be material weaknesses, as defined above.
1202 - 1333029 163
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4<<,
=1 FRNST &YOUNG
I
III
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County's financial statements are
free of 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 determination of financial statement amounts. 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.
We noted certain matters that we reported to management of the County in a separate letter dated
February 29, 2012.
This report is intended solely for the information and use of management, the Board of County
Commissioners, others within the entity, the Auditor General of the State of Florida, federal and
state awarding agencies and pass- through entities and is not intended to be and should not be
used by anyone other than these specified parties.
February 29, 2012
1202 - 1333029
-f "7 UP
A member firm of Ernst & Young Global Limited
164
(�Jill 11111111111 E ERN
,III S T &i N
OU G
Ernst & Young LLP
Suite 500
5100 Town Center Circle
Boca Raton, FL 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Report of Independent Certified Public Accountants on Compliance With
Requirements That Could Have a Direct and Material Effect on Each Major
Federal Program and State Project and on Internal Control Over Compliance in
Accordance With OMB Circular A -133, Section 215.97, Florida Statutes, and
Chapter 10.550, Rules of the Auditor General
Members of the Board of County Commissioners
Collier County, Florida
Compliance
We have audited Collier County, Florida's (the County) compliance with the types of
compliance requirements described in the US Office of Management and Budget (OMB)
Circular A -133 Compliance Supplement, and the requirements described in the Department of
Financial Service's State Projects Compliance Supplement, that could have a direct and material
effect on each of County's major federal programs and state projects for the year ended
September 30, 2011. The County's major federal programs and state projects are identified in the
summary of auditor's results section of the accompanying schedule of findings and questioned
costs. Compliance with the requirements of laws, regulations, contracts and grants applicable to
each of its major federal programs and state projects is the responsibility of the County's
management. Our responsibility is to express an opinion on the County's compliance based on
our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted
in the United States; the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States; OMB Circular
A -133, Audits of States, Local Governments, and Non - Profit Organizations; Section 215.97,
Florida Statutes (Section 215.97); and Chapter 10.550, Rules of the Auditor General, State of
Florida (Chapter 10.550). Those standards, OMB Circular A -133, Section 215.97 and Chapter
10.550 require that we plan and perform the audit to obtain reasonable assurance about whether
noncompliance with the types of compliance requirements referred to above that could have a
direct and material effect on a major federal program or state project occurred. An audit includes
examining, on a test basis, evidence about the County's compliance with those requirements and
performing such other procedures as we considered necessary in the circumstances. We believe
that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal
determination of the County's compliance with those requirements.
1202 - 1333029 165
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Illlllllllllllllui�������� " " "
JEaNSr &YOUNG
The County did not comply with the types of compliance requirements that are applicable to
each major federal program as described in the accompanying schedule of findings and
questioned costs and referenced by finding number below:
Compliance
CFDA Number Major Program Requirement Finding Reference
Community
Development Block
Grants/Entitlement
14.218 Grants
Summer Food Service
10.559 Program for Children
Cash Management 2011 -1, 2011 -6
Allowable Costs /Cost
Principles
2011 -1, 2011 -8
Reporting
2011 -2
Subrecipient
Monitoring
2011 -3
Special Tests and
Provisions
2011 -4
Procurement,
Suspension and
Debarment
2011 -5
Program Income
2011 -6
Allowable Costs /Cost
Principles 2011 -10
Cash Management 2011 -11
Compliance with such requirements is necessary, in our opinion, for the County to comply with
the requirements applicable to those programs.
In our opinion, because of the effects of the noncompliance described in the table above, the
County did not comply in all material respects, with the requirements referred to above that
could have a direct and material effect on the Community Development Block
Grants/Entitlement Grants (CFDA No. 14.218) and the Summer Food Service Program for
Children (CFDA No. 10.559) federal programs for the year ended September 30, 2011.
1202- 1333029
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166
IIIIIIIInii ^ "" JERNST &YOUNG
The County did not comply with the types of compliance requirements that are applicable to
each major federal program or state project as described in the accompanying schedule of
findings and questioned costs and referenced by the finding numbers below:
CFDA /CSFA Compliance
Number Major Program Requirement Finding Reference
Compliance with such requirements is necessary, in our opinion, for the County to comply with
the requirements applicable to those programs.
1202 - 1333029
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167
Community
Development Block
14.228
Grant /State's Program
Cash Management
2011 -1
Reporting
2011 -2
Special Tests and
Provisions
2011 -4
Allowable Costs /Cost
Principles
2011 -8
ARRA: Homelessness
Prevention and Rapid
Subrecipient
14.257
Re- Housing Program
Monitoring
2011 -3
Cash Management
2011 -1
State Housing Initiatives
52.901
Partnership Program
Reporting
2011 -2
Allowable Costs /Cost
Principles
2011 -8
Florida Boating
Improvement
77.006
Program
Matching
2011 -7
Reporting
2011 -9
Community Care for
Allowable Costs /Cost
65.010
the Elderly Program
Principles
2011 -8
Compliance with such requirements is necessary, in our opinion, for the County to comply with
the requirements applicable to those programs.
1202 - 1333029
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I" JERNST &YOUNG
Also, in our opinion, except for the noncompliance described in the table above, the County
complied, in all material respects with the compliance requirements referred to above that could
have a direct and material effect on the following federal programs and state projects:
Community Development Block Grant/State's Program (CFDA No. 14.228), ARRA:
Homelessness Prevention and Rapid Re- Housing Program (CFDA No. 14.257), State Housing
Initiatives Partnership Program (CSFA No. 52.901), Florida Boating Improvement Program
(CSFA No. 77.006), and Community Care for the Elderly Program (CSFA No. 65.010) for the
year ended September 30, 2011.
Moreover, in our opinion, the County complied, in all material respects, with the compliance
requirements referred to in the first paragraph that could have a direct and material effect on each
of its other major federal programs and state projects other than those referred to in the two
preceding tables for the year ended September 30, 2011.
Internal control over compliance
The management of the County is responsible for establishing and maintaining effective internal
control over compliance with the requirements of laws, regulations, contracts and grants
applicable to federal programs and state projects. In planning and performing our audit, we
considered the County's internal control over compliance with requirements that could have a
direct and material effect on a major federal program or state project to determine the auditing
procedures for the purpose of expressing our opinion on compliance and to test and report on
internal control over compliance in accordance with OMB Circular A -133, Section 215.97, or
Chapter 10.550, but not for the purpose of expressing an opinion on the effectiveness of internal
control over compliance. Accordingly, we do not express an opinion on the effectiveness of the
County's internal control over compliance.
Our consideration of internal control over compliance was for the limited purpose described in
the preceding paragraph and was not designed to identify all deficiencies in internal control over
compliance that might be significant deficiencies or material weaknesses and therefore, there can
be no assurance that all deficiencies, significant deficiencies, or material weaknesses have been
identified. However, as discussed below, we identified certain deficiencies in internal control
over compliance that we consider to be material weaknesses.
1202- 1333029 168
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=I ERNST & YOUNG
A deficiency in internal control over compliance 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, 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 combination of deficiencies, in internal
control over 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. We consider the deficiencies in internal
control over compliance described in the accompanying schedule of findings and questioned
costs as items 2011 -1 to 2011 -11 to be material weaknesses.
The County's responses to the findings identified in our audit are described in the accompanying
schedule of findings and questioned costs. We did not audit the County's responses and,
accordingly, we express no opinion on the responses.
This report is intended solely for the information and use of management, the Board of County
Commissioners, others within the entity, the Auditor General of the State of Florida, federal and
state awarding agencies, and pass - through entities and is not intended to be and should not be
used by anyone other than these specified parties.
February 29, 2012
1202 - 1333029
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169
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
See accompanying notes to the schedule of expenditures of federal awards and state projects.
170
CFDA #/
Transfers to
Federal or State Grantor /Pass- Through Grantor Program Title
CSFA #
Grant/Contract Number
Expenditures
Subrecipients
Department of Agriculture
Direct Programs:
Rural Development:
Rural Business Enterprise Grants
10.769
09 -011- 596000558
$ 378,147
$
Indirect Programs:
Florida Department of Education:
Summer Food Service Program for Children
10.559
04 -0804
617,280
Florida Department of Agriculture and Consumer Services:
Cooperative Forestry Assistance
10.664
16421
12,248
Cooperative Forestry Assistance
10.664
Collier County - Isle of Capri
4,680
Cooperative Forestry Assistance
10.664
Collier County - Ochopee
2,063
Total CFDA
18,991
Total Department of Agriculture
1,014,418
Department of Commerce
Indirect Programs:
Florida Department of Community Affairs:
Public Safety Interoperable Communications Grant Program
11.555
11- DS- BD-09 -21 -01 -281
1,376,565
Total Department of Commerce
1,376,565
Department of Housina and Urban Development
Direct Programs:
Office of Community Planning and Development:
CDBG - Entitlement Grants Cluster:
Community Development Block Grants / Entitlement Grants
14.218
8 -02 -UC -12 -0016
5,160
Community Development Block Grants / Entitlement Grants
14.218
B- 04 -UC -12 -0016
2,650
-
Community Development Block Grants / Entitlement Grants
14.218
B -08 -UC -12 -0016
73,234
73,200
Community Development Block Grants / Entitlement Grants
14.218
B -08 -UN -12 -0003
2,086,331
-
Community Development Block Grants / Entitlement Grants
14.218
B -09 -UC -12 -0016
308,272
303,324
Community Development Block Grants / Entitlement Grants
14.218
B- 10 -UC -12 -0016
668,253
242,370
Total CFDA
3,143,900
618,894
ARRA Community Development Block Grant ARRA Entitlement Grants
14.253
ARRA B -09 -UY -12 -0016
34,930
27,000
Total CDBG - Entitlement Grants Cluster
3,178,830
645,894
Emergency Shelter Grants Program
14.231
S- 09 -UC -12 -0024
6,405
6,405
Emergency Shelter Grants Program
14.231
S- 10 -UC -12 -0024
87,684
87,684
Total CFDA
94,089
94,089
Supportive Housing Program
14.235
FL0294B413060801
231
-
Supportive Housing Program
14.235
FL029484DO60802
65,617
Supportive Housing Program
14.235
FL0294B4DO61003
28,309
-
Supportive Housing Program
14.235
FL029584DO60801
19,133
19,133
Supportive Housing Program
14.235
FL029504DO60802
49,383
49,383
Supportive Housing Program
14.235
FL029684DO60801
41,984
39,294
Supportive Housing Program
14.235
F1.029684D060802
31,943
29,523
Supportive Housing Program
14.235
FL0296B4D061003
156
-
Total CFDA
236,756
137,333
Home Investment Partnerships Program
14.239
M- 07 -UC -12 -0217
6,954
-
Home Investment Partnerships Program
14.239
M -09 -UC -12 -0217
139,333
138,710
Home Investment Partnerships Program
14.239
M- 10 -UC -12 -0217
110,249
61,673
Total CFDA
256,536
200,383
ARRA Homelessness Prevention and Rapid Re- Housing Program (HPRP)
14.257
ARRA S09 -UY -12 -0024
382,268
382,219
(Continued)
See accompanying notes to the schedule of expenditures of federal awards and state projects.
170
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
171
CFDA #/
Transfers to
Federal or State Grantor /Pass - Through Grantor Program Title
CSFA #
Grant/Contract Number
Expenditures
Subrecipients
Indirect Programs:
Florida Department of Community Affairs:
Community Development Block Grants / State's Program
14.228
07DB3VO92101Z01
$ (1,254)
$
Community Development Block Grants / State's Program
14.228
08DBD3092301A03
10,088
Community Development Block Grants / State's Program
14.228
10- DB- D4- 09- 21- 01 -K09
645,610
Total CFDA
654,444
Total Department of Housing and Urban Development
4,802,923
1,459,918
Department of the Interior
Direct Programs:
Bureau of Land Management:
Payments in Lieu of Taxes
15.226
Collier County
1,240,307
Fish and Wildlife Service:
Coastal Program
15.630
4018151021
50,000
Partners for Fish and Wildlife
15.631
401815JO21
44,145
Total Department of the Interior
1,334,452
Department of Justice
JAG Program Cluster:
Direct Programs:
ARRA Recovery Act - Edward Byrne Memorial Justice Assistance Grant
(JAG) Program/ Grants to Units Of Local Government
16.804
ARRA 2009 -SB-89 -1969
8,107
Bureau of Justice Assistance:
Edward Byrne Memorial Justice Assistance Grant Program
16.738
2008 -DJ -BX -0340
2,312
Edward Byrne Memorial Justice Assistance Grant Program
16.738
2009 -DJ -BX -0335
132,272
Edward Byrne Memorial Justice Assistance Grant Program
16.738
2010 -DJ -BX -0576
109,052
Indirect Programs:
Florida Department of Law Enforcement:
Edward Byrne Memorial Justice Assistance Grant Program
16.738
2010 -JAGC- COLL -I -4X -221
12,265
Edward Byrne Memorial Justice Assistance Grant Program
16.738
2011 - JAGC- COLL -1 -82 -213
157,202
Total CFDA
413,103
ARRA Recovery Act - Edward Byrne Memorial Justice Assistance Grant
(JAG) Program/ Grants to States and Territories
16.803
ARRA 2010 - ARRC - LOLL -I -W7
36,374
Total JAG Program Cluster
457,584
Direct Programs:
Office of Victims of Crime:
Services for Trafficking Victims
16.320
2005 -VT -BX -0002
1,107
-
Services for Trafficking Victims
16.320
2010 -VT -BX -0004
136,502
Total CFDA
137,609
Violence Against Women Office:
Supervised Visitation, Safe Havens for Children
16.527
2007CWAX0007
(715)
Supervised Visitation, Safe Havens for Children
16.527
2009CWAXK011
119,170
Total CFDA
118,455
Bureau of Justice Assistance:
Drug Court Discretionary Grant Program
16.585
2010 -DC -BX -0016
40,632
State Criminal Alien Assistance Program
16.606
2008 -AP -BX -0859
11,900
Office of Community Oriented Policing Services:
Public Safety Partnership and Community Policing Grants
16.710
2009CKWX0204
2,165
Public Safety Partnership and Community Policing Grants
16.710
2010CKWX0107
185,036
Total CFDA
187,201
Indirect Programs:
Florida Office of Attorney General:
Crime Victim Assistance
16.575
V10129
131,657
(Continued)
171
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
172
CFDA #/
Transfers to
Federal or State Grantor /Pass - Through Grantor Program Title
CSFA If
Grant/Contract Number
Expenditures Subreciplents
Florida Department of Children and Families:
Violence Against Women Formula Grants
16.588
12- 8008 -LE
$ 35,795 $
Violence Against Women Formula Grants
16.588
LN916
111,911
ARRA Violence Against Women Formula Grants
16.588
ARRA LN947
28,164
Total CFDA
175,870
Florida Department of Law Enforcement:
Project Safe Neighborhoods
16.609
2008 - PMAG- COLL -I -R6 -005
10,041
Total Department of Justice
1,270,949
Department of Transportation
Direct Programs:
Federal Aviation Administration (FAA):
Airport Improvement Program
20.106
3 -12- 0142 -006 -2009
101,741
Airport Improvement Program
20.106
3- 12- 0142 -008 -2010
3,599,931
Total CFDA
3,701,672
Federal Transit Administration (FTA):
Federal Transit Cluster:
Federal Transit—Capital Investment Grants
20.500
FL -03- 0264 -00
63,636
Federal Transit Capital Investment Grants
20.500
FL- 040047 -00
107,055
Federal Transit—Capital Investment Grants
20.500
FL -04- 0117 -00
26,314
Total CFDA
197,005
ARRA Federal Transit—Formula Grants
20.507
ARRA FL- 96- X019 -00
65,300
FederalTransit_Formula Grants
20.507
FL -90- X665 -00
12,047
Federal Transit—Formula Grants
20.507
FL- 90- X699 -00
166,353
FederalTransit_Formula Grants
20.507
FL -90- X731 -00
1,217,178
Total CFDA
1,460,878
Total Federal Transit Cluster
1,657,883
Indirect Programs:
Florida Department of Transportation:
Highway Planning and Construction
20.205
416237 -1 / AQ076
20,949
Highway Planning and Construction
20.205
420871 -1 / A4377
414,595
Highway Planning and Construction
20.205
423654 -1 / APD71
27,823
Highway Planning and Construction
20.205
423655 -1 / APM21
43,202
Highway Planning and Construction
20.205
425556 -1 / AQ382
76
Highway Planning and Construction
20.205
426836 -1 / AQ258
44,550
Highway Planning and Construction
20.205
427936 -1 / AQ383
8,757
Total CFDA
559,952
Metropolitan Transportation Planning
20.505
410113 -1 / AP031
37,964
Formula Grants for Other Than Urbanized Areas
20.509
410120 -1 / AOW89
505,749
ARRA Formula Grants for Other Than Urbanized Areas
20.509
ARRA 426772 -1 / API19
23,819
Total CFDA
529,568
Capital Assistance Program for Elderly Persons and
Persons with Disabilities
20.513
FL -16 -0035
234,616
Total Department of Transportation
6,721,655
Department of Treasury
Direct Programs:
Department of Treasury:
Federal Equitable Sharing
21.UNK
Collier County Sheriff
24,300
Total Department of Treasury
24,300
(Continued)
172
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
173
CFDA #/
Transfers to
Federal or State Grantor /Pass - Through Grantor Program Title
CSFA #
Grant/Contract Number
Expenditures
Subrecipients
Department of Energy
Direct Programs:
ARRA Energy Efficiency and Conservation Block Grant Program (EECBG)
81.128
ARRA DE- EEOD00783
$ 1,628,355
$
Total Department of Energy
1,628,355
U.S. Election Assistance Commission
Indirect Programs:
Florida Department of State:
Help America Vote Act Requirements Payments
90.401
Collier County - FY 2006 -2007
2,439
Help America Vote Act Requirements Payments
90.401
Collier County - FY 2007 -2008
7S6
Help America Vote Act Requirements Payments
90.401
Collier County - FY 2008 -2009
53,534
Total U.S. Election Assistance Commission
56,729
Department of Health and Human Services
Direct Programs:
Health Resources and Services Administration:
Health Care and Other Facilities
93.887
C76HF15996
46,475
-
Speciaily Selected Health Projects
93.888
DlARH2O098
67,970
67,970
Specially Selected Health Projects
93.888
D181T30769
159,988
Total CFDA
227,958
67,970
Indirect Programs:
Florida Department of Elder Affairs - Area Agency on Aging for
Southwest Florida, Inc.:
Aging Cluster:
Special Programs for the Aging_Tltle III, Part B Grants for
Supportive Services and Senior Centers
93.044
OAA 203.010
16,370
Special Programs for the Aging_Tltie III, Part B_Grants for
Supportive Services and Senior Centers
93.044
OAA 203.2011
54,826
Total CFDA
71,196
Special Programs for the Aging_Title III, Part C_Nutrition Services
93.045
OAA 203.010
64,659
Special Programs for the Aging_Titie III, Part C Nutrition Services
93.045
OAA 203.2011
278,266
Total CFDA
342,925
Nutrition Services Incentive Program
93.053
NSIP 203.10
35
Nutrition Services Incentive Program
93.053
NSIP 203.11
30,219
Total CFDA
30,254
Total Aging Cluster
444,375
National Family Caregiver Support, Title III, Part E
93.052
OAA 203.010
2,680
National Family Caregiver Support, Title III, Part E
93.052
OAA 203.2011
41,904
Total CFDA
44,584
Florida Department of Revenue:
Child Support Enforcement
93.563
CD311
200,241
Florida Department of State:
Voting Access for Individuals with Disabilities—Grants to States
93.617
2010 - 2011 -0002
9,912
Florida Department of Transportation - Commission for the
Transportation Disadvantaged:
Medical Assistance Program
93.778
416043 -1 / BDM59
505,235
-
Total Department of Health and Human Services
1,478,780
67,970
Corporation for National and Community Service
Direct Programs:
Retired and Senior Volunteer Program
94.002
09SRSFLO17
55,341
-
Total Corporation for National and Community Service
55,341
(Continued)
173
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
174
CFDA #/
Transfers to
Federal or State Grantor /Pass- Through Grantor Program Title
CSFA #
Grant /Contract Number
Expenditures
Subrecipients
Department of Homeland Security
Indirect Programs:
Florida Department of Community Affairs:
Disaster Grants - Public Assistance (Presidentially Declared
Disasters)
97.036
06- WL- &K -09 -21 -01 -692
$ 187,271
$
Disaster Grants - Public Assistance (Presidentially Declared
Disasters)
97.036
08- FA- B9- 09 -21- 00-509
17,915
Total CFDA
205,186
Hazard Mitigation Grant
97.039
30HM- 88- 09 -21 -01 -008
63,550
Hazard Mitigation Grant
97.039
11HM- 3E -09 -21 -01 -005
47,082
Hazard Mitigation Grant
97.039
1OHM- 88 -09- 21 -01 -010
85,183
Hazard Mitigation Grant
97.039
11HM- 3E -09 -21 -01-004
46,943
Total CFDA
242,758
Emergency Management Performance Grants
97.042
11- FG- 7W- 09- 21 -01 -030
92,701
Homeland Security Grant Program
97.067
11- DS- 29- 09 -21 -01 -240
16,729
Florida Department of Law Enforcement:
Homeland Security Grant Program
97.067
2007 - LETP - COLL -1Q4 -005
200,000
Homeland Security Grant Program
97.067
2007 - LETP - COLL -2Q4 -003
200,000
Homeland Security Grant Program
97.067
2008 -LETP- COLL -lS3 -017
114,102
Homeland Security Grant Program
97.067
2008 - SHSP - COLL -1S4 -010
25,562
Total CFDA
556,393
Total Department of Homeland Security
1,097,038
TOTAL EXPENDITURES OF FEDERAL AWARDS
$ 20,861,505
$ 1,527,888
Florida Department of Environmental Protection
Voluntary Cleanup Tax Credit (VCTC) Program
37.056
278
$ 25,790
$
Total Florida Department of Environmental Protection
25,790
Florida Department of State and Secretary of State
State Aid to Libraries
45.030
07 -ST -12
107,291
State Aid to Libraries
45.030
08 -ST -12
179,320
State Aid to Libraries
45.030
09 -ST -10
4,750
Total Florida Department of State and Secretary of State
291,361
Florida Department of Community Affairs
Emergency Management Programs
52.008
11- BG -05- 09 -21 -01 -130
77,043
Emergency Management Programs
52.008
12- BG -05- 09- 21 -01 -011
43,511
Total CFDA
120,554
Emergency Management Projects
52.023
11- CP- 03 -09 -21 -01 -221
7,300
Total Florida Department of Community Affairs
127,854
-
Florida Housina Finance Corporation
State Housing Initiatives Partnership (SHIP) Program
52.901
Collier County / Naples
466,690
42,701
Total Florida Housing Finance Corporation
466,690
42,701
Florida Department of Transportation
Commission for the Transportation Disadvantaged (CTD) Trip
and Equipment Grant Program
55.001
20724618401 /20724638401/APZ63
440,451
Commission for the Transportation Disadvantaged (CTD) Trip
and Equipment Grant Program
55.001
20724618401/20724638401/AQ816
156,387
Total CSFA
596,838
(Continued)
174
COLLIER COUNTY, FLORIDA
SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS AND STATE PROJECTS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2011
175
CFDA #/
Transfers to
Federal or State Grantor /Pass- Through Grantor Program Title
CSFA #
Grant /Contract Number
Expenditures
Subrecipients
Commission for the Transportation Disadvantaged (CTD)
Planning Grant Program
55.002
20724621401 / AQB39
$ 92
$
Commission for the Transportation Disadvantaged (CTD)
Planning Grant Program
55.002
20724621401 / AQ034
17,402
TotaICSFA
17,494
Aviation Development Grants
55.004
206430 -1 / A1935
6,615
Aviation Development Grants
55.004
414298 -1 / AOV99
14,481
Aviation Development Grants
55.004
414299 -1 / AOR09
37,279
Aviation Development Grants
55.004
414299 -1 / AOR09
106,775
Aviation Development Grants
55.004
425515 -1 / AQ122
400
Total CSFA
165,550
Public Transit Block Grant Program
55.010
410139 -1 / AOW93
902,706
intermodal Development Program
55.014
420353 -1 / APF60
156,209
State Infrastructure Bank
55.020
420655 -2 / EIF59
1,875,930
Transportation Regional Incentive Program (TRIP)
55.026
425477 -1
2,914,908
Total Florida Department of Transportation
6,629,635
Florida Department of Children and Families
Homeless Challenge Grant
60.014
HFZ1D
25,887
10,324
Public Safety, Mental Health, and Substance Abuse Local
Matching Grant
60.115
LHZ25
22,261
-
Total Florida Department of Children and Families
48,148
10,324
Florida Department of Health
County Grant Awards
64.005
C8011
18,936
-
County Grant Awards
64.005
C9011
16,090
Total Florida Department of Health
35,026
Florida Department of Elder Affairs
Area Agency on Aging for Southwest Florida, Inc:
Home Care for the Elderly
65.001
HCE 203.10
2,922
Home Care for the Elderly
65.001
HCE 203.11
317
Total CSFA
3,239
Alzheimer's Respite Services
65.004
ADI 203.10
101,842
Alzheimer's Respite Services
65.004
ADI 203.11
41,356
Total CSFA
143,198
Community Care for the Elderly (CCE)
65.010
CCE 203.11
135,644
Community Care for the Elderly (CCE)
65.010
CCE 203.10
544,546
Total CSFA
680,190
Total Florida Department of Elder Affairs
826,627
Florida Fish and Wildlife Conservation Commission
Florida Boating Improvement Program
77.006
08079
276,492
Florida Boating Improvement Program
77.006
10235
11,980
Total Florida Fish and Wildlife Conservation Commission
288,472
-
TOTAL EXPENDITURES OF STATE FINANCIAL ASSISTANCE
$ 8,739,603
$ 53,025
175
Collier County, Florida
Notes to the Schedule of Expenditures of Federal
Awards and State Projects
Year Ended September 30, 2011
1. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards and State Projects (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 U.S. Office
of Management and Budget (OMB) Circular A -133, Audits of States, Local Governments, and
Non - Profit Organizations, 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, 2011.
2. State Infrastructure Bank Loan
Collier County received a $12,000,000 State Infrastructure Bank Loan from the Florida
Department of Transportation in fiscal year 2008 for construction of the I- 75 /Immokalee Road
interchange. The Florida Department of Transportation included this project with their
concurrent widening of I -75 and retained the loan proceeds to fund the project. Accordingly, the
County's expenditures for purposes of reporting on the Schedule consist of principal loan
repayments only ($1,875,930 for fiscal year 2011) as no proceeds were received under the loan
and no project expenditures were incurred or paid directly by the County. The current balance of
the loan as of September 30, 2011 is $6,327,545.
The repayment schedule for this loan is as follows:
Payment Date Principal
10/1/2008
1,957,377
10/1/2009
1,839,148
10/1/2010
1,875,930
10/1/2011
1,913,449
10/1/2012
4,414,096
$
122000,000
Interest
82,623
200,852
164,070
126,551
88,282
$ 6622378 $
Total
2,040,000
2,040,000
2,040,000
2,040,000
4,502,378
12,662,378
1202 - 1333029 176
Collier County, Florida
Notes to the Schedule of Expenditures of Federal
Awards and State Projects
3. 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. In the opinion of
management, all grant expenditures are in compliance with the terms of the grant agreements and
applicable federal and state laws and regulations.
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.
1202- 1333029 177
Collier County, Florida
Schedule of Findings and Questioned Costs
For the Year Ended September 30, 2011
Part I — Summary of Auditor's Results
Financial Statements Section
Type of auditor's report issued: Unqualified
Internal control over financial reporting:
Material weakness(es) identified?
Significant deficiency(ies) identified that are not
considered to be material weaknesses?
Noncompliance material to financial statements
noted?
Federal Awards and State Projects Section
Internal control over major programs:
Material weakness(es) identified?
Significant deficiency(ies) identified that are not
considered to be material weaknesses?
Type of auditor's report issued on compliance
for major programs:
Yes X No
Yes X None reported
Yes X No
X Yes No
Yes X None reported
Adverse for the Community Development
Block Grants/Entitlement Grants (CFDA#
14.218) and the Summer Food Service
Program for Children (CFDA# 10.559);
Qualified for the Community Development
Block Grant/State's Program (CFDA#
14.228), the ARRA: Homelessness
Prevention and Rapid Re- Housing Program
(CFDA# 14.257), the State Housing
Initiatives Partnership Program (CSFA#
52.901), the Florida Boating Improvement
Program (CSFA #77.006), and the
Community Care for the Elderly Program
(CSFA #65.010); and Unqualified for all
other major federal programs and state
projects
1202 - 1333029 178
Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Any audit findings disclosed that are required to
be reported in accordance with section .510(a) of
OMB Circular A -133, Section 215.97, Florida
Statutes, and Chapter 10.550, Rules of the
Auditor General, State of Florida? X Yes No
Identification of major federal programs:
Federal Programs
CFDA Number Federal Agency/Name of Federal Program
U.S. Department of Housing and Urban Development:
14.218, 14.253 CDBG — Entitlement Grants Cluster
Community Development Block Grant / State's
14.228 Program (DRI)
ARRA: Homelessness Prevention and Rapid Re-
housing Program (HPRP) (Recovery Act
14.257 Funded)
U.S. Department of the Interior Bureau of Land
Management:
15.226 Payment in Lieu of Taxes
U.S. Department of Commerce:
Public Safety Interoperable Communications
11.555 Grant Program
U.S. Department of Transportation:
20.106 Airport Improvement Program
U.S. Department of Homeland Security:
97.067 Homeland Security Grant Program
U.S. Department of Agriculture:
10.559 Summer Food Service Program for Children
1202 - 1333029 179
Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Identification of major state projects:
State Projects
CSFA Number State Agency/Name of State Project
Florida Housing Finance Corporation:
52.901 State Housing Initiatives Partnership Program (SHIP)
Florida Department of Transportation:
Commission for the Transportation Disadvantaged
55.001 (CTD) Trip and Equipment Grant Program
55.020
55.026
65.010
77.006
Dollar threshold used to distinguish
between Type A and Type B
programs:
• Federal Programs
• State Projects
Auditee qualified as low -risk auditee?
State Infrastructure Bank Loan Program
Transportation Regional Incentive Program (TRIP)
Florida Department of Elder Affairs:
Community Care for the Elderly
Florida Fish and Wildlife Conservation Commission:
Florida Boating Improvement Program
$623,238
$300,000
Yes X No
1202 - 1333029 180
Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Part II — Financial Statement Findings Section
This section identifies the significant deficiencies, material weaknesses, fraud, illegal acts,
violations of provisions of contracts and grant agreements, and abuse related to the financial
statements for which Government Auditing Standards require reporting.
No such matters were identified.
Part III — Federal Awards and State Projects
Findings and Questioned Costs Section
This section identifies the audit findings required to be reported by Circular A -133
section .510(a), Section 215.97, Florida Statutes, and Chapter 10.550, Rules of the Auditor
General, State of Florida, such as material weaknesses, significant deficiencies, and material
instances of noncompliance, including questioned costs, as well as any abuse findings involving
federal awards or state projects that are material to a major program.
Finding 2011 -1
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants/Entitlement Grants (CDBG)
CFDA No. 14.218
Community Development Block Grant/State's Program (DRI)
CFDA No. 14.228
U.S. Department of Housing and Urban Development
ARRA: Homelessness Prevention and Rapid Re- Housing Program (HPRP)
CFDA No. 14.257
Criteria
Allowable Costs; Cash Management: In accordance with OMB Circular A -102 Common Rule,
the County's methods and procedures for transferring funds should minimize the time elapsing
between the transfer to the County of grant funds and when the disbursement was paid by the
County. In addition, when awards are funded on a reimbursement basis, costs for which
reimbursement was requested should be paid prior to the date of the reimbursement request.
