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Comprehensive Annual Financial Report For the Fiscal Year Ended

September 30, 2015

Pasco County, Florida

Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments.

Excellence…Always

The Financial Reporting Entity, Determining Whether Certain Organizations Are Component

Units, The Financial Reporting Entity: Omnibus.

Certificate of

Presented to

Pasco County

For its Comprehensive Annual

September 30, 2014

Executive Director/CEO

Financial Reportfor the Fiscal Year Ended

Reportingin Financial

for ExcellenceAchievement

Text38: Florida

Government Finance Officers Association

A-

KPMG LLPSuite 1700100 North Tampa StreetTampa, FL 33602-5145

KPMG LLP is a Delaware limited liability partnership, the U.S. member firm of KPMG International Cooperative (“KPMG International”), a Swiss entity.

B-1

Independent Auditors’ Report

Distinguished Members of the Board of County Commissioners Pasco County, Florida:

We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of Pasco County, Florida (the County), as of and for the year ended September 30, 2015,and the related notes to the financial statements, which collectively comprise the County’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with U.S. generally accepted accounting principles; 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 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 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, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of Pasco County, Florida, as of September 30, 2015, and the respective changes in financial position and, where applicable,

B-2

cash flows thereof, and the general fund budgetary comparison for the year then ended in accordance with U.S. generally accepted accounting principles.

Emphasis of Matter

As discuss in note 21 to the financial statements, the County adopted the provisions of Governmental Accounting Standards Board Statements No. 68, Accounting and Financial Reporting for Pensions and No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date.

Other Matters

Required Supplementary Information

U.S. generally accepted accounting principles require that the management’s discussion and analysis,schedule of funding progress – other postemployment benefits, schedule of employer contributions – other postemployment benefits, schedules of the County’s proportionate share of the net pension liability and related ratios, and contribution requirements for the Florida Retirement System Pension Plan and Florida Retirement System Retiree Health Insurance Subsidy Program on pages C-1 through C-14 and F-1 through F-6, respectively 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.

Supplementary and Other Information

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise Pasco County, Florida’s basic financial statements. The combining and individual nonmajor fund financial statements and schedules, the introductory and statistical sections, and the schedule of receipts, disbursement and balances in compliance with Section 714(3) of the indenture of trust are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The combining and individual nonmajor fund financial statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

The introductory and statistical sections and the schedule of receipts, disbursement and balances in compliance with Section 714(3) of the indenture of trust 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 them.

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Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated July 29, 2016 onour consideration of Pasco County, Florida’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 Pasco County, Florida’s internal control over financial reporting and compliance.

July 29, 2016 Certified Public Accountants

Basic Financial Statements Basic Financial Statements

primary government

Summary of Significant Accounting Policies, Reporting Entity, Notes to Financial Statements

from to

activities Statement of Net Position Statement of Activities

funds )balance sheet – governmental funds statement of revenues,

expenditures, and changes in fund balances – governmental funds, the Basic Financial Statements

.governmental activities

Combining and Individual Fund Statements and Schedules

Basic Financial Statements. Combining and Individual Fund Statements and Schedules

Statement of Fiduciary Net Position – Agency Funds Basic Financial Statements



Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments (GASBS No. 34)

Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments

primary government

The Financial Reporting Entity Determining Whether Certain Organizations are Component Units (an amendment of GASB Statement No. 14) The Financial Reporting Entity: Omnibus.

and

Accounting and Financial Reporting for Certain Investments and for External Investment Pools

Assets YearsBuildings 20 50Improvements Other than Buildings 10 40Machinery and Equipment 3 10Infrastructure 35 40Intangibles:

Computer Software 3 5Easements and Rights of Ways See (1)

Fund Balance Reporting and Governmental Fund Type Definitions

Accounting and Financial Reporting for Pensions, Pension Transition for Contributions Made Subsequent to the Measurement Date-an amendment of GASB Statement No. 68 e

Fair Value Measurement and Application

Accounting and Financial Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68

The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments

The Hierarchy of Generally Accepted Accounting Principles for State and Local Governments. Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements, paragraphs 64, 74, and 82.

