POLK COUNTY FLORIDA - Polk County Clerk of Courts

Transcription

POLK COUNTY
FLORIDA
Comprehensive Annual
Financial Report
Fiscal Year Ended September 30, 2013
POLK COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2013
PREPARED BY THE OFFICE OF
STACY M. BUTTERFIELD, CPA, CLERK OF CIRCUIT COURT
AND COUNTY COMPTROLLER
TABLE OF CONTENTS
INTRODUCTORY SECTION
Clerk and Accountants’ Letter of Transmittal
Certificate of Achievement for Excellence in Financial Reporting
Principal Officials
Organizational Chart
A-1
A-8
A-9
A-10
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT
B-1
MANAGEMENT’S DISCUSSION AND ANALYSIS
C-1
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements:
Statement of Net Position
Statement of Activities
Fund Financial Statements:
Balance Sheet – Governmental Funds
Reconciliation of the Governmental Funds Balance Sheet
Statement of Revenues, Expenditures, and Changes in
Fund Balances – Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures, and Changes
In Fund Balances – Governmental Funds to the Statement of Activities
Statement of Revenues, Expenditures, and Changes in Fund Balance –
Budget (GAAP Basis) and Actual– General Fund
Statement of Fund Net Position – Proprietary Funds
Statement of Revenues, Expenses, and Changes in
Fund Net Position – Proprietary Funds
Statement of Cash Flows – Proprietary Funds
Statement of Fiduciary Net Position – Agency Fund
Notes to Financial Statements
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Funding Progress – Other Postemployment Benefits
Notes to Required Supplementary Information
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D-3
D-5
D-6
D-7
D-8
D-9
D-10
D-12
D-13
D-15
E-1
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F-2
TABLE OF CONTENTS (CONTINUED)
COMBINING AND INDIVIDUAL FUND SCHEDULES
Nonmajor Governmental Funds:
Combining Balance Sheet – Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances – Nonmajor Governmental Funds
Schedules of Revenues, Expenditures, and Changes in Fund Balance –
Budget (GAAP Basis) and Actual
Internal Service Funds:
Combining Statement of Fund Net Position – Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in
Fund Net Position – Internal Service Funds
Combining Statement of Cash Flows – Internal Service Funds
Agency Funds:
Combining Statement of Fiduciary Assets and Liabilities – All Agency Funds
Combining Schedule of Changes in Assets and Liabilities – All Agency Funds
North Ridge Community Redevelopment Agency
Balance Sheet – North Ridge Community Redevelopment Agency
Statement of Revenues, Expenditures and Changes in Fund
Balance – North Ridge Community Redevelopment Agency
Notes to North Ridge Community Redevelopment Agency Financial Statements
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G-5
G-10
G-16
G-47
G-48
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H-2
H-3
Harden/Parkway Community Redevelopment Agency
Balance Sheet – Harden/Parkway Community Redevelopment Agency
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Balance – Harden/Parkway Community Redevelopment Agency
H-7
Notes to Harden/Parkway Community Redevelopment Agency Financial Statements H-8
Polk Commerce Centre Community Redevelopment Agency
Balance Sheet – Polk Commerce Centre Community Redevelopment Agency
Balance – Polk Commerce Centre Community Redevelopment Agency
Notes to Polk Commerce Centre Community Redevelopment Agency
Financial Statements
Eloise Community Redevelopment Agency
Balance Sheet – Eloise Community Redevelopment Agency
Balance – Eloise Community Redevelopment Agency
Notes to Eloise Community Redevelopment Agency Financial Statements
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H-12
H-13
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STATISTICAL SECTION
Financial Trends:
Net Position by Component – Last Ten Years
Changes in Net Position – Last Ten Years
Fund Balances – Governmental Funds, Last Ten Years
Changes in Fund Balances – Governmental Funds, Last Ten Years
Revenue Capacity:
Just Value and Estimated Actual Value of Taxable Property, Last Ten Years
Direct and Overlapping Property Tax Rates, Last Ten Years
Principal Property Tax Payers, Current Year and Nine Years Ago
Property Tax Levies and Collections, Last Ten Years
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Debt Capacity:
Ratios of Outstanding Debt by Type, Last Ten Years
Pledged Revenue Coverage, Last Ten Years, Sales Tax Revenue Bonds
Pledged Revenue Coverage, Last Ten Years, Constitutional Fuel Tax Revenue
Refunding Bonds
Pledged Revenue Coverage, Last Ten Years, Local Option Fuel Tax and Public
Service Tax Bonds
Pledged Revenue Coverage, Last Ten Years, Public Service Tax Revenue Bonds
Pledged Revenue Coverage, Last Ten Years, Water and Sewer Bonds
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I-23
I-24
Demographic and Economic:
Demographic and Economic Statistics, Last Ten Years
Principal Employers, Current Year and Nine Years Ago
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I-26
Operating:
Operating Indicators by Function and Program, Last Ten Years
Full-Time Equivalent Government Employees by Function, Last Ten Years
Capital Asset Statistics by Function and Program, Last Ten Years
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Other Supplemental Schedules:
Capital Improvement Revenue Bonds, Series 2002, 2004A, and 2010
Continuing Disclosure
Distribution Percentages
Historical Sales Tax Revenues of the County
Public Facilities Revenue Bonds, Series 2005
County Revenue Sharing Apportionment Factor Data
Revenue Sharing Trust Fund for Counties Receipts
Pledged Revenue Share Monies
Pro Forma Debt Coverage
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STATISTICAL SECTION (CONTINUED)
Other Supplemental Schedules (continued):
Constitutional Fuel Tax Revenue Refunding Bonds, Series 2006
Historical Distribution of Constitutional Fuel Tax Revenues to Polk County
Historical and Pro Forma Debt Service Coverage
Historical Gasoline Sales, Population Count, Distribution Factor and
Relative Land Area for Polk County
Transportation Improvement Revenue Bonds, Series 2010
Annual Share of Polk County Fuel Tax Revenue
Motor Fuel Gallons Sold in Polk County
Polk County Distribution Percentages (Under Ordinance No. 87.04)
Annual Public Service Tax Revenue
Utility Systems Revenue Bonds, Series 2003, 2004A, 2004B, 2010 and 2012
Historical Revenues and Expenses
Residential Water, Wastewater and Reclaimed Water Rates
Water System Permitted Capacity, Actual Demand and Peak Demand
Wastewater System Permitted Capacity, Actual Flows and Peak Flows
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I-38
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COMPLIANCE SECTION
Independent Auditors’ Report on Internal Control Over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial
Statements Performed in Accordance with Government Auditing Standards
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Independent Auditors’ Report on Compliance with Requirements that Could
Have a Direct and Material Effect on Each Major Federal and State Project and
on Internal Control Over Compliance in Accordance with OMB Circular A-133
and Chapter 10.550
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Schedule of Expenditures of Federal Awards and State Financial Assistance
J-6
Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance
J-18
Schedule of Findings and Questioned Costs – Federal Programs and State Projects
J-19
INTRODUCTORY SECTION
COUNTY PROFILE
Polk County, Florida, is a political subdivision of the State of Florida. On November 3, 1998, the citizens
of Polk County adopted a Home Rule Charter in accordance with the Constitution and Statutes of the
State of Florida. The Home Rule Charter assumed all powers and duties on the first day of January
1999. The Home Rule Charter sets forth a “commission” form of government under which a five
member Board of County Commissioners is elected to serve as the executive and legislative body for
the County.
The Commissioners appoint a County Manager whose duties include the administration of directives
and policies of the Commissioners, responsibility for the operation of all business centers and the
provision of services under the purview of the Commissioners. The citizens of the County also elect a
Sheriff, a Clerk of the Circuit Court and County Comptroller, a Supervisor of Elections, a Tax Collector
and a Property Appraiser, whose responsibilities and duties are not altered by this Home Rule Charter.
The Constitutional Officers shall perform their executive and administrative functions as specified by
law. The financial statements of Polk County include all government functions and operations for which
the County is financially accountable. Accordingly, the financial statements include all the elected
officials referred to above.
Formal budgetary integration is employed as a management control device during the year for all fund
types. The Constitutional Officers submit, at various times, to the Board and to certain divisions within
the Department of Revenue, State of Florida, a proposed operating budget for the fiscal year
commencing the following October 1. The operating budget includes proposed expenditures and the
means of financing them as set forth in Chapter 129 of the Florida Statutes.
Constitutional Officers and all departments of the Board of County Commissioners submit their
proposed budgets to the Budget and Procurement Division for assistance, review and compilation. The
County Manager then reviews the budgets of all County departments and Constitutional Officers and
makes his budget recommendation to the Board of County Commissioners on or before July 15 of each
year. The tentative budget includes proposed appropriations and the means of financing them.
During September, public hearings are held pursuant to Section 200.065, Florida Statutes, in order for
the Board to receive public input on the tentative budget. At the end of the last public hearing, the
Board adopts resolutions, at the fund level, to approve the budgets for all governmental fund types. The
budgets legally adopted by the Board set forth the anticipated revenues by source and the
appropriations by function. Budgets for enterprise and internal service funds are adopted on a basis
consistent with generally accepted accounting principles. Computerized integrated budget reports are
used for management control purposes throughout the year. Management is authorized to transfer
budgeted amounts between cost centers and divisions in any fund as long as the total appropriations of
a fund are not exceeded. Board approval is required to appropriate reserves and to amend the budget
when unanticipated revenues are received that management wishes to have appropriated, thereby
increasing the total appropriations of a fund. Appropriations for the County lapse at the close of the
fiscal year.
Imperial Polk County is the geographical center of the State of Florida and has a population of 619,950
persons. With 2,010 square miles of area, Polk County is the largest county located north of the
Everglades. Polk County is known as the phosphate, water skiing and citrus capital of the world and is
home to some of the State’s leading corporations. The County enjoys an average of 263 sun-filled days
per year with a mean annual temperature of 73 degrees.
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Among Polk County’s assets are 554 lakes and the headwaters of six rivers. The County has some of
the best fishing, boating, golfing and tennis in the country. The educational opportunities in Polk County
are very accessible to the public including a major state university expansion in progress.
Polk County offers many services to its citizens including fire and police protection; emergency medical
services; construction and maintenance of street and traffic systems, highways, bridges and other
infrastructure; preservation and maintenance of lakes, parks and environmentally sensitive lands;
recreational facilities, programs and cultural activities; comprehensive planning and community
development; community information and education programs; health and human services; water and
wastewater utilities; solid waste collection and disposal facilities; stormwater utility facilities; and public
transportation activities.
LOCAL ECONOMY
Polk County has experienced an economic recession along with the rest of the nation in recent years.
Per capita income is lower and the unemployment rate is higher than the Florida or national average.
The largest employers by industry are education and healthcare, business services, government and
retail. Taxable values have increased 22.3 percent over the last ten years however, more recently the
values have declined 35.0 percent since 2008. Population increased 1.0 percent from prior year, but
has increased 16.2 percent over the last ten years.
Located in the center of the state, Polk County has emerged as one of Florida’s leading manufacturing
and distribution centers. Within a 100-mile radius of Polk County reside seven and one-half million
people – about one-half of the State’s population. Major corporations have for years taken advantage
of Polk County’s central location. Polk County is a major contributor of export-related sales, jobs, and
taxes. Although phosphate and citrus continue to be in the forefront in maintaining Polk’s economic
well-being, the County has experienced major diversification in the last five years. Products and
services ranging from plastic fish bait to computer software leave Polk County daily for worldwide
distribution. The County’s extensive transportation system of highway, rail, and nearby air and deep
water ports facilitate the rapidly expanding export base.
LONG-TERM FINANCIAL PLANNING
The citizens of Polk County have communicated to their elected officials that they want balanced
growth with quality employment opportunities. The County and its citizens realize that proactive steps
are needed in terms of transportation and other infrastructure, educational facilities and quality of life
essentials such as parks and libraries. The County has an initiative to “catch up” on deferred
improvements while taking measures to insure that growth pays for itself. The County prepares a
biennial budget and 5- year projections to enhance long term financial planning.
RELEVANT FINANCIAL POLICIES
The fund balance of the County’s total governmental funds decreased from the prior year amount of
$316.5 million to $297.9 million in fiscal year 2013, for a total decrease of $18.6. This decrease is
primarily attributable to reduced tax, grant, and investment income revenues, the net change in the fair
value of investments; and reduced, but continued, spending for capital and operations.
Having
reasonable levels of reserves is essential to the bond markets’ perceptions of local government
strength and related ability to utilize private sector styled business practices, and provides for the
availability to anticipate interest as a significant annual recurring revenue source.
Outstanding debt is continually monitored in relation to existing conditions in the debt market. When
sufficient cost savings can be realized, the debt will be refunded.
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Cash management policies and practice
In accordance with Section 218.415, Florida Statutes, the County adopted an investment policy that
guides the investment of County surplus funds. This policy establishes investment objectives, maturity
and liquidity requirements, portfolio composition, risk and diversification requirements, and authorized
investments. The primary objectives of investment activities are to preserve capital and maintain
sufficient liquidity to meet anticipated cash flow needs. The secondary objective is to obtain competitive
returns on the investment of County surplus funds. Surplus funds were invested in direct U.S.
government obligations, U.S. agency obligations, commercial deposit bank accounts, certificates of
deposit, money markets, the State Board of Administration and the Florida Local Government
Investment Trust Fund. During fiscal year 2013, the County’s investment portfolio reflected average
monthly yields ranging from .87 percent to 1.43 percent. The monthly average yield of the portfolio for
the month of September 2013 was 1.03 percent.
The following graph represents the total cash and investments for the fund type listed at the end of
each
fiscal year.
CASH AND INVESTMENTS
(In Millions)
$700
$600
$500
$400
$300
$200
$100
$0
2009
General Fund
2010
2011
Special Revenue
2012
Debt Service
2013
Capital Projects
Enterprise
Int Service
During the past fiscal year, Polk County, under the direction of the Clerk and County Comptroller,
maintained an average rate of return on the actively managed investment portfolio of 1.68 percent
compared to an average rate of return of 0.22 percent for the State Board of Administration (SBA). The
rate difference of 146 basis points is a result of the Clerk’s active management and diversification of the
portfolio. An overview of the County’s investment policy can be found in the notes to the financial
statements.
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Risk Management
The County is exposed to various risk of loss related to theft of, damage to and destruction of assets,
errors and omissions, injuries to employees and natural disasters. A self-insurance program is
effectively maintained by the County to administer insurance activities related to workers’ compensation
insurance, general and employment practices liability, auto liability and health. The County’s self insurance program covers operations of Board of County Commissioners and the constitutional
officers. Under the program, the County has retention limits for each type of claim, which is covered by
commercial insurance purchased by the County. Additional information regarding the self-insured
employee health plan can be found in Note 7. The County also maintains fully-insured policies with
several different carriers for property insurance with the total insured value for all properties estimated
at $762,000,000.
INITIATIVES
Each year, the Polk County Board of County Commissioners holds an annual retreat to discuss and
provide direction on key strategic issues. With fiscal year 2013 being the sixth consecutive year of
declining ad valorem (property tax) revenue, the Board has focused on being fiscally responsible in
balancing the budget, while still meeting the needs of the citizens. In addition to the direction from the
Board at the retreat, there are underlying citizen perspectives that are used to help guide the budget
process every year. As we move into fiscal year 2014, the local economy is improving, but the county
still faces short and long-term financial challenges that must be dealt with through a strategic planning
process.
Citizens’ input, a number of years ago, helped establish seven result areas that captured the citizens’
expectations from government. These result areas continue to help guide the budget and budget
process as we focus on providing the services that our citizens want. The following shows not only the
result areas, but also some accomplishments in fiscal year 2013:
Basic Needs – All Polk County residents who are at risk because of their health or economic status will
get their basic needs met so they can be as self-sufficient as possible. The County has:

coordinated approximately 83,000 health care services to 28,000 people.

obtained state and national recognition for an initiative to become a “Purple Heart” County in
support of the combat wounded veteran.

provided transit services to health care facilities for approximately 70,000 fixed route rides and
over 105,000 door-to-door trips for citizens who are disadvantaged, elderly, disabled, at-risk,
and/or low income.
Economic Development – Good paying jobs and business opportunities will be available here in Polk
County, and people will be appropriately trained and educated to take advantage of them. The County
has:

focused on tourism and sports generating more than $1.5 billion in economic impact for Polk
County.

provided an Ad Valorem Tax Exemption incentive for companies to locate or expand in Polk
County which, since implementation, has created 588 new jobs for citizens.
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Recreation and Cultural Arts – Polk County offers safe, plentiful and diverse recreation and cultural arts
opportunities. The County has:

provided recreational and cultural programs and events to an estimated 105,560 participating
citizens.

currently maintained 326 interior square feet per person of interior recreation space, 149 square
feet per person of interior cultural arts space, and 9 acres per 1,000 persons for outdoor
recreation.
Good Government – Citizens can trust that government is well run and is a good steward of their tax
dollars. The County has:

maintained the same county-wide millage rate as the prior five years during the fall of property
values and economic downturn.

continued to help citizens stay informed and involved with Polk County Government through
enhancements to online services, televised meetings and print communications.
Natural Resources and Environment – Polk County will have clean and plentiful natural resources for a
healthy environment. The County has:

treated over 644,000 acres for adult mosquitoes and over 1,900 acres for mosquito larvae.

provided over 14,000 acres of County environmental lands for recreational opportunities.
Growth/Infrastructure – Polk County will grow in a manner and pace that County residents find
desirable and allows them to move around the County safely and without excessive congestion. The
County has:

maintained over 2,500 miles of roads including mowing right of ways, grading unpaved roads,
cleaning drainage ditches, and providing other needed roadway repairs.

added 989 new water connections and 971 new wastewater connections which indicates that
the customer base is continuing to grow.
Safety – People will feel safe from crime, fire, and the effects of natural disasters. The County has:

decreased EMS and Fire response time by increasing staffing, heavy equipment and the
number of stations at strategic locations.

begun to implement a STEMI Alert protocol, which electronically will send an electrocardiogram
(EKG) of heart rhythms directly to hospitals to prepare the emergency staff in advance of the
patient’s arrival, saving valuable minutes
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PRINCIPAL OFFICIALS
SEPTEMBER 30, 2013
BOARD OF COUNTY COMMISSIONERS
Melony M. Bell, District 2
R. Todd Dantzler, District 4
George M. Lindsey III, District 1
Edwin V. Smith, District 3
John E. Hall, District 5
Chairman
Vice-Chairman
Member
Member
Member
CLERK OF THE CIRCUIT COURT
PROPERTY APPRAISER
Stacy M. Butterfield
Marsha Faux
SHERIFF
SUPERVISOR OF ELECTIONS
Grady Judd
Lori Edwards
TAX COLLECTOR
Joe G. Tedder
COUNTY MANAGER
Jim Freeman
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ORGANIZATIONAL CHART
SEPTEMBER 30, 2013
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FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT
Board of County Commissioners
Polk County, Florida
Bartow, Florida
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the businesstype activities, each major fund, and the aggregate remaining fund information of Polk County (the
“County”), as of and for the year ended September 30, 2013, and the related notes to the financial
statements, which collectively comprise the entity’s basic financial statements as listed in the table of
contents. We have also audited the financial statements of the North Ridge Community Redevelopment
Agency, Harden/Parkway Community Redevelopment Agency, Polk Commerce Centre Community
Redevelopment Agency, and the Eloise Community Redevelopment Agency (each CRA is a nonmajor
special revenue fund) which are presented in the accompanying combining and individual fund schedule
section as of and for the year ended September 30, 2013, as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors’ Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We did not
audit the financial statements of the Tax Collector, Polk County, Florida, which represents 3.05% and
5.10% respectively, of the assets and revenues of the general fund, and 0.08% and 2.73%
respectively, of assets and revenues of the governmental activities. Those statements were audited by
other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the
amounts included for Tax Collector, Polk County, Florida, is based solely on the report of the other
auditors. We conducted our audit in accordance with auditing standards generally accepted in the
United States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards require
that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An independent member of Nexia International
B-1
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluating the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinions.
Opinions
In our opinion, based on our audit and the report of the other auditors, the financial statements referred
to above present fairly, in all material respects, the respective financial position of the governmental
activities, the business-type activities, each major fund, the aggregate remaining fund information and
the North Ridge Community Redevelopment Agency, Harden/Parkway Community Redevelopment
Agency, Polk Commerce Centre Community Redevelopment Agency, and the Eloise Community
Redevelopment Agency (each CRA is a nonmajor special revenue fund) of the County as of September
30, 2013, and the respective changes in financial position and, where applicable, cash flows thereof,
and the respective budgetary comparison for the general fund for the year then ended in accordance
with accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that management’s
discussion and analysis and the schedule of funding progress – other postemployment benefits on
pages C-1 to C-15 and F-1 to F-2 be presented to supplement the basic financial statements. Such
information, although not a part of the basic financial statements, is required by the Governmental
Accounting Standards Board who considers it to be an essential part of financial reporting for placing
the basic financial statements in an appropriate operational, economic, or historical context. We have
applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an
opinion or provide any assurance on the information because the limited procedures do not provide us
with sufficient evidence to express an opinion or provide any assurance.
B-2
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that
collectively comprise the County’s basic financial statements and the financial statements of the North
Ridge Community Redevelopment Agency, Harden/Parkway Community Redevelopment Agency, Polk
Commerce Centre Community Redevelopment Agency, and the Eloise Community Redevelopment
Agency. The combining and individual fund schedules (with the exception of the North Ridge
Community Redevelopment Agency, Harden/Parkway Community Redevelopment Agency, Polk
Commerce Centre Community Redevelopment Agency, and the Eloise Community Redevelopment
Agency) and the Introductory and Statistical sections are presented for purposes of additional analysis
and are not a required part of the basic financial statements. The schedule of expenditures of federal
awards and state financial assistance is presented for purposes of additional analysis as required by
the U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and
Non-Profit Organizations and Chapter 10.550, Local Governmental Entity Audits, Rules of the Auditor
General of the State of Florida, and is also not a required part of the basic financial statements.
The combining and individual fund schedules (with the exception of the North Ridge Community
Redevelopment Agency, Harden/Parkway Community Redevelopment Agency, Polk Commerce Centre
Community Redevelopment Agency, and the Eloise Community Redevelopment Agency), and the
schedule of expenditures of federal awards and state financial assistance are the responsibility of
management and were derived from and relate directly to the underlying accounting and other records
used to prepare the basic financial statements. Such information has been subjected to the auditing
procedures applied in the audit of the basic financial statements and certain additional procedures,
including comparing and reconciling such information directly to the underlying accounting and other
records used to prepare the basic financial statements or to the basic financial statements themselves,
and other additional procedures in accordance with auditing standards generally accepted in the United
States of America. In our opinion, the information is fairly stated, in all material respects, in relation to
the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in
the audit of the basic financial statements, and accordingly, we do not express an opinion or provide
any assurance on it.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 26,
2014 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
internal control over financial reporting or on compliance. That report is an integral part of an audit
performed in accordance with Government Auditing Standards in considering the County’s internal
control over financial reporting and compliance.
CliftonLarsonAllen LLP
Lakeland, Florida
March 26, 2014
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Polk County’s discussion and analysis provides a narrative overview and easily readable analysis of
the County’s financial activities. The analysis provides summary financial information for the County
and should be read in conjunction with the transmittal letter and the County’s financial statements.
FINANCIAL HIGHLIGHTS
 Total net position decreased by $57.7 million during the current fiscal year included a decrease
of $57.2 million in the governmental activities and a $0.5 million decrease in business-type
activities.

The total assets of the primary government exceeded total liabilities (net position) by $3,951.7
million at 2013 fiscal year end compared to $4,009.3 million the prior year. Unrestricted net
position for governmental activities was $3.1 million in 2013 and $9.0 million in 2012. For
business-type activities, unrestricted net position was $103.1 million in 2013 and $87.8 million in
2012.

Polk County’s governmental funds combined ending fund balance was $297.9 million, a
decrease of $18.6 million from the prior year ending fund balances of $316.5 million. As of
September 30, 2013, $157.9 million of the fund balance was restricted and $36.1 was
unassigned in the various governmental fund types of the County.

At the end of the current fiscal year, unassigned fund balance for the general fund was $37.3
million.

Total long-term liabilities of Polk County decreased $0.7 million in fiscal year 2013. This
decrease is primarily attributable to a $13.8 million reduction in bonds and notes payable offset
by an increase of $10.2 million in other postemployment benefits as required by GASB
Statement No. 45, and a $2.7 million increase in the closure and long-term care liability.
OVERVIEW OF THE FINANCIAL STATEMENTS
The County’s basic financial statements comprise three components: 1) government-wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. This report also
contains the statistical section, single audit and other supplementary information in addition to the basic
financial statements themselves. The government-wide financial statements present an overall picture
of the County’s financial position and results of operations. The fund financial statements present
financial information for the County’s various funds. The notes to the financial statements provide
additional information that is not disclosed in the government-wide or fund financial statements.
The government-wide financial statements are the statement of net position and the statement of
activities. These statements use accounting methods similar to those used by private-sector
companies. Emphasis is placed on the net position of governmental activities and business-type
activities and the change in net position. Governmental activities are primarily supported by property
taxes, charges for services, fuel taxes, sales taxes, services taxes, and grants. Business-type activities
are supported by charges to the users of those activities, such as water and sewer service charges and
landfill tipping fees.
C-1
The government-wide financial statements include not only Polk County itself (known as the primary
government) but also legally separate component units for which Polk County is financially
accountable. These component units are detailed in the notes to the financial statements.
The statement of net position presents information on all assets and liabilities of the County, with the
difference between assets and liabilities reported as net position. Net position is reported in three
categories: 1) net investment in capital assets, 2) restricted, and 3) unrestricted. Assets, liabilities, and
net position are reported for all governmental activities separate from the assets, liabilities and net
position of business-type activities.
The statement of activities presents information on all revenues and expenses of the County and the
change in net position. Expenses are reported by major function and program revenues relating to
those functions are reported, providing the net cost of all functions of the County. To assist in
understanding the County’s operations, expenses have been reported as governmental activities or
business-type activities. Governmental activities financed by the County include general government,
public safety, physical environment, transportation, economic environment, human services, culture
and recreation and debt service. Business-type activities financed by user charges include water and
sewer services, solid waste disposal, and the Rohr nursing home facility.
Fund financial statements present financial information for governmental funds, proprietary funds, and
fiduciary funds. Governmental fund financial statements provide information on the current assets and
liabilities of the funds, changes in current financial resources (revenues and expenditures), and current
available resources. The proprietary funds financial statements provide information on all assets and
liabilities of the funds, changes in the economic resources (revenues and expenses), and total
economic resources. The fiduciary fund statement provides information concerning assets held in trust
by the County on behalf of others.
Fund financial statements include a balance sheet and a statement of revenues, expenditures, and
changes in fund balances – budget and actual for all governmental funds. For the proprietary funds,
which include internal service funds in addition to business-type activities, a statement of net position, a
statement of revenues, expenses, and changes in fund net position and a statement of cash flows are
presented. A statement of fiduciary assets and liabilities is presented for the County’s agency funds.
Fund financial statements provide more detailed information about the County’s activities. Individual
funds are established by the County to track revenues that are restricted to certain uses, comply with
legal requirements, or account for the use of state and federal grants.
The government-wide financial statements and the fund financial statements provide different pictures
of the County. The government-wide financial statements provide an overall picture of the County’s
financial standing, divided into governmental activities and business-type activities. These statements
are comparable to private-sector companies and give a good understanding of the County’s overall
financial health and how the County paid for the various activities, or functions, provided by the County.
Assets of the County, including buildings, land, roads, bridges, and traffic signals are reported in the
statement of net position. All liabilities, including principal outstanding on bonds and future employee
benefits obligated but not paid by the County, are included. The statement of activities includes
depreciation on all long lived assets of the County, but transactions between the different functions of
the County have been eliminated in order to avoid duplication of the revenues and expenses. The fund
financial statements provide a picture of the major funds of the County and all non-major funds. In the
case of governmental activities, outlays for long lived assets are reported as expenditures; long-term
liabilities, such as general obligation bonds, are not included in the fund financial statements.
C-2
A reconciliation has been included to provide a link from the fund financial statements to the
government-wide financial statements.
Notes to the financial statements provide additional detail concerning the financial activities and
financial balances of the County. Additional information about the accounting practices of the County,
investments of the County, capital assets, and long-term debt are some of the items included in the
notes to the financial statements.
The statistical section has been prepared in accordance with Governmental Accounting Standards
Board Statement No. 44. This section contains selected 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 and auditor
reports.
C-3
GOVERNMENT-WIDE FINANCIAL ANALYSIS
The following schedule provides a summary of assets, deferred outflows of resources, liabilities, and
net position of the County for fiscal years 2013 and 2012:
Net Position
September 30, 2013 and 2012
(in Millions)
Governmental Activities
2013
Current and Other Assets
$
404.0
Business-Type Activities
2012
$
424.7
2013
$
201.5
Total
2012
$
213.1
2013
$
605.5
2012
$
637.8
Capital Assets
3,534.0
3,579.6
479.4
466.7
4,013.4
4,046.3
Total Assets
3,938.0
4,004.3
680.9
679.8
4,618.9
4,684.1
Deferred outflows of resources
Other Liabilities
2.2
-
1.5
-
3.7
-
53.6
57.7
12.4
11.5
66.0
69.2
Long-Term Liabilities
388.1
390.9
216.8
214.7
604.9
605.6
Total Liabilities
441.7
448.6
229.2
226.2
670.9
674.8
3,343.1
3,380.5
330.5
320.1
3,673.6
3,700.6
152.3
166.2
19.6
45.7
171.9
211.9
3.1
9.0
103.1
87.8
106.2
96.8
$ 3,498.5
$ 3,555.7
453.6
$ 3,951.7
$ 4,009.3
Net Investment in
Capital Assets
Restricted
Unrestricted
Total Net Position
$
453.2
$
Polk County’s net investment in capital assets, such as land, roads, parks, buildings, machinery and
equipment as a percentage of net position represents 93.0 percent and 92.3 percent at year end 2013
and 2012, respectively. These asset values are presented less any outstanding debt related to the
acquisition and including accumulated depreciation of those assets. The County uses capital assets to
provide services to the citizens. Consequently, these assets are not available for future spending.
Although the investment in capital assets is reported net of related debt, the capital assets themselves
cannot be used to liquidate that liability and, therefore, other resources will be needed to repay any
associated debt.
The County’s unrestricted net position increased $9.4 million and restricted net position decreased
$40.0 million for fiscal year 2013. Unrestricted net position represents County resources that may be
used to meet the County’s ongoing obligations to citizens and creditors while restricted net position
represents resources subject to external restrictions.
C-4
The schedule below provides a summary of the changes in net position for fiscal years 2013 and 2012.
Change in Net Position
Years Ended September 30, 2013 and 2012
(in Millions)
Governmental Activities Business-Type Activities
2013
2012
2013
2012
REVENUES
Program Revenues:
Charges for Services
Operating Grants and Contributions
Capital Grants and Contributions
General Revenues:
Property Taxes
Fuel Tax
Sales Tax
Services Tax
Other Taxes
State Shared Revenues
Investment Earnings
Net Change in Fair Value of Investments
Gain (Loss) on Sale of Capital Assets
Miscellaneous
Transfers
Total Revenues
$
112.1
32.3
8.2
$
108.4
30.0
12.3
$
97.0
0.2
1.0
$
90.6
1.3
0.2
Total Government
2013
2012
$
209.1
32.5
9.2
$
199.0
31.3
12.5
164.5
28.0
61.7
39.7
9.8
11.6
2.3
(5.8)
0.9
6.7
15.4
487.4
173.3
28.1
58.7
39.6
9.1
11.0
5.7
0.7
5.6
482.5
1.5
(4.1)
6.6
(15.4)
86.8
2.9
0.4
3.5
98.9
164.5
28.0
61.7
39.7
9.8
11.6
3.8
(9.9)
0.9
13.3
574.2
173.3
28.1
58.7
39.6
9.1
11.0
8.6
1.1
9.1
581.4
EXPENSES
General Government
Public Safety
Physical Environment
Transportation
Economic Environment
Human Services
Culture/Recreation
Interest on Long-Term Debt
Water and Sewer
Garbage Collection/Disposal
Other
Total Expenses
103.6
214.6
7.2
131.8
19.0
45.3
13.5
9.6
544.6
105.0
206.0
7.2
126.9
17.1
51.9
13.9
9.1
537.1
50.8
31.2
5.3
87.3
50.7
27.9
5.6
84.2
103.6
214.6
7.2
131.8
19.0
45.3
13.5
9.6
50.8
31.2
5.3
631.9
105.0
206.0
7.2
126.9
17.1
51.9
13.9
9.1
50.7
27.9
5.6
621.3
CHANGE IN NET POSITION
(57.2)
(54.6)
(0.4)
14.7
(57.6)
(39.9)
Net Position - Beginning of Year,
NET POSITION - ENDING
3,555.7
3,610.3
$ 3,498.5
$ 3,555.7
453.6
$
453.2
$
438.9
4,009.3
4,049.2
453.6
$ 3,951.7
$ 4,009.3
Certain prior year reported balances have been reclassified to conform to current year presentation.
C-5
The following chart depicts revenues of the governmental activities for the fiscal year, excluding
transfers and net change in fair market value of investments.
Revenues-Governmental Activities
Fiscal Year Ended September 30, 2013
C-6
The following chart depicts governmental activities expenses compared to program revenues
(excluding capital grants), which funded those activities for the fiscal year; the amounts not funded by
program revenues were funded by general revenues (e.g., property taxes, etc.).
C-7
Governmental Activities: Governmental activities resulted in a $57.2 million decrease in net position
as the result of current fiscal year activities.

Overall, revenues related to governmental activities increased $4.9 million or 1.0 percent.

Property tax revenues decreased $8.8 million or 5.1 percent as a result of the economic
recession and its impact on property values.

Charges for services increased $3.7 million or 3.4 percent due to an increase in ambulance
fees, a change in legislation related to Clerk funding, an increase related to law enforcement
services provided to municipalities, and a slight increase in building permit revenue.

Sales tax revenues increased $3.0 million due to an improving economy.

The net change in fair value of investments decreased $6.5 million and investment earnings
decreased $3.4 million due to market conditions.

Net transfers to governmental activities from the business-type activities increased by $15.4
million as a result of a transfer from the Waste Resource Management Fund to the General
Fund for nonrecurring expenses, including the State of Florida’s back billing of Medicaid.

In total, expenses in governmental activities increased $7.5 million or 1.4 percent.

Depreciation expense increased $1.6 million or 1.7 percent.

Approximately $2.5 million of the increase in Public Safety expenses is attributable to an
increase in the Sheriff’s operating expense for law enforcement and detention services.

Transportation expenses increased $4.9 million primarily due to the first year of a three year
County funding of a road project related to an interlocal agreement.

Human Services expenses in the Indigent Health Care Fund decreased $2.6 million due to
reduced claim expenses.

An increase in net income of the Employee Health Insurance Fund allocated to governmental
activities resulted in a $4.6 million reduction in expenses.
C-8
The following chart depicts revenues of the business-type activities for the fiscal year, excluding
transfers and net change in fair market value of investments.
The following chart depicts business-type activities expenses compared to revenues.
C-9
Business-Type Activities: Business-type activities resulted in a 0.4 million decrease in net position
for the fiscal year.

Overall, revenues for business-type activities decreased by $12.1 million or 12.2 percent largely
due to a $15.4 million transfer from the Waste Resource Management Fund to the General
Fund for one time projects, including the back billing of Medicaid.
 The net change in fair value of investments decreased $4.5 million and investment earnings
decreased $1.4 million due to market conditions.

Charges for services increased $6.4 million or 7.1 percent due to increased Utility rates, and
increased landfill volumes.

Miscellaneous revenues increased by $3.1 million or 88.6 percent due to a $1.5 million
reimbursement for Waste Resource Management operational expenses.

Miscellaneous revenues also increased for Utilities due to a $0.3 million dollar reimbursement
for aquifer storage, and a $0.7 million claim settlement for equipment failure.

In total, expenses in business-type activities increased $3.1 million or 3.7 percent primarily due
to an increase in landfill closure and long term care expense of $2.7 million.
C-10
FINANCIAL ANALYSIS OF FUNDS
Fund accounting is used to demonstrate and insure compliance with finance-related legal
requirements.
Governmental Funds
Governmental funds provide information on near-term inflows, outflows, and balances of spendable
resources. In assessing Polk County’s financing requirements, unassigned fund balance is a
particularly useful measure of net resources available for spending at the end of the fiscal year. The
County’s governmental fund types include the general, special revenue, debt service and capital project
funds.
Polk County’s governmental funds combined fund balance was $297.9 million in 2013 as compared to
$316.5 million in 2012. These fund balances reflect a decrease of $18.6 million and $38.5 million for
2013 and 2012, respectively.
Major Funds Information
(in Millions)
General
Fiscal Year 2013:
Revenues
Expenditures
Transfers in
Transfers out
Net Change in Fund Balances
$
$
Fiscal Year 2012:
Revenues
Expenditures
Transfers in
Transfers out
Net Change in Fund Balances
$
$
260.8
(265.0)
15.7
(7.1)
4.4
255.3
(257.8)
0.5
(7.5)
(9.5)
General Fund
The County’s General Fund is the main operating fund of the County. It is used to account for financial
resources that are not restricted by State or Federal laws, County ordinances, or other externally
imposed requirements. As of September 30, 2013, total assets were $106.8 million and total liabilities
were $39.0 million. Revenues increased 2.2 percent and expenditures increased 2.8 percent from fiscal
year 2012 to 2013. These increases, when combined with net transfers in of $8.6 million, resulted in a
increase in fund balance to $67.8 million as of September 30, 2013, compared to $63.4 million in the
prior year.
C-11
Proprietary Funds
Proprietary fund statements provide the same information as in the business-type activities column of
the government-wide statements, but in greater detail, and on a fund basis for enterprise funds and
internal service funds.
Enterprise Funds
At September 30, 2013, total net position amounted to $454.9 million for enterprise funds as compared
to $455.9 at September 30, 2012, a decrease of $1.0 million. Changes in net position are the result of
increased user fees, changes in volumes, operations, other non-operating revenues and expenses,
capital contributions and grants.
Income from operations is the result of operational revenues less operational expenses. The Utilities
Fund had operating income of $15.2 million for fiscal year 2013 which was $7.5 million higher than the
$7.7 million operating income for fiscal year 2012 primarily due to an increase in operating revenue as
a result water rate increases of 5.0 percent.
Operating income for the Waste Resource Management Fund was $8.7 million in 2013 and $6.0 million
in 2012. The increase in operating income in fiscal year 2013 is a result of increased landfill volumes
and a reimbursement in the amount of $1.5 million for operating expenses. Offsetting these increases
was an increase in the landfill closure and long term liability expense of $2.7 million.
Operations of the Rohr Home Fund (nonmajor enterprise fund) resulted in an operating income of
$80,711 in fiscal year 2013 compared to an operating loss of $71,970 for fiscal year 2012 due to a
decrease in operating expenses.
Internal Service Funds
Internal service funds are designed to recover the costs of general services provided to the other fund
groups. The Fleet Fund operations resulted in an operating income for fiscal year 2013 of $0.2 million
compared to a loss of $0.6 million in fiscal year 2012. The Employee Health Insurance Fund operating
income for fiscal year 2013 was $8.1 million compared to an operating income of $2.3 million in prior
year due to a decrease in claims. The County continues to review insurance needs as well as cost
containment. The Information Technology Fund had an operating loss of $0.7 million in fiscal year
2013 and $.03 million in 2012.
C-12
GENERAL FUND BUDGETARY HIGHLIGHTS
The General Fund budget to actual statement is presented in the Basic Financial Statements. The
variances between the original and final budget amounts are primarily due to the appropriation of
charges for services for interlocal agreements with municipalities for providing law enforcement
services.
The actual net change in the fund balance of the General Fund compared to the final budget was a
positive variance of $25.8 million. General Fund revenues were $3.9 million more than the final budget
amounts. The most significant area of revenue overages was in the area of intergovernmental
revenues. Revenues were budgeted at 95.0 percent of the anticipated amount as required by State
Statute. Furthermore, actual expenditures in the General Fund functional areas were $18.3 million less
than the final budget. Unspent appropriations represent 6.5 percent of the total expenditure budget.
CAPITAL ASSETS ACTIVITY
At year end, the County had $4,013.4 million (net of accumulated depreciation) invested in a variety of
capital assets, as reflected in the following schedule. The net decrease (additions, deletions, and
depreciation/amortization) of $32.9 million from the end of last year is primarily due to the fiscal year
2013 additions to accumulated depreciation offset by improvements to transportation infrastructure and
improvements, right of way acquisition and expansion of the County’s utility systems. For additional
detail see Note 6 in the notes to the financial statements.
CAPITAL ASSETS, NET OF DEPRECIATION/AMORTIZATION
(in Millions)
2013
2012
Land and Right-of-Way
Infrastructure
Building and Improvements
Equipment
Intangibles
Construction in Progress
Total
$
$
930.3
2,211.2
283.9
56.6
6.1
46.0
3,534.1
$
$
2013
2012
930.6
2,170.3
277.2
53.6
7.4
140.5
3,579.6
$
$
C-13
13.9
353.3
1.3
0.8
110.0
479.3
$
$
14.2
359.0
1.3
0.6
91.6
466.7
Total
2013
$
944.2
2,211.2
637.2
57.9
6.9
156.0
$ 4,013.4
2012
$
944.8
2,170.3
636.2
54.9
8.0
232.1
$ 4,046.3
DEBT MANAGEMENT
At September 30, 2013, the County had $604.9 million in long-term liabilities outstanding compared to
the $605.6 million last year. For additional detail see Note 8 in the notes to the financial statements.
(in Millions)
2013
2012
Bonds Payable
Interlocal Agreements
Accrued Liabilities
Notes Payable
Contracts Payable
Closure and Long-Term Care
Compensated Absences
Postemployment Benefits
Self-Insurance Liability
Other Long-Term Liabilities
Total
$
$
190.9
9.1
0.3
22.6
146.7
18.5
388.1
$
$
196.4
9.0
7.2
23.4
136.9
18.0
390.9
2013
2012
$
$
148.9
0.1
53.7
1.0
10.4
2.7
216.8
$
$
150.0
0.1
51.0
1.0
10.0
2.6
214.7
Total
2013
$
$
339.8
9.1
0.3
0.1
53.7
23.6
157.1
18.5
2.7
604.9
2012
$
$
346.4
9.0
7.2
0.1
51.0
24.4
146.9
18.0
2.6
605.6
Bonds payable decreased $6.6 million from the prior year due to principal payments. All of Polk
County’s bonded debt represents bonds secured solely by specified revenue sources. Notes payable
decreased $7.2 million due to an early principal pay down of $6.0 million in the Florida Local
Government Finance Commission Commercial Paper Program.
The County’s compliance with GASB Statement No. 45, Accounting and Financial Reporting by
Employers for Postemployment Benefits Other than Pensions in the current year resulted in an
increase of $10.2 million for fiscal year 2013 and the closure and long term care liability increased by
$2.7 million.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES
 Polk County’s average unemployment rate in 2013 was 8.0 percent compared to 9.7 percent in
2012. In contrast, the statewide and national annual averages for 2013 were 6.9 percent and
7.2 percent, respectively. However, more recently, Polk County’s unemployment rate was 6.8
percent in December 2013. The State unemployment rate for December 2013 was 5.9 percent
and the national rate was 6.7 percent.

Polk County’s (South Region) August 2013 inflation rate, according to the Central Florida
Development Council, was 1.8 percent. Additionally, the Florida Consumer Confidence Index
has been relatively stable and remains at its highest level in five years.
C-14

The fiscal year 2014 budget totals $1.26 billion for all funds, which is approximately a 3.6%
reduction from the fiscal year 2013 adopted budget. This reduction is primarily attributable to
the spending down of reserves set aside in previous years for capital projects and a
conservative approach to spending.