1202- 1333029 181
Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Condition /Context
For the "Community Development Block Grants /Entitlement Grants (CDBG) "program and the
"Community Development Block/Grant State's Program (DRI) ", we noted several instances
listed below where there was a significant time lag between when the County paid for
disbursements and when the disbursement was requested for reimbursement.
Grant
Amount of
Cash
Drawdown
Date of Request
for Cash
Drawdown
Date of Oldest
Expenditure
Paid by
County in
Cash
Drawdown
Difference
in Days
NSP CDBG
1,052,304.06
6/2/2011
1/31/2010
487
NSP (CDBG)
818,750.63
7/1/2011
6/24/2010
372
NSP (CDBG)
179,100.35
7/l/2011
7/8/2010
358
CDBG
233,839.26
2/24/2011
7/9/2010
230
CDBG
125,762.40
2/15/2011
9/28/2010
140
CDBG
319,009.64
2/15/2011
9/28/2010
140
CDBG
74,448.22
2/24/2011
4/24/2009
671
CDBG
55,000.00
2/15/2011
11/18/2010
89
CDBG
100,427.62
9/21/2011
4/28/2011
146
CDBG
103,474.00
9/23/2011
4/13/2011
163
DRI
40,741.48
3/3/2011
7/9/2010
237
Further for the CDBG grant program, we noted items were certified to be 100% complete by
contractors, were requested for full payment in signed affidavits, and authorized for full payment
by Housing, Human & Veteran Services (HHVS) staff, who certified on the disbursement
authorization form that a site inspection was conducted and the work was 100% complete,
without all work having been completed for 24 homes, as observed during physical inspections
of the NSP properties by the Internal Audit Department of the Clerk of the Circuit Court. The bid
line value for incomplete work ranged from $1,038 to $12,101 across all findings, and was not
specific to one contractor.
1202- 1333029 182
Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Also, upon Internal Audit's review of new air conditioning systems installed versus the bid
specifications, it was noted that four systems did not conform to the bid requirements and one
could not be verified. The systems in question required SEER and/or heat kilowatt ratings that
were higher than the actual ratings of the systems installed by the contractors. The purpose of
using certain minimum Energy Star and SEER ratings for A/C systems used in the rehabilitation
process is to ensure the utility bills will remain affordable for the homeowner, as required by
HUD grant guidelines.
Other substitutions were also noted, for example: a sink base cabinet was not removed and
replaced per specifications in order to save the granite counter top from being damaged. The
project manager and contractor decided to install a new tub in one of the bathrooms as a
substitute for the work not performed in the kitchen, but a change order was never completed;
therefore, the substitution was not approved.
In addition, Internal Audit noted in their investigation report that five homeowners received lawn
care services for three months after their purchase of an NSP property with a value of $1,380.
The HHVS department found the error and requested the funds be reimbursed to the county for
the services from each homeowner in letters dated February 4, 2011. To date, no funds have been
reimbursed to the County from the homeowners; however, it was further noted that the
contractor was never paid for these services by the County.
During our compliance testing over the activities allowed or unallowed/allowable costs /costs
principles attributes, we noted 10 expenditures that were for rehabilitation work for properties
that were physically inspected by Internal Audit where the work was not completed or
unapproved substitutions were made.
Also, we noted per review of the details for the cash draw downs, that part of the request for
reimbursement were for rehabilitation expenditures on properties that were investigated by
Internal Audit and determined to have questioned costs associated with them for work that was
paid for, but was not complete.
Finally, for the "ARRA: Homelessness Prevention and Rapid Re- Housing Program (HPRP) ", we
noted that for one drawdown request dated July 5, 2011, the drawdown request was made prior
to the check date of the initial expenditure, which was July 6, 2011. As such, the funds were not
expended prior to the drawdown request.
1202 - 1333029 183
Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Questioned Costs
For the CDBG program, we noted total questioned costs of $158,559 Further, for the HPRP grant
program, we noted total questioned costs of $16,370.
Cause /Effect
Drawdown or reimbursement requests were submitted to the grantor significantly past the time
that the County paid for the qualifying expenditures. There is a lack of a process to minimize the
time between disbursement and reimbursement request. In addition, drawdown or reimbursement
requests were submitted to the grantor prior to the County incurring and paying for qualifying
expenditures. This could result in reimbursement for unallowable or unsupported costs. Overall,
these resulted in non - compliance with the cash management requirements of the grant programs.
In addition, expenditures were paid by the County for rehabilitation work that was incomplete.
Internal controls over rehabilitation activities and the related approval process were not designed
or operating effectively. Signing statements saying that work is 100% complete when it is not
could result in funds being dispersed and requested for reimbursement for work that is not
completed.
Recommendation
The County should implement procedures that minimize the time elapsing between the request
for a cash drawdown and the time that the disbursements are paid by the County and that the
personnel administering the grant program comply with the County's established process,
whereby qualifying expenditures are incurred and paid for prior to requesting reimbursement
from the grantor. Also, the County should implement internal control procedures to inspect all
work prior to authorizing any payment requests to ensure that contractors have completed all
work according to the bid specifications.
Views of Responsible Officials and Planned Corrective Action
Management concurs with the recommendation of the auditors. In light of continuing audit
findings, internal audit review and other actions management was made aware of, the County
replaced the prior Director in Housing, Human and Veteran Services (HHVS) with a top
management team member in late August 2011 to restructure the entire HHVS Department and
implement effective controls, processes and procedures.
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Schedule of Findings and Questioned Costs (continued)
Realizing that this alone was not enough and wanting to effect changes throughout the entire
organization, County Manager, Leo Ochs, submitted a grants reorganization plan to the Board of
County Commissioners on January 30, 2012. In effect, all administrative grant compliance
functions were centralized at the corporate level under the Office of Management and Budget
(OMB).
This centralization will allow the entire organization to benefit from the substantial grants
accounting and compliance expertise that exist within that operation. While responsibilities for
grant program management and service delivery will remain with the operating units, the key
areas of grant compliance such as cash management, procurement, monitoring, reconciliation,
and reporting will be centrally managed and monitored across the agency.
OMB will implement this centralized grants management model in several phases over time. The
immediate focus is bringing obvious noncompliant activities, such as identified in this Single
Audit Report and prior years' reports back into adherence with grantor requirements.
OMB staff will become fully imbedded in the Agency's day to day administrative grant
functions and existing grants accountants serving under the Administrative Services Division
will be reassigned to the OMB. These employees will be deployed in key operating units to
implement consistent business processes and internal controls and carry out corrective actions.
With specific reference to the CDBG -NSP program, on December 14, 2011, agenda item l0A
the Board of County Commissioners approved a NSP strategy and associated implementation
action plan presented by HHVS. The purpose of this process is to extract Collier County from
the day -to -day operations of the NSP program by outsourcing the remaining homes to a local
agency for continuance of the program by a qualified agent. On February 28, 2012, revised
Action Plans will be submitted to the Board for approval and subsequent submittal to the U.S.
Department of Housing and Urban Development.
OMB internal controls will be developed to monitor that draws are completed on a timely basis,
no less than quarterly with a documented review of the draw amount and backup to verify that
checks have cleared prior to drawing federal funds, the draw amount reconciles to the general
ledger, work has been completed with no outstanding concerns by the Clerk, and appropriate
program income has been applied if applicable. The authorization form which verifies that work
is 100% completed will include additional backup of photos to document the work as complete
and a second attestation that the verification of work completed is true and accurate by support of
photos.
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Schedule of Findings and Questioned Costs (continued)
Finding 2011 -2
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants/Entitlement Grants (CDBG)
CFDA No. 14.218
U.S. Department of Housing and Urban Development
Community Development Block Grant/State's Program (DRI)
CFDA No. 14.228
Florida Housing Finance Corporation (the Corporation)
State Housing Initiatives Partnership Program (SHIP)
CSFA No. 52.901
Criteria
Reporting. For the "Community Development Block Grants /Entitlement Grants
(CDBG) "program, per the NSP program regulations contained in the Federal Register, each
grantee must submit a quarterly performance report, as HUD prescribes, no later than 30 days
following the end of each quarter, beginning 30 days after the completion of the first full
calendar quarter after grant award and continuing until the end of the 15th month after initial
receipt of grant funds. In addition to this quarterly performance reporting, each grantee will
report monthly on its NSP obligations and expenditures beginning 30 days after the end of the
15th month following receipt of funds, and continuing until reported total obligations are equal
to or greater than the total NSP grant. After HUD has accepted a report from a grantee showing
such obligation of funds, the monthly reporting requirement will end and quarterly reports will
continue until all NSP funds (including program income) have been expended and those
expenditures are included in a report to HUD.
The compliance supplement requires that performance reports be complete and accurate.
The County received Federal program funds as a subgrantee of the State under the "Community
Development Block/Grant State's Program (DRI) ". Per review of the State's reporting
guidelines, the subgrantee is required to submit a monthly status report. The compliance
supplement requires that performance reports are complete and accurate, which includes a
requirement that amounts reported be in agreement with accounting records that support the
audited financial statements and the SEFA.
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Schedule of Findings and Questioned Costs (continued)
For the "State Housing Initiatives Partnership Program (SHIP) ", we noted the following
reporting requirements:
• In accordance with Section 420.9075(10), Florida Statutes, each county or eligible
municipality shall submit to the Corporation by September 15 of each year a report of its
affordable housing programs and accomplishments through June 30, immediately
preceding submittal of the report.
• Annual report for the Closeout Fiscal Year (2010/2011).
• The local SHIP administrator's tracking system and annual reports must exactly match
the information recorded in the local city or county's general ledger.
• SHIP administrators, therefore, are required to regularly reconcile their tracking system
with the local finance department's general ledger. They should meet with the director of
their finance department to create a process that will ensure compliance with the single
audit act.
Condition/Context
For the CDBG grant program, we selected quarterly reports for the NSP program to test and
noted that the reports were submitted by the County and then rejected to be modified as the
amounts reported did not agree to the County's general ledger, therefore, the reports could not be
audited.
We noted that for 6 of our testing selections for the DRI grant program, which were for months
prior to July 2011, the monthly status reports were not reconciled to the general ledger and a
reconciliation was not provided. Subsequent to July 2011 we noted that these reports were
reconciled to the general ledger.
Finally, for the SHIP grant program, the County received a letter from the Florida Housing
Finance Corporation stating that the County was not in compliance with SHIP statutory
guidelines as the Annual Report was not submitted by the deadline. Further, we obtained a copy
of the Annual Report and noted that the financial information included in the report was not
reconciled to the County's general ledger. Accordingly, we were unable to validate the amount
of expenditures reported in the Annual Report.
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Schedule of Findings and Questioned Costs (continued)
Questioned Costs
M`�1%
Cause /Effect
The reports submitted were not subjected to a thorough supervisory review to ensure accuracy
and completeness, including verification that amounts reported agreed to the accounting records
or were appropriately reconciled, if necessary. This could result in incorrect and/or inconsistent
information between the reports filed and the underlying financial records and indicates that the
County may not be in compliance with the provisions of the grant programs. Further, the SHIP
grant program Annual Report was not submitted by the deadline. Internal controls with respect to
reporting were not operating effectively.
Recommendation
The County should implement internal control procedures that require that reports be reconciled
to the general ledger and reviewed and approved prior to being filed with the grantor. In addition,
procedures should be in place to ensure that the reports are submitted by the deadline.
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. With specific reference to the SHIP program,
under the direction of the newly placed Director in HHVS, one of our grant accountants worked
closely with the SHIP Technical Advisor to complete, revise and re- submit annual reports for
Fiscal Years 2006/2007, 2007/2008, and 2008/2009. These reports were presented to and
approved by the Board of County Commissioners on February 14, 2012. HHVS will continue the
use of the Technical Advisor as directed by HUD in conjunction with the Office of Management
and Budget.
With respect to the NSP program, all prior reports have been resubmitted and are awaiting
review by the grantor agency.
Overall, centralization of our key areas of grant compliance, internal controls, general ledger
reconciliations and reporting will be implemented by the County through our newly revamped
Grants Management Office under the Office of Management and Budget. See Finding 2011 -1 for
complete action plan.
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Schedule of Findings and Questioned Costs (continued)
Finding 2011 -3
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants /Entitlement Grants (CDBG)
CFDA No. 14.218
ARRA: Homelessness Prevention and Rapid Re- Housing Program (HPRP)
CFDA No. 14.257
Criteria
Subrecipient Monitoring: OMB Circular A -133 requires that the County maintain internal
controls over subrecipients to ensure that subrecipient activities are monitored, audit findings are
resolved, and the impact of any noncompliance on the County is evaluated. Additionally, the
County should perform procedures to provide reasonable assurance that the subrecipient
obtained required audits and takes appropriate corrective action on audit findings.
Condition /Context
Per review of two subrecipient files under the CDBG grant program, we noted that the 2009
audits had been obtained that showed that both subrecipients had findings in their Single Audits,
however, the County did not address management responses and corrective actions related to the
audit findings and how they may impact the funding that the County subawards them under the
grant program. In addition, we noted that other audits since the 2009 audits had either not been
obtained or disclosed findings that were not appropriately addressed.
For the HPRP grant program, the County was not obtaining and reviewing audits of
subrecipients, although, the subrecipient stated that they had audited financial statements as part
of their application for the grant subaward.
Therefore, the County did not comply with the subrecipient monitoring requirements of OMB
Circular A -133 and did not have proper internal controls in place over the process.
Questioned Costs
N/A
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Schedule of Findings and Questioned Costs (continued)
Cause /Effect
County personnel administering the grant program were not aware of the specific subrecipient
monitoring requirements of OMB Circular A -133. Failure to perform proper monitoring
activities can result in non - compliance with subrecipient monitoring requirements of OMB
Circular A -133 and misuse /misappropriation of grant funding.
Recommendation
We recommend that the County implement internal control policies and procedures to ensure
that proper monitoring of subrecipients occur on an on -going basis including the timely
submission of audit reports and resolution of any audit findings.
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. An internal control for subrecipient monitoring
will be developed and implemented by OMB. This will include a master schedule of all
subrecipients' fiscal year end dates to assess the appropriate times to request single audit reports.
Collection of reports will be monitored by OMB through an electronic file system no less than
quarterly to ensure subrecipient audit reports have been collected and reviewed. Reviews will be
documented through the development of a review form completed by HHVS staff to assess the
need for further action including any corrective actions plans and a timeline. The follow -up
timeline will become part of the master subrecipient master schedule.
Finding 2011 -4
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants/Entitlement Grants (CDBG)
CFDA No. 14.218
Community Development Block/Grant State's Program (DRI)
CFDA No. 14.228
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Schedule of Findings and Questioned Costs (continued)
Criteria
Special Tests and Provisions: When CDBG funds or CDBG -R funds are used for rehabilitation,
the grantee must ensure that work is properly completed per 24 CFR section 570.506.
Any NSP- assisted rehabilitation of a foreclosed -upon home or residential property shall be
completed to the extent necessary to comply with applicable laws, codes and other requirements
relating to housing safety, quality, or habitability, in order to sell, rent or redevelop such homes
and properties.
Condition /Context
We noted for one of the properties in our testing, that there was no evidence that a pre -
rehabilitation inspection was conducted describing the deficiencies to be corrected. Further we
noted 11 additional properties in our testing, that were certified to be 100% complete by
contractors, were requested for full payment in signed affidavits, and authorized for full payment
by Housing, Human & Veteran Services staff, who certified on the disbursement authorization
form that a site inspection was conducted and the work was 100% complete, without all work
having been completed, as observed during physical inspections of the properties by the Internal
Audit Department of the Clerk of the Circuit Court.
Questioned Costs
N/A
Cause /Effect
County personnel did not thoroughly inspect all work prior to authorizing any payment requests,
therefore, did not have effective internal controls in place over this process Signing statements
certifying that work is 100% complete without having performed a sufficient inspection could
result in funds being dispersed and requested for reimbursement for work not performed.
Recommendation
The County should implement internal control procedures to inspect all work prior to authorizing
any payment requests to ensure that contractors completed all work according to the bid
specifications, contract specifications, and carried out the work in accordance with rehabilitation
standards per 24 CFR section 570.506.
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Schedule of Findings and Questioned Costs (continued)
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. This finding was brought to our attention
during the review by our Internal Auditors. Management took immediate action and internal
control procedures have been implemented within HHVS to address the payments to contractors.
We believe future payments pertaining to the NSP program will be in compliance with special
tests and provisions clauses.
The primary procedural change is to require photos of the components of work being invoiced.
The second signatory will utilize these photographs and proofs of inspections as evidence on
every request for payment, and also, periodically, will perform unscheduled site inspections to
further verify.
Additionally, there will be another layer of oversight due to the centralization of grant
compliance functions under the OMB. See Finding 2011 -1 for full corrective action plan.
Finding 2011 -5
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants/Entitlement Grants (CDBG)
CFDA No. 14.218
Criteria
Procurement, Suspension and Debarment: Verify that procurements provide full and open
competition pursuant to the requirements of OMB Circular A -133.
Condition /Context
We noted one of our testing selections was part of a group bidding process for the rehabilitation
of five homes where draft specifications were given to contractors for bidding, and then later
revised after the bids were awarded to one contractor. These were titled "pencil bids" by the
Housing Department Rehabilitation Specialist who later made revisions to bid specifications and
allowed the winning contractor to adjust its line item pricing. It was further noted that the
winning contractor increased certain line items within the bid even when the specifications on
the final bid were unchanged from the first set. The bid totals for the jobs did not increase or
decrease, only line items within the bid were changed. Further, this was also found by the
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Schedule of Findings and Questioned Costs (continued)
Internal Audit Department of the Clerk of the Circuit Court in their investigation over 24 NSP
properties owned by the County to rehabilitate as there were instances of invoices that were paid
for work that was not complete (see finding 2011 -2).
Questioned Costs
N/A
Cause /Effect
This process is considered to be in violation of the County's procurement policy and not in
compliance with the procurement, suspension and debarment requirements of OMB Circular
A -133 since all contractors were not given the opportunity to competitively bid on the same set
of specifications. If all interested parties were given the opportunity to re -bid on the final
specifications, the job(s) may have been awarded to a different contractor at a lower cost.
Therefore, internal controls over the procurement, suspension, and debarment requirement were
not operating effectively.
Recommendation
We recommend that the County implement proper internal controls to ensure that the bid process
is competitive and fair to all interested parties by allowing them to bid on the same specifications
as required by the County's procurement policy and OMB Circular A -133.
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. This finding was brought to our attention
during the review by our Internal Auditors. Management took immediate action and internal
control procedures have been implemented within HHVS to address proper procurement
procedures.
Additionally, OMB and the County Purchasing Department has begun development of a
coordination plan for all grant procurements which includes OMB review of all formal
solicitations and further rollout of the Grants Requisition process to HHVS. The Grants
Requisition process serves as an additional review by OMB staff versed in grant compliance
against grants agreements to ensure any special grantor procurement requirements have been
met.
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Schedule of Findings and Questioned Costs (continued)
Finding 2011 -6
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants/Entitlement Grants (CDBG)
CFDA No. 14.218
Criteria
Program Income and Cash Management: Revenue received by a state, unit of general local
government, or subrecipient (as defined at 24 CFR 570.500(c)) that is directly generated from the
use of CDBG funds (which term includes NSP grant funds) constitutes CDBG program income.
To ensure consistency of treatment of such revenue, the definition of program income at 24 CFR
570.500(a) shall be applied to amounts received by states, units of general local government, and
subrecipients. However, Section 2301(d)(4) imposes certain limitations and requirements that
necessitate an alternative requirement to govern the use of program income generated by
activities carried out pursuant to Section 2301(c). The limitations and requirements are based on
the NSP activity that generated the program income and on the date the income is received. In
addition, Section 2301(d)(4) requires any revenue from the sale, rental, redevelopment,
rehabilitation or any other eligible use of NSP funds to be provided to and used by the state or
unit of local general government. This includes revenue received by a private individual or other
entity that is not a subrecipient. Program income received before July 30, 2013, may be retained
by the state or unit of general local government if it is treated as additional CDBG funds and
used in accordance with the requirements of Section 2301. Furthermore, as provided under 24
CFR 85.21 for entitlements, grantees and subrecipients shall disburse program income before
requesting additional cash withdrawals from the U.S. Treasury.
Condition/Context
At the end of FY 2010 there was a total of $725,320.37 of program income that had not been
considered and adjusted against future cash draws that was generated from NSP grant program
activities. During FY 2011, we noted there were three NSP grant program cash drawdowns that
occurred during FY 2011. Per review of the first draw, the date of the request for reimbursement
was on June 2, 2011. Based on this date and review of the program income population for the
NSP grant program, we noted additional program income received during FY 2011 as of 6/2/11
of $259,378.63, resulting in a total amount of program income (FY 2010 & FY 2011) prior to
this cash draw of $984,699.00. We noted per review of the cash drawdown details that the
County only applied $725,315.86 of program income to the request as oppose to the whole
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Schedule of Findings and Questioned Costs (continued)
amount reflected in the general ledger of $984,699.00. Further, the last two cash draws related to
the NSP grant program during FY 2011 were requested on July 1, 2011 and did not have any
program income that was drawn against.
Questioned Costs
$259,378.63
Cause /Effect
It appears that NSP program income not adjusted from (reduced) future cash draws. Internal
controls with respect to program income were not operating effectively.
Recommendation
We recommend that the County implement procedures to verify that program income received is
properly adjusted to future cash draw downs.
Views of Responsible Officials and Planned Corrective Action
Management concurs with the recommendation. As of February 1, 2012 the Office of
Management and Budget has been expanded to oversee grants compliance countywide.
Standardized project to date tracking protocols and forms will be implemented to support
accurate general ledger reconciliations and application of program income prior to
reimbursement (draw down) requests in a manner which supports a successful audit trail
including proper backup that any grantor system failures are consistently documented and if
possible acknowledged by the grantor agency.
Finding 2011 -7
State Program Information
Florida Fish and Wildlife Conservation Commission
Florida Boating Improvement Program
CSFA No. 77.006
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Schedule of Findings and Questioned Costs (continued)
Criteria
Matching: Per Florida Boating Improvement Program guidelines, applicants must furnish some
form of non -cash match (in -kind service) to the project. Non -cash match may include the cost of
administrative /contract management, engineering/construction management, labor, materials,
and equipment provided through in -house resources of the Applicant. Applicants may not
provide more than 5% of the total project cost for project administration and 10% of the total
project cost for project engineering /construction management.
Condition /Context
We noted that there were in -kind contributions of $20,000 and $60,000 for administration and
project management, respectively, included in the final submitted report for the FBIP grant
program. However, we were unable to obtain evidence to substantiate the valuation and
calculation of the in -kind contributions.
Questioned Costs
$80,000
Cause /Effect
The final report submitted was not adequately reviewed to ensure accuracy and completeness,
including verification that in -kind contribution amounts reported were appropriately
substantiated by accounting records. Internal controls with respect to matching were not
operating effectively.
Recommendation
The County should implement internal control procedures that require that amounts included in
final submitted reports be adequately substantiated and reconciled to the accounting records and
reviewed and approved prior to being filed with the grantor.
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. The Coastal Zone Management office is
preparing a revised invoice for reimbursement and assistance will be provided to staff by our
Grants Management Office to facilitate their understanding correct substantiation and
reconciliation of accounting records prior to submission of the revised invoice.
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Schedule of Findings and Questioned Costs (continued)
Specifically, OMB will implement the use of standard in -kind tracking forms and protocols
(consistent with the payroll calendar schedule) for staff to document staff time used as in -kind.
OMB will meet with CZM staff to develop roles and responsibilities as well as central electronic
file location to monitor no less than quarterly that appropriate documentation is completed for
staff time, materials and supplies.
Finding 2011 -8
Federal /State Program Information
Federal Agencies/Program:
U.S. Department of Housing and Urban Development
Community Development Block Grants /Entitlement Grants (CDBG)
CFDA No. 14.218
Community Development Block Grant/State's Program (DRI)
CFDA No. 14.228
State Agencies /Programs:
Florida Department of Elder Affairs
Community Care for the Elderly (CCE)
CSFA No. 65.010
Florida Housing Finance Corporation
State Housing Initiatives Partnership Program (SHIP)
CSFA No. 52.901
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Schedule of Findings and Questioned Costs (continued)
Criteria
Allowable Costs: Compensation for personnel services rendered in connection with Federal
awards must be documented and supported as described in OMB Circular A -87, Cost Principles
for State, Local and Indian Tribal Governments (A -87). Additionally, pursuant to the SHIP
Program Manual and the State of Florida's Part Four Compliance Supplement for the CCE
program, administrative costs for the SHIP and CCE state programs should also be in
conformance with A -87. According to A -87, the standards regarding time distribution are in
addition to the payroll documentation and require the following:
• Charges to Federal awards for salaries and wages, whether treated as direct or indirect
costs, will be based on payrolls documented in accordance with the generally accepted
practice of the governmental unit and approved by responsible official(s) of the
governmental unit.
Where employees are expected to work solely on a single Federal award or cost
objective, charges for their salaries and wages will be supported by periodic certifications
that the employees worked solely on the program for the period covered by the
certification. These certifications will be prepared at least semi - annually and will be
signed by the employee or supervisory official having first -hand knowledge of the work
performed by the employee.
Where employees work on multiple activities or cost objectives, a distribution of their
salaries or wages will be supported by personnel activity reports or equivalent
documentation which meets the following standards (unless a statistical system or other
substitute system has been approved by the cognizant Federal agency):
a) must reflect an after - the -fact distribution of the actual activity of each employee,
b) must account for the total activity for which each employee is compensated,
c) must be prepared at least monthly and must coincide with one or more pay periods,
and
d) must be signed by the employee.
e) Budget estimates or other distribution percentages determined before the services are
performed do not qualify as support for charges to Federal awards but may be used
for interim accounting purposes.
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Schedule of Findings and Questioned Costs (continued)
Condition /Context
During our testing over payroll, we could not obtain sufficient evidence that the time allocated
towards grant programs per time sheets was actual time the employee spent working on the grant
programs.
Questioned Costs
Total salaries and related costs for the FY 2011 time period are summarized as follows:
CDBG (CFDA No. 14.218)
$
577,627
DRI (CFDA No. 14.228)
$
162,652
SHIP (CSFA N0.52.901)
$
37,822
CCE (CSFA No. 65.010)
$
251,771
Cause /Effect
Payroll allocations to grant programs were not supported by detailed time records. As such, these
payroll costs are unsupported. This could result in reimbursement for unallowable or
unsubstantiated costs.
Recommendation
We recommend that the County implement effective internal controls to ensure that actual time
worked by an employee is charged to the grant programs.
Views of Responsible Officials and Planned Corrective Action
HHVS continues to follow the procedure for charging grants staff time via biweekly timesheets,
signed by the employee and management, and reflecting actual time spent on the grants.
However, it was determined by this finding that the procedures were not working as some of the
staff were changing formulas within the spreadsheets and estimating their time. The department
has implemented one spreadsheet that will be used by all staff members and the account strings
will be verified by the accounting supervisor prior to forwarding to Human Resources for entry
into SAP. Additionally, assistance will be provided by OMB via review of the current processes
and procedures and the tools used by staff to perform their grant payroll reporting.
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Schedule of Findings and Questioned Costs (continued)
Finding 2011 -9
State Program Information
Florida Fish and Wildlife Conservation Commission
Florida Boating Improvement Program
CSFA No. 77.006
Criteria
Reporting: Per review of the State's reporting guidelines, the subgrantee is required to submit
monthly progress reports from the award date of the grant until such time as the Contractor's
Certification of Completion is signed by the contractor and submitted to the Florida Fish and
Wildlife Conservation Commission. The compliance supplement requires that performance
reports are complete and accurate, which includes a requirement that amounts reported be in
agreement with accounting records that support the audited financial statements and the SEFA.
Condition /Context
We noted during our review and testing of the final invoice that the Contractor's Certification of
Completion, which was signed by the contractor, was submitted to the Florida Fish and Wildlife
Conservation Commission on November 9, 2011, however, no progress reports were submitted
after January 2011, during which month construction was completed. As such, no monthly
progress reports were submitted for approximately 10 months.
Questioned Costs
N/A
Cause /Effect
Failure to submit the required monthly progress reports resulted in non - compliance with the
reporting requirements of the grant program. Internal controls with respect to reporting were not
operating effectively.
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Schedule of Findings and Questioned Costs (continued)
Recommendation
The County should establish policies and procedures necessary to ensure that all required reports
are prepared and fled in a timely manner including developing a checklist of required reports
and due dates.
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. A centralized electronic file system will be put
into place that will serve as a monitoring tool by OMB staff. A master report schedule will
outline all reporting requirements by grantor program and grant contract. Reminders will be sent
to CZM staff to draft required reports. Standard protocol will implement that all reports receive a
documented review by OMB staff prior to submission to the grantor agency. This internal
control will serve to ensure reports are fled timely and that the audit trail includes a copy of the
final submission and documented review.
Finding 2011 -10
Federal Program Information
Florida Department of Education
Summer Food Service Program for Children
CFDA No. 10.559
Criteria
Allowable Costs: Compensation for personnel services rendered in connection with Federal
awards must be documented and supported as described in OMB Circular A -87, Cost Principles
for State, Local, and Indian Tribal Governments (A -87).
Condition /Context
We noted upon review of payroll timecards from the Parks and Recreation Department, the
County Clerk's Finance Department identified and investigated an error noted in the computation
and data entry of overtime hours worked by Summer Food Program personnel. We note that the
fiscal technician that was inputting the time for the Summer Food Program was responsible for
entering the hours worked by each employee. The fiscal technician would enter and approve in
the SAP general ledger system for payroll processing and payment, the data provided by the
manual time card signed by the employee and supervisor of the program. The fiscal technician,
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Schedule of Findings and Questioned Costs (continued)
when entering overtime hours into the system, multiplied all overtime hours by 1.5, as they were
unaware that the County's payroll system automatically calculated the increase in rate for hours
classified as overtime hours. Additionally, we noted that an overpayment for the time resulted in
additional employer taxes and Florida Retirement System contributions, as these expenditures
are calculated as a percentage of total pay.
Questioned Costs
$8,517
Cause /Effect
The cause is due to a clerical error going undetected due to the lack of effective supervisory
oversight, which resulted in overcharge of payroll costs to the program. As such, unallowable
costs were charged to the grant program. In addition, permissions for both entering data and
approving time in the SAP system was granted to this employee.
Recommendation
We recommend an additional level of review, to compare the hours per the manual timecards to
the timekeeper's entry into the system, and that the timekeeper's access to the payroll module
should not also include approval of time entry. We also recommend proper training of payroll
personnel.
Views of Responsible Officials and Planned Corrective Action
Management concurs with this recommendation. The Human Resource Department (HR) has
implemented additional training to staff entering payroll and supervisors. The content of the first
session included review of federal laws (Fair Labor Standards Act), Compensation CMA, Leaves
of Absence CMA, deadlines, best practices, productive vs. non - productive time, holidays,
compensatory time and overtime. In addition to the training, HR has reviewed all time entries for
the Summer Food Program and is working with the Clerk of Court to resolve the overpayments.
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Schedule of Findings and Questioned Costs (continued)
Finding 2011 -11
Federal Program Information
Florida Department of Education
Summer Food Service Program for Children
CFDA No. 10.559
Criteria
Cash Management: In accordance with OMB Circular A -102 Common Rule, the related
expenditures should be in compliance with the applicable funding techniques as described in the
agreement and when awards are funded on a reimbursement basis, the costs for which
reimbursement was requested were paid prior to the date of the reimbursement request.