Total Total FundRevenue Expenditures Balance

Budgetary Basis 208,590,225$ 208,509,035$ 56,780,562$

Non Budgeted ActivityOffice of State Courts Admin. 280 3,256Rural Economic and Dev. Admin. 63,024 63,024 21,086Park Development Fund 121 16,769 22,030Education Fund 13,726Environmental Lands Mgmt. 16,171 55,279 2,921,226S.H.I.P. 2,278,548 2,278,548 669,301

GAAP Basis 210,948,369$ 210,922,655$ 60,431,187$

PortfolioMaturity Fair Value Percentage Rating (1)

Petty Cash N/A 48,338$ N/ACash in Bank N/A 57,744,523 N/ACash with Fiscal Agent N/A 19,437,130 N/A

Total Cash 77,229,991

Florida Fixed Income Trust 1 day 2,000,923 0.25% Not ratedMoney Market Fund N/A 8,429,533 1.05% N/AFlorida Prime (SBA) 29 Days 133,322,495 16.55% AAAm

(Weighted Avg. Days)Florida Trust (2) 1.53 Years (Avg.) 287,625,799 35.70% AAAfFlorida Trust Day to Day (2) 66.0 Days 269,043,166 33.39% AAAmFirst America TreasuryObligations Fund N/A 65,500,198 8.13% AAAm

SunTrust ST Leasing CorpMoney Market Fund N/A 2,712,940 0.34% Not rated

U.S. Government and Agency Bonds:Federal Home Loan Bank 10 /15 8/17 21,322,464 2.65% N/AUnited States Treasury Notes 11/15 9/17 10,809,424 1.34% N/A

Repurchase Agreement 9/30/2016 4,880,300 0.60% AAATotal CashEquivalents andInvestments 805,647,242 100.00%

Total Pooled Cash,Cash Equivalents, and

Investments 882,877,233$

Maximum Issuer LimitLocal Government Surplus Funds Trust Fund (SBA) 100% NAFlorida Prime 25% NAUnited States Government Securities:Direct Obligations of the U.S. Treasury 100% NA

United States Government Agencies:Government Nat'l Mortgage Assoc. (GNMA) 50% 25%

United State Government Instrumentalities:Federal Nat'l Mortgage Assoc. (FNMA) 20% 10%Federal Home Loan Bank or District Banks 20% 10%Federal Farm Credit Banks 20% 10%Federal Home Loan Mortgage Corp. (FHLMC) 20% 10%

Certificates of Deposit with Qualified Public Depositorie 50% 30%Non negotiable Interest Bearing Time Deposits 50% 25%Repurchase Agreements 15% 15%Commercial Paper 20% 5%Fixed Income Money Market/Mutual Funds 20% 15%Florida Local Government Investment Trust (FL TRUST)(formerly known as FLGIT) 20% 20%

Registered Investment Companies (Mutual Funds) 25% 10%Bankers Acceptance 35% 20%State and Local Taxable and Tax Exempt 20% 20%Mutual Funds Money Market 40% 25%Mortgage Back Securities 15% 10%

Accounts/ Allowance Accounts/Notes for Notes

Receivable Doubtful Receivable

72,063,832$ 62,196,106$ 9,867,726$20,309,346 4,010,410 16,298,936

5,691,278 150,000 5,541,27898,064,456 66,356,516 31,707,940

1,385,377

22,21999,472,052$ 66,356,516$ 33,115,536$

21,612,932$ $ 21,612,932$

32,562,82354,175,755$ $ 54,175,755$

Amounts

2,084,496$993,092

3,077,588

23,149,6139,397

26,236,598$

Amounts

4,897,542$11,817,708

6,434,16023,149,410

14,896,1695,256,64543,302,224$

Amounts

288,565$95,945

5,627390,137

362,022752,159$

Due From Due ToOther Funds Other Funds

18,515,224$ 4,317,204$357,533

357,53318,872,757 4,674,737

5,678,387 13,611,1356,775,151

2,5675,678,387 20,388,853

617,156 104,710

25,168,300$ 25,168,300$

Advance From Advance ToOther Funds Other Funds

1,534,000$ $

1,534,0001,534,000$ 1,534,000$

Transfers In Transfers Out

344,640$ 10,333,109$63,000

167,835575,475 10,333,109

10,810,948 8,011,4131,079,0474,336,249 365,68716,226,244 8,377,100

1,343,642564,848

1,908,49018,710,209$ 18,710,209$

Balance BalanceGovernmental September 30, September 30,Activities: 2014 Additions Deletions 2015

Capi ta l Assets ,not being depreciated:

Land 137,158,072$ 8,775,035$ (1,266,650)$ 144,666,457$Intangibles easements 5,973,542 429,720 6,403,262Construction in process 100,379,090 22,034,858 (3,237,721) 119,176,227Tota l capi ta l assetsnot being depreciated 243,510,704 31,239,613 (4,504,371) 270,245,946

Capi ta l assets ,being depreciated:

Bui ldings 232,446,592 232,446,592Improvementsother than bui ldings 39,466,535 1,498,116 40,964,651

Equipment 154,564,381 20,444,874 (9,569,728) 165,439,527Infrastructure 532,650,672 2,164,224 534,814,896Intangibles other 2,383,680 101,651 2,485,331Tota l capi ta l assetsbeing depreciated 961,511,860 24,208,865 (9,569,728) 976,150,997

Less accumulateddepreciation for:

Bui ldings (122,339,991) (9,535,080) (131,875,071)Improvementsother than bui ldings (34,064,582) (1,607,511) (35,672,093)

Equipment (107,954,248) (13,192,966) 8,153,391 (112,993,823)Infrastructure (120,197,732) (13,410,697) (133,608,429)Intangibles (920,151) (433,397) (1,353,548)Tota l accumulateddepreciation (385,476,704) (38,179,651) 8,153,391 (415,502,964)

Tota l capi ta l assets ,being depreciated, net 576,035,156 (13,970,786) (1,416,337) 560,648,033

Governmenta l activi tiescapita l assets , net 819,545,860$ 17,268,827$ (5,920,708)$ 830,893,979$

Balance BalanceBusiness type September 30, September 30,Activities: 2014 Additions Deletions 2015

Water and Sewer Unit:

Capita l Assets ,not being depreciated:

Land 20,118,612$ 276,726$ $ 20,395,338$Intangibles easements 1,888,824 737,182 2,626,006Construction in process 40,969,519 27,599,458 (14,897,929) 53,671,048Tota l capita l assetsnot being depreciated 62,976,955 28,613,366 (14,897,929) 76,692,392

Capita l assets ,being depreciated:


Equipment 5,527,923 431,925 (89,991) 5,869,857Tota l capita l assetsbeing depreciated 825,821,782 50,579,194 (89,991) 876,310,985


Bui ldings (31,072,823) (4,080,464) (35,153,287)Improvementsother than bui ldings (267,874,488) (23,092,115) (290,966,603)

Equipment (2,835,959) (542,929) 81,373 (3,297,515)Tota l accumulateddepreciation (301,783,270) (27,715,508) 81,373 (329,417,405)

Tota l capita l assets ,being depreciated, net 524,038,512 22,863,686 (8,618) 546,893,580

Water and Sewer UnitTota l capi ta l assets , net 587,015,467$ 51,477,052$ (14,906,547)$ 623,585,972$

Balance BalanceBusiness type September 30, September 30,Activities (Continued): 2014 Additions Deletions 2015

Sol id Waste Disposa l andResource Recovery System:

Capi ta l Assets ,not being depreciated:

Land 5,371,694$ $ $ 5,371,694$Construction in process 1,285,286 103,804 (1,292,158) 96,932Tota l capi ta l assetsnot being depreciated 6,656,980 103,804 (1,292,158) 5,468,626

Capi ta l assets ,being depreciated:


Equipment 939,723 71,242 (1,388) 1,009,577Tota l capi ta l assetsbeing depreciated 160,553,344 2,968,398 (1,388) 163,520,354


Bui ldings (19,306,489) (849,681) (20,156,170)Improvementsother than bui ldings (68,986,682) (2,756,355) (71,743,037)

Equipment (499,858) (124,240) 1,388 (622,710)Tota l accumulateddepreciation (88,793,029) (3,730,276) 1,388 (92,521,917)

Tota l capi ta l assets ,being depreciated, net 71,760,315 (761,878) 70,998,437

Sol id Waste Disposa l andResource Recovery SystemTota l capita l assets , net 78,417,295 (658,074) (1,292,158) 76,467,063

Bus iness Type Activi tiesTota l Capita l Assets , Net 665,432,762$ 50,818,978$ (16,198,705)$ 700,053,035$

Governmental ActivitiesGeneral government 6,091,017$Public safety 4,219,032Physical environment 313,212Transportation 22,631,691Economic environment 68,564Human services 876,128Culture and recreation 3,252,546Court related 727,461Total 38,179,651$