Countywide property values increased 3.64 percent the first increase since fiscal year 2008.
While this is good news, the fiscal year 2014 taxable value only brings the county back to fiscal
year 2006 levels. Keeping the same countywide millage rate will add approximately $4.5 million
in operating revenue to the General Fund in fiscal year 2014. However, the major decline in
General Fund revenues over the past several years has created significant challenges that must
be addressed. Among the most significant is the continuing struggle with the General Fund
recurring revenue to expenditure deficit; this year that deficit is approximately $9.5 million.

The additional ad valorem revenue of $4.5 million is a crucial component to balance the budget.
This enables us to reduce the $9.5 million recurring revenue to recurring expenditure deficit by
$2.2 million to $7.3 million in the fiscal year 2014 budget.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of Polk County’s finances and was
prepared by the Finance & Accounting Department of the Clerk of the Circuit Court in his capacity as
Clerk, Accountant, and Auditor to the Board of County Commissioners. Requests for additional
information should be addressed to the above department at P. O. Box 988, Bartow, Florida, 33831, or
by accessing the website http://www.polkcountyclerk.net.
C-15
STATEMENT OF NET POSITION
SEPTEMBER 30, 2013
Governmental
Business-Type
Activities
Activities
Total
ASSETS
Cash and Investments
$
Cash with Fiscal Agent
Restricted Cash and Investments
Accounts Receivable - Net
362,589,570
$ 114,399,071
150,000
-
$
476,988,641
150,000
-
77,482,447
77,482,447
28,433,899
20,763,666
7,670,233
Special Assessments Receivable
122,669
-
122,669
Interest Receivable
671,658
387,256
1,058,914
16,857,542
466,772
17,324,314
Due from Other Governments
Internal Balances
509,827
Inventory
907,445
1,311,770
2,219,215
1,389,096
268,531
1,657,627
976,222,519
123,922,194
1,100,144,713
Other Assets
(509,827)
-
Capital Assets Not Being
Depreciated/Amortized
Capital Assets Net of Accumulated
Depreciation/Amortization
Total assets
2,557,818,871
355,448,801
2,913,267,672
3,938,002,863
680,847,248
4,618,850,111
2,262,635
1,530,110
3,792,745
2,262,635
1,530,110
3,792,745
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charges on Debt Refundings
Total Deferred Outflows of Resources
See accompanying Notes to Financial Statements.
D-1
STATEMENT OF NET POSITION (CONTINUED)
SEPTEMBER 30, 2013
Governmental
Business-Type
Activities
Activities
Total
LIABILITIES
Vouchers Payable
$
Accrued Liabilities
Accrued Interest Payable
Customer Deposits and Other Liabilities Payable from Restricted Assets
22,872,162
$
6,226,011
$
29,098,173
12,471,665
1,836,279
2,769,549
-
14,307,944
2,769,549
-
4,351,176
4,351,176
Other Deposits
4,320,879
-
4,320,879
Due to Other Governments
3,955,433
42,406
3,997,839
Unearned Revenue
4,697,960
-
4,697,960
Claims Payable
2,564,000
-
2,564,000
Noncurrent Liabilities:
Due within One Year
Due in More than One Year
Total Liabilities
33,952,201
3,623,993
37,576,194
354,125,467
213,137,659
567,263,126
441,729,316
229,217,524
670,946,840
3,343,123,129
330,488,480
3,673,611,609
NET POSITION
Net Investment in Capital Assets
Restricted for:
Court Fund and Records Modernization
Public Safety
Transportation
4,071,728
-
4,071,728
10,728,764
-
10,728,764
1,568,499
-
1,568,499
23,987,719
-
23,987,719
3,195,925
-
3,195,925
Human Services
62,210,822
-
62,210,822
Culture and Recreation
17,256,924
-
17,256,924
9,451,663
9,500,057
18,951,720
19,847,926
3,093,083
9,051,695
1,000,000
103,119,602
19,847,926
9,051,695
1,000,000
106,212,685
3,498,536,182
$ 453,159,834
$ 3,951,696,016
Debt Service
Capital Projects
Landfill Closure and Long-Term Care
Renewal, Replacement & Improvements
Unrestricted
Total Net Position
$
D-2
STATEMENT OF ACTIVITIES
Program Revenues
Expenses
Functions/Programs
Governmental Activities:
General Government
Public Safety
Transportation
Human Services
Debt Service:
Interest on Long-Term Debt
Total Governmental
Activities
Business-Type Activities:
Water and Sewer
Nursing Home
Total Business-Type
Activities
Total Primary Government
$
$
103,605,266
214,611,466
7,225,524
131,794,835
19,017,660
45,313,412
13,541,668
$
Capital
Grants and
Contributions
Operating
Grants and
Contributions
Charges
for Services
33,631,443
68,330,068
2,504,693
4,415,322
280,575
2,325,203
613,564
$
109,407
4,306,846
585,213
8,365,984
12,942,558
5,751,764
272,173
$
303,979
7,786,685
89,162
9,563,343
-
-
-
544,673,174
112,100,868
32,333,945
8,179,826
50,774,356
31,204,164
5,345,517
54,360,685
37,195,482
5,458,664
192,892
-
1,046,001
-
87,324,037
97,014,831
192,892
1,046,001
631,997,211
$
209,115,699
$
32,526,837
$
GENERAL REVENUES
Taxes:
Property Taxes
Fuel Taxes
Sales Tax
Services Taxes
Other Taxes
State Shared Revenues, Unrestricted
Investment Earnings
Gain (Loss) on Sale of Capital Assets
Miscellaneous
Transfers
Total General Revenues and Transfers
Net Position - Beginning
Net Position - Ending
D-3
9,225,827
Net (Expense) Revenue and Changes in Net Position
Governmental
Activities
$
Business-Type
Activities
(69,864,416)
(141,974,552)
(3,831,639)
(111,226,844)
(5,794,527)
(37,236,445)
(12,566,769)
$
-
$
(69,864,416)
(141,974,552)
(3,831,639)
(111,226,844)
(5,794,527)
(37,236,445)
(12,566,769)
(9,563,343)
-
(9,563,343)
(392,058,535)
-
(392,058,535)
-
4,825,222
5,991,318
113,147
4,825,222
5,991,318
113,147
-
10,929,687
10,929,687
(392,058,535)
10,929,687
(381,128,848)
164,522,102
28,024,723
61,694,047
39,737,835
9,756,263
11,599,248
2,254,483
(5,775,806)
937,258
6,678,881
15,427,863
334,856,897
1,479,586
(4,052,963)
6,610,890
(15,427,863)
(11,390,350)
164,522,102
28,024,723
61,694,047
39,737,835
9,756,263
11,599,248
3,734,069
(9,828,769)
937,258
13,289,771
323,466,547
(57,201,638)
(460,663)
(57,662,301)
3,555,737,820
$
Total
3,498,536,182
453,620,497
$
453,159,834
4,009,358,317
$
3,951,696,016
D-4
GOVERNMENTAL FUNDS
BALANCE SHEET
SEPTEMBER 30, 2013
Nonmajor
Governmental
Funds
General
ASSETS
Cash with Fiscal Agent
Accounts Receivable
Interest Receivable
Special Assessments Receivable
Due from Other Funds
Advances to Other Funds
Inventory, at Cost
Other Assets
Total Assets
LIABILITIES, DEFERRED INFLOWS AND FUND BALANCES
Liabilities:
Vouchers Payable
Accrued Liabilities
Customer Deposits
Due to Other Funds
Advances from Other Funds
Unearned Revenue
Total Liabilities
$
$
$
Deferred Inflows:
Unavailable Revenue
Fund Balances:
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities, Deferred Inflows and Fund Balances
78,072,802
150,000
19,696,063
221,727
122,669
4,313,219
2,182,509
1,278,101
218,329
525,845
106,781,264
$
10,701,796
8,375,570
1,519,446
2,269,174
64,564
22,930,550
$
$
16,042,682
$
D-5
1,973,966
3,855,045
1,573,131
23,075,160
37,330,730
67,808,032
106,781,264
Total
Governmental
Funds
245,985,413
336,118
386,653
12,544,323
108,891
259,361,398
$
11,376,052
3,884,467
2,801,433
1,686,259
2,182,509
2,533,384
4,825,663
29,289,767
$
$
-
$
154,060,530
56,047,382
21,241,820
(1,278,101)
230,071,631
259,361,398
324,058,215
150,000
20,032,181
608,380
122,669
16,857,542
2,182,509
1,278,101
218,329
634,736
366,142,662
22,077,848
12,260,037
4,320,879
3,955,433
2,182,509
2,533,384
4,890,227
52,220,317
16,042,682
$
1,973,966
157,915,575
57,620,513
44,316,980
36,052,629
297,879,663
366,142,662
GOVERNMENTAL FUNDS
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET
TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2013
Total Fund Balances - Total Governmental Funds
$
297,879,663
Amounts reported for governmental activities in the statement of net position are different
because:
Capital assets used in governmental activities are not financial resources and, therefore,
are not reported in the funds:
Nondepreciable Capital Assets
Depreciable Capital Assets
Internal Service Capital Assets
976,222,519
2,557,818,871
(28,496,490)
3,505,544,900
Ambulance receivables and unavailable interest receivables are not financial resources in
the current period and, therefore, are reported as deferred inflows.
16,435,446
Other long-term assets are not available to pay for current period expenditures, and
therefore, are expensed in future periods. This item includes unamortized bond
insurance.
726,350
Deferred charges on debt refundings
2,262,635
Long-term liabilities, including bonds payable, capital leases, and accrued compensated
absences are not due and payable in the current period and, therefore, are not reported in
the funds.
Bonds Payable, net of premiums (amortized as interest expense)
Other Postemployment Benefits Payable
Long-term Accrued Liabilities
Self-insurance Claims Payable
Accrued Compensated Absences
(190,918,261)
(9,136,538)
(143,508,765)
(300,000)
(18,520,000)
(21,979,625)
(384,363,189)
Accrued general long-term debt interest expenses are not financial uses and therefore,
are not reported in the funds.
(2,769,549)
Internal service funds are used by management to charge the costs of certain activities,
such as employee health insurance, information technology support and fleet
management to individual funds. The assets and liabilities of the internal service funds
are included in governmental activities in the statement of net position.
61,054,816
Adjustment to reflect the consolidation of internal service fund activities related to
enterprise funds.
Net Position of Governmental Activities
1,765,110
$
D-6
3,498,536,182
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
Nonmajor
Governmental
Funds
General
REVENUES
Taxes
Licenses and Permits
Intergovernmental
Fines and Forfeitures
Special Assessments
Interest Income
Miscellaneous Revenue
Total Revenues
$
155,505,815
1,843,238
45,394,600
49,244,724
1,646,717
136,079
721,037
(1,248,137)
7,498,384
260,742,457
EXPENDITURES
Current:
General Government
Public Safety
Transportation
Human Services
Debt Service:
Principal Retirement
Interest and Fiscal Charges
Capital Projects
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER EXPENDITURES
OTHER FINANCING SOURCES (USES)
Transfers in
Transfers (out)
Proceeds from the Sale of Capital Assets
Total Other Financing
Sources (Uses)
NET CHANGE IN FUND BALANCES
Fund Balances - Beginning of Year
FUND BALANCES - END OF YEAR
$
108,827,126
3,919,944
54,756,716
6,477,474
1,677,622
32,850,675
2,088,339
(4,527,669)
10,928,674
216,998,901
$
264,332,941
5,763,182
100,151,316
55,722,198
3,324,339
32,986,754
2,809,376
(5,775,806)
18,427,058
477,741,358
87,717,621
164,090,114
6,184,297
381,143
933,117
5,207,382
516,428
13,643,870
45,399,773
1,414,741
76,187,190
18,078,973
40,514,190
16,436,912
101,361,491
209,489,887
7,599,038
76,568,333
19,012,090
45,721,572
16,953,340
3,946
265,034,048
15,890,773
8,945,580
10,424,900
246,936,902
15,890,773
8,949,526
10,424,900
511,970,950
(4,291,591)
(29,938,001)
(34,229,592)
15,697,986
(7,131,880)
164,515
17,542,258
(10,680,501)
-
33,240,244
(17,812,381)
164,515
8,730,621
6,861,757
15,592,378
4,439,030
(23,076,244)
(18,637,214)
63,369,002
253,147,875
316,516,877
67,808,032
D-7
$
Total
Governmental
Funds
$
230,071,631
$
297,879,663
GOVERNMENTAL FUNDS
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES
Net Change in Fund Balances - Total Governmental Funds
$
(18,637,214)
Amounts reported for governmental activities in the statement of activities are different
because:
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 as
depreciation/amortization expense. This is the amount by which depreciation expense is
more than capital outlay in the current period.
Reduction in Capital Expenditures (excluding internal service)
Net Book Value of Disposed Capital Assets (excluding internal service)
Depreciation Expense (excluding internal service)
$
43,654,310
(286,707)
(93,027,820)
(49,660,217)
The issuance of long-term debt provides current financial resources to governmental
funds, while the repayment of the principal of long-term debt consumes the current
financial resources of governmental funds. Neither transaction, however, has any effect
on net position. Also, governmental funds report the effect of premiums, discounts, and
similar items when debt is first issued, whereas these amounts are deferred and
amortized in the statement of activities.
Issuance of Interlocal Agreements
Principal Payments - Bonds Payable
Principal Payments - Interlocal Agreements
Principal Payments - Notes Payable
(1,473,875)
7,585,000
1,322,450
7,188,236
14,621,811
Some expenses, such as expenses related to accrued compensated absences, accrued
interest expense, self insurance liabilities, postemployment healthcare benefits
obligations, and other accrued liabilities are reported in the statement of activities and do
not require the use of current financial resources and therefore are not reported as
expenditures in governmental funds.
Accrued Liabilities
Amortization Expense
Self Insurance
Interest Expense
Other Postemployment Benefits
763,900
(300,000)
(1,366,795)
(500,000)
748,268
(9,594,333)
(10,248,960)
Governmental funds record unavailable ambulance receivables and unavailable accrued
interest receivable as deferred inflows. However, on the government-wide financial
statements these are recorded as revenue.
(760,540)
Internal service funds are used by management to charge the costs of insurance,
information technology support and fleet management to individual funds. The net
revenue of certain activities of internal service funds is reported with governmental
activities.
Change in Net Position of Governmental Activities
7,483,482
$
D-8
(57,201,638)
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET (GAAP BASIS) AND ACTUAL
Variance with
Final Budget
Budget
Original
Final
Positive
(Negative)
Actual
REVENUES
Taxes
$
159,047,127
$
159,047,127
$
155,505,815
$
(3,541,312)
1,717,891
1,717,891
1,843,238
125,347
Intergovernmental
38,047,245
38,047,245
45,394,600
7,347,355
2,385,492
37,144,896
46,859,232
49,244,724
1,336,370
1,848,098
1,646,717
Special Assessments
298,981
298,981
136,079
(162,902)
1,131,796
1,131,796
721,037
(410,759)
-
-
Interest Income
Total Revenues
(201,381)
(1,248,137)
(1,248,137)
6,492,637
7,907,839
7,498,384
245,216,943
256,858,209
260,742,457
3,884,248
(409,455)
EXPENDITURES
Current:
General Government
92,667,593
96,214,594
87,717,621
8,496,973
155,841,527
169,767,912
164,090,114
5,677,798
8,416,672
8,101,916
6,184,297
1,917,619
381,973
381,973
381,143
830
1,849,760
1,849,760
933,117
916,643
Human Services
6,244,328
6,373,685
5,207,382
1,166,303
676,634
676,634
516,428
160,206
Public Safety
Transportation
Debt Service:
Total Expenditures
-
3,947
3,946
1
266,078,487
283,370,421
265,034,048
18,336,373
(20,861,544)
(26,512,212)
(4,291,591)
22,220,621
16,913,144
17,241,212
15,697,986
(1,543,226)
(12,068,904)
(12,068,904)
(7,131,880)
4,937,024
OVER EXPENDITURES
Transfers in
Transfers (out)
-
-
164,515
164,515
Sources (Uses)
4,844,240
5,172,308
8,730,621
3,558,313
NET CHANGE IN FUND BALANCE
(16,017,304)
(21,339,904)
4,439,030
25,778,934
63,369,002
63,369,002
63,369,002
-
Fund Balance - Beginning of Year
FUND BALANCE - END OF YEAR
$
47,351,698
D-9
$
42,029,098
$
67,808,032
$
25,778,934
PROPRIETARY FUNDS
STATEMENT OF FUND NET POSITION
SEPTEMBER 30, 2013
Business-Type Activities - Enterprise Funds
Rohr Nursing
Home
Waste Resource
(Nonmajor
Management
Fund)
Utilities
Governmental
Activities Internal
Service
Funds
Total
ASSETS
CURRENT ASSETS
Accounts Receivable
Allowance for Uncollectible Accounts
Interest Receivable
Inventory, at Cost
Other Assets
Total Current Assets
NONCURRENT ASSETS
Restricted Interest Receivable
Unamortized Bond Issue Costs
Advances to Other Funds
Capital Assets:
Land, including Land under a
Capital Lease and Improvements
Buildings, Utility Plants and Improvements
Equipment, including Equipment
under Capital Leases
Infrastructure
Intangible Assets
Less: Accumulated Depreciation/Amortization
Total Capital Assets (Net of
Accumulated Depreciation/Amortization
Total Noncurrent Assets
Total Assets
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charges on Debt Refundings
Total Deferred Outflows of Resources
$
34,508,423
4,095,020
9,637,610
(3,217,777)
121,502
1,311,770
268,531
46,725,079
$
77,993,612
256,156
1,443,515
(100,000)
149,965
79,743,248
$
1,897,036
170,774
(263,889)
3,521
466,772
2,274,214
$
114,399,071
4,351,176
11,251,899
(3,581,666)
274,988
466,772
1,311,770
268,531
128,742,541
$
38,531,355
731,485
63,278
689,116
28,010
40,043,244
10,500,057
-
62,631,214
112,268
1,255,283
-
73,131,271
112,268
1,255,283
-
8,713,973
430,817,160
5,158,301
66,567,604
56,410
2,776,008
13,928,684
500,160,772
5,269,702
1,992,593
816,649
104,800,570
(102,391,414)
2,094,768
82,833
5,088,141
(46,852,196)
4,359,239
82,833
816,649
109,993,510
(149,970,692)
80,155,843
6,386,333
(63,315,388)
444,749,531
455,249,588
32,139,451
96,138,216
2,482,013
2,482,013
479,370,995
553,869,817
28,496,490
28,496,490
501,974,667
175,881,464
4,756,227
682,612,358
68,539,734
1,530,110
1,530,110
-
-
1,530,110
1,530,110
-
D-10
271,878
104,799
(727,082)
Rohr Nursing
Home
Waste Resource
(Nonmajor
Management
Fund)
Utilities
Governmental
Activities Internal
Service
Funds
Total
LIABILITIES
CURRENT LIABILITIES, Payable from
Current Assets
Vouchers Payable
Accrued Liabilities
Unearned Revenue
Accrued Compensated Absences, Current Portion
Revenue Bonds Payable, Current Portion
Claims Payable
Total Current Liabilities, Payable
from Current Assets
$
CURRENT LIABILITIES, Payable from
Restricted Assets
Vouchers Payable
Accrued Liabilities
Customer Deposits
Total Current Liabilities, Payable
from Restricted Assets
Total Current Liabilities
NONCURRENT LIABILITIES
Contracts Payable
Revenue Bonds Payable (Net of
Unamortized Premiums)
Other Noncurrent Liabilities
Total Noncurrent Liabilities
Total Liabilities
4,154,470
348,289
42,406
82,770
3,424,345
-
$
1,913,640
1,418,431
23,080
-
$
157,901
69,559
93,798
-
$
6,226,011
1,836,279
42,406
199,648
3,424,345
-
$
794,314
211,628
201,261
95,193
2,564,000
8,052,280
3,355,151
321,258
11,728,689
3,866,396
4,095,020
14,388
2,159
239,609
-
14,388
2,159
4,334,629
-
4,095,020
12,147,300
256,156
3,611,307
321,258
4,351,176
16,079,865
3,866,396
613,241
71,842
170,999
53,691,787
-
12,660
-
796,900
53,691,787
71,842
473,457
-
145,458,170
6,616,028
2,660,209
155,419,490
1,623,872
55,486,658
2,218,851
2,231,511
145,458,170
10,458,751
2,660,209
213,137,659
3,145,065
3,618,522
167,566,790
59,097,965
2,552,769
229,217,524
7,484,918
295,867,016
32,139,451
2,482,013
330,488,480
28,496,490
9,500,057
1,000,000
29,570,914
9,051,695
75,592,353
9,500,057
1,000,000
9,051,695
104,884,712
32,558,326
NET POSITION
Restricted for:
Revenue Bonds Debt Service
Renewal, Replacement and Improvements
Landfill Closure and Long-Term Care Costs
Unrestricted (Deficit)
Total Net Position
$
335,937,987
$
116,783,499
(278,555)
$
Adjustment to Reflect Consolidation of Internal Service Fund Activities Related to Enterprise Funds (Cumulative)
Net Position of Business-Type Activities
D-11
2,203,458
454,924,944
$
(1,765,110)
453,159,834
$
61,054,816
PROPRIETARY FUNDS
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
Utilities
OPERATING REVENUES
Other Revenue
Total Operating Revenues
$
Rohr Nursing
Home
Waste Resource
(Nonmajor
Management
Fund)
54,360,685
3,731,558
58,092,243
$
37,195,482
2,879,332
40,074,814
$
Total
Governmental
Activities Internal
Service
Funds
5,462,478
5,462,478
$ 97,018,645
6,610,890
103,629,535
$ 67,119,107
864,285
67,983,392
OPERATING EXPENSES
Personal Services
Operations and Maintenance
Indirect
Health Care Program
Other
Total Operating Expenses
10,952,290
19,479,602
1,880,929
10,546,489
42,859,310
2,814,685
19,879,756
496,956
4,884,445
2,645,356
667,360
31,388,558
2,502,833
2,337,244
426,455
111,422
3,813
5,381,767
16,269,808
41,696,602
2,804,340
15,542,356
2,645,356
671,173
79,629,635
6,953,144
10,081,765
5,839,633
37,420,952
60,295,494
OPERATING INCOME (LOSS)
15,232,933
8,686,256
80,711
23,999,900
7,687,898
NONOPERATING REVENUES (EXPENSES)
Grant Revenue
Interest Income
Interest Expense
Other Debt Service Costs
Gain (Loss) on Disposition of Equipment
Transfer of Capital Assets - Governmental Funds
Total Nonoperating Revenues (Expenses), Net
192,892
442,562
(1,271,616)
(6,052,916)
(1,437,466)
(729,614)
(3,153)
(8,859,311)
1,024,579
(2,744,497)
169
(5,124)
(1,724,873)
12,445
(36,850)
(24,405)
192,892
1,479,586
(4,052,963)
(6,052,916)
(1,437,466)
(729,445)
(8,277)
(10,608,589)
INCOME (LOSS) BEFORE CONTRIBUTIONS
AND TRANSFERS
6,373,622
6,961,383
56,306
13,391,311
CONTRIBUTIONS AND TRANSFERS
Capital Contributions
Transfers In
Transfers Out
Total Contributions and Transfers
1,046,001
11,924
1,057,925
102,216
(15,550,716)
(15,448,500)
8,713
8,713
1,046,001
122,853
(15,550,716)
(14,381,862)
7,750
7,750
7,431,547
(8,487,117)
65,019
(990,551)
8,013,370
Total Net Position - Beginning of Year
TOTAL NET POSITION - END OF YEAR
328,506,440
$
335,937,987
125,270,616
$
116,783,499
Adjustments to Reflect Consolidation of Internal Service Fund Activities Related to Enterprise Funds:
Current Year Adjustment
Change in Net Position of Business-Type Activities
D-12
$
248,556
(693,757)
912,850
(149,927)
317,722
8,005,620
2,138,439
53,041,446
2,203,458
$ 61,054,816
$
529,888
(460,663)
PROPRIETARY FUNDS
STATEMENT OF CASH FLOWS
Utilities
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers
Cash Paid to Suppliers for Goods and Services
Cash Paid to Employees for Services
Cash Received from Other Sources
Net Cash From Operating Activities
$
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Grants Received
Transfers
Net Cash From Noncapital
Financing Activities
54,159,741
(20,508,509)
(10,486,514)
3,731,558
26,896,276
Business-type Activities - Enterprise Funds
Rohr Nursing
Home
Waste Resource
(Nonmajor
Management
Fund)
$
37,300,179
(23,770,355)
(221,117)
2,879,332
16,188,039
$ 5,705,007
(2,797,423)
(2,411,746)
495,838
Total
$
97,164,927
(47,076,287)
(13,119,377)
6,610,890
43,580,153
Governmental
Activities Internal
Service
Funds
$
66,758,247
(48,680,599)
(6,970,428)
1,063,205
12,170,425
192,892
11,924
(15,448,500)
8,713
192,892
(15,427,863)
-
204,816
(15,448,500)
8,713
(15,234,971)
-
(25,409,278)
(2,600,000)
(7,334,164)
284,000
(1,372,391)
1,057
(55,915)
-
(26,837,584)
(2,600,000)
(7,334,164)
285,057
(10,068,181)
992,627
(35,059,442)
(1,371,334)
(55,915)
(36,486,691)
(9,075,554)
36,225,237
(30,015,878)
415,761
6,625,120
91,188,479
(89,489,144)
986,811
2,686,146
1,231,334
(1,542,111)
11,333
(299,444)
128,645,050
(121,047,133)
1,413,905
9,011,822
26,203,605
(28,086,605)
242,595
(1,640,405)
NET CHANGE IN CASH AND CASH EQUIVALENTS
(1,333,230)
2,054,351
149,192
870,313
1,454,466
Cash and Cash Equivalents - Beginning of Year
15,142,154
37,855,079
384,453
53,381,686
9,386,969
CASH FLOWS FROM CAPITAL AND RELATED
Acquisition and Construction of Capital Assets
Principal Paid on Bonds, Capital Leases, and Contracts
Interest Paid on Bonds, Capital Leases, and Interfund Loans
Proceeds on Sales of Capital Assets
Net Cash From Capital and
Related Financing Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from Sale of Investments
Purchases of Investments
Interest and Dividends on Investments
Net Cash From Investing Activities
CASH AND CASH EQUIVALENTS - END OF YEAR
$
13,808,924
$
39,909,430
$
533,645
$
54,251,999
$
10,841,435
NONCASH INVESTING, CAPITAL AND
Contribution of Capital Assets
$
1,046,001
$
-
$
-
$
1,046,001
$
7,750
$
$
533,645
1,363,391
$ 1,897,036
$
$
54,251,999
137,629,519
191,881,518
$
$
39,909,430
100,971,552
140,880,982
$
$
13,808,924
35,294,576
49,103,500
$
10,841,435
27,689,920
38,531,355
$
34,508,423
$
77,993,612
$ 1,897,036
$
114,399,071
$
38,531,355
256,156
62,631,214
-
140,880,982
$ 1,897,036
RECONCILIATION OF ENTERPRISE FUND CASH TO
POOLED CASH AND INVESTMENTS
Enterprise Fund Pooled Cash and Cash Equivalents
Enterprise Fund Pooled Investments
Total Cash and Investments
RECONCILIATION OF ENTERPRISE FUND CASH AND
INVESTMENTS TO COMBINING BALANCE SHEET
Cash, Cash Equivalents and Investments
Cash, Cash Equivalents and Investments,
Restricted for Current Liabilities
Cash, Cash Equivalents and Investments, Restricted
for Noncurrent Liabilities
4,095,020
10,500,057
$
49,103,500
D-13
$
4,351,176
73,131,271
$
191,881,518
$
38,531,355
PROPRIETARY FUNDS
STATEMENT OF CASH FLOWS
Utilities
RECONCILIATION OF NET OPERATING INCOME
TO NET CASH FROM OPERATING ACTIVITIES
Operating Income (Loss)
Adjustments to Reconcile Operating Income
to Net Cash Used by Operating Activities:
(Increase) Decrease in:
Accounts Receivable
Allowance for Doubtful Accounts
Other Assets
Inventory
Increase (Decrease) in:
Vouchers Payable
Accrued Liabilities
Customer Deposits
Unearned Revenue
Bonds Payable
Postemployment Health Care Benefits Payable
Other Debt Service Costs
Other Noncurrent Liabilities
Total Adjustments
Net Cash From Operating Activities
$
15,232,933
Rohr Nursing
Home
Waste Resource
(Nonmajor
Management
Fund)
$
10,546,489
D-14
230,925
(413,211)
(5,138)
2,620,515
930
79,550
7,501,783
$
16,188,039
80,711
$
111,422
103,767
-
951,538
21,105
(28,168)
156,296
(76,313)
329,353
(101,131)
143,486
11,663,343
26,896,276
$
4,884,445
(691,648)
334,408
77,928
$
8,686,256
Total
$
23,999,900
Governmental
Activities Internal
Service
Funds
$
15,542,356
7,687,898
5,839,633
1,201,252
(491,951)
(466,772)
-
613,371
(157,543)
(466,772)
77,928
(316,633)
198,920
(26,105)
(211,969)
(29,687)
6,009
(224)
85,078
415,127
1,152,776
(386,097)
(33,530)
2,620,515
157,226
(76,313)
493,981
(101,131)
143,486
19,580,253
(646,031)
12,296
(41,558)
(44,227)
(456,000)
174,201
4,482,527
495,838
$
43,580,153
$
12,170,425
AGENCY FUND
STATEMENT OF FIDUCIARY NET POSITION
SEPTEMBER 30, 2013
ASSETS
Cash and Cash Equivalents
$ 19,725,627
2,462
Total Assets
$ 19,728,089
LIABILITIES
Due to Others
Deposits
$
Total Liabilities
4,142,017
5,897,688
9,688,384
$ 19,728,089
D-15
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
NOTE 1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity
Polk County is a political subdivision of the State of Florida governed by the State
Constitution and general laws of the State of Florida.
The legislative and governing body of the County is the five-member Board of County
Commissioners (Board). Each County Commissioner is elected on a county-wide basis for
a four year term of office and each County Commissioner is a resident of their Commission
District. Polk County became a Home Rule Charter County on January 1, 1999, with an
appointed County Manager, and with separate legislative and executive functions. The
County Manager is the head of the administrative branch of county government and is
responsible to the Board of County Commissioners for the proper administration of all
affairs of the County, except for those powers, duties and functions residing, as specified by
law, with the elected constitutional officers.
There are six offices elected countywide which are as follows: Board of County
Commissioners, Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of
Elections, and Tax Collector.
The Board of County Commissioners and all Constitutional Officers maintain their accounts in
accordance with the uniform classification of accounts required by Section 218.33, Florida
Statutes. Pursuant to Section 125.17, Florida Statutes, the Clerk of the Courts of the County
is designated as clerk, auditor and accountant for the Board.
The accompanying financial statements present the government and its component units,
entities for which the government is considered to be financially accountable. The County is
financially responsible if it appoints a voting majority of the organization’s governing body and
(a) is able to impose its will on that organization or (b) there is a potential for the organization
to provide specific financial benefits to, or impose specific financial burdens on the County.
The County may be financially accountable if an organization is fiscally dependent on the
County regardless of whether the organization has (a) a separately elected governing board,
(b) a governing board appointed by a higher level of government, or (c) a jointly appointed
board. If a component unit is, in substance, part of the government’s operations, it should be
reported as a blended component unit. Otherwise, a component unit should be discretely
presented. For the year ended September 30, 2013, the County had no discretely presented
component units.
Blended Component Units
The North Ridge, Harden/Parkway, Polk Commerce Centre, and Eloise Community
Redevelopment Agencies (CRAs), were created pursuant to Chapter 163.360 of the Florida
Statutes and by County Ordinances 02-29, 04-11, 92-40, and 98-50, respectively. The
CRAs provide for the rehabilitation and/or conservation of the communities in the interest of
the public health, safety, morals or welfare of the residents in these unincorporated areas of
Polk County. The financial information for these component units is included with the
financial information of the primary government in the government-wide statements since
the Board of County Commissioners serves as the governing body of these CRAs and
approves the annual budgets. The North Ridge, Harden/Parkway, Polk Commerce Centre,
and Eloise CRAs are operated as special revenue funds of Polk County.
E-1
SEPTEMBER 30, 2013
NOTE 1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Measurement Focus and Basis of Accounting
The basic financial statements of the County are composed of the following:



Government-wide financial statements
Fund financial statements
Notes to the financial statements
Government–Wide Financial Statements
The government-wide financial statements consist of a statement of net position and a
statement of activities. These statements report all of the assets, deferred outflows of
resources, liabilities, deferred inflows of resources, revenues, expenses, gains and losses
on all of the nonfiduciary activities of the County, providing a consolidated financial picture
of the government as a whole. For the most part, the effect of interfund activity has been
removed from these statements.
Each statement distinguishes between activities that are supported primarily by taxes and
intergovernmental revenues (governmental activities) and activities that are intended to
recover all or most of their costs through user fees and charges (business-type activities).
The governmental activities of the County include general government, public safety,
physical environment, transportation, economic environment, human services, and culture
and recreation. The business-type activities of the County include the Utilities Fund, Waste
Resource Management Fund, and the Rohr Nursing Home Fund.
The statement of net position reports all financial and capital resources and obligations of
the County as a whole. The effects of fiduciary funds are not included as a part of this
statement. The difference between assets plus deferred outflows of resources and liabilities
plus deferred inflows of resources is reported as net position. The statement of activities
presents information showing how the County's net position changed during the fiscal year.
Further, this statement demonstrates the degree to which the direct expenses of a given
function or segment is offset by program revenues.
Government-wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting, as are the proprietary fund
financial statements. Under the accrual basis of accounting, revenues, expenses, gains,
losses, assets, and liabilities resulting from exchange and exchange-like transactions are
recognized when the exchange takes place. Revenues, expenses, gains, losses, assets,
and liabilities resulting from nonexchange transactions are recognized in accordance with
the requirements of GASB Statement No. 33 – Accounting and Financial Reporting for
Nonexchange Transactions.
Program revenues are derived directly from the program itself or from parties outside the
reporting government’s taxpayers or citizenry, as a whole; they reduce the cost of the
function to be financed from the government’s general revenues. Program revenues
include charges for services, program specific operating grants and contributions, and
program specific capital grants and contributions. Program revenues are netted with
program expenses in the statement of activities to present the net cost of each program.
E-2
SEPTEMBER 30, 2013
NOTE 1
Amounts paid to acquire capital assets are capitalized as assets in the government-wide
financial statements, rather than reported as an expenditure. Proceeds of long-term debt
are recorded as liabilities in the government-wide financial statements, rather than as an
other financing source. Amounts paid to reduce long-term indebtedness of the reporting
government are reported as a reduction of the related liability, rather than as an
expenditure.
As a general rule, the effects of intrafund transfers among governmental funds and
enterprise funds, respectively, have been eliminated from the government-wide financial
statements. However, certain interfund services, accounted for in the internal service funds,
have not been eliminated from the government-wide financial statements. The County
chooses to eliminate the indirect costs between governmental activities to avoid a “doubling
up” effect.
Fund Financial Statements
The underlying accounting system of the County is organized and operated on the basis of
separate funds, each of which is considered to be a separate accounting entity. The
operations of each fund are accounted for with a separate set of self-balancing accounts
that comprise its assets, liabilities, fund balance, revenues and expenditures or expenses,
as appropriate. Governmental resources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent and the means by which
spending activities are controlled.
Fund financial statements for the primary government’s governmental, proprietary, and
fiduciary funds are presented after the government-wide financial statements. These
statements display information about major funds individually and nonmajor funds in the
aggregate for governmental and enterprise funds. The fiduciary statement includes
financial information for the agency fund. The agency fund of the County primarily
represents assets held by the County in a custodial capacity for other individuals or
governments.
Governmental Funds
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are
recognized as soon as they are both measurable and available. Revenues are considered
to be available when they are collected within the current period or soon enough thereafter
to pay liabilities of the current period. For this purpose, the County considers revenues to
be available if they are collected within 60 days of the end of the current fiscal period.
Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. Property taxes, intergovernmental revenues and interest earned associated
with the current fiscal period are all considered to be susceptible to accrual and so have
been recognized as revenues of the current fiscal period. All other revenue items are
considered to be measurable only when cash is received by the County.
E-3
SEPTEMBER 30, 2013
NOTE 1
Governmental Funds (continued)
Under the current financial resources measurement focus, only current assets and current
liabilities are generally included on the balance sheet. The reported fund balance is
considered to be a measure of “available spendable resources”. Governmental funds
operating statements present increases (revenues and other financing sources) and
decreases (expenditures and other financing uses) in net current assets. Accordingly, they
are said to present a summary of sources and uses of “available spendable resources”
during a period.
Non-current portions of long-term receivables (special assessment) due to governmental
funds are reported on their balance sheets in spite of their spending measurement focus.
Because of their spending measurement focus, expenditure recognition for governmental
fund types excludes amounts represented by noncurrent liabilities. Since they do not affect
net current assets, such long-term amounts are not recognized as governmental fund type
expenditures or fund liabilities.
Amounts expended to acquire capital assets are recorded as expenditures in the year that
resources were expended, rather than as fund assets. The proceeds of long-term debt are
recorded as other financing sources rather than as a fund liability. However, debt service
expenditures, as well as expenditures related to compensated absences and claims and
judgments, are recorded only when payment is due.
Proprietary Funds
Proprietary funds focus on the determination of operating income, changes in net position
(or cost recovery), financial position, and cash flows. The proprietary fund category
includes enterprise and internal service funds. Enterprise funds may be used to account for
any activity for which a fee is charged to external users for goods or services. Activities are
required to be reported as enterprise funds if any one of the following criteria is met: (a) the
activity is financed with debt that is secured solely by a pledge of the net revenues from
fees and charges of the activity; (b) laws or regulations require that the activity’s costs of
providing services, including capital costs be recovered with fees and charges, rather than
with taxes or similar revenues; or (c) the pricing policies of the activity establish fees and
charges designated to recover its costs, including capital costs.
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.
The principal operating revenues of the County’s enterprise and internal service funds are
charges to customers for sales and services. Operating expenses for the County’s
enterprise 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.
Amounts paid to acquire capital assets are capitalized as assets in the fund financial
statements, rather than reported as expenditures. Proceeds of long-term debt are recorded
as a liability in the fund financial statements, rather than as other financing sources.
Amounts paid to reduce long-term indebtedness are reported as a reduction of the related
liabilities, rather than as an expense.
E-4
SEPTEMBER 30, 2013
NOTE 1
Basis of Presentation
GASB Statement No. 34 sets forth minimum criteria (percentage of the assets, liabilities,
revenues or expenditures/expenses of either fund category and the governmental and
enterprise combined) for the determination of major funds. The County has used GASB
Statement No. 34 minimum criteria for major fund determination. The non-major funds are
combined in a column in the fund financial statements and detailed in the combining
section.
Governmental Major Funds
General Fund – The General Fund is the general operating fund of the County. It is used
to account for all financial resources, except those required to be accounted for in
another fund.
Business-Type Major Funds
Utilities Fund – This fund accounts for all activities necessary to provide water and sewer
services to residents in certain unincorporated areas of the County.
Waste Resource Management Fund – This fund accounts for all activities necessary to
provide garbage collection and disposal services to the residents and businesses of the
County.
Other Fund Types
Internal Service Funds – Internal Service Funds account for Fleet Management,
Information Technology, and Employee Health Insurance services provided to other
departments of the County on a cost reimbursement basis.
Agency Fund – The Agency Fund accounts for all assets held by the County in its
capacity as custodian or agent for individuals, other governmental units, and non-public
organizations. The Agency fund is custodial in nature (assets equal liabilities) and does
not involve measurement of results of operations.
Non-current Governmental Assets/Liabilities
GASB Statement No. 34 requires non-current governmental assets, such as land and
buildings, and non-current governmental liabilities, such as general obligation bonds and
capital leases, be reported in the governmental activities column in the government-wide
Statement of Net Position.
E-5
SEPTEMBER 30, 2013
NOTE 1
Pooled Cash and Investments
All funds participate in the pooled cash and investments program for the purpose of
maximizing investment yields. The earnings of the pool are allocated on a monthly basis to
individual funds based upon their average monthly balance in the pool.
In accordance with GASB Statement No. 9, each fund’s equity in the County’s pool is
considered to be a cash equivalent since the funds can deposit or effectively withdraw cash
at any time without prior notice or penalty.
Pooled cash of the County determined to be available in excess of immediate needs is
placed in investments in accordance with the Polk County Investment Policy as amended
November 8, 2011, under the guidelines of Florida Statute 218.415. Investments, which are
primarily comprised of treasury notes and other U.S. obligations, certificates of deposits,
and amounts invested with the State Board of Administration, are recorded at fair value.
Allowance for Doubtful Accounts
The County provides an allowance for water and sewer accounts, solid waste
management, Rohr nursing home and governmental funds receivables, which include
ambulance and impact fee receivables, which may become uncollectible. At September 30,
2013, this allowance was $3,217,777, $100,000, $263,889, and $31,004,241, respectively.
No other allowances for doubtful accounts are maintained since other fund accounts
receivable are considered collectible as reported at September 30, 2013.
Receivables and Payables
Activities between funds that are representative of lending/borrowing arrangements
outstanding at the end of the fiscal year are referred to as “due to/from other funds”. Any
residual balances outstanding between the governmental activities and business-type
activities are reported in the government-wide financial statements as “internal balances”.
Inventory
Inventories are stated at cost using the first–in, first–out, (FIFO) method. Inventories consist
of expendable supplies held for consumption (consumption method).
Restricted Assets
Certain funds of the County are classified as restricted assets on the statement of net
position because the restriction is either imposed by law through constitutional provisions or
enabling legislation or imposed externally by creditors, grantors, contributors, or laws or
regulations of other governments. Therefore, their use is limited by applicable laws and
regulations.
E-6
SEPTEMBER 30, 2013
NOTE 1
Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets (e.g.,
roads, bridges, right-of-ways, water and sewer distribution systems and similar items), are
reported in the applicable governmental or business-type activities column in the
government-wide financial statements.
Capital assets are valued at historical cost or estimated historical cost if actual is not
available. Donated capital assets are recorded at estimated fair market value at the date of
donation.
Betterments and major improvements which significantly increase the values, change
capacities, or extend the useful lives are capitalized. Major outlays for capital assets and
improvements are capitalized as projects are constructed. Interest incurred during the
construction phase of capital assets of business-type activities is included as part of the
capitalized value of the assets constructed.
The costs of normal maintenance and repairs that do not add to the value of the asset or
materially extend its useful life are charged to expenditures/expenses as incurred and not
capitalized.
Capital assets acquired by lease/purchase agreements or multiple year installment
purchase contracts are recorded in the governmental funds in the year acquired as capital
outlay expenditures and as other financing sources in the amount of the discounted present
value of the total stipulated payments.
The Sheriff is accountable for and thus maintains capital asset records pertaining only to
equipment used in his operations. These assets have been combined with the Board’s
governmental activities capital assets in the statement of net position.
The Governmental Accounting Standards Board Statement 51 established accounting and
financial reporting requirements for intangible assets. This statement has been
implemented by including software and easements as intangible assets.
Property, plant, equipment, infrastructure, and intangibles of the primary government are
depreciated/amortized using the straight-line method over the following estimated useful
lives. Assets with an initial, individual cost equal to or greater than the following thresholds,
along with their estimated useful lives are as follows:
Assets
Buildings and Improvements
Equipment
Infrastructure
Intangibles
Years
10, 40 - 45
5 - 15
10 - 75
3 - 10
E-7
Capitalization Threshold
Capitalize All
$1,000
Capitalize All
$100,000
SEPTEMBER 30, 2013
NOTE 1
Ad Valorem Taxes
The property tax calendar for 2013 is as follows:
Lien Date
Levy Date
Due Dates
Delinquent Date
Tax Certificate Sale
January 1
January 1
November 1 through March 31
April 1
Not later than June 1
No accrual for the property tax levy becoming due in November of 2013 is included in the
accompanying financial statements since such taxes are collected to finance expenditures
of the subsequent period.
Capitalized Lease Obligations
Assets acquired under capitalized lease obligations for governmental and enterprise fund
types are accounted for as assets and liabilities in the government-wide Statement of Net
Position. In the individual fund statements, these lease obligations are included in the
enterprise funds, but not in the governmental funds. The capitalized lease obligations are
stated at the original fair market value of leased assets capitalized, less payments since the
inception of the lease discounted at the implicit rate in the lease.
Deferred Outflows/Inflows of Resources
In addition to assets, the statement of net position includes a separate section for deferred
outflows of resources. This represents a consumption of net position that applies to a
future period and so will not be recognized as an outflow of resources
(expense/expenditure) until then. For the County, only one type of item qualifies for
reporting in this category. It is the deferred charge on refunding reported in the proprietary
and the government-wide statements of net position. A deferred charge on debt refunding
results from the difference in the carrying value of refunded debt and its reacquisition price.
This amount is deferred and amortized over the shorter of the life of the refunded or
refunding debt.
In addition to liabilities, the statement of net position may at times include a separate
section for the deferred inflows of resources. This represents an acquisition of net position
that applies to a future period and so will not be recognized as an inflow of resources
(revenue) until that time. The County does not have any deferred inflows as of September
30, 2013.
The unpaid vacation and sick leave accumulated by employees is accrued as an expense
when incurred in the government-wide statement of activities and the proprietary funds.
Therefore, the entire unpaid liability for compensated absences is recorded in the
government-wide statement of net position. Compensated absences are reported in
governmental funds only if they have matured (i.e., unused reimbursable leave still
outstanding following an employee’s resignation or retirement).
E-8
SEPTEMBER 30, 2013
NOTE 1
Unearned Revenue
Special Assessments – Special assessments are recognized in governmental funds as
revenue only to the extent that individual installments are considered current assets. Noncurrent special assessments receivable are reflected as unearned revenue on the balance
sheet. Revenue from the unearned installment receivables will be recognized when it
becomes measurable and available as current assets.
Grants – Revenue related to federal and state financial assistance programs is recognized
when the funds are expended. Unexpended funds received are reported as unearned
revenue.
Amortization
Bond premiums and discounts are represented as additions or reductions of the face
amount of bonds payable.
Contributions
Contributions of cash or property received from other County funds, other governmental
units and from contractors or developers are credited directly to the contribution accounts in
the proprietary funds. Transfers between funds, which arise from non-routine transfers of
capital from one fund to another, are accounted for as direct transfers of fund balance.
Property and equipment contributed for general governmental purposes are recorded in the
government-wide statement of net position.
Fund Balance and Spending Policies
In accordance with GASB Statement No. 54 – Fund Balance Reporting and Governmental
Fund Type Definitions, governments are required to classify fund balance in governmental
funds as nonspendable, restricted, committed, assigned, and unassigned. The following
are the definitions of the fund balance classifications:
Nonspendable – amounts that cannot be spent either because they are in nonspendable
form or because they are legally or contractually required to be maintained intact.
Restricted – amounts that can be spent only for specific purposes because of constitutional
provisions, charter requirements or enabling legislation or because of constraints that are
externally imposed by creditors, grantors, contributors, or the laws or regulations of other
governments.
Committed – amounts that can be used only for specific purposes determined by a formal
action of the Board of County Commissioners, the County’s highest level of decision
making authority, by establishment of an Ordinance or Resolution. Commitments may be
modified or removed by the Board of County Commissioners by amending or repealing an
Ordinance or establishing a new Resolution.
Assigned – amounts that are intended by the Board to be used for specific purposes, but
are neither restricted nor committed. The Board has not granted any specific individual the
authority to assign amounts, thus assignments may be made only by the Board.
Unassigned – all other spendable amounts.
E-9
SEPTEMBER 30, 2013
NOTE 1
Fund Balance and Spending Policies (continued)
The County has implemented fund balance and spending policies to clearly define the
process for tracking the various classifications of fund balance. The policy states when a
general fund expenditure is incurred and where restricted, committed, assigned, or
unassigned amounts are available to be used, the County will first use restricted amounts,
then committed amounts, then assigned amounts, and finally unassigned amounts. All
other funds in which an expenditure is incurred and where restricted, committed, assigned,
or unassigned amounts are available to be used, the County will first use unassigned
amounts, then assigned amounts, then committed amounts, and finally restricted amounts.
When an expense is incurred for purposes for which both restricted and unrestricted net
position is available, the County’s policy is to first use restricted net position then
unrestricted net position.
Use of Estimates
The preparation of the financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and
contingent assets and liabilities as of the date of the financial statements, and the reported
amounts of revenues and expenses during the reporting period. Actual results could differ
from those estimates.
Adoption of New Accounting Principle
The County has adopted Governmental Accounting Standards Board (GASB) 62 –
Codification of Accounting and Financial Reporting Guidance Contained in Pre-November
30, 1989 FASB and AICPA Pronouncements, supersedes GASBS 20. GASBS 20 gave
governments the choice to elect to follow only GASB’s authoritative literature, or to follow
FASB and AICPA pronouncements that did not conflict with GASB pronouncements. Upon
adoption of GASB 62, all governmental accounting guidance is codified into the GASB
literature.
E-10
SEPTEMBER 30, 2013
NOTE 1
The County has adopted Governmental Accounting Standards Board (GASB) 63 –
Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and
Net Position. This Statement provides guidance for certain items formerly classified as
assets and liabilities. GASB Concepts Statement 4 redefines these as "deferred outflows of
resources” (formerly assets) and "deferred inflows of resources” (formerly liabilities). Each
new category must have its own Statement of Net Position section. Statement No. 63 also
requires that the last line of the statements formerly called "Net assets” now be titled "Net
position” to reflect the new classifications. In addition, "Invested in capital assets, net of
related debt" will now be titled "Net investment in capital assets” in order to properly
present the total of the items. Other than the new classifications and titles, this Statement
only addresses upfront payments of service concession arrangements and the deferral of
annual changes in the fair value of derivatives.
The County has adopted Governmental Accounting Standards Board (GASB) 65 – Items
Previously Reported as Assets and Liabilities. This Statement provides more guidance for
the items listed in Statement No. 63, and adds additional changes. It requires that
statements avoid use of the word "deferred” except as it relates to items that are deferred
outflows or are deferred inflows. It addresses the calculation of a deferred outflow or inflow
for refunding of debt. For nonexchange transactions like grants, amounts received before
the time period of eligibility are treated as deferred inflows. This Statement also addresses
taxes received prior to the period to which they relate. Statement No. 65 also requires debt
issuance costs to be expensed in the period that the debt was issued. In the past, these
costs were amortized over the life of the issue.
NOTE 2
BUDGETS AND BUDGETARY ACCOUNTING
The Board follows these procedures in establishing the budgetary data reflected in the
financial statements:
1) Prior to July 15, the County Manager, as County Budget Officer, submits to the
Board of County Commissioners a proposed operating budget for the fiscal year
commencing the following October 1. The operating budget includes proposed
expenditures and the means of financing them.
2) Public hearings are conducted to obtain taxpayer comments.
3) Prior to October 1, the budget is legally enacted through passage of a resolution.
4) Formal budgetary integration is employed as a management control device during
the year for the general fund, special revenue funds, debt service funds and capital
projects funds.
5) Budgets for the general, certain special revenue, debt service and capital projects
funds are adopted on a basis consistent with generally accepted accounting
principles (GAAP).
6) The County Manager (or his designee) approves budget transfers at the department
level within a fund. Budget amendments at the fund level are approved by the Board.
7) Florida Statute 129, Section 7, as amended in 1978, provides that expenditures in
excess of total fund budgets are unlawful. When supplemental appropriations are
necessary, the budget is amended by the Board in a legally permissible manner. The
budgetary data presented herein reflects the original adopted budget and the final
budget after all amendments were made.
E-11
SEPTEMBER 30, 2013
NOTE 2
BUDGETS AND BUDGETARY ACCOUNTING (CONTINUED)
8) Unused appropriations lapse at the end of each fiscal year. However, some amounts
may be carried forward to the following fiscal year in the form of a new appropriation
which must be approved by the County Commission.
Chapter 195, Florida Statutes, governs the preparation, adoption and administration of the
Tax Collector and Property Appraiser's annual budgets. The annual budget of the Tax
Collector and the Property Appraiser must be submitted to and approved by the
Department of Revenue, State of Florida.
The budget for the Clerk of the Circuit Court’s general fund is prepared, adopted and
administered in accordance with Sections 129.03 and 218.35, Florida Statutes, which
requires separation of the part pertaining to the court system from that pertaining to the
Clerk, Auditor and Accountant of the Board of County Commissioners.
The budget for the Clerk of the Circuit Court’s court fund is prepared, adopted and
administered in accordance with Section 28.36, Florida Statutes.
The budget for the Sheriff’s general fund is prepared, adopted and administered in
accordance with Section 30.49, Florida Statutes.
The budget for the Supervisor of Election’s general fund is prepared, adopted and
administered in accordance with Sections 129.201 and 129.202, Florida Statutes.
NOTE 3
Custodial Credit Risk
Custodial credit risk is defined as the risk that, in the event of failure of the counterparty, the
County will not be able to recover the value of its deposits or securities that are in the
possession of an outside party.
As of September 30, 2013, the County’s book balance of cash was $86,887,388 and the
bank balance was $76,886,171. The County’s bank balances are insured by the Federal
Deposit Insurance Corporation (FDIC) in the amount of $250,000 for each banking
relationship. The remaining balances are collateralized pursuant to Chapter 280, Florida
Statutes. The County’s investment policy requires that deposits be 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.
The County’s investment policy requires that securities be secured through third-party
custody in the County’s name and safekeeping procedures. All of the County’s investments
are held by the counterparty’s trust department in the County’s name.
E-12
SEPTEMBER 30, 2013
NOTE 3
POOLED CASH AND INVESTMENTS (CONTINUED)
Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value
of an investment. As of September 30, 2013, the County had the following investments and
maturities:
Fair Value
U. S. Agencies:
Fixed
Adjustable Rates
Standard Mortgage
Backed Securities:
Fixed
Adjustable Rates
FLGIT
SBA
Certificates of Deposit
Total
$
< 1 Year
19,012,500
285,876,540
$
Investment Maturities (in years)
1 - 5 Years
> 5 Years
-
4,193,871
29,047
51,186,200
122,114,401
15,047,995
1,530
51,186,200
122,114,401
15,047,995
$ 497,460,554
$ 188,350,126
$
-
$
1,264,757
$
1,264,757
19,012,500
285,876,540
2,927,584
29,047
$
307,845,671
The County limits interest rate risk by maintaining no more than 5% of the investment
portfolio in securities that have an estimated average return of principal exceeding five
years.
In accordance with the County’s investment policy, the County invests in certain derivative
products, including collateralized mortgage backed securities. In management’s opinion,
the credit and legal risk associated with these investments would be comparable to other
investments within the portfolio. The principal repayment portions could be sensitive to
prepayment by mortgagers, which may be affected by interest rate changes. The
prepayments and anticipated interest rate changes can therefore affect the market values
of the respective investments.
E-13
SEPTEMBER 30, 2013
NOTE 3
Credit Risk
Credit risk is the risk that, in the event of failure of the counterparty to a transaction, the
County will not be able to recover the value of the investment or collateral securities that
are in possession of an outside party. The County’s investment policy limits credit risk by
restricting the authorized investment type and percentage of portfolio concentration. The
following table illustrates the credit quality distribution with credit exposure as a percentage
of the County’s investment securities.
Investment Type
U.S. Agencies:
Adjustable Rates
United States Treasury Bills/Notes/Bonds
Standard Mortgage Backed Securities*:
Fixed
Adjustable Rates
FLGIT
SBA
Credit Rating
Percent of
Portfolio
AAA
----------
57.47 %
3.82 %
------------------AAAf
AAAm
Unrated
0.84 %
0.01 %
10.29 %
24.55 %
3.02 %
* Standard Mortgage Backed Securities are backed by the full faith of the U.S. Government.
The County’s investment policy authorizes the investment types and establishes limitations
on portfolio composition by investment type in order to control concentration of credit risk.
The following limits are established to serve as guidelines for diversification by instrument:
Local Government Surplus Funds Trust Fund
United States Treasury Bills/Notes/Bonds
Other United States Government Agencies
Repurchase Agreements
Florida Local Government Investment Trust
Commercial Paper/Banker's Acceptances
Collateralized Mortgage Obligations
Adjustable AAA Rated Auction Rate Municipal Bonds
Israel Bonds
E-14
100%
100%
75%
75%
35%
20%
20%
10%
10%
5%
SEPTEMBER 30, 2013
NOTE 3
Credit Risk (continued)
The County invests funds throughout the year with Florida Prime, formerly known as the
Local Government Surplus Funds Trust Fund, an investment pool administered by the State
Board of Administration (SBA), under the regulatory oversight of the State of Florida. During
2007, the SBA reported that the State Pool was exposed to potential risks due to indirect
exposure in the sub-prime mortgage financial market. Consequently, the SBA placed some
restrictions on how participants could access their surplus funds and ultimately restructured
the State Pool into two separate pools, “Florida Prime” and “Fund B”. Total funds held in
Fund B at September 30, 2013 were $176,208.
The County’s investment in the State Pool exposes it to credit risk and, for Fund B, interest
rate risk.
Florida Prime has adopted operating procedures consistent with the requirements for a
SEC 2a7-like fund (as defined in GASB 31); therefore, the account balance should be
considered the fair value of the investment. Florida Prime is rated by Standard and Poor’s.
The current rating is AAAm. The weighted average days to maturity (WAM) of Prime at
September 30, 2013 was 44 days. A portfolio’s WAM reflects the average maturity in days
based on final maturity or reset date, in the case of floating instruments. WAM measures
the sensitivity of Florida Prime to interest rate changes.
The County’s investment pool also includes investment in the Florida Local Government
Investment Trust (FLGIT), which is a public entity investment trust organized under the laws
of the State of Florida. As of September 30, 2013, the FLGIT portfolio included certain
floating and adjustable rate securities. These securities amounted to 25.5% of the FLGIT
portfolio and included 3 investments indexed on the one month LIBOR and/or the one-year
CMT index. The Florida Local Government Investment Trust reports all share information at
Net Asset Value (NAV) and reflects fair value accounting in accordance with GASB
Statement No. 31.
E-15
SEPTEMBER 30, 2013
NOTE 4
RESTRICTED ASSETS, LIABILITIES AND NET POSITION – ENTERPRISE FUNDS
Revenue bond ordinances and certain other agreements generally require the restriction of
certain fund assets for specific purposes. Reserves, representing the excess of amounts
provided for certain restricted asset accounts over the liabilities payable there from, are
established by a reduction of unrestricted net position.
Restricted Net Position as of September 30, 2013 consists of the following:
UTILITIES FUND
Liabilities, Payable from
Restricted Assets
Restricted Net Position
WASTE RESOURCE
MANAGEMENT FUND
Interest Receivable
Restricted Assets
Liabilities, Payable from
Restricted Assets
Restricted Net Position
Revenue
Bonds
Debt Service
$
9,500,057
Renewal
Replacement
and
Improvements
$
1,000,000
-
-
$
9,500,057
$
Landfill
Closure
62,631,214
112,268
62,743,482
$
Customer
Deposits
$
239,609
239,609
(53,691,787)
$
9,051,695
1,000,000
(239,609)
$
-
Customer
Deposits
$
4,095,020
$
(4,095,020)
Total
14,595,077
(4,095,020)
$
-
$
$
Other
Liabilities
16,547
16,547
$
(16,547)
10,500,057
Total
62,887,370
112,268
62,999,638
(53,947,943)
$
9,051,695
Rule 62-701 of the Florida Administrative Code requires owners or operators of existing
landfills to establish and maintain a landfill management escrow account or an alternative
financial mechanism to show proof of financial responsibility for future landfill closure costs.
The reserve for landfill closure includes funds restricted for this purpose.
E-16
SEPTEMBER 30, 2013
NOTE 5
INTERFUND BALANCES
The composition of interfund balances as of September 30, 2013 is as follows:
Due to/from Other Funds:
Receivable Fund
General Fund
Payable Fund
Nonmajor Governmental Funds
$
Amount
2,182,509
The outstanding balances between funds result mainly from a time lag between the dates
that (1) interfund services are provided or reimbursement occurs, (2) transactions are
recorded in the accounting system, and (3) payments between funds are made. All
amounts are expected to be collected in the subsequent year.
Advances to/from Other Funds:
Receivable Fund
General Fund
Waste Resource Management Fund
Payable Fund
$
$
Amount
1,278,101
1,255,283
2,533,384
The $1,278,101 amount advanced from the General Fund to the Non-Major Governmental
Fund (Polk Commerce Centre CRA Fund) was for the purpose of paying for consulting,
engineering, and legal fees.
The $1,255,283 amount advanced from the Waste Resource Management Fund to the
Non-Major Governmental Fund (Building Fund) is to assist in funding operational
expenditures since the Building Fund revenues have decreased due to the economy.
E-17
SEPTEMBER 30, 2013
NOTE 6
CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2013 was as follows:
Beginning
Balance
Capital Assets Not Being Depreciated/Amortized:
Land and Right of Way
Construction in Process
Total Capital Assets Not Being
$
Capital Assets Being Depreciated/Amortized:
Equipment
Infrastructure
Intangibles
Total Capital Assets Being
Less Accumulated Depreciation/Amortization for:
Equipment
Infrastructure
Intangibles
Total Accumulated Depreciation/Amortization
Total Capital Assets Being Depreciated/
Amortized, Net
Governmental Activities Capital Assets, Net
Capital Assets Not Being Depreciated/Amortized:
Land
Total Capital Assets Not Being
930,641,801
140,466,879
$
1,052,194
35,180,872
Ending
Balance
Deletions
$
(1,426,394)
(129,692,833)
$
930,267,601
45,954,918
1,071,108,680
36,233,066
(131,119,227)
976,222,519
410,616,449
183,721,789
3,429,132,814
16,509,504
18,635,365
19,433,918
109,780,491
769,852
(45,520)
(9,406,291)
-
429,206,294
193,749,416
3,538,913,305
17,279,356
4,039,980,556
148,619,626
(9,451,811)
4,179,148,371
(133,369,613)
(130,153,318)
(1,258,870,242)
(9,143,227)
(1,531,536,400)
(11,942,780)
(16,051,168)
(68,862,572)
(2,010,934)
(98,867,454)
29,465
9,044,889
9,074,354
(145,282,928)
(137,159,597)
(1,327,732,814)
(11,154,161)
(1,621,329,500)
2,508,444,156
49,752,172
(377,457)
2,557,818,871
$
3,579,552,836
$
85,985,238
$
(131,496,684)
$
3,534,041,390
$
14,208,059
91,623,489
$
27,797,672
$
(279,375)
(9,427,651)
$
13,928,684
109,993,510
Capital Assets Being Depreciated/Amortized:
Equipment
Infrastructure
Intangibles
Total Capital Assets Being
Less Accumulated Depreciation/Amortization for:
Buildings, Distribution Systems, and Improvements
Equipment
Infrastructure
Total Accumulated Depreciation/Amortization
Total Capital Assets Being Depreciated/
Amortized, Net
Business-Type Activities Capital Assets, Net
Additions
105,831,548
27,797,672
(9,707,026)
123,922,194
492,851,770
4,314,980
82,833
598,893
10,280,692
299,667
217,756
(2,971,690)
(255,408)
-
500,160,772
4,359,239
82,833
816,649
497,848,476
10,798,115
(3,227,098)
505,419,493
(133,933,642)
(2,991,594)
(39,114)
(136,964,350)
(15,256,878)
(279,956)
(5,522)
(15,542,356)
2,315,838
220,176
2,536,014
(146,874,682)
(3,051,374)
(44,636)
(149,970,692)
360,884,126
$
466,715,674
(4,744,241)
$
23,053,431
(691,084)
$
(10,398,110)
355,448,801
$
479,370,995
For the year ended September 30, 2013, $1,281,248 of interest was capitalized in
Construction in Progress within the Utilities Fund.
E-18
SEPTEMBER 30, 2013
NOTE 6
CAPITAL ASSETS (CONTINUED)
Depreciation/amortization expense was charged to functions/programs of the primary
government as follows:
General Government
Public Safety
Transportation
Human Services
Culture/Recreation
Capital Assets Held by the Government's Internal
Service Funds
Total Additions to Accumulated
$
5,839,634
Water and Sewer
Nursing Home
Total Additions to Accumulated
NOTE 7
3,768,715
14,562,740
1,232,663
69,619,665
366,104
1,299,194
2,178,739
$
98,867,454
$
10,546,489
4,884,445
111,422
$
15,542,356
SELF-INSURED EMPLOYEE HEALTH PLAN
In 1993, the County established the Employee Health Insurance Fund as an Internal
Service Fund. This fund was created to self-insure County employees and their dependents
for group medical cost. Medical claims are paid from premiums contributed by employees
and by the County. Premiums and contributions are determined by projected claims based
on historic and actuarial experience. There were no claims against the reinsurance policy in
the current year or for the last three years.
Claim liabilities are recorded when it is probable to determine that liability has been
incurred and the amount can be reasonably estimated, including an estimate for claims
incurred but not reported. This estimate is based on historical experience and current
trends.
The following table shows the changes in aggregate liabilities for claims for the past two
fiscal years:
Fiscal
Year
2013
2012
Beginning
Balance
$
Incurred
Claims
3,020,000
2,650,000
E-19
$
24,192,912
28,700,699
Ending
Balance
Payments
$
24,648,912
28,330,699
$
2,564,000
3,020,000
SEPTEMBER 30, 2013
NOTE 8
LONG-TERM LIABILITIES (CONTINUED)
The following is a summary of the changes in long-term liabilities of the County for the year
ended September 30, 2013:
Payable at
Payable at
October 1,
September 30,
Due Within
2013
One Year
2012
Additions
Deletions
Revenue Bonds Payable
$
191,845,000
$
-
$
(7,585,000)
$
184,260,000
$
7,960,000
Plus Deferred Amounts:
For Issuance Premium
Net Bonds Payable (1)
Accrued Liabilities
Notes Payable
7,075,353
-
(417,092)
6,658,261
417,092
198,920,353
-
(8,002,092)
190,918,261
8,377,092
8,985,113
1,473,875
(1,322,450)
9,136,538
1,223,380
-
450,000
(150,000)
300,000
100,000
7,188,236
-
(7,188,236)
-
-
23,354,496
16,730,953
(17,536,410)
22,549,039
18,791,729
136,885,298
11,904,031
(2,135,499)
146,653,830
-
18,020,000
71,143,648
(70,643,648)
18,520,000
5,460,000
$
393,353,496
$
101,702,507
$
(106,978,335)
$
388,077,668
$
33,952,201
$
148,600,000
$
43,815,000
$
(52,430,000)
$
139,985,000
$
2,790,000
Revenue Bonds Payable
Plus Deferred Amounts:
For Issuance Premium
Net Bonds Payable (2)
Contracts Payable
2,072,295
8,428,233
(1,603,013)
8,897,515
634,345
150,672,295
52,243,233
(54,033,013)
148,882,515
3,424,345
71,842
-
-
71,842
-
51,071,271
2,620,516
-
53,691,787
-
1,030,080
1,200,773
(1,234,305)
996,548
199,648
9,964,770
601,969
(107,988)
10,458,751
-
Other Long-Term Liabilities
2,641,723
18,486
2,660,209
-
$
215,451,981
$
56,684,977
$
(55,375,306)
$
216,761,652
$
3,623,993
(1)– Deferred amounts on refunding in the amount of $2,479,089 are now classified as deferred
outflows and is not included in the beginning balance.
(2)– Deferred amounts on refunding in the amount of $662,619 are now classified as deferred
outflows and is not included in the beginning balance.
E-20
SEPTEMBER 30, 2013
NOTE 8
Long-term liabilities are typically liquidated by the individual fund to which the liability is
directly associated. Claims and judgments are typically liquidated by the General Fund and
charged to the funds to which a portion of the liabilities directly relates.
The self-insurance claims liability consists of $18,520,000 for worker’s compensation,
general liability and employment practices, and automobile liability.
Revenue Bonds and Interlocal Agreements
Revenue bonds payable and interlocal agreements at September 30, 2013, are comprised
of the following individual issues:
Description
Amount
Business-Type Activities Revenue Bonds Payable
$56,815,000 in Utility System Revenue Bonds, Series
2004A and Utility System Revenue Bonds, Series
204B; due in annual installments of $2,150,263 to
$7,756,000, including interest through October 1, 2034;
interest ranged from 2.1% to 5.0%; collateralized by an
irrevocable senior lien on gross revenues derived from
the operation of the system and certain connection
charges.
$
49,810,000
2010 (Federally Taxable-Build America Bonds-Direct
Subsidy); due in annual installments of $2,751,466 to