Condition /Context
We note that the meals served on a daily basis are tracked manually at each meal site, and the
manual tracking sheets are sent to the Parks & Recreation Administration Office. Personnel at
the office enter the manual data into an excel spreadsheet, which is then used to summarize the
total meals served and to prepare the cash drawdown requests. We obtained the excel tracking
spreadsheet for the month of June 2011, and while clerically testing it, we noted that the total
number of meals served, plus the total number of meals left over, was more than the total number
of meals delivered for the Naples locations. Additionally, we noted that the total number of
meals left over for both locations were not equal to the total number of meals delivered during
the period, less the number of meals served. As such, we were unable to determine whether the
excel tracking spreadsheet appropriately reflected the number of meals delivered or the number
of meals served. Further, we were unable to obtain sufficient evidence to verify the number of
meals served and reported, and therefore reimbursed, during July 2011 and August 2011.
Questioned Costs
Unable to determine.
Cause /Effect
Drawdown or reimbursement requests were submitted to the grantor that could not be fully
substantiated with evidence that they were qualifying paid expenditures. This could result in
reimbursement for unsubstantiated meals served.
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Schedule of Findings and Questioned Costs (continued)
Recommendation
We recommend that the personnel administering the grant program implement procedures to
ensure that reimbursement requests are supported by actual meals served.
Views of Responsible Officials and Planned Corrective Action
Management concurs with the recommendation. Deficiencies in the operation of this program
were brought to our attention during the summer of 2011. Management took immediate action
and implemented a very detailed corrective action plan. A summation of the plan is as follows:
Staff has been re- trained to ensure that an understanding of the requirements of the
program and delivery of these requirements to participants are carried out in accordance
with United States Department of Agriculture Summer food Service Program guidelines
without exception. Subsequent training will be held routinely.
2. As mentioned previously, staff are assigned to count the amount of food coming back to
correspond with the POS forms for left -over meals.
3. All meals will contain the required elements for lunch and breakfast and no other foods
will be substituted or added.
4. Current program manager was removed immediately and his responsibilities were
reassigned to his supervisor.
5. The supervisor will be the contact person for all future contacts between the Parks and
Recreation Department and representatives of the Florida Department of Education and
the Director of Collier County Parks and Recreation will be added to all future
communications between the Collier County Parks and Recreation Department and the
Florida Department of Education.
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Schedule of Prior Audit Findings
For the Year Ended September 30, 2011
The current status of findings reported for the years ended September 30, 2010 and 2009 related
to major federal programs and state projects is as follows:
Finding 2010 -1
State Program Information
Florida Housing Finance Corporation (the Corporation)
State Housing Initiatives Partnership Program (SHIP)
CSFA No. 52.901
Compliance Requirement: Reporting
Condition /Context
The financial information included in the submitted Annual Report was not reconciled to the
County's general ledger. Accordingly, we were unable to validate the amount of expenditures
and program income reported in the Annual Report.
Recommendation
The County should implement procedures that require that the statutory reports be reconciled to
the general ledger and reviewed and approved prior to being filed with the State.
Views of Responsible Officials and Planned Corrective Action
Management concurs with the recommendations of the auditors. On July 1, 2010, Collier County
entered into a contract with the Florida Housing Coalition, the technical assistance provider for
Florida Housing Finance Corporation. The purpose was to receive assistance in reconciling the
annual reports to the general ledger and establishing best practices to capture, reconcile, and
report data.
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Collier County, Florida
Schedule of Findings and Questioned Costs (continued)
Current Status
The previously submitted Annual Reports for 06/07 07/08 and 08/09 were voided and have been
revised and resubmitted with the assistance of the Florida Housing Corporation's Technical
Advisor. The Technical Advisor determined that the historical practice of maintaining separate
projects in our accounting system created problems when attempting to reclassify expenditures to
a previous period. She suggested we no longer attempt to reconcile to SAP, but rather use the
SHIP tracking forms as the basis for recording the date of SHIP transactions and SAP to support
that the expenditures occurred.
Consequently, HHVS staff is in the process of creating "bridge" reports to tie the information
provided in the Annual Reports to SAP. These bridge reports would be analogous with a request
for reclassifications, showing where expenditures currently reside in SAP and where they are in
the Annual Report.
SHIP funding for 11/12 will be placed in a new fund/project and maintained for the duration of
the SHIP program. Staff is reviewing various options for maintaining and tracking future SHIP
funds to ensure the integrity of the data in SAP and to make reconciliations to the SHIP tracking
forms possible and help ensure the integrity of Annual Reports.
As of February 1, 2012 the Office of Management and Budget has been expanded to oversee
grants compliance countywide and will serve to assist in proper reconciliation and tracking of
SHIP funding.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Finding 2010 -2
Federal Program Information
U.S. Department of the Interior
Payments in Lieu of Taxes (PILT)
CFDA No. 15.226
Compliance Requirement: Reporting
Condition /Context
The County was not aware of the requirement noted in (d) above and did not certify to the
Department that it had made an appropriate distribution of the funds within 120 days of receiving
payments.
Recommendation
The County should implement procedures to identify all types of reporting requirements
indicated in the federal regulations and to ensure all such reports or certifications are submitted
as required and on a timely basis.
Views of Responsible Officials and Planned Corrective Action
The Clerk's Department of Finance and Accounting (Finance) determined that this program was
considered a Federal grant in July 2010. At that time, Finance contacted the Department of
Interior and was told that there were no reporting requirements for this program. All funds were
properly distributed. Upon reviewing CFR 44.5(d) with the auditors, it was determined that a
certification confirming the appropriate distribution of funds was required. The confirmation was
sent and this requirement had been added to the PILT procedures for future years.
Current Status
The procedures for processing the PILT receipt and subsequent distributions have been updated.
All funds were properly distributed. The certification confirming the appropriate distribution of
funds was submitted to the Department of the Interior as required.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Finding 2010 -3
Federal Program Information
U.S. Department of Homeland Security
Disaster Grants — Public Assistance (Presidentially Declared Disasters)
CFDA No. 97.036
Compliance Requirement: Procurement, Suspension and Debarment
Condition /Context
We selected the largest vendor included in the population which comprised the majority of the
expenditures incurred under the Federal program for testing. The expenditures were incurred
during prior years although the Federal reimbursement was sought and received in the current
year. We noted no documentation evidencing that the County had checked the EPLS, and a
certification from the vendor was not collected or clause or condition included in the contract.
We noted that the County's current policy it to document the EPLS check; however, as this
vendor contract pertained to prior years, there was no documentation of the EPLS check being
performed.
Recommendation
The County should perform the required verification by checking the EPLS (and documenting
evidence of the verification, when it was performed and by whom), collecting a certification
from the entity, or adding a clause or condition to the contract with that entity in accordance with
the Federal requirements.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Views of Responsible Officials and Planned Corrective Action
Management concurs with and has successfully implemented the procedure of performing EPLS
checks on all vendors associated with grant activities. This contract was procured in July of
2005, prior to any damage done to Naples beaches and initial submission to FEMA for
reimbursement. This contract bid process was intended for payment under non -grant revenue
sources and accordingly, our procurement procedures do not require debarment checks for non-
grant related vendors. The bid process did include the following language with regards to Public
Entity Crimes: `By its submitting a Bid, Bidder acknowledges and agrees to and represents it is
in compliance with the terms of Section 287.133(2)(a) of the Florida Statutes." Said statute
prohibits a vendor from bidding on a contract when they have been convicted of a public entity
crime.
An after - the -fact EPLS check was performed on this vendor for the period of January 1, 2005
through and including September 30, 2010 and was found to be in good standing. At the time the
County submits their second request for scope change with FEMA regarding the increased beach
costs, all vendors submitted for reimbursement will be checked after - the -fact.
Current Status
The County continues to educate staff on EPLS checks as well as other grant procurement
procedures to ensure compliance. On this particular item, EPLS checks were performed on all
vendors associated with the grant.
As of February 1, 2012 the Office of Management and Budget has been expanded to oversee
grants compliance countywide. Additional controls will be implemented during FY 2012
including a grants requisition system that will allow grants compliance staff to verify an EPLS
check has been completed prior to execution of a purchase orders against a contract funded with
federal or state funds. In addition, grants compliance staff in coordination with Purchasing will
review grant related procurements at several control points. Prior to advertisement to review
procurement packages for required grantor provisional language, at the time of Board approval
by way of the SIRE agenda system, and again at the time of purchase order execution.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Finding 20104
Federal Program Information
U.S. Department of Homeland Security
Disaster Grants — Public Assistance (Presidentially Declared Disasters)
CFDA No. 97.036
Compliance Requirement: Reporting
Condition /Context
For one of the two quarterly reports selected for testing on a large project we noted amounts
were not reported accurately for the anticipated final amount and the amount expended to date.
The accounting records reflected a total amount of $12.9 million whereas the report reflected
$3.1 million. Further, we selected the next quarterly report and noted that the amounts reported
were the same and had not been updated to reflect the actual activity based on the County's
accounting records.
Recommendation
We recommend that all reports submitted to grantor agencies be subjected to a thorough
supervisory review for accuracy and completeness prior to submission.
Views of Responsible Officials and Planned Corrective Action
The Florida Public Assistance quarterly reporting is done electronically without any intermittent
check points for review. Management will work around this by having staff create a spreadsheet
prior to quarterly reporting submission and submit to Management for approval.
Staff inquired about submitting revised quarterly reports for the periods in question and was
advised that there are no options for doing this within the system.
Current Status
Staff generates a spreadsheet from the Florida Public Assistance system quarterly and it is
reviewed and approved by Management prior to submission in the actual Florida Public
Assistance portal. Additionally, staff monitoring each of the on -going projects is responsible for
reporting the amounts to the employees who perform the report preparation and submission.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Finding 2010 -5
Federal Program Information
U.S. Department of Homeland Security
Disaster Grants — Public Assistance (Presidentially Declared Disasters)
CFDA No. 97.036
Compliance Requirement: Allowable Activities /Costs
Condition /Context
The large project PW that was finalized during fiscal year 2010 and which set forth the allowable
activities and costs for the project included approximately $10.5 million for costs associated with
one vendor and $2.2 million related to various other vendor related costs. The County was
reimbursed under the Federal program for the full amount of the approved PW (approximately
$3.1 million was collected in prior years and approximately $9.7 million was collected during
fiscal year 2010). For the other vendors included in the PW totaling $2.2 million, we selected
three of the largest vendors to test covering over 60% of the other vendor total amount. We noted
that for one of the vendors selected, the amount billed by the vendor and paid by the County was
less than the amount in the PW by $27,997, which at the Federal reimbursable share per the PW
of 55% equates to $15,398.
Recommendation
We recommend that the County implement procedures to ensure that amounts reimbursed are
based upon actual expenditures incurred.
Views of Responsible Officials and Planned Corrective Action
As discussed in previous meetings, this Project Worksheet 2700 (PW) was the scope change and
Collier County was allowed a much larger reimbursement for the damages done to Collier
County Beaches. This is an on -going process and involves three Named Events (Tropical Storm
Gabrielle on 9/12/2001; Hurricane Katrina on 8/29/2005; and Hurricane Wilma on 10/24/2005).
At 9/30/2010, Collier County was half -way through this process.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
The invoice selected for testing on this project was incorrectly referenced in the written
discussion on PW 2700 by State personnel at $682,000, the PO amount. There is a spreadsheet
that FEMA, State personnel and Collier personnel are working with for the entire $33.9 million
dollar scope change. The actual invoice amount of $654,002.73 is included on the spreadsheet.
Current Status
As of February 1, 2012 the Office of Management and Budget has been expanded to oversee
grants compliance countywide. Standardized report submission forms and protocols will be
implemented to support segregation of duties as well as accurate reporting to ensure the general
ledger reconciles to any financial activity within the report prior to submission.
Finding 2010 -6
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants /Entitlement Grants (CDBG)
CFDA No. 14.218
Compliance Requirement: Program Income
Condition /Context
We noted a total of approximately $732,000 of program income generated during fiscal year
2010 under the Neighborhood Stabilization Program (NSP) which is part of the CDBG program.
Per review of the general ledger expenditure detail provided, we noted that the program income
had been applied against specific program expenditures in determining the net amount of
program expenditures reported in the SEFA. From the detail of program income provided, we
selected a sample of specific program income transactions for testing and the first selection of
approximately $66,000 was recorded in May 2010. The remaining five selections included in our
sample were recorded during September 2010. There were no NSP program cash draws made
subsequent to the receipt of the program income recorded in September 2010. We attempted to
ascertain whether the amounts received as program income in May 2010 were properly offset
against program expenditures in determining the amount of federal funds drawn for the next
draw request occurring subsequent to the date the program income was received in order to
satisfy the requirement that program income is used before requesting additional cash draws.
However, we were informed that the May 2010 program income of $66,000 had not been
deducting in subsequent cash draw requests made during fiscal year 2010.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Recommendation
We recommend that the County implement procedures to verify that program income received is
properly offset against expenditures incurred when making draw requests under the federal
program.
Views of Responsible Officials and Planned Corrective Action
Collier County concurs with the recommendation. Prior to making a request to draw new funds
under NSP, County fiscal staff will submit evidence to the program administrator that all
program income received will be, or has been, offset against expenditures. This requirement will
apply regardless of what NSP activity generated the program income or what activity Collier
County seeks to draw down against available program funds.
Current Status
As determined by the auditors in Finding 2011 -6, Collier County was still incorrectly drawing
program income. As of February 1, 2012 the Office of Management and Budget has been
expanded to oversee grants compliance countywide. Standardized project to date tracking
protocols and forms will be implemented to support accurate general ledger reconciliations and
application of program income prior to reimbursement (draw down) requests in a manner which
supports a successful audit trail.
Finding 2010 -7
Federal Program Information
U.S. Department of Housing and Urban Development
Community Development Block Grants/Entitlement Grants (CDBG)
CFDA No. 14.218
Compliance Requirement: Reporting
Condition /Context
We selected two quarterly reports for the NSP program to test and noted that amounts reported
for expenditures did not agree to the County's general ledger and a reconciliation was not
provided.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Recommendation
The County should implement procedures that require that the NSP reports be reconciled to the
general ledger and reviewed and approved prior to being filed with the grantor.
Views of Responsible Officials and Planned Corrective Action
Collier County concurs with the recommendation. Program staff will ensure expenditures and
program income have been reconciled to the general ledger. This item has been corrected and
appropriate controls and procedures have been implemented to reconcile to the general ledger
before submitting future Quarterly Performance Reports (QPR) to the grantor agency.
Furthermore, future reports will be approved by the program administrator and appropriate
documentation will be maintained prior to being filed with the grantor agency.
Current Status
Collier County received authorization from HUD to modify and correct past reports. To do so,
HUD rejected all previously submitted QPRs on October 25, 2011. HHVS staff has completed
modification of the six rejected QPRs from 2009 and 2010 and prepared and submitted the four
QPRs for 2011. All QPRs will be reviewed and approved by a grants accountant and supervisor
prior to the reports being submitted to the grantor. Also, see action plan submitted in finding
2011 -1.
Finding 2009 -1
Federal /State Program Information
Federal Agencies/Programs:
U.S. Department of Housing and Urban Development (HUD)
Home Investment Partnerships Program (HOME) — CFDA No. 14.239
Community Development Block Program (CDBG) — CFDA No. 14.218
U.S. Department of Health and Human Services
Aging Cluster (AC) — CFDA No.'s 93.044, 93.045, 93.053, 93.705, 93.707
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
State Agencies /Programs:
Florida Department of Elder Affairs
Community Care for the Elderly (CCE) — CSFA No. 65.010
Florida Housing Finance Corporation
State Housing Initiatives Partnership Program (SHIP) — CSFA No. 52.901
Compliance Requirement: Allowable Costs
Condition /Context
We noted that from the beginning of the fiscal year through January 2009, the County's
documentation supporting payroll allocations for employees that work on multiple grants did not
meet federal standards as described in OMB Circular A -87 above. The County has used a
Personnel Activity Report (PAR) to allocate payroll salaries for employees who work on
multiple activities. These reports are prepared annually, at the beginning of each fiscal year,
based on an estimate of the time the employees are expected to work on a grant. The PAR does
not show the total activity for which an employee is compensated and does not require the
employee's signature.
The County's Department of Housing and Human Services initiated a timesheet process in fiscal
year 2006 whereby employees in the department indicate the projects to which their time relates
each week. These timesheets are signed by the employees and supervisors and kept in the
department for internal control purposes. For the first part of fiscal year 2009, these timesheets
were not provided to the County's payroll department to adjust the allocation of payroll costs
from the estimate as indicated in the annual PAR form to actual time spent. Thus, there is not an
"after the fact" accounting based on actual activity.
We noted that the HOME program had no payroll expenditures charged to the program during
the period noted above (although there should have been), and therefore, no question costs have
been reported for this program. The payroll charges related to the HOME program were instead
charged to other housing programs as a result of the lack of an after the fact accounting for the
period noted above.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Recommendation
The County should ensure that an effective and consistent process is in place to record payroll
charges to grant programs throughout the entire fiscal year. The process should entail providing
the timesheets to the payroll department on a periodic basis to match the related payroll allocated
to each grant (as based on the PAR), to the actual time spent working on the federal /state grant
based on the after -the -fact timesheet, and any adjustments necessary to true -up the estimated
payroll charged to the grant (based on the PAR) to the actual amount (based on the timesheets)
should be made. Alternatively, the payroll department could charge payroll costs to the grants
based on actual timesheets submitted weekly as opposed to using the budgeted PAR percentage
as the basis for allocating costs each pay period.
PAR reports should be signed by the employee and completed at least semi - annually for those
employees who work solely on one grant.
Views of Responsible Officials and Planned Corrective Action
The finding in question occurred during the 1" quarter of FY09. The time was tracked correctly;
however, a manual step was missed. Effective January 17, 2009, the Human Resources
Department began processing bi- weekly time and effort entries for all Housing and Human
Services grant staff. Staff submits timesheets that are signed by the employee and management
to fiscal staff for review. The timesheets are forwarded to Human Resources to enter the actual
percentage of time and effort into SAP prior to payroll expenses actually posting to SAP. This
allows for "real time" charges directly to the appropriate grant in SAP, thereby eliminating the
need to process journal entries at all.
Current Status
HHVS continues to follow the procedure for charging grants staff time via biweekly timesheets,
signed by the employee and management, and reflecting actual time spent on the grants.
However, it was determined by finding 2011 -8 that the procedures were not working as some of
the staff were changing formulas within the spreadsheets and estimating their time. The
department has implemented one spreadsheet that will be used by all staff members and the
account strings will be verified by the accounting supervisor prior to forwarding to Human
Resources for entry into SAP.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Finding 2009 -2
Federal Program Information
Federal Agency/Program:
U.S. Department of Housing and Urban Development (HUD): Community Development Block
Grant / State's Program (DRI) — CFDA No. 14.228
U.S. Department of Agriculture: Summer Food Service Program for Children— CFDA
No. 10.559
U.S. Department of Justice: Public Safety Partnership and Community Policing Grants — CFDA
No. 16.710
U.S. Department of Homeland Security: Homeland Security Cluster — CFDA No. 97.004, 97.067
U.S. Department of Transportation: Airport Improvement Program— CFDA No. 20.106
Compliance Requirement: Procurement, Suspension and Debarment
Condition /Context
Although the County indicated that its practice is to check the EPLS system, no documentation
evidencing that it had checked the EPLS was maintained, and a certification from the entity was
not collected or clause or condition included in the agreements, as applicable, for certain sample
transactions selected for testing.
Recommendation
The County should perform the required verification by checking the EPLS (and documenting
evidence of the verification, when it was performed and by whom), collecting a certification
from the entity, or adding a clause or condition to the contract with that entity in accordance with
the Federal requirements.
Views of Responsible Officials and Planned Corrective Action
Collier County will apply currently enacted controls and measures operating effectively in one
division agency -wide to ensure compliance.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
The Grants Coordinator for the Collier County Sheriff's Office will be responsible for checking
EPLS and documenting the verification as recommended above for all Sheriff's grants with this
requirement.
Current Status
HHVS staff is responsible for ensuring all sub recipients, vendors and contractors are not
debarred by checking the EPLS web site and printing a copy of the screen indicating that the
party is not on file. Said screen prints proving verification and are included in the file.
The Fiscal Technician for Parks and Recreation working with the Food Grant staff checks that
EPLS documentation is present and includes it in file for corresponding purchase orders and
invoices.
The Collier County Department of Emergency Management's Sr. Administrative Assistant
checks the EPLS website, prints out the verification, and places it in the project files.
Airport Authority personnel check the EPLS web site ( https : / /www.epls.gov /epls /search.do) and
print documentation as verification for each vendor. This documentation is initialed, scanned and
attached to the requisition electronically within the county's accounting system.
The Grants Coordinator for the Collier County Sheriff's Office checks EPLS and documents the
verification as required for all Sheriff's grants.
Finding 2009 -3
State Program Information
Florida Housing Finance Corporation (the Corporation)
State Housing Initiatives Partnership Program (SHIP)
CSFA No. 52.901
Criteria: Reporting
Condition /Context
The financial information included in the submitted Annual Report was not reconciled to the
County's general ledger. Accordingly, we were unable to validate the amount of expenditures
and program income reported in the Annual Report.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Additionally, we noted approximately $192,000 of reversal entries appearing in the detail we
were provided of SHIP projects completed during fiscal year 2009 and we were informed that
these credits represented prior period corrections dating back as far as 2003.
Recommendation
The County should implement procedures that require that the statutory reports be reconciled to
the general ledger and reviewed and approved prior to being filed with the State.
Additionally, should corrections to prior period expenditures be necessary, a process should be in
place to ensure that such items are identified and captured on a timely basis.
Views of Responsible Officials and Planned Corrective Action
Management concurs with the recommendations. Recognizing that internal attempts at
completing this difficult reconciliation have fallen short of the requirement, Housing and Human
Services has budgeted SHIP grant funds to receive onsite and offsite technical assistance (TA)
from the Florida Housing Coalition (FHC). FHC is the technical advisor designated by the
grantor agency, Florida Housing Finance Corporation. The TA will consist of reviewing current
reconciliation procedures, reports and data collection and maintenance. Any suggested
improvements will be implemented. As of this writing, the contract for TA is being review by
Housing and Human Services and the County Attorney's Office for form and legal sufficiency.
Current Status
HHVS staff and one of the grants accountants have worked closely with the SHIP technical
advisor to complete and resubmit Annual Reports for Fiscal Years 2006/2007, 2007/2008, and
2008/2009. See Current Status for Finding 2010 -1 above.
Finding 20094
State Program Information
Florida Housing Finance Corporation (the Corporation)
State Housing Initiatives Partnership Program (SHIP)
CSFA No. 52.901
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Criteria: Special Tests and Provisions
Condition /Context
No advertisement was made for fiscal year 2009.
Recommendation
The County should adhere to the established SHIP rules with respect to advertising SHIP funds.
Views of Responsible Officials and Planned Corrective Action
The County will adhere to the established SHIP rules.
Current Status
Collier County received $431,868 in SHIP Funding for fiscal year 2009/10; however, it was not
advertised for the following reasons:
1. The funds were required to be used exclusively for loans of not more than $8,000 to
provide purchase assistance to applicants eligible to receive the federal first -time
homebuyer tax credit created through the American Recovery and Reinvestment Act of
2009 for the first year of funding;
2. The loans were intended to front the applicants the tax credit and were intended to be
paid back once the tax credit was received by the applicant; HHVS staff determined that
recapturing these funds would be difficult and would put the County at risk of non-
compliance if funds were not repaid;
3. SHIP guidelines allowed these funds to be used for all approved strategies once the tax
credit program expired, and assuming all loans were recaptured for the remaining two
years of the grant;
4. Since Collier County was already providing purchase assistance through SHIP in excess
of $8,000 per applicant, it was determined that another purchase assistance program
would be redundant, and coupled with the inability to guarantee recapturing the funds
from tax credit rebates, staff decided to leave the grant in the Trust Fund unused for FY
2009/10;
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
5. Since the funds would not be used for FY 2009/10 (no applications would be taken for
assistance), there were no new funds to advertise for this period; therefore, per the SHIP
Program Manual rules, no advertisement was published.
Finding 2009 -5
State Program Information
Florida Department of Transportation (FDOT)
State Infrastructure Bank (SIB) Loan Program
CSFA No. 55.020
Criteria: Reporting
Condition /Context
The State compliance supplement for this program and the loan agreement require the
submission to FDOT of semi - annual progress reports on program and financial activities that
occur each year following the award.
We noted that reports for December 2008 and June 2009 were not completed or submitted to the
FDOT until the time of our testing (September 2009).
Recommendation
The County should review agreements for reporting requirements and if questions arise as to
parry responsible for completion, the County should promptly seek written clarification from the
grantor agency. Also, the County should ensure that reports are reviewed for accuracy and
completeness by someone other than the preparer.
Views of Responsihle Officials and Planned Corrective Action
Originally the SIB agreement was for road construction considered to be a local Collier County
project. After the SIB agreement was executed, Federal Highway Administration (FHWA)
determined that the project would become a state project due to the procurement for a Design
Build Finance of I -75 (IROX). Collier's original local project became part of larger state IROX
project.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
The Grants Coordinator made a verbal inquiry to Florida Department of Transportation (FDOT)
during calendar year 2008 regarding the reporting requirements cited in the SIB agreement and
was advised the report was not Collier's responsibility since the project was not let by Collier nor
would any portion of the project be managed by Collier as originally anticipated. Subsequently, a
report was requested by FDOT for only the most recent six month period. Collier explained to
FDOT that if the report was now required, all reports due during the fiscal year 2009 would need
to be drafted and submitted as due diligence. All reports submitted were reviewed by the
Transportation Administrator though not formally documented as such. Subsequent report
reviews by the Transportation Administrator are documented before submission.
Collier has no access to FDOT's financial activity or financial system which is needed to
complete the report, nor does Collier receive any project status reports on a routine basis. Collier
only has access to the data on the amount of loan payback which Collier disburses. This loan
payment information can be populated by FDOT as well. Collier must request financial activity
and project status information proactively. Requests for data from the grantor on prior year
single audit reporting and CAFR data such as loan amortization schedules and project statuses to
capture asset valuation has proven to be cumbersome and difficult.
Future financial activity requests will be made within 10 business days after the semi - annual
report period end to FDOT in order to verify and obtain correct data by the submission date. The
Division will prepare the report based on the information provided by FDOT. Prior to
submission, the Transportation Administrator will perform a documented review.
Current Status
The Growth Management Division (formerly Transportation Division) continues to follow the
corrective action plan as outlined above. The Acting Grants Accountant continues to draft the
SIB report on a biannual basis as required. The report is first submitted for review and approval
to the Division Administrator prior to final submission to FDOT by the required deadline.
Written procedures are in place to support any staff changes. Staff deems the internal controls
put in place have proven successful to resolve the audit concern.
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Collier County, Florida
Schedule of Prior Audit Findings (continued)
Finding 2009 -6
Federal Program Information
Federal Agency /Program:
U.S. Department of Transportation: Airport Improvement Program— CFDA No. 20.106
Criteria: Davis -Bacon Act
Condition /Context
We noted a project during fiscal year 2009 that was subject to the Davis -Bacon requirements.
We noted that the required prevailing wage clauses were not included in the contract and the
weekly certified payrolls had not been submitted as required. We were informed that the County
planned to obtain the certified payrolls upon project completion; however, the requirements
dictate that weekly certified payrolls are to be submitted during the course of the project.
Recommendation
The County should ensure that the required prevailing wage clauses are included in all contracts
subject to the Davis -Bacon Act and that the required weekly certified payrolls are obtained.
Views of Responsible Officials and Planned Corrective Action
In order to rectify this deficiency Airport Authority personnel will review payroll submittals and
provide documentation to assure compliance with the Davis -Bacon Act. Additionally personnel
will work with any consultants and purchasing to include proper language in bids and contracts.
In addition our procedure manual will be updated.
Current Status
The proper contract language regarding Davis -Bacon is included in bids and contracts. The
Airport Authority performs an examination, determination and documentation by noting on each
payroll statement that the wages paid by the contractor have been reviewed and that they are /are
not in compliance. A log is maintained for the payroll submitted each week by the vendors to
document compliance.
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IF ERNST &Y YOUNG
Ernst & Young LLP
Suite 500
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Management Letter and State Reporting Requirements
Members of the Board of County Commissioners
Collier County, Florida:
We have audited 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 as of and for the year ended
September 30, 2011, which collectively comprise Collier County, Florida's basic financial
statements and have issued our report thereon dated February 29, 2012.
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 OMB Circular
A -1 33, Audits of States, Local Governments, and Non - Profit Organizations. We have issued our
Report of Independent Certified Public Accountants on Internal Control over Financial
Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements
Performed in Accordance with Government Auditing Standards, Report of Independent Certified
Public Accountants on Compliance with Requirements That Could Have a Direct and Material
Effect on each Major Federal Program and State Project and on Internal Control over
Compliance in Accordance with OMB Circular A -133, Section 215.97, Florida Statutes and
Chapter 10.550, Rules of the Auditor General, and Schedule of Findings and Questioned Costs.
Disclosures in those reports and schedule, which are dated February 29, 2012, should be
considered in conjunction with this management letter.
Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550,
Rules of the Auditor General, which govern the conduct of local governmental entity audits
performed in the State of Florida.
We have the following suggestions for improvement in accounting procedures and controls.
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Single Audit Related ML Comments
2011 -1 Grant Compliance
Observation
During our testing of the County's various federal and state grant programs, we noted non-
compliance over the management of several grant programs in the following areas:
P. Payroll allocation and processing errors
P. Subrecipient documentation and monitoring
► Eligibility
► Treatment of change orders
► General reporting
► ARRA Section 1512 reporting
► Period of availability
Recommendation
We recommend enhanced training of employees in grant compliance and more thorough
supervisory review of grant transactions, documentation and reporting. We also recommend the
County consider implementing a central grant management or grant compliance office of
individuals to more effectively monitor grant compliance.
Management's response
Management concurs with the recommendation of the auditors. In light of continuing audit
findings, internal audit review and other actions management was made aware of, the County
replaced the prior Director in Housing, Human and Veteran Services (HHVS) with a top
management team member in late August 2011 to restructure the entire HHVS Department and
implement effective controls, processes and procedures.
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Realizing that this alone was not enough and wanting to effect changes throughout the entire
organization, County Manager, Leo Ochs, submitted a grants reorganization plan to the Board of
County Commissioners on January 30, 2012. In effect, all administrative grant compliance
functions were centralized at the corporate level under the Office of Management and Budget
(OMB).
This centralization will allow the entire organization to benefit from the substantial grants
accounting and compliance expertise that exist within that operation. While responsibilities for
grant program management and service delivery will remain with the operating units, the key
areas of grant compliance such as cash management, procurement, monitoring, reconciliation,
and reporting will be centrally managed and monitored across the agency.
OMB will implement this centralized grants management model in several phases over time. The
immediate focus is bringing obvious noncompliant activities, such as identified in this Single
Audit Report and prior years' reports, back into adherence with grantor requirements.
OMB staff will become fully imbedded in the Agency's day to day administrative grant
functions and existing grants accountants serving under the Administrative Services Division
will be reassigned to the OMB. These employees will be deployed in key operating units to
implement consistent business processes and internal controls and carry out corrective actions.
A. Status of Prior Year Recommendations
2010 -1 Grant Reporting Controls (Sheriff s Office)
Observation
During our single audit testing over reporting requirements for the "Recovery Act — Edward
Byrne Memorial Justice Assistance Grant (JAG) Program/Grants to States and Territories"
federal program, we noted that for one of the quarterly performance reports during fiscal year
2010 sampled that the expenditures were overstated by approximately $2,850. The report
covered the three month period ended June 30, 2010 and erroneously included March 2010
expenditures, which had been previously reported in the performance report covering the prior
three months ended March 31, 2010.