Business type ActivitiesWater and Sewer Unit 27,715,508$Solid Waste Disposal andResource Recovery System 3,730,276

Total 31,445,784$

Governmental Activities:

September 30, 2015 Principal Interest Principal Interest Total

2016 2,090,000$ 2,313,544$ 588,000$ 493,976$ 5,485,520$2017 2,150,000 2,257,206 622,000 463,930 5,493,1362018 2,215,000 2,187,881 660,000 430,964 5,493,8452019 2,305,000 2,100,640 700,000 395,456 5,501,0962020 2,395,000 2,009,583 743,000 357,306 5,504,889

2021 2025 13,510,000 8,543,891 4,489,000 1,108,953 27,651,8442026 2030 16,505,000 5,527,758 1,077,000 62,143 23,171,9012031 2035 15,900,000 1,734,907 17,634,907

Total 57,070,000$ 26,675,410$ 8,879,000$ 3,312,728$ 95,937,138$

September 30, 2015 Principal Interest Total

2016 5,160,000$ 13,414,773$ 18,574,773$2017 5,330,000 13,219,886 18,549,8862018 5,710,000 12,951,761 18,661,7612019 5,475,000 12,704,948 18,179,9482020 5,865,000 12,429,911 18,294,911

2021 2025 27,255,000 57,806,962 85,061,9622026 2030 36,280,000 49,119,473 85,399,4732031 2035 45,550,000 37,664,280 83,214,2802035 2040 52,405,000 22,470,647 74,875,6472041 2045 63,335,000 5,488,150 68,823,150

Total 252,365,000$ 237,270,791$ 489,635,791$

Solid Waste Disposal and Resource Recovery System:

September 30, 2015 Principal Interest Total

2016 4,505,000$ 1,792,798$ 6,297,798$2017 4,685,000 1,695,843 6,380,8432018 4,965,000 1,461,593 6,426,5932019 5,245,000 1,213,343 6,458,3432020 3,000,000 951,093 3,951,093

2021 2025 26,470,000 1,963,479 28,433,479Total 48,870,000$ 9,078,149$ 57,948,149$

Total, Business TypeActivi ties 301,235,000$ 246,348,940$ 547,583,940$

Revenue Bonds Notes Payable

Revenue Bonds

Revenue Bonds

Water and SewerRefunding RevenueBonds, Series 2014A

Solid Waste and ResourceRecovery Systems RefundingRevenue Bonds, Series 2015

Water and SewerRefunding RevenueBonds, Series 2006

Solid Waste and ResourceRecovery Systems Refunding

Revenue Bonds, Series2008D

71,160,000$ 19,945,000$October 30, 2014 July 22,2015

2.89% 2.29%54,290,000$ 18,170,000$6,599,372$ $420,341$ 112,724$

60,469,031$ 18,057,276$12,030,573$ 6,102,851$8,061,416$ 3,122,653$3,850,317$ 2,157,814$

21 9$

Fiscal Year Credits2016 993,092$2017 1,041,6542018 1,092,8002019 1,146,8932020 1,204,582

2021 2025 6,995,0472026 2030 5,099,194Total Credits 17,573,262$

EstimatedCapacity Remaining

Landfills Utilized Life (Years)East Pasco Class I (13 and 107 acres) 100.00%West Pasco Class I AI, AII, AIII,AIV 63.78% 14West Pasco Class III 49.73% 31West Pasco Class I SW I and SW 2 72.78% 39

GHPPC PCSOHP PCCCHPRetirees and Beneficiaries Receiving Benefits 286 55 112Active Plan Members 2,314 1,184 333

Total 2,600 1,239 445

Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions,

GHPPC PCSOHP PCCCHPARC 2,796,166$ 2,398,650$ 368,631$Interest 381,052 402,146 103,666Adjustment to ARC (388,928) (410,458) (105,809)Annual OPEB Cost 2,788,290 2,390,338 366,488Employer Contribution (324,047) (389,253) (213,405)Increase (Decrease) in NOO 2,464,243 2,001,085 153,083NOO (Beginning of Year) 10,887,216 11,489,892 2,961,890NOO (End of Year) 13,351,459$ 13,490,977$ 3,114,973$