$9,766,466, including interest, through October 1,
2004, with principal payments beginning October 1,
2035; interest rate of 5.935%; collateralized by an
charges.
46,360,000
2012 (Federally Taxable-Build America Bonds-Direct
Subsidy); due in annual installments of $4,816,750 to
$4,818,000, including interest, through October 1,
2029, with principal payments beginning October 1,
2018; interest rate of 3.6%; collateralized by an
charges.
43,815,000
Total Business-Type Activities Revenue
Bonds Payable
E-21
$
139,985,000
SEPTEMBER 30, 2013
NOTE 8
Revenue Bonds and Interlocal Agreements (continued)
Governmental Activities Revenue Bonds Payable
$38,670,000 in Constitutional Fuel Tax Revenue
Refunding Bonds, Series 2006 due in annual
installments of $1,240,000 to $2,975,000, including
interest, through December 2026; interest ranged from
3.5% to 5.0%; collateralized by a pledge of
Constitutional Fuel Tax Revenues accruing to the
County under provisions of Section 206.41, Florida
Statutes.
$
28,380,000
$88,885,000 in Public Safety Capital Improvement
Revenue Bonds, Series 2005, due in annual
installments of $2,270,629 to $5,589,565, including
interest through December 2036; interest ranged from
3.1% to 5.1%; collateralized by a pledge of revenues
from the State Revenue Sharing Trust Fund and 8% of
the 10% public service tax accruing to the County
under provisions of Chapter 210, Florida Statutes,
Section 212.20 and Chapter 125, Florida Statutes,
Section 166.231.
77,285,000
$32,265,000 in Capital Improvement Refunding
Revenue Bonds, Series 2010 due in installments of
$2,779,050 to $2,784,200, including interest, through
December 2026; interest ranged from 3.0% to 5.0%;
collateralized by a pledge of local government half-cent
sales tax accruing to the County under provisions of
Part VI of Chapter 218, Florida Statutes.
29,260,000
$53,035,000 in Transportation Improvement Refunding
Revenue Bonds, Series 2010 due in installments of
$4,172,725 to $4,176,975, including interest, through
December 2029; interest ranged from 2.5% to 5.0%;
collateralized by a pledge of revenues from a 5-cents
per gallon local option fuel tax and 2.0% public service
tax accruing to the County under provision of Chapter
125, Florida Statutes, Sections 336.025 and 166.231.
49,335,000
Total Governmental Activities Revenue
Bonds Payable
E-22
184,260,000
SEPTEMBER 30, 2013
NOTE 8
Governmental Activities - Interlocal Agreements
$2,000,000 interlocal agreement with the City of
Lakeland ( Lakeland Center) due in annual installments
not to exceed $321,257, through October 2017;
collateralized by a portion of the local 4th cent tourism
tax accruing to the County under provisions of Chapter
125, Florida Statutes.
$
1,241,425
Lakeland (Joker Marchant Stadium) due in annual
installments not to exceed $201,958, through
September 2016; collateralized by a portion of the local
4th cent tourism tax accruing to the County under
provisions of Chapter 125, Florida Statutes.
550,113
Auburndale due in annual installments not to exceed
$937,631, through September 2022; collateralized by a
portion of the local 5th cent tourism tax accruing to the
County under provisions of Chapter 125, Florida
Statutes.
7,345,000
Total Governmental Activities Interlocal Agreements
Total Governmental Activities Revenue
Bonds and Interlocal Agreements
E-23
9,136,538
$
193,396,538
SEPTEMBER 30, 2013
NOTE 8
Annual debt service requirements to maturity for bonds and interlocal agreements are as
follows:
Year Ended September 30,
2014
2015
2016
2017
2018
2019-2023
2024-2028
2029-2033
2034-2038
2039-2043
Total
Principal
Interest
$
9,183,380
$
8,530,555
9,603,380
8,181,076
9,996,233
7,815,088
10,323,545
7,406,612
8,510,000
6,869,189
48,680,000
28,593,413
52,305,000
16,527,841
34,165,000
7,724,538
10,630,000
551,706
$ 193,396,538
$ 92,200,018
$
$
Business-type Activities
Principal
Interest
2,790,000
$
7,222,795
2,925,000
7,087,282
3,065,000
6,945,089
3,215,000
6,795,713
3,080,000
6,638,804
17,640,000
30,954,015
22,205,000
26,384,829
31,320,000
20,428,963
37,110,000
12,212,691
16,635,000
2,217,168
139,985,000
$ 126,887,349
There are a number of limitations and restrictions contained in the various bond indentures.
As of September 30, 2013, all funds are being maintained in accordance with the
ordinances and resolutions.
Revenue Bonds – Defeased Bonds
Government Funds – Transportation Improvement Bonds
During 2004, the Board partially defeased the Transportation Improvement Revenue
Bonds, Series 2000 by depositing funds in an irrevocable trust with an escrow agent to
provide for all future debt service payments on these bonds. For financial reporting
purposes the debt has been considered defeased and, therefore, removed as a liability of
the Board. As of September 30, 2013, the amount of this defeased debt outstanding but
removed as a liability is $39,845,000.
During 2011, the Board partially defeased the Transportation Improvement Revenue
Bonds, Series 2004 by depositing funds in an irrevocable trust with an escrow agent to
provide for all future debt service payments on these bonds. For financial reporting
purposes the debt has been considered defeased and, therefore, removed as a liability of
the Board. As of September 30, 2013, the amount of this defeased debt outstanding but
removed as a liability is $45,400,000.
Government Funds – Capital Improvement Bonds
During 2004, the Board partially defeased the Capital Improvement Revenue Bonds, Series
2000 by depositing funds in an irrevocable trust with an escrow agent to provide for all
future debt service payments on these bonds. For financial reporting purposes the debt has
been considered defeased and, therefore, removed as a liability of the Board. As of
September 30, 2013, the amount of this defeased debt outstanding but removed as a
liability is $22,940,000.
E-24
SEPTEMBER 30, 2013
NOTE 8
Revenue Bonds – Defeased Bonds (Continued)
Government Funds – Capital Improvement Bonds (Continued)
During 2011, the Board defeased the Capital Improvement Refunding Revenue Bonds,
Series 2004, by depositing funds in an irrevocable trust with an escrow agent to provide for
all future debt service payments on these bonds. For Financial reporting purposes, the debt
has been considered defeased and, therefore, removed as a liability of the Board. As of
Government Funds – Consitutional Fuel Tax Revenue Bonds
During 2007, the Board defeased the Constitutional Fuel Tax Bonds, Series 1996, by
depositing funds in an irrevocable trust with an escrow agent to provide for all future debt
service payments on these bonds. For financial reporting purposes, the debt has been
considered defeased and, therefore, removed as a liability of the Board. As of
Enterprise Funds –Utility System Revenue Bonds
During 2004, the Board defeased the Utility System Revenue Bonds, Series 1997, by
service payments on these bonds. For Financial reporting purposes, the debt has been
During 2013, the Board defeased the Utility System Revenue Bonds, Series 2003, by
service payments on these bonds. For Financial reporting purposes, the debt has been
Revenue Bonds – Pledged Future Revenues
Polk County Board of County Commissioners has pledged future water and sewer
customer revenues, net of specified operating expenses, to repay $139,985,000 in revenue
bonds issued in 2004, 2010 and 2012. Proceeds from the bonds were used to finance the
cost of the acquisition and construction of additions, extensions and improvements to the
System. Principal and interest on the bonds are payable through 2043, from the water and
sewer gross revenues and connection charges. Annual principal and interest on the bonds
are expected to require approximately 16% percent of such gross revenues and connection
charges. Principal and interest paid in the year ended September 30, 2013 and 2012 were
$8,712,916 and $9,544,265.
E-25
SEPTEMBER 30, 2013
NOTE 8
Closure and Long-Term Care Costs
State and federal laws and regulations require that a final cover be placed on all landfill
sites when they are no longer accepting waste and that certain maintenance and
monitoring functions are performed at the respective sites for thirty years after closure.
Although closure and long-term care costs will be paid only near or after the date that the
landfill stops accepting waste, a portion of these closure and long-term care costs are
reported as an operating expense in each period based on the landfill capacity used as of
each balance sheet date. The $53,691,787 reported as landfill closure and long-term care
liability at September 30, 2013 represents the cumulative amount reported to date based on
the use of 87.89% of the estimated capacity for all landfill sites. The remaining $7,399,194
will be recognized as the remaining estimated capacity is filled. These amounts are
estimated based on what it would cost to perform all closure and long-term care as of
September 30, 2013. Expected closure dates for County landfills range from 2013 to 2020.
Actual costs may be higher due to inflation, changes in technology, or changes in
regulations.
State and federal laws and regulations require that annual contributions be made to a trust
to finance closure and long-term care. At September 30, 2013, cash, investments and
receivables of $62,743,482 are held for these purposes; therefore the County is in
compliance with financial assurance requirements. These assets are reported as restricted
assets on the Statement of Net Position. Future inflation costs are expected to be paid from
interest earnings on these annual contributions. However, if interest earnings are
inadequate or additional long-term care requirements are determined (due to changes in
technology or applicable laws or regulations, for example), these costs may need to be
covered by charges to future landfill users or from future tax revenue.
The liability for compensated absences is liquidated in the fund in which an employee’s
payroll expense is normally recorded. The significant funds that have been used in prior
years to liquidate this liability have been the General, Transportation, and Fire District
Funds. Total available vacation and sick leave hours are multiplied by the current pay rate
to determine the accrued liability. The County uses the last-in, first-out (LIFO) method of
recognizing the use of vacation and sick leave hours. Employees are charged for the last
day of vacation or sick leave earned when the leave is used. Thus, unless it is anticipated
that vacation or sick leave will be used in excess of a normal year's accumulation, no
additional expenditures are accrued.
In an effort to combat the rising cost of insurance premiums and the unavailability of
coverage, the County has initiated self-insured worker’s compensation, general liability,
employment practices and automobile liability programs. The programs effectively
interrelate between an independent risk manager, a loss control consultant, an excess
reinsurer, and County management.
E-26
SEPTEMBER 30, 2013
NOTE 8
The changes in aggregate liability for claims and judgments for the past two fiscal years
are:
Beginning
Balance
2013
Worker's Compensation
General and Employment
Practices Liability
Automobile Liability
$
13,160,000
$
3,600,000
1,260,000
Total Self-Insurance Liability
2012
Worker's Compensation
General and Employment
Practices Liability
Automobile Liability
53,341,284
Ending
Balance
Payments
$
11,950,489
5,851,875
54,041,284
$
10,720,489
5,881,875
12,460,000
4,830,000
1,230,000
$
18,020,000
$
71,143,648
$
70,643,648
$
18,520,000
$
13,760,000
$
50,797,398
$
51,397,398
$
13,160,000
2,510,000
1,680,000
Total Self-Insurance Liability
NOTE 9
Incurred
Claims
$
17,950,000
9,436,682
5,072,123
$
65,306,203
8,346,682
5,492,123
$
65,236,203
3,600,000
1,260,000
$
18,020,000
RISK MANAGEMENT
The County is exposed to various risk of loss related to theft of , damage to and destruction
of assets, errors and omissions, injuries to employees and natural disasters. A selfinsurance program is effectively maintained by the County to administer insurance activities
related to workers’ compensation insurance, general and employment practices liability,
auto liability and health. The County’s self -insurance program covers operations of Board
of County Commissioners and the constitutional officers. Under the program, the County
has retention limits for each type of claim, which is covered by commercial insurance
purchased by the County. Additional information regarding the self-insured employee
health plan can be found in Note 7. The County also maintains fully-insured policies with
several different carriers for property insurance with the total insured value for all properties
estimated at $762,000,000.
Claim Type
Workers Compensation
General & Employment
Practices Liability
Auto Liability
Employee Health
Property
County Coverage
(deductible/self-insured amount)
$1,250,000 Self-insured Retention
$1,000,000 Employers Liability
$1,000,000
Sovereign immunity limits only:
$200,000 any one person
$300,000 any one claim
$750,000
Deductible $250,000 except for as below:
Named Windstorm 2%
$10,000 Builders Risk- Utilities
$5,000 PGTV Truck
E-27
Excess Carrier’s Coverage
Workers Compensation – Statutory
Employers Liability – No Excess Coverage
$7,000,000 Per Occurrence
$1,000,000 Sublimit for Sexual Molestation
No Excess Coverage
100% Self-insured
Unlimited
$150,000,000 Named Windstorm
$ 25,000,000 Earthquake Aggregate
$ 20,000,000 Flood Aggregate
$ 10,000,000 Flood Aggregate (zones A & V)
SEPTEMBER 30, 2013
NOTE 10
PENSION PLAN
All full-time employees are participants in the Florida Retirement System (FRS), a multiple
employer cost-sharing public retirement system. The FRS, which is controlled by the State
Legislature and administered by the State of Florida, Department of Administration, Division
of Retirement, covers approximately 625,000 full-time employees of various governmental
units within the State of Florida.
Effective July 1, 2011, all participants in FRS, except Deferred Retirement Option Program
(DROP) participants and reemployed retirees who are not eligible for renewed
membership, are required to contribute 3% of their gross compensation to the FRS.
Employer required contributions are based upon state-wide rates established by law. From
October 1, 2012 through June 30, 2013, the compensation rates by class were as follows:
Regular, 5.18%; Special Risk, 14.90%; Senior Management, 6.30%; County Elected
Officers, 10.23%; DROP, 5.44%. The rates above include the appropriate retirement
contribution rate, 1.11%, Health Insurance Subsidy (HIS) contribution rate, 0.03%
administrative/educational fee, and any applicable Unfunded Actuarial Liability (UAL) rates.
Effective July 1, 2013 through October 30, 2013, the compensation rates by class are as
follows: Regular, 6.95%; Special Risk, 19.06%; Senior Management, 18.31%; County
Elected Officers, 33.03%; DROP, 12.84%. The rates above include the appropriate
retirement contribution rate, 1.20% Health Insurance Subsidy (HIS) contribution rate, 0.03%
administrative/educational fee, and any applicable Unfunded Actuarial Liability (UAL) rates.
The County contributed the required amount to FRS for each of the past three years. The
contributions made during the years ending September 30, 2013, 2012, and 2011 were
$17,707,343, $15,926,948, and $26,283,729 respectively. The County has determined, in
accordance with GASB Statement No. 27, that there was no pension liability before or at
transition.
The County has no responsibility to the FRS other than to make the periodic payments
required by the State statutes. The Department of Management Services, Florida Division
of Retirement issues a publicly available financial report that includes financial statements
and required supplementary information for the FRS. The report is available on their
website: http://www.dms.myflorida.com/human_resource_support/retirement.
Participants in the FRS can choose from the following two options:
(1) FRS Pension Plan
For employees enrolled prior to July 1, 2011, the System provides for vesting of benefits
after 6 years of creditable service. Normal retirement benefits are available to regular
employees who retire at or after age 62 with 6 or more years of service. Early retirement is
available after 6 years of service with a 5% reduction of benefits for each year prior to the
normal retirement age. Retirement benefits are based upon age, average compensation
and years of service credit where average compensation is computed as the average of an
individual’s five highest years of earnings.
E-28
SEPTEMBER 30, 2013
NOTE 10
PENSION PLAN (CONTINUED)
For employees enrolled in the System on or after July 1, 2011, vesting of benefits begins
after 8 years of creditable service. Normal retirement benefits are available to these
employees who retire at or after age 65 with 8 or more years of service with a 5% reduction
of benefits for each year prior to the normal retirement age. Retirement benefits are based
upon age, average compensation and years of service credit where average compensation
is computed as the average of an individual’s eight highest years of earnings.
(1) FRS Pension Plan (continued)
For employees whose covered employment ended before July 1, 2001, the Plan provides
for vesting of benefits after 10 years of service. However, if after termination, a member
returns to covered employment, the member will vest after the number of creditable years
required on the date of the return to covered employment once the member completes the
lesser of one year of employment, or the number of months that were required for the
employee to vest when they first terminated employment.
Early retirement is available after vesting with a 5% reduction of benefits for each year prior
to the normal retirement requirement. Retirement benefits are based upon age, average
final compensation, and years of creditable service.
(2) FRS Investment Plan
Effective with the State fiscal year 2002, the State created a new retirement plan within the
System; the Public Employee Optional Retirement Program (the “FRS Investment Plan”).
Any regular member, not in DROP is eligible to participate in the FRS Investment Plan.
Employer contributions are made to the FRS Investment Plan, which holds the
contributions in individual investment accounts for each participating employee. The
employee directs the investments in their account to the investments funds available
through the Plan. These investment accounts vest to the employee after 1 year of service
and may be withdrawn by the employee 90 days after termination or retirement from a
participating employer in the System. Alternately, the funds may remain in the investment
account until the employee reaches normal retirement age or some earlier date, at the
employee’s choosing. Employees are not required to contribute to the FRS Investment
Plan.
NOTE 11
OTHER POSTEMPLOYMENT BENEFITS
Plan Description
The postemployment healthcare benefits plan is a single-employer defined benefit plan
administered by the County. In accordance with Section 112.0801, Florida Statutes and as
authorized by County Ordinance 2011-023 effective October 3, 2011, the County offers
retiring employees and their dependents the opportunity to continue participating in group
insurance and the self-insured health plan. Retirees who do not choose to continue
participation within thirty days of their employment termination date lose eligibility to
participate in the future.
E-29
SEPTEMBER 30, 2013
NOTE 11
OTHER POSTEMPLOYMENT BENEFITS (CONTINUED)
The premiums for the retirees and dependents participating in the group insurance and selfinsured health plans are the same as that of active employees. Prior to January 1, 2013,
retirees age 65 and older could choose to participate in either the fully-insured Medicare
Advantage Plan or the self-insured Indemnity Plan. Beginning January 1, 2013, these
retirees will be required to participate in the fully-insured Medicare Advantage Plan. The
County reduces the cost of health insurance for a retiree hired before January 1, 2009, by
contributing toward the payment of the retiree’s monthly premium for single coverage health
insurance. If an employee retires before January 1, 2012, the County contributes 3% of the
retiree’s premium for each full year of employment that the employee had with a Polk
County agency which is covered by the County’s health plan. The maximum benefit that
the County will provide to a retiree at 3% per year is 75% of the premium. If an employee
retires after January 1, 2012, the County contributes the lesser of $16 per year of service,
up to a maximum of $400 or 3% per year of service up to a maximum of 75%.
The employee must immediately begin receiving Florida Retirement System (FRS) benefits
after leaving County employment to qualify for this benefit. However, an exception to this
qualification is that employees who have been employed with County government a
minimum of 15 years and terminated their employment prior to January 1, 2012, can also
qualify for this benefit without immediately receiving FRS benefits.
The County does not make a contribution toward premiums for any employee hired after
December 31, 2008. The County also subsidizes the premium rates paid by non-Medicare
eligible retirees and their dependents by allowing them to participate in the insurance plans
at the blended group (implicitly subsidized) premium rates for both active and non-Medicare
eligible retired employees. These rates provide an implicit subsidy because, on an
actuarial basis, their current and future claims are expected to result in higher costs to the
plan on average than those of active employees. Retirees and their dependents are
required to enroll in the Federal Medicare program for their primary coverage as soon as
they are eligible in order to qualify for enrollment in the County’s Medicare plan option. The
postemployment healthcare plan does not issue a stand-alone report.
Funding Policy
The County has not advance-funded or established a funding methodology for the annual
Other Postemployment Benefit (OPEB) or the net OPEB obligation. For the year ended
September 30, 2013, 1,053 retirees and dependents received healthcare benefits. The
County provided contributions of $2,243,488 toward the annual OPEB cost comprised of
premium contributions and claim benefit payments made on behalf of retirees net of retiree
contributions totaling $3,481,757.
Annual OPEB Cost and Net OPEB Obligation
The County’s annual OPEB cost (expense) is calculated based on the annual required
contributions of the employer (ARC), and 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 normal costs each year and amortize any
unfunded actuarial liabilities over a period not to exceed thirty years.
E-30
SEPTEMBER 30, 2013
NOTE 11
Annual OPEB Cost and Net OPEB Obligation (Continued)
The following table shows the County’s annual OPEB cost for the year ended
September 30, 2013, the amount contributed to the plan and changes in the County’s net
OPEB obligation:
Annual Required Contribution
Interest on Net OPEB Obligation
Adjustment to ARC
Annual OPEB Cost (Expense)
Contribution toward the OPEB Cost
Increase in Net OPEB Obligation
Net OPEB Obligation, Beginning of Year
Net OPEB Obligation, End of Year
$
$
12,468,000
5,874,000
(5,836,000)
12,506,000
(2,243,487)
10,262,513
146,850,068
157,112,581
The County’s annual OPEB cost, the percentage of annual OPEB cost contributed to the
plan and the net OPEB obligation as of September 30, 2013 and the two preceding years
were as follows:
Fiscal
Year Ended
Annual
OPEB Cost
September 30, 2013
September 30, 2012
September 30, 2011
$ 12,506,000
12,479,000
16,023,000
Percentage of Annual
OPEB Cost
Contributed
18.00%
53.04%
15.78%
New OPEB
Obligation
$ 157,112,581
146,850,068
140,989,426
Fund Status and Funding Progress
The funding status as of September 30, 2013 was as follows:
Actuarial Accrued Liability (a)
Actuarial Value of Plan Assets (b)
Unfunded Actuarial Accrued Liability (c)=(a-b)
Funded Ratio (b/a)
$
Covered Payroll (Active Plan Members) (d)
UALL as a Percentage of Covered Payroll (c/d)
$
$
176,839,000
176,839,000
0.00%
180,556,578
97.94%
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 and termination, mortality, and the
healthcare costs trends. 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.
E-31
SEPTEMBER 30, 2013
NOTE 11
Actuarial Methods and Assumptions (continued)
The schedule of funding progress, presented as required supplementary information
following the notes to the financial statements, presents multiyear trend information about
whether the actuarial value of plan assets is increasing or decreasing over time relative to
the actuarial accrued liability for benefits.
Projection of benefits for financial reporting purposes are based on the substantive plan
provisions as understood by the employer and participating members, and include the type
of benefits provided at the time of each valuation and the historical pattern of sharing
benefit costs between the employer and participating members. The actuarial methods and
assumptions used include techniques that are designed to reduce the effect of short-term
volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the
long-term perspective of the calculations.
The results reported for the year ended September 30, 2013 are based on the October 1,
2012 actuarial valuation. This valuation used the projected unit credit actuarial method.
Because the OPEB liability is currently unfunded, the actuarial assumptions include a 4.0%
rate of return on unrestricted general funds, which is the County’s long term expectation of
investment returns under its investment policy, and a payroll growth assumption of 3.0%
per year, which is also assumed to equal the inflation rate. The initial healthcare cost trend
rates are 9.5% pre-Medicare and 7.9% post-Medicare, reducing to ultimate rates of 5%.
The plan does not include any post-retirement benefit increases.
The County’s Actuarial Liability has increased from $168,756,000 at October 1, 2010 rollforward valuation, to $176,839,000 at October 1, 2012. The increase in liability is due
primarily to increased plan costs.
NOTE 12
OPERATING LEASES
The following is a schedule by years of future minimum rental payments required under
operating leases for certain land, buildings and equipment used in governmental operations
that have initial or remaining noncancelable lease terms as of September 30, 2013:
2014
2015
2016
2017
2018
Later Years
Total Minimum Payments Required
$
$
Amount
1,443,289
1,295,460
1,185,691
720,747
556,756
1,355,044
6,556,987
Rent expenditures under cancelable and noncancelable lease arrangements for the year
ended September 30, 2013 were $1,925,743. The leases generally provide for automatic
termination in any year in which the County fails to appropriate funds for rental payments.
E-32
SEPTEMBER 30, 2013
NOTE 13
GOVERNMENTAL FUND BALANCE CLASSIFICATIONS
The County’s governmental fund balances as of September 30, 2013 were classified as
follows:
Nonspendable:
Prepaid Expenses
Advances
Inventories
Total nonspendable
General Fund
Nonmajor
Governmental Funds
$
$
477,536
1,278,101
218,329
1,973,966
Restricted:
Economic Development
General County Admin Events
Human Services Multi-Purpose Centers and
Healthy Families Program
Roadway Maintenance, Operations, and Capital
Community Redevelopment Areas
Emergency Services
Libraries, Museums and Parks, Maintenance
Law Enforcement
Court Related Operation/Technology
Debt Service
Tourism Development
Indigent Healthcare
Impact Fees
Building Code Enforcement
Election Activities
GIS Parcel Map Maintenance
Total restricted
Unassigned
Total Fund Balances
$
477,536
1,278,101
218,329
1,973,966
1,436,488
35,473
-
1,436,488
35,473
13,886
234,266
901,062
1,064,416
169,454
3,855,045
23,590,494
37,720,554
9,005,449
19,693,699
1,986,293
4,071,727
9,451,663
3,195,925
24,887,491
19,847,925
182,709
426,601
154,060,530
13,886
23,590,494
37,720,554
9,005,449
19,927,965
2,887,355
5,136,143
9,451,663
3,195,925
24,887,491
19,847,925
182,709
426,601
169,454
157,915,575
1,573,131
22,625,211
24,198,342
1,573,131
33,422,171
56,047,382
33,422,171
57,620,513
23,075,160
-
23,075,160
23,075,160
9,115,006
7,569,826
1,950,209
2,606,779
21,241,820
9,115,006
7,569,826
1,950,209
2,606,779
44,316,980
37,330,730
(1,278,101)
36,052,629
Committed:
Roadway Maintenance, Operations,
and Capital
Environmental Lands Acquisition
and Maintenance
Total committed
Assigned:
Project Excess of Expected Expenditures
Over Expected Revenues
Roadway Maintenance, Operations,
and Capital
Debt Service
General Capital Improvement Projects
Environmental Land Maintenance
Total assigned
-
Total Governmental
Funds
$ 67,808,032
E-33
$
230,071,631
$
297,879,663
SEPTEMBER 30, 2013
NOTE 14
PROPERTY TAX REVENUES
Taxable values for all property are established as of January 1, which is the date of lien, for
the fiscal year starting October 1. Property tax revenues recognized for the year ended
September 30, 2013 were levied in January 2012. All taxes are due and payable on
November 1, or as soon as the assessments roll is certified and delivered to the Tax
Collector. Discounts are allowed for early payment at the rate of four percent in November,
three percent in December, two percent in January, and one percent in February. Taxes
paid in March are without discount. All unpaid taxes become delinquent as of April 1.
Virtually all unpaid taxes are collected via the sale of tax certificates on or prior to June 1;
therefore, there were no material taxes receivable at fiscal year-end.
NOTE 15
AFFORDABLE HOUSING ASSISTANCE TRUST FUND – STATE HOUSING INITIATIVE
PARTNERSHIP PROGRAM (S.H.I.P.)
The Affordable Housing Assistance Trust Fund (S.H.I.P.) is included in the Nonmajor
Governmental Funds. Separate financial information for this fund is reported below:
ASSETS
Interest Receivable
Total Assets
LIABILITIES AND FUND BALANCE
Vouchers Payable
Accrued Liabilities
Unearned Revenue
$
1,875,980
3,481
$
1,879,461
$
7,392
1,059
1,871,010
Total Liabilities
1,879,461
FUND BALANCE
-
Total Liabilities and Fund Balance
E-34
$
1,879,461
SEPTEMBER 30, 2013
NOTE 15
AFFORDABLE HOUSING ASSISTANCE TRUST FUND – STATE HOUSING INITIATIVE
PARTNERSHIP PROGRAM (S.H.I.P.) (CONTINUED)
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Intergovernmental
Interest Income
Net Increase (Decrease) in
Fair Value of Investments
Miscellaneous Revenues
Total Revenues
1,110,000
6,000
$
Actual
1,110,000
6,000
$
59,363
$
(1,110,000)
53,363
100,000
1,216,000
100,000
1,216,000
(36,435)
409,821
432,749
(36,435)
309,821
(783,251)
EXPENDITURES
Total Expenditures
1,216,000
1,216,000
1,216,000
1,216,000
432,749
432,749
783,251
783,251
EXCESS (DEFICIENCY)
OF REVENUES OVER
EXPENDITURES
-
-
-
-
Fund Balance Beginning of Year
-
-
-
-
FUND BALANCE END OF YEAR
NOTE 16
$
Final
$
-
$
-
$
-
$
-
COMMITMENTS AND CONTINGENCIES
Federal Grant Programs
The County participates in a number of federal programs. Grant programs are subject to
financial and compliance audits by the grantors or their representatives. The grantor audits
of all programs for or including the year ended September 30, 2013 have not been
completed. Accordingly, the County's compliance with applicable grant requirements will be
established at some future date. The amount, if any, of expenditures which may be
disallowed by the granting agencies, cannot be determined at this time although the County
expects such amounts, if any, to be immaterial.
E-35
SEPTEMBER 30, 2013
NOTE 16
COMMITMENTS AND CONTINGENCIES (CONTINUED)
Large Contractual Commitments
The County has large contractual commitments at September 30, 2013 for the following:
Northwest Regional Utility SVC Area Improvements
Kathleen Rd. Phase II Capacity Widening
Bartow Northern Connector Phase II
Reclaimed Water ASR Testing Program
Imperial Lakes Water Treatment
Pollard Road WPF
NWRWWTF Improvements
CR 559A Berkley Rd. Phase IV
Clubhouse Rd. Safety (CR 540) Safety and Intersection Improvements
Kathleen Rd. Phase II 4-Laning Capacity Project
Contracted Maitenance on Equipment at NC Landfill
NE Regional Utility Service are Reclaimed Water ASR Testing Phase II
Hodge Street Water Production Facility Improvements
Poinciana Community Park Phase I
Install, Train and Maintain Trapzeze Software
Contracts from $50,000 to $500,000
$
4,057,619
4,033,040
2,347,306
2,147,546
2,059,715
1,795,365
1,459,932
1,095,254
930,359
755,883
754,517
728,725
626,283
521,809
515,836
7,209,564
Total
$
31,038,753
Litigation
Various suits and claims involving disputed Ad Valorem real property taxes are pending
against Polk County. Portions of these taxes have been voluntarily paid, others have been
paid under protest, and in certain instances, there are unpaid balances.
Various other suits and claims arising in the ordinary course of County operations, some of
which may involve substantial amounts, are pending against the County. While the ultimate
effect of such litigation cannot be ascertained at this time, in the opinion of counsel for the
County, the liabilities which may arise from such action would not result in losses which
would materially affect the financial position of Polk County or the results of its operations.
E-36
SEPTEMBER 30, 2013
NOTE 17
TRANSFERS
Transfer for the year ended September 30, 2013 consisted of the following:
Transfers to the General Fund from:
Waste Resource Management (Landfill) Fund
Total
Transfers to Nonmajor Governmental Funds from:
General Fund
Nonmajor Governmental Fund
Total
$
$
$
147,270
15,550,716
15,697,986
$
7,009,027
10,533,231
17,542,258
Transfers to Waste Resource Management
(Landfill) Fund from:
General Fund
$
102,216
Transfers to Utilities Fund from:
General Fund
$
11,924
Transfers to Rohr Home Fund from:
General Fund
$
8,713
Transfers are used to 1) move revenues from the fund that state law requires to collect
them to the fund that state law requires to expend them, 2) provide matching funds for
grants, 3) use unrestricted General Fund and other fund revenues to finance transportation
or other activities which must be accounted for in another fund.
NOTE 18
SUBSEQUENT EVENTS
At September 30, 2013, the Polk Commerce Centre CRA Fund had a fund balance deficit
of $1,278,101. The deficit in the Polk Commerce Centre CRA fund will be eliminated
through future receipts of Ad Valorem taxes.
On November 25, 2013, the County issued $53,630,000 in Utility System Revenue and
Refunding Bonds, Series 2013 to finance capital improvements for the Utility System and to
advance refund a portion of the Series 2004A Bonds maturing in 2015 – 2025. The County
established a 3% net present value savings for each refunded maturity. The County was
able to realize net present value savings of $254,284 or 7.32% of the $3.475 million
refunded par amount.
On March 6, 2014, the County issued $41,740,000 in Utility System Revenue and
Refunding Bonds, Series 2014 to finance capital improvements for the Utility System and to
advance refund a portion of the Series 2014 Bonds maturing in 2015 – 2034. The “net
present value savings” will be $3,042,883 over the term of the bonds. Annual savings will
average about $230,000 per year from 2015 – 2030, then decrease to $50,000 per year
from 2031 – 2034.
E-37
SCHEDULE OF FUNDING PROGRESS – OTHER POSTEMPLOYMENT BENEFITS
Actuarial
Accrued
Liability (AAL)
Entry Age (b)
Unfunded AAL
(UAAL) (b-a)
-
$ 440,042,000
$ 440,042,000
October 1, 2009
-
532,348,000
532,348,000
0.00
190,787,146
279.03
October 1, 2010
-
228,213,000
228,213,000
0.00
184,845,392
123.46
October 1, 2010 (rollforward)
-
168,756,000
168,756,000
0.00
177,648,213
94.99
October 1, 2012
-
176,839,000
176,839,000
0.00
180,556,578
97.94
Actuarial
Valuation Date
October 1, 2007 (rollforward)
Actuarial
Value of
Assets (a)
$
F-1
Funded
Ratio (a/b)
0.00 %
Covered
Payroll (c)
$ 193,707,695
UAAL as a
Percentage of
Covered Payroll
[(b-a)/c]
227.17 %
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
OTHER POSTEMPLOYMENT BENEFITS
The results reported for the year ended September 30, 2013 are based on the October 1,
2012 actuarial valuation. This valuation used the projected unit credit actuarial method.
Because the OPEB liability is currently unfunded, the actuarial assumptions include a 4.0%
rate of return on unrestricted general funds, which is the County’s long term expectation of
investment returns under its investment policy, and a payroll growth assumption of 3.0% per
year, which is also assumed to equal the inflation rate. The initial healthcare cost trend
rates are 9.5% pre-Medicare and 7.9% post-Medicare, reducing to ultimate rates of 5%.
The plan does not include any post-retirement benefit increases.
The County’s Actuarial Liability has increased from $168,756,000 at October 1, 2010 rollforward valuation, to $176,839,000 at October 1, 2012. The increase in liability is due
primarily to increased plan costs.
F-2
NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS
Special revenue funds are used to account for the proceeds of specific revenue sources requiring
separate accounting because of legal or regulatory provisions or administrative action.
Special Revenue Grants Fund
This fund accounts for the various federal and state grants obtained by the County.
County Transportation Trust Fund
The main sources of revenues are from state-shared revenues and local option gas taxes. These
revenues are used for road and bridge maintenance and construction.
Tourist Development Tax Fund
The County's portion of the four and five cent tourism tax revenue is recorded in this fund. These
revenues are to be used to promote tourism for the County.
Impact Fee Fund
This fund accounts for impact fees used for the construction or improvement of the County’s
emergency medical system, roads, and correctional facilities.
Lake and River Enhancement Fund
The annual County vessel registration fee revenues are recorded in this fund. These revenues are
used for the maintenance and enhancement of the lakes, rivers, and waters, and for other boating
related activities.
Lighting Districts Fund
This fund accounts for the costs of providing street lighting to residents living within the boundaries of
the lighting districts. The primary revenue source is from non-ad valorem special assessments
restricted for the purpose of street lighting in special districts.
Fire Rescue Fund
This fund accounts for the costs of providing fire protection services to the residents living within the
unincorporated areas of the County. The primary revenue source is from various special assessments
to citizens to be used for fire rescue and emergency medical services.
Emergency 911 Fund
This fund accounts for fees provided by the Florida emergency telephone act and by ordinance No. 8623. These revenues are to be used for the acquisition, implementation, and maintenance of public
safety answering point equipment and "911" service features.
Hazardous Waste Fund
This fund accounts for costs of regulations and inspections of hazardous waste facilities. The primary
revenue source is from a 3% tax on gross receipts on commercial hazardous waste facilities pursuant
to Section 403.7215, Florida Statutes. According to Florida Statutes, these funds are restricted to be
spent on the regulation and inspection of hazardous waste facilities.
G-1
Radio Communications Fund
This fund accounts for the cost of constructing and maintaining the County-wide 800 megahertz radio
communications system. The primary revenue source is from Court Fines.
Law Enforcement Trust Fund
This fund accounts for the monies obtained from cash forfeitures and the sale of property and
equipment confiscated by the Sheriff as provided for in Chapter 932, Florida Statutes, the amounts in
the fund are to be expended only for certain law enforcement purposes.
Land Management Trust Fund
This fund accounts for monies obtained from ad valorem taxes, which may only be expended for the
purchase and management of environmentally sensitive lands.
Building Fund
This fund accounts for building permit fees. Revenues are used solely to defer the costs of inspections
and to enforce the building code, as permitted by Section 125.56 and 553.80, Florida Statutes.
North Ridge CRA Fund
rehabilitation, conservation, or redevelopment of the north ridge area of unincorporated Polk County.
Indigent Health Care Fund
This fund accounts for receipts and disbursements of monies received from the discretionary half-cent
sales tax approved by Polk County voters. Monies may be expended only for healthcare services for
qualified residents, including but not limited to, the indigent and medically poor.
Harden/Parkway CRA Fund
This fund was established in 2004 and has a 40-year sunset date. This fund accounts for monies
obtained from ad valorem taxes, which may only be expended to fund the design, construction, and
payment for all components of the transportation improvements to the harden/parkway area.
Polk Commerce Centre CRA Fund
This fund was established in 2006 when Polk County commissioners were assigned to the CRA board.
This fund accounts for monies obtained from ad valorem taxes, which may only be expended to fund
the design, construction, and payment for all components of the transportation improvements to the
Polk Commerce Centre area.
Leisure Services MSTU Fund
The leisure services MSTU was established in 2005 to provide and maintain expanded public access to
parks and recreation areas and activities, by improving, acquiring, and operating parks, recreation
areas and facilities, historical venues and trails within unincorporated areas of the county. Revenues
are provided by ad valorem taxes.
G-2
Libraries MSTU Fund
The libraries MSTU fund was established in 2005 to provide and maintain expanded public access to
library facilities and programs by improving, acquiring, constructing, and operating library facilities
within the unincorporated areas of the County. Revenues are provided by ad valorem taxes.
Transportation 1.0 Mill Fund
This fund accounts for a 1 mill ad valorem intended to narrow the transportation infrastructure gap. This
infrastructure gap is made up of many types of unfunded transportation projects including, but not
limited to: resurfacing, stabilization of unpaved roads, roadway drainage, capacity issues, and
substandard roads.
Eloise CRA Fund
rehabilitation, conservation, or redevelopment of the Eloise area.
Clerk of the Circuit Courts – Court Fund
This fund accounts for court-related financial resources. The primary revenue source is revenue
sharing from Florida Clerks of Court Operations Corporation and is restricted for court-related
operations.
Unbudgeted Other Special Revenue Funds
The Clerk of Courts' Records Modernization Trust accounts for the proceeds of specified revenue
sources that are legally restricted to expenditures for specified purposes. The Sheriff's Other Special
Revenue Funds (Grants Fund and Other Governmental Funds) account for the proceeds of specific
revenue sources related to law enforcement education, law enforcement equipment, and other