We also noted that there was no evidence of reports submitted to the grantor agency being
reviewed prior to submission by someone other than the preparer for accuracy and completeness.
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Recommendation
We recommend that all reports submitted to grantor agencies be subjected to a supervisory
review for accuracy and completeness prior to submission. The preparer and the reviewer should
sign -off on the report and a copy should be retained in the file to provide evidence that the report
was properly reviewed.
Management's response
The expenditures on the quarterly reports are a compilation of the monthly claims which have
been submitted to the grantor. Monthly claims are reviewed and approved by the Finance
Director prior to submission. The report for the period ended June 30, 2010 inadvertently
included one expenditure from the prior reporting period. It should be noted that all expenditures
were accurately reported in the final closeout report for the grant.
A spreadsheet is maintained which details expenditures for the grant claims and provides
documentation for what is submitted on the quarterly reports. Because all required reports are
directly submitted online, the spreadsheet will serve as a review document for the input for the
submitted expenditure information. The preparer and the reviewer will sign -off on the
spreadsheet. The submitted report will be compared to the spreadsheet to ensure correct
information was reported to the grantor.
Current year status
Spreadsheets are maintained for expenditures for each individual grant. The spreadsheets are
used to input required information for online reports. All spreadsheets are reviewed and signed
off on by the preparer and the Finance Director prior to any claims being submitted. The Grants
Coordinator compares the information reported to the grantor to the appropriate spreadsheet to
ensure correct information was reported.
2010 -2 Subrecipient Agreements — ARRA Requirements
Observation
OMB Circular A -133 guidelines require that pass- through entities separately identify to each
subrecipient, and document at the time of the subaward and disbursement of funds, the Federal
award number, CFDA number, and the amount of American Recovery and Reinvestment Act
(ARRA) funds; and require their subrecipients to provide appropriate identification in their
Schedule of Expenditures of Federal Awards (SEFA) and Data Collection Form (SF -SAC). For
certain ARRA federal programs tested during our single audit (i.e., Community Development
Block Grant ARRA Entitlement Grants and Homelessness Prevention and Rapid Re- Housing
Program) for which the County made awards to subrecipient organizations, we noted that the
agreements with the subrecipients provided the required information regarding the awards and
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indicated that "the subrecipient shall maintain all records required by ARRA." However, they
did not explicitly indicate that the subrecipients are to appropriately identify the ARRA funds in
their SEFA and SF -SAC.
Recommendation
We recommend that the County update its standard form of subrecipient agreement to explicitly
state the requirement to provide appropriate identification of ARRA funds in the SEFA and SF-
SAC.
Management's response
The Collier County Department of Housing, Human & Veteran Services (HHVS) concurs with
this audit observation and agrees to amend its American Recovery and Re- Investment Act
(ARRA) grants to more specifically outline the Schedule of Expenditures of Federal Awards
(SEFA) and the Data Collection Form (SF -SAC) reporting requirement for its sub recipients. The
amendment will be made to all Homelessness Prevention and Rapid Re- Housing Program
(HPRP) and Community Development Block Grant - Recovery (CDBG -R) sub recipient grant
agreements.
Current year status
Existing subrecipient agreements were approved by the Board of County Commissioners on
May 24, 2011 to amend them and incorporate additional American Recover and Reinvestment
Act of 2009 (ARRA) reporting requirements. All future subrecipient agreements will contain the
proper reporting requirements as well.
C. Other Required Communications
The Rules of the Auditor General, Section 10.554 (1)(i)(1), require that we address in the
management letter whether or not corrective actions have been taken to address significant
findings and recommendations made in the preceding annual financial audit report. The status of
recommendations made in the preceding annual financial audit is included above.
In connection with our audit, we noted no instances of noncompliance with Section 218.415,
Florida Statutes regarding the investment of public funds.
The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in a
management letter any recommendations to improve Collier County, Florida's financial
management, accounting procedures, and internal controls. Current year recommendations to
improve Collier County, Florida's financial management, accounting procedures, or internal
controls are included above.
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The Rules of the Auditor General, Section 10.554(1)(i)(4), require that we address in a
management letter any violations of provisions of contracts and grant agreements or abuse that
have an effect on the financial statements that is less than material but more than
inconsequential. The results of our audit disclosed no violations of provisions or contracts and
grant agreement or abuse that would have an effect on the financial statement that is less than
material but more than inconsequential.
The Rules of the Auditor General, Section 10.554(l)(i)(5), require disclosure in the management
letter of the following matters, if not addressed in the auditor's report on internal control over
financial reporting and on compliance and other matters or in the schedule of findings and
questioned costs, and are not clearly inconsequential:
(a) Violations of laws, rules, regulations, and contractual provisions or abuse that have
occurred, or are likely to have occurred, would have an immaterial effect on the financial
statements, and were discovered within the scope of the audit;
(b) Control deficiencies that are not significant deficiencies, including, but not limited to:
(1) Improper or inadequate accounting procedures (e.g., the omission of required
disclosures from the annual financial statements);
(2) Failures to properly record financial transactions; and
(3) Other inaccuracies, shortages, defalcations, and instances of fraud discovered by, or
that come to the attention of, the auditor.
The results of our audit disclosed no violations of laws, rules, regulations, and contractual
provisions or abuse, no improper or illegal expenditures, and no control deficiencies other than
the internal control recommendations included above.
The Rules of the Auditor General, Section 10.554(1)(i)(6), also require that the name or official
title and legal authority for the primary government and each component unit of the reporting
entity be disclosed in the management letter, unless disclosed in the notes to the financial
statements. In that regard, Collier County, Florida was established under Chapter 107, Section 1,
Florida Statutes. The legal authority for Collier County and its component units are discussed in
Note 1 to the financial statements. During the course of our audit of the County, nothing came to
our attention that would cause us to believe that the County was in a state of financial
emergency, as defined by Section 218.503(1), Florida Statutes.
As required by the Rules of the Auditor General, Section 10.554(1)(i)(7)(b), the County filed its
report pursuant to Section 218.32(1)(a), Florida Statutes. Based on our review of the financial
information contained in this report, no material differences were found in comparing this
information to that of the basic financial statements.
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As required by the Rules of the Auditor General, Sections 10.554(1)(i)(7)(c) and 10.556(7), we
applied financial condition assessment procedures. 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 the review of financial information provided by same.
This report is intended solely for the information and use of the Board of County
Commissioners, management and the Auditor General of the State of Florida, and is not intended
to be and should not be used by anyone other than these specified parties.
February 29, 2012
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ANNUAL DEBT REPORT (UNAUDITED)
Pursuant to the Collier County Debt Policy the following Tables were prepared for the fiscal
year ended September 30, 2011.
Table 1. Calculation of Collier County General Governmental Debt Ratio
Table 2. Calculation of Collier County Enterprise Debt Ratios
TABLE 1
Calculation of Collier County General Governmental Debt Ratio
For the Fiscal Year Ended September 30, 2011
Bondable revenues, as defined by Collier County Debt Policy:
Current Ad Valorem Taxes
$ 251,606,665
Governmental Impact Fees
12,080,534
Half Cent Sales Tax
28,364,419
Developmental Fees
11,415,425
State Revenue Sharing
7,723,015
5th Cent Local Option Gas Tax
4,937,121
6th Cent Local Option Gas Tax
6,477,711
Constitutional Gas Tax
3,841,658
Seventh Cent Gas Tax
1,677,884
Ninth Cent Gas Tax
1,377,126
Parks and Recreation Fees
7,051,590
Tourist Development Tax
13,883,740
Court Facilities Fees
1,113,900
Communications Services Tax
5,589,726
Total bondable revenues
$ 357,140,514
Fiscal 2011 governmental debt service requirements:
Series 2002 Capital Improvement Bonds
Principal:
$ 2,540,000
Interest:
659,401
Series 2003 Capital Improvement Bonds
Principal:
1,405,000
Interest:
1,586,238
Series 2005 Capital Improvement Bonds
Principal:
5,815,000
Interest:
6,731,894
Series 2003 Gas Tax Bonds
Principal:
5,725,000
Interest:
2,823,915
Series 2005 Gas Tax Bonds
Principal:
1,460,000
Interest:
4,574,612
Series 2010 Special Obligation Bonds
Principal:
1,545,000
Interest:
2,257,711
Series 2010B Special Obligation Bonds
Principal:
_
Interest:
338,985
State Infrastructure Bank Loan
Principal:
1,875,930
Interest:
164,070
Total fiscal 2011 governmental debt service requirements
$ 39,502,756
Governmental debt ratio of fiscal year 2011 debt service requirements
to total bondable revenues (13.0% maximum allowed by County policy)
11.1%
Notes:
All revenues are GAAP based accrual and debt service is based upon current amortization tables for
the fiscal year indicated. Debt prepayments are not included as debt service requirements.
TABLE 2
Calculation of Collier County Enterprise Debt Ratios
For the Fiscal Year Ended September 30, 2011
Collier County Water and Sewer District:
Total Sales Revenue
$ 101,960,419
Allowance for Funds Prudently Invested
1,235,636
Miscellaneous Revenue
2,256,439
Total Operating Revenue
105,452,494
Non - Operating Revenue
1,386,476
Gross Revenue
106,838,970
Less: Operation and Maintenance
Expense (excluding Depreciation and Amortization)
60,106,549
Net Revenue Available for Debt Service (1)
$
46,732,421
Total Fiscal Year 2011 Debt Service on Bonds (2)
$
11,679,957
Net Revenue Debt Service Coverage on Bonded Debt
(100% Required) - (1/2)
400%
Other Pledged Funds:
System Development Fees
$
7,415,367
Special Assessment Proceeds
520,826
Total Pledged Funds Available for Debt Service (3)
$
54,668,614
Total Fiscal Year 2011 Debt Service on Bonds (4)
$
11,679,957
Total Pledged Funds Debt Service Coverage on Bonded Debt
(125% Required) - (3/4)
468%
Total Pledged Funds Available for Debt
Service After Payment of Bonds (5)
$
42,988,657
Total Fiscal Year 2011 Debt Service on
Subordinated Indebtedness (6)
$
9,911,370
Calculated Coverage on Subordinated Indebtedness - (5/6)
434%
Total Pledged Funds Available for System
Purposes
$
33,077,287
Summary Debt Statement for Fiscal Year 2011
General Governmental Debt:
Collier County's Debt Policy sets the maximum allowable governmental debt ratio at 13.0 %, and
the County continues to operate below this self - imposed maximum. The Constitution of the
State of Florida and the Florida Statutes set no legal debt limit. 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 increased from 9.3 %, as of September 30, 2010, to 11.1% for the
fiscal year ended September 30, 2011. The increase in the debt ratio is primarily the result of
an overall decline in bondable revenues of 9.3 %. Within the bondable revenues, current ad
valorem taxes decreased by 12.1 % due to decreases in taxable assessed value and governmental
impact fees declined by 35.4% as impact fee rates charged have been indexed downward.
Offsetting these decreases was a 13.3% increase in developmental fees, a 5.3% increase in sales
tax revenues and an 8.0% increase in tourist development tax revenues over fiscal year 2010.
Total governmental debt service requirements increased by 8.3% from fiscal year 2010 to fiscal
year 2011 due to the refinancing of the County's variable rate commercial paper loans in July of
2010. The variable rate commercial paper loans, paying interest only, were replaced by the
Series 2010 Special Obligation Bonds that pay semi - annual principal and interest. A recent
payoff of the subordinate State Infrastructure Bank loan, coupled with continued pay down of
principal and what is projected to be stabilizing general governmental revenue, will likely
produce a decrease in the general governmental debt ratio for fiscal year ending 2012. Assuming
no new debt issuance, this downward trend should continue.
In November of 2010, Collier County refinanced all of its outstanding Series 2002 Capital
Improvement Revenue Bonds with the Series 2010B Special Obligation Revenue Bonds. The
Series 2010 bonds have a fixed interest rate and an all in true interest cost of 3.1%. The
refinancing of the Series 2002 bonds achieved a net present value savings on the refunded bonds
of 5.4 %. There were no other general governmental debt borrowings for fiscal year 2011.
Governmental Debt Ratings Table:
Current Ratings (as of 3/3/2012)
Fitch
Moody's
Standard & Poor's
Capital Improvement Revenue Bonds
AA-
Al
AA-
Gas Tax Revenue Bonds
AA-
A2
A
Special Obligation Bonds
AA
Aa2
AA
A rating of AA is an indication by Fitch Ratings of an investment grade instrument, but one
which carries a slightly higher risk than a AAA rated bond. Fitch also uses intermediate +/-
modifiers for each AA category.
A rating of Aa2 is an indication by Moody's Investors Service of a high quality investment grade
instrument with very low credit risk, but "their susceptibility to long -term risks appears
somewhat greater" than a Aaa rated bond. A rating of Al is an indication by Moody's of an
investment grade instrument with low credit risk but the bond has elements present that suggest a
higher susceptibility to impairment over the long term than a Aa investment. Moody's uses
intermediate modifiers of 1 (higher) to 3 (lower) within the Aa and A ranges.
A rating of AA is an indication by Standard and Poor's of an investment grade instrument issued
by a "quality borrower" but with slightly more risk than a AAA grade investment. A rating of A
is an indication by Standard and Poor's of an investment grade instrument but one more
susceptible to adverse changes in circumstances and economic conditions than AAA or AA
instruments. Standard and Poor's also uses intermediate +/- modifiers for each AA category.
The County's half cent sales tax revenues are pledged for the payment of all outstanding Capital
Improvement Revenue bonds. Fiscal year 2011 sales tax revenues covered the current year debt
service payments on all outstanding Capital Improvement Revenue bonds at 151%. The
combined gas tax revenues are pledged for the payment of all the Gas Tax Revenue bonds.
Fiscal year 2011 gas tax revenues covered the current year debt service payments on all
outstanding Gas Tax Revenue bonds at 126 %.
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 are set by bond covenants. Net
revenues, defined as operating revenues plus non - operating revenues less operating expenses,
excluding depreciation, must cover bonded debt service at 100 %. Total pledged funds, defined
as net revenues plus system development fees and special assessments must cover bonded debt at
125 %. Net revenue coverage on bonded debt was 400% and total pledged funds coverage on
bonded debt was 468% for fiscal year 2011. Net revenue available for debt service decreased
during fiscal year 2010 by 8.3 %, mainly due to an 18.1% increase in operating and maintenance
expenses, excluding depreciation. Operating expenses increased as the Water and Sewer
District's focus has shifted from capital expansion to maintenance and optimization of existing
facilities. Total pledged funds coverage on bonded debt decreased during fiscal year 2011
mainly due to the decrease in net revenue available for debt service discussed above. Bonded
debt service payments decreased by 3.6% when compared to fiscal year 2010. The District's
calculated coverage on subordinated debt, all in the form of State Revolving Fund Loans, is
434 %. The total pledged funds coverage required by the loan agreements varies between 115%
and 125 %, depending upon the individual loan agreement. The Collier County Water and Sewer
District issued no debt during fiscal year 2011.
se Debt Ratings Table:
Current Ratings (as of 3/3/2012)
Fitch
Moody's
Standard & Poor's*
Water and Sewer Revenue Bonds
AA+
Aa2
-
*- Standard & Poor's does not currently rate County Water and Sewer bonds.
A rating of AA is an indication by Fitch Ratings of an investment grade instrument, but one
which carries a slightly higher risk than a AAA rated bond. Fitch also uses intermediate +/-
modifiers for each AA category.
A rating of Aa2 is an indication by Moody's Investors Service of a high quality investment grade
instrument, but "their susceptibility to long -term risks appears somewhat greater" than a Aaa
rated bond. Moody's uses intermediate modifiers of 1 (higher) to 3 (lower) within the Aa and A
ranges.
The District maintains a single renewal and replacement reserve for water and sewer, for its
capital spending program. The District's continued strategy of revenue - centric, cost - contained,
risk based capital program management toward integrated Asset Management Program, and its
decisions against measured operational risk, were deliberately designed to manage deferral of
capital construction. This, together with the "pay as you go" approach, maintains the District's
financial sustainability. The District has chosen to avoid pre- approved State Revolving Fund
loan drawdowns to preserve the "pay as you go" approach, thus avoiding additional outstanding
debt.
Since FY07, the District, operating in an uncertain cost and revenue market environment,
deferred with measured operational risk significant levels of spending in capital improvement
projects. The deferral of significant capital rehabilitation projects over this time period
maintained the District's liquidity and financial flexibility. These decisions protected the
District's favorable bond rating; avoided the potential of future user -fee rate spikes, and negated
costly borrowing with the associated increases in annual debt service. District management
believes this approach improved financial stability in the face of the uncertainties in the local
economy, and allowed for the appropriate response to economic recovery. This deferral of
capital spending, however, has elevated the risk level of everyday operations within the utility;
the deferrals cannot be considered avoided cost as the deferred costs for the next 5, 10, and 20
year planning horizons will be a part of a more specific execution timeline within the Asset
Management process. In the latter part of FY10, through FY11, management re- evaluated
previously deferred projects, and directed execution on projects that maintained minimally
acceptable levels of risk in compliance, while meeting customer demands. Through aggressive
and proactive operational management, Water and Sewer District management believes that this
risk level is currently acceptable in the balance of the overall mission to stay in operational and
regulatory compliance, meet customer demand, and posture for a best -value future.
SPECIAL - PURPOSE FINANCIAL STATEMENTS
Collier County, Florida
Clerk of the Circuit Court
Year Ended September 30, 2011
With Report of Independent Certified Public Accountants
Ernst & Young LLP
=1 ERNST & YOUNG
Collier County, Florida
Clerk of the Circuit Court
Special - Purpose Financial Statements
Year Ended September 30, 2011
Contents
Report of Independent Certified Public Accountants ........................................ ..............................1
Special - purpose Financial Statements
Special - Purpose Balance Sheet — Governmental Funds .................................... ..............................3
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balances — Governmental Funds .................................................................... ..............................4
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — General Fund ................................................ ..............................5
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — Court Services Fund (Budgetary Basis) ....... ..............................6
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — Public Records Modernization Fund ............ ..............................7
Special - Purpose Balance Sheet — Agency Funds .................................. ...............................
Notes to Special - Purpose Financial Statements ................................................. ..............................9
Combining Information
Combining Balance Sheet — Agency Funds ................................................... ...............................
.23
Statement of Changes in Assets and Liabilities — Agency Funds ..................... .............................24
Other Reports
Report of Independent Certified Public Accountants on Internal Control Over
Financing Reporting and on Compliance and Other Matters Based on an Audit of
Special - Purpose Financial Statements Performed in Accordance With Government
AuditingStandards ........................................................................................ .............................25
ManagementLetter ........................................................................................... .............................27
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Report of Independent Certified Public Accountants
Honorable Dwight E. Brock, Clerk of the Circuit Court
Collier County, Florida
We have audited the accompanying special - purpose financial statements of each major fund and
the aggregate remaining fund information of the Collier County, Florida Clerk of the Circuit
Court (the Clerk of the Circuit Court), as of and for the year ended September 30, 2011, as listed
in the table of contents. These special - purpose financial statements are the responsibility of the
Clerk of the Circuit Court's management. Our responsibility is to express opinions on these
special - purpose financial statements based on our audit. The prior year summarized comparative
financial information has been derived from the Clerk's special - purpose financial statements for
the year ended September 30, 2010, and in our report dated January 10, 2011, we expressed
unqualified opinions on the respective financial statements of each major fund and the aggregate
remaining fund information.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the special - purpose
financial statements are free of material misstatement. We were not engaged to perform an audit
of the Clerk of the Circuit Court's internal control over financial reporting. Our audit included
consideration of internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Clerk of the Circuit Court's internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test
basis, evidence supporting the amounts and disclosures in the special - purpose financial
statements, assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall special - purpose financial statement presentation.
We believe that our audit provides a reasonable basis for our opinions.
As discussed in Note 1, the accompanying special - purpose financial statements referred to above
were prepared for the purpose of complying with Section 218.39, Florida Statutes, and
Chapter 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These
special - purpose financial statements are not intended to be a complete presentation of the Clerk
of the Circuit Court's financial position and its changes in financial position, where applicable,
therefore, for the years then ended, in conformity with accounting principles generally accepted
in the United States. Additionally, the special - purpose statements present only the Clerk of the
1112- 1316003
A member firm of Ernst & Young Global Limited
MERNST & YOUNG
Circuit Court and do not purport to, and do not, present fairly the financial position of Collier
County, Florida, as of September 30, 2011, and the changes in its financial position, where
applicable, for the year then ended, in conformity with accounting principles generally accepted
in the United States.
In our opinion, the special - purpose 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 of the Circuit Court as of September 30, 2011, and the
respective changes in financial position thereof, and the budgetary comparison for the general
fund, the court services fund, and the public records modernization fund for the year then ended,
in conformity with accounting principles generally accepted in the United States.
As discussed in Note 1, the Clerk of the Circuit Court changed its method of accounting and
reporting for governmental fund balances effective October 1, 2010 as a result of the adoption of
Governmental Accounting Standards Boards Statement No. 54, Fund Balance Reporting and
Governmental Fund Type Definitions.
In accordance with Government Auditing Standards, we have also issued our report dated
December 19, 2011 on our consideration of the Clerk of the Circuit Court'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 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 internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards and should be considered in assessing the results of our audit.
This report is intended solely for the information and use of the Clerk of the Circuit Court,
management, the Board of County Commissioners of Collier County, Florida, and the Auditor
General of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.
f UP
December 19, 2011
1112 - 1316003 2
A member firm of Ernst & Young Global Limited
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Collier County, Florida
Clerk of the Circuit Court
Special - Purpose Statement of Revenues, Expenditures, and Changes
in Fund Balance — Budget and Actual — General Fund
Year Ended September 30, 2011
Revenues:
Charges for services
[nterest income
Total revenues
Expenditures:
General government:
Personal services
Operating expenditures
Capital outlay
Total expenditures
Excess (deficiency) of revenues over
(under) expenditures
Other financing sources (uses):
Transfers in:
Collier County, Florida Board of County
Commissioners appropriations
Transfers out:
Collier County, Florida Board of County
Commissioners:
Distribution of excess appropriations
Total other financing sources (uses)
Excess of revenues and other financing
sources over expenditures
Fund balance — beginning of year
Fund balance — end of year
See accompanying notes.
Variance
With Final
Budget
Budget Positive
Original Final Actual (Negative)
$ 2,287,100
$ 2,456,100
$ 2,565,607 $
109,507
30,000
90,000
21,101
(68,899)
2,317,100
2,546,100
2,586,708
40,608
5,604,900
5,296,500
5,247,432
49,068
1,605,500
1,637,400
1,635,724
1,676
116,600
885,400
882,138
3,262
7,327,000
7,819,300
7,765,294
54,006
(5,009,900) (5,273,200) (5,178,586) 94,614
5,009,900 5,273,200 5,273,200 —
— — (94,614) (94,614)
5,009,900 5,273,200 5,178,586 (94,614)
$ — $ — $ — $ —
1112 - 1316003 5
Collier County, Florida
Clerk of the Circuit Court
Special - Purpose Statement of Revenues, Expenditures, and Changes in
Fund Balance — Budget and Actual — Court Services Fund (Budgetary Basis)
Year Ended September 30, 2011
Variance
With Final
Budget
Budget Positive
Original Final Actual (Negative)
Revenues:
Intergovernmental $ 6,564,275 $ 8,714,858 $ 8,109,135 $ (605,723)
Total revenues 6,564,275 8,714,858 8,109,135 (605,723)
Expenditures:
General government:
Personal services 6,046,468
7,156,787
6,983,219
173,568
Operating expenditures 517,807
519,555
479,299
40,256
Total expenditures 6,564,275
7,676,342
7,462,518
213,824
Excess of revenues over expenditures —
1,038,516
646,617
(391,899)
Other financing uses:
Transfers out:
Distribution of excess court revenue to
the State —
(1,038,516)
(1,038,516)
—
Total other financing uses —
(1,038,516)
(1,038,516)
—
Deficiency of revenues and other financing
uses under expenditures —
—
(391,899)
(391,899)
Fund balance — beginning of year —
—
630,874
630,874
Fund balance — end of year $ — $
— $
238,975 $
238,975
See accompanying notes
1112- 1316003 6
Collier County, Florida
Clerk of the Circuit Court
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — Public Records Modernization Fund
Revenues:
Charges for services
Interest income
Total revenues
Expenditures:
General government:
Personal services
Operating expenditures
Capital outlay
Total expenditures
Deficiency of revenues under expenditures
Other financing sources (uses):
Transfers in from the Collier County, Florida
Board of County Commissioners
Transfers out to other fiords
Total other financing sources (uses)
Deficiency of revenues and other financing
sources (uses) under expenditures
Fund balance — beginning of year
Fund balance — end of year
See accompanying notes.
Year Ended September 30, 2011
Variance
With Final
Budget
Budget Positive
Original Final Actual (Negative)
$ 600,000 $ 600,000 $ 1,179,454 $ 579,454
6,000 6,000 8,939 2,939
606,000 606,000 1,188,393 582,393
799,200
799,200
781,649
17,551
459,400
608,800
382,451
226,349
1,025,900
876,500
150,720
725,780
2,284,500
2,284,500
1,314,820
969,680
(1,678,500)
(1,678,500)
(126,427)
1,552,073
(1,678,500) (1,678,500) (126,427) 1,552,073
2,565,258 2,565,258 3,749,172 1,183,914
$
886,758 $ 886,758 $ 3,622,745 $ 2,735,987
1112 - 1316003 7
Collier County, Florida
Clerk of the Circuit Court
Special - Purpose Balance Sheet — Agency Funds
Assets
Cash and cash equivalents
Total assets
Liabilities
Due to the Collier County,
Florida Board of County Commissioners
Due to other governments
Deposits
Total liabilities
See accompanying notes.
1112 - 1316003
September 30
2011 2010
$ 18,905,959 $ 21,474,385
$ 18,905,959 $ 21,474,385
$ 349,252
$ 408,708
1,917,563
1,062,928
16,639,144
20,002,749
$ 18,905,959
$ 21,474,385
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements
Year Ended September 30, 2011
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida Clerk of the Circuit Court (the 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 Clerk's budget
including the public records modernization fund and the juvenile assessment center fund is
approved by the Clerk.
The special - purpose financial statements presented include the general fund, special revenue funds,
and agency funds of the Clerk's office. The accompanying special - purpose financial statements
were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section
10.557(3), Rules of the Auditor General for Local Governmental Entity Audits.
Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires
the Clerk to only present fund financial statements. Accordingly, due to the omission of
government -wide financial statements and related disclosures including a management's
discussion and analysis, these special - purpose financial statements do not constitute a complete
presentation of the financial position of the Clerk as of September 30, 2011 and the changes in its
financial position 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 special - purpose
financial statements prepared in conformity with accounting principles generally accepted in the
United States.
The financial activities of the Clerk, as a constitutional officer, are included in the Collier
County, Florida Comprehensive Annual Financial Report.
The general operations of the Clerk are funded by fees from third parties, appropriations from the
Collier County, Florida Board of County Commissioners (Board), appropriations from the State
of Florida (since July 1, 2009) and interest income. Pursuant to Section 218.32(2) 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 State via appropriations
from the State of Florida (since July 1, 2009) and a small child support grant; any surplus is
returned to the State.
1112 - 1316003 9
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Measurement Focus, Basis of Accounting, and Basis of Presentation
These special - purpose 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.
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 special - purpose
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 — This fund was 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.
Public Records Modernization Fund — This fund is 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. Effective July 1, 2004, an additional amount is collected pursuant to Section 28.24
(12) (e), Florida Statutes, and used exclusively for funding court- related technology needs.
1112 - 1316003 10
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (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.
Court- related activities were funded by the fees charged by the Clerk as authorized by Florida
Statutes, for maintaining the County and Circuit Court records, and collecting the fines and fees
assessed by the courts through June 30, 2009. As of July 1, 2009, the Clerk is funded through an
appropriation from the State of Florida and a small child support grant. These court fees and
appropriations are to be used exclusively for funding court- related operations of the Clerk. The
excess of revenues collected over expenditures is returned to the Florida Clerks of Court
Operations Corporation.
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 current liabilities of the 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.
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 other financing
use in the accompanying special - purpose financial statements.
Section 28.37, Florida Statutes, provides that all court related revenues are considered State
revenue effective July 1, 2009, and are to be remitted monthly to the Department of Revenue.
Prior to this law change the Clerk remitted to the Department of Revenue the cumulative excess
of all fees, service charges, court costs, and fines retained by the Clerk over the amount needed
to meet the approved budget amounts established by Section 28.36, Florida Statutes for the period
from October 1, 2008 through June 30, 2009.
1112- 1316003 11
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
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 — Agency Funds — These funds are used to account for assets held by the Clerk
in a trustee capacity or as an agent for individuals, private organizations, other governments, and
other funds. The agency funds are custodial in nature (assets equal liabilities), and do not involve
measurement of results of operations or have a measurement focus. Agency funds are accounted
for using the full 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
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 operating costs of the general fund when the payments are
made to employees. The Clerk is not legally required to accumulate financial resources for these
unmatured obligations. Accordingly, the liability for compensated absences is not reported in the
general fund, but rather is reported in the basic financial statements of Collier County, Florida.
Prepaid Expenses
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.
1112- 1316003 12
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of these special - purpose 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 special - purpose
financial statements and the reported amounts of revenues and expenditures during that period.
Actual results could differ from those estimates.
Comparative Data
The special - purpose financial statements include certain prior year summarized comparative
information in total but not at the level of detail required for a complete presentation in conformity
with generally accepted accounting principles. Accordingly, such information should be read in
conjunction with the Clerk's special - purpose financial statements for the year ended
September 30, 2011, from which the summarized information was derived.
New Fund Balance Reporting and Governmental Fund -Type Definitions
The Clerk adopted GASB Statement No. 54, Fund Balance Reporting and Governmental Fund
Type Definitions (GASB Statement No. 54) effective October 1, 2010. This GASB Statement
clarifies governmental fund balance classifications and 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, 2011.
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 Court Services and
Public Records Modernization fall into this category.
1112 - 1316003 13
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
The adoption of GASB Statement No. 54 did not have an impact on the Clerk's general fund
financial statements at September 30, 2011, since the Clerk does not maintain fund balances in
the general fund. Fund balances maintained in the Court Services fund and Public Records
Modernization fund 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.
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 public records modernization fund and the budget related to the recording function
based on anticipated fees. The budget of the Clerk for the general fund transfer from the Board is
submitted to and approved by the Board.
Pursuant to Section 28.36, Florida Statutes, a balanced court- related budget must be prepared on
or before October 1 (for the period starting the next July 1 through June 30) and submitted to the
Florida Clerks of Court Operations Corporation (the 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 revenue
deficit is still projected, a request can be submitted to release funds from the Department of
Revenue Clerks of the Court Trust Fund. Effective July 1, 2009, all revenues in the court fund
are State revenues and remitted monthly to the State of Florida. The court functions are funded
through a State appropriation based on the budget submittal to the Corporation.
The budget is prepared on a basis consistent with accounting principles generally accepted in the
United States, except for the classification and presentation of the distribution of excess court
revenue to the State for the Court Services Fund, which is treated as an other financing use
(transfer out) for budgetary purposes and as an expenditure in the special - purpose statement of
revenues, expenditures, and changes in fund balance in the court services fund. The annual
budget serves as the legal authorization for expenditures. Any subsequent amendments to the
Clerk's transfer budget funded by the Board must be approved by the Board, amendments to the
Clerk's fee budget are at the discretion of the Clerk, and any amendments of the court budget
must be approved by the Corporation for the court services fund. Expenditures may not legally
1112- 1316003 14
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
2. Budgetary Process (continued)
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, whenever legally authorized.