Percentage ofAnnual OPEB

Annual OPEB Cost Contributed Net OPEBYear Ended Cost to the Plan Obligation

GHPPC 9/30/2015 2,788,290$ 11.62% 13,351,459$9/30/2014 2,685,304$ 11.55% 10,887,216$9/30/2013 1,961,785$ 37.50% 8,512,004$

PCSOHP 9/30/2015 2,390,338$ 16.28% 13,490,977$9/30/2014 2,285,881$ 16.30% 11,489,892$9/30/2013 2,306,795$ 12.70% 9,576,502$

PCCCHP 9/30/2015 366,488$ 58.23% 3,114,973$9/30/2014 351,516$ 58.10% 2,961,890$9/30/2013 470,612$ 45.20% 2,814,591$

Actuarial Actuarial Accrued Unfunded UAAL as aActuarial Value of Liability (AAL) AAL Funded Covered Percentage ofValuation Assets Entry Age (UAAL) Ratio Payroll Covered Payroll

Date ( a ) ( b ) ( b a ) ( a / b ) ( c ) ([ b a ] / c )

GHPPC9/30/2014 $ 26,935,910$ 26,935,910$ 0.00% 89,390,765$ 30.1%

PCSOHP9/30/2014 $ 22,722,417$ 22,722,417$ 0.00% 54,938,687$ 41.4%

PCCCHP9/30/2014 $ 4,356,226$ 4,356,226$ 0.00% 11,691,362$ 37.3%

Schedule of Funding ProgressPay As You Go Funding

GHPPC PCSOHP PCCCHPContribution Rate 3.00% 4.20% 3.00%Actuarial Valuation Date 9/30/2014 9/30/2014 9/30/2014Actuarial Cost Method Entry Age Entry Age Entry AgeAmortization Method Level percent, open Level percent, open Level percent, openRemaining Amortization Period 30 Years 30 Years 30 YearsAsset Valuation Method Unfunded Unfunded UnfundedActuarial Assumptions:

Investment Rate of Return* 3.50% 3.50% 3.50%Project Salary Increases* 3.70% to 7.80% 3.70% to 7.80% 3.70% to 7.80%Payroll Growth Assumption 3.25% 3.25% 3.25%Initial Trend Rate 8.00% 8.00% 8.00%Ultimate Trend Rate 4.50% 4.50% 4.50%

* Includes inflation at 2.60%

Accountingand Financial Reporting for Risk Financing and Related Insurance Issues,

Accounting and Financial Reporting for Risk Financing and Related Insurance Issues,

Current Year ClaimsFiscal Beginning of Fiscal and Changes in Claims Balance atYear Year Liability Estimates Payments Fiscal Year End2014 10,668,192$ 21,244,665$ 19,850,607$ 12,062,250$2015 12,062,250$ 32,788,761$ 31,390,166$ 13,460,845$

AmountsMunicipal Service FundsTransportation (69,813)$

Special Assessment FundEconomic Environment (32)$

Home Program FundMiscellaneous (54,949)$

Affordable Housing FundMiscellaneous (100)$

Penny for Pasco FundPhysical Environment (46,121)$

Board Capital Improvements FundGeneral Government (noncourt related) (37,094)$

Accounting andFinancial Reporting for Pensions Pension Transition forContributions Made Subsequent to the Measurement Date—an amendment of GASB Statement No. 68

Nonmajor Total

Governmental Governmental

General Fund Funds Funds

Assigned:

Culture and Recreation, Law Library 51,884 51,884

Culture and Recreation, Parks 22,030 22,030

Economic Environment, Incentive Projects 2,500,000 2,500,000

Economic Environment, Redevelopment 2,886 2,886

General Government, Court Technology 1,806,142 1,806,142

Human Services 2,186,274 2,186,274

Public Safety, Other Purposes 102,810 102,810

Transportation, Multi Modal 3,294,735 3,294,735

Total Assigned 6,617,256 3,349,505 9,966,761

Unassigned 48,448,613 (158,418) 48,290,195

Total Fund Balances 60,431,187$ 373,255,962$ 433,687,149$


Date ( a ) ( b ) ( b a ) ( a / b ) ( c ) ([ b a ] / c )9/30/2014 $ 26,935,910$ 26,935,910$ 0.00% 89,390,765$ 30.1%9/30/2012 $ 19,954,739$ 19,954,739$ 0.00% 82,847,911$ 24.1%9/30/2010 $ 18,424,023$ 18,424,023$ 0.00% 80,854,667$ 22.8%