governmental activities that are legally restricted or committed to expenditures for these specified
purposes. The Supervisor of Elections’ Special Revenue Grants Fund accounts for the proceeds and
expenditures of grants that are contractually restricted for election related expenditures.
DEBT SERVICE FUNDS
Debt service funds are used to account for the accumulation of resources for and payment of the
County's long-term debt other than those payable from the operations of enterprise funds.
Public Safety Capital Improvement Revenue Bonds, Series 2005 Fund
The County maintains an interest and Sinking Fund (debt service fund) for the Public Facilities
Revenue Bonds—2005 Fund. The transactions in this fund during the year are limited and are primarily
only the interest and principal payments required for the fund. Debt service is funded by the public
service tax and interest on pooled cash.
Constitutional Fuel Tax Revenue Refunding Bonds, Series 2006 Fund
This fund accumulates monies for the payment of the $38,670,000 Constitutional Fuel Tax Revenue
Refunding Bonds, Series 1996, which are serial bonds, due in annual installments of $1,240,000 to
$2,975,000 through December 2027. Principal and interest are collateralized by a pledge of the
County's share of the Constitutional (5th and 6th Cent) Fuel Tax Funds.
Capital Improvement Revenue Refunding Bonds, Series 2010 Fund
This fund accumulates monies for the payment of the $32,265,000 Capital Improvement Refunding
Revenue Bonds, Series 2010, which are serial bonds, due in annual installments of $2,779,050 to
$2,784,200 through December 2026. Principal and interest are paid from the county share of the halfcent sales tax funds received from the state.
G-3
Transportation Improvement Revenue Refunding Bonds, Series 2010 Fund
This fund accumulates monies for the payment of the $53,035,000 Transportation Improvement
Refunding Revenue Bonds, Series 2010, which are serial bonds, due in annual installments of
$4,172,725 to $4,176,975 through December 2029. Principal and interest are paid from the 5-cents per
gallon local option fuel tax and a two percent public service tax levied by the County.
Commercial Paper Program – Environmental Lands Fund
The County maintains an Interest and Sinking Fund (debt service fund) for the Commercial Paper
Program Environmental Land Fund. The accounts maintained in the fund ledger for the debt service
funds during the year are equity in pooled cash, investments, interest receivable, and fund balance.
Debt service is funded by ad valorem taxes and interest on pooled cash.
Commercial Paper Program – Parks Land Acquisition Fund
This fund was established to account for debt service payments on a commercial paper loan to
purchase land for parks.
CAPITAL PROJECT FUNDS
Capital Project Funds account for funds used for the acquisition or construction of major capital
facilities.
General Capital Improvements Fund
This fund is used to account for the acquisition, construction, modification, improvement and renovation
of major capital facilities such as buildings and parks.
Road Construction Fund
This fund is used to account for the acquisition, reconstruction, and maintenance of certain roads in the
County which are funded by public service taxes, the second local option gas taxes, and bond
proceeds.
Environmental Lands Acquisition Fund
This fund is used to account for the purchase of environmentally sensitive lands which are funded by a
0.2 mil ad valorem tax levy.
Drainage and Water Quality Fund
This fund was established to account for drainage and water quality activities.
G-4
COMBINING BALANCE SHEET
SEPTEMBER 30, 2013
Special Revenue
Special
Revenue
Grants
County
Transportation
Trust
Tourist
Development
Tax
Impact
Fees
Lake
and River
Enhancement
Lighting
Districts
Fire
Rescue
ASSETS
Accounts Receivable
Interest Receivable
Other Assets
$
3,413,249
26,003
3,481
5,092,331
1,950
$ 22,139,180
22,407
41,131
2,473,562
-
$
3,410,308
260
5,330
5,060
$ 20,058,341
37,384
-
$
1,303,634
3,656
2,353
-
$
761,179
1,674
-
$
7,268,746
806
14,656
-
Total Assets
$
8,537,014
$ 24,676,280
$
3,420,958
$ 20,095,725
$
1,309,643
$
762,853
$
7,284,208
$
1,652,101
177,083
500,997
669,996
4,405,587
7,405,764
$
$
185,612
36,582
2,839
225,033
$
$
2,867
1,253
4,120
$
182,294
891
183,185
$
172,439
778,282
7,807
958,528
LIABILITIES AND
FUND BALANCES
LIABILITIES
Vouchers Payable
Accrued Liabilities
Customer Deposits
Due to Other Funds
Unearned Revenue
Total Liabilities
FUND BALANCES
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
Total Liabilities and Fund Balances
$
1,145,373
319,267
178,902
21,910
1,665,452
1,131,250
1,131,250
23,010,828
23,010,828
8,537,014
$ 24,676,280
$
G-5
227,885
19,914
247,799
3,195,925
3,195,925
19,847,926
19,847,926
3,420,958
$ 20,095,725
1,305,523
1,305,523
$
1,309,643
579,668
579,668
$
762,853
6,325,680
6,325,680
$
7,284,208
Special Revenue
Emergency
911
Hazardous
Waste
Law
Enforcement
Trust Fund
Radio
Communications
Land
Management
Trust Fund
Building
Fund
North Ridge
CRA
Indigent
Healthcare
Harden /
Parkway CRA
$
1,526,706
2,033
-
$
263,314
483
-
$
983,655
1,784
-
$
528,286
755
-
$
32,743,914
42
60,887
-
$
1,956,290
35,354
3,607
-
$
36,984,369
69,035
-
$ 25,232,161
204,825
46,234
3,437,818
-
$
393,139
731
3,742
-
$
1,528,739
$
263,797
$
985,439
$
529,041
$
32,804,843
$
1,995,251
$
37,053,404
$ 28,921,038
$
397,612
$
57,303
21,948
1,083
80,334
$
564
257
821
$
7,169
8,933
950
17,052
$
402
402
$
14,650
7,774
32,435
54,859
$
8,518
546,819
1,255,283
1,922
1,812,542
$
141,475
1,935
36,775
180,185
$
$
389
389
1,448,405
1,448,405
$
1,528,739
262,976
262,976
$
263,797
968,387
968,387
$
985,439
528,639
528,639
$
529,041
30,143,206
2,606,778
32,749,984
$
G-6
32,804,843
182,709
182,709
$
1,995,251
$
2,463,086
1,545,832
24,629
4,033,547
36,873,219
36,873,219
24,887,491
24,887,491
37,053,404
$ 28,921,038
397,223
397,223
$
397,612
COMBINING BALANCE SHEET (CONTINUED)
SEPTEMBER 30, 2013
Special Revenue
Polk
Commerce
Centre CRA
Leisure
Services
MSTU
Libraries
MSTU
Transportation
1 Mill
Eloise
CRA
Clerk of the
Circuit Courts
Court
Fund
Unbudgeted
Other Special
Revenue Funds
ASSETS
Accounts Receivable
Interest Receivable
Other Assets
$
-
$ 17,369,730
2,243
32,951
35,767
-
$
765,734
1,339
-
$ 25,948,362
137
49,791
$
450,376
845
-
$
4,081,393
61,472
-
$
6,209,900
40,522
1,428,860
52,090
Total Assets
$
-
$ 17,440,691
$
767,073
$ 25,998,290
$
451,221
$
4,142,865
$
7,731,372
$
1,278,101
1,278,101
$
$
$
$
26
633
450
1,109
$
38,115
208,924
2,801,433
976,252
118,141
4,142,865
$
32,055
129,414
30,109
1,512,513
71,299
1,775,390
LIABILITIES AND
FUND BALANCES
LIABILITIES
Vouchers Payable
Accrued Liabilities
Customer Deposits
Due to Other Funds
Unearned Revenue
Total Liabilities
FUND BALANCES
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
(1,278,101)
(1,278,101)
$
-
836,583
95,656
17,553
949,792
16,490,899
16,490,899
$ 17,440,691
$
G-7
336
(1)
713
1,048
3,346,555
26,524
3,373,079
766,025
766,025
22,625,211
22,625,211
767,073
$ 25,998,290
450,112
450,112
$
451,221
$
4,142,865
5,955,982
5,955,982
$
7,731,372
Debt Service
Public
Safety Capital
Improvement
Revenue Bonds
Series 2005
Constitutional
Fuel Tax
Revenue
Refunding Bonds
Series 2006
Capital
Improvement
Refunding
Revenue Bonds
Series 2010
Transportation
Improvement
Refunding
Revenue Bonds
Series 2010
Commercial
Paper
Program Environmental
Lands
Commercial
Paper
Program Parks Land
Acquisition
$
2,973,339
4,832
-
$
2,442,488
4,449
-
$
4,694,053
8,730
-
$
6,885,894
12,806
-
$
680
-
$
10,634
-
$
2,978,171
$
2,446,937
$
4,702,783
$
6,898,700
$
680
$
10,634
$
2,574
2,574
$
2,370
2,370
$
4,650
4,650
$
6,822
6,822
$
-
$
-
2,876,316
99,281
2,975,597
$
2,978,171
2,438,689
5,878
2,444,567
$
2,446,937
1,737,733
2,960,400
4,698,133
$
4,702,783
2,398,925
4,492,953
6,891,878
$
6,898,700
680
680
$
G-8
680
10,634
10,634
$
10,634
COMBINING BALANCE SHEET (CONTINUED)
SEPTEMBER 30, 2013
Capital Projects
General
Capital
Improvements
Road
Construction
Environmental
Lands
Acquisition
Drainage and
Water Quality
Total All
Nonmajor
Governmental
Funds
ASSETS
Accounts Receivable
Interest Receivable
Other Assets
$
1,965,483
3,736
-
$
8,148,315
15,896
-
$
3,279,241
6,124
-
$
1,803,954
3,387
-
$
245,985,413
336,118
386,653
12,544,323
108,891
Total Assets
$
1,969,219
$
8,164,211
$
3,285,365
$
1,807,341
$
259,361,398
$
17,020
1,990
19,010
$
718,570
8,468
727,038
$
620
2,518
3,262
6,400
$
127,703
1,804
129,507
$
11,376,052
3,884,467
2,801,433
1,686,259
2,182,509
2,533,384
4,825,663
29,289,767
LIABILITIES AND
FUND BALANCES
LIABILITIES
Vouchers Payable
Accrued Liabilities
Customer Deposits
Due to Other Funds
Unearned Revenue
Total Liabilities
FUND BALANCES
Restricted
Committed
Assigned
Unassigned
Total Fund Balances
1,950,209
1,950,209
$
1,969,219
7,437,173
7,437,173
$
8,164,211
3,278,965
3,278,965
$
G-9
3,285,365
1,677,834
1,677,834
$
1,807,341
154,060,530
56,047,382
21,241,820
(1,278,101)
230,071,631
$
259,361,398
COMBINING STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES
Special Revenue
Special
Revenue
Grants
REVENUES
Taxes
Intergovernmental
Special Assessments
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
General Government
Public Safety
Transportation
Human Services
Debt Service:
Principal Retirements
Capital Projects
Total Expenditures
OVER EXPENDITURES
$
$
$
7,148,278
18,219
(55,782)
267,454
7,378,169
Impact
Fees
$
5,397
173,180
(391,251)
2,289
(210,385)
Lake
and River
Enhancement
$
153,590
295,337
9,781
(24,622)
434,086
Lighting
Districts
$
2,225,402
11,447
(17,516)
2,219,333
Fire
Rescue
$
40,380
164,981
30,619,876
103,804
(153,387)
17,931
30,793,585
25,456,375
-
5,750,123
-
167,888
639,554
1,259,294
165,440
224,278
2,368,928
-
33,660,743
-
39,038,545
25,456,375
1,116,773
256,922
7,123,818
2,066,736
389,718
2,368,928
33,660,743
3,434,756
254,351
(2,277,121)
44,368
(149,595)
(2,867,158)
1,381,814
-
(5,710,000)
-
(42,000)
-
1,050,000
(1,072,291)
-
-
(100,000)
-
2,319,703
-
1,381,814
(5,710,000)
(42,000)
(22,291)
-
(100,000)
2,319,703
591,929
(2,275,244)
212,351
(2,299,412)
44,368
(249,595)
539,321
18,888,004
36,370
9,604,835
181,918
(430,467)
610,471
28,891,131
Tourist
Development
Tax
979,582
386,978
18,371,005
12,229,328
6,703,026
368,626
(789,885)
Transfers in
Transfers out
Proceeds from Long-Term Debt
Premium on Issuance of Bonds
Payment to Refunded Bond Escrow Agent
Sources (Uses)
27,921,760
1,666,093
55
27,441
8,633,311
38,248,660
County
Transportation
Trust
1,131,250
25,286,072
$
23,010,828
2,983,574
$
3,195,925
G-10
22,147,338
$
19,847,926
1,261,155
$
1,305,523
$
(547,455)
829,263
6,873,135
579,668
$ 6,325,680
Special Revenue
Emergency
911
$
Hazardous
Waste
2,616,624
8,614
(21,279)
2,603,959
$
Law
Enforcement
Trust Fund
Radio
Communications
96,206
1,948
(5,054)
93,100
$
529,102
9,122
(18,667)
136,628
656,185
$
Land
Management
Trust Fund
201,350
3,286
(7,903)
196,733
$
Building
Fund
4,256,733
254,939
(637,238)
216,877
4,091,311
$
North Ridge
CRA Fund
3,729,984
48,024
373
12,175
(37,754)
1,707
3,754,509
$
5,789,025
293,381
(722,513)
56,200
5,416,093
Indigent
Healthcare
$
Harden /
Parkway CRA
34,270,806
68,236
202,377
(483,873)
292,199
34,349,745
$
653,683
5,494
(7,652)
651,525
2,608,132
-
67,382
-
1,065,844
-
46,229
-
794,941
-
3,149,697
-
62,875
1,037,656
205,054
32,768,060
-
-
2,608,132
67,382
1,065,844
46,229
794,941
6,580
3,156,277
1,305,585
32,768,060
-
150,504
3,296,370
598,232
4,110,508
1,581,685
651,525
(4,173)
25,718
(409,659)
-
-
-
-
-
-
(544,361)
-
-
(1,010,000)
-
-
-
-
-
-
-
(544,361)
-
(1,010,000)
150,504
3,296,370
598,232
3,566,147
1,581,685
(358,475)
378,135
29,453,614
(415,523)
33,307,072
23,305,806
755,698
(4,173)
25,718
1,452,578
$ 1,448,405
(409,659)
237,258
$
262,976
1,378,046
$
968,387
$
528,639
$
32,749,984
G-11
$
182,709
$
36,873,219
$
24,887,491
$
397,223
AND CHANGES IN FUND BALANCES (CONTINUED)
Special Revenue
Polk
Commerce
Centre CRA
REVENUES
Taxes
Intergovernmental
Special Assessments
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
General Government
Public Safety
Transportation
Human Services
Debt Service:
Capital Projects
Total Expenditures
OVER EXPENDITURES
Transfers in
Transfers out
Sources (Uses)
10,777
10,777
$
$
5,392,239
415,491
185,981
(344,858)
25,265
5,674,118
$
2,695,278
10,552
(14,015)
2,691,815
Transportation
1 Mill
$
21,606,891
5,375
262,817
(521,105)
300,230
21,654,208
Eloise
CRA
$
37,178
3,723
(8,840)
32,061
$
11,464,229
11,464,229
Unbudgeted
Other Special
Revenue Funds
$
3,475,512
1,197,313
946,742
21,439
3,654
179,755
5,824,415
11,571,361
2,808,299
29,201,328
-
36,647
5,448
-
11,786,097
-
1,857,773
3,721,658
-
5,386
155,386
11,571,361
2,808,299
29,201,328
42,095
11,786,097
5,579,431
(144,609)
(5,897,243)
(116,484)
(7,547,120)
(10,034)
-
1,485,632
(1,900,000)
-
19,809
-
100,287
-
-
-
-
-
(414,368)
19,809
100,287
-
-
-
(1,133,492)
Libraries
MSTU
Clerk of the
Circuit Courts
Court
Fund
150,000
-
(144,609)
Leisure
Services
MSTU
(1,278,101)
$
(321,868)
(6,311,611)
(96,675)
(7,446,833)
(10,034)
(321,868)
22,802,510
862,700
30,072,044
460,146
321,868
16,490,899
$
G-12
766,025
$
22,625,211
$
450,112
$
-
244,984
244,984
5,710,998
$
5,955,982
Public
Safety Capital
Improvement
Revenue Bonds
Series 2005
$
4,500,000
12,062
(50,574)
4,461,488
$
14,588
(46,567)
(31,979)
-
-
1,865,000
3,827,166
5,692,166
2,195,000
1,384,966
3,579,966
(1,230,678)
(3,611,945)
1,050,000
-
3,720,000
-
1,050,000
3,720,000
3,156,275
2,975,597
$
2,444,567
$
$
Commercial
Paper
Program Parks Land
Acquisition
6
(15)
(9)
$
26,735
10,634
37,369
-
-
-
7,189,000
88,010
7,277,010
(3,580,979)
(9)
(7,239,641)
-
3,000,000
-
-
3,415,013
-
-
3,000,000
-
3,415,013
(9)
(3,824,628)
(565,632)
(580,979)
5,263,765
$
650,000
47,248
(134,027)
563,221
Commercial
Paper
Program Environmental
Lands
1,955,000
2,189,200
4,144,200
(565,632)
2,336,512
$
2,250,000
33,083
(91,365)
2,191,718
1,570,000
1,187,350
2,757,350
108,055
(180,678)
$
Debt Service
Capital
Transportation
Improvement
Improvement
Refunding
Refunding
Revenue Bonds
Revenue Bonds
Series 2010
Series 2010
Constitutional
Fuel Tax
Revenue
Refunding Bonds
Series 2006
4,698,133
7,472,857
$
6,891,878
G-13
689
$
680
3,835,262
$
10,634
AND CHANGES IN FUND BALANCES (CONTINUED)
Capital Projects
General
Capital
Improvements
REVENUES
Taxes
Intergovernmental
Special Assessments
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
General Government
Public Safety
Transportation
Human Services
Debt Service:
Capital Projects
Total Expenditures
OVER EXPENDITURES
Transfers in
Transfers out
Sources (Uses)
$
Environmental
Lands
Acquisition
Road
Construction
18,445
(39,098)
(20,653)
$
2,600,000
91,009
(166,360)
95,500
2,620,149
$
Total All
Nonmajor
Governmental
Funds
Drainage and
Water Quality
232,028
28,445
(64,097)
196,376
$
15,080
(35,444)
82,223
61,859
$
108,827,126
3,919,944
54,756,716
6,477,474
1,677,622
32,850,675
2,088,339
(4,527,669)
10,928,674
216,998,901
-
-
-
-
13,643,870
45,399,773
1,414,741
76,187,190
18,078,973
40,514,190
16,436,912
1,053,495
1,053,495
8,324,789
8,324,789
584,539
584,539
462,077
462,077
15,890,773
8,945,580
10,424,900
246,936,902
(1,074,148)
(5,704,640)
(388,163)
(400,218)
(29,938,001)
(274,881)
-
-
(26,968)
-
-
17,542,258
(10,680,501)
-
(274,881)
-
(26,968)
-
6,861,757
(1,349,029)
(5,704,640)
3,299,238
13,141,813
1,950,209
$
7,437,173
(415,131)
(400,218)
3,694,096
$
G-14
3,278,965
(23,076,244)
2,078,052
$
1,677,834
253,147,875
$
230,071,631
SPECIAL REVENUE GRANTS FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Intergovernmental
Interest Income
Total Revenues
$
Final
51,743,692
1,612,709
6,100
23,504,072
76,866,573
EXPENDITURES
Current:
General Government
Public Safety
Transportation
Human Services
Total Expenditures
275,704
2,884,064
1,772,973
42,680,981
22,366,952
7,449,744
1,962,980
79,393,398
OVER EXPENDITURES
(2,526,825)
Transfers in
Transfers (out)
Sources (Uses)
$
27,921,760
1,666,093
55
27,441
8,633,311
38,248,660
$
979,582
386,978
18,371,005
12,229,328
6,703,026
368,626
39,038,545
872,243
(24,735,194)
53,384
55
21,341
(14,939,856)
(39,600,270)
20,475
2,158,386
1,192,603
21,823,189
10,140,822
893,313
1,709,354
37,938,142
(789,885)
(1,662,128)
2,167,149
-
2,167,149
-
1,381,814
-
(785,335)
-
2,167,149
2,167,149
1,381,814
(785,335)
3,039,392
591,929
(2,447,463)
539,321
539,321
539,321
$
52,656,954
1,612,709
6,100
23,573,167
77,848,930
20,475
3,137,968
1,579,581
40,194,194
22,370,150
7,596,339
2,077,980
76,976,687
(359,676)
$
Actual
179,645
$
G-15
3,578,713
$
1,131,250
$
(2,447,463)
COUNTY TRANSPORTATION TRUST FUND
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Taxes
Intergovernmental
Interest Income
Miscellaneous
Total Revenues
$
18,357,165
12,588
9,113,271
235,262
424,001
28,142,287
EXPENDITURES
Current:
Transportation
Total Expenditures
29,278,552
29,278,552
OVER EXPENDITURES
(1,136,265)
Transfers in
Transfers out
Sources (Uses)
Final
$
18,357,165
12,588
9,113,271
235,262
424,001
28,142,287
Actual
$ 18,888,004
36,370
9,604,835
181,918
(430,467)
610,471
28,891,131
$
530,839
23,782
491,564
(53,344)
(430,467)
186,470
748,844
27,588,553
27,588,553
25,456,375
25,456,375
2,132,178
2,132,178
553,734
3,434,756
2,881,022
(5,660,000)
(5,660,000)
(5,710,000)
(50,000)
(5,660,000)
(5,660,000)
(5,710,000)
(50,000)
(6,796,265)
(5,106,266)
(2,275,244)
25,286,072
25,286,072
25,286,072
20,179,806
$ 23,010,828
$
18,489,807
G-16
$
2,831,022
$
2,831,022
TOURIST DEVELOPMENT TAX FUND
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Debt Service:
Total Expenditures
OVER EXPENDITURES
Final
6,832,280
29,931
240,750
7,102,961
$
6,832,280
29,931
240,750
7,102,961
Actual
$
7,148,278
18,219
(55,782)
267,454
7,378,169
$
315,998
(11,712)
(55,782)
26,704
275,208
6,000,542
5,949,092
5,750,123
198,969
890,000
243,897
7,134,439
1,315,000
258,897
7,522,989
1,116,773
256,922
7,123,818
198,227
1,975
399,171
674,379
(31,478)
(420,028)
254,351
Transfers out
Sources (Uses)
(42,000)
(42,000)
(42,000)
-
(42,000)
(42,000)
(42,000)
-
(73,478)
(462,028)
212,351
674,379
2,983,574
-
2,983,574
$
2,910,096
G-17
2,983,574
$
2,521,546
$
3,195,925
$
674,379
IMPACT FEE FUND
Budget
Original
REVENUES
Special Assessments
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Public Safety
Transportation
Total Expenditures
OVER EXPENDITURES
Transfers in
Transfers out
Sources (Uses)
$
Final
223,204
223,204
$
223,204
223,204
Actual
$
5,397
173,180
(391,251)
2,289
(210,385)
Variance with
Final Budget
Positive
(Negative)
$
5,397
(50,024)
(391,251)
2,289
(433,589)
1,851,175
13,902,637
4,294,721
20,048,533
784,771
13,848,796
4,294,721
18,928,288
167,888
639,554
1,259,294
2,066,736
616,883
13,209,242
3,035,427
16,861,552
(19,825,329)
(18,705,084)
(2,277,121)
16,427,963
1,050,000
(1,387,843)
1,050,000
(1,387,843)
1,050,000
(1,072,291)
315,552
(337,843)
(337,843)
(22,291)
315,552
(20,163,172)
(19,042,927)
(2,299,412)
16,743,515
22,147,338
22,147,338
22,147,338
1,984,166
G-18
$
3,104,411
$
19,847,926
$
16,743,515
LAKE AND RIVER ENHANCEMENT FUND
Budget
Original
REVENUES
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Total Expenditures
137,944
282,664
9,429
430,037
Final
$
$
153,590
295,337
9,781
(24,622)
434,086
$
15,646
12,673
352
(24,622)
4,049
245,430
394,973
640,403
245,430
261,831
507,261
165,440
224,278
389,718
79,990
37,553
117,543
(210,366)
(77,224)
44,368
121,592
1,261,155
-
1,261,155
$
137,944
282,664
9,429
430,037
Actual
Variance with
Final Budget
Positive
(Negative)
1,050,789
G-19
1,261,155
$
1,183,931
$
1,305,523
$
121,592
LIGHTING DISTRICT FUND
Budget
Original
REVENUES
Special Assessments
Interest
Total Revenues
$
EXPENDITURES
Current:
Transportation
Total Expenditures
Final
2,756,103
2,756,103
$
Actual
2,756,103
2,756,103
$
2,225,402
11,447
(17,516)
2,219,333
2,756,103
2,756,103
2,656,103
2,656,103
-
100,000
(149,595)
Variance with
Final Budget
Positive
(Negative)
$
2,368,928
2,368,928
(530,701)
11,447
(17,516)
(536,770)
287,175
287,175
(249,595)
Transfers out
Sources (Uses)
-
(100,000)
(100,000)
-
-
(100,000)
(100,000)
-
-
-
829,263
829,263
$
829,263
G-20
$
829,263
(249,595)
(249,595)
829,263
$
579,668
$
(249,595)
FIRE RESCUE FUND
Budget
Original
REVENUES
Intergovernmental
Special Assessments
Interest Income
Miscellaneous
Total Revenues
$
Final
28,000
185,000
29,916,538
41,793
30,171,331
$
28,000
185,000
29,916,538
41,793
30,171,331
Actual
$
40,380
164,981
30,619,876
103,804
(153,387)
17,931
30,793,585
Variance with
Final Budget
Positive
(Negative)
$
12,380
(20,019)
703,338
62,011
(153,387)
17,931
622,254
EXPENDITURES
Current:
Public Safety
Total Expenditures
33,934,891
33,934,891
34,055,505
34,055,505
33,660,743
33,660,743
OVER EXPENDITURES
(3,763,560)
(3,884,174)
(2,867,158)
2,192,567
2,192,567
2,319,703
127,136
2,192,567
2,192,567
2,319,703
127,136
(1,570,993)
(1,691,607)
6,873,135
6,873,135
Transfers in
Sources (Uses)
$
5,302,142
G-21
$
5,181,528
394,762
394,762
1,017,016
(547,455)
1,144,152
6,873,135
$
6,325,680
$
1,144,152
EMERGENCY 911 FUND
Budget
Original
REVENUES
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Public Safety
Total Expenditures
2,703,529
4,531
2,708,060
$
2,866,004
2,866,004
1,294,634
G-22
$
1,226,738
$
221,667
1,452,578
$
1,448,405
(86,905)
4,083
(21,279)
(104,101)
325,768
325,768
(4,173)
1,452,578
$
2,616,624
8,614
(21,279)
2,603,959
2,608,132
2,608,132
(225,840)
1,452,578
$
2,703,529
4,531
2,708,060
Actual
2,933,900
2,933,900
(157,944)
Final
Variance with
Final Budget
Positive
(Negative)
$
221,667
HAZARDOUS WASTE FUND
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
Final
59,850
1,628
61,478
$
59,850
1,628
61,478
Actual
$
96,206
1,948
(5,054)
93,100
Variance with
Final Budget
Positive
(Negative)
$
36,356
320
(5,054)
31,622
EXPENDITURES
Current:
Total Expenditures
70,215
70,215
70,215
70,215
67,382
67,382
2,833
2,833
(8,737)
(8,737)
25,718
34,455
237,258
-
237,258
$
228,521
G-23
237,258
$
228,521
$
262,976
$
34,455
RADIO COMMUNICATIONS FUND
Budget
Original
REVENUES
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Public Safety
Total Expenditures
500,000
12,603
100,000
612,603
$
1,449,712
1,449,712
540,937
G-24
$
540,937
$
427,450
1,378,046
$
968,387
29,102
(3,481)
(18,667)
36,628
43,582
383,868
383,868
(409,659)
1,378,046
$
529,102
9,122
(18,667)
136,628
656,185
1,065,844
1,065,844
(837,109)
1,378,046
$
500,000
12,603
100,000
612,603
Actual
1,449,712
1,449,712
(837,109)
Final
Variance with
Final Budget
Positive
(Negative)
$
427,450
LAW ENFORCEMENT TRUST FUND
Budget
Original
REVENUES
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Public Safety
Total Expenditures
$
Final
66,103
4,655
70,758
$
66,103
4,655
70,758
Actual
$
201,350
3,286
(7,903)
196,733
Variance with
Final Budget
Positive
(Negative)
$
135,247
(1,369)
(7,903)
125,975
333,877
333,877
333,877
333,877
46,229
46,229
287,648
287,648
(263,119)
(263,119)
150,504
413,623
378,135
378,135
378,135
-
115,016
G-25
$
115,016
$
528,639
$
413,623
LAND MANAGEMENT TRUST FUND
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
Final
4,192,589
208,594
111,179
4,512,362
$
4,192,589
208,594
111,179
4,512,362
Actual
$
4,256,733
254,939
(637,238)
216,877
4,091,311
EXPENDITURES
Current:
Total Expenditures
1,030,074
1,030,074
1,030,074
1,030,074
794,941
794,941
3,482,288
3,482,288
3,296,370
29,453,614
29,453,614
29,453,614
$
32,935,902
G-26
$
32,935,902
$
32,749,984
Variance with
Final Budget
Positive
(Negative)
$
64,144
46,345
(637,238)
105,698
(421,051)
235,133
235,133
(185,918)
$
(185,918)
BUILDING FUND
Budget
Original
REVENUES
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Public Safety
Total Expenditures
$
3,057,279
55,000
2,474
509,041
3,623,794
Final
$
3,057,279
55,000
2,474
509,041
3,623,794
Actual
$
3,729,984
48,024
373
12,175
(37,754)
1,707
3,754,509
3,354,300
3,354,300
3,354,300
3,354,300
3,149,697
6,580
3,156,277
269,494
269,494
598,232
(415,523)
(415,523)
(415,523)
(146,029)
G-27
$
(146,029)
$
182,709
Variance with
Final Budget
Positive
(Negative)
$
672,705
(6,976)
373
9,701
(37,754)
(507,334)
130,715
204,603
(6,580)
198,023
328,738
$
328,738
NORTH RIDGE CRA FUND
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Human Services
Total Expenditures
OVER EXPENDITURES
Transfers out
Sources (Uses)
$
Final
5,500,801
329,957
5,830,758
$
5,500,801
329,957
5,830,758
Actual
$
5,789,025
293,381
(722,513)
56,200
5,416,093
Variance with
Final Budget
Positive
(Negative)
$
288,224
(36,576)
(722,513)
56,200
(414,665)
125,212
31,221,790
1,751,022
33,098,024
125,212
30,104,149
651,022
30,880,383
62,875
1,037,656
205,054
1,305,585
62,337
29,066,493
445,968
29,574,798
(27,267,266)
(25,049,625)
4,110,508
29,160,133
(712,051)
(712,051)
(544,361)
167,690
(712,051)
(712,051)
(544,361)
167,690
(27,979,317)
(25,761,676)
3,566,147
29,327,823
33,307,072
33,307,072
33,307,072
-
5,327,755
G-28
$
7,545,396
$
36,873,219
$
29,327,823
INDIGENT HEALTH CARE FUND
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Human Services
Total Expenditures
$
31,598,967
387,619
128,900
237,816
32,353,302
Final
$
31,598,967
387,619
128,900
237,816
32,353,302
Actual
$
34,270,806
68,236
202,377
(483,873)
292,199
34,349,745
Variance with
Final Budget
Positive
(Negative)
$
2,671,839
(319,383)
73,477
(483,873)
54,383
1,996,443
45,346,649
45,346,649
45,346,649
45,346,649
32,768,060
32,768,060
12,578,589
12,578,589
(12,993,347)
(12,993,347)
1,581,685
14,575,032
23,305,806
23,305,806
23,305,806
-
10,312,459
G-29
$
10,312,459
$
24,887,491
$
14,575,032
HARDEN / PARKWAY CRA FUND
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
OVER EXPENDITURES
580,205
5,704
585,909
$
585,909
Transfers out
Sources (Uses)
Final
$
580,205
5,704
585,909
Actual
$
585,909
653,683
5,494
(7,652)
651,525
Variance with
Final Budget
Positive
(Negative)
$
651,525
73,478
(210)
(7,652)
65,616
65,616
(1,010,000)
(1,010,000)
(1,010,000)
-
(1,010,000)
(1,010,000)
(1,010,000)
-
(424,091)
(424,091)
(358,475)
65,616
755,698
755,698
755,698
331,607
G-30
$
331,607
$
397,223
$
65,616
POLK COMMERCE CENTRE CRA FUND
Budget
Original
REVENUES
Taxes
Total Revenues
$
EXPENDITURES
Current:
Transportation
Total Expenditures
$
Final
10,977
10,977
$
10,977
10,977
Actual
$
10,777
10,777
Variance with
Final Budget
Positive
(Negative)
$
(200)
(200)
150,000
10,977
160,977
150,000
10,977
160,977
150,000
5,386
155,386
5,591
5,591
(150,000)
(150,000)
(144,609)
5,391
(1,133,492)
(1,133,492)
(1,133,492)
-
(1,283,492)
G-31
$
(1,283,492)
$
(1,278,101)
$
5,391
LEISURE SERVICES MSTU FUND
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Total Expenditures
OVER EXPENDITURES
Transfers in
Transfers out
Sources (Uses)
$
Final
5,633,028
522,108
186,211
12,825
6,354,172
$
5,633,028
522,108
186,211
12,825
6,354,172
Actual
$
5,392,239
415,491
185,981
(344,858)
25,265
5,674,118
Variance with
Final Budget
Positive
(Negative)
$
(240,789)
(106,617)
(230)
(344,858)
12,440
(680,054)
24,539,682
24,539,682
21,276,199
21,276,199
11,571,361
11,571,361
9,704,838
9,704,838
(18,185,510)
(14,922,027)
(5,897,243)
9,024,784
4,561,493
(1,900,000)
4,561,493
(1,900,000)
1,485,632
(1,900,000)
(3,075,861)
-
2,661,493
2,661,493
(414,368)
(3,075,861)
(15,524,017)
(12,260,534)
(6,311,611)
22,802,510
22,802,510
22,802,510
7,278,493
G-32
$
10,541,976
$
16,490,899
5,948,923
$
5,948,923
LIBRARIES MSTU FUND
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Total Expenditures
2,815,847
9,414
2,825,261
$
3,119,022
3,119,022
OVER EXPENDITURES
$
2,815,847
9,414
2,825,261
Actual
$
3,119,022
3,119,022
(293,761)
Transfers in
Sources (Uses)
Final
2,695,278
10,552
(14,015)
2,691,815
Variance with
Final Budget
Positive
(Negative)
$
2,808,299
2,808,299
(293,761)
(120,569)
1,138
(14,015)
(133,446)
310,723
310,723
(116,484)
177,277
7,791
7,791
19,809
12,018
7,791
7,791
19,809
12,018
189,295
(285,970)
(285,970)
(96,675)
862,700
862,700
862,700
576,730
G-33
$
576,730
$
766,025
$
189,295
TRANSPORTATION 1 MILL FUND
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Current:
Transportation
Total Expenditures
OVER EXPENDITURES
Transfers in
Sources (Uses)
$
Final
22,077,876
424,568
22,502,444
$
22,077,876
424,568
22,502,444
Actual
$
21,606,891
5,375
262,817
(521,105)
300,230
21,654,208
Variance with
Final Budget
Positive
(Negative)
$
(470,985)
5,375
(161,751)
(521,105)
300,230
(848,236)
62,258,607
62,258,607
47,152,086
47,152,086
29,201,328
29,201,328
17,950,758
17,950,758
(39,756,163)
(24,649,642)
(7,547,120)
17,102,522
6,000
6,000
100,287
94,287
6,000
6,000
100,287
94,287
(39,750,163)
(24,643,642)
(7,446,833)
30,072,044
30,072,044
30,072,044
(9,678,119)
G-34
$
5,428,402
$
22,625,211
17,196,809
$
17,196,809
ELOISE CRA FUND
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Human Services
Total Expenditures
$
Final
35,526
6,581
42,107
$
35,526
6,581
42,107
Actual
$
37,178
3,723
(8,840)
32,061
Variance with
Final Budget
Positive
(Negative)
$
1,652
(2,858)
(8,840)
(10,046)
179,912
28,000
207,912
179,912
85,500
265,412
36,647
5,448
42,095
143,265
80,052
223,317
(165,805)
(223,305)
(10,034)
213,271
460,146
460,146
460,146
294,341
G-35
$
236,841
$
450,112
$
213,271
CLERK OF THE CIRCUIT COURTS – COURT FUND
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Intergovernmental
Total Revenues
$
EXPENDITURES
Current:
General Government
Total Expenditures
Final
13,105,116
13,105,116
$
Actual
13,105,117
13,105,117
$
11,464,229
11,464,229
$
13,105,116
13,105,116
13,105,117
13,105,117
-
-
(321,868)
(321,868)
-
-
321,868
321,868
$
-
G-36
$
-
11,786,097
11,786,097
(1,640,888)
(1,640,888)
$
-
1,319,020
1,319,020
$
-
PUBLIC SAFETY CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2005 FUND
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
EXPENDITURES
Debt Service:
Total Expenditures
OVER EXPENDITURES
Transfers in
Sources (Uses)
4,500,000
62,262
4,562,262
$
$
4,500,000
12,062
(50,574)
4,461,488
$
(50,200)
(50,574)
(100,774)
1,865,000
3,829,416
5,694,416
1,865,000
3,827,166
5,692,166
2,250
2,250
(1,132,154)
(1,132,154)
(1,230,678)
(98,524)
1,050,000
1,050,000
1,050,000
-
1,050,000
1,050,000
1,050,000
-
(82,154)
3,156,275
$
4,500,000
62,262
4,562,262
Actual
1,865,000
3,829,416
5,694,416
(82,154)
Final
Variance with
Final Budget
Positive
(Negative)
3,074,121
G-37
(180,678)
3,156,275
$
3,074,121
(98,524)
3,156,275
$
2,975,597
$
(98,524)
CONSTITUTIONAL FUEL TAX REVENUE REFUNDING BONDS, SERIES 2006 FUND
Budget
Original
REVENUES
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Total Expenditures
OVER EXPENDITURES
Transfers in
Sources (Uses)
$
Final
22,128
22,128
$
22,128
22,128
Actual
$
14,588
(46,567)
(31,979)
Variance with
Final Budget
Positive
(Negative)
$
(7,540)
(46,567)
(54,107)
2,195,000
1,386,466
3,581,466
2,195,000
1,386,466
3,581,466
2,195,000
1,384,966
3,579,966
1,500
1,500
(3,559,338)
(3,559,338)
(3,611,945)
(52,607)
3,670,000
3,670,000
3,720,000
50,000
3,670,000
3,670,000
3,720,000
50,000
110,662
110,662
108,055
2,336,512
2,336,512
2,336,512
2,447,174
G-38
$
2,447,174
$
2,444,567
(2,607)
$
(2,607)
CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2010 FUND
Budget
Original
REVENUES
Intergovernmental
Interest Income
Total Revenues
$
EXPENDITURES
Debt Service:
Capital Projects
Total Expenditures
2,250,000
49,858
2,299,858
$
1,570,000
1,188,750
2,758,750
4,804,873
G-39
$
4,804,873
$
(106,740)
5,263,765
$
4,698,133
(16,775)
(91,365)
(108,140)
1,400
1,400
(565,632)
5,263,765
$
2,250,000
33,083
(91,365)
2,191,718
1,570,000
1,187,350
2,757,350
(458,892)
5,263,765
$
2,250,000
49,858
2,299,858
Actual
1,570,000
1,188,750
2,758,750
(458,892)
Final
Variance with
Final Budget
Positive
(Negative)
$
(106,740)
TRANSPORTATION IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2010 FUND
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
EXPENDITURES
Debt Service:
Total Expenditures
OVER EXPENDITURES
Transfers in
Transfers out
Sources (Uses)
650,000
76,642
726,642
$
$
650,000
47,248
(134,027)
563,221
$
(29,394)
(134,027)
(163,421)
1,955,000
2,190,100
4,145,100
1,955,000
2,189,200
4,144,200
(3,418,458)
(3,418,458)
(3,580,979)
(162,521)
3,076,642
(76,642)
3,076,642
(76,642)
3,000,000
-
(76,642)
76,642
3,000,000
3,000,000
3,000,000
(418,458)
7,472,857
$
650,000
76,642
726,642
Actual
1,955,000
2,190,100
4,145,100
(418,458)
Final
Variance with
Final Budget
Positive
(Negative)
7,054,399
G-40
7,054,399
-
(580,979)
7,472,857
$
900
900
(162,521)
7,472,857
$
6,891,878
$
(162,521)
COMMERCIAL PAPER PROGRAM – ENVIRONMENTAL LANDS FUND
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Interest Income
Total Revenues
$
Final
-
$
Actual
-
$
6
(15)
(9)
$
6
(15)
(9)
EXPENDITURES
Total Expenditures
-
-
-
-
-
-
(9)
(9)
689
689
$
689
G-41
$
689
689
$
680
$
(9)
COMMERCIAL PAPER PROGRAM – PARKS LAND ACQUISITION FUND
Budget
Original
REVENUES
Interest Income
Total Revenues
$
EXPENDITURES
Debt Service:
Total Expenditures
OVER EXPENDITURES
Transfers in
Sources (Uses)
$
53,073
53,073
Final
$
53,073
53,073
Actual
$
26,735
37,369
Variance with
Final Budget
Positive
(Negative)
$
(26,338)
(15,704)
7,189,000
300,000
7,489,000
7,189,000
300,000
7,489,000
7,189,000
88,010
7,277,010
211,990
211,990
(7,435,927)
(7,435,927)
(7,239,641)
196,286
3,811,549
3,811,549
3,415,013
(396,536)
3,811,549
3,811,549
3,415,013
(396,536)
(3,624,378)
(3,624,378)
(3,824,628)
(200,250)
3,835,262
3,835,262
3,835,262
210,884
G-42
$
210,884
$
10,634
$
(200,250)
GENERAL CAPITAL IMPROVEMENTS FUND
Budget
Original
REVENUES
Interest Income
Total Revenues
$
EXPENDITURES
Capital Projects
Total Expenditures
OVER EXPENDITURES
Transfers out
Sources (Uses)
$
Final
55,658
55,658
$
55,658
55,658
Actual
$
18,445
(39,098)
(20,653)
Variance with
Final Budget
Positive
(Negative)
$
(37,213)
(39,098)
(76,311)
2,621,246
2,621,246
1,843,094
1,843,094
1,053,495
1,053,495
789,599
789,599
(2,565,588)
(1,787,436)
(1,074,148)
713,288
(274,881)
(274,881)
(274,881)
-
(274,881)
(274,881)
(274,881)
-
(2,840,469)
(2,062,317)
(1,349,029)
713,288
3,299,238
3,299,238
3,299,238
458,769
G-43
$
1,236,921
$
1,950,209
$
713,288
ROAD CONSTRUCTION FUND
Budget
Original
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
EXPENDITURES
Capital Projects
Total Expenditures
$
Final
2,600,000
159,621
2,759,621
$
2,600,000
159,621
2,759,621
Actual
$
2,600,000
91,009
(166,360)
95,500
2,620,149
Variance with
Final Budget
Positive
(Negative)
$
(68,612)
(166,360)
95,500
(139,472)
19,561,812
19,561,812
15,775,905
15,775,905
8,324,789
8,324,789
7,451,116
7,451,116
(16,802,191)
(13,016,284)
(5,704,640)
7,311,644
13,141,813
13,141,813
13,141,813
(3,660,378)
G-44
$
125,529
$
7,437,173
$
7,311,644
ENVIRONMENTAL LANDS ACQUISITION FUND
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Taxes
Interest Income
Total Revenues
$
EXPENDITURES
Capital Projects
Total Expenditures
OVER EXPENDITURES
Transfers out
Sources (Uses)
$
Final
222,987
29,765
252,752
$
222,987
29,765
252,752
Actual
$
232,028
28,445
(64,097)
196,376
$
9,041
(1,320)
(64,097)
(56,376)
3,736,027
3,736,027
3,306,407
3,306,407
584,539
584,539
2,721,868
2,721,868
(3,483,275)
(3,053,655)
(388,163)
2,665,492
(100,000)
(100,000)
(26,968)
73,032
(100,000)
(100,000)
(26,968)
73,032
(3,583,275)
(3,153,655)
(415,131)
2,738,524
3,694,096
3,694,096
110,821
G-45
$
540,441
3,694,096
$
3,278,965
$
2,738,524
DRAINAGE AND WATER QUALITY
Variance with
Final Budget
Positive
(Negative)
Budget
Original
REVENUES
Interest Income
Miscellaneous
Total Revenues
$
Capital Projects
Total Expenditures
$
Final
22,790
241,174
263,964
$
22,790
241,174
263,964
Actual
$
15,080
(35,444)
82,223
61,859
$
(7,710)
(35,444)
(158,951)
(202,105)
3,462,542
3,462,542
2,229,657
2,229,657
462,077
462,077
1,767,580
1,767,580
(3,198,578)
(1,965,693)
(400,218)
1,565,475
2,078,052
2,078,052
(1,120,526)
G-46
$
112,359
2,078,052
$
1,677,834
$
1,565,475
INTERNAL SERVICE FUNDS
Internal Service Funds are used to account for the financing of goods and services provided by one
department or agency to other departments or agencies, and to other governments on a cost
reimbursement basis.
FLEET MANAGEMENT FUND
This fund accounts for all activities necessary to provide for the maintenance, replacement, and
management of the County’s fleet of vehicles.
EMPLOYEE HEALTH INSURANCE FUND
This fund accounts for the provision of health benefits to County employees, retirees, and their
dependents through the County’s self-insurance health program.
INFORMATION TECHNOLOGY FUND
This fund accounts for the operations of the computer replacement and information technology
enhancement and maintenance programs.
G-47
COMBINING STATEMENT OF FUND NET POSITION
SEPTEMBER 30, 2013
Fleet
Management
Employee
Health
Insurance
$ 11,170,682
379,368
22,175
689,116
12,261,341
$ 26,046,670
352,117
41,103
26,439,890
Information
Technology
Total
ASSETS
CURRENT ASSETS
Accounts Receivable
Interest Receivable
Inventory, at Cost
Other Assets
Total Current Assets
NONCURRENT ASSETS
Capital Assets:
Equipment
Intangibles
Less: Accumulated Depreciation
Total Capital Assets, Net of
Accumulated Depreciation
Total Assets
2,129,425
75,751,954
(53,856,135)
$
5,991
(5,592)
1,314,003
28,010
1,342,013
$ 38,531,355
731,485
63,278
689,116
28,010
40,043,244
3,140,277
4,397,898
6,386,333
(9,453,661)
5,269,702
80,155,843
6,386,333
(63,315,388)
24,025,244
399
4,470,847
28,496,490
36,286,585
26,440,289
5,812,860
68,539,734
347,995
66,341
12,924
427,260
370,371
28,887
201,261
58,060
2,564,000
3,222,579
75,948
116,400
24,209
216,557
794,314
211,628
201,261
95,193
2,564,000
3,866,396
163,165
1,117,767
1,280,932
4,659
355,144
359,803
305,633
1,672,154
1,977,787
473,457
3,145,065
3,618,522
1,708,192
3,582,382
2,194,344
7,484,918
24,025,244
10,553,149
399
22,857,508
4,470,847
(852,331)
28,496,490
32,558,326
$ 34,578,393
$ 22,857,907
LIABILITIES
CURRENT LIABILITIES
Vouchers Payable
Accrued Liabilities
Unearned Revenue
Accrued Compensated Absences, Current Portion
Claims Payable
Total Current Liabilities
NONCURRENT LIABILITIES
Total Noncurrent Liabilities
Total Liabilities
NET POSITION
Unrestricted (deficit)
Total Net Position
G-48
$
3,618,516
$ 61,054,816
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION
Fleet
Management
Employee
Health
Insurance
OPERATING REVENUES
Other Revenue
Total Operating Revenues
$ 11,718,085
17,863
11,735,948
$ 48,314,855
836,660
49,151,515
OPERATING EXPENSES
Personal Services
Operations and Maintenance
Depreciation
Health Care Program
Total Operating Expenses
2,277,334
4,660,842
4,555,022
11,493,198
746,050
2,876,110
1,198
37,420,952
41,044,310
242,750
8,107,205
OPERATING INCOME (LOSS)
NONOPERATING REVENUES (EXPENSES)
Interest Income
Transfer of Capital Assets - Governmental Funds
Gain (Loss) on Disposal of Equipment
Total Nonoperating Revenues (Expenses)
INCOME (LOSS) BEFORE CONTRIBUTIONS
AND TRANSFERS
88,224
(232,080)
965,511
821,655
Net Position - Beginning of Year
NET POSITION - END OF YEAR
7,829,340
7,750
7,750
-
1,072,155
7,829,340
33,506,238
15,028,567
$ 34,578,393
$ 22,857,907
G-49
$
Total
7,086,167
9,762
7,095,929
$ 67,119,107
864,285
67,983,392
3,929,760
2,544,813
1,283,413
7,757,986
6,953,144
10,081,765
5,839,633
37,420,952
60,295,494
(662,057)
152,314
(430,179)
(277,865)
1,064,405
CONTRIBUTIONS AND TRANSFERS
Capital Contributions
Total Contributions and Transfers
Information
Technology
8,018
(31,498)
(149,927)
(52,661)
(226,068)
(888,125)
(888,125)
$
7,687,898
248,556
(693,757)
(149,927)
912,850
317,722
8,005,620
7,750
7,750
8,013,370
4,506,641
53,041,446
3,618,516
$ 61,054,816
COMBINING STATEMENT OF CASH FLOWS
Employee
Health
Insurance
Fleet
Management
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers
Cash Paid to Suppliers for Goods and Services
Cash Paid to Employees for Services
Cash Received from Other Sources
$
11,752,081
(4,976,354)
(2,243,517)
17,863
Net Cash from Operating Activities
4,550,073
CASH FLOWS FROM CAPITAL AND FINANCING ACTIVITIES
Acquisition and Construction of Capital Assets
Proceeds from Sale of Capital Assets
Net Cash from Capital and Related Financing Activities
(9,628,069)
974,551
(8,653,518)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from Sale of Investments
Purchases of Investments
Investment Earnings Received
Net Cash from Investing Activities
9,881,438
(6,760,993)
97,457
3,217,902
Cash and Cash Equivalents - Beginning of Year
RECONCILIATION OF NET OPERATING INCOME (LOSS)
TO NET CASH PROVIDED BY OPERATING ACTIVITIES
Net Income (Loss) from Operations
Adjustments to Reconcile Net Operating Income (Loss) to
Net Cash Provided (Used) by Operating Activities:
Depreciation
(Increase) Decrease in:
Accounts Receivable
Inventory
Other Assets
Increase (Decrease) in:
Vouchers Payable
Accrued Liabilities
Unearned Revenue
Claims Payable
Postemployment Health Care Benefits Payable
NONCASH INVESTING, CAPITAL, AND FINANCING ACTIVITIES
Contribution of Capital Assets
RECONCILIATION OF INTERNAL SERVICE FUND CASH TO
Internal Service Fund Pooled Cash and Cash Equivalents
Internal Service Fund Pooled Investments
Total Pooled Cash and Investments
$
7,086,167
(2,504,969)
(4,006,879)
9,762
$
66,758,247
(48,680,599)
(6,970,428)
1,063,205
584,081
12,170,425
(440,112)
18,076
(422,036)
(10,068,181)
992,627
(9,075,554)
15,627,468
(20,523,026)
137,120
(4,758,438)
694,699
(802,586)
8,018
(99,869)
26,203,605
(28,086,605)
242,595
(1,640,405)
2,277,833
62,176
1,454,466
-
4,030,397
Total
5,049,118
307,454
9,386,969
$
3,144,854
$
7,326,951
$
369,630
$
10,841,435
$
242,750
$
8,107,205
$
(662,057)
$
7,687,898
4,555,022
Total Adjustments
Net Cash from Operating Activities
47,919,999
(41,199,276)
(720,032)
1,035,580
7,036,271
(885,543)
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - END OF YEAR
$
Information
Technology
1,198
1,283,413
5,839,633
33,996
(211,969)
-
(350,629)
198,920
-
(26,105)
(316,633)
198,920
(211,969)
(26,105)
(105,768)
2,225
(29,349)
63,166
(450,835)
4,621
(44,227)
(456,000)
3,120
22,898
(89,428)
5,450
(15,329)
88,137
(646,031)
12,296
(44,227)
(456,000)
(41,558)
174,201
4,307,323
(1,070,934)
1,246,138
4,482,527
$
4,550,073
$
7,036,271
$
584,081
$
12,170,425
$
7,750
$
-
$
-
$
7,750
$
3,144,854
8,025,828
$
7,326,951
18,719,719
$
369,630
944,373
$
10,841,435
27,689,920
$
11,170,682
$
26,046,670
$
1,314,003
$
38,531,355
$
$
11,170,682
11,170,682
$
$
26,046,670
26,046,670
$
$
1,314,003
1,314,003
$
$
38,531,355
38,531,355
RECONCILIATION OF INTERNAL SERVICE FUND CASH AND
INVESTMENTS TO COMBINING BALANCE SHEET
Cash, Cash Equivalents and Investments
G-50
AGENCY FUNDS
Agency Funds account for all assets held as custodian or agent for individuals, governmental entities
and nonpublic organizations. Agency Funds are custodial in nature (assets equal liabilities) and do not
involve measurement of results of operations.
G-51
AGENCY FUND
COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES
ALL AGENCY FUNDS
SEPTEMBER 30, 2013
County
Court
Fund
Registry
of Court
Fund
Jury and
Witness
Fund
Domestic
Relations
Fund
Tax Deed
Fund
Intangible Tax
and
Documentary
Stamp Fund
ASSETS
Total Assets
$
$
1,271,775
1,271,775
$
676,375
595,400
1,271,775
$
$
7,701,217
7,701,217
$
7,701,217
7,701,217
$
$
36,137
36,137
$
36,137
36,137
$
$
314,723
314,723
$
314,723
314,723
$
$
3,402,983
3,402,983
$
3,402,983
3,402,983
$
$
75,138
75,138
LIABILITIES
Due to Others
Deposits
Total Liabilities
$
$
$
$
G-52
$
$
$
75,138
75,138
County
Court/
Civil Court
Fund
$
$
$
$
72,612
72,612
72,612
72,612
Cash Bonds
Fund
$
$
$
$
673,915
673,915
673,915
673,915
Fees and