3. Cash and Cash Equivalents
At September 30, 2011, the carrying value of the Clerk's cash and cash equivalents was
as follows:
Carrying
T pe Maturity Value Credit Rating
Cash on hand
Demand deposits
Total cash and cash equivalents
N/A $ 7,600 N/A
N/A 25,006,983 N/A
$ 25,014,583
The Clerk maintains a cash pool for the deposits of all governmental and agency funds. Each
fund type's portion of these balances is presented as cash and cash equivalents in the
accompanying special - purpose financial statements. Interest income is allocated to each fund
based on its proportionate balance in the pool.
Cash and cash equivalents as of September 30, 2011, are reported as $6,108,624 and
$18,905,959 in the governmental funds and fiduciary funds, respectively.
Custodial Credit Risk
At September 30, 2011, 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.
1112 - 1316003 15
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
3. Cash and Cash Equivalents (continued)
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 (formerly the Local Government
Surplus Funds Trust Fund) 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
The Clerk has no specific investment policy regarding interest rate risk and does not currently
hold any investments.
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. Through June 30, 2009 interest revenue from funds invested was
recorded as income of the office of the Clerk and any excess interest earnings were returned to
the Board at year -end as described in Note 1. Effective July 1, 2009, Florida Statutes, Section
28.33 was amended and interest income became revenue to the Board. Interest income is
allocated to each fund based on its proportionate balance in the pool. Interest income of $21,101
is reported in the general fund for the year ended September 30, 2011, as the portion of interest
earned on Clerk funds.
1112 - 1316003 16
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
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 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 their estimated fair value on the date received.
The Cleric maintains custodial responsibility for the capital assets used by the office. No
depreciation has been provided on capital assets in the accompanying special - purpose financial
statements. However, depreciation expense on these assets is recorded in the basic financial
statements of Collier County, Florida.
6. Long -Term Liabilities
The following is a summary of changes in general long -term liabilities which are reflected in the
basic financial statements of Collier County, Florida:
October 1, 2010 Additions Deletions September 30, 2011
Accrued compensated absences $ 1,696,383 $ 766,169 $ 750,589 $ 1,711,963
Of these obligations, approximately $757,544 is expected to be paid during the fiscal year ending
September 30, 2012. These long -term liabilities are not reported in the special - purpose financial
statements of the Clerk since they have not matured.
7. Employee Retirement Plan
Substantially all full -time employees of the Clerk of the Circuit Court filling regularly
established positions are eligible to participate in the State of Florida Retirement System
(System), a cost- sharing multiple- employer defined benefit plan administered by the State of
Florida, Division of Retirement. The System is a defined benefit plan for all state, and
participating county, district school board, community college and university employees
(Pension Plan). The System also offers eligible employees participation in an alternative defined
1112-1316003 17
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
7. Employee Retirement Plan (continued)
contribution plan (Investment Plan). The Clerk of the Circuit Court participates in the Elected
State Officers' Class. The plan is administered by the State of Florida. Contribution rates are
established statewide for all participating governmental units. Accordingly, the actuarial
information and related disclosures attributable to the Clerk of the Circuit Court's employees are
not determinable.
Employees enrolled in the plan prior to July 1, 2011, who retire at or after age 62 with 6 years of
credited service, or with 30 years of service regardless of age, are entitled to a retirement benefit,
payable monthly for life, equal to 1.60% for regular employees, 2% for senior management and
3.00% for county elected officials for each year of credited service times the final average
compensation. Employees enrolled on or after July 1, 2011, who retire at or after age 65 with 8
years of credited service or 33 years of service regardless of age, are entitled to the retirement
benefits as outlined above. Final average compensation is the employee's average of the five
highest fiscal years of salary earned during credited service for those enrolled prior to July 1,
2011, and the eight highest fiscal years of salary for those hired on or after July 1, 2011. Vested
employees may retire before age 62 and receive benefits that are reduced 5% for each year prior
to normal retirement age. Employees participating in the Investment Plan are vested after one
year of service with no age requirement. The System also provides death and disability benefits.
Benefits are established by Chapter 121, Florida Statutes, and Chapter 22B, Florida
Administrative Code.
The Deferred Retirement Option Program (DROP) is a program that provides an alternative
method for payment of retirement benefits for a specified and limited period for members of the
System, effective July 1, 1998. Under this program, the employee may participate as of their
normal retirement date and have their benefits accumulated in the Florida Retirement System
Trust Fund, earning interest, while continuing to work for a System employer. Employees
enrolled in DROP prior to July 1, 2011, earn interest on accumulated benefits in the Trust Fund
at 6.5 %, those enrolling on or after July 1, 2011, earn interest at 1.3 %. The participation in the
program does not change conditions of employment. When the DROP period ends, maximum of
60 months, employment must be terminated. At the time of termination of employment, the
employee will receive payment of the accumulated DROP benefits, and begin receiving their
monthly retirement benefit (in the same amount determined at retirement, plus annual cost -of-
living increases). Investment Plan members are not eligible to participate in the DROP program,
but Pension Plan members are eligible to roll their DROP lump sum into the Investment Plan as
one of the distribution methods under the Pension Plan.
1112- 1316003 18
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
7. Employee Retirement Plan (continued)
The System publishes an annual report that provides ten -year historical trend information
about progress made in accumulating sufficient assets to pay benefits when due. This report may
be obtained by writing to the Division of Retirement Research Education and Policy Section
1317 Winewood Boulevard, Building 8, Tallahassee, Florida 32399 -1560, or by calling
(877) 377 -1737, or accessing their Internet site at www.dms.MyFlorida.com.
The Clerk of the Circuit Court is required to contribute an actuarially determined rate. Rates
from October 1, 2010 through June 30, 2011, were 18.64% for county elected officials, 14.57%
for senior management, 10.77% for regular employees and 12.25% for DROP employees based
on covered payroll. The current rates, effective July 1, 2011, are 11.14% for county elected
officials, 6.27% for senior management, 4.91 % for regular employees and 4.42% for DROP
employees based on covered payroll. In addition, as of July 1, 2011, employee contributions of
3.00% are required of all Pension Plan and Investment Plan members, except for those in DROP.
The contribution requirements of the Clerk of the Circuit Court are established and may be
amended by the State of Florida. The Clerk of the Circuit Court's employer contributions to the
plan for the years ended September 30, 2011, 2010 and 2009, were $928,246, $925,351 and
$1,127,280, respectively, equal to the required contributions for each year.
8. Related Party Transactions
The Board provided funding for the Clerk in the amount of $5,273,200. The Supervisor of
Elections provided funding in the amount of a $37,000 fee for financial services performed by
the Clerk. At September 30, 2011, the Clerk had a payable due to the Board of $479,588
comprised as follows:
Distribution of excess fees $ 94,614
Amounts due for various services 35,722
Agency funds due 349,252
Total due to Board of County Commissioners $ 479,588
1112 - 1316003 19
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
8. Related Party Transactions (continued)
At September 30, 2011, the Board had a payable due to the Clerk of $9,858 comprised
as follows:
Amounts due from various services $ 9,858
Total due from Board of County Commissioners $ 9,858
9. Risk Management
Collier County, Florida (the 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, 2011, the Clerk was charged $2,449,957 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
outside excess coverage for up to the statutory limits for each injury and illness. The County also
provides coverage for $200,000 per occurrence for general liability and auto liability coverage
and has purchased outside excess coverage for up to $1 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 $100,000/$200,000 per occurrence can only be recovered through an act
of the State Legislature. Property claims are subject to a 5% 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 of its employees and their eligible
dependents. The County retains the first $275,000 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.
1112- 1316003 20
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
10. Other Postemployment Healthcare Benefits (OPEB) Plan
The County follows GASB Statement 45, Accounting and Financial Reporting by Employers for
Postemployment Benefits other than Pensions in accounting for its post employment benefits.
Plan Description
The Clerk of the Circuit Court participates in a group health care plan that covers eligible
retirees, and their dependents, of the Board and all Constitutional Officers with the exception of
the Sheriff. The Board administers the plan and establishes the benefits. The healthcare plan does
not issue a stand -alone financial report, however additional actuarial information regarding the
plan as a whole is disclosed in the notes to the financial statements of Collier County, Florida.
Under Florida Statutes, retirees originally hired prior to July 1, 2011, are eligible to participate in
the active medical plan by paying the active rate if they have attained age 62 and have 6 years of
service or have at least 30 years of service. Employees hired on or after July 1, 2011 are eligible
to participate in the active medical plan by paying the active rate if they have attained age 65 and
have 8 years of service or have at least 33 years of service. Employees eligible for a reduced
benefit under the Florida Retirement System prior to age 62 (65 if hired on or after July 1, 2011)
are also eligible to participate in the medical plan. The Clerk of the Circuit Court provides no
subsidy to the retiree, or their dependents, for group health care.
Funding Policy
The contribution requirements of the plan members and the employers are established and may
be amended by the County. The plans are financed by the participating agencies on a pay as you
go basis through the County's self - insurance internal service fund. Participating agencies
contribute an additional amount per each active employee to fund retiree health care. The Clerk's
agency had an actuarial accrued liability of $17,492 as of September 30, 2011.
The annual other postemployment benefit cost is calculated based on the annual required
contribution (ARC) of the employer, an amount actuarially determined in accordance with
GASB Statement 45. The ARC represents a level of funding that, if paid by on an ongoing basis,
is projected to cover normal cost each year and amortize any unfunded actuarial liabilities over a
period not to exceed thirty years. An actuarial valuation on the plan as a whole was performed in
November 2011. The notes to the financial statements of the County disclose additional
information regarding the other post- employment benefit plan as a whole.
1112- 1316003 21
Collier County, Florida
Clerk of the Circuit Court
Notes to Special - Purpose Financial Statements (continued)
11. Claims and Contingencies
Litigation
The Clerk of the Circuit Court 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, 2011, the Clerk was involved in approximately 88,067 collection cases. These are
court actions designed to collect fees and costs imposed by the courts in criminal cases. The
Clerk was involved in approximately 520 bond forfeiture actions. Those cases involve collecting
forfeitures of criminal appearance bonds. There are approximately 99 actions for foreclosure of
property in which the Clerk has been a named defendant.
The Clerk is involved in a class action involving the constitutionality of a Florida statute relating
to ownership of interest earned on monies paid into the registry of the court and an inverse
condemnation allegation asserting that the Clerk has improperly retained interest accruing on
funds in the court's registry. The Clerk filed a Motion to Dismiss, which was denied and which
the Clerk has petitioned the Second District Court of Appeals to review.
Collier County Litigation
For the past several years the Clerk has been involved in certain litigation with Collier County.
All litigation with the County was resolved through mutual agreement at the end of fiscal year
2009 with the lone exception of case #2D07 -4549: L.T. #04- 941 -CA reaffirming that the Clerk
of Courts is accountant, auditor and custodian of all county funds and is entitled to audit the
county for purposes of determining legality of payment. The Board of County Commissioners
elected to go forward with this case before the Florida Supreme Court.
On September 2, 2010 the case was presented before the Florida Supreme Court. On
November 10, 2010 the Florida Supreme Court dismissed the appeal of the Board of County
Commissioners of Collier County v. Dwight Brock, and in doing so reaffirmed the right of Clerk
of Courts, Dwight Brock to audit all public funds used in county operations. The Florida
Supreme Court upheld an earlier decision by The Florida Second District Court of Appeals
issued on September 23, 2009. The Clerk will be proceeding to prosecute this lawsuit, for which
a Final Judgment to Conform with Appellate Decision has recently been entered.
1112 - 1316003 22
Combining Information
1112- 1316003
Collier County, Florida
Clerk of the Circuit Court
Combining Balance Sheet — Agency Funds
Assets
Cash and cash equivalents
Total assets
Liabilities
Due to the Collier County, Florida
Board of County Commissioners
Due to other governments
Deposits
Total liabilities
September 30, 2011
Jury and
Clerk's Court Ordinary
Agency Registry Witness Total
$ 6,149,855 $ 12,740,261 $ 15,843 $ 18,905,959
$ 6,149,855 $ 12,740,261 $ 15,843 $ 18,905,959
349,252 $ - $ - $ 349,252
1,901,720 - 15,843 1,917,563
3,898,883 12,740,261 - 16,639,144
$ 6,149,855 $ 12,740,261 $ 15,843 $ 18,905,959
1112- 1316003 23
Collier County, Florida
Clerk of the Circuit Court
Statement of Changes in Assets and Liabilities — Agency Funds
Year Ended September 30, 2011
Balance Balance
October 1, September 30,
2010 Additions Deletions 2011
Assets
Cash and cash equivalents $ 21,474,385 $ 220,536,370 $ 223,104,796 $ 18,905,959
Total assets $ 21,474,385 $ 220,536,370 $ 223,104 796 $ 18,905,959
Liabilities
Due to the Collier County, Florida
Board of County Commissioners
$ 408,708
$ 349,252
$ 408,708
349,252
Due to other governments
1,062,928
10,085,630
9,230,995
1,917,563
Deposits
20,002,749
210,101,488
213,465,093
16,639,144
Total liabilities
$ 21,474,385
$ 220,536,370
$ 223,104 796 $
18,905,959
1112 - 1316003 24
Other Reports
1112 - 1316003
ERNSMYOUNG Suitet&OOYoungLLP
-�
I
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1561 955 8000
Fax: +1561 955 8200
www.ey.com
Report of Independent Certified Public Accountants on Internal Control
Over Financial Reporting and on Compliance and Other Matters
Based on an Audit of Special - Purpose Financial Statements
Performed in Accordance with Government Auditing Standards
Honorable Dwight E. Brock, Clerk of the Circuit Court
Collier County, Florida
We have audited the special - purpose financial statements of each major fund and the aggregate
remaining fund information of the Collier County, Florida Clerk of the Circuit Court (the Clerk
of the Circuit Court) as of and for the years ended September 30, 2011, and have issued our
report thereon dated December 19, 2011, which describes that such special - purpose financial
statements have been prepared for the purpose of complying with Section 218.39, Florida
Statutes, and Chapter 10.577(3), Rules of the Auditor General for Local Governmental Entity
Audits. We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Clerk of the Circuit Court's internal
control over financial reporting as a basis for designing our auditing procedures for the purpose
of expressing our opinion on the special - purpose financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the Clerk of the Circuit Court's internal control
over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the
Clerk of the Circuit Court's internal control over financial reporting.
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 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.
Our consideration of internal control over financial reporting 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 deficiencies, significant deficiencies or material weaknesses. We
did not identify any deficiencies in internal control over financial reporting that we consider to
be material weaknesses, as defined above.
1112 - 1316003
A member firm of Ernst $ Young Global Limited
25
IIIIIUUii " " " "' JEaysTSYOUNG
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Clerk of the Circuit Court's special -
purpose financial statements are free of 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 determination of
special - purpose financial statement amounts. 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.
This report is intended solely for the information and use of the Clerk of the Circuit Court,
management, others within the entity, the Board of County Commissioners of Collier County,
Florida and the Auditor General of the State of Florida, and is not intended to be and should not
be used by anyone other than these specified parties.
-f "I LLP
December 19, 2011
1112- 1316003 26
A member firm of Ernst & Young Global Limited
Suet & Young LLP f" = ERNST &YOUNG on
I I 5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1561 955 8000
Fax: +1561 955 8200
www.ey.com
Management Letter
Honorable Dwight E. Brock, Clerk of the Circuit Court
Collier County, Florida
We have audited the special - purpose financial statements of the general fund and the aggregate
remaining fund information of the Collier County, Florida Clerk of the Circuit Court (the Clerk of
the Circuit Court) as of and for the year ended September 30, 2011, and have issued our report
thereon dated December 19, 2011.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Additionally, our audit was
conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General,
which govern the conduct of local governmental audits performed in the state of Florida and
require that certain items be addressed in this letter.
We have also issued our report dated December 19, 2011, on internal control over financial
reporting and on compliance and other matters based on an audit of special - purpose financial
statements performed in accordance with Government Auditing Standards. Disclosures in that
report should be considered in conjunction with this management letter.
We have the following suggestions for improvement in accounting procedures and controls.
Current Year Findings and Recommendations
There were no findings or recommendations as a result of our current year audit.
Prior Year Findings and Recommendations
There were no findings or recommendations made in the prior year financial audit.
Other Required Communications
No matters of noncompliance with Section 218.415, Florida Statutes, regarding the investment
of public funds were identified within the scope of our audit.
The results of our audit disclosed no violations of laws, rules, regulations or contractual
provisions or abuse, no improper or illegal expenditures, and no control deficiencies.
1112 - 1316003
A member firm of Ernst & Young Global Limited
27
IF ERNST
i &YOUNG
The Clerk of the Circuit Court was established by the Constitution of the State of Florida,
Article VIII, Section 1(d).
Section 10.554(1)(i)8., Rules of the Auditor General, requires a statement as to whether or not
the Clerk complied with Section 28.35 and 28.36, Florida Statutes, regarding the budget and
performance standards certified by the Florida Clerk of Courts Operations Corporation. The
results of our audit did not identify any instances of noncompliance that are required to
be reported.
This management letter is intended solely for the information and use of the Clerk of the Circuit
Court, management, the Board of County Commissioners of Collier County, Florida, and the
Auditor General of the State of Florida, and is not intended to be and should not be used by
anyone other than these specified parties.
16� f "7 kk 1'
December 19, 2011
1112- 1316003 28
Ernst & WWig LIP
Assurance I Tax I Transactions I Advisory
About Ernst & Young
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SPECIAL- PURPOSE FINANCIAL STATEMENTS
Collier County, Florida
Property Appraiser
Year Ended September 30, 2011
With Report of Independent Certified Public Accountants
Ernst & Young LLP
°1 ERNST & YOUNG
Collier County, Florida
Property Appraiser
Special - Purpose Financial Statements
Year Ended September 30, 2011
Contents
Report of Independent Certified Public Accountants ........................................ ..............................1
Special - Purpose Financial Statements
Special - Purpose Balance Sheet - General Fund ................................................ ..............................3
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund Balance --
GeneralFund ................................................................................................... ..............................4
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual - (Budgetary Basis) - General Fund ................................ ..............................5
Notes to Special - Purpose Financial Statements ................................................. ..............................6
Report of Independent Certified Public Accountants on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an Audit of
Special - Purpose Financial Statements Performed in Accordance with Government
AuditingStandards ........................................................................................ .............................16
ManagementLetter ........................................................................................... .............................19
1112- 1315720
= Ernst &Young LLP
Suite 500
� ERNST & YOUNG
5100 Town (enter Circle
Boca Raton, rlorida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
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Report of Independent Certified Public Accountants
Honorable Abe Skinner, Property Appraiser
Collier County, Florida
We have audited the accompanying special - purpose 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, 2011. These special - purpose financial statements are the responsibility of the
Property Appraiser's management. Our responsibility is to express an opinion on these
special - purpose financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the special - purpose
financial statements are free of material misstatement. We were not engaged to perform an audit of
the Property Appraiser's internal control over financial reporting. Our audit included consideration
of internal control over financial reporting as a basis for designing 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 over financial reporting. Accordingly,
we express no such opinion. An audit also includes examining, on a test basis, evidence supporting
the amounts and disclosures in the special - purpose financial statements, assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall
special - purpose financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
As discussed in Note 1, the accompanying special - purpose financial statements referred to above
were prepared for the purpose of complying with Section 218.39, Florida Statutes,
Chapter 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These
special - purpose financial statements are not intended to be a complete presentation of the Property
Appraiser's financial position and its changes in financial position, where applicable, thereof, for
the year then ended in conformity with accounting principles generally accepted in the United
States. Additionally, the special - purpose statements present only the Property Appraiser and do
not purport to, and do not, present fairly the financial position of Collier County, Florida, as of
September 30, 2011, and the changes in its financial position, where applicable, for the year then
ended, in conformity with accounting principles generally accepted in the United States.
1112- 1315720
A member firm of Ernst 8 Young Global Limited
I I I I I I I I i i i�� " "' •" J Ex N5T s YouN c
In our opinion, the special - purpose 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, 2011, and the changes in financial position thereof and the budgetary comparison
for the general fund for the year then ended in conformity with accounting principles generally
accepted in the United States.
In accordance with Government Auditing Standards, we have also issued our report dated
December 19, 2011 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 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 internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards and should be considered in assessing the results of our audit.
This report is intended solely for the information and use of the Property Appraiser, management,
the Board of County Commissioners of Collier County, Florida, and the Auditor General of the
State of Florida, and is not intended to be and should not be used by anyone other than these
specified parties.
i�lntio f LLi'
December 19, 2011
1112- 1315720 2
A member firm of Ernst 8 Young Global Limited
Collier County, Florida
Property Appraiser
Special - Purpose Balance Sheet — General Fund
September 30, 2011
Assets
Cash and cash equivalents $ 1,088,618
Total assets $ 1,088,618
Liabilities and fund balance
Liabilities:
Accrued liabilities $ 106,188
Due to Collier County, Florida Board of County Commissioners 872,555
Due to other taxing districts 109,875
Total liabilities 1,088,618
Fund balance _
Total liabilities and fund balance $ 1,088,618
See accompanying notes.
1112- 1315720 3
Collier County, Florida
Property Appraiser
Special - Purpose Statement of Revenues, Expenditures,
and Changes in Fund Balance — General Fund
Year Ended September 30, 2011
Revenues:
Commissions and fees $ 6,564,314
Miscellaneous 830,936
Total revenues 7,395,250
Expenditures:
General government:
Personal services
4,873,749
Operating
1,405,900
Capital outlay
133,171
Distribution of excess fees to other taxing districts
109,875
Total expenditures
6,522,695
Excess of revenues over expenditures
872,555
Other financing uses:
Distribution of excess fees to Collier County, Florida
Board of County Commissioners
872,555
Total other financing uses
872,555
Excess of revenues over expenditures and other financing uses —
Fund balance, beginning of year _
Fund balance, end of year $ _
See accompanying notes.
11 12-1315720 4
Collier County, Florida
Property Appraiser
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — (Budgetary Basis) — General Fund
Year Ended September 30, 2011
Revenues:
Commissions and fees
Miscellaneous
Total revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Total expenditures
Excess of revenues over expenditures
Other financing uses:
Distribution of excess fees to Collier
County, Florida Board of County
Commissioners
Distribution of excess fees to other
taxing districts
Total other financing uses
Excess of revenues over expenditures
and other financing uses
Fund balance, beginning of year
Fund balance, end of year
See accompanying notes.
Variance With
Final Budget
Budget Positive
Original Final Actual (Negative)
S 6,564,314 S 6,564,314 S 6,564,314 S -
- — 830,936 830,936
6,564,314 6,564,314 7,395,250 830,936
5,175,379
4,975,425
4,873,749
101,676
1,338,935
1,455,718
1,405,900
49,818
50,000
133,171
133,171
—
6,564,314
6,564,314
6,412,820
151,494
—
—
982,430
982,430
872,555 (872,555)
109,875 (109,875)
982,430 (982,430)
1112- 1315720 5
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements
September 30, 2011
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida Property Appraiser (the Property Appraiser) is an elected
constitutional officer as provided for by the Constitution of the State of Florida. Pursuant to
Chapter 129, Florida Statutes, the Property Appraiser's budget is submitted to the Florida
Department of Revenue for approval, and a copy is forwarded to the Collier County, Florida Board
of County Commissioners (Board).
The special - purpose financial statements presented include the general fund of the Property
Appraiser's office. The accompanying special - purpose financial statements were prepared for the
purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the
Auditor General for Local Governmental Entity Audits.
Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires
the Collier County, Florida Property Appraiser financial statements to only present fund financial
statements. Accordingly, due to the omission of government -wide financial statements and related
disclosures, including a management's discussion and analysis, these special - purpose financial
statements do not constitute a complete presentation of the financial position of the Collier County,
Florida Property Appraiser as of September 30, 2011, and the changes in its financial position 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 U.S. generally accepted accounting principles.
The financial activities of the Property Appraiser, as a constitutional officer, are included in the
Collier County, Florida Comprehensive Annual Financial Report.
Measurement Focus, Basis of Accounting, and Basis of Presentation
These special - purpose 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.
1112 - 1315720 6
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
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 special - purpose
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 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 current liabilities of the 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
compensated absences, which are recognized as expenditures to the extent they have matured.
Substantially all of the Property Appraiser's revenue is received from taxing authorities. These
moneys 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.
Miscellaneous revenue is recognized as it is earned and becomes measurable and available to pay
liabilities of the current period.
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 Property
Appraiser.
1112- 1315720 7
Collier County, Florida
Property Appraiser
Notes to Special- Purpose Financial Statements (continued)
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 either an expenditure or other financing use - transfer out,
respectively, in the accompanying special - purpose financial statements.
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 Property Appraiser are allowed to accumulate an unlimited number
of hours of unused sick time 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 time and sick leave are
included in the operating costs of the general fund when the payments are made to 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, 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.
1112 - 1315720
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of the special - purpose 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.
New Fund Balance Reporting and Governmental Fund -Type Definitions
The Property Appraiser adopted GASB Statement No. 54, Fund Balance Reporting and
Governmental Fund -Type Definitions (GASB Statement No. 54), effective October 1, 2010. This
GASB statement clarifies governmental fund balance classification and fund -type definitions.
Fund balances are reported in classifications based on whether the amounts are spendable or
non - spendable. Spendable amounts are further classified as restricted, committed, assigned or
unassigned based on the extent to which there are external and /or internal constraints in how fund
balance amounts may be spent. The adoption of GASB Statement No. 54 did not have an impact
on the Property Appraiser's financial statements at September 30, 2011 since the Property
Appraiser does not maintain fund balances.
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.
1112 - 1315720 9
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
2. Budgetary Process (continued)
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 non ad
valorem commissions and other sources and expenditures paid for from these revenues are not
recognized under the budgetary basis of accounting; however, the revenues and expenditures have
been recognized under GAAP. Additionally, there is a difference between the budgetary basis of
accounting and GAAP in the treatment of excess fee distributions to entities outside of the
County's reporting entity. On a budgetary basis, distributions of excess fees are reported as other
financing uses. On a GAAP basis, these distributions are reported as expenditures because there is
a reduction in financial resources of the County.
The actual results of operations in the statement of revenues, expenditures, and changes in fund
balance — budget to actual -- general fund are presented on a budgetary basis. Adjustments to
convert the results of operations for the year ended September 30, 2011, from the budgetary basis
of accounting to the GAAP basis of accounting are as follows:
Miscellaneous
Revenues
Budgetary basis $ _
Revenues and expenditures not budgeted 830,936
GAAP basis $ 830,936
3. Cash and Cash Equivalents
At September 30, 2011, the carrying value of the Property Appraiser's cash and cash equivalents
was as follows:
Carrying
Type Value
Cash on hand $ 125
Deposit accounts 1,881,285
Total cash and cash equivalents $ 1,088,618
1112- 1315720 10
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
3. Cash and Cash Equivalents (continued)
Custodial Credit Risk
At September 30, 2011, 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.
Interest Rate Risk
The Property Appraiser has no specific investment policy regarding interest rate risk.
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.
4. Capital Assets
Capital assets used by the Property Appraiser are reported in the basic financial statements of
Collier County, Florida rather than in the general fund 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
1112 - 1315720 11
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
4. Capital Assets (continued)
available. Donated capital assets are valued at their estimated fair 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 special - purpose financial
statements. However, depreciation expense is recorded in the basic financial statements of Collier
County, Florida.
5. Long -Term Liabilities
The following is a summary of changes in general long -term liabilities which are reported in the
basic financial statements of Collier County, Florida:
October 1, September 30,
2010 Increase Decrease 2011
Accrued compensated absences $ 369,272 $ 302,716 $ 362,902 $ 309,086
Of these liabilities, approximately $350,000 is expected to be paid during the fiscal year ending
September 30, 2011. These long -term liabilities are not reported in the special - purpose financial
statements of the Property Appraiser since they have not matured.
6. Employee Retirement Plan
Substantially all full -time employees of the Property Appraiser filling regularly established
positions are eligible to participate in the State of Florida Retirement System (System), a
cost - sharing multiple- employer public retirement system administered by the State of Florida,
Division of Retirement. The System is a defined benefit plan for all state, and participating county,
district school board, community college, and university employees (Pension Plan). The System
also offers eligible employees participation in an alternative defined contribution plan (Investment
Plan). The Property Appraiser participates in the Elected State Officers' Class. The plan is
administered by the State of Florida. Contribution rates are established statewide for all
participating governmental units. Accordingly, the actuarial information and related disclosures
attributable to the Property Appraisers' employees are not determinable.
1112- 1315720 12
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
6. Employee Retirement Plan (continued)
Employees enrolled in the plan prior to July 1, 2011 who retire at or after age 62 with 6 years of
credited service, or with 30 years of service regardless of age, are entitled to a retirement benefit,
payable monthly for life, equal to 1.60% for regular employees, 2.00% for senior management and
3.00% for county elected officials for each year of credited service times the final average
compensation. Employees enrolled on or after July 1, 2011 who retire at or after age 65 with 8
years of credited service or 33 years of service regardless of age, are entitled to the retirement
benefits as outlined above. Final average compensation is the employee's average of the five
highest fiscal years of salary earned during credited service for those enrolled prior to July 1, 2011
and the eight highest fiscal years of salary for those hired on or after July 1, 2011. Vested
employees may retire before age 62 and receive benefits that are reduced 5.00% for each year prior
to normal retirement age (65 years of age if hired on or after July 1, 2011). Employees
participating in the Investment Plan are vested after one year of service with no age requirement.
The System also provides death and disability benefits. Benefits are established by Chapter 121,
Florida Statutes, and Chapter 22B, Florida Adn2inistrative Code.
The Deferred Retirement Option Program (DROP) is a program that provides an alternative
method for payment of retirement benefits for a specified and limited period for members of the
System, effective July 1, 1998. Under this program, the employee may participate as of their
normal retirement date and have their benefits accumulate in the Florida Retirement System Trust
Fund, earning interest, while continuing to work for a System employer. Employees enrolled in
DROP prior to July 1, 2011 earn interest on accumulated benefits in the Trust Fund at 6.50 %, those
enrolling on or after July 1, 2011 earn interest at 1.30 %. The participation in the program does not
change conditions of employment. When the DROP period ends, maximum of 60 months,
employment must be terminated. At the time of termination of employment, the employee will
receive payment of the accumulated DROP benefits, and begin receiving their monthly retirement
benefit (in the same amount determined at retirement, plus annual cost -of- living increases).
Investment Plan members are not eligible to participate in the DROP program, but Pension Plan
members are eligible to roll their DROP lump sum into the Investment Plan as one of the
distribution methods under the Pension Plan.
The System publishes an annual report that provides ten -year historical trend information
about progress made in accumulating sufficient assets to pay benefits when due. This report
may be obtained by writing to the Division of Retirement Research Education and Policy Section
1317 Winewood Boulevard, Building 8, Tallahassee, Florida 32399 -1560, or by calling
(877) 377 -1737, or accessing their Internet site at www.dms.MyFlorida.com.
1112 - 1315720 13
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
6. Employee Retirement Plan (continued)
The Property Appraiser is required to contribute an actuarially determined rate. Rates from
October 1, 2010 through June 30, 2011 were 18.64% for county elected officials, 14.57% for
senior management, 10.77% for regular employees and 12.25% for DROP employees based on
covered payroll. The current rates, effective July 1, 2011, are 11.14% for county elected officials,
6.27% for senior management, 4.91% for regular employees and 4.42% for DROP employees
based on covered payroll. In addition, as of July 1, 2011, employee contributions of 3.00% are
required of all Pension Plan and Investment Plan members, except for those in DROP. The
contribution requirements of the Property Appraiser and may be amended by the State of Florida.
The Property Appraiser's employer contributions to the plan for the years ended September 30,
2011, 2010 and 2009, were $348,722, $375,663 and $377,053, respectively, equal to the required
contributions for each year.
7. Other Postemployment Healthcare Benefits (OPEB) Plan
The County reports its obligations for OPEB pursuant to GASB Statement No. 45, Accounting and
Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.