Date ( a ) ( b ) ( b a ) ( a / b ) ( c ) ([ b a ] / c )9/30/2014 $ 22,722,417$ 22,722,417$ 0.00% 54,938,687$ 41.4%9/30/2012 $ 18,375,400$ 18,375,400$ 0.00% 56,541,529$ 32.5%9/30/2010 $ 17,560,804$ 17,560,804$ 0.00% 55,753,342$ 31.5%


Date ( a ) ( b ) ( b a ) ( a / b ) ( c ) ([ b a ] / c )9/30/2014 $ 4,356,226$ 4,356,226$ 0.00% 11,691,362$ 37.3%9/30/2012 $ 4,793,018$ 4,793,018$ 0.00% 11,626,888$ 41.2%9/30/2010 $ 3,963,632$ 3,963,632$ 0.00% 11,639,091$ 34.1%

Group Health Plan for Pasco Board of County Commissioners

Pasco County Sheriff's Office Health Plan

Pasco County Clerk & Comptroller's Office Health Plan

Fiscal AnnualYear Ended Required Percentage

September 30, Contribution Contributed2014 Group Health Plan for Pasco Board of County Commissioners 2,691,461$ 11.5%

Pasco County Sheriff's Office Health Plan 2,292,808$ 16.2%

Pasco County Clerk & Comptroller's Office Health Plan 353,552$ 57.8%

2012 Group Health Plan for Pasco Board of County Commissioners 1,834,383$ 38.4%



2010 Group Health Plan for Pasco Board of County Commissioners 1,836,218$ 26.9%



RURAL STATEOFFICE OF ECONOMIC AND ENVIRONMENTAL HOUSING TOTAL

GENERAL STATE COURTS DEVELOPMENT PARK LANDS INITIATIVES GENERALFUND ADMIN ADMIN. DEVELOPMENT EDUCATION MANAGEMENT PART. FUND

ASSETS

Cash and cash equivalents 33,634,774$ 38,692$ 1,317$ 12,312$ 7,671$ 1,633,528$ 1,768,689$ 37,096,983$ Investments 14,699,923 30,543 1,040 9,718 6,055 1,289,465 1,396,157 17,432,901 Accounts receivable, net 9,670,694 - 197,032 - - - - 9,867,726 Notes receivable - - - - - - 21,612,932 21,612,932 Assessments receivable 164 - - - - - - 164 Due from: Other funds 18,515,224 - - - - - - 18,515,224 Other governments 1,432,613 - 63,024 - - 197 588,662 2,084,496 Advances to other funds 1,534,000 - - - - - - 1,534,000 Inventories 161,248 - - - - - - 161,248 Prepaid items 24,372 24,372 Other assets 10,026 - - - - - - 10,026

Total assets 79,683,038$ 69,235$ 262,413$ 22,030$ 13,726$ 2,923,190$ 25,366,440$ 108,340,072$

LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES

Liabilities: Vouchers payable 4,733,757$ -$ -$ -$ -$ 182$ 163,603$ 4,897,542$ Accrued liabilities 7,274,142 - - - - 1,782 978 7,276,902 Due to: Other funds 4,317,204 - - - - - - 4,317,204 Other governments 286,884 - - - - - 1,681 288,565 Deposits 2,849,992 - - - - - - 2,849,992 Unearned revenue 3,435,981 65,979 - - - - - 3,501,960 Other liabilities 4,516 - - - - - - 4,516 Total liabilities 22,902,476 65,979 - - - 1,964 166,262 23,136,681

DEFERRED INFLOWS OF RESOURCES Revenue unavailable - - 241,327 - - - 24,530,877 24,772,204 Deferred inflows of resources - - 241,327 - - - 24,530,877 24,772,204

Fund balances:Nonspendable: Advances to other funds, inventories and prepaid items 1,719,620 - - - - - - 1,719,620 Spendable:Restricted for: Grant programs and projects - - 21,086 - - - 669,301 690,387 Federal or state law 3,256 - - 13,726 - - 16,982 Other purposes 17,103 - - - - - - 17,103 Committed to: By ordinances or other - - - - - 2,921,226 - 2,921,226 Assigned to: Contracted services 2,500,000 - - - - - - 2,500,000 Other purposes 4,095,226 - - 22,030 - - - 4,117,256 Unassigned: 48,448,613 - - - - - - 48,448,613 Total fund balances 56,780,562 3,256 21,086 22,030 13,726 2,921,226 669,301 60,431,187

Total liabilities, deferred inflows of resources, and fund balances 79,683,038$ 69,235$ 262,413$ 22,030$ 13,726$ 2,923,190$ 25,366,440$ 108,340,072$

The notes to the financial statements are an integral part of this statement.