Suspense
Fund
Taxes
Fund
$
$
$
$
4,269,442
4,269,442
3,086,233
1,183,209
4,269,442
$
$
$
$
1,231,990
2,462
1,234,452
4,173
1,230,279
1,234,452
Inmate
Fund
$
$
$
$
G-53
202,258
202,258
155,422
46,836
202,258
Other Agency
Fund
$
$
$
$
473,437
473,437
300,098
173,339
473,437
Totals
$
$
$
$
19,725,627
2,462
19,728,089
4,142,017
5,897,688
9,688,384
19,728,089
AGENCY FUND
COMBINING SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
Balance
October 1,
2012
Additions
Deductions
Balance
September 30,
2013
COUNTY COURT FUND
ASSETS
$
1,328,133
$
23,996,833
$
24,053,191
$
1,271,775
$
$
$
11,070,884
12,982,307
24,053,191
$
$
11,020,570
12,976,263
23,996,833
$
$
726,689
601,444
1,328,133
$
676,375
595,400
1,271,775
ASSETS
$
6,869,996
$
63,440,883
$
62,609,662
$
7,701,217
LIABILITIES
Deposits
$
6,869,996
$
63,440,883
$
62,609,662
$
7,701,217
ASSETS
$
76,857
$
21,000
$
61,720
$
36,137
LIABILITIES
Deposits
$
76,857
$
21,000
$
61,720
$
36,137
ASSETS
$
305,928
$
2,640,801
$
2,632,006
$
314,723
LIABILITIES
Due to Others
$
305,928
$
2,640,801
$
2,632,006
$
314,723
LIABILITIES
Due to Others
REGISTRY OF COURT FUND
JURY AND WITNESS FUND
DOMESTIC RELATIONS FUND
G-54
AGENCY FUND
ALL AGENCY FUNDS (CONTINUED)
Balance
October 1,
2012
Additions
Deductions
Balance
September 30,
2013
TAX DEED FUND
ASSETS
$
1,415,122
$
4,712,873
$
2,725,012
$
3,402,983
LIABILITIES
Due to Others
$
1,415,122
$
4,712,873
$
2,725,012
$
3,402,983
ASSETS
$
88,993
$
33,561,324
$
33,575,179
$
75,138
LIABILITIES
$
88,993
$
33,561,324
$
33,575,179
$
75,138
ASSETS
$
72,612
$
943
$
943
$
72,612
LIABILITIES
Due to Others
$
72,612
$
943
$
943
$
72,612
ASSETS
$
2,649,240
$
1,022,209
$
2,997,534
$
673,915
LIABILITIES
Deposits
$
2,649,240
$
1,022,209
$
2,997,534
$
673,915
INTANGIBLE TAX AND DOCUMENTARY
STAMP FUND
COUNTY COURT / CIVIL COURT FUND
CASH BONDS FUND
G-55
AGENCY FUND
Balance
October 1,
2012
Additions
Deductions
Balance
September 30,
2013
TAXES FUND
ASSETS
LIABILITIES
Due to Others
$
3,878,817
$ 332,829,169
$ 332,438,544
$
4,269,442
$
3,157,934
720,883
3,878,817
$ 304,309,900
28,519,269
$ 332,829,169
$ 304,381,601
28,056,943
$ 332,438,544
$
3,086,233
1,183,209
4,269,442
1,240,253
1,240,253
$
754,797
2,462
757,259
$
763,060
763,060
$
$
$
181,242
581,818
763,060
$
$
181,010
576,249
757,259
$
$
4,405
1,235,848
1,240,253
$
4,173
1,230,279
1,234,452
$
-
$
45,808
$
45,808
$
-
$
$
$
44,008
1,800
45,808
$
$
44,008
1,800
45,808
$
$
-
$
-
$
105,944
$
2,888,430
$
2,792,116
$
202,258
$
105,944
105,944
$
155,422
2,733,008
2,888,430
$
2,792,116
2,792,116
$
155,422
46,836
202,258
$
$
FEES AND SUSPENSE FUND
ASSETS
$
$
LIABILITIES
Deposits
$
$
$
$
1,231,990
2,462
1,234,452
FINES, DRD, COST OF ARREST FUND
ASSETS
LIABILITIES
Deposits
INMATE FUND
ASSETS
LIABILITIES
Deposits
$
G-56
$
$
$
AGENCY FUND
Balance
October 1,
2012
Additions
Deductions
Balance
September 30,
2013
STATEWIDE TASK FORCE FUND
ASSETS
$
202,037
$
839
$
202,876
$
-
LIABILITIES
Deposits
$
202,037
$
839
$
202,876
$
-
$
780,829
$
6,669,267
$
6,976,659
$
473,437
$
608,387
172,442
780,829
$
6,012,083
657,184
6,669,267
$
6,320,372
656,287
6,976,659
$
300,098
173,339
473,437
OTHER AGENCY FUNDS
ASSETS
LIABILITIES
Due to Others
$
$
$
$
TOTALS - AGENCY FUNDS
ASSETS
LIABILITIES
Due to Others
Deposits
$ 19,014,761
$ 19,014,761
$ 472,585,176
2,462
$ 472,587,638
$ 471,874,310
$ 471,874,310
$ 19,725,627
2,462
$ 19,728,089
$
$ 355,084,887
49,706,763
67,795,988
$ 472,587,638
$ 355,529,278
47,097,506
69,247,526
$ 471,874,310
$
4,586,408
3,288,431
11,139,922
$ 19,014,761
G-57
4,142,017
5,897,688
9,688,384
$ 19,728,089
NORTH RIDGE COMMUNITY REDEVELOPMENT AGENCY
BALANCE SHEET
SEPTEMBER 30, 2013
ASSETS
Interest Receivable
Total Assets
$
$
36,984,369
69,035
37,053,404
LIABILITIES AND FUND BALANCES
Liabilities:
Vouchers Payable
Accrued Liabilities
Unearned Revenue
Total Liabilities
$
Fund Balances:
Restricted
Total Fund Balances
141,475
1,935
36,775
180,185
36,873,219
36,873,219
H-1
$
37,053,404
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
REVENUES
Taxes
Interest Income
Miscellaneous
Total Revenues
$
5,789,025
293,381
(722,513)
56,200
5,416,093
EXPENDITURES
Current:
Human Services
Total Expenditures
62,875
1,037,656
205,054
1,305,585
OVER EXPENDITURES
4,110,508
Transfers out
Sources (Uses)
(544,361)
(544,361)
3,566,147
33,307,072
$
H-2
36,873,219
SEPTEMBER 30, 2013
NOTE 1
The financial statements of the North Ridge Community Redevelopment Agency (the
Agency) have been prepared in conformity with accounting principles generally accepted in
the United States (GAAP) as applied to governmental units. The Governmental Accounting
Standards Board (GASB) is the accepted standard-setting body for establishing
governmental accounting and financial reporting principles. The more significant of the
Agency’s accounting policies are described below.
Reporting Entity
The North Ridge Community Redevelopment Agency is a dependent special district of Polk
County, Florida (the County). The Agency was established on June 10, 2002 in accordance
with Chapter 163, Part III of the Florida Statutes. The Agency is a legally separate entity
established by County Ordinance 02-29. The purpose of the Agency is to coordinate
projects and programs to rehabilitate, conserve, or redevelop the North Ridge community.
The members of the Board of County Commissioners also serve on the Board of the
Agency. The financial statements of the County include all governmental functions and
operations controlled by or dependent on the County. Accordingly, the financial statements
include the North Ridge Community Redevelopment Agency.
The Agency’s only fund is a governmental fund. Governmental fund financial statements
are reported using the current financial resources measurement focus and the modified
accrual basis of accounting. Revenues are recognized as soon as they are both
measurable and available. Revenues are considered to be available when they are
collected within the current period or soon enough thereafter to pay liabilities of the current
period. For this purpose, the Agency considers revenues to be available if they are
collected within 60 days of the end of the current fiscal period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. Property taxes,
intergovernmental revenues and interest earned associated with the current fiscal period
are all considered to be susceptible to accrual and so have been recognized as revenues
of the current fiscal period. All other revenue items are considered to be measurable only
when cash is received by the Agency.
during a period.
H-3
SEPTEMBER 30, 2013
NOTE 1
Measurement Focus and Basis of Accounting (continued)
expenditures, as well as expenditures related to compensated absences are recorded only
when payment is due.
The accounts of the Agency are organized on the basis of funds, each of which is
considered a separate accounting entity. The operations of each fund are accounted for
with a separate set of self-balancing accounts comprised of its assets, liabilities, equities,
revenues and expenditures, or expenses, as appropriate. Governmental resources are
allocated to and accounted for in individual funds based upon the purposes for which they
are to be spent and the means by which spending activities are controlled.
The Agency’s financial statements consist of the fund financial statements and notes to the
The Agency uses a pooled cash concept in maintaining its bank account. Cash is pooled
with the County for operating and investing purposes and each fund has equity in the
pooled amount.
Interfund Balances
Activity between the Agency and other funds that are representative of lending / borrowing
arrangements outstanding at the end of the fiscal year are referred to as advances to / from
other funds.
Fund Balance
Fund Type Definitions, which was implemented by the County for the year ended
September 30, 2013, governments are required to classify fund balance in governmental
funds as nonspendable, restricted, committed, assigned, and unassigned. Chapter 163,
Florida Statutes, requires that CRA funds only be used for the purpose of community
redevelopment activities within the community redevelopment area.
H-4
SEPTEMBER 30, 2013
NOTE 1
Estimates
The preparation of financial statements in conformity with GAAP requires management to
make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities as of the date of the financial statements,
and the reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.
Tax Increment Revenue
Tax increment revenues are collected from the County and are the primary source of
revenue for the Agency. The tax increment revenue is calculated by applying the adopted
millage rate of the County to the increase in current year taxable assessed valuations over
the 2001 base year taxable assessed valuations for all properties located within the
Agency’s boundaries. The County is required to pay 87.24% of these incremental property
taxes to the Agency. The increase in assessed valuations of property within the boundaries
over the base year valuations is presumed to be the result of the redevelopment efforts of
the Agency. The calculation of tax increment revenues for the year ended September 30,
2013 was as follows:
Assessed property value for 2012
Assessed property value for 2001 (base year)
Increase in assessed property value
Millage rate
Total Tax Increment
% of tax increment to the Agency
Tax increment revenue transferred to Agency
H-5
Incorporated
$
57,473
122,650
$
(65,177)
0.0068665
$
(448)
87%
$
(390)
Unincorporated
$ 1,624,899,568
739,991,064
$ 884,908,504
0.0074993
$
6,636,194
87%
$
5,789,415
Total
$ 6,635,747
87%
$ 5,789,025
HARDEN/PARKWAY COMMUNITY REDEVELOPMENT AGENCY
BALANCE SHEET
SEPTEMBER 30, 2013
ASSETS
$
Interest Receivable
393,139
731
3,742
Total Assets
$
397,612
Liabilities:
Unearned Revenue
$
Total Liabilities
389
389
Fund Balances:
Restricted
397,223
Total Fund Balances
397,223
H-6
$
397,612
REVENUES
Taxes
Interest Income
Total Revenues
$
Transfers out
Sources (Uses)
653,683
5,494
(7,652)
651,525
(1,010,000)
(1,010,000)
(358,475)
755,698
$
H-7
397,223
SEPTEMBER 30, 2013
NOTE 1
The financial statements of the Harden/Parkway Community Redevelopment Agency (the
Agency) have been prepared in conformity with accounting principles generally accepted in
the United States (GAAP) as applied to governmental units. The Governmental Accounting
Standards Board (GASB) is the accepted standard-setting body for establishing
Reporting Entity
The Harden/Parkway Community Redevelopment Agency is a dependent special district of
Polk County, Florida (the County). The Agency was established on March 8, 2004 in
accordance with Chapter 163, Part III of the Florida Statutes. The Agency is a legally
separate entity established by County Ordinance 04-12. The purpose of the Agency is to
coordinate projects and programs to rehabilitate, conserve, or redevelop the
Harden/Parkway community. The members of the Board of County Commissioners also
serve on the Board of the Agency. The financial statements of the County include all
governmental functions and operations controlled by or dependent on the County.
Accordingly, the financial statements include the Harden/Parkway Community
Redevelopment Agency.
during a period.
H-8
SEPTEMBER 30, 2013
NOTE 1
pooled amount.
Interfund Balances and Transfers
other funds. For the year ended September 30, 2013, Harden/Parkway Community
Redevelopment Agency transferred $1,010,000 to the County’s Constitutional Fuel Tax
Revenue Refunding Bonds Series 2006 fund for payment of debt service.
Fund Balance
H-9
SEPTEMBER 30, 2013
NOTE 1
Estimates
Agency’s boundaries. The County is required to pay 95% of these incremental property
the Agency. The following is the calculation of tax increment revenues for the tax increment
revenues related to County ad valorem taxes for the year ended September 30, 2013:
Millage rate
Total Tax Increment
Incorporated
$ 58,400,628
2,243,112
$ 56,157,516
0.0068665
$
385,605
95%
$
366,325
Unincorporated
$
6,864,633
5,306,670
$
1,557,963
0.0074993
$
11,684
95%
$
11,100
Total
$
$
397,289
95%
377,425
The Agency also received tax increment revenues from municipalities totaling $276,258.
H-10
POLK COMMERCE CENTRE COMMUNITY REDEVELOPMENT AGENCY
BALANCE SHEET
SEPTEMBER 30, 2013
ASSETS
Total Assets
$
-
Liabilities:
$
Total Liabilities
1,278,101
1,278,101
Fund Balances:
Unassigned
$
Total Fund Balances
(1,278,101)
(1,278,101)
H-11
$
-
REVENUES
Taxes
Total Revenues
$
EXPENDITURES
Current:
Transportation
Debt Service:
Total Expenditures
10,777
10,777
150,000
5,386
155,386
(144,609)
H-12
(1,133,492)
$
(1,278,101)
SEPTEMBER 30, 2013
NOTE 1
The financial statements of the Polk Commerce Centre Community Redevelopment
Agency (the Agency) have been prepared in conformity with accounting principles generally
accepted in the United States (GAAP) as applied to governmental units. The Governmental
Accounting Standards Board (GASB) is the accepted standard-setting body for establishing
Reporting Entity
The Polk Commerce Centre Community Redevelopment Agency is a dependent special
district of Polk County, Florida (the County). The Agency was established on November 24,
1992 in accordance with Chapter 163, Part III of the Florida Statutes. The Agency is a
legally separate entity established by County Ordinance 92-40. The purpose of the Agency
is to coordinate projects and programs to rehabilitate, conserve, or redevelop the Polk
Commerce Centre community. The members of the Board of County Commissioners also
serve on the Board of the Agency. The financial statements of the County include all
governmental functions and operations controlled by or dependent on the County.
Accordingly, the financial statements include the Polk Commerce Centre Community
Redevelopment Agency.
during a period.
H-13
SEPTEMBER 30, 2013
NOTE 1
pooled amount.
Interfund Balances
other funds.
Fund Balance
H-14
SEPTEMBER 30, 2013
NOTE 1
Estimates
the Agency. The following is the calculation of tax increment revenues for the tax increment
revenues related to County ad valorem taxes for the year ended September 30, 2013:
Millage rate
Total Tax Increment
Incorporated
$ 2,575,113
3,010,770
$ (435,657)
0.0068665
$
(2,991)
95%
$
(2,841)
Unincorporated
$
12,723,021
10,885,339
$
1,837,682
0.0074993
$
13,781
95%
$
13,092
Total
$
$
10,790
95%
10,251
The Agency also received tax increment revenues from a municipality totaling $526.
NOTE 2
INTERFUND BALANCES
The $1,278,100 in advances from other funds outstanding at September 30, 2013
represents amounts advanced from County’s General Fund to the Agency for the purpose
of paying engineering, consulting, and legal fees. The Agency is charged interest on the
advance based on the prevailing interest rate of the State Board of Administration. These
amounts will be repaid in future years as tax increment revenues are received.
H-15
ELOISE COMMUNITY REDEVELOPMENT AGENCY
BALANCE SHEET
SEPTEMBER 30, 2013
ASSETS
Interest Receivable
Total Assets
$
$
450,376
845
451,221
Liabilities:
Vouchers Payable
Accrued Liabilities
Unearned Revenue
Total Liabilities
$
Fund Balances:
Restricted
Total Fund Balances
26
633
450
1,109
450,112
450,112
H-16
$
451,221
REVENUES
Taxes
Interest Income
Total Revenues
$
EXPENDITURES
Current:
Human Services
Total Expenditures
37,178
3,723
(8,840)
32,061
36,647
5,448
42,095
(10,034)
460,146
$
H-17
450,112
SEPTEMBER 30, 2013
NOTE 1
The financial statements of the Polk Commerce Centre Community Redevelopment
Agency (the Agency) have been prepared in conformity with accounting principles generally
accepted in the United States (GAAP) as applied to governmental units. The Governmental
Accounting Standards Board (GASB) is the accepted standard-setting body for establishing
Reporting Entity
The Eloise Community Redevelopment Agency is a dependent special district of Polk
County, Florida (the County). The Agency was established on October 5, 1998 in
accordance with Chapter 163, Part III of the Florida Statutes. The Agency is a legally
separate entity established by County Ordinance 98-50. The purpose of the Agency is to
coordinate projects and programs to rehabilitate, conserve, or redevelop the Eloise
community. The members of the Board of County Commissioners also serve on the Board
of the Agency. The financial statements of the County include all governmental functions
and operations controlled by or dependent on the County. Accordingly, the financial
statements include the Eloise Community Redevelopment Agency.
during a period.
H-18
SEPTEMBER 30, 2013
NOTE 1
pooled amount.
Interfund Balances
other funds.
Fund Balance
redevelopment activities within the community redevelopment area
H-19
SEPTEMBER 30, 2013
NOTE 1
Estimates
the Agency. The calculation of tax increment revenues for the year ended September 30,
2013 was as follows:
Millage rate
Total Tax Increment
H-20
Incorporated
$
100
14,880
$
(14,780)
0.0068665
$
(101)
95%
$
(95)
Unincorporated
$
17,651,879
12,419,730
$
5,232,149
0.0074993
$
39,235
95%
$
37,273
Total
$
$
39,134
95%
37,178
STATISTICAL SECTION
(UNAUDITED)
The statistical data presents physical, economic, social, and political characteristics of Polk County. It
is intended to provide users with a more broad and complete understanding of the County and its
financial affairs than is possible from the financial statements and supporting schedules included in the
financial section.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how the County’s financial
performance and well-being have changed over time.
Revenue Capacity
These schedules contain information to help the reader assess the County’s
revenue source, property taxes.
most
significant
local
Debt Capacity
These schedules present information to help the reader assess the factors affordability of the County’s
current levels of outstanding debt and the County’s ability to issue additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand
the
environment within which the County’s financial activities take place and to help make comparisons
over time and with other governments.
Operating Information
These schedules contain information about the County’s operations and resources to help the reader
understand how the County’s financial information relates to the services the County provides and the
activitiesit performs.
Sources:
Unless otherwise noted, the information in these schedules is derived from the
comprehensive annual financial reports for the relevant year.
NET POSITION BY COMPONENT
LAST TEN YEARS
(ACCRUAL BASIS OF ACCOUNTING)
Fiscal Year
2004
Net investment in capital assets
Restricted
Unrestricted
Total governmental activities net position
Business-type activities
Restricted
Unrestricted
Total business-type activities net position
Primary government
Restricted
Unrestricted
Total primary government net position
$
$
$
$
$
$
2005
170,476,909
171,342,995
14,031,101
355,851,005
$
154,913,385
36,836,364
58,170,454
249,920,203
$
325,390,294
208,179,359
72,201,555
605,771,208
$
$
$
$
2006
2007
232,512,619
201,613,271
46,414,590
480,540,480
$ 3,114,539,025
368,975,423
75,020,648
$ 3,558,535,096
$ 3,252,902,615
253,821,972
158,062,713
$ 3,664,787,300
$
172,456,977
57,886,475
62,585,066
292,928,518
$
$
257,877,094
24,529,687
95,365,298
377,772,079
$
404,969,596
259,499,746
108,999,656
773,468,998
$ 3,335,314,308
402,207,259
161,240,741
$ 3,898,762,308
$ 3,510,779,709
278,351,659
253,428,011
$ 4,042,559,379
$
I-1
$
220,775,283
33,231,836
86,220,093
340,227,212
$
2008
$
$
$
3,307,559,702
226,513,598
130,691,377
3,664,764,677
287,723,841
26,344,675
87,838,886
401,907,402
3,595,283,543
252,858,273
218,530,263
4,066,672,079
Fiscal Year
2009
$
$
$
$
$
$
2010
3,357,988,212
235,599,680
77,111,095
3,670,698,987
$
312,870,500
28,596,368
72,906,655
414,373,523
$
3,670,858,712
264,196,048
150,017,750
4,085,072,510
$
$
$
$
2011
3,395,974,885
236,735,654
15,743,716
3,648,454,255
$
296,259,475
29,695,245
90,569,155
416,523,875
$
3,692,234,360
266,430,899
106,312,871
4,064,978,130
$
$
$
$
2012
3,394,238,901
188,583,685
27,480,451
3,610,303,037
$
285,152,606
41,502,026
112,280,426
438,935,058
$
3,679,391,507
230,085,711
139,760,877
4,049,238,095
$
I-2
$
$
$
2013
3,380,518,836
166,188,534
9,030,450
3,555,737,820
$
320,067,713
45,784,109
87,768,675
453,620,497
$
3,700,586,549
211,972,643
96,799,125
4,009,358,317
$
$
$
$
3,343,123,129
152,319,970
3,093,083
3,498,536,182
330,488,480
19,551,752
103,119,602
453,159,834
3,673,611,609
171,871,722
106,212,685
3,951,696,016
CHANGES IN NET POSITION
LAST TEN YEARS
Fiscal Year
2004
Expenses
Governmental activities:
General government
Public safety
Physical environment
Transportation
Economic environment
Human services
Culture and recreation
Debt service:
Interest on long-term debt
Other debt service
Total governmental activities
$
Business-type activities:
Water and sewer
Garbage collection/disposal
Rohr home
Total business-type activities expenses
Total primary government expenses
Program Revenues
Charges for services:
General government
Public safety
Transportation
Human services
Operating grants and contributions
Capital grants and contributions
Total governmental activities program revenues
$
96,617,317
182,955,965
9,501,474
44,827,252
12,350,829
29,175,036
8,859,294
2006
$
121,551,172
175,820,376
15,985,092
99,209,568
18,837,915
44,740,975
8,934,204
2007
$
125,791,731
192,070,367
12,967,889
113,049,037
24,633,535
71,788,805
12,788,510
2008
$
146,956,229
213,834,783
10,553,907
141,560,765
27,464,886
85,404,926
14,249,488
8,900,640
346,443,608
8,074,023
392,361,190
11,701,095
496,780,397
12,268,726
670,127
566,028,727
12,457,117
5,775
652,487,876
27,272,869
37,183,492
3,406,239
67,862,600
36,158,239
32,558,220
3,815,310
72,531,769
37,108,954
35,234,730
3,777,436
76,121,120
40,936,467
38,492,109
4,407,184
83,835,760
48,766,613
40,854,107
4,840,680
94,461,400
$
414,306,208
$
464,892,959
$
572,901,517
$
649,864,487
$
746,949,276
$
33,976,536
44,208,703
1,230,180
12,338,995
739,614
2,348,769
616,432
42,370,228
5,504,878
143,334,335
$
41,981,958
54,055,590
3,494,725
36,072,326
1,177,364
1,108,362
423,222
63,114,661
12,289,169
213,717,377
$
47,534,023
54,100,685
1,947,651
37,240,311
1,071,828
2,272,262
2,981,195
42,095,437
14,928,096
204,171,488
$
47,169,680
58,404,455
2,194,063
36,547,343
1,524,737
3,374,810
1,694,176
39,163,876
24,424,013
214,497,153
$
39,474,758
65,819,247
3,846,516
33,855,849
284,401
3,463,769
1,486,193
45,841,355
25,063,373
219,135,461
Business-type activities:
Charges for services:
Water and sewer
Garbage collection/disposal
Rohr home
Operating grants and contributions
Capital grants and contributions
Total business-type activities program revenues
Total primary government program revenues
88,947,313
162,590,893
6,703,574
34,364,229
11,920,851
25,378,464
7,637,644
2005
44,239,476
33,841,870
3,677,473
384,226
4,553,359
86,696,404
$
230,030,739
53,962,440
42,033,442
3,693,563
321,849
10,340,058
110,351,352
$
324,068,729
I-3
54,383,792
41,179,745
3,452,342
82,420
13,762,960
112,861,259
$
317,032,747
50,916,855
40,212,683
4,575,075
234,451
12,522,015
108,461,079
$
322,958,232
51,154,477
39,957,138
5,214,928
1,233,250
9,009,641
106,569,434
$
325,704,895
LAST TEN YEARS
2009
$
147,105,276
224,532,627
11,752,822
128,860,893
25,252,255
35,247,693
15,643,849
2010
$
131,653,631
247,201,013
9,118,306
126,630,202
24,664,070
38,464,068
15,529,282
2011
$
112,598,626
220,644,026
8,233,955
116,721,262
17,956,238
49,004,048
14,637,775
2012
$
2013
110,078,971
210,566,850
7,834,716
127,506,085
17,255,226
52,336,517
13,993,492
$
103,605,266
214,611,466
7,225,524
131,794,835
19,017,660
45,313,412
13,541,668
11,923,314
5,500
600,324,229
11,151,553
6,525
604,418,650
11,856,609
3,650,000
555,302,539
9,108,671
548,680,528
9,563,343
544,673,174
47,334,743
41,727,120
5,229,224
94,291,087
48,469,852
43,066,353
6,034,903
97,571,108
48,803,998
10,653,153
5,606,396
65,063,547
50,714,388
27,972,738
5,573,542
84,260,668
50,774,356
31,204,164
5,345,517
87,324,037
$
694,615,316
$
701,989,758
$
620,366,086
$
632,941,196
$
631,997,211
$
46,791,942
66,468,581
2,708,729
16,876,087
255,878
3,324,356
1,115,275
38,500,573
20,088,881
196,130,302
$
38,031,711
63,140,637
2,628,731
12,648,036
402,204
3,615,869
749,687
40,909,504
19,894,541
182,020,920
$
38,215,727
67,172,294
2,346,194
5,629,093
444,714
3,212,869
853,550
31,354,398
17,948,314
167,177,153
$
40,239,900
69,383,644
1,709,568
4,677,442
412,052
2,980,932
626,228
30,002,057
12,280,841
162,312,664
$
33,631,443
68,330,068
2,504,693
4,415,322
280,575
2,325,203
613,564
32,333,945
8,179,826
152,614,639
45,140,573
35,384,649
5,087,553
5,319,958
90,932,733
$
287,063,035
44,961,630
35,756,298
5,333,134
95,239
9,114,662
95,260,963
$
277,281,883
49,227,115
32,913,597
5,366,036
479,256
1,346,385
89,332,389
$
256,509,542
51,252,821
33,818,946
5,487,428
1,305,974
237,414
92,102,583
$
54,360,685
37,195,482
5,458,664
192,892
1,046,001
98,253,724
254,415,247
$
(continued)
I-4
250,868,363
LAST TEN YEARS
Fiscal Year
2004
Net (Expense) Revenue
Governmental activities
Total primary government net expense
General Revenues and Other Changes
in Net Position
Taxes
Property taxes
Fuel taxes
Sale taxes
Service taxes
Other taxes
State shared revenues
Investment earnings
Net change in Fair Value of Investments (1)
Gain on sale of capital assets
Miscellaneous
Transfers
Total governmental activities
$
$
$
Investment earnings
Net change in Fair Value of Investments (1)
Gain/Loss on sale of capital assets
Miscellaneous
Transfers
Total business-type activities
Total primary government
Change in Net Position
Governmental activities
Total primary government
2005
(203,109,273)
18,833,804
(184,275,469)
$
143,936,502
30,851,273
25,711,555
24,661,878
7,228,529
10,571,439
5,275,334
4,098
6,617,256
1,762,006
256,619,870
$
$
2006
(178,643,813)
37,819,583
(140,824,230)
$
154,013,630
31,671,464
51,184,459
30,509,371
10,159,941
11,104,257
8,035,743
6,255
5,471,163
1,177,005
303,333,288
$
$
2007
(292,608,909)
36,740,139
(255,868,770)
$
212,330,866
31,558,047
67,658,637
36,578,731
10,050,158
12,085,492
24,270,343
8,340
6,417,065
126,388
401,084,067
$
$
2008
(351,531,574)
24,625,319
(326,906,255)
$
259,791,634
32,296,281
64,889,808
38,050,584
9,830,171
11,896,686
34,688,449
94
6,516,126
(211,612)
457,748,221
$
$
251,663,449
30,878,550
58,925,302
41,063,565
10,976,624
11,202,545
23,805,282
27,663
5,486,076
(699,264)
433,329,792
3,241,152
5,706,584
9,169,093
10,966,412
7,476,436
549,562
(1,762,006)
2,028,708
1,109,153
(1,177,005)
5,638,732
1,515,850
(126,388)
10,558,555
9,796
1,731,728
211,612
12,919,548
3,851,589
699,264
12,027,289
$
258,648,578
$
308,972,020
$
411,642,622
$
470,667,769
$
$
53,510,597
20,862,512
74,373,109
$
124,689,475
43,458,315
168,147,790
$
108,475,158
47,298,694
155,773,852
$
106,216,647
37,544,867
143,761,514
$
$
(433,352,415)
12,108,034
(421,244,381)
$
$
$
(1) Net change in Fair Value of Investments was included in the Investments earnings amount for fiscal years 2004 - 2012.
I-5
$
445,357,081
(22,623)
24,135,323
24,112,700
Fiscal Year
2009
2010
2011
2012
$ (404,193,927)
(3,358,354)
$ (407,552,281)
$ (422,397,730)
(2,310,145)
$ (424,707,875)
$ (388,125,386)
24,268,842
$ (363,856,544)
$ (386,367,864)
7,841,915
$ (378,525,949)
$
$
$
$
$
$
243,487,472
29,729,288
54,596,914
40,398,930
10,005,152
10,053,121
19,190,605
3,442,382
(775,627)
410,128,237
216,289,675
29,353,181
52,925,965
42,652,529
9,469,499
10,043,254
9,958,159
18,034,746
5,906,519
394,633,527
185,000,565
28,514,524
54,828,461
40,693,633
9,168,910
10,350,001
6,766,324
14,673,720
(21,970)
349,974,168
2013
173,286,436
28,072,504
58,660,893
39,553,256
9,094,402
10,947,298
6,375,893
369,658
5,499,571
(57,264)
331,802,647
6,709,349
3,765,410
3,231,314
3,308,516
8,339,499
775,627
15,824,475
6,601,606
(5,906,519)
4,460,497
5,207,190
21,970
8,460,474
3,477,744
57,264
6,843,524
$
(392,058,535)
10,929,687
(381,128,848)
164,522,102
28,024,723
61,694,047
39,737,835
9,756,263
11,599,248
2,254,483
(5,775,806)
937,258
6,678,881
15,427,863
334,856,897
1,479,586
(4,052,963)
6,610,890
(15,427,863)
(11,390,350)
$
425,952,712
$
399,094,024
$
358,434,642
$
338,646,171
$
323,466,547
$
5,934,310
12,466,121
18,400,431
$
(27,764,203)
2,150,352
(25,613,851)
$
(38,151,218)
32,729,316
(5,421,902)
$
(54,565,217)
14,685,439
(39,879,778)
$
(57,201,638)
(460,663)
(57,662,301)
$
$
$
$
I-6
$
FUND BALANCES – GOVERNMENTAL FUNDS
LAST TEN YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)
Fiscal Year
2004
General Fund
Reserved
Unreserved
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total general fund
All Other Governmental Funds
Unreserved, reported in:
Special revenue funds
Debt service funds
Capital projects funds
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total all other governmental funds
$
$
$
$
55,541,475
55,541,475
78,656,850
7,571,087
85,115,058
171,342,995
2005
$
$
$
$
2006
80,936,741
80,936,741
$
$
125,882,182
10,594,245
65,136,844
201,613,271
$
$
I-7
110,154,823
110,154,823
208,565,997
18,840,670
141,568,756
368,975,423
2007
$
$
$
$
126,219,687
126,219,687
230,002,308
22,009,127
160,322,478
412,333,913
2008
$
$
$
$
77,865,239
77,865,239
227,301,730
23,310,720
177,104,445
427,716,895
2009
$
74,331,751
$ 74,331,751
$ 243,751,574
24,897,022
94,346,002
$ 362,994,598
2010
$
$
$
$
301,983
84,560,504
84,862,487
239,447,361
23,472,585
43,114,357
306,034,303
2011
$
$
$
$
1,048,565
283,097
71,162,488
72,494,150
56,412
188,583,685
60,901,656
34,324,198
(1,377,375)
282,488,576
2012
$
$
$
$
2,166,961
253,984
387,648
16,076,877
44,483,532
63,369,002
23,653
167,139,807
59,652,613
27,880,817
(1,549,015)
253,147,875
I-8
2013
$
$
$
$
1,973,966
3,855,045
1,573,131
23,075,160
37,330,730
67,808,032
154,060,530
56,047,382
21,241,820
(1,278,101)
230,071,631
CHANGES IN FUND BALANCES – GOVERNMENTAL FUNDS
LAST TEN YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)
2004
Revenues
Taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Special assessments
Interest
Net change in fair market value
of investments
Miscellaneous
Total revenues
$
Expenditures
General government
Public safety
Transportation
Human services
Debt service
Principal retirement
Interest
Bond issue costs
Capital outlay
Capital projects
Total expenditures
Excess of revenues over (under) expenditures
2005
232,389,740
7,732,916
50,192,368
41,357,247
6,445,693
31,215,943
4,902,083
$
2006
277,538,865
9,625,928
69,429,957
53,202,493
7,683,683
51,518,309
7,803,348
$
2007
358,176,440
8,148,919
54,274,318
57,648,293
11,188,111
60,099,009
21,747,345
$
361,980,988
6,933,129
105,368,451
52,099,419
11,009,497
59,440,194
33,001,214
(4,715)
13,532,824
387,764,099
(247,097)
18,091,847
494,647,333
1,138,811
11,026,062
583,447,308
890,967
15,249,226
645,973,085
83,789,097
161,966,752
6,754,474
38,910,647
13,901,823
24,719,369
7,232,737
90,062,381
186,638,732
10,879,359
44,425,090
14,299,160
31,273,057
8,572,932
109,417,724
174,871,733
10,191,479
54,058,551
18,777,210
44,964,661
11,359,963
119,738,506
191,193,056
13,013,427
110,127,528
25,992,224
73,000,078
30,509,424
11,283,596
10,692,061
1,553,076
35,594,590
396,398,222
6,155,537
7,518,291
141,527
40,358,195
440,324,261
5,979,255
10,129,918
1,485,775
49,870,323
491,106,592
13,085,001
13,321,224
36,099,337
626,079,805
(8,634,123)
54,323,072
92,340,716
19,893,280
90,906,888
(89,334,104)
9,592,427
(9,578,819)
1,586,392
16,210,179
(15,975,246)
25,945,987
(24,838,451)
1,342,469
102,885,000
2,618,885
26,202,637
(26,086,249)
105,620,273
53,209,000
(15,099,846)
1,854,187
38,384,565
(38,853,389)
39,494,517
Other financing sources (uses)
Bonds issued
Payments to escrow agent
Insurance proceeds
Premium on bonds
Transfers in
Transfers out
Total other financing sources (uses)
Net change in fund balance
Debt service as a percentage of noncapital
expenditures
$
(7,047,731)
6.4%
I-9
$
55,665,541
3.6%
$
197,960,989
3.9%
$
59,387,797
5.4%
2008
$
$
2009
352,798,478
7,458,163
99,547,937
54,490,040
10,871,456
58,681,131
22,673,517
$
2010
340,629,706
6,227,245
97,236,349
54,280,243
9,223,426
42,192,725
18,111,662
$
2011
314,583,312
5,661,414
110,449,762
50,776,155
3,352,235
36,188,333
9,871,447
$
2012
281,894,373
5,302,264
97,803,674
51,895,478
3,841,347
30,737,118
5,947,409
$
2013
271,088,886
5,331,550
92,854,299
52,805,417
3,099,750
32,919,271
5,728,447
$
264,332,941
5,763,182
100,151,316
55,722,198
3,324,339
32,986,754
2,809,376
(502,914)
33,962,672
639,980,480
1,670,398
20,122,817
589,694,571
239,941
20,449,399
551,571,998
(235,179)
19,546,422
496,732,906
718,935
19,771,754
484,318,309
(5,775,806)
18,427,058
477,741,358
124,162,349
200,766,798
13,384,559
135,450,606
29,292,594
85,689,379
15,689,647
117,095,231
213,998,885
9,005,477
112,614,973
25,753,437
40,982,897
18,428,483
110,182,329
218,853,018
7,405,014
99,072,704
26,435,137
49,610,299
15,363,648
102,149,741
208,543,862
6,743,536
80,041,111
18,464,529
58,015,961
19,006,809
96,648,169
206,018,477
7,261,795
81,034,665
17,868,768
54,899,600
20,017,311
101,361,491
209,489,887
7,599,038
76,568,333
19,012,090
45,721,572
16,953,340
15,572,873
12,672,789
38,673,612
671,355,206
16,893,372
12,399,053
91,278,544
658,450,352
16,591,661
11,392,554
50,661,275
605,567,639
16,905,000
11,141,068
18,713,702
539,725,319
19,110,000
9,639,819
10,369,492
522,868,096
15,890,773
8,949,526
10,424,900
511,970,950
(31,374,726)
(68,755,781)
(53,995,641)
(42,992,413)
(38,549,787)
(34,229,592)
76,813,646
(78,410,386)
(1,596,740)
35,680,150
(35,180,154)
499,996
39,531,762
(32,562,172)
6,969,590
85,300,000
(81,676,531)
4,243,780
23,103,512
(24,097,162)
204,750
7,078,349
15,698,498
(15,755,762)
141,201
83,937
33,240,244
(17,812,381)
164,515
15,592,378
(32,971,466)
5.2%
$
(68,255,785)
6.2%
$
(47,026,051)
$
(35,914,064)
6.0%
6.2%
I-10
$
(38,465,850)
6.2%
$
(18,637,214)
5.3%
JUST VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN YEARS
(RATE PER $1,000 OF ASSESSED VALUE)
Real Property - Just Value
Residential
Property
Fiscal
Year
2004
$
14,005,762,635
Commercial
Property
$
2,676,766,771
Industrial
Property
$
1,006,382,780
Agriculture
Property
$
1,386,914,960
Other
Property
$
2,167,233,746
2005
15,541,662,572
2,796,204,483
1,138,686,719
1,405,337,046
2,211,529,495
2006
19,187,343,994
3,075,203,891
1,253,095,890
1,516,071,776
2,969,664,213
2007
26,999,469,197
4,137,676,884
1,531,200,311
2,069,811,164
3,225,636,287
2008
31,384,172,410
4,632,918,746
1,911,166,103
2,596,121,745
3,410,105,931
2009
32,672,956,646
4,908,981,022
2,098,536,173
2,680,844,081
3,393,377,533
2010
26,752,833,828
4,754,311,891
1,923,489,255
2,452,614,521
3,310,852,765
2011
21,303,582,960
4,048,895,637
1,602,055,199
2,018,471,598
3,117,556,403
2012
19,297,238,891
3,739,548,099
1,528,104,333
1,790,740,413
3,073,752,672
2013
17,793,857,357
3,904,127,611
1,527,153,862
1,701,901,000
3,093,822,099
Source: Polk County Property Appraiser
(1) Just values are determined by the Polk County Property Appraiser on January 1 of each year
at 100% of fair market value as is required by Florida Statutes, Section 192.042. Taxable values
are based on just value after deducting allowable exemptions.
I-11
Total
Just Value
$
21,243,060,892
Personal
Property
$
5,299,930,204
Total Real and
Personal Property
$
26,542,991,096
Less: Tax-exempt
Property
$
7,597,458,276
Total Taxable
Value
$
Total
Direct
Tax Rate
18,945,532,820
7.7270
23,093,420,315
5,438,850,468
28,532,270,783
7,938,422,811
20,593,847,972
7.7270
28,001,379,764
5,907,916,220
33,909,295,984
10,106,531,401
23,802,764,583
8.7270
37,963,793,843
6,188,325,036
44,152,118,879
13,832,959,994
30,319,158,885
8.3330
43,934,484,935
5,745,395,834
49,679,880,769
14,032,611,449
35,647,269,320
6.8665
45,754,695,455
5,939,146,939
51,693,842,394
17,312,834,305
34,381,008,089
6.8665
39,194,102,260
5,661,005,660
44,855,107,920
14,556,679,860
30,298,428,060
6.8665
32,090,561,797
5,739,919,867
37,830,481,664
11,854,326,888
25,976,154,776
6.8665
29,429,384,408
5,797,920,118
35,227,304,526
10,850,286,520
24,377,018,006
6.8665
28,020,861,929
5,686,296,368
33,707,158,297
10,530,065,413
23,177,092,884
6.8665
I-12
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN YEARS
Year Taxes Are Payable
2008
2009
2004
2005
2006
2007
County Direct Rates
General Fund
Debt Service
Environmental Lands
Land Management Trust
Health
Total direct rate
7.5270
0.1250
0.0750
7.7270
7.5270
0.1000
0.1000
7.7270
8.6270
0.1000
8.7270
8.2730
0.0600
8.3330
6.8065
0.0600
6.8665
City Rates
Auburndale
Bartow
Davenport
Dundee
Eagle Lake
Ft Meade
Frostproof
Haines City
Highland Park
Hillcrest Heights
Lake Alfred
Lake Hamilton
Lake Wales
Lakeland
Mulberry
Polk City
Winter Haven
4.5160
3.5000
6.5000
7.0000
7.0000
1.0000
7.0000
6.9900
6.4294
0.4900
7.0580
7.1480
9.4400
3.5450
8.5000
6.6880
6.9900
4.5160
4.5000
6.5000
7.0000
8.5000
1.0000
7.0000
6.9900
6.4294
0.4663
7.0580
7.1480
9.4400
3.5450
8.5000
6.7425
6.9900
4.5160
4.5000
6.5000
7.0000
8.5000
3.5000
7.0000
6.9900
7.4294
0.4361
7.0580
7.1480
8.9400
3.5450
8.5000
6.7425
6.9500
4.4100
4.5000
6.5000
7.0000
8.5000
3.5000
8.5000
6.8900
7.4294
0.3571
7.0580
7.1480
8.4400
3.5450
8.5000
6.7425
6.9000
County School District
Local
State
Capital Improvements
0.7390
5.5780
2.0000
0.7290
5.4770
2.0000
0.7600
5.3180
2.0000
-
-
0.1950
0.3771
0.2840
0.1000
0.3130
0.4220
0.2850
0.4200
0.4880
0.1950
0.3635
0.2840
0.1000
0.3130
0.4220
0.2850
0.2400
0.4880
Unincorporated County MSTU
Parks
Library
Special Districts:
Peace River Basin
Lake Region LMD
South FL WMD
Everglades Construction
Okeechobee
St Johns RMD
SW FLA WMD
Hillsborough River Basin
Alafia River Basin
Lake Deeson
Lakeland Mass/Transit
2010
2011
2012
2013
6.8065
0.0600
6.8665
6.8065
0.0600
6.8665
6.8065
0.0600
6.8665
6.8065
0.0600
6.8665
6.8665
6.8665
3.3317
3.1161
4.6911
7.0000
6.7614
2.7959
7.1395
6.8185
7.3161
0.3306
6.5800
5.5766
7.3521
3.2296
7.8358
6.6707
5.8644
3.3317
3.9962
4.5695
7.0000
7.4225
3.0435
7.8209
6.9900
7.3161
0.3149
6.5800
6.0000
7.3277
3.4031
8.0573
6.7425
5.7900
3.8393
3.9962
5.9792
7.0000
7.6516
3.3509
7.8209
6.9900
8.3161
0.3125
6.5800
7.0000
7.3277
3.6538
8.0500
7.8000
5.7900
3.8393
3.9962
6.0000
7.0000
7.6516
3.3509
7.8209
6.9900
9.9759
0.3100
6.5800
7.0000
7.3277
4.1644
8.9000
8.6547
5.7900
3.8393
3.9962
6.9900
7.6495
7.6516
3.3509
7.8209
6.9900
9.9759
0.3100
6.9990
7.5930
7.9998
4.1644
8.9000
8.6547
5.7900
4.2657
3.9962
7.7500
7.6495
7.6516
5.6484
7.8209
7.9900
9.9759
0.3075
7.5890
8.2117
8.5119
4.6644
8.9000
8.6547
5.7900
0.7600
5.0100
2.0000
0.7600
4.7520
2.0000
0.7480
5.1360
1.7500
0.9980
5.0880
1.5000
0.9980
5.2940
1.5000
2.2480
5.4220
-
1.5000
5.9920
-
0.5000
0.2500
0.5000
0.2500
0.4219
0.2109
0.4219
0.2109
0.4219
0.2109
0.4219
0.2109
0.4219
0.2109
0.4219
0.2109
0.1950
0.3635
0.2840
0.1000
0.3130
0.4220
0.2850
0.2400
0.4880
0.1950
0.3635
0.2840
0.1000
0.3130
0.4220
0.2850
0.2400
0.4880
0.1827
0.3134
0.2549
0.0894
0.2797
0.3866
0.2547
0.2163
0.4880
0.1827
0.3350
0.2549
0.0894
0.2797
0.3866
0.2547
0.2163
0.5000
0.1827
0.3833
0.2549
0.0894
0.2797
0.3866
0.2421
0.2163
0.5000
0.1827
0.4478
0.2549
0.0894
0.2797
0.3770
0.2300
0.2163
0.5000
0.4829
0.1785
0.0624
0.1954
0.3928
0.5000
0.4996
0.1757
0.0613
0.1919
Source: Polk County Tax Collector's Office
I-13
0.3928
0.5000
PRINCIPAL PROPERTY TAX PAYERS
CURRENT YEAR AND NINE YEARS AGO
2013
Taxable
Value
Taxpayer
Duke Energy/Florida Power
$
Rank
2004
Percentage
of Total County
Taxable
Value
1,134,662,798
1
4.90%
Tampa Electric
553,039,533
2
2.39%
Mosaic
453,757,970
3
1.96%
Publix Supermarkets
292,196,666
4
1.26%
Verizon Florida
218,589,516
5
0.94%
Coca Cola
204,322,381
6
0.88%
Gulfstream Natural Gas
154,209,455
7
0.67%
Calpine Construction Finance
150,993,434
8
0.65%
Walmart
114,334,088
9
0.49%
97,684,036
10
0.42%
Cutrale Citrus Juices Inc USA
Taxable
Value
$
Rank
Percentage
of Total County
Taxable
Value
418,415,060
1
2.21%
394,786,560
2
2.08%
-
-
267,121,323
6
1.41%
269,905,388
5
1.42%
-
-
8
0.79%
-
-
9
0.67%
-
-
148,804,001
126,160,512
-
Cargill Fertilizer Inc
-
-
275,983,187
4
1.46%
Auburndale Power
-
-
103,966,400
10
0.55%
CSX Transportation Inc
-
-
359,613,890
3
1.90%
IMC Phosphates
-
-
250,217,458
7
1.32%
Total
$
3,373,789,877
Total Taxable Value:
$
23,177,092,884
14.56%
Source: Polk County Property Appraiser
I-14
$
2,614,973,779
$
18,945,532,820
13.80%
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN YEARS
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Total Tax
Levy for
Fiscal Year (2)
$
147,082,178
161,690,703
207,717,380
252,650,981
244,795,490
236,717,691
208,673,287
179,322,329
168,385,828
159,938,591
Total
Adjusted Levy
Adjustments
$
4,549,685
5,220,054
6,868,142
8,110,624
7,719,596
7,339,158
6,651,269
5,807,277
5,506,772
5,314,246
Collected within the Fiscal Year
of the Levy
Collections
Percentage
in Subsequent
Amount (1)
of Levy
Years
$
151,631,863
166,910,757
214,585,522
260,761,605
252,515,086
244,056,849
215,324,556
185,129,606
173,892,600
165,252,837
$
140,882,758
153,321,359
199,981,390
243,398,272
234,276,092
226,754,272
201,588,617
172,679,893
161,578,807
153,389,026
Notes:
(1) Current and delinquent collections include penalties.
(2) Property taxes become due and payable on November 1 of
each year. A four percent discount is allowed if the taxes are
paid in November with the discount declining by one
percent each month thereafter. Accordingly, taxes collected
will never be 100% of the tax levy. Taxes become delinquent
on April 1 of each year and tax certificates for the full amount
of any unpaid taxes and assessments must be sold not later
than June 1 of each year.
I-15
95.79%
94.82%
96.28%
96.34%
95.70%
95.79%
96.60%
96.30%
95.96%
95.90%
$
2,584,413
1,190,701
1,131,082
840,398
2,097,260
2,141,104
1,379,366
1,441,464
941,596
945,826
Total Collections
To Date
Amount
$
143,467,171
154,512,060
201,112,472
244,238,670
236,373,352
228,895,376
202,967,983
174,121,357
162,520,403
154,334,852
Percentage
of Adjusted
Levy
94.62%
92.57%
93.72%
93.66%
93.61%
93.79%
94.26%
94.05%
93.46%
93.39%
RATIOS OF OUTSTANDING DEBT BY TYPE
LAST TEN YEARS
Sales Tax
Increment
Bonds (1)
Fiscal
Year
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Notes:
$
78,625,000
74,525,000
70,345,000
64,320,000
57,765,000
50,935,000
43,810,000
38,370,000
30,830,000
29,260,000
Constitutional
Fuel Tax
Bonds
$ 18,200,000
17,165,000
16,080,000
38,670,000
37,300,000
35,865,000
34,290,000
32,555,000
30,575,000
28,380,000
Local Option
Fuel Tax /
Public Service
Public Service
Tax Bonds
Tax Bonds
$
60,090,000
60,090,000
60,090,000
59,495,000
57,440,000
55,290,000
53,045,000
53,035,000
51,290,000
49,335,000
$
88,885,000
87,535,000
85,965,000
84,350,000
82,680,000
80,950,000
79,150,000
77,285,000
Deferred Amts:
Premium/Discount/
On Refunding
$
(828,207)
(886,632)
260,350
1,584,848
1,529,740
1,474,632
1,419,524
4,804,962
4,596,264
6,658,261
Details regarding the County's outstanding debt can be found in the notes to the financial statements.
(1) Total consists of more than one issuance.
I-16
Net
Bonds
Payable
$
156,086,793
150,893,368
235,660,350
251,604,848
239,999,740
227,914,632
215,244,524
209,714,962
196,441,264
190,918,261
Interlocal
Agreements
$
3,532,037
3,233,639
2,925,321
7,096,587
13,267,166
12,271,774
11,320,113
10,005,113
8,985,113
9,136,538
Commercial
Paper
$
14,000,000
25,314,000
22,089,000
18,864,000
15,639,000