Plan Description. The Property Appraiser participates in a group health care plan that covers
eligible retirees, and their dependents, of the Board and all Constitutional Officers with the
exception of the Sheriff. The Board administers the plan and establishes the benefits. The
healthcare plan does not issue a stand -alone financial report, however additional actuarial
information regarding the plan as a whole is disclosed in the notes to the financial statements of
Collier County.
Under Florida Statutes, retirees originally hired prior to July 1, 2011 are eligible to participate in
the active medical plan by paying the active rate if they have attained age 62 and have 6 years of
service or have at least 30 years of service. Employees hired on or after July 1, 2011 are eligible to
participate in the active medical plan by paying the active rate if they have attained age 65 and
have 8 years of service or have at least 33 years of service. Employees eligible for a reduced
benefit under the Florida Retirement System prior to age 62 (65 years of age if hired on or after
July 1, 2011) are also eligible to participate in the medical plan. The Property Appraiser provides
no subsidy to the retiree, or their dependents, for group health care.
1112- 1315720 14
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
7. Other Postemployment Healthcare Benefits (OPEB) Plan
Funding Policy. The contribution requirements of the plan members and the employers are
established and may be amended by the County. The plans are financed by the participating
agencies on a pay as you go basis through the County's self insurance internal service
fund. Participating agencies contribute an additional amount per each active employee to fund
retiree health care. The Appraiser's agency had an actuarial accrued liability of $10,463 as of
September 30, 2011.
The annual other postemployment benefit cost is calculated based on the annual required
contribution of the employer (ARC), an amount actuarially determined in accordance with GASB
Statement 45. The ARC represents a level of funding that, if paid by on an ongoing basis, is
projected to cover normal cost each year and amortize any unfunded actuarial liabilities over a
period not to exceed thirty years. An actuarial valuation on the plan as a whole was performed
in November 2011. The notes to the financial statements of the County disclose additional
information regarding the other post employment benefit plan as a whole.
8. Related -Party Transactions
For the year ended September 30, 2011, the Board paid fees to the Property Appraiser that
amounted to $5,830,163. At September 30, 2011, the Property Appraiser had a payable due to the
Board of County Commissioners of $872,555, representing the distribution of excess fees.
9. Risk Management
Collier County, Florida (the 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, 2011, the Property Appraiser was charged $869,160 by the County for participation
in the risk management program.
The County provides coverage for up to $500,000 per claim for workers' compensation, and has
purchased outside excess coverage for up to the statutory limit for each injury or illness. The
County also provides coverage for up to $100,000 per person/$200,000 per occurrence for auto
and other liability claims, and has purchased outside excess coverage for up to $1,000,000 per
1112 - 1315720 15
Collier County, Florida
Property Appraiser
Notes to Special - Purpose Financial Statements (continued)
9. Risk Management (continued)
claim. Negligence claims in excess of the statutory limits set in Section 768.20, Florida Statutes,
which provide for limited sovereign immunity of $100,000 per person/$200,000 per occurrence
can only be recovered through an act of the State Legislature. The County also provides coverage
for up to $100,000 per person/$200,000 per occurrence for public official's errors and omissions
claims and has purchased outside excess coverage for up to $5,000,000 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 also self - insured for health claims covering all of its employees and their eligible
dependents. The County retains the first $275,000 in losses per calendar year per covered member
and purchases excess coverage with no lifetime limit. As required by Section 112.081, Florida
Statutes, retirees and their eligible dependents are provided the same health care coverage as is
offered to active employees at the same premium cost (borne by the retiree) applicable to active
employees. An actuarial valuation is performed each year to estimate the amounts needed to pay
prior and future claims and to establish reserves.
10. Litigation
The Property Appraiser is involved as 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.
1112- 1315720 16
II IIIIIIIII�IIIIIIIIII�������� WERNST &YOUNG
Ernst & Young LLP
Suite 500
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Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax. +1 561 955 8200
www.ey.com
Report of Independent Certified Public Accountants on Internal Control
Over Financial Reporting and on Compliance and Other Matters
Based on an Audit of Special - Purpose Financial Statements
Performed in Accordance with Government Auditing Standards
Honorable Abe Skinner, Property Appraiser
Collier County, Florida
We have audited the special- purpose 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, 2011, and have issued our report thereon dated December 19, 2011, which
describes that such special - purpose financial statements have been prepared for the purpose of
complying with Section 218.39, Florida Statutes, and Chapter 10.577(3), Rules of the Auditor
General for Local Governmental Entity Audits. We conducted our audit in accordance with
auditing standards generally accepted in the United States and the standards applicable to financial
audits contained in Government Auditing Standards, issued by the Comptroller General of the
United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Property Appraiser's internal control over
financial reporting as a basis for designing our auditing procedures for the purpose of expressing
our opinion on the special - purpose financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Property Appraiser's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of the Property Appraiser's
internal control over financial reporting.
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
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.
Our consideration of internal control over financial reporting 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 deficiencies, significant deficiencies or material weaknesses. We did not
identify any deficiencies in internal control over financial reporting that we consider to be material
weaknesses, as defined above.
1112 - 1315720 17
A member firm of Ernst & Young Global Limited
=J ERNST & YOUNG
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Property Appraiser's special - purpose
financial statements are free of 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 determination of special - purpose financial
statement amounts. 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.
This report is intended solely for the information and use of the Property Appraiser, management,
the Board of County Commissioners of Collier County, Florida and the Auditor General of the
State of Florida, and is not intended to be and should not be used by anyone other than these
specified parties.
December 19, 2011
1112 - 1315720
19� -f �7 UP
A member firm of Ernst 8 Young Global limited
18
1111111111111 -H ERNST &YOUNG Ernst
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Management Letter
Honorable Abe Skinner, Property Appraiser
Collier County, Florida
We have audited the special - purpose 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, 2011, and have issued our report thereon dated December 19, 2011.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Additionally, our audit was
conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General,
which govern the conduct of local governmental audits performed in the State of Florida and
require that certain items be addressed in this letter.
We have also issued our report dated December 19, 2011 on internal control over financial
reporting and on compliance and other matters based on an audit of special - purpose financial
statements performed in accordance with Government Auditing Standards. Disclosures in that
report should be considered in conjunction with this management letter.
Current Year Findings and Recommendations
There were no findings or recommendations as a result of our current year audit.
Prior Year Findings and Recommendations
2010 -01 Calculation of Compensated Absences
Observation
The Property Appraiser is responsible for calculating the accrual for compensated absences
annually. This amount is currently only a financial statement disclosure within the Property
Appraiser's financial statement. However, this amount is provided to the Board of Collier County
to be recorded and disclosed within the government wide financials. We note that the accrual
provided by management was incorrect due to the omission of an accrual for compensated
absences earned for the last seven days of fiscal 2010, which were not reflected in the off -time
report used to calculate the accrued compensated absences balance, as the off time report was for
the pay period ending September 21, 2010. We note that the disclosure was adjusted to reflect the
additional accrual.
1112- 1315720 19
A member firm of Ernst & Young Global Limited
JEuNSrxYouNc
Status
For the year ended September 30, 2011, the Property Appraiser has included an additional accrual
for the last eight days of fiscal 2011, as suggested. This calculation has been included in the
spreadsheet for future years, in order to ensure that it is included annually.
Other Required Communications
No matters of noncompliance with Section 218.415, Florida Statutes, regarding the investment of
public funds were identified within the scope of our audit.
The results of our audit disclosed no violations of laws, rules, regulations or contractual provisions
or abuse, no improper or illegal expenditures, and no control deficiencies other than the internal
control recommendations included above.
The Property Appraiser was established by the Constitution of the State of Florida, Article VIII,
Section 1(d).
This management letter is intended solely for the information and use of the Property Appraiser,
management, the Board of County Commissioners of Collier County, Florida, and the Auditor
General of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.
. f UP
December 19, 2011
1112 - 1315720 20
A member firm of Ernst 8 Young Global Limited
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SPECIAL- PURPOSE FINANCIAL STATEMENTS
Collier County, Florida
Sheriff
Year Ended September 30, 2011
With Reports of Independent Certified Public Accountants
Ernst & Young LLP
°1 ERNST & YOUNG
Collier County, Florida
Sheriff
Special - Purpose Financial Statements
Year Ended September 30, 2011
Contents
Report of Independent Certified Public Accountants ........................................ ..............................1
Special - Purpose Financial Statements
Special - Purpose Balance Sheet — Governmental Funds .................................... ..............................3
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balances — Governmental Funds .................................................................... ..............................4
Special- Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — General Fund ................................................ ..............................5
Special - Purpose Statement of Net Assets — Internal Service Fund ................... ..............................6
Special - Purpose Statement of Revenues, Expenses, and Changes in Net Assets —
InternalService Fund ...................................................................................... ..............................7
Special - Purpose Statement of Cash Flows — Internal Service Fund .................. ..............................8
Special - Purpose Balance Sheet — Agency Funds ............................................... ..............................9
Notes to Special - Purpose Financial Statements ................................................ .............................10
Required Supplementary Information
Schedule of Funding Progress for the Retiree Health Plan ............................... .............................29
Combining Financial Information
Special - Purpose Combining Balance Sheet — Agency Funds ........................... .............................30
Special - Purpose Statement of Changes in Assets and Liabilities — Agency Funds .......................31
Other Reports
Report of Independent Certified Public Accountants on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an Audit of Special - Purpose
Financial Statements Performed in Accordance With Government Auditing Standards ...........32
Report on Agreed -Upon Procedures Applied to Investigative Funds .............. .............................34
ManagementLetter ........................................................................................... .............................36
1112 - 1314152
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Report of Independent Certified Public Accountants
Honorable Kevin Rambosk, Sheriff
Collier County, Florida
We have audited the accompanying special - purpose financial statements of each major fund and
the aggregate remaining fund information of the Collier County, Florida, Sheriff (the Sheriff) as
of and for the year ended September 30, 2011, as listed in the table of contents. These special -
purpose financial statements are the responsibility of the Sheriff's management. Our
responsibility is to express opinions on these special - purpose financial statements based on
our audit.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the special - purpose
financial statements are free of material misstatement. We were not engaged to perform an audit
of the Sheriff's internal control over financial reporting. Our audit included consideration of
internal control over financial reporting as a basis for designing 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 over financial reporting. Accordingly, we express
no such opinion. An audit also includes examining, on a test basis, evidence supporting the
amounts and disclosures in the special - purpose financial statements, assessing the accounting
principles used and significant estimates made by management, and evaluating the overall
special - purpose financial statement presentation. We believe that our audit provides a reasonable
basis for our opinions.
As discussed in Note 1, the accompanying special- purpose financial statements referred to above
were prepared for the purpose of complying with Section 218.39, Florida Statutes, and
Chapter 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These
special - purpose financial statements are not intended to be a complete presentation of the
Sheriff's financial position as of September 30, 2011, and the changes in its financial position,
where applicable, for the year then ended, in conformity with accounting principles generally
accepted in the United States. Additionally, the special - purpose financial statements present only
the Sheriff and do not purport to, and do not, present fairly the financial position of Collier
County, Florida, as of September 30, 2011, and the changes in its financial position, where
applicable, for the year then ended, in conformity with accounting principles generally accepted
in the United States.
1112- 1314152 1
A member firm of Ernst & Young Global Limited
11111 lllllllllllllllm������� " " " " ""
J ERNST &YOUNG
In our opinion, the special - purpose 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, 2011, 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 conformity with accounting principles generally
accepted in the United States.
In accordance with Government Auditing Standards, we have also issued our report dated
December 22, 2011, 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 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 internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
The schedule of funding progress for the retiree health plan on page 29 is not a required part of
the special - purpose financial statements but is supplementary information required by the
Governmental Accounting Standards Board (GASB). We have applied certain limited
procedures, which consisted principally of inquiries of management regarding the methods of
measurement and presentation of the required supplementary information. However, we did not
audit the information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the special - purpose financial
statements. The combining financial information is presented for the purpose of additional
analysis and is not a required part of the special - purpose financial statements. The combining
financial information has been subjected to the auditing procedures applied in the audit of the
special - purpose financial statements and, in our opinion, is fairly stated in all material respects in
relation to the special - purpose financial statements taken as a whole.
As discussed in Note 1, the Sheriff changed its method of accounting and reporting for
governmental fund balances as a result of the adoption of GASB Statement No. 54, Fund
Balance Reporting and Governmental Fund Type Definitions.
This report is intended solely for the information and use of the Sheriff, management, the Board
of County Commissioners of Collier County, Florida, and the Auditor General of the State of
Florida and is not intended to be and should not be used by anyone other than these
specified parties.
December 22, 2011
1112 - 1314152
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Collier County, Florida
Sheriff
Special - Purpose Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget and Actual —
General Fund
Year Ended September 30, 2011
Revenues:
Charges for services
Expenditures:
General government:
Personal services
Operating expenditures
Public safety:
Personal services
Operating expenditures
Capital outlay
Total expenditures
Excess of expenditures over revenues
Other financing sources (uses):
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
Excess of revenues and other
financing sources over expenditures
Fund balance — beginning of year
Fund balance — end of year
See accompanying notes.
Variance With
Budget
Budget Positive
Original Final Actual (Negative)
— $ 1,546,000 $ 1,887,682 $ 341,682
3,135,000 3,135,000 3,229,824 (94,824)
127,700 127,700 194,486 (66,786)
111,371,000 112,849,000 110,955,748 1,893,252
21,421,200 21,489,200 20,189,158 1,300,042
— — 2,293 771 (2,293 771)
136,054,900 137,600,900 136,862,987 737.913
(136,054,900) (136,054,900) (134,975,305) 1,079,595
136,054,900 136,054,900 136,054,900
— — (1,079 595) (1,079,595)
136,054,900 136,054,900 134,975 305 (1,079,595)
1112- 1314152 5
Collier County, Florida
Sheriff
Special - Purpose Statement of Net Assets — Internal Service Fund
September 30, 2011
Assets
Cash and cash equivalents $ 6,914,054
Investments 7,736,566
Due from other funds 780,436
Other receivable 151,534
Total assets 15,582,590
Liabilities and net assets
Liabilities:
Self - insurance claims payable 2,251,000
Net other post - employment benefit obligation 1,140,863
Total liabilities 3,391,863
Net assets:
Unrestricted $ 12,190,727
See accompanying notes.
1112- 1314152 6
Collier County, Florida
Sheriff
Special - Purpose Statement of Revenues, Expenses, and
Changes in Net Assets — Internal Service Fund
Year Ended September 30, 2011
Operating revenues:
Charges for services $ 19,579,579
Operating expenses:
Claims and claims expenses 16,804,112
Reinsurance premiums 659,286
Net other post - employment benefit expense 11,510
Administrative and other expenses 341,007
Total operating expenses 17,815,915
Operating income 1,763,664
Nonoperating revenues (expenses):
Interest income 43,054
Decrease in fair value of investments (10,405)
Change in net assets 1,796,313
Net assets — beginning of year 10,394,414
Net assets — end of year $ 12,190,727
See accompanying notes.
1112 - 1314152 7
Collier County, Florida
Sheriff
Special - Purpose Statement of Cash Flows — Internal Service Fund
Year Ended September 30, 2011
Operating activities
Cash payments for claims and claims- related services
$ (16,858,646)
Cash payments for reinsurance premiums
(659,286)
Cash payments for administrative services and supplies
(341,007)
Cash received from other funds for services
19,164,973
Cash received from retirees for services
499,143
Net cash provided by operating activities
1,805,177
Investing activities
Investment earnings
32,649
Increase in investments
(3,066,801)
Net cash used in investing activities
(3,034,152)
Net change in cash and cash equivalents
(1,228,975)
Cash and cash equivalents — beginning of year
8,143,029
Cash and cash equivalents — end of year
$ 6.914,054
Reconciliation of operating income to net cash
provided by operating activities
Operating income
$ 1,763,664
Adjustments to reconcile operating income to
net cash provided by operating activities:
Increase in receivables
(151,534)
Decrease in due from other funds
84,537
Increase in net other post - employment benefit obligation
11,510
Increase in self - insurance claims payable
97,000
Net cash used in operating activities
$ 1.805.177
See accompanying notes.
11.12- 1314152 8
Collier County, Florida
Sheriff
Special - Purpose Balance Sheet — Agency Funds
September 30, 2011
Assets
Cash and cash equivalents $ 464,087
Due from individuals and businesses 8,864
Total assets $ 472,951
Liabilities
Due to other governments $ 13,917
Due to Collier County, Florida,
Board of County Commissioners 31,263
Due to individuals and businesses 427,771
Total liabilities $ 472,951
See accompanying notes.
1112 - 1314152 9
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements
September 30, 2011
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida, Sheriff (the 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
(the Board) for approval.
The Sheriff is the chief law enforcement officer of Collier County, Florida (the County), and is
responsible for operating the County's corrections facilities. The special - purpose financial
statements include the general fund, special revenue funds, proprietary fund (internal service fund),
and agency funds of the Sheriff's office. The accompanying special - purpose financial statements
were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section
10.557(3), Rules of the Auditor General for Local Governmental Entity Audits.
Section 10.556(4), Rules of the Auditor General for 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 a management's
discussion and analysis, these special - purpose financial statements do not constitute a complete
presentation of the financial position of the Sheriff as of September 30, 2011, 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 U.S. generally
accepted accounting principles.
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, Comprehensive
Annual Financial Report.
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.
1112- 1314152 10
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Measurement Focus, Basis of Accounting, and Basis of Presentation
The special - purpose 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 special - purpose
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 current liabilities of the 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, moneys 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. Most grant revenue is recorded in this manner. In the other, moneys 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, 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.
1112- 1314152 11
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (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 special - purpose financial statements.
Capital outlays expended in governmental fund operations are recorded as capital assets 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 that 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.
Prisoner Welfare Fund— This fund is used to account for the proceeds of inmate- related
services and is legally restricted to specified purposes that benefit the inmate population.
The Sheriff also has one non -major fund:
Federal Equitable Sharing Fund— The revenue from this fund is the result of joint
investigations with federal agencies that result in the equitable sharing of the net proceeds of
the forfeiture.
Fund balances reported in these funds are restricted for the specified purpose of the
respective fund.
1112- 1314152 12
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Fiduciary Funds
Fiduciary Funds — Agency Funds — These funds are used to account for assets held by the Sheriff
as an agent for individuals, private organizations, and other governments. Agency funds are
custodial in nature (assets equal liabilities), and do not involve measurement of results of
operations or have a measurement focus. Agency funds are 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.
Cash Equivalents and Investments
Cash equivalents are defined as highly liquid investments with maturities of three months or less.
Cash equivalents also include amounts deposited in Florida PRIME (formerly the Local
Government Surplus Trust Fund) administered by the State Board of Administration, a 2a -7 like
investment pool. Shares of the investment pool are based on the pool's share price, which
approximates fair value. All investments are stated at fair value.
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. 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 1,000 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.
1112- 1314152 13
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of the special - purpose 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 special - purpose
financial statements and the reported amounts of revenues and expenditures during that period.
Significant items subject to such estimates and assumptions include the self - insurance claims
payable. Actual results could differ from those estimates.
New Fund Balance Reporting and Governmental Fund -Type Definitions
The Sheriff adopted GASB Statement No. 54, Fund Balance Reporting and Governmental Fund
Type Definitions, effective October 1, 2010. This GASB Statement clarifies governmental fund
balance classifications and fund -type definitions. Fund balances are classified either as non -
spendable or as a 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 amount that cannot be spent because they are not in
spendable form or are legally or contractually required to be maintained intact. The Sheriff did
not have any non - spendable fund balances as of September 30, 2011.
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, prisoner welfare fund and federal equitable sharing fund fall into this category.
The adoption of GASB Statement No. 54 did not have an effect on the Sheriff's general fund
financial statements at September 30, 2011, since the Sheriff does not maintain fund balances in
the general fund. Fund balances are maintained in the grant special revenue fund, prisoner
welfare fund, and the federal equitable sharing fund: are constrained for specific purposes that
are externally imposed by grantors, laws, or regulations or imposed by law through constitutional
provisions or enabling legislation, and are reported as restricted fund balances in accordance with
GASB Statement No. 54.
1112- 1314152 14
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
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 U.S. generally accepted accounting
principles. Any subsequent amendments to the budget must be approved by the Board. 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. 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 and federal
equitable sharing funds do not have legally adopted budgets.
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.
1112- 1314152 15
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
3. Cash, Cash Equivalents, and Investments
At September 30, 2011, the carrying value of the Sheriff's cash, cash equivalents, and
investments was as follows:
Average
Maturity/ Carrying Credit
Type Maturity Value Rating
Cash and cash equivalents
Cash on hand
N/A
$ 16,249
N/A
Demand deposits
N/A
20,632,584
N/A
Local government surplus funds trust fund:
3/13/2015
597,883
Aaa
Pool A
38.3 days
718,262
AAAm
Pool B
4.82 years
16,165
Unrated
Federated Government Obligation Fund
N/A
304,777
N/A
Treasury Bill
10/20/2011
499,996
AAA
Treasury Bill
12/15/2011
499,985
AAA
Total cash and cash equivalents
8/10/2015
$ 22,688,018
Aaa
Investments
Treasury Note
2/29/2012
501,620
AAA
Federal Home Loan Bank
9/16/2013
698,573
Aaa
Federal Home Loan Bank
3/13/2015
597,883
Aaa
Federal Home Loan Bank
9/16/2016
697,485
Aaa
Federal Farm Credit Bank
9/1/2015
698,574
Aaa
Federal National Mortgage Assoc Note
9/9/2014
597,754
Aaa
Federal National Mortgage Assoc Note
9/9/2014
698,601
Aaa
Federal National Mortgage Assoc Note
9/14/2015
598,081
Aaa
Federal Home Loan Bank
8/10/2015
500,626
Aaa
Federal Home Loan Mortgage Corp Note
3/15/2015
350,929
Aaa
Federal National Mortgage Assoc Note
7/27/2016
502,529
Aaa
Federal Home Loan Bank
12/14/2015
597,118
Aaa
Federal Home Loan Bank
3/21/2016
696,793
Aaa
Total investments
$
7,736,566
Total cash, cash equivalents, and investments $ 30,424,584
1112 - 1314152 16
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
3. Cash, Cash Equivalents, and Investments (continued)
The total cash, cash equivalent, and investments balances at September 30, 2011, were
as follows:
General fund
$ 8,699,086
Grant special revenue fund
4,773,081
Prisoner welfare fund
1,058,289
Federal equitable sharing fund
779,421
Internal service fund
14,650,620
Agency funds
464,087
$ 30,424,584
Custodial Credit Risk
At September 30, 2011, the Sheriff 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.
Interest Rate Risk
The Sheriff has no specific investment policy regarding interest rate risk.
Credit Risk
The Sheriff'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 Sheriff to invest in the local government surplus funds trust fund;
obligations of the United States Treasury; federal agencies and instrumentalities, or any
intergovernmental pool authorized pursuant to the Florida Interlocal Corporation Act; money
market funds registered with the Securities and Exchange Commission with the highest credit
quality rating from a nationally recognized rating agency; direct interest - bearing time deposits or
savings accounts in banks organized under the laws of the United States and doing business and
1112 - 1314152 17
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
3. Cash, Cash Equivalents, and Investments (continued)
situated in the state of Florida, savings and loan associations, that are under state supervision, or
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.
Florida PRIME (formerly the Local Government Surplus Funds Trust Fund Investment Pool)
(the Pool) is administered by the State Board of Administration and consists of two separate
pools. Pool A (LGIP) primarily consists of money market appropriate assets, and Pool B (Fund B
Surplus Trust Fund) consists of assets that pay more slowly than expected and/or have significant
credit and liquidity risk. In addition, full realization of the principle value of Pool B assets is not
readily determinable. At September 30, 2011, the Sheriff had $734,427 invested in the Pool. Of
this amount, $718,262 is invested in the LGIP, which is rated "AAAm" by Standard & Poor's
Ratings Services, and $16,165 in the Fund B Surplus Funds Trust Fund, which is not rated by a
nationally recognized statistical rating agency. The LGIP investment is fully liquid and carries a
weighted- average days to maturity of 38.3 days.
Fund B is accounted for as a fluctuating NAV (net asset value) pool, and the fair value factor for
September 30, 2011, was 0.7568386. The Fund B amount has a weighted- average life of 4.82
years. Fund B cash holdings continue to be distributed to participants as they become available
from maturities, sales, and received income.
1112.1314152 18
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
3. Cash, Cash Equivalents, and Investments (continued)
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. The Florida Sheriff's Multiple Employer Trust administers
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 the self - insurance trust
includes investments in U.S. government instrumentalities, money market funds, and demand
deposits, detailed as follows, at September 30, 2011:
Percent of
Portfolio
U.S. Treasury Bills
7%
Federal Home Loan Mortgage Corporation
2
Federal Home Loan Bank
26
Federal National Mortgage Association
17
Federal Farm Credit Bank
5
U.S. Treasury Notes
3
Money market funds — Federated Government Obligation
2
Demand Deposits
38
Total
100%
4. Capital Assets
Capital assets used by the Sheriff are capitalized in the basic financial statements of the County,
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 valued at their
estimated fair value on the date received. The Sheriff maintains custodial responsibility for the
capital assets used by his office. No depreciation has been provided on capital assets in these
special - purpose financial statements. However, depreciation expense on these assets is recorded
in the basic financial statements of the County.
1112 - 1314152 19
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
4. Capital Assets (continued)
A summary of changes in capital assets, which are reported in the basic financial statements of
the County follows:
Balance
October 1,
2010 Additions
Balance
September 30,
Retirements 2011
Machinery and equipment
$ 63,962,409
$ 5,045,920
$ (4,074,521)
$ 64,933,808
Less accumulated depreciation
(49,918,327)
(6,463,450)
3,946,736
(52,435,041)
Machinery and equipment, net
$ 14,044,082
$ (1,417,530)
$ (127,785)
$ 12,498,767
5. Long -Term Liabilities
The following is a summary of changes in long -term liabilities, which are reported in the basic
financial statements of the County:
October 1, September 30,
2010 Increases Retirements 2011
Accrued compensated absences $ 11,730,470 $ 3,266,702 $ (1,457,006) $ 13,540,166
Of these liabilities, approximately $360,000 is expected to be paid during the fiscal year ending
September 30, 2012. These long -term liabilities are not reported in the special - purpose financial
statements of the Sheriff since they have not matured.
6. Interfund Balances and Transfers
Due from and due to other funds at September 30, 2011, were as follows:
General fund
Prisoner welfare fund
Internal service fund
Federal equitable sharing
Due From Due To
$ 22,161 $ 780,436
— 21,393
780,436 -
- 768
$ 802,597 $ 802,597
Interfund receivables and payables generally represent recurring activities between funds.
1112- 1314152 20
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
7. Related -Party Transactions
The Board provided funding for the Sheriff for the year of $136,054,900. At September 30,
2011, the Sheriff had a payable due to the Board of $1,132,040 comprising of the following:
General fund:
Distribution of excess appropriations $ 1,079,595
Distribution of interest collected 14,261
Miscellaneous payables 6,921
Agency funds 31,263
Total $ 1,132,040
Additionally, the Sheriff had a receivable from the Board related to services provided to the
County of $451,743 at September 30, 2011.
Agency Funds
The Sheriff's Office administers funds for the Collier County Sheriff's Office Explorers
Program. The program is funded by donations from employees through payroll deduction and
donations from outside organizations. The program is designed for students to explore the
opportunity to learn about and interact with law enforcement and to help stimulate further
interest in the possibility of a law enforcement career.
The Sheriff's Office collects donations, through payroll deduction, for the Collier County
Sheriff's Office Benefit Fund Committee, Inc. (the Benefit Fund Committee), a separate,
nonprofit 501(c)(3) organization. The Benefit Fund Committee provides emergency funds for
major catastrophic events such as death, serious illness, or travel due to a family crisis. Funds are
available as an interest free loan to eligible employees upon a written request and approval of the
Benefit Fund Committee.
8. Employee Retirement Plan
Substantially all full -time and part -time employees of the Sheriff are eligible to participate in the
State of Florida Retirement System (the System), a cost - sharing multiple - employer defined
benefit plan administered by the State of Florida, Division of Retirement. The System is a
1112- 1314152 21
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
8. Employee Retirement Plan (continued)
defined benefit plan for all state, and participating county, district school board, community
college, and university employees (the Pension Plan). The System also offers eligible employees
participation in an alternative defined contribution plan (the Investment Plan). The Sheriff and
deputies participate in the special risk class. The plan is administered by the State of Florida.
Contribution rates are established statewide for all participating governmental units.
Accordingly, the actuarial information and related disclosures attributable to the Sheriff's
employees are not determinable.
Employees hired prior to July 1, 2011, participating in the Pension Plan who retire at or after age
62 with 6 years of credited service for regular risk or with 30 years of service regardless of age,
are entitled to a retirement benefit, payable monthly for life, equal to 1.6% for regular
employees, 2% for senior management, and 3% for county elected officials of their final average
compensation for each year of credited service; for special risk, after age 55 with 6 years or with
25 years of service regardless of age, retirement benefits are payable monthly for life, up to 3%
for each year of credited service times their final average compensation. Final average
compensation is the employee's average of the 5 highest years of salary earned during credited
service. Vested employees may retire before age 62 for regular risk and 55 for special risk and
receive retirement benefits that are reduced 5% for each year prior to normal retirement age.
Employees hired on July 1, 2011, or later participating in the Pension Plan who retire at or after
age 65 with 8 years of credited service for regular risk or with 33 years of service regardless of
age are entitled to a retirement benefit, payable monthly for life, equal to 1.6% for regular
employees, 2% for senior management, and 3% for county elected officials of their final average
compensation for each year of credited service; for special risk, after age 60 with 8 years or with
30 years of service and age 57 or after 30 years of special risk service regardless of age or after
33 years of any creditable service, retirement benefits are payable monthly for life. Vested
employees may retire before age 65 for regular risk and 60 for special risk and receive retirement
benefits that are reduced 5% for each year prior to normal retirement age.
Employees participating in the Investment Plan are vested after one year of service with no age
requirement. The System also provides death and disability benefits. Benefits are established by
Chapter 121, Florida Statutes, and Chapter 22B, Florida Administrative Code.
1112 - 1314152 22
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
8. Employee Retirement Plan (continued)
The Deferred Retirement Option Program (DROP) is a program that provides an alternative
method for payment of retirement benefits for a specified and limited period for members of the
System, effective July 1, 1998. Under this program, the employee may retire and have benefits
accumulate in the Florida retirement system trust fund, earning interest, while continuing to work
for a System employer. The participation in the program does not change conditions of
employment. When the DROP period ends, maximum of 60 months, employment must be
terminated. At the time of termination of employment, the employee will receive payment of the
accumulated DROP benefits and begin receiving monthly retirement benefit (in the same amount
determined at retirement, plus annual cost -of- living increases).
The System publishes an annual report that provides ten -year historical trend information
about progress made in accumulating sufficient assets to pay benefits when due. That
report may be obtained by writing to the Division of Retirement, Department of Management
Services, 1317 Winewood Boulevard, Building 8, Tallahassee, Florida 32399: by calling
(850) 488 -5706; or by accessing the division's internet site at www.frs.state.fl.us.
The Sheriff is required to contribute an actuarially determined rate. Rates from October 1, 2010
through June 30, 2011, were 23.25% for special risk employees, 10.77% for regular employees,
14.57% for senior management, and 12.25% for DROP employees based on covered payroll. The
current rates, effective July 1, 2011, are 14.10% for special risk employees, 4.91% for regular
employees, 6.27% for senior management, and 4.42% for DROP employees based on covered
payroll. The contribution requirements of the Sheriff are established and may be amended by the
State of Florida. The Sheriff's contributions to the plan for the years ended September 30, 2011,
2010, . and 2009, were $13,153,722, $14,482,279, and $14,955,868, respectively, equal to the
required contributions for each year.
Effective July 1, 2011, participating employees are required to contribute 3% of eligible wages to
the System. Employees enrolled in DROP are not required to make this contribution.
9. Other Post - Employment Benefits
The Sheriff follows the provisions of GASB Statement No. 45, Accounting and Financial
Reporting by Employers for Postemployment Benefits Other Than Pensions, for its other post -
employment benefits.
1112- 1314152 23
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
9. Other Post - Employment Benefits (continued)
Plan Description
The Sheriff administers a single - employer defined benefit plan (OPEB Plan) and can amend the
benefit provisions. The Sheriff offers an OPEB Plan that subsidizes the cost of health care for its
retirees who have six years of creditable service with the Sheriff and who receive a monthly
retirement benefit from the System. The Sheriff subsidizes approximately 20% for single
coverage and 21% for family coverage for qualifying individuals. Additionally, in accordance
with Florida Statute 112.0801, Sheriff's employees who retire and immediately begin receiving
benefits from the System have the option of paying premiums to continue in the Sheriff's health
insurance plan at the same group rate as for active employees.
At September 30, 2010, the date of the latest actuarial valuation, Sheriff plan participation
consisted of.
OPEB plan participants
Retirees receiving benefits
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. For the year ended September 30, 2011, the Sheriff
contributed $1,084,368 to the OPEB Plan.
The other post - employment benefit cost for the plan is calculated based on the annual required
contribution (ARC) of the employer, an amount actuarially determined in accordance with
GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is
projected to cover normal costs each year and amortize any unfunded actuarial liabilities over a
period not to exceed 30 years. An actuarial valuation on the OPEB Plan as a whole was
performed as of October 1, 2010.
1112 - 1314152 24
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
9. Other Post - Employment Benefits (continued)
Annual OPEB Cost and Net OPEB Obligation
The annual cost (expense) of the Sheriff's OPEB Plan is calculated based on the ARC. The
following table shows the components of the Sheriff's annual OPEB Plan cost for the year ended
September 30, 2011, the amount actually contributed, and the changes in the net OPEB Plan
obligation.
Annual required contribution
$ 1,117,938
Interest on net OPEB Plan obligation
33,881
Adjustment to annual required contribution
(55,941)
Annual OPEB Plan cost (expense)
1,095,878
Contributions made
(1,084,368)
Increase in net OPEB Plan obligation (asset)
11,510
Net OPEB Plan obligation — beginning of year
1,129,353
Net OPEB Plan obligation (asset) — end of year
$ 1,140,863
No trust or agency fund has been established for the OPEB Plan.
The Sheriff's annual OPEB Plan cost, the percentage of annual OPEB Plan cost contributed to
the plan, and the net OPEB Plan obligation for the year ended September 30, 2011, and the
preceding years were as follows:
Fiscal year ended:
September 30, 2011
September 30, 2010
September 30, 2009
1112- 1314152 25
Percentage of
Annual OPEB
Annual OPEB
Plan Cost
Net OPEB
Plan Cost
Contributed
Plan Obligation
$ 1,095,878
99%
$ 1,140,863
$ 1,088,692
91%
$ 1,129,353
$ 1,352,721
65%
$ 1,026,451
1112- 1314152 25
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
9. Other Post - Employment Benefits (continued)
Funded Status and Funding Progress
As of the September 30, 2011, actuarial valuation date, the OPEB Plan was 0% funded, the
actuarial accrued liability for benefits was $12,018,242, and the actuarial value of assets was $0,
resulting in an unfunded actuarial accrued liability (UAAL) of $12,018,242. The covered payroll
(annual payroll of active employees covered by the OPEB Plan) was approximately
$114.2 million, and the ratio of the UAAL to the covered payroll was 10.5 %.
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 health care 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
Amortization method
Amortization period
Projected unit credit method
Closed
30 years, Level Dollar Amount
1112- 1314152 26
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
9. Other Post - Employment Benefits (continued)
The actuarial assumptions are:
Investment rate of return 3%
Discount rate 3%
Healthcare cost trend rate 10% for the 2011 fiscal year grading to an ultimate
rate of 5% for the 2021 fiscal year
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:
$3,100,000 for any claim involving a single individual, $3,200,000 for any one incident or
occurrence, and $10,000,000 for an annual aggregate per member. The Sheriff also participates
in the Fund program for workers' compensation coverage. The Florida Sheriffs' Association
Workers' Compensation Insurance Trust is a limited self - insurance fund providing coverage for
the first $350,000 of every claim. Reinsurance is provided through a third party for all claims
exceeding $350,000 up to $10,000,000. Settled claims have not exceeded the insurance provided
by third -parry carriers in any of the past three years.
Premiums charged to participating sheriffs are based upon amounts believed by the Fund's
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 that provides specific claim excess coverage for any one incident exceeding
$200,000 up to $1,000,000. 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.
1112- 1314152 27
Collier County, Florida
Sheriff
Notes to Special - Purpose Financial Statements (continued)
10. Self - Insurance Program (continued)
Changes in the balance of estimated insurance claims payable for the fiscal year ended
September 30, 2011, is as follows:
Fiscal year ending:
2010
2011
11. Claims and Contingencies
Litigation
New Claims
Balance as of and Changes Claim Balance as of
October 1 in Estimates Payments September 30
$ 2,121,000 $ 16,758,796 $(16,725,796) $ 2,154,000
$ 2,154,000 $ 16,901,112 $(16,804,112) $ 2,251,000
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 not have a significant effect on the
financial position of the Sheriff.
1112- 1314152 28
Required Supplementary Information
1112 - 1314152
Collier County, Florida
Sheriff
Schedule of Funding Progress
for the Retiree Health Plan
1112 - 1314152 29
Actuarial
Accrued
UAAL as a
Actuarial
Actuarial
Liability (AAL) -
Percentage of
Valuation
Value of
Projected
Unfunded
Funded
Covered
Covered
Date
Assets
Unit Credit
AAL
Ratio
Payroll
Payroll
10/1/2008
$ -
$
9,354,088
$ 9,354,088
0.0%
$128,182,544
7.3%
10/1/2009
$ -
$
14,171,709
$ 14,171,709
0.0%
$123,296,676
11.5%
10/1/2010
$ -
$
12,148,033
$ 12,148,033
0.0%
$117,879,632
10.3%
10/1/2011
$ -
$
12,018,242
$ 12,018,242
0.0%
$114,185,572
10.5%
1112 - 1314152 29
Combining Financial Information
1112- 1314152
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Other Reports
1112 - 1314152
J Ex nsT s YOUNG
Ernst & Young LLP
Suite 500
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Report of Independent Certified Public Accountants on Internal Control
Over Financial Reporting and on Compliance and Other Matters Based on
an Audit of Special - Purpose Financial Statements Performed in Accordance
With Government Auditing Standards
Honorable Kevin Rambosk, Sheriff
Collier County, Florida
We have audited the special- purpose financial statements of each major fund and the aggregate
remaining fund information of the Collier County, Florida, Sheriff (the Sheriff) as of and for the
year ended September 30, 2011, and have issued our report thereon dated December 22, 2011,
which describes that such special - purpose financial statements have been prepared for the
purpose of complying with Section 218.39, Florida Statutes, and Chapter 10.577(3), Rules of the
Auditor General for Local Governmental Entity Audits. We conducted our audit in accordance
with auditing standards generally accepted in the United States and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General
of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Sheriff's internal control over financial
reporting as a basis for designing our auditing procedures for the purpose of expressing our
opinions on the special - purpose financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Sheriff's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of the Sheriff's internal control
over financial reporting.
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 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.
Our consideration of internal control over financial reporting 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 deficiencies, significant deficiencies, or material weaknesses. We
did not identify any deficiencies in internal control over financial reporting that we consider to
be material weaknesses, as defined above.
1112- 1314152 32
A member firm of Ernst & Young Global Limited
JExNSrsYOUNG
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Sheriff's special - purpose financial
statements are free of 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 determination of special - purpose financial statement
amounts. 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.
We noted certain matters that we reported to management of the Sheriff in a separate letter dated
December 22, 2011.
This report is intended solely for the information and use of the Sheriff, management, others
within the entity, the Board of County Commissioners of Collier County, Florida, and the
Auditor General of the State of Florida and is not intended to be and should not be used by
anyone other than these specified parties.
December 22, 2011
1112 - 1314152
-f U 7 UP
A member firm of Ernst 8 Young Global Limited
33
I 1,11,1
1 I I I I (I ( =� ERNST & YOUNG Ernst &Young LLP
Suite 500
I 5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Report on Agreed -Upon Procedures Applied to Investigative Funds
Honorable Kevin Rambosk, Sheriff
Collier County, Florida
We have performed the procedures enumerated below, which were agreed to by management of
the Collier County, Florida, Sheriff (the Sheriff), solely to assist you in evaluating the procedures
and policies as defined by the Sheriff over its investigative funds for the year ended
September 30, 2011. The Sheriff's management is responsible for the Sheriff's compliance with
those procedures and policies. This agreed -upon procedures engagement was conducted in
accordance with attestation standards established by the American Institute of Certified Public
Accountants. The sufficiency of these procedures is solely the responsibility of the party
specified in this report. Consequently, we make no representation regarding the sufficiency of
the procedures described below either for the purpose for which this report has been requested or
for any other purpose.
The procedures we performed and our findings are summarized as follows:
We randomly selected 25 investigative fund disbursements during the fiscal year ended
September 30, 2011 (the population sampled from included transactions from October 1, 2010
through August 10, 2011) and performed the following procedures with respect to the Sheriff's
policies and procedures over investigative funds.
We obtained the "Disbursement for Investigation" form, noting that the form was properly
completed and authorized by appropriate personnel.
We obtained the "Purchase of Evidence/Information Voucher," noting that the form was
properly completed to reflect the expenses incurred within the investigation procedures, that the
investigative expenditures were properly supported, and that the use of funds was for authorized
purposes. No exceptions were noted.
1112- 1314152 34
A member firm of Ernst & Young Global Limited
JEkNST &YOUNG
We noted that the unused funds returned, if applicable, were properly deposited per review of the
corresponding deposit and bank statement detail and noted that the amount deposited agreed to
the amount returned per the "Receipt for Funds Received" form detail.
We were not engaged to and did not conduct an examination, the objective of which would be
the expression of an opinion on compliance. Accordingly, we do not express such an opinion.
Had we performed additional procedures, other matters might have come to our attention that
would have been reported to you.
This report is intended solely for the information and use of the management of the Sheriff and is
not intended to be and should not be used by anyone other than this specified party.
December 22, 2011
1112- 1314152 35
A member firm of Ernst 8 Young Global limited
I ���III�I�IIIIIIfI�litt, / ERN YOUNG Ernst & Young LLP
_
I 111, I 11 ST & Suite 500
III !!! 5100 Town Center Circle
I
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Management Letter
Honorable Kevin Rambosk, Sheriff
Collier County, Florida
We have audited the special - purpose financial statements of each major fund and the aggregate
remaining fund information of the Collier County, Florida, Sheriff (the Sheriff) as of and for the
year ended September 30, 2011, and have issued our report thereon dated December 22, 2011.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Additionally, our audit was
conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General,
which govern the conduct of local governmental audits performed in the state of Florida and
require that certain items be addressed in this letter.
We have also issued our report dated December 22, 2011, on internal control over financial
reporting and on compliance and other matters based on an audit of special - purpose financial
statements performed in accordance with Government Auditing Standards. Disclosures in that
report should be considered in conjunction with this management letter.
We have the following suggestions for improvement in accounting procedures and controls.
Current Year Findings and Recommendations
None reported.
Prior Year Findings and Recommendations
None reported.
1112 - 1314152
A member firm of Ernst & Young Global Limited
36
JERNST &YOUNG
Other Required Communications
No matters of noncompliance with Section 218.415, Florida Statutes, regarding the investment
of public funds were identified within the scope of our audit.
The results of our audit disclosed no violations of laws, regulations, or contractual provisions or
abuse; no improper or illegal expenditures; and no control deficiencies that are not significant
deficiencies other than the internal control recommendations included above.
The Sheriff was established by the Constitution of the State of Florida, Article VIII, Section I(d).
This management letter is intended solely for the information and use of the Sheriff,
management, the Board of County Commissioners of Collier County, Florida, and the Auditor
General of the State of Florida and is not intended to be and should not be used by anyone other
than these specified parties.
16� f "7 U
December 22, 2011
11 12- 1314152 37
A member firm of Ernst 8 Young Global limited
Ernst Ist & Yom ig LLP
Assurance I Tax I Transactions I Advisory
About Ernst & Young
F.f I "t & Yo two is rI (flobal
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flh"; LLB ll' 11w,
SPECIAL - PURPOSE FINANCIAL STATEMENTS
AND OTHER REPORTS
Collier County, Florida
Supervisor of Elections
Year Ended September 3 0, 2011
With Report of Independent Certified Public Accountants
Er nst R Young LLP
°J ERNST & YOUNG
Collier County, Florida
Supervisor of Elections
Special - Purpose Financial Statements and Other Reports
Year Ended September 30, 2011
Contents
Report of Independent Certified Public Accountants ........................................ ..............................1
Special - Purpose Financial Statements
Special - Purpose Balance Sheet .......................................................................... ..............................3
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund Balance .................4
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — General Fund ................................................ ..............................5
Notes to Special - Purpose Financial Statements ................................................. ..............................6
Other Reports
Report of Independent Certified Public Accountants on Internal Control Over
Financial Reporting and on Compliance and Other Matters Based on an Audit of
the Special - Purpose Financial Statements Performed in Accordance With
Government Auditing Standards .................................................................... .............................17
ManagementLetter ........................................................................................... .............................19
1112- 1315575
lll�rl�ttr..
=1 ERNST &YOUNG Sute 500
5100 I I I t I 5100 Town Center Circle
(I
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Report of Independent Certified Public Accountants
The Honorable Jennifer J. Edwards, Supervisor of Elections
Collier County, Florida
We have audited the accompanying special - purpose financial statements of each major fund of
the Collier County, Florida Supervisor of Elections (the Supervisor of Elections), as of and for
the year ended September 30, 2011 as listed in the table of contents. These financial statements
are the responsibility of the Supervisor of Elections' management. Our responsibility is to
express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United
States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. We were not engaged to perform an audit of the
Supervisor of Elections' internal control over financial reporting. Our audit included
consideration of internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Supervisor of Elections' internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test
basis, evidence supporting the amounts and disclosures in the special - purpose financial
statements, assessing the accounting principles used and significant estimates made by
management and evaluating the overall special - purpose financial statement presentation. We
believe that our audit provides a reasonable basis for our opinions.
As discussed in Note 1, the accompanying special - purpose financial statements referred to above
were prepared for the purpose of complying with Section 218.39, Florida Statutes, and
Chapter 10.577(3), Rules of the Auditor General for Local Governmental Entity Audits. These
special - purpose financial statements are not intended to be a complete presentation of the
Supervisor of Elections' financial position and its changes in financial position, where
applicable, thereof, for the year then ended in conformity with accounting principles generally
accepted in the United States. Additionally, the special - purpose statements present only the
Supervisor of Elections and do not purport to, and do not, present fairly the financial position of
Collier County, Florida, as of September 30, 2011, and the changes in its financial position,
where applicable, for the year then ended, in conformity with accounting principles generally
accepted in the United States.
1112- 1315575 1
A member firm of Ernst & Young Global Limited
VIIIIllluuuii " " " ""
=WERNST & YOUNG
In our opinion, the special - purpose financial statements referred to above present fairly, in all
material respects, the financial position of each major fund of the Supervisor of Elections as of
September 30, 2011, and the changes in financial position thereof and the budgetary comparison
for the general fund for the year then ended in conformity with accounting principles generally
accepted in the United States.
In accordance with Government Auditing Standards, we have also issued our report dated
December 19, 2011, on our consideration of the Supervisor of Elections' 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 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 internal control over financial reporting or on
compliance. That report is an integral part of an audit performed in accordance with Government
Auditing Standards and should be considered in assessing the results of our audit.
This report is intended solely for the information and use of the Supervisor of Elections,
management, the Board of County Commissioners of Collier County, Florida, and the Auditor
General of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.
i&� f LO
December 19, 2011
1112 - 1315575 2
A member firm of Ernst 8 Young Global Limited
Collier County, Florida
Supervisor of Elections
Special - Purpose Balance Sheet
Assets
Cash and cash equivalents
Due from other funds
Total assets
Liabilities and fund balance
Liabilities:
Accounts payable
Accrued liabilities
Due to Collier County, Florida
Board of County Commissioners
Due to other funds
Deferred revenue
Total liabilities
Fund balances:
Spendable - restricted
Unassigned
Total fund balances
Total liabilities and fund balance
See accompanying notes.
September 30, 2011
Grant
General Special Total
Fund Revenue 2011
$ 213,963 $ 89,372 $ 303,335
- 44 44
$ 213,963 $ 89,416 $ 303,379
$ 12,318 $ - $ 12,318
51,642 - 51,642
149,959 - 149,959
44 - 44
74,442 74,442
213,963 74,442 288,405
14,974 14,974
- 14,974 14,974
$ 213,963 $ 89,416 $ 303,379
1112 - 1315575 3
Collier County, Florida
Supervisor of Elections
Special - Purpose Statement of Revenues, Expenditures and
Changes in Fund Balance
For the Year Ended September 30, 2011
Revenues:
Intergovernmental
Interest
Total revenues
Expenditures:
General government:
Personal services
Operating expenditures
Capital outlay
Total expenditures
Excess of expenditures over revenues
Other financing sources (uses):
Transfers in:
Collier County, Florida Board of
County Commissioners appropriations
Distribution of excess appropriations:
Collier County, Florida Board of
County Commissioners
Total other financing sources
Deficiency of revenues and other financing
sources under expenditures
Fund balance — October 1, 2010
Fund balance — September 30, 2011
See accompanying notes.
Grant
General Special Total
Fund Revenue 2011
S 66,641 $ 66,641
220 220
66,861 66,861
1,946,355 — 1,946,355
955,174 76,734 1,031,908
36,566 — 36,566
2,938,095 76,734 3,014,829
(2,938,095) (9,873) (2,947,968)
3,082,300 — 3,082,300
(144,205) — (144,205)
2,938,095 — 2,938,095
(9,873) (9,873)
24,847 24,847
S — $ 14,974 S 14,974
1112 - 1315575 4
Collier County, Florida
Supervisor of Elections
Special - Purpose Statement of Revenues, Expenditures and Changes
in Fund Balance — Budget and Actual — General Fund
For the Year Ended September 30, 2011
Revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Total expenditures
Excess of expenditures over revenues
Other financing sources (uses):
Operating transfers in:
Collier County, Florida Board of
County Commissioners appropriations
Operating transfers out:
Distribution of excess appropriations:
Collier County, Florida Board of
County Commissioners
Total other financing sources
Excess of revenues and other financing
sources over expenditures
Fund balance — October 1, 2010
Fund balance — September 30, 2011
See accompanying notes.
1112 - 1315575
Variance
With Final
Budget
Budget Positive
Original Final Actual (Negative)
$ 2,800 $ 2,800 S — $ (2,800)
1,959,800
1,959,800
1,946,355
13,445
1,112,900
1,087,750
955,174
132,576
12,400
37,550
36,566
984
3,085,100
3,085,100
2,938,095
147,005
(3,082,300)
(3,082,300)
(2,938,095)
144,205
3,082,300 3,082,300 3,082,300 -
- - (144,205) (144,205)
3,082,300 3,082,300 2,938,095 (144,205)
S — $ — S — $ —
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements
September 30, 2011
1. Summary of Significant Accounting Policies and Practices
Reporting Entity
The Collier County, Florida Supervisor of Elections (Supervisor of Elections) 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 of Elections' office. The accompanying financial statements were prepared for the
purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the
Auditor General for Local Governmental Entity Audits.
Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires
the Collier County, Florida Supervisor of Elections financial statements to only present fund
financial statements. Accordingly, due to the omission of government -wide financial statements
and related disclosures, including a management's discussion and analysis, these financial
statements do not constitute a complete presentation of the financial position of the Collier
County, Florida Supervisor of Elections as of September 30, 2011, and the changes in its
financial position 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 financial dependency on the Board, the
financial activities of the Supervisor of Elections are included in the Collier County, Florida
Comprehensive Annual Financial Report.
Transfers are provided by appropriations from the Board pursuant to law. Estimated receipts and
budgeted general fund balances must equal appropriations. The Supervisor of Elections is
required to refund to the Board all excess appropriations annually; therefore, no unappropriated
general fund balance is carried forward.
1112- 1315575 6
Collier County, Florida
Supervisor of Elections
Notes to Special- Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies and Practices (continued)
Measurement Focus, Basis of Accounting, and Basis of Presentation
Fund financial statements report detailed information about the Supervisor of Elections. The
focus of governmental fund financial statements is on a major fund rather than reporting 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 this fund present increases (i.e., revenues and other financing sources)
and decreases (i.e., expenditures and other financing uses) in net current assets.
The Supervisor of Elections has the following major governmental funds:
General Fund — The general fund is used to account for the general operations of the Supervisor
of Elections, 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 of Elections 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.
1112 - 1315575 7
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies Practices (continued)
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 revenues were 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 general fund operations are capitalized in the basic financial
statements of Collier County, Florida rather than in the governmental funds of the Supervisor
of Elections.
Cash Equivalents
Cash equivalents are defined as highly liquid investments with original maturities of three
months or less. Cash equivalents in the Local Government Surplus Funds Trust Fund are
administered by the State Board of Administration (SBA), a 2a -7 like investment pool. Shares of
the investment pool are based on the pool's share price, which approximates fair value. At
September 30, 2011, the Supervisor of Elections had no amounts on deposit in the SBA.
Compensated Absences
All full -time employees of the Supervisor of Elections 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 of Elections 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, but rather is reported in the basic financial statements of Collier County,
Florida.
1112 - 1315575 8
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies and Practices (continued)
Use of Estimates
The preparation of the financial statements requires management of the Supervisor of Elections
to make a number of estimates and assumptions relating to the reporting 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.
New Fund Balance Reporting and Governmental Fund -Type Definitions
The Supervisor of Elections adopted GASB Statement No. 54, Fund Balance Reporting and
Governmental Fund -Type Definitions (GASB Statement No. 54) effective October 1, 2010. This
GASB statement clarifies governmental fund balance classification and fund -type definitions.
Fund balances are reported in classifications based on whether the amounts are spendable or non -
spendable. Spendable amounts are further classified as restricted, committed, assigned or
unassigned 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. At September 30,
2011, the Supervisor of Elections does not have any non - spendable fund balances.
Spendable fund balances are classified based on a hierarchy of the Supervisor of Elections ability
to control the spending of these fund balances and are reported in the following categories:
restricted, committed, assigned and unassigned. The Supervisor of Elections' fund balances for
the Grant Special Revenue Fund fall into this category.
The adoption of GASB Statement No. 54 did not have an impact on the Supervisor of Elections'
general fund financial statements at September 30, 2011 since the Supervisor of Elections does
not maintain fund balances in the general fund. 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.
1112- 1315575 9
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
2. Budgetary Process
Florida Statutes govern the preparation, adoption and administration of the Supervisor of
Elections' annual budget. The Supervisor of Elections 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 of Elections.
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.
3. Cash and Cash Equivalents
At September 30, 2011, the carrying value of the Supervisor of Elections' cash and cash
equivalents was as follows:
Carrying Credit
Type Value Rating
Cash on hand $ 200 N/A
Demand deposits 303,135 N/A
Total cash and cash equivalents $ 303,335
Custodial Credit Risk
At September 30, 2011, the Supervisor of Elections' 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.
1112 - 1315575 10
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
3. Cash and Cash Equivalents (continued)
Credit Risk
The Supervisor of Elections' 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 of Elections to invest
in 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 Supervisor of Elections has no specific investment policy regarding interest rate risk.
4. Capital Assets
Capital assets used by the Supervisor of Elections are reported in the basic financial statements
of Collier County, Florida rather than in the governmental funds of the Supervisor of Elections.
Upon acquisition, such assets are recorded as expenditures in the general fund of the Supervisor
of Elections, and are capitalized at cost in the basic financial statements of the Board. Capital
assets are valued at historical cost or estimated historical cost if actual historical cost is not
available. Donated capital assets are valued at their estimated fair value on the date received. The
Supervisor of Elections 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.
1112- 1315575 11
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
5. Long -Term Liabilities
The following is summary of changes in long -term liabilities which are reported in the basic
financial statements of Collier County, Florida:
October 1, September 30,
2010 Increase Retirement 2011
Accrued compensated absences $ 231,956 $ 86,638 $ 131,949 $ 186,645
Of these liabilities, approximately $130,652 is expected to be paid during the fiscal year ending
September 30, 2011. These long -term liabilities are not reported in the financial statements of the
Supervisor of Elections since they have not matured.
6. Employee Retirement Plans
Substantially all full -time employees of the Supervisor of Elections filling regularly established
positions are eligible to participate in the State of Florida Retirement System (System), a cost -
sharing multiple - employer defined benefit plan administered by the State of Florida, Division of
Retirement. The System is a defined benefit plan for all state, and participating county, district
school board, community college and university employees (Pension Plan). The System also
offers eligible employees participation in an alternative defined contribution plan (Investment
Plan). The Supervisor of Elections participates in the Elected State Officers' Class. The plan is
administered by the State of Florida. Contribution rates are established statewide for all
participating governmental units. Accordingly, the actuarial information and related disclosures
attributable to the Supervisor of Elections' employees are not determinable.
Employees enrolled in the plan prior to July 1, 2011 who retire at or after age 62 with 6 years of
credited service, or with 30 years of service regardless of age, are entitled to a retirement benefit,
payable monthly for life, equal to 1.60% for regular employees, 2.00% for senior management
and 3.00% for county elected officials for each year of credited service times the final average
compensation. Employees enrolled on or after July 1, 2011 who retire at or after age 65 with 8
years of credited service or 33 years of service regardless of age, are entitled to the retirement
benefits as outlined above. Final average compensation is the employee's average of the five
highest fiscal years of salary earned during credited service for those enrolled prior to July 1,
2011 and the eight highest fiscal years of salary for those hired on or after July 1, 2011.
1112 - 1315575 12
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
6. Employee Retirement Plans (continued)
Vested employees may retire before age 62 and receive benefits that are reduced 5.00% for each
year prior to normal retirement age (65 years of age if hired on or after July 1, 2011). Employees
participating in the Investment Plan are vested after one year of service with no age requirement.
The System also provides death and disability benefits. Benefits are established by Chapter 121,
Florida Statutes, and Chapter 22B, Florida Administrative Code.
The Deferred Retirement Option Program (DROP) is a program that provides an alternative
method for payment of retirement benefits for a specified and limited period for members of the
System, effective July 1, 1998. Under this program, the employee may participate as of their
normal retirement date and have their benefits accumulate in the Florida Retirement System
Trust Fund, earning interest, while continuing to work for a System employer. Employees
enrolled in DROP prior to July 1, 2011 earn interest on accumulated benefits in the Trust Fund at
6.50 %; those enrolling on or after July 1, 2011 earn interest at 1.30 %. The participation in the
program does not change conditions of employment. When the DROP period ends, maximum of
60 months, employment must be terminated. At the time of termination of employment, the
employee will receive payment of the accumulated DROP benefits, and begin receiving their
monthly retirement benefit (in the same amount determined at retirement, plus annual cost -of-
living increases). Investment Plan members are not eligible to participate in the DROP program,
but Pension Plan members are eligible to roll their DROP lump sum into the Investment Plan as
one of the distribution methods under the Pension Plan.
The System publishes an annual report that provides ten -year historical trend information about
progress made in accumulating sufficient assets to pay benefits when due. This report may be
obtained by writing to the Division of Retirement Research Education and Policy Section 1317
Winewood Boulevard, Building 8, Tallahassee, Florida 32399 -1560, or by calling
(877) 377 -1737, or accessing their Internet site at www.dms.MyFlorida.com.
The Supervisor of Elections is required to contribute an actuarially determined rate. Rates from
October 1, 2010 through June 30, 2011 were 18.64% for county elected officials, 14.57% for
senior management, 10.77% for regular employees and 12.25% for DROP employees based on
covered payroll. The current rates, effective July 1, 2011, are 11.14% for county elected officials,
6.27% for senior management, 4.91% for regular employees and 4.42% for DROP employees
based on covered payroll. In addition, as of July 1, 2011, employee contributions of 3.00% are
required of all Pension Plan and Investment Plan members, except for those in DROP.
1112- 1315575 13
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
6. Employee Retirement Plans (continued)
The contribution requirements of the Supervisor of Elections are established and may be
amended by the State of Florida. The Supervisor of Elections' employer contributions to the plan
for the years ended September 30, 2011, 2010 and 2009, were $125,995, $135,823 and $130,784,
respectively, equal to the required contributions for each year.
7. Other Postemployment Healthcare Benefits (OPEB) Plan
The County reports its obligations for OPEB pursuant to GASB Statement No. 45, Accounting
and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.
Plan Description. The Supervisor of Elections participates in a group health care plan that
covers eligible retirees, and their dependents, of the Board of County Commissioners and all
Constitutional Officers with the exception of the Sheriff. The Board administers the plan and
establishes the benefits. The healthcare plan does not issue a stand -alone financial report,
however additional actuarial information regarding the plan as a whole is disclosed in the notes
to the financial statements of Collier County, Florida.
Under Florida Statutes, retirees originally hired prior to July 1, 2011 are eligible to participate in
the active medical plan by paying the active rate if they have attained age 62 and have 6 years of
service or have at least 30 years of service. Employees hired on or after July 1, 2011 are eligible
to participate in the active medical plan by paying the active rate if they have attained age 65 and
have 8 years of service or have at least 33 years of service. Employees eligible for a reduced
benefit under the Florida Retirement System prior to age 62 (65 years of age if hired on or after
July 1, 2011) are also eligible to participate in the medical plan. The Supervisor of Elections
provides no subsidy to the retiree, or their dependents, for group health care.
Funding Policy. The contribution requirements of the plan members and the employers are
established and may be amended by the County. The plans are financed by the participating
agencies on a pay as you go basis through the County's self insurance internal service
fund. Participating agencies contribute an additional amount per each active employee to fund
retiree health care. The Supervisor of Elections had an actuarial accrued liability of $6,255 as of
September 30, 2011.
1112- 1315575 14
Collier County, Florida
Supervisor of Elections
Notes to Special - Purpose Financial Statements (continued)
7. Other Postemployment Healthcare Benefits (OPEB) Plan (continued)
The annual other postemployment benefit cost is calculated based on the annual required
contribution of the employer (ARC), an amount actuarially determined in accordance with
GASB Statement 45. The ARC represents a level of funding that, if paid by on an ongoing basis,
is projected to cover normal cost each year and amortize any unfunded actuarial liabilities over a
period not to exceed thirty years. An actuarial valuation on the plan as a whole was performed
in November 2011. The notes to the financial statements of the County disclose additional
information regarding the other post employment benefit plan as a whole.
8. Related -Party Transactions
For the year ended September 30, 2011, the Board provided funding for the Supervisor of
Elections that amounted to 3,082,300. At September 30, 2011, the Supervisor of Elections had a
payable due to the Board of $149,959 comprised as follows:
Distribution of excess appropriations $ 144,205
Distribution of interest earnings 1,177
Amounts due for various services 4,577
Total due to Board of County Commissioners $ 149,959
9. Risk Management
Collier County, Florida (the 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, 2011, the Supervisor was charged $265,533 by the County for participation
in the risk management program.