12,414,000
7,189,000
-
Total
Governmental
Debt
Capital
Leases
$
3,785,646
3,110,109.00
2,395,854
1,640,853
842,980
-
$
163,404,476
157,237,116
254,981,525
285,656,288
276,198,886
259,050,406
242,203,637
232,134,075
212,615,377
200,054,799
I-17
LAST TEN YEARS
Fiscal
Year
Water and Sewer
Bonds (1)
Deferred Amts:
Premium/Discount/
On Refunding
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
$
$
77,784,062
117,226,380
115,425,483
113,835,000
111,720,000
109,510,000
153,555,000
151,135,000
148,600,000
139,985,000
(730,938)
(568,620)
(434,517)
(300,415)
(168,736)
10,649
1,419,379
1,476,262
1,409,676
8,897,515
Net
Bonds
Payable
$
77,053,124
116,657,760
114,990,966
113,534,585
111,551,264
109,520,649
154,974,379
152,611,262
150,009,676
148,882,515
I-18
Capital
Leases
$
316,133
237,981
157,057
73,255
24,665
-
Contracts
Payable
$
434,333
358,768
281,259
79,882
71,842
71,842
71,842
71,842
71,842
71,842
LAST TEN YEARS
Total
Business-Type
Debt
$
77,803,590
117,254,509
115,429,282
113,687,722
111,647,771
109,592,491
155,046,221
152,683,104
150,081,518
148,954,357
Total
Primary
Government
$
241,208,066
274,491,625
370,410,807
399,344,010
387,846,657
368,642,897
397,249,858
384,817,179
362,696,895
349,009,156
Percentage
of Personal
Income
Per
Capita
1.71%
1.75%
2.09%
2.19%
2.09%
1.94%
2.04%
1.90%
1.67%
1.59%
456
507
656
687
662
631
660
636
598
568
I-19
PLEDGED REVENUE COVERAGE
SALES TAX REVENUE BONDS
LAST TEN YEARS
Sales
Taxes
Fiscal Year
2004
$
25,711,554
Debt Service
Interest
Principal
$
5,495,000
$
5,129,203
Total
$
Coverage
10,624,203
2.42
2005
28,522,863
4,445,000
3,702,127
8,147,127
3.50
2006
30,702,832
4,180,000
3,526,387
7,706,387
3.98
2007
29,161,326
6,025,000
3,318,525
9,343,525
3.12
2008
27,193,729
6,555,000
3,063,798
9,618,798
2.83
2009
24,206,014
6,830,000
2,784,156
9,614,156
2.52
2010
23,315,093
7,125,000
2,484,144
9,609,144
2.43
2011
24,160,286
7,280,000
1,907,338
9,187,338
2.63
2012
25,873,338
7,540,000
1,393,313
8,933,313
2.90
2013
27,423,241
1,570,000
1,186,750
2,756,750
9.95
Note: Details regarding the County's outstanding debt can be found in the financial statements.
I-20
CONSTITUTIONAL FUEL TAX REVENUE REFUNDING BONDS
LAST TEN YEARS
Constitutional
Fuel
Taxes
Fiscal Year
2004
$
6,484,286
Debt Service
Interest
Principal
$
990,000
$
941,312
Total
$
Coverage
1,931,312
3.36
2005
6,851,605
1,035,000
896,245
1,931,245
3.55
2006
6,682,452
1,085,000
848,003
1,933,003
3.46
2007
6,774,169
1,135,000
1,263,617
2,398,617
2.82
2008
6,478,577
1,370,000
1,716,591
3,086,591
2.10
2009
6,338,180
1,435,000
1,660,491
3,095,491
2.05
2010
6,183,857
1,575,000
1,600,291
3,175,291
1.95
2011
6,140,204
1,735,000
1,538,429
3,273,429
1.88
2012
6,207,627
1,980,000
1,468,466
3,448,466
1.80
2013
6,093,497
2,195,000
1,384,966
3,579,966
1.70
I-21
LOCAL OPTION FUEL TAX AND PUBLIC SERVICE TAX BONDS
LAST TEN YEARS
Local Option
Fuel
Taxes
Fiscal Year
2004
$
7,634,267
Public
Service
Tax (1)
$
3,148,013
Debt Service
Interest
Principal
$
1,880,000
$
4,371,130
Total
$
Coverage
6,251,130
1.72
2005
7,250,557
4,146,560
-
2,605,256
2,605,256
4.37
2006
7,241,386
5,332,153
-
2,965,788
2,965,788
4.24
2007
7,430,944
5,319,663
595,000
2,950,373
3,545,373
3.60
2008
7,224,861
5,391,987
2,055,000
2,891,559
4,946,559
2.55
2009
7,089,743
5,634,629
2,150,000
2,797,460
4,947,460
2.57
2010
6,943,812
6,148,279
2,245,000
2,697,450
4,942,450
2.65
2011
6,673,807
5,868,625
2,145,000
2,411,215
4,556,215
2.75
2012
6,586,611
5,664,761
1,745,000
2,239,738
3,984,738
3.07
2013
6,523,909
5,801,829
1,955,000
2,188,600
4,143,600
2.97
(1) The Transportation Improvement Revenue Bonds are collateralized by a pledge
of revenues from the 5-cents per gallon local option fuel tax and 2.0% public service tax.
Public Service Tax amounts have been revised to only report the amount that is pledged.
Previously, the total amount of Public Service Tax was reported.
I-22
PUBLIC SERVICE TAX REVENUE BONDS
LAST TEN YEARS
Public
Service
Tax (1)
Fiscal Year
2004
2005
$
Debt Service Requirements
Interest
Principal
-
2006
21,328,519
2007
21,278,598
2008
$
-
$
-
-
Total
$
Coverage
-
-
-
$
-
2,270,629
2,270,629
9.39
1,350,000
4,186,538
5,536,538
3.84
21,567,926
1,570,000
4,135,006
5,705,006
3.78
2009
22,538,433
1,615,000
4,084,231
5,699,231
3.95
2010
24,592,620
1,670,000
4,026,911
5,696,911
4.32
2011
23,473,885
1,730,000
3,961,235
5,691,235
4.12
2012
22,658,565
1,800,000
3,894,010
5,694,010
3.98
2013
23,206,800
1,865,000
3,826,416
5,691,416
4.08
-
(1) The Public Facilities Revenue Bonds, Series 2005 were sold in November 2005.
The Public Facilities Revenue Bonds are collateralized by a pledge of 8.0%
public service tax. Public Service Tax amounts have been revised to only report the
amount pledged. Previously, the total amount of Public Service Tax was reported.
I-23
WATER AND SEWER BONDS
LAST TEN YEARS
Gross
Revenues (2)
Year
2004
$
30,649,876
Net Revenues
Available for
Debt Service
Operating
Expenses (1)
$
17,835,246
$
12,814,630
Principal
$
Debt Service Requirements
Interest
1,625,000
$ 3,961,275
$
Total
Coverage
5,586,275
2.29
2005
34,526,100
25,251,249
9,274,851
380,000
7,800,849
8,180,849
1.13
2006
41,199,248
24,889,569
16,309,679
1,935,000
5,820,751
7,755,751
2.10
2007
42,876,747
28,060,120
14,816,627
2,025,000
5,730,896
7,755,896
1.91
2008
41,555,426
32,794,380
8,761,046
2,115,000
5,640,701
7,755,701
1.13
2009
41,751,381
33,722,513
8,028,868
2,210,000
5,544,866
7,754,866
1.04
2010
42,229,479
33,283,110
8,946,369
2,315,000
5,441,679
7,756,679
1.15
2011
46,136,831
30,008,935
16,127,896
2,420,000
8,214,025
10,634,025
1.52
2012
48,190,199
33,754,650
14,435,549
2,535,000
7,969,564
10,504,564
1.37
2013
49,727,954
32,312,821
17,415,133
2,660,000
7,334,165
9,994,165
1.74
(1) Expenses are exclusive of depreciation.
(2) Gross revenues exclude connection fees associated with the implementation
of Governmental Accounting Standards Board Statement No. 33 - Accounting
and Financial Reporting for Nonexchange Transactions. It also does not include
miscellaneous revenue and interest income.
I-24
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN YEARS
Year
Personal
Income
(thousands of dollars)
Population (1)
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
528,389
541,840
565,049
581,058
585,733
584,343
602,095
604,792
606,888
613,950
$
(4)
14,106,930
15,657,009
17,752,709
18,203,966
18,563,050
19,033,220
19,469,344
20,228,478
21,693,818
21,946,257
Per Capita
Personal
Income
$
(2)
(2)
Public
School
Enrollment
26,698
28,896
31,418
31,329
31,692
32,572
32,336
33,447
35,746
35,746
Source:
(1) Bureau of Economic and Business Research
(2) Per capita personal income was not available for 2013. 2012 per capita income was used, along with
2013 population data to determine the personal income data.
(3) Florida Department of Education
(4) 2010 U.S. Census Bureau
I-25
83,191
89,875
91,494
92,015
92,449
93,746
93,115
93,810
94,920
95,333
(3)
Unemployment
Rate
5.5%
4.1%
3.4%
4.8%
7.9%
12.8%
13.3%
12.0%
9.7%
8.0%
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
2013
2004
Rank
Percentage
of Total
County
Employment
Rank
Percentage
of Total
County
Employment
13,800
1
5.13%
12,200
1
4.93%
10,470
2
3.89%
8,300
2
3.35%
Walmart
5,100
3
1.89%
3,800
5
1.54%
Polk County Government
4,500
4
1.67%
4,500
3
1.82%
Lakeland Regional Medical Center
4,500
5
1.67%
3,800
6
1.54%
State of Florida
4,300
6
1.60%
4,400
4
1.78%
Mosiac
3,000
7
1.11%
City of Lakeland
2,600
8
0.97%
2,450
8
0.99%
Winter Haven Hospital
2,500
9
0.93%
2,500
7
1.01%
Geico
2,300
10
0.85%
2,200
9
0.89%
1,600
10
0.65%
Employer
Employees
Polk County School Board
Publix Super Markets
State Farm Insurance
53,070
Average annual labor force :
19.72%
269,168
Employees
45,750
247,405
Source:
Central Florida Development Council
Florida Department of Economic Opportunity, Labor Market Statistics Center.
I-26
18.49%
OPERATING INDICATORS BY FUNCTION AND PROGRAM
LAST TEN YEARS
2004
General Government
Business Licenses (3)
County Attorney
Request for legal service
Land Development (1)
# of residential plans reviewed
# of non-residential plans reviewed
# of inspections performed
# of subdivision final plats processed
# of non-residential plats processed
# of customer service info requests
# of site plan approval reviews
Public Safety
Fire Rescue (4)
Responses per year
Average response time (minutes)
Fire Protection
Responses per year
Ambulance Services
Responses per year
Communications Center (5)
911 Calls
Sheriff
Average Inmate Population
% Crime Rate per Capita
Calls for Service
911 Calls
Building Permits
Single-residential
Commercial
Utilities - Number of customers
Water
Sewer
Re-use
Solid Waste
Tons Collected
Tons Recycled
Environmental Lands
Acres acquired
Transportation
Transportation
Lane miles of roads resurfaced
Roadway Maintenance
Mowing (Acres)
Chemical Mowing (Acres)
Shoulders Maintained (Feet)
Drainage Ditches Cleaned (Feet)
2005
2006
2007
30,928
38,854
38,275
38,000
1,938
2,157
2,279
2,301
-
825
1,098
1,445
553
589
16,737
185
951
1,165
4,382
645
648
18,073
207
1,096
1,284
8,884
600
507
-
-
-
-
-
23,405
9
23,776
9
28,000
9
32,386
9
70,096
10
70,729
10
72,850
10
64,352
10
98,650
59,563
66,000
68,808
2,528
2,718
2,545
2,455
3.2%
219,578
-
3.2%
223,949
-
3.0%
243,177
-
3.3%
271,637
-
5,979
441
8,411
631
5,502
157
2,095
170
47,715
30,523
4,353
52,015
34,039
4,729
54,659
36,631
4,916
56,097
38,112
5,578
750,053
4,260
921,529
6,489
783,464
8,141
733,188
8,686
51
-
1,658
205
37
46
52
98
35,184
7,188
1,140,669
608,671
39,995
6,908
520,186
560,041
39,210
28,029
1,161,558
472,256
43,133
8,672
1,614,940
380,398
I-27
2008
2009
2010
2011
2012
2013
34,157
34,805
36,120
32,685
33,998
33,479
1,922
2,224
2,738
1,395
1,352
1,047
721
1,573
9,633
1,721
-
325
1,079
6,292
170
-
180
679
4,059
172
15
241
721
*
220
15
307
880
*
162
73
33
-
-
-
76,258
7.36
74,880
7.20
75,034
7.08
26,830
7
26,687
7
26,935
7
-
-
-
79,890
9
78,803
8
77,686
8
-
-
-
66,170
79,000
80,000
-
-
-
2,374
2,327
2,194
2,109
2,407
2,463
3.4%
277,109
-
3.2%
273,751
-
3.0%
319,846
-
2.7%
327,007
271,578
2.5%
344,121
355,374
254
1166
*
703
103
27
2.3%
310,906
397,011
1,654
138
781
89
726
44
662
181
822
223
1,105
301
55,782
38,448
3,268
56,530
39,728
3,334
57,539
40,618
3,493
57,905
41,067
3,914
58,321
41,519
4,113
59,291
42,466
4,402
717,235
8,904
631,285
10,079
579,327
9,982
586,363
14,267
558,493
27,336
595,289
14,841
226
4,585
22
34
1.25
-
131
60
54
31
116
180
32,450
8,436
1,274,665
452,841
25,162
8,259
936,672
437,131
25,214
7,460
810,478
316,555
21,550
7,056
509,686
415,881
25,584
6,713
668,012
331,748
31,120
7,904
596,589
381,890
I-28
OPERATING INDICATORS BY FUNCTION AND PROGRAM (CONTINUED)
LAST TEN YEARS
2004
Business Development
Businesses Recruited
Jobs Created
Sports Marketing
Number of events assisted or managed
Human Services
Veterans Services
Veterans Assisted
Outreach services
Elderly Services
In-home Nutrition Meals
Congregate meals served (2)
In-Home Service (clients)
Medicaid Waiver Programs (clients)
Parks and Recreation
Special Events patrons
Summer Camp attendees
Campground rentals
Homeland Heritage Park patrons
Historical Museum
Total patrons
Historical Library
Total patrons
2005
2006
2007
8
725
15
750
18
994
7
570
115
165
175
207
7,215
720
9,921
1,421
7,754
2,749
7,045
2,800
207,638
104,137
1,673
235
218,011
100,336
1,987
301
250,068
91,837
1,723
310
220,155
100,959
1,844
332
7,702
580
7,084
7,718
3,493
621
9,015
6,208
11,658
555
10,025
5,182
12,220
526
9,378
4,536
26,586
23,407
28,136
31,194
2,147
2,001
7,624
9,123
Notes:
* Information not available
- Operating indicator was not performed during fiscal year.
(1) In 2005, the County Engineer office, Development Services, and the Planning
division were consolidated into one department called Land Development.
(2) Fiscal year 2004 and 2005 included three hurricanes that hit our area; extra funds were
given to provide extended shelf life meals to clients who did not have electricity to cook for themselves.
(3) In years 2006, 2007, and 2008, the reported numbers included inactive licenses.
Changes have been made to those years to reflect only Business licenses sold.
(4) In FY 10/11, the Public Safety Department was eliminated and the Emergency Medical Services (EMS)
and Emergency Management Division were absorbed by the Fire Rescue Division. The information
provided represents the totals for the consolidated Fire Rescue Division.
(5) Communications Center transferred to the Sheriff's Office during FY 11.
Previous numbers only included BoCC Communications Center.
Number reported in FY 11 and FY 12 includes all Communications Centers now under the Sheriff.
I-29
2008
2009
2010
2011
2012
2013
13
1,176
7
543
10
1,268
6
498
11
597
5
454
226
225
203
220
225
216
8,269
4,207
7,239
2,343
4,276
1,253
2,623
*
2,588
18
2,419
45
209,329
101,871
873
280
212,046
101,447
885
341
196,661
101,933
804
284
153,544
99,737
497
263
143,811
100,454
529
248
123,082
93,853
404
221
18,311
500
9,123
4,387
21,681
508
8,667
4,319
19,468
590
8,777
4,405
20,796
610
9,117
4,343
58,447
492
8,282
2,031
63,043
510
9,117
5,344
28,779
36,415
30,298
37,587
33,818
33,070
11,603
62,909
83,825
114,361
123,114
91,354
I-30
FULL-TIME EQUIVALENT GOVERNMENT EMPLOYEES BY FUNCTION
LAST TEN YEARS
Function
2004
2005
2006
Full-time Equivalent Employees
2007
2008
2009
2010
2011
2012
2013
General government
1,048
1,088
1,143
1,120
1,147
1,098
1,154
1,112
1,047
1,042
Public safety
2,245
2,309
2,320
2,458
2,499
2,455
2,416
2,493
2,389
2,388
76
75
75
77
77
59
54
55
55
59
377
288
287
295
298
286
280
258
258
255
51
51
55
65
65
33
34
34
34
33
278
350
356
386
374
439
329
277
340
342
75
75
83
93
93
93
90
82
82
82
235
220
217
221
224
226
215
205
207
209
77
69
51
56
55
56
56
51
51
51
4,462
4,525
4,587
4,771
4,832
4,745
4,628
4,567
4,463
4,461
Transportation
Human services
Utilities
Solid Waste
Total
Source: Office of Management and Budget Services
Listing of funded positions by function.
I-31
CAPITAL ASSET STATISTICS BY FUNCTION AND PROGRAM
LAST TEN YEARS
2004
2005
2006
3,500,451
3,457,197
3,457,197
3,503,901
3,473,730
-
-
-
-
-
28
143
28
147
28
141
29
154
31
137
22
58
22
60
22
59
22
51
22
51
574
318
141
610
342
153
647
375
168
672
400
177
811
495
*
42
11
225
*
42
11
255
*
45
11
270
*
45
11
290
*
55
10
300
3,353
11,604
11,604
13,232
13,427
13,693
2,108
509
2,145
508
2,235
435
2,261
399
2,290
374
-
-
-
-
-
Human Services
Fixed-Route/WHAT Buses
Paratransit Vans
19
37
19
40
19
37
18
36
17
35
Recreational Parks
Boat Ramps/Launch Lanes
Historical Library
Historical Museum
55
35
1
1
55
35
1
1
53
29
1
1
43
34
1
1
45
34
1
1
General Government
Square footage of Building Space
Public Safety
Fire Rescue (2)
Stations
Vehicles
Fire Protection
Stations
Vehicles
Ambulance Services
Stations
Vehicles
Utilities
Miles of sewer and water lines
Water
Sewer
Re-use
Utility Plants
Water
Sewer
Lift Stations
Potable Hydrants
Environmental Lands
Number of acres owned
Transportation
Miles of Roads
Paved
Unpaved
(1)
2007
2008
Source: Various County Departments.
Notes:
*
Information not available.
(1)
There were no capital assets to report for Economic Environment.
(2)
In FY 10/11, the Public Safety Department was eliminated and the Emergency Medical Services (EMS)
and Emergency Management Division were absorbed by the Fire Rescue Division. The information
provided represents the totals for the consolidated Fire Rescue Division.
I-32
2009
2010
2011
2012
3,618,304
3,749,658
3,900,614
-
-
45
272
2013
3,889,086
4,035,156
45
272
45
259
30
159
32
158
-
-
-
22
51
19
51
-
-
-
845
519
163
856
529
167
858
531
171
915
562
187
903
553
191
40
9
305
3,073
38
9
293
3,128
39
9
293
3,145
57
8
292
3416
55
8
297
3495
18,278
2,319
352
-
18,300
2337
342
18,334
2346
337
18,335
18,335
2429
261
2439
260
-
-
-
-
19
35
17
33
23
31
23
32
20
40
46
37
1
1
49
37
1
1
52
40
1
1
54
51
1
1
56
52
1
1
I-33
OTHER SUPPLEMENTAL SCHEDULES
(UNAUDITED)
Capital Improvement Revenue Bonds, Series 2002, 2004A, and 2010
Distribution Percentages
Historical Sales Tax Revenues of the County
Public Facilities Revenue Bonds, Series 2005
Revenue Sharing Trust Fund for Counties Receipts
Pledged Revenue Share Monies
Pro Forma Debt Coverage
Constitutional Fuel Tax Revenue Refunding Bonds, Series 2006
Historical Distribution of Constitutional Fuel Tax Revenues
to Polk County
Historical Gasoline Sales, Population Count, Distribution Factor and
Relative Land Area for Polk County
Transportation Improvement Revenue Bonds, Series 2010
Annual Share of Polk County Fuel Tax Revenue
Motor Fuel Gallons sold in Polk County
Polk County Distribution Percentages (Under Ordinance No. 87.04)
Annual Public Service Tax Revenue
Utility Systems Revenue Bonds, Series 2003, 2004A 2004B, 2010, and 2012
Historical Revenues and Expenses
Residential Water, Wastewater and Reclaimed Water Rates
Water System Permitted Capacity, Actual Demand and Peak Demand
Wastewater System Permitted Capacity, Actual Flows and Peak Flows
I-34
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2002, 2004A AND 2010
CONTINUING DISCLOSURE
There are seventeen incorporated municipalities in the County, and for the County's Fiscal Year ended September 30, 2013, the
approximate distribution factors for the County and the municipalities were as follows:
Recipient
Approximate Share of
Sales Tax Distribution
Polk County
City of Auburndale
City of Bartow
City of Davenport
City of Dundee
City of Eagle Lake
City of Fort Meade
City of Frostproof
City of Haines City
69.822327
1.805957
2.274419
0.393662
0.498090
0.303716
0.744942
0.399641
2.745007
Approximate Share of
Sales Tax Distribution
Recipient
City of Lake Alfred
City of Lake Hamilton
City of Lakeland
City of Lake Wales
City of Mulberry
City of Polk City
City of Winter Haven
City of Hillcrest Heights
Village of Highland Park
Source: State of Florida, Department of Revenue
County
Fiscal Year
Ended September 30
2009
2010
2011
2012
2013
Sales Tax Receipts
% Change
24,206,013.96
23,315,092.91
24,160,285.97
25,873,337.85
27,423,241.02
------(3.68)
3.63
7.09
5.99
Source: Polk County, Florida, Clerk of Circuit Court-Finance Department
I-34
0.667353
0.165144
12.979030
1.894707
0.502873
0.207526
4.532098
0.032949
0.030558
PUBLIC FACILITIES REVENUE BONDS, SERIES 2005
State
Fiscal Year
Ended
June 30
Total
Eligible
Counties
Population (1)
County
Population (1)
2009
2010
2011
2012
2013
577,657
582,527
580,757
598,621
601,249
County
Unincorporated
Population (1)
18,560,971
18,683,310
18,624,024
18,673,368
18,777,429
Annual
Polk County
Sales Tax
Collections
State
Unincorporated
Population (1)
359,479
362,219
360,384
372,357
374,102
9,066,168
9,132,227
9,105,683
9,230,433
9,286,660
Annual
Statewide
Sales Tax
Collections
$ 382,943,404 (3) $ 15,912,699,547 (3)
361,414,015
15,429,436,176
371,310,872
16,135,004,130
399,279,515
16,997,643,303
428,625,087
18,040,245,249
Revenue Sharing Trust Fund For Counties Receipts
State Fiscal Year Ended June 30
Cigarette Tax (2)
Sales Tax
Total Receipts
Guaranteed Entitlement
for Florida Counties
Second Guaranteed
Entitlement for
Florida Counties
$
2009
11,133,875
328,562,857
339,696,732
$
$
$
$
2010
7,921,916
316,894,751
324,816,667
30,329,957
$
30,329,957
$
30,329,957
$
30,329,957
$
30,329,957
64,756,373
$
64,756,373
$
64,756,373
$
64,756,373
$
64,756,373
$
$
2011
8,192,260
331,113,975
339,306,235
$
2012
8,120,956
346,750,351
354,871,307
$
$
2013
7,588,390
366,351,387
$ 373,939,777
$
(1) In prior years, total population numbers were reported for each fiscal year. The adjusted population estimates exclude the estimated number
of inmates and patients in institutions operated by the federal government, the Florida Departments of Corrections, Department of Health,
and Department of Children and Family Services. Pursuant to s.186.901, F. S., such inmates and patients are not considered residents for the
purpose of determining revenue-sharing allocations.
(2) Represents 2.9% of total cigarette taxes collected after deducting certain charges for administration and collection.
(3) Amount reported in FY 2009 has been revised.
Source: Department of Revenue of the State of Florida
I-35
PUBLIC FACILITIES REVENUE BONDS, SERIES 2005 (CONTINUED)
Fiscal Year
Ended
September 30
2009
2010
2011
2012
2013
Pledged Revenue Sharing Moneys
(Equals 50 % of Previous Fiscal Year's
Revenue Sharing Monies) (2)
Revenue
Sharing Money (1)
$
10,053,121
10,043,254
10,350,001
10,947,298
11,599,248
$
5,601,273
5,026,561
5,021,627
5,175,000
5,473,649
1). Not pledged as a source of security for the Series 2005 Bonds.
2). Pledged as a source of security for the Series 2005 Bonds.
PRO FORMA DEBT SERVICE COVERAGE
Fiscal Year
Ended
September 30
2009
2010
2011
2012
2013
Pledged
Public Service
Tax Revenues (1)
$
22,538,433
24,592,620
23,473,885
22,658,565
23,206,800
Pledged
Revenue
Sharing Moneys
$
5,601,273
5,026,561
5,021,627
5,175,000
5,473,649
Maximum
Annual
Debt Service
Total
Pledged Funds
$
28,139,706
29,619,181
28,495,512
27,833,565
28,680,449
(1)
Amounts have been revised to report only the 8.0% pledged amount.
In previous years, all Public Service Tax collected was reported.
I-36
$
5,729,538
5,729,538
5,729,538
5,729,538
5,729,538
Debt
Service
Coverage
4.91x
5.17x
4.97x
4.86x
5.01x
CONSTITUTIONAL FUEL TAX REVENUE REFUNDING BONDS, SERIES 2006
Historical Distribution of Constitutional Fuel Tax Revenues to Polk County
Fiscal Year Ended
September 30
2009
2010
2011
2012
2013
Constitutional Fuel Tax
Allocated to the County
$
Percentage
Increase/(Decrease)
6,338,180
6,183,857
6,140,204
6,207,627
6,093,497
(2.17)
(2.43)
(0.71)
1.10
(1.84)
Fiscal Year Ended
September 30
2009
2010
2011
2012
2013
Constitutional Fuel
Tax Revenues
$
6,338,180
6,183,857
6,140,204
6,207,627
6,093,497
Maximum Annual
Debt Service
$
Debt
Service Coverage(1)
3,959,241
3,959,241
3,959,241
3,959,241
3,959,241
(1)The Debt Coverage ratio presented here does not account for any interest income earned on Constitutional
Fuel Tax Revenues.
I-37
1.60
1.56
1.55
1.57
1.54
CONSTITUTIONAL FUEL TAX REVENUE REFUNDING BONDS, SERIES 2006
Historical Gasoline Sales, Population Count, Distribution Factor and Relative Land Area for Polk County
State Fiscal Year
Ended June 30
2009
2010
2011
2012
2013
Polk County
Motor Fuel
Gallons
231,698,735
233,286,137
226,219,842
221,613,734
219,855,408
Polk County
Motor Fuel Diesel
Gallons
Polk County
Total Taxable
Gallons
77,967,742
74,058,699
76,291,043
71,081,836
72,678,849
309,666,477
307,344,836
302,510,886
292,695,570
292,534,257
The population count of Polk County and the State of Florida is set forth below for the years indicated:
State Fiscal Year
Ended June 30
2009
2010
2011
2012
2013
Polk County
Population Count (1)
577,657
582,527
580,757
598,621
601,249
State of Florida
Population Count (1)
Distribution
Factor
18,560,971
18,683,310
18,624,024
18,673,368
18,777,429
3.2607
3.2543
3.2274
3.2399
3.2131
For the State Fiscal Years ended June 30, 2009 through 2013, Polk County land area has comprised 0.83950% of the
total land area of the State of Florida.
Source:
Florida Department of Revenue
(1) Population counts presented here are used by the Florida Department of Revenue to determine Constitutional
Fuel Tax distributions and are based on the most recent United States Census Bureau numbers as updated
by the Population Estimate Reports (excluding inmates) for the years indicated. Population counts
were revised to reflect the fiscal year they were used to calculate the distribution factor.
I-38
State of Florida
Total Taxable
Gallons
9,624,038,845
9,605,551,915
9,610,739,101
9,481,424,607
9,543,990,278
TRANSPORTATION IMPROVEMENT REVENUE BONDS, SERIES 2010
Annual Share of Polk County Fuel Tax Revenues
Fiscal Year
ended
September 30
Share for
Polk County
2009
2010
2011
2012
2013
$
7,089,743
6,943,812
6,673,807
6,586,611
6,523,909
Motor Fuel Gallons Sold in Polk County
State
Fiscal Year
Gallons of
Ended June 30
Motor Fuel Sold
2009
231,698,735
2010
233,286,137
2011
226,219,842
2012
221,613,734
2013
219,855,408
(1): Data on this table does not include gallons of diesel fuel sold. Diesel fuel is not subject to taxation
under Section 336.025(1)(b), Florida Statutes.
I-39
(1)
TRANSPORTATION IMPROVEMENT REVENUE BONDS, SERIES 2010 (CONTINUED)
Polk County Distribution Percentages
Under Ordinance No. 87.04 (1)
Determined on
July 1
County
Percentage
2009
2010
2011
2012
2013
65.737%
64.959%
64.983%
65.078%
65.250%
Public Service Tax Revenue (2)
Fiscal Year
Ended
September 30
Metered/
Bottled Gas
2009
2010
2011
2012
2013
$
$
$
$
$
196,066
165,907
137,941
120,380
124,225
Electricity
$
$
$
$
$
4,695,280
5,263,645
4,933,544
4,752,359
4,901,892
Water
$
$
$
$
$
743,262
718,603
796,986
791,902
775,583
Fuel Oil
$
$
$
$
$
21
124
154
120
129
Total
$
$
$
$
$
Source: Polk County, Florida Clerk of Circuit Court - Finance Department
Note:
(1)
Ordinance No. 87-04 enacted by the Polk County Board of County Commissioners on June 23, 1987
pursuant to which distribution percentages are established on July 1st of each year based on the following
formula: 40 % of the distribution is based on the percentage of miles of roads maintained by the County
or the respective municipalities with the County; 60 % of the distribution is based on the pro rata
population of the respective municipalities and the unincorporated area of the County.
(2) The Transportation Improvement Revenue Bonds are collateralized by a pledge
of revenues from the 5-cents per gallon local option fuel tax and 2.0% public service tax.
Public Service Tax amounts have been revised to only report the amount that is pledged.
Previously, the total amount of Public Service Tax was reported.
I-40
5,634,629
6,148,279
5,868,625
5,664,761
5,801,829
UTILITY SYSTEMS REVENUE BONDS, SERIES 2003, 2004A, 2004B, 2010 AND 2012
2009
Gross Revenues (1)
Charges for Services (2)
Miscellaneous Revenue (3)(4)
Sub-total Charges for Service &
Miscellaneous Income
I nterest Income (5)
Sub-total Operating and Non-operating
Income
Less income from Connection Charges (6)
Total Gross Revenues
Cost of Operation and Maintenance (7)
Personal Services (8)
Operations, Maintenance and Other Expenses (9)
Indirect (10)
Total Cost of Operation and Maintenance (11)
Net Revenues Available for Debt Service (A)
Plus Available Connection Charges (B)(12)(13)
Available Connection Charges
Interest Income or Connection Charges (6)
Total Available Connection Charges (B)
Net Revenues Plus Available Connection
'Charges Available for Debt Service ( C )
Annual Bond Service Requirement(D)
2010
2011
2012
2013
$
41,751,381
5,709,353
$
42,229,479
4,071,595
$
46,136,831
2,588,004
$
48,190,199
2,267,179
$
49,727,954
3,731,558
$
47,460,734
2,235,814
$
46,301,074
1,084,773
$
48,724,835
1,233,342
$
50,457,378
870,967
$
53,459,512
442,562
$
49,696,548
803,123
48,893,425
$
47,385,847
147,574
47,238,273
$
49,958,177
21,195
49,936,982
$
51,328,345
76,895
51,251,450
$
53,902,074
82,618
53,819,456
$
$
11,026,171
19,400,404
1,954,991
32,381,566
$
$
10,994,448
17,586,695
2,094,928
30,676,071
$
$
13,172,079
18,230,603
2,738,829
34,141,511
$
$
13,326,922
18,066,309
2,250,000
33,643,231
$
10,952,290
18,067,232
1,880,929
30,900,451
$
15,250,194
$
13,096,762
$
19,260,911
$
18,869,884
$
22,919,005
$
$
$
3,062,622
76,895
3,139,517
$
$
3,090,284
21,195
3,111,479
$
$
2,732,151
147,574
2,879,725
$
$
3,389,192
803,123
4,192,315
$
4,632,731
82,618
4,715,349
$
19,442,509
$
15,976,487
$
22,372,390
$
22,009,401
$
27,634,354
$
7,754,866
$
7,756,679
$
10,634,025
$
10,504,564
$
9,994,165
$
$
$
$
$
$
Test A
Debt Service Coverage Ration (A/D)
Excluding Available Connection Charges (1.10x Required)
1.97
1.69
1.81
1.80
2.29
1.97
1.69
1.81
1.80
2.29
2.51
2.06
2.10
2.10
2.77
Or
Test B
Debt Service Coverage Ration (A/D)
Excluding Available Connection Charges (1.00x Required)
And
Debt Service Coverage Ratio (C/D)
(Including Expansion Projects Connection
Charges) (1.25x Required)
NOTES:
1. Gross Revenues and Cost of Operation and Maintenance for the fiscal years ended September 30, 2009 through and including 2013 are audited.
2. Charges for services increased from $41.8 million in the fiscal year ended September 30, 2009 to $49.7 million in the fiscal year ended September 30,
2013 or 20 % based on a combination of growth in water, sewer, and reclaimed water customers and the implementation of five percent (5 %) annual
rate increases on September 30, 2010, 2011, 2012, and 2013. The increase in customer growth over the period was mitigated by a decline in water use
during the past five fiscal years. Connection Charges of $3,389,192, $2,732,151, $3,090,284, $3,062,622 and $4,632,731 for fiscal year
I-41
(CONTINUED)
ended September 30, 2009 through 2013, respectively, are excluded from Charges for Services. In the fiscal year ended
September 30, 2011, increase in Charges for Services was due to the 5% increase in rates and also the County had
experienced an increase in sewer customers from the fiscal year ended September 30, 2010.
3.
Miscellaneous revenues includes Subsidy Payments. Pursuant to the Sequestration Transparency Act of 2012, as a
consequence of the Joint Select Committee on Deficit Reduction's failure to propose, and Congress' failure to enact, a
plan to reduce the federal deficit by $1.2 trillion (as required by the Budget Control Act of 2011 by January 2, 2013),
the President of the United States, in his report to Congress of sequestration for fiscal year 2013, included in such
sequestration the payments authorized for direct-pay bonds, such as the Series 2010 Bonds, issued under the Recovery
and Reinvestment Act of 2009. the sequestration cut for direct-pay bonds was initially scheduled to last through fiscal
year 2021. However, the Bipartisan Budget Act of 2013, extended the sequestration cut through fiscal year 2023.
Congress recently approved a bill which would further extend sequestration through fiscal year 2024. The President is
expected to sign such bill in the near future. On March 4, 2013, the Internal Revenue Service announced that payments
to issuers of direct pay bonds, such as the Series 2010 Bonds, were subject to a reduction of 8.7% of the amount budgeted
through September 30, 2013. On Sepember 30, 2013, the Internal Revenue Service announced that payments to issuers
of direct pay bonds, such as the Series 2010 Bonds, are subject to a reduction of 7.2% of the amount budgeted for such
payment through September 30, 2014. For the County's October 1, 2013 Subsidy Payment, the County received an
amount equal to $439,615.48 which represented an 8.7% reduction of the full amount due ($481,506.55). The County's
next two Subsidy Payments are not due until April 1, 2014 and October 1, 2014. Currently, the County is without
information to quantify how sequestration might affect the Subsidy Payments beyond September 30, 2014. No
assurance can be given that legislative proposals may be introduced or enacted by Congress that would or might apply to,
or have an adverse affect upon, the County's receipt of Subsidy Payments. Payment of debt service on the Series 2010
Bonds is not contingent upon receipt by the County of the Subsidy Payments and the County does not expect that any
such reduction in Subsidy Payments will affect its ability to pay debt service on the Bonds.
4 When compared to information presented in the County's Comprehensive Annual Financial Report for the Fiscal Year
ended September 30, 2012, Miscellaneous Revenue for fiscal year ended September 30, 2011 was understated by
$377,529, respectively. The amount represents grant proceeds which is not a component of Gross Revenues, and
was deducted twice in error when such Comprehensive Annual Financial Report was prepared.
5. Amounts reflect interest and investment earnings on all accounts created by the Resolution, including investment income
derived from Connection Charges on deposit, as reported by County staff. These amounts do not include any adjustments
for the market value of the investments.
6 Gross Revenue exclude income derived from Connection Charges, including investment income,; however, such amount
is includable in Test B of the rate convenant whereby Available Connection Charges and investment income derived from
Available Connection Charges not added to Net Revenues.
I-42
(CONTINUED)
7 Amounts exclude depreciation and amortization expenses , payments in lieu of taxes (PILOT) of $1,127,397,
$1,220,385, $1,333,515, $1,376,563, and $1,412,370 for FY 2009 through FY 2013 respectively, and
capitalized labor. Based on the County's review of budget to actuals results, the actual expenses were
approximately 90% of the adopted budget for each year.
8 In the fiscal year ended September 30, 2011, the Other Postemployment Benefit Obligation adjustment
decreased approximately $1.6 million from the fiscal year ended September 30, 2010. There were 11
positions eliminated in August 2010, which added to the decrease in Personal Services in the fiscal year
ended September 30, 2011.
9 Includes all operating expenses and losses on disposition of equipment. The operating expenses related to
eliminated positions in the Fiscal Year ended September 30, 2010 and the closing of three satellite offices
contributed to the decrease in Personal Services in the Fiscal year ended September 30, 2011. Other Expenses
include only GIS mapping charges.
10 Amount reflects an Operating transfer from the Water and Sewer Fund to the General Fund to account for
allocated operating and administrative expenses associated with utility services.
11 Excludes depreciation and amortization expenses, payment in lieu of taxes (PILOT) and capitalized labor.
Based on the County's review of budget to actuals results, the historical expenses were approximately 90%
of the budget for each year.
12 As of the issuance of the Series 2012 Bonds, the Water Expansion Project Percentage is 26.4% and the Sewer Expansion
Project Percentage is 54.20%.
As of the issuance of the Series 2013 Bonds, (issued December 19, 2013), and based on updated information related to
funding and timing of certain projects in the County's capital improvement program, the Water Expansion Project
Percentage has been recalculated and is equal to 31.17% and the Sewer Expansion Project Percentage has been
recalcuated and is equal to 52.25 %.
13. Due to the recent recession, customer growth has declined which has similarly caused Connection Charges to decline in recent
years. Connection Charges from new development have declined since October 1, 2008, but have remained stable over
the last five (5) years or approximately $3.4 million per year on average.
Source: Polk County, Florida Utilities Department
I-43
RESIDENTIAL WATER, WASTEWATER AND RECLAIMED WATER RATES
Residential Water Rates
Effective Date
Indexing Rate
Base Charge
Usage Block Ranges
(in thousands of gallons)
0-3
4 - 10
11 - 20
21 - 30
31 - 40
Over 40
Effective Date
Indexing Rate
Base Charge
Usage per thousand
gallons up to 7,000 gallons
Effective Date
Indexing Rate
Reclaimed Water Base Charge
Usage Block Ranges
0 - 20
21 - 30
31 - 40
Over 40
10/01/2012
5%
$
8.79
10/01/2013
5%
$
9.23
10/01/2014
5%
$
9.69
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1.67
2.22
4.41
6.63
8.83
15.47
1.75
2.33
4.63
6.96
9.27
16.24
1.84
2.45
4.86
7.31
9.73
17.05
Residential Wastewater Rates
10/01/2012
10/01/2013
5%
5%
$
32.78
$
34.42
10/01/2014
5%
$
36.14
$
$
5.88
$
6.17
Residential Reclaimed Water Rates
10/01/2012
10/01/2013
5%
5%
N/A
N/A
$
$
$
$
1.28
3.83
5.10
7.67
$
$
$
$
1.34
4.02
5.36
8.05
6.48
10/01/2014
5%
N/A
$
$
$
$
I-44
1.41
4.22
5.63
8.45
COMMERCIAL/MULTI-FAMILY WATER, WASTEWATER AND
RECLAIMED WATER RATES
COMMERCIAL/MULTI-FAMILY WATER RATES
Effective Date
Indexing Rate
10/01/2012
5%
5/8" & 3/4" Base Charge
$
13.19
5/8" & 3/4" Usage Block Ranges (in thousands of gallons)
0 - 15
$
2.22
16 - 30
$
4.41
31 - 60
$
8.83
over 60
$
15.47
10/01/2013
5%
10/01/2014
5%
$
13.85
$
14.54
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
21.97
$
23.07
$
24.22
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
1-1/2" Base Charge
$
43.94
1- 1/2" Usage Block Ranges (in thousands of gallons)
0 - 50
$
2.22
51 - 100
$
4.41
101 - 200
$
8.83
over 200
$
15.47
$
46.14
$
48.45
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
70.30
$
73.82
$
77.51
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
3" Base Charge
$
3" Usage Block Ranges (in thousands of gallons)
0 - 150
$
151 - 300
$
$
301 - 600
over 600
$
131.81
$
138.40
$
145.32
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
4" Base Charge
$
0 - 250
$
251 - 500
$
501 - 1,000
$
over 1,000
$
219.70
$
230.69
$
242.22
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
6" Base Charge
$
0 - 500
$
501 - 1,000
$
1,001 - 2,000
$
over 2,000
$
439.39
$
461.36
$
484.43
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
1" Base Charge
$
0 - 25
$
26 - 50
$
51 - 100
$
over 100
$
2" Base Charge
$
0 - 80
$
81 - 160
$
161 - 320
$
over 320
$
I-45
RECLAIMED WATER RATES (CONTINUED)
Effective Date
Indexing Rate
10/01/2012
5%
8" Base Charge
0 - 800
801 - 1,600
1,601 - 3,200
over 3,200
10" Base Charge
0 - 1,150
1,151 - 2,300
2,301 - 4,600
over 4,600
12" Base Charge
0 - 2,150
2,151 - 4,300
4,301 - 8,600
over 8,600
10/01/2013
5%
10/01/2014
5%
$
703.04
$
738.19
$
775.10
$
$
$
$
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
$
1,010.61
$
1,061.14
$
1,114.20
$
$
$
$
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
$
1,890.62
$
1,985.15
$
2,084.41
$
$
$
$
2.22
4.41
8.83
15.47
$
$
$
$
2.33
4.63
9.27
16.24
$
$
$
$
2.45
4.86
9.73
17.05
Commercial/Multi-Family Wastewater Rates
Effective Date
Indexing Rate
10/01/2012
5%
10/01/2013
5%
10/01/2014
5%
Base Charge 5/8"& 3/4" Meter
Base Charge 1" Meter
Base Charge 1 - 1/2" Meter
$
$
$
$
$
$
$
$
$
$
49.16
81.94
163.87
262.20
491.64
819.39
1,638.78
2,622.04
3,769.19
7,046.61
$
$
$
$
$
$
$
$
$
$
51.62
86.04
172.06
275.31
516.22
860.36
1,720.72
2,753.14
3,957.65
7,398.94
$
$
$
$
$
$
$
$
$
$
54.20
90.34
180.66
289.08
542.03
903.38
1,806.76
2,890.80
4,155.53
7,768.89
Usage Charge Per 1,000 Gallons
$
5.88
$
6.17
$
6.48
I-46
RECLAIMED WATER RATES (CONTINUED)
Commercial/Multi-Family Reclaimed Water Rates
5/8 Inch & 3/4 Inch Rates
Effective Date
10/01/2012
10/01/2013
10/01/2014
Indexing Rate
5%
5%
5%
N/A
N/A
N/A
Usage Block Ranges
0 - 30
$
1.28
$
1.34
$
1.41
31 - 45
$
3.83
$
4.02
$
4.22
45 - 60
$
5.10
$
5.36
$
5.63
Over 60
$
7.67
$
8.05
$
8.45
1 Inch Rates
Effective Date
Indexing Rate
Usage Block Ranges
0 - 50
51 - 75
76 - 100
Over 100
1.5 Inch Rates
Effective Date
Indexing Rate
Usage Block Ranges
0 - 50
51 - 75
76 - 100
Over 100
2 Inch Rates
Effective Date
Indexing Rate
Usage Block Ranges
0 - 160
161 - 240
241 - 320
Over 320
Bulk Priority
Bulk Interruptible
10/01/2012
5%
N/A
$
$
$
$
1.28
3.83
5.10
7.67
10/01/2012
5%
N/A
$
$
$
$
1.28
3.83
5.10
7.67
10/01/2012
5%
N/A
10/01/2013
5%
N/A
$
$
$
$
1.34
4.02
5.36
8.05
10/01/2013
5%
N/A
$
$
$
$
1.34
4.02
5.36
8.05
10/01/2013
5%
N/A
10/01/2014
5%
N/A
$
$
$
$
1.41
4.22
5.63
8.45
10/01/2014
5%
N/A
$
$
$
$
1.41
4.22
5.63
8.45
10/01/2014
5%
N/A
$
$
$
$
1.28
3.83
5.10
7.67
$
$
$
$
1.34
4.02
5.36
8.05
$
$
$
$
1.41
4.22
5.63
8.45
$
$
0.95
0.41
$
$
1.00
0.43
$
$
1.05
0.45
I-47
WATER AND WASTEWATER CONNECTION CHARGES
Water Connection Fees
Effective Date
Indexing Rate
Type of Residence
Single Family Detached Units on Lots of 1.0
Acres or Less
Single Family Detached Units on Lots of More
than 1.0 Usable Acre
Multi-family Units Including Apartments,
Condos, Duplexes, Triplexes, etc.
Mobile Homes of Lots of Less Than 6000
Square Feet
Mobile Homes on Lots of 6000 Square Feet or
More
Park Model RVs
Destination RVs*
All other RVs Including Transient RVs
10/01/2011
5%
$
2,844.00
$
4,268.00
$
1,564.00
$
1,707.00
$
$
$
$
2,844.00
1,564.00
1,564.00
1,564.00
Wastewater Connections Fees
Effective Date
Indexing Rate
Type of Residence
Single Family Detached Units on Lots of 1.0
Acres or Less
Single Family Detached Units on Lots of More
than 1.0 Usable Acre
Multi-family Units Including Apartments,
Condos, Duplexes, Triplexes, etc.
Mobile Homes of Lots of Less Than 6000
Square Feet
Mobile Homes on Lots of 6000 Square Feet or
More
Park Model RVs
Destination RVs*
All other RVs Including Transient RVs
10/01/2011
5%
$
4,195.00
$
4,195.00
$
2,810.00
$
2,810.00
$
$
$
$
4,195.00
2,307.00
2,810.00
4,195.00
NOTE:
A Destination RV must be: (1) Sited on a lot owned in fee simple by the user; (2) Sited in a park that is platted subdivision;
(3) Sited on a lot 3,000 square feet or larger; and (4) Sited in a park that does not have a dump station or undivided interest lot
sales or time share lot sales. This category of user is subject to inspection by Polk County Utilities to ensure that Destination
RVs are not Transient RVs. Destination RV lots used by Transient RVs will be subject to a 1.0 ERC sewer connection charge.
I-48
WATER AND WASTEWATER CONNECTION CHARGES (CONTINUED)
COMMERCIAL
Water Connection Fees
Commercial Water Connection fees will be assessed on projected daily usage, in accordance with the
Polk County Utilities Code, divided by 360 gallons to calculate the Equivalent Residential Connection
(ERC). This ERC will be multiplied by connection fee assessed for a single Family Detached Unit on
lots one acre or less.
Wastewater Connection Fees
Commercial Wastewater Connection fees will be assessed on projected daily usage, in accordance
with the Polk County Utilities Code, divided by 270 gallons to calculate the Equivalent Residential
Connection (ERC). This ERC will be multiplied by connection fee assessed for a single Family
Detached Unit on lots one acre or less.
I-
SCHEDULE OF MISCELLANEOUS FEES
Fees Description
Current Charge
New Account Charge
3/4" - 2" meter
Larger than 2" meter
Deposit
Residential
Water
Sewer
Combined
Commercial
Water
Sewer
Combined
Same Day Service (During Business Hours)
Same Day Service (After Business Hours)
Return Check or Draft (1)
Checks $50 or less
Checks $51 - $300
$
$
55.00
70.00
$
$
$
75.00
110.00
185.00
2.5 X Est. Monthly Bill
$
60.00
$
80.00
As established by Polk County
Clerk of Courts by policy (no
change at this time)
Checks $301 or more
Premise Visit charge
$
60.00
Disconnect for Nonpayment
Less than 2" meter
2" Meter and above
3/4" Temporary Absence Disconnect
$
$
$
60.00
105.00
60.00
Service Restoration/Reconnection Charge
Less than 2" meter
2" Meter and above
$
$
60.00
105.00
Meter Installation/Reinstallation Charge
3/4" Meter
1" Meter
1-1/2" Meter
2" Meter
Larger than 2" meter
$
$
$
$
Temporary Meter Installation
2" Meter On Hydrant
Installation requiring Line Tap
Meter Exchange Charge (for size change)
$
$
450.00
550.00
900.00
1,415.00
Actual cost
105.00
195.00
(1) Return check fees are established by the Polk County Clerk of Courts Office and are adjusted from time to time.
II-49
SCHEDULE OF MISCELLANEOUS FEES (CONTINUED)
`
Current Charge
Meter Test Charge (Field Test)
Less than 2" meter
2" Meter and above
(This fee is waived if meter is not registering
within AWWA standards.)
Penalty for Meter Tampering/Theft of Service
1st Infraction
2nd Infraction
3rd Infraction
Penalty for Obscured Meter
Penalty for Connection to Other Systems
Penalty for Cross Connection
Relocate Meter
Less than 2" meter
2" Meter and above
Water Audit
Reclaimed Water Follow-up Inspection
Late Payment
$
90.00
Actual cost
$
$
$
$
$
$
100.00