The County provides coverage for up to $500,000 per claim for workers' compensation, and has
purchased outside excess coverage for up to the statutory limit for each injury or illness. The
County also provides coverage for up to $100,000 per person /$200,000 per occurrence for auto
and other liability claims, and has purchased outside excess coverage for up to $1,000,000 per
claim. Negligence claims in excess of the statutory limits set in Section 768.20, Florida Statutes,
1112 - 1315575 15
Collier County, Florida
Supervisor of Elections
Notes to Special- Purpose Financial Statements (continued)
9. Risk Management (continued)
which provide for limited sovereign immunity of $100,000 per person/$200,000 per occurrence
can only be recovered through an act of the State Legislature. The County also provides coverage
for up to $100,000 per person/$200,000 per occurrence for public official's errors and omissions
claims and has purchased outside excess coverage for up to $5,000,000 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 also self - insured for health claims covering all of its employees and their eligible
dependents. The County retains the first $275,000 in losses per calendar year per covered
member and purchases excess coverage with no maximum lifetime limit. As required by Section
112.081, Florida Statutes, retirees and their eligible dependents are provided the same health
care coverage as is offered to active employees at the same premium cost (borne by the retiree)
applicable to active employees. An actuarial valuation is performed each year to estimate the
amounts needed to pay prior and future claims and to establish reserves.
10. Contingencies
Grant funds received by the Supervisor of Elections 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 of Elections. In the opinion of management, disallowed costs, if any,
would not have a significant impact on the financial position of the Supervisor of Elections.
1112 - 1315575 16
Other Reports
1112 - 1315575
JERNST &YOUNG
Ernst & Young LLP
Suite 500
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Report of Independent Certified Public Accountants on Internal Control
Over Financial Reporting and on Compliance and Other Matters Based
on an Audit of the Special- Purpose Financial Statements Performed in
Accordance With Government Auditing Standards
The Honorable Jennifer J. Edwards, Supervisor of Elections
Collier County, Florida
We have audited the special - purpose financial statements of each major fund of the Collier
County, Florida Supervisor of Elections (the Supervisor of Elections) as of and for the year
ended September 30, 2011, and have issued our report thereon dated December 19, 2011, which
describes that such special - purpose financial statements have been prepared for the purpose of
complying with Section 218.39, Florida Statutes, and Chapter 10.557(3), Rules of the Auditor
General for Local Governmental Entity Audits. We conducted our audit in accordance with
auditing standards generally accepted in the United States and the standards applicable to
financial audits contained in Government Auditing Standards, issued by the Comptroller General
of the United States.
Internal control over financial reporting
In planning and performing our audit, we considered the Supervisor of Elections' internal control
over financial reporting as a basis for designing our auditing procedures for the purpose of
expressing our opinion on the special - purpose financial statements, but not for the purpose of
expressing an opinion on the effectiveness of the Supervisor of Elections' internal control over
financial reporting. Accordingly, we do not express an opinion on the effectiveness of the
Supervisor of Elections' internal control over financial reporting.
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 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.
Our consideration of internal control over financial reporting 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 deficiencies, significant deficiencies or material weaknesses. We
did not identify any deficiencies in internal control over financial reporting that we consider to
be material weaknesses, as defined above.
1112 - 1315575 17
A member firm of Ernst & Young Global Limited
IN ERN
IIII�I�I ST &YOUNG
I
I I
Compliance and other matters
As part of obtaining reasonable assurance about whether the Supervisor of Elections' special -
purpose financial statements are free of 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 determination of
special - purpose financial statement amounts. 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.
We noted certain matters that we reported to management of the Supervisor of Elections in a
separate letter dated December 19, 2011.
This report is intended solely for the information and use of the Supervisor of Elections,
management, the Board of County Commissioners of Collier County, Florida, and the Auditor
General of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.
fgtirw� f UP 19, 2011
1112- 1315575 18
A member firm of Ernst 8 Young Global Limited
III iiiiiiiiiiiiiiiiiiiiiilljllllllllllllI I I
=f ERNST & YOUNG
Management Letter
Honorable Jennifer J. Edwards, Supervisor of Elections
Collier County, Florida
Ernst & Young LLP
Suite 500
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1561 955 8000
Fax: +1561955 8200
www.ey.com'
We have audited the special - purpose financial statements of each major fund of the Collier
County, Florida Supervisor of Elections (the Supervisor) as of and for the year ended
September 30, 2011, and have issued our report thereon dated December 19, 2011.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Additionally, our audit was
conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General,
which govern the conduct of local governmental audits performed in the state of Florida and
require that certain items be addressed in this letter.
We have also issued our report dated December 19, 2011 on internal control over financial
reporting and on compliance and other matters based on an audit of special - purpose financial
statements performed in accordance with Government Auditing Standards. Disclosures in that
report should be considered in conjunction with this management letter.
We have the following suggestions for improvement in accounting procedures and controls.
Current Year Findings and Recommendations
2011 -01 Elected Official & Employee Expense Reimbursements
Observation
The Supervisor of Elections (Supervisor) and the employees of the office submit expense reports
for any expenses incurred in conjunction with any travel undertaken in the normal course of
business. The Supervisor has elected to follow the per diem expense reimbursement amounts and
policies set by the United States General Services Administration (GSA). During our audit, we
noted that the per diem amounts reimbursed to the Supervisor and employees were calculated
and submitted for reimbursement incorrectly, whereby the total expense reimbursements for all
employees for the year were less than the allowable amount. Additionally, we note that certain of
the original reports reviewed in our testing lacked certain documentation as to the appropriate
business purpose.
1112 - 1315575 19
A member firm of Ernst & Young Global Limited
JERNST &YOUNG
Recommendation
We suggest that the Supervisor of Elections perform a review of all expense reports prepared by
the employees and signoff as to the reports' accuracy, appropriate business purpose, and ensure
that the related documentation is attached.
Management's response:
Management concurs with Ernst & Young's recommendations. The Supervisor of Elections'
Office has implemented procedures to ensure that each expense report is reviewed as to the
report's accuracy, appropriate business purpose, compliance with policies, and that the related
documentation is attached. This review by the Supervisor of Elections is evidenced by her
signoff on the expense reports.
Prior Year Findings and Recommendations
There were no findings or recommendations made in the prior year financial audit.
Other Required Communications
No matters of noncompliance with Section 218.415, Florida Statutes, regarding the investment
of public funds were identified within the scope of our audit.
The results of our audit disclosed no violations of laws, rules, regulations or contractual
provisions or abuse, no improper or illegal expenditures, and no control deficiencies.
The Supervisor of Elections was established by the Constitution of the State of Florida,
Article VIII, Section 1(d).
This management letter is intended solely for the information and use of the Supervisor of
Elections, management, the Board of County Commissioners of Collier County, Florida, and the
Auditor General of the State of Florida, and is not intended to be and should not be used by
anyone other than these specified parties.
December 19, 2011
1112 - 1315575
O 7 UP
A member firm of Ernst 8 Young Global Limited
20
L1,11st & yomm LLP
Assurance I Tax I Transactions I Advisory
About Ernst & Young
A
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SPECIAL- PURPOSE FINANCIAL STATEMENTS
Collier County, Florida
Tax Collector
Years Ended September 30, 2011 and 2010
With Report of Independent Certified Public Accountants
Ernst & Young LLP
=� ERNST & YOUNG
Collier County, Florida
Tax Collector
Special - Purpose Financial Statements
Years Ended September 30, 2011 and 2010
Contents
Report of Independent Certified Public Accountants ........................................ ..............................1
Special - Purpose Financial Statements
Special - Purpose Balance Sheets — General Fund .............................................. ..............................3
Special - Purpose Statements of Revenues, Expenditures, and Changes in Fund
Balance— General Fund .................................................................................. ..............................4
Special - Purpose Statement of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual — General Fund — Budgetary Basis ................. ..............................5
Special - Purpose Statements of Fiduciary Assets and Liabilities — Agency Funds ..........................6
Notes to Special- Purpose Financial Statements ................................................. ..............................7
Report of Independent Certified Public Accountants on Internal Control Over Financial
Reporting and on Compliance and Other Matters Based on an Audit of
Special - Purpose Financial Statements Performed in Accordance with Government
AuditingStandards ........................................................................................ .............................20
ManagementLetter ........................................................................................... .............................22
1112- 1315667
I����I����IIIIIIIIIIIIIIIII���1111111" " "
JERNST &YOUNG
Ernst & Young LLP
Suite 500
5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 555 8200
www.ey.com'
Report of Independent Certified Public Accountants
Honorable Lamy H. Ray, Tax Collector
Collier County, Florida
We have audited the accompanying special - purpose financial statements of the general fund and
the aggregate remaining fund information of the Collier County, Florida Tax Collector (the Tax
Collector), as of and for the years ended September 30, 2011 and 2010, as listed in the table of
contents. These special - purpose financial statements are the responsibility of the Tax Collector's
management. Our responsibility is to express opinions on these special - purpose financial
statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about whether the special - purpose
financial statements are free of material misstatement. We were not engaged to perform an audit of
the Tax Collector's internal control over financial reporting. Our audits included consideration of
internal control over financial reporting as a basis for designing 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 over financial reporting. Accordingly, we
express no such opinion. An audit also includes examining, on a test basis, evidence supporting the
amounts and disclosures in the special - purpose financial statements, assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall
special - purpose financial statement presentation. We believe that our audits provide a reasonable
basis for our opinions.
As discussed in Note 1, the accompanying special - purpose financial statements referred to above
were prepared for the purpose of complying with Section 218.39, Florida Statutes, and
Chapter 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These
special - purpose financial statements are not intended to be a complete presentation of the Tax
Collector's financial position and its changes in financial position, where applicable, therefore, for
the years then ended, in conformity with accounting principles generally accepted in the United
States. Additionally, the special - purpose statements present only the Tax Collector and do not
purport to, and do not, present fairly the financial position of Collier County, Florida, as of
September 30, 2011 and 2010, and the changes in its financial position, where applicable, for the
years then ended, in conformity with accounting principles generally accepted in the
United States.
1112- 1315667 1
A member firm of Ernst & Young Global Limited
JEeNSr &YouNc
In our opinion, the special - purpose financial statements referred to above present fairly, in all
material respects, the respective financial position of the general fund and the aggregate remaining
fund information of the Tax Collector as of September 30, 2011 and 2010, and the respective
changes in financial position, thereof for the years then ended, and the budgetary comparison for
the general fund for the year ended September 30, 2011 in conformity with accounting principles
generally accepted in the United States.
In accordance with Government Auditing Standards, we have also issued our report dated
December 19, 2011, on our consideration of the 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 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 internal control over financial reporting or on compliance.
That report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be considered in assessing the results of our audit.
This report is intended solely for the information and use of the Tax Collector, management, the
Board of County Commissioners of Collier County, Florida, and the Auditor General of the State
of Florida, and is not intended to be and should not be used by anyone other than these specified
parties.
�iiVi�� f UP 19, 2011
1112- 1315667 2
A member firm of Ernst 8 Young Global Limited
Collier County, Florida
Tax Collector
Special - Purpose Balance Sheets — General Fund
September 30
2011 2010
Assets
Cash and cash equivalents $ 7,509,504 $ 8,916,768
Due from other funds 50,437 48,581
Prepaid rent 20,995 20,367
Security deposit 4,628 4,628
Total assets $ 7,585,564 $ 8,990,344
Liabilities and fund balance
Liabilities:
Accounts payable $ 9,027 $ 11,348
Due to Collier County, Florida Board of
County Commissioners 6,692,537 7,935,116
Due to other governmental agencies 884,000 1,043,880
Total liabilities 7,585,564 8,990,344
Fund balance — —
Total liabilities and fund balance $ 7,585,564 $ 8,990,344
See accompanying notes.
1112 - 1315667 3
Collier County, Florida
Tax Collector
Special - Purpose Statements of Revenues, Expenditures,
and Changes in Fund Balance — General Fund
Revenues:
Commissions and fees
Miscellaneous
Total revenues
Expenditures:
General government:
Personal services
Operating
Capital outlay
Distribution of excess commissions and fees to other
governmental agencies
Total expenditures
Excess of revenues over expenditures
Other financing uses:
Distribution of excess commissions and
fees to Collier County, Florida Board of County
Commissioners
Total other financing uses
Excess of revenues over expenditures and other financing uses
Fund balance, beginning of year
Fund balance, end of year
See accompanying notes.
Year Ended September 30,
2011 2010
$ 18,092,412
$ 19,792,647
297,709
456,531
18,390,121
20,249,178
9,095,954
9,467,219
1,679,341
1,753,251
38,289
49,712
884,000 1,043,880
11,697,584 12,314,062
6,692,537 7,935,116
(6,692,537) (7,935,116)
(6,692,537) (7,935,116)
1112 - 1315667 4
Collier County, Florida
Tax Collector
Special - Purpose Statement of Revenues, Expenditures, and
Changes in Fund Balance — Budget and Actual — General Fund
(Budgetary Basis)
Year Ended September 30, 2011
Variance With
Final Budget
Budget Positive
Original Final Actual (Negative)
Revenues:
Commissions and fees S 18,872,054 $ 18,092,412 $18,092,412 $ —
Miscellaneous 424,500 297,709 297,709 —
Total revenues 19,296,554 18,390,121 18,390,121 —
Expenditures:
General government:
Personal services
9,592,600
9,095,954
9,095,954 —
Operating
2,106,353
1,679,341
1,679,341 —
Capital outlay
38,371
38,289
38,289 —
Total expenditures
11,737,324
10,813,584
10,813,584 —
Excess of revenues over expenditures 7,559,230 7,576,537 7,576,537 —
Other financing uses:
Distribution of excess commissions
and fees to Collier County, Florida
Board of County Commissioners (6,803,307) (6,692,537) (6,692,537) —
Distribution of excess commissions
and fees to other governmental
agencies (755,923) (884,000) (884,000) —
Total other financing uses (7,559,230) (7,576,537) (7,576,537) —
Excess of revenues over expenditures
and other financing uses
Fund balance, beginning of year
Fund balance, end of year $ — $ _ $ _ $ _
See accompanying notes.
1112- 1315667 5
Collier County, Florida
Tax Collector
Special - Purpose Statements of Fiduciary Assets and Liabilities — Agency Funds
September 30
2011 2010
Assets
Cash and cash equivalents $ 5,443,691 $ 6,584,222
Accounts receivable 8,436 10,572
Due from other funds -- 5,402
Total assets $ 5,452,127 $ 6,600,196
Liabilities
Due to other funds $ 50,437 $ 53,983
Due to Collier County, Florida Board of
County Commissioners 785,320 744,528
Due to other governmental agencies 4,473,378 4,300,060
Due to individuals and businesses 142,992 1,501,625
Total liabilities $ 5,452,127 $ 6,600,196
See accompanying notes.
1112 - 1315667 6
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements
September 30, 2011
1. Summary of Significant Accounting Policies
Reporting Entity
The Collier County, Florida Tax Collector (Tax Collector) is an elected constitutional officer as
provided for by the Constitution of the State of Florida. Pursuant to Chapter 195.087, Florida
Statutes, the Tax Collector's budget is submitted to the Florida Department of Revenue for
approval, and a copy is forwarded to the Collier County, Florida Board of County Commissioners
(Board).
The special - purpose financial statements presented include the general fund and agency funds of
the Tax Collector's office. The accompanying special - purpose financial statements were prepared
for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules
of the Auditor General for Local Governmental Entity Audits.
Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires
the Collier County, Florida Tax Collector to only present fund financial statements. Accordingly,
due to the omission of government -wide financial statements and related disclosures, including a
management's discussion and analysis, these special - purpose financial statements do not
constitute a complete presentation of the financial position of the Collier County, Florida Tax
Collector as of September 30, 2011 and 2010, and the changes in its financial position for the years
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 special - purpose financial statements prepared in
conformity with U.S. generally accepted accounting principles (GAAP).
The financial activities of the Tax Collector, as a constitutional officer, are included in the Collier
County, Florida Comprehensive Annual Financial Report.
Measurement Focus, Basis of Accounting, and Basis of Presentation
These special - purpose fund financial statements report detailed information about the Tax
Collector. 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.
1112- 1315667 7
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
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 special - purpose
balance sheets. 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 current liabilities of the fiscal year). For this purpose,
the Tax Collector considers revenues to be available if they are collected within 60 days after the
end of the current period. 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 (the County) rather than in the governmental funds of the
Tax Collector.
1112 - 1315667 8
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Fiduciary Funds
Agency 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.
Agency funds are custodial in nature (assets equal liabilities), and do not involve measurement of
results of operations or have a measurement focus. Agency 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 either an expenditure or other financing use - transfer out,
respectively, in the accompanying special - purpose 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 Tax Collector are allowed to accumulate an unlimited number of
hours of unused sick time and up to 240 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. Vacation 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 he legally required to, accumulate financial resources for these unmatured obligations.
Accordingly, the liability for compensated absences is not reported in the general fund, but rather
is reported in the basic financial statements of Collier County, Florida.
1112- 1315667 9
Collier County, Florida
Tax Collector
Notes to Special- Purpose Financial Statements (continued)
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 December 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 I% 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.
Tart 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.
1112 - 1315667 10
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
1. Summary of Significant Accounting Policies (continued)
Use of Estimates
The preparation of these special - purpose 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.
New Fund Balance Reporting and Governmental Fund -Type Definitions
The Tax Collector adopted GASB Statement No. 54, Fund Balance Reporting and Governmental
Fund -Type Definitions (GASB Statement No. 54) effective October 1, 2010. This GASB
statement clarifies governmental fund balance classification and fund -type definitions. Fund
balances are reported in classifications based on whether the amounts are spendable or
non - spendable. Spendable amounts are further classified as restricted, committed, assigned or
unassigned based on the extent to which there are external and /or internal constraints in how fund
balance amounts may be spent. The adoption of GASB Statement No. 54 did not have an impact
on the Tax Collector's financial statements at September 30, 2011 since the Tax Collector does not
maintain fund balances.
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 U.S. generally
accepted accounting principles. 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.
1112- 1315667 11
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
2. Budgetary Process (continued)
There is a difference between the budgetary basis of accounting and GAAP in the treatment of
excess fee distributions to entities outside of the County's reporting entity. On a budgetary basis,
distributions of excess fees through this fund are reported as other financing uses. On a GAAP
basis, these distributions are reported as expenditures because there is a reduction in the financial
resources of the County.
3. Cash and Cash Equivalents
At September 30, 2011 and 2010, the carrying value of the Tax Collector's cash and cash
equivalents were as follows:
2011 2010
Carrying Carrying Credit
Type Value Value Rating
Cash on hand $ 43,650 $ 39,370 N/A
Demand deposits 12,909,545 15,461,620 NIA
Total cash and cash equivalents $ 12,953,195 $ 15,500,990
Such amounts are reported as $7,509,504 and $5,443,691 for 2011 and $8,916,768 and $6,584,222
for 2010 in the general and agency funds, respectively.
Custodial Credit Risk
At September 30, 2011, 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.
Interest Rate Risk
The Tax Collector has no specific investment policy regarding interest rate risk.
1112 - 1315667 12
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
3. Cash and Cash Equivalents (continued)
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 (formerly the
Local Government Surplus Funds Trust) 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.
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 the 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 their estimated fair 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 special - purpose financial statements. However, depreciation
expense on these assets is recorded in the basic financial statements of Collier County, Florida.
1112- 1315667 13
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
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
2010 Increase Decrease 2011
Accrued compensated absences $ 1,101,850 $ 469,541 $ 480,269 $ 1,091,122
October 1 September 30
2009 Increase Decrease 2010
Accrued compensated absences $ 1,150,777 $ 466,176 $ 515,103 $ 1,101,850
Of these liabilities, approximately $500,000 is expected to be paid during the fiscal year ending
September 30, 2011, which will be included in the operating costs of the general fund when
expended. These long -term liabilities are not reported in the special - purpose financial statements
of the Tax Collector since they have not matured.
6. Employee Retirement Plans
Substantially all full -time employees of the Tax Collector are eligible to participate in the State of
Florida Retirement System (System), a cost - sharing multiple - employer defined benefit plan
administered by the State of Florida, Division of Retirement. The System is a defined benefit plan
for all state, and participating county, district school board, community college and university
employees (Pension Plan). The System also offers eligible employees participation in an
alternative defined contribution plan (Investment Plan). The Tax Collector participates in the
Elected State Officers' Class. The plan is administered by the State of Florida. Contribution rates
are established statewide for all participating governmental units. Accordingly, the actuarial
information and related disclosures attributable to the Tax Collector's employees are not
determinable.
Employees enrolled in the plan prior to July 1, 2011 who retire at or after age 62 with 6 years of
credited service, or with 30 years of service regardless of age, are entitled to a retirement benefit,
payable monthly for life, equal to 1.60% for regular employees, 2% for senior management and
3.00% for county elected officials for each year of credited service times the final average
1112- 1315667 14
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
6. Employee Retirement Plans (continued)
compensation. Employees enrolled on or after July 1, 2011 who retire at or after age 65 with 8
years of credited service or 33 years of service regardless of age, are entitled to the retirement
benefits as outlined above. Final average compensation is the employee's average of the five
highest fiscal years of salary earned during credited service for those enrolled prior to July 1, 2011
and the eight highest fiscal years of salary for those hired on or after July 1, 2011. Vested
employees may retire before age 62 (65 years of age if hired on or after July 1, 2011) and receive
benefits that are reduced 5.00% for each year prior to normal retirement age. Employees
participating in the Investment Plan are vested after one year of service with no age requirement.
The System also provides death and disability benefits. Benefits are established by Chapter 121,
Florida Statutes, and Chapter 22B, Florida Administrative Code.
The Deferred Retirement Option Program (DROP) is a program that provides an alternative
method for payment of retirement benefits for a specified and limited period for members of the
System, effective July 1, 1998. Under this program, the employee may participate as of their
normal retirement date and have their benefits accumulate in the Florida Retirement System Trust
Fund, earning interest, while continuing to work for a System employer. Employees enrolled in
DROP prior to July 1, 2011 earn interest on accumulated benefits in the Trust Fund at 6.50 %, those
enrolling on or after July 1, 2011 earn interest at 1.30 %. The participation in the program does not
change conditions of employment. When the DROP period ends, maximum of 60 months,
employment must be terminated. At the time of termination of employment, the employee will
receive payment of the accumulated DROP benefits, and begin receiving their monthly retirement
benefit (in the same amount determined at retirement, plus annual cost -of- living increases).
Investment Plan members are not eligible to participate in the DROP program, but Pension Plan
members are eligible to roll their DROP lump sum into the Investment Plan as one of the
distribution methods under the Pension Plan.
The System publishes an annual report that provides ten -year historical trend information
about progress made in accumulating sufficient assets to pay benefits when due. This report
may be obtained by writing to the Division of Retirement Research Education and Policy Section
1317 Winewood Boulevard, Building 8, Tallahassee, Florida 32399 -1560, or by calling
(877) 377 -1737, or accessing their Internet site at www.dms.MyFlorida.com.
The Tax Collector is required to contribute an actuarially determined rate. Rates from October 1,
2010 through June 30, 2011 were 18.64% for county elected officials, 14.57% for senior
management, 10.77% for regular employees and 12.25% for DROP employees based on covered
1112- 1315667 15
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
6. Employee Retirement Plans (continued)
payroll. The current rates, effective July 1, 2011, are 11.14% for county elected officials, 6.27%
for senior management, 4.91% for regular employees and 4.42% for DROP employees based on
covered payroll. In addition, as of July 1, 2011, employee contributions of 3.00% are required of
all Pension Plan and Investment Plan members, except for those in DROP. The contribution
requirements of the Tax Collector are established and may be amended by the State of Florida. The
Tax Collector's employer contributions to the plan for the years ended September 30, 2011, 2010
and 2009, were $574,044, $661,722 and $667,905, respectively, equal to the required
contributions for each year.
7. Other Postemployment Healthcare Benefits (OPEB) Plan
Plan Description. The Tax Collector participates in a group health care plan that covers eligible
retirees, and their dependents, of the Board and all Constitutional Officers with the exception of
the Sheriff. The Board administers the plan and establishes the benefits. The healthcare plan does
not issue a stand -alone financial report, however additional actuarial information regarding the
plan as a whole is disclosed in the notes to the financial statements of Collier County.
Under Florida Statutes, retirees originally hired prior to July 1, 2011 are eligible to participate in
the active medical plan by paying the active rate if they have attained age 62 and have 6 years of
service or have at least 30 years of service. Employees hired on or after July 1, 2011 are eligible to
participate in the active medical plan by paying the active rate if they have attained age 65 and
have 8 years of service or have at least 33 years of service. Employees eligible for a reduced
benefit under the Florida Retirement System prior to age 62 (65 years of age if hired on or after
July 1, 2011) are also eligible to participate in the medical plan. In addition, the Tax Collector
provides a 100% subsidy for retirees between the ages of 55 and 65 with more than 10 years of
service and 800 hours of accumulated sick leave to remit at the time of retirement.
Funding Policy. The contribution requirements of the plan members and the employers are
established and may be amended by the County. The plans are financed by the participating
agencies on a pay as you go basis through the County's self insurance internal service
fund. Participating agencies contribute an additional amount per each active employee to fund
retiree health care. The Tax Collector's agency had an actuarial accrued liability of $8,261 as of
September 30, 2011.
1112 - 1315667 16
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
7. Other Postemployment Healthcare Benefits (OPEB) Plan (continued)
The annual other postemployment benefit cost is calculated based on the annual required
contribution of the employer (ARC), an amount actuarially determined in accordance with GASB
Statement 45. The ARC represents a level of funding that, if paid by on an ongoing basis, is
projected to cover normal cost each year and amortize any unfunded actuarial liabilities over a
period not to exceed thirty years. An actuarial valuation on the plan as a whole was performed
in November 2011. The notes to the financial statements of the County disclose additional
information regarding the other post employment benefit plan as a whole.
8. Related -Party Transactions
During the fiscal years ended September 30, 2011 and 2010, the Board paid commissions and fees
to the Tax Collector that amounted to $16,244,429 and $17,895,031, respectively. At
September 30, 2011 and 2010, the Tax Collector had a payable due to the Board of $7,477,857 and
$8,679,644 respectively, comprised as follows:
2011 2010
Distribution of excess commissions and fees $ 6,692,537 $ 7,935,116
Agency funds due to the Board 785,320 744,528
$ 7,477,857 $ 8,679,644
9. Risk Management
Collier County, Florida (the 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 years ended September 30, 2011 and 2010, the
Tax Collector was charged $2,423,426 and $2,251,828, respectively, by the County for
participation in the risk management program.
The County provides coverage for up to $500,000 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 $200,000 per claim for auto and other liability
1112- 1315667 17
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
9. Risk Management (continued)
claims, and has purchased outside excess coverage for up to $2 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 $100,000/$200,000 per occurrence can only be recovered through
an act of the State Legislature. 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 also self - insured for health claims covering all of its employees and their eligible
dependents. The County retains the first $275,000 in losses per calendar year per covered member
and purchases excess coverage with no lifetime limit. As required by Section 112.081, Florida
Statutes, retirees and their eligible dependents are provided the same health care coverage as is
offered to active employees at the same premium cost (borne by the retiree) applicable to active
employees. An actuarial valuation is performed each year to estimate the amounts needed to pay
prior and future claims and to establish reserves (see Note 7).
10. Commitments and Contingencies
Leases
The Tax Collector has noncancelable operating leases for certain office facilities that were utilized
solely by the Tax Collector for fiscal year 2011. The three current leases include options for 5 year
renewals, and contain annual escalation clauses ranging from 3 -5% annually. The following is a
schedule of future minimum lease payments under the operating leases:
Fiscal year ending September 30:
2012
$ 292,611
2013
305,569
2014
253,942
2015
211,505
2016
160,409
Rental expense for all operating leases in the aggregate was $329,414 and $325,766 for the years
ended September 30, 2011 and 2010, respectively. There were no contingent rentals or sublease
rentals associated with leases in effect at September 30, 2011 or 2010.
1112 - 1315667 18
Collier County, Florida
Tax Collector
Notes to Special - Purpose Financial Statements (continued)
10. Commitments and Contingencies (continued)
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.
1112 - 1315667 19
r
N Ernst & Young LLP
-� ERNST &Y
Ov v Suite 500
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I I 5100 Town Center Circle
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.cbm
Report of Independent Certified Public Accountants on Internal Control
Over Financial Reporting and on Compliance and Other Matters
Based on an Audit. of Special - Purpose Financial Statements
Performed in Accordance with Government Auditing Standards
Honorable Larry H. Ray, Tax Collector
Collier County, Florida
We have audited the special - purpose financial statements of the general fund and the aggregate
remaining fund information of the Collier County, Florida Tax Collector (the Tax Collector) as of
and for the years ended September 30, 2011 and 2010, and have issued our report thereon dated
December 19, 2011, which describes that such special - purpose financial statements have been
prepared for the purpose of complying with Section 218.39, Florida Statutes, and
Chapter 10.577(3), Rules of the Auditor General . for Local Governmental Entity Audits. We
conducted our audit in accordance with auditing standards generally accepted in the United States
and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the Tax Collector's internal control over
financial reporting as a basis for designing our auditing procedures for the purpose of expressing
our opinion on the special - purpose financial statements, but not for the purpose of expressing an
opinion on the effectiveness of the Tax Collector's internal control over financial reporting.
Accordingly, we do not express an opinion on the effectiveness of the Tax Collector's internal
control over financial reporting.
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
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.
Our consideration of internal control over financial reporting 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 deficiencies, significant deficiencies or material weaknesses. We did not
identify any deficiencies in internal control over financial reporting that we consider to be material
weaknesses, as defined above.
1112- 1315667 20
A member firm of Ernst & Young Global Limited
=W ERN T
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Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Tax Collector's special - purpose
financial statements are free of 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 determination of special - purpose financial
statement amounts. 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.
This report is intended solely for the information and use of the Tax Collector, management, others
within the entity, the Board of County Commissioners of Collier County, Florida and the Auditor
General of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.
December 19, 2011
1112- 1315667
19�* "7 UP
A member firm of Ernst & Young Global Limited
21
ERNST &YOUNG Ernst &YoungLLP
I I (III E Suite 500
I I 5100 Town Center Circle
I
Boca Raton, Florida 33486
Tel: +1 561 955 8000
Fax: +1 561 955 8200
www.ey.com
Management Letter
Honorable Larry H. Ray, Tax Collector
Collier County, Florida
We have audited the special - purpose financial statements of the general fund and the
aggregate remaining fund information of the Collier County, Florida Tax Collector (the Tax
Collector) as of and for the year ended September 30, 2011, and have issued our report thereon
dated December 19, 2011.
We conducted our audit in accordance with auditing standards generally accepted in the
United States and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Additionally, our audit was
conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General,
which govern the conduct of local governmental audits performed in the state of Florida and
require that certain items be addressed in this letter.
We have also issued our report dated December 19, 2011, on internal control over financial
reporting and on compliance and other matters based on an audit of special - purpose financial
statements performed in accordance with Government Auditing Standards. Disclosures in that
report should be considered in conjunction with this management letter.
We have the following suggestions for improvement in accounting procedures and controls.
Current Year Findings and Recommendations
There were no findings or recommendations as a result of our current year audit.
Prior Year Findings and Recommendations
There were no findings or recommendations made in the prior year financial audit.
Other Required Communications
No matters of noncompliance with Section 218.415, Florida Statutes, regarding the investment of
public funds were identified within the scope of our audit.
1112- 1315667 22
A member firm of Ernst a Young Global Limited
=I ERNST & YOUNG
The results of our audit disclosed no violations of laws, rules, regulations or contractual provisions
or abuse, no improper or illegal expenditures, and no control deficiencies other than the internal
control recommendations included above.
The Tax Collector was established by the Constitution of the State of Florida, Article VIII,
Section 1(d).
This management letter is intended solely for the information and use of the Tax Collector,
management, the Board of County Commissioners of Collier County, Florida, and the Auditor
General of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.
December 19, 2011
1112- 1315667
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