500.00
1,000.00
60.00
500.00
500.00
$
175.00
Actual cost
$
75.00
$
60.00
$
6.00
or 5% of payment due,
whichever is greater, on
balances over $14.99
Backflow test (Municipal Charge)
3/4" to 2" Meter
Larger than 2" Meter
$
90.00
Actual cost
Surcharge for High Strength Industrial Wastes shall be calculated and applied pursuant to Section 30 (E),
"Wastewater Constituent Limitation," contained in Polk County Utilities Code Ordinance 03-21 as amended.
II-50
UTILITY SYSTEM REVENUE BONDS, SERIES 2003, 2004A, 2004B, 2010 AND 2012
Water Systems
Regional Utility Service Areas
(Public Water Systems)
Central Regional Utility Service Area (CRUSA)
(Gordonville/Lake Garfield)
East Regional Utility Service Area (ERUSA)
(Waverly/Sun Air/Timberlake/Lake Wales/Oak Acres)
NE Regional Utility Service Area (NERUSA) 5
SWFWMD Permit
SFWMD Permit
Subtotal NE Regional Utility Service Area (NERUSA)
NW Regional Utility Service Area (NWRUSA)
(North Lakeland/Country Class)
SW Regional Utility Service Area (SWRUSA)
(Imperialakes/TurnerRd/ValleyView/Bradley Junction)
Permitted
Capacity
"Annual Average"
(MGD)1,2
Actual
Total Flow
"Annual Total"
(MG)1,3
Actual
Daily Flow
"Annual Average"
(MGD)1,3
Peak
Demand
"Max Day During YR"
(MGD)1,4
2.271
348.177
0.954
1.295
1.373
176.410
0.483
0.590
10.919
5.000
15.919
1,619.260
827.687
2,446.947
N/A
N/A
6.708
N/A
N/A
8.332
5.085
881.402
2.415
2.866
7.000
1,088.492
2.982
3.490
1.367
186.525
0.511
0.630
0.094
33.109
13.385
5,141.338
0.037
14.090
0.053
N/A
SE Regional Utility Service Area (SERUSA)
(Sun Ray/Lakeview/Little Sun Ray/Babson Park)
Walk in Water (Isolated Permit and System)
Total
(1) MGD is Million Gallons per Day
(2) From Water Management District Permits for entire Regional Utility Service Areas (includes all water systems in
region).
(3) As reported on operating reports to FDEP
(4) Based on actual peak day flow
(5) The SFWMD portion is a separate permit from the rest of the NERUSA (under SWFWMD) . The NERUSA service area is physically
interconnected as one system and subject to a regional cap of 13.919 MGD.
Source: Polk County, Utilities Department
II-51
UTILITY SYSTEM REVENUE BONDS, SERIES 2003, 2004A, 2004B, 2010 AND 2012 (CONTINUED)
Wastewater Systems
Wastewater Treatment Facility
Central Regional
Commbeewoods
Heritage Place
NE Regional
NW Regional
Sun Ray (Southeast)
SW Regional
Waverly (East)
Total
Permitted
Capacity
"Annual Average"
(MGD)1,2
Actual
Total Flow
"Annual Total"
(MG)1,3
Actual
Daily Flow
"Annual Average"
(MGD)1,3
Actual Total
Public Access Reuse
"Annual Total"
(MG)1,3
1.100
0.056
0.060
3.000
1.515
194.180
9.855
11.315
977.835
299.665
0.532
0.027
0.031
2.679
0.821
N/A
N/A
N/A
485.815
255.550
1.000
4.000
0.130
10.861
98.550
524.870
8.760
2,125.030
0.270
1.438
0.024
5.822
N/A
276.305
N/A
1,017.670
(1) MGD is Million Gallons per Day (Total MG divided by 365 days)
(2) From FDEP Operating permits for Annual Average Daily Flow (AADF)
(3) As reported on monthly operating reports or annual reuse report operating reports to FDEP
(4) The US27 & 192 (Polo Park) Wastewater Treatment Facility was removed from service in March 2012 and the flow was diverted
to the NE Regional.
Source: Polk County, Utilities Department
II-52
COMPLIANCE SECTION
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the business-type activities, each major fund, and the aggregate remaining fund information
of Polk County, Florida (the “County”), as of and for the year ended September 30, 2013, and the
related notes to the financial statements, which collectively comprise the County’s basic financial
statements.
We have also audited the financial statements of the North Ridge Community
Redevelopment Agency, Harden/Parkway Community Redevelopment Agency, Polk Commerce Centre
Community Redevelopment Agency, and the Eloise Community Redevelopment Agency (each CRA is a
nonmajor special revenue fund) which are presented in the accompanying combining and individual fund
schedule section as of and for the year ended September 30, 2013, as listed in the table of contents, and
have issued our report thereon dated March 26, 2014.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the County's internal
control over financial reporting (internal control) to determine the audit procedures that are appropriate
in the circumstances for the purpose of expressing our opinions on the financial statements, but not for
the purpose of expressing an opinion on the effectiveness of the County’s internal control. Accordingly,
we do not express an opinion on the effectiveness of the County’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a material
misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a
timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control
that is less severe than a material weakness, yet important enough to merit attention by those charged
with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
J-1
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County's financial statements are free
from material misstatement, we performed tests of its compliance with certain provisions of laws,
regulations, contracts, and grant agreements, noncompliance with which could have a direct and
material effect on the 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.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the result of that testing, and not to provide an opinion on the effectiveness of the
entity’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity’s internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
Lakeland, Florida
March 26, 2014
J-2
INDEPENDENT AUDITORS’ REPORT 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 AND
CHAPTER 10.550, RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA
Report on Compliance for Each Major Federal and State Program
We have audited Polk County, Florida’s (the “County”) compliance with the types of compliance
requirements described in the OMB Circular A-133 Compliance Supplement and the requirements
described in the Florida Department of Financial Services State Projects Compliance Supplement that
could have a direct and material effect on each of the County’s major federal programs and state
projects for the year ended September 30, 2013. The County’s major federal programs and state
projects are identified in the summary of auditors’ results section of the accompanying schedule of
findings and questioned costs.
Management’s Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and
grants applicable to its federal programs and state projects.
Auditors’ Responsibility
Our responsibility is to express an opinion on compliance for each of the County’s major federal
programs and state programs based on our audit of the types of compliance requirements referred to
above. We conducted our audit of compliance 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; OMB Circular
A-133, Audits of States, Local Governments, and Non-Profit Organizations and Chapter 10.550, Rules
of the Auditor General. Those standards, OMB Circular A-133, and Chapter 10.550, Rules of the
Auditor General, require that we plan and perform the audit to obtain reasonable assurance about
whether noncompliance with the types of compliance requirements referred to above that could have a
direct and material effect on a major federal program and 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 on compliance for each major
federal program and state project. However, our audit does not provide a legal determination of the
County’s compliance.
J-3
Basis for Qualified Opinion on Transit Formula Grants Program (CFDA – 20.509), Medical
Assistance Program (CFDA – 93.778), and Community Care for the Elderly (CFDA – 65.010)
As described in the accompanying schedule of findings and questioned costs, the County did not
comply with requirements regarding Medical Assistance Program (CFDA – 93.778) as described in
finding number 2013-01 for reporting. The County also did not comply with requirements regarding
Transit Formula Grants Program (CFDA – 20.509), Medical Assistance Program (CFDA – 93.778), and
Community Care for the Elderly (CFDA – 65.010) as described in finding number 2013-02 for allowable
costs. Compliance with such requirements is necessary, in our opinion, for the County to comply with
the requirements applicable to that program.
Qualified Opinion on Transit Formula Grants Program (CFDA – 20.509), Medical Assistance
Program (CFDA – 93.778), and Community Care for the Elderly (CFDA – 65.010)
In our opinion, except for the noncompliance described in the Basis for Qualified Opinion paragraph,
the County complied, in all material respects, with the types of compliance requirements referred to
above that could have a direct and material effect on federal programs Formula Grants Program (CFDA
– 20.509), Medical Assistance Program (CFDA – 93.778), and Community Care for the Elderly (CFDA –
65.010) for the year ended September 30, 2013.
Unmodified Opinion on Each of the Other Major Federal Programs
In our opinion, the County complied, in all material respects, with the types of compliance requirements
referred to above that could have a direct and material effect on each of its other major federal
programs and state projects identified in the summary of auditors’ results section of the accompanying
schedule of findings and questioned costs for the year ended September 30, 2013.
Other Matters
The County’s responses to the noncompliance findings identified in our audit are described in the
accompanying schedule of findings and questioned costs. The County’s responses were not subjected
to the auditing procedures applied in the audit of compliance and, accordingly, we express no opinion
on the responses.
Report on Internal Control Over Compliance
Management of the County is responsible for establishing and maintaining effective internal control
over compliance with the types of compliance requirements referred to above. In planning and
performing our audit of compliance, we considered the County’s internal control over compliance with
the types of requirements that could have a direct and material effect on each major federal program
and state project to determine the auditing procedures that are appropriate in the circumstances for the
purpose of expressing an opinion on compliance for each major federal program and state project and
to test and report on internal control over compliance in accordance with OMB Circular A-133 and
Chapter 10.550, Rules of the Auditor General, 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 material weaknesses or significant deficiencies and therefore, material
weaknesses or significant deficiencies may exist that were not identified. However, as discussed below,
we identified certain deficiencies in internal control over compliance that we consider to be material
weaknesses.
J-4
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance
requirement of a federal program or state program 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 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 2013-01 and 2013-02 to be material
weaknesses.
A significant deficiency in internal control over compliance is a deficiency, or a combination of
deficiencies, in internal control over compliance with a type of compliance requirement of a federal
program that is less severe than a material weakness in internal control over compliance, yet important
enough to merit attention by those charged with governance.
The County’s response to the internal control over compliance findings identified in our audit are
described in the accompanying schedule of findings and questioned costs. The County’s response was
not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we
express no opinion on the response.
The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the result of that testing based on the requirements of
OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General. Accordingly, this report is not
suitable for any other purpose.
Lakeland, Florida
March 26, 2014
J-5
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
AND STATE FINANCIAL ASSISTANCE
Agency/Program
CFDA/
CSFA
Number
Grant
Identification
Expenditures
Federal Awards
Executive Office of the President
Office of the National Drug Control Policy
High Intensity Drug Trafficking Area-HIDTA
High Intensity Drug Trafficking Area-HIDTA
95.001
95.001
G12CF0005A
G13CF0005A
Total Executive Office of the President
Office of the National Drug Control Policy
Corporation for National and Community Service
RSVP Grant, effective 09/30/10
RSVP Grant, effective 07/30/13
94.002
94.002
10SRSFL008
13SRSFL007
$
131,037
144,631
$
275,668
$
61,880
21,855
$
83,735
Total Corporation for National and Community Services
Department of Agriculture
Child Nutrition Cluster
Passed through Florida Department of Agriculture &
Consumer Services:
School Breakfast Program
National School Lunch Program
10.553
Agreement #01-0317
$
31,116
10.555
Agreement #01-0317
$
53,413
$
84,529
$
44,397
$
128,926
$
93,074
253,931
$
347,005
$
148,164
487,187
182,328
541,756
$
1,359,435
Total Child Nutrition Cluster
Passed through Florida Department of Elder Affairs:
Adult Care Food Program
10.558
Y3128
Total Department of Agriculture
Department of Health and Human Services
Aging Cluster
Passed through Florida Department of Elder Affairs
and the West Central Florida Area Agency on Aging, Inc.:
OAA Title III-B, 01/01/12-12/31/12
OAA Title III-B, 01/01/13-12/31/13
93.044
93.044
OAA-2012-POLK
OAA-2013-POLK
Total Program
OAA Title IIIC-1, 01/01/12-12/31/12
OAA Title IIIC-1, 01/01/13-12/31/13
OAA Title IIIC-2, 01/01/12-12/31/12
OAA Title IIIC-2, 01/01/13-12/31/13
93.045
93.045
93.045
93.045
Total Program
J-6
OAA-2012-POLK
OAA-2013-POLK
OAA-2012-POLK
OAA-2013-POLK
Transfers to
Subrecipients
AND STATE FINANCIAL ASSISTANCE (CONTINUED)
Agency/Program
Nutrition Services Incentive Program
Nutrition Services Incentive Program
CFDA/
CSFA
Number
NSIP-11/12-POLK
NSIP-12/13-POLK
Expenditures
$
18,023
110,067
Total Program
$
128,090
Total Aging Cluster
$
1,834,530
$
34,757
102,222
$
136,979
$
623,060
192,033
$
815,093
$
72,448
657,971
$
730,419
$
67,718
74,366
$
142,084
$
25,690
7,917
$
33,607
OAA Title IIIE, 01/01/12-12/31/12
OAA Title IIIE, 01/01/13-12/31/13
93.053
93.053
Grant
Identification
93.052
93.052
OAA-2012-POLK
OAA-2013-POLK
Total Program
Temporary Assistance for Needy Families,
Passed through the Ounce of Prevention Fund
of Florida and Healthy Families:
Ounce of Prevention, 07/01/12-06/30/13
93.558
93.558
HF-12-13-5
HF-13-14-5
Total Program
Passed through the Florida Department of Revenue:
Service of Process, 07/01/11-06/30/14
Title IV-D Child Support Grant, 09/01/08-08/31/13
93.563
93.563
CSS53
CD353
Total Program
Emergency Home Energy Assistance, FY 12/13
Emergency Home Energy Assistance, FY 13/14
93.568
93.568
EH-12/13-POLK
EH-13/14-POLK
Total Program
Community-Based Family Resource and Support Grants,
Passed through the Ounce of Prevention Fund
of Florida and Healthy Families:
93.590
93.590
Total Program
J-7
HF-12-13-5
HF-13-14-5
Transfers to
Subrecipients
Agency/Program
Passed through the Department of State:
Voting Access for Individuals with Disabilities
CFDA/
CSFA
Number
93.617
93.617
93.617
Grant
Identification
MOA #2010-2011-0002
MOA #2011-2012-0002
MOA #2012-2013-0003
Total Program
Passed through the Department of Children
and Families:
Substance Abuse Intervention
Expenditures
$
-
$
-
93.667
TDL07
$
677
93.958
TDL07
$
1,130
93.959
TDL07
$
22,823
93.959
QA038
Passed through Central Florida Behavioral Health Network, Inc:
Block Grants for Community Mental Health Services
Total Program
Passed through Commission for Transportation Disadvantaged:
Medicaid Non-Emergency Transportation (NET)
93.778
BDM92
Total Department of Health and Human Services
Department of Homeland Security
Passed through United Way of Central Florida:
Fema Phase XIX Program, 01/01/13-12/31/13
21,623
$
44,446
$
2,060,868
$
5,799,833
97.024
LRO #170200-008
$
10,000
FEMA-1539-DR-FL
97.036
05-PA-C%-07-63-01-673
$
-
FEMA-1545-DR-FL
97.036
05-PA-G%-07-63-01-582
-
FEMA-1561-DR-FL
97.036
05-PA-E=-07-63-01-828
-
FEMA-1609-DR-FL
97.036
06-WL-&K-07-63-01-817
-
FEMA-3288-EM (TS Fay)
97.036
09-PA-C2-07-63-13-555
-
Passed through State Department of
Community Affairs:
Total Program
Community Affairs:
Emergency Mgmt Performance Grant, FY 12/13
Emergency Mgmt Performance Grant, FY 13/14
State Homeland Security Grant Program, FY 2012
CERT EO Number: 58
State Homeland Security Grant Program, FY 2012
EMPG, Citizens Corps Council, EO Number: 58
$
-
$
75,193
52,861
97.042
97.042
13-FG-86-07-63-01-120
14-FG-1M-07-63-01-120
97.042
13-CI-58-07-63-01-420
7,496
97.042
13-CC-58-07-63-01-421
8,925
Total Program
$
J-8
144,475
Transfers to
Subrecipients
Agency/Program
Community Affairs:
State Homeland Security Grant Program-Issue 7
State Homeland Security Grant Program
State Homeland Security Grant Program,
CERT 2010, Issue 44
State Homeland Security Grant Program,
Citizens Corps Council, Issue 44
State Homeland Security Grant Program 2012
Financial Services:
State Homeland Security Grant Program-Issue 9 & 13
State Homeland Security Grant Program
CFDA/
CSFA
Number
Grant
Identification
Expenditures
97.067
97.067
10-DS-39-06-45-01-356
11-DS-9Z-06-45-01-367
97.067
11-CI-A6-07-63-01-379
1,110
97.067
97.067
97.067
97.067
11-CC-A6-07-63-01-415
12-DS-20-07-63-01-495
13-DS-97-07-63-01-446
13-DS-97-13-00-16-409
2,213
10,750
-
97.067
97.067
11-DS-9Z-13-00-16-436
12-DS-20-13-00-16-
31,421
18,010
$
22,407
65,269
Total Program
$
151,180
Total Department of Homeland Security
$
305,655
Department of Housing and Urban Development
Direct Programs:
Rental Rehabilitation Program, eff. 06/24/91
Direct Programs:
Community Development Block Grant
Community Development Block Grant
Neighborhood Stabilization Program (NSP)
Housing and Economic Recovery Act of 2008 (HERA)
Neighborhood Stabilization Program (NSP1) Revolving Fund
Neighborhood Stabilization Program (NSP3)
Neighborhood Stabilization Program (NSP3) Revolving Fund
14.182
R-91-UC-12-0212
$
14.218
14.218
B-11-UC-12-0007
B-12-UC-12-0007
$
14.218
14.218
14.218
14.218
B-08-UN-12-0016
B-08-UN-12-0016
B-11-UN-12-0016
B-11-UN-12-0016
Total Program
Direct Programs:
Emergency Solutions Grant
Emergency Solutions Grant
14.231
14.231
E-11-UC-12-0019
E-12-UC-12-0019
Total Program
Direct Programs:
Home Investment and Affordable Housing
14.239
14.239
14.239
14.239
Total Program
J-9
M-09-UC-12-0218
M-10-UC-12-0218
M-11-UC-12-0218
M-12-UC-12-0218
Transfers to
Subrecipients
-
1,430,202
1,108,777
$
638,183
655,337
2,913,911
535,902
3,528,809
$
9,517,601
$ 1,293,520
$
73,196
167,607
$
73,196
155,848
$
240,803
$
229,044
$
42,016
249,807
835,778
164,908
$
1,292,509
Agency/Program
Direct Programs:
EDI-Special Project/Polk County Agricultural Center
EDI-Special Project/Agricultural Center renovation
CFDA/
CSFA
Number
14.251
14.251
Grant
Identification
B-09-SP-FL-0370
B-10-SP-FL-0294
Total Program
Direct Programs:
Housing Assistance Payments
14.871
FL143VO
Total Department of Housing and Urban Development
Department of Justice
Passed through the Office of Juvenile Justice &
Delinquency Prevention:
Central Florida Regional ICAC Task Force
Central Florida Regional ICAC Task Force
16.540
16.540
2010-MC-CX-K028
2013-MC-CX-K010
Total Program
Expenditures
$
-
$
-
$
627,084
$
11,677,997
$
235,235
-
$
235,235
Passed through the Office of Juvenile Justice &
Delinquency Prevention:
Polk County Gang Prevention Initiative
16.541
2010-JL-FX-0587
$
80,163
Passed through the Florida Office of the
Attorney General:
Victims of Crime Act
16.575
V12080
$
107,327
Passed through Florida Coalition Against Domestic
Violence:
Stop Violence Against Women Formula Grant
STOP Domestic Violence 07/01/12-06/30/13
STOP Domestic Violence 07/01/13-06/30/14
16.588
16.588
13-8022-LE
14-8022-LE
$
118,132
38,509
$
156,641
$
32,052
Total Program
Direct Programs:
Bureau of Justice Assistance Grant, SCAAP
State Criminal Alien Assistance Program
16.606
J-10
2012-AP-BX-0320
Transfers to
Subrecipients
$ 1,522,564
Agency/Program
Direct Programs:
Bulletproof Vest Partnership Grant 2011
Bulletproof Vest Partnership Grant 2012
CFDA/
CSFA
Number
16.607
16.607
Grant
Identification
2011-BO-BX-11057266
2012-BO-BX-12062971
Total Program
Direct Programs:
COPS Methamphetamines, 3/11/2009-9/30/2013
COPS Methamphetamines, 12/16/09-12/15/2013
COPS Hiring Program; 06/01/2012-05/31/2015
ARRA - Recovery'09-COPS Hiring Recovery Program
16.710
16.710
16.710
16.710
2009-CK-WX-0173
2010-CK-WX-0382
2012-UL-WX-0010
2009-RJ-WX-0034
Total Program
Expenditures
$
4,190
216
$
4,406
$
39,790
71,955
305,930
1,316,551
$
1,734,226
JAG Program Cluster
Direct Programs:
Bureau of Justice Assistance Grant 10/01/2011-09/30/2015
Bureau of Justice Assistance Grant 10/01/2012-09/30/2016
Passed through the Department of Law Enforcement:
Byrne State & Local Law Enforcement
South County Jail Substance Abuse Treatment,
7/1/12-6/30/13
Polk County Wireless Fingerprint Scanners Phase II
Polk County Post Adjudication Drug Court/MM
10th Judicial Circuit
16.738
16.738
2012-DJ-BX-0121
2013-DJ-BX-0126
$
98,147
138
16.738
16.738
2013-JAGC-POLK-17-B2-269
2013-JAGC-POLK-8-D7-036
$
67,000
33,779
16.738
2013-JAGC-POLK-15-D7-101
Total Program
Passed through Office of the State Courts Administrator:
ARRA - Edward Byrne Memorial Justice Assistance
Grant (Adult Post-Adjudicatory Drug Court)
16.803
Total JAG Program Cluster
J-11
Grant-In-Aid Agreement
19,011
$
218,075
$
349,718
$
567,793
Transfers to
Subrecipients
Agency/Program
CFDA/
CSFA
Number
Grant
Identification
Expenditures
Direct Programs:
ARRA - Recovery'09-Internet Crimes Against Children
16.800
2009-SN-B9-K040
$
90,470
Direct Programs:
ARRA - Recovery'09-Sheriff Service Officers
16.808
2009-SC-B9-0064
$
302,316
Direct Programs:
Asset Forfeiture Program, Equitable Sharing
16.922
15-5042-0-2-752
$
17,348
Group One
415-TP-C46829-OR
245C-TP-2682937
Inmate
JLEO-13-0279
$
$
$
$
$
4,732
7,090
10,124
6,500
5,250
$
3,361,673
$
445,365
-
Direct Programs:
Drug Enforcement Administration
Federal Bureau of Investigation-Joint Terrorism Task Force
Federal Bureau of Investigation-Safe Streets Task Force
United States Marshals Service-Inmate
United States Marshals Service- Fugitive Apprehension
Strike Force
16.Unknown
16.Unknown
16.Unknown
16.Unknown
16.Unknown
Total Department of Justice
Department of Transportation
Highway Planning and Construction Cluster
Passed through Florida Department of Transportation:
Metropolitan Planning Program, eff. 07/01/12
Metropolitan Planning Program, eff. 07/01/13
LAP Agreement-Resurface Clubhouse Road
(CR540) from Tillery Rd to 9th Street
20.205
20.205
A5078, PL-0262(49)
A5078, PL-0262(48)
20.205
AQU55, FPN 429880-1-58-01
Total Program
513,923
$
959,288
$
89,162
$
1,048,450
$
608,559
150,043
$
758,602
$
75,938
1,179,787
-
Total Program
$
1,255,725
Total Federal Transit Cluster
$
2,014,327
Passed through Florida Department of Environmental
Protection:
Recreational Trails Program
20.219
T1125
Total Highway Planning and Construction Cluster
Federal Transit Cluster
FTA Sctn 5309, Veterans Transportation and
Community Livability Initiative
Trans FTA Sctn 5309 Cap, FY 11/12 (W.H.A.T.)
20.500
20.500
FL-04-0154-00
FL-04-0140-00
Total Program
ARRA - FTA Section 5307 Capital , FY 2009
Trans Sctn 5307 Operating, FY 10/11
Trans Sctn 5307 Operating, FY 11/12
20.507
20.507
20.507
J-12
FL-96-X005-00
FL-90-X686-01
FL-90-X686-02
Transfers to
Subrecipients
Agency/Program
FTA Section 5303 Grant, 01/01/08-12/31/12
CFDA/
CSFA
Number
20.505
20.505
Grant
Identification
AOV76
AQR05
$
69,727
12,388
$
82,115
AQR07, 410128-1-84 &
410128-1-84-31
$
1,313,915
Total Program
Trans Sctn 5311 Oper., FY 12/13
20.509
Expenditures
Transit Services Programs Cluster
Trans FTA Sctn 5310 Cap, FY 12/13
20.513
FL-16-0037
$
Trans Sctn 5316, Job Access Reverse Commute
20.516
20.516
20.516
AQ381, FP 428349-1-84-01
AQ379, FP 428352-1-84-01
AQ376, FP 428388-1-84-01
$
308,047
147,309
199,605
$
654,961
$
74,708
Total Transit Services Programs Cluster
$
729,669
Total Department of Transportation
$
5,188,476
Total Program
Trans Sctn 5317, New Freedom Program
Department of Treasury
Internal Revenue Service - Criminal Investigation
Passed through United States Secret Service:
FIST/Financial Investigative Strike Team
Passed through Department of Homeland Security:
Homeland Security Investigations (ICE)
20.521
AQ407, FP 428348-84-01
-
21.Unknown
ID Task Force #213592289
$
7,069
21.Unknown
MOU
$
9,710
21.Unknown
Operation Fly Trap
$
28,578
$
45,357
Total Department of Treasury
J-13
Transfers to
Subrecipients
Agency/Program
CFDA/
CSFA
Number
Grant
Identification
Expenditures
Transfers to
Subrecipients
Elections Assistance Commission
Passed through Florida Department of State:
Voting Systems Assistance Grant
90.401
Specific Approp. 2871I, 2004-2005
Poll Workers Recruitment and Training
90.401
Specific Approp. 2939, 2005-2006
Poll Workers Recruitment and Training
90.401
Appropriation 3175, 2006-2007
27,394
Federal Elections Activities 2007-2008
90.401
46,368
90.401
-
90.401
-
90.401
-
90.401
-
90.401
-
Total Elections Assistance Commission
$
4,627
$
78,389
Environmental Protection Agency
Passed through Florida Department of Environmental
Protection:
Elizabeth Place Hydrological Enhancement Program
66.460
G0316
$
5,174
Fish and Wildlife Service
Passed through Florida Fish and Wildlife Conservation
Commission:
Polk County HCP Contract
15.625
FWC #11237
$
48,138
Small Business Administration
Passed through University of South Florida:
Small Business Development Center
59.037
1424-1054-00-C
$
57,939
$
27,056,960
Total Expenditures of Federal Awards
State Financial Assistance
Department of Agriculture and Consumer Services
State Mosquito Control Program, eff. 10/01/12
42.003
FDACS 18805
$
18,500
Department of Children and Families
Substance Abuse Intervention (Children)
60.030
TDL07
$
62,823
Substance Abuse Intervention (Adults)
60.033
TDL07
$
12,203
Substance Abuse Intervention (Adults)
60.053
TDL07
$
13,333
$
88,359
Total Department of Children and Families
J-14
$ 1,522,564
Agency/Program
Department of Community Affairs
EMPA Grant, FY 12/13
EMPA Grant, FY 13/14
CFDA/
CSFA
Number
31.063
31.063
Grant
Identification
13-BG-83-07-63-01-053
14-BG-83-07-63-01-053
Total Program
Expenditures
$
102,529
19,654
$
122,183
Hazardous Materials Plan, FY 12/13
31.067
13-CP-11-07-63-01-211
$
-
52.023
52.023
52.023
52.023
09CP-04-07-63-01-183
10-CP-04-07-63-01-168
11-CP-03-07-63-01-222
12-CP-03-07-63-01-212
$
469
12,869
14,969
6,975
$
35,282
$
-
Total Program
FEMA-1539-DR-FL
FEMA-1545-DR-FL
FEMA-1561-DR-FL
FEMA-1609-DR-FL
FEMA-3288-EM (TS Fay)
------
05-PA-C%-07-63-01-673
05-PA-G%-07-63-01-582
05-PA-E=-07-63-01-828
06-WL-&K-07-63-01-817
09-PA-C2-07-63-13-555
Total Department of Community Affairs
$
157,465
$
205,862
$
51,949
5,186
$
57,135
$
170,782
32,056
$
202,838
$
1,160,297
348,923
Total Program
$
1,509,220
Total Department of Elder Affairs
$
1,769,193
Department of Economic Opportunity
EDTF Agreement
Department of Elder Affairs
Passed through the West Central Florida Area
Agency on Aging, Inc.:
Home Care for the Elderly, eff. 07/01/12
Home Care for the Elderly, eff. 07/01/13
55.032
AQW22, FM 432497-1-58-01,
Project 11-00586
65.001
65.001
HCE-12/13-POLK
HCE-13/14-POLK
Total Program
Alzheimer's Disease Initiative, eff. 07/01/12
Alzheimer's Disease Initiative, eff. 07/01/13
65.004
65.004
ADI-12/13-POLK
ADI-13/14-POLK
Total Program
Community Care for the Elderly, eff. 07/01/12
Community Care for the Elderly, eff. 07/01/13
65.010
65.010
J-15
CCE-12/13-POLK
CCE-13/14-POLK
Transfers to
Subrecipients
Agency/Program
Department of Environmental Protection
Small Quantity Hazardous Waste Generator Program
Skyview Utilities
CFDA/
CSFA
Number
Grant
Identification
Expenditures
37.013
S0523
$
7,893
37.039
SP540
$
176,601
$
184,494
Total Department of Environmental Protection
Department of Health
Emergency Medical Services County Grant
64.005
C1053
$
376,423
Department of Legal Affairs and Attorney General
Florida Coalition Against Domestic Violence, Inc.
Attorney General InVest
41.014
14-8022-AG-INV
$
14,108
Department of State
State Aid to Libraries
State Aid to Libraries
45.030
45.030
12-ST-72
13-ST-73
$
78,187
178,985
$
257,172
$
208,081
Total Department of State
Department of Transportation
County Incentive Grant Program / Bartow Northern
Connector
County Incentive Grant Program/ SR600 @
Kinney Harmon Road
55.008
FP 422601-1-58-01
55.008
432294-1-C8/58/68-01 &
432294-1-58-02
Total Program
FDOT Block Grant, FY 11/12
FDOT Block Grant, FY 12/13
55.010
55.010
AOW07, 410143-1-84-01
AQQ78, 410143-1-84-01
Total Program
$
208,081
$
886,733
$
886,733
State Transit Service Development Program
55.012
AQQ96, 432839-1-94-01
$
-
Congestion Management Program
State Congestion Management Program
55.023
55.023
55.023
55.023
55.023
55.023
55.023
55.023
APF80, FM 426026-1-58-01
AQW60, FPN 429986-1-58-01
AQW61, FPN 429988-1-58-01
AQW62, FPN 429989-1-58-01
AQW63, FPN 429990-1-58-01
AQW64, FPN 429991-1-58-01
AQW65, FPN 429992-1-58-01
AQW66, FPN 429993-1-58-01
$
-
$
-
Total Program
Transportation Regional Incentive Program/
Bartow Northern Connector
55.026
J-16
FP 422601-1-58-01
$
3,212,377
Transfers to
Subrecipients
Agency/Program
CFDA/
CSFA
Number
Joint Participation Agreement, US 27 @ Deer Creek
Boulevard/ Heller Brothers
Grant
Identification
---
AOV76
AQR05
--
AR461, FM 433854-1-38-01
Total Department of Transportation
Expenditures
$
Transfers to
Subrecipients
20,373
3,524
-
$
4,331,088
$
828,523
Florida Commission for the Transportation Disadvantaged
Trip/Equipment Grant, FY 12/13
55.001
Trip/Equipment Grant, FY 13/14
55.001
AQP34,FM
43202718401/43202818401
AR208, FM
43202718401/43202818401
Total Program
Trans Disadvantaged Planning Grant,
07/01/12-06/30/13
Trans Disadvantaged Planning Grant,
07/01/13-06/30/14
55.002
AQP49, FM 19363011401
55.002
AR278, FM 43202911401
166,223
$
994,746
$
22,499
7,393
Total Program
$
29,892
Total Florida Commission for the Transportation Disadvantaged
$
1,024,638
$
338,109
90,993
3,645
Total Florida Housing Finance Agency
$
432,747
Total Expenditures of State Financial Assistance
$
8,860,049
Total Expenditures of Federal Awards and State Financial Assistance
$
35,917,009
Florida Housing Finance Agency
State Housing Initiative Partnership Program
52.901
52.901
52.901
J-17
FY 11/12
FY 12/13
FY 13/14
$
-
$ 1,522,564
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
AND STATE FINANCIAL ASSISTANCE
NOTE 1
GENERAL
The accompanying Schedule of Expenditures of Federal Awards and State Financial
Assistance presents the activity of all federal awards and state financial assistance
programs of Polk County, Florida (the County). The County reporting entity is defined in
Note 1 to the County's basic financial statements for the year ended September 30, 2013.
All federal awards and state financial assistance received directly from federal and state
agencies as well as federal awards and state financial assistance passed through other
government agencies are included in the schedule.
NOTE 2
BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards and State Financial
Assistance is presented using the modified accrual basis of accounting, which is described
in Note 1 to the County's basic financial statements for the year ended September 30, 2013.
J-18
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
SECTION I – SUMMARY OF AUDITOR’S RESULTS
Financial Statement Section
The type of report issued on the financial statements:
Unmodified
Internal control over financial reporting:
Material weaknesses identified
No
Significant deficiencies identified that are not considered
to be material weaknesses
None reported
Noncompliance material to the financial statements noted:
No
Federal Awards Section
Internal control over major programs:
Yes
None reported
Type of auditor’s report to be issued on compliance for major programs:
Qualified
Any audit findings which are required to be reported under
Section 510(a) of OMB Circular A-133:
Yes
Identification of Major Federal Programs:
CFDA Number
14.218
14.871
20.509
20.513/20.516/20.521
93.778
16.738/16.803
Name of Federal Program or Cluster
Community Development Block Grants/Entitlement Grants
Section 8 Housing Choice Vouchers
Transit Formula Grants Section 5311
Transit Services Programs Cluster
Medical Non-Emergency Transportation
Edward Bryne Memorial Justice Assistance Grant Program Cluster
Dollar threshold used to determine Type A programs:
Auditee qualified as a low-risk auditee:
$
811,709
No
J-19
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED)
SECTION I – SUMMARY OF AUDITOR’S RESULTS (CONTINUED)
State Financial Assistance Section
Internal control over major state projects:
No
Type of auditor’s report to be issued on compliance for major state projects:
None reported
Unmodified
Identification of major state projects:
CFSA Number
31.063
52.901
55.026
65.010
Name of State Project
Emergency Medical Services County Grant
State Housing Initiatives Partnership Program
Transportation Regional Incentive Program (TRIP)
Community Care for the Elderly
Dollar threshold used to determine Type A projects:
J-20
$
300,000
SECTION II – FINANCIAL STATEMENT FINDINGS
No findings
SECTION III – FINDINGS AND QUESTIONED COSTS – MAJOR FEDERAL PROGRAMS
AND STATE PROJECTS
2013-01 – SCHEDULE OF FEDERAL EXPENDITURE AND STATE FINANCIAL ASSISTANCE
PREPARATION
Federal Agency: Department of Transportation
Program: Medical Assistance Program (CFDA# 93.778)
Compliance Requirement: Reporting
Type of Finding: Internal Control - Material Weaknesses, Noncompliance
Condition
During our completeness procedures on the Schedule of Expenditures of Federal Awards and State
Financial Assistance, we noted that a federal grant had been omitted from the schedule.
Criteria
The County has a responsibility to ensure compliance with all requirements of federal and state grants
awarded. In addition, both OMB Circular A-133 and the Florida Single Audit Act require management
to prepare a complete and accurate Schedule of Expenditures of Federal Awards and State Financial
Assistance.
Context
The grant omitted from the schedule pertains to CFDA 93.778 Medical Assistance Program which
incurred $2,060,868 of federal grant expenditures during this fiscal year.
Effect
The design of the controls over the grants reporting process (including the preparation of the Schedule
of Expenditures of Federal Awards and State Financial Assistance) affects the County's ability to report
their financial data consistent with the assertions of management.
Questioned Costs
None
Cause
The multi-year master agreement relating to this grant included the CFDA information. However, only
the annual amendments were being carried forward yearly in the grant file which caused management
to miss the grant during the preparation of the Schedule of Expenditures of Federal Awards and State
Financial Assistance.
Recommendation
We recommend that relevant grant information be carried forward and reviewed annually as part of the
Schedule of Expenditures of Federal Awards and State Financial Assistance reporting process.
J-21
2013-01 – SCHEDULE OF FEDERAL EXPENDITURE AND STATE FINANCE ASSISTANCE
PREPARATION (CONTINUED)
Corrective Action Plan
Explanation of Disagreement with Audit Finding:
There is no disagreement with this finding
Actions Planned in Response to Finding:
This grant has been appropriately included in the Schedule of Expenditures of Federal Awards and
State Financial Assistance for fiscal year ended September 30, 2013.
Official Responsible for Ensuring Corrective Action Plan:
The Fiscal Manager for Social Services has incorporated this CFDA number and that of all other grant
funds into year end reporting.
Planned Completion Date for Corrective Action Plan:
This finding has been addressed. All grant information will be reviewed annually for requirements
necessary to complete the Schedule of Expenditures of Federal Awards and State Financial Assistance
reporting process.
Plan to Monitor Completion of the Corrective Action Plan:
Fiscal Manager for Social Services will review all grants annually for requirements necessary to assist
with the Schedule of Expenditures of Federal Awards and State Financial Assistance reporting process.
J-22
2013-02 – TIME AND EFFORT DOCUMENTATION
Federal Agency: Department of Transportation
Program: Transit Formula Grants Program (CFDA#20.509),
(CFDA#93.778), Community Care for the Elderly (CFDA#65.010).
Compliance Requirement: Allowable Costs
Type of Finding: Material Weaknesses, Noncompliance
Medical
Assistance
Program
Condition
During our testing we noted that time and effort support for allocation of administrative staff is not being
maintained.
Criteria
Circular A-87 states that employees that work on multiple activities or cost objectives, a distribution of
their salaries or wages should be supported by personnel activity reports or equivalent documentation.
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,
provided that, at least quarterly comparisons of actual costs to budgeted distributions based on the
monthly activity reports are made. Costs charged to Federal awards to reflect adjustments made as a
result of the activity actually performed may be recorded annually if the quarterly comparisons show the
differences between budgeted and actual costs are less than ten percent and that budget estimates or
other distribution percentages are revised at least quarterly, if necessary, to reflect changed
circumstances.
Context
The grant omitted from the schedule pertains to CFDA 93.778 Medical Assistance Program which CLA
tested a sample 40 timesheets for CFDA 20.509, 40 for CFDA 93.778. For these programs no time and
effort documentation was maintained. For program 65.010, 40 timesheets were tested; we noted 19
exceptions, which were administrative staff.
Cause
Currently, payroll allocation for administrative staff is based on budget estimates and adjustments to
general ledger to actual are not being done.
Effect
The potential exists that personnel expenditures could be misallocated to Federal programs or State
projects.
Questioned Costs
None
Recommendation
Although a government can use budget estimates for interim accounting, we recommend that at least
quarterly comparisons of actual costs to budgeted distributions based on the monthly activity reports
are made. Costs charged to Federal awards and State projects to reflect adjustments made as a result
of the activity actually performed may be recorded annually if the quarterly comparisons show the
differences between budgeted and actual costs are less than ten percent.
J-23
2013-02 – TIME AND EFFORT DOCUMENTATION (CONTINUED)
Corrective Action Plan
Explanation of Disagreement with Audit Finding:
There is no disagreement with this finding.
Actions Planned in Response to Finding:
For each individual program area, timesheets will be maintained by all staff members which will
document actual time among the funding sources. These timesheets will be kept concurrently with
each pay period. A quarterly comparison of these charges will be made to the budgeted estimates, and
a revision made, if necessary, to the distribution percentages, to reflect changed circumstances.
Official Responsible for Ensuring Corrective Action Plan:
Accountant for Elderly Services
Accountant for Transit Services
Planned Completion Date for Corrective Action Plan:
Management has implemented a process to remedy this finding.
Plan to Monitor Completion of the Corrective Action Plan:
The Fiscal Manager for Social Services will review all comparisons to budget quarterly and provide
required changes to the Program Manager for Elderly Services and to the Program Manager for Transit
Services.
J-24
SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
SECTION IV – SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
2012-01 –TENANT ELIGIBILITY
United States Department of Housing and Urban Development
Section 8 Housing Choice Vouchers Program (CFDA 14.871) 2012
Condition
During our testing of Section 8 tenant files, we noted certain eligibility compliance deficiencies. The
errors noted during our testing are summarized below:
Number of
instances
3
2
1
Finding
Third party documentation did not adequately support the determination of
income and deductions, and as a result, the calculation of the tenant’s rent was
incorrect.
Third party documentation was missing from the tenant file to support the value
of assets listed.
Privacy notice was not signed by an adult in the household.
Recommendation
Management should implement appropriate procedures to ensure that eligibility requirements are met.
Current Year Status
This finding has been corrected. No similar findings were noted in the current year audit.
2012-02 – PROGRAM TENANT FILES
Condition
During our testing of Section 8 tenant files, we noted certain special provision compliance deficiencies.
The errors noted during our testing are summarized below:
Number of
instances
2
2
Finding
Housing Quality Standards inspection was not adequately documented.
An incorrect utility allowance used in the calculation of tenant’s rent.
Recommendation
The County should implement appropriate procedures to ensure that special provision requirements
are met.
Current Year Status
J-25
2012-03 – UTILITY ALLOWANCE STUDY
Condition
During our testing, we noted the County reviewed utility rate data within the last 12 months; however,
the data did not support the County’s adjustment to its utility allowance schedule.
Recommendation
The County should implement appropriate procedures to ensure that the correct utility rates are used.
Current Year Status
2012-04 – UNTIMELY REPORTS
Department of Justice
Edward Byrne Memorial Justice Assistance Grant (CFDA 16.738) 2012
Condition
During our testing we noted reports required by the grant agreement which were not submitted timely.
Recommendation
The County should implement appropriate procedures to ensure that all reports are submitted timely as
outlined in the grant agreement.
Current Year Status
2012-05 – CASH MANAGEMENT
Community Development Block Grant (CFDA 14.218) 2012
Condition
During our testing of reimbursement requests, we were unable to trace the supporting documentation
showing that costs for which reimbursement was requested. Furthermore, it was not possible to
determine if costs related to the reimbursement were incurred before the date of the draw request.
Recommendation
The County should implement appropriate procedures to ensure that all documentation is maintained to
support each reimbursement request.
Current Year Status
J-26
2012-06 – REPORTING
Community Development Block Grant (CFDA 14.218) 2012
Condition
During our testing, we noted a lack of supporting documentation for the underlying data contained in
reports submitted to the grantor.
Recommendation
The County should implement appropriate procedures to ensure that all documentation is maintained to
support each report submitted.
Current Year Status
J-27

POLK COUNTY FLORIDA - Polk County Clerk of Courts

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