RURAL STATEOFFICE OF ECONOMIC AND ENVIRONMENTAL HOUSING TOTAL

GENERAL STATE COURTS DEVELOPMENT PARK LANDS INITIATIVES GENERAL FUND ADMIN ADMIN. DEVELOPMENT EDUCATION MANAGEMENT PART. FUND

REVENUES Taxes 144,656,185$ -$ -$ -$ -$ -$ -$ 144,656,185$ Licenses and permits 208,325 - - - - - - 208,325 Intergovernmental: Federal 739,671 - 63,024 - - - - 802,695 State 14,847,201 - - - - - 845,704 15,692,905 Local 173,458 - - - - - - 173,458 Charges for services 28,184,663 - - - - - - 28,184,663 Fines and forfeits 243,822 - - - - - - 243,822 Interest and other earnings 298,312 280 - 121 - 11,870 45,931 356,514 Miscellaneous 19,238,588 - - - - 4,301 1,386,913 20,629,802 Total revenues 208,590,225 280 63,024 121 - 16,171 2,278,548 210,948,369

EXPENDITURES Current: General government (noncourt-related) 57,448,780 - - - - - - 57,448,780 Public safety 113,922,569 - - - - - - 113,922,569 Physical environment 344,484 - - - - 55,279 - 399,763 Economic environment 297,125 - 63,024 - - - 2,278,548 2,638,697 Human services 11,330,138 - - - - - - 11,330,138 Culture and recreation 13,637,424 - - 16,769 - - - 13,654,193 Court-related 5,263,886 - - - - - - 5,263,886 Miscellaneous 6,264,629 - - - - - - 6,264,629 Total expenditures 208,509,035 - 63,024 16,769 - 55,279 2,278,548 210,922,655

Excess (deficiency) of revenues over expenditures 81,190 280 - (16,648) - (39,108) - 25,714

OTHER FINANCING SOURCES (USES) Transfers in 344,640 - - - - - - 344,640 Transfers out (10,333,109) - - - - - - (10,333,109) Total other financing sources (uses) (9,988,469) - - - - - - (9,988,469)

Net change in fund balances (9,907,279) 280 - (16,648) - (39,108) - (9,962,755)

Fund balances at beginning of year 66,687,841 2,976 21,086 38,678 13,726 2,960,334 669,301 70,393,942

Fund balances at end of year 56,780,562$ 3,256$ 21,086$ 22,030$ 13,726$ 2,921,226$ 669,301$ 60,431,187$

The notes to the financial statements are an integral part of this statement.

LOCAL BUILDING WEST PASCO EAST PASCOMUNICIPAL OPTION INSPECTIONS LAW LAW ROAD ANDSERVICES GAS TAX AND PERMITTING LIBRARY LIBRARY BRIDGE

ASSETS

Cash and cash equivalents 2,466,707$ 13,751,628$ 3,471,983$ 17,936$ 10,303$ 8,861,886$ Investments 3,183,740 10,855,183 2,740,616 14,099 8,133 6,995,345Accounts receivable, net 72,882 66,249 - - - 4,651Notes receivable - - - - - -Assessments receivable - - - - - -Due from:

Other funds 513,545 - - - - -Other governments 1,518,514 832,088 - 4,012 4,012 1,730,709

Prepaid Items - - - - - -Inventories - - - - - -Other assets - - - - - -

Total assets 7,755,388$ 25,505,148$ 6,212,599$ 36,047$ 22,448$ 17,592,591$


Liabilities:Vouchers payable 430,647$ 585,147$ 207,992$ 2,885$ 1,050$ 983,993$ Contracts payable - 193,216 - - - 5,596Accrued liabilities 433,499 - 120,281 1,338 1,338 153,267Due to:

Other funds - 419 - - - -Other governments 8,984 - 95,693 - - -

Deposits 600 - - - - -Unearned revenue - 291,366 - - - -Other liabilities - - - - - -

Total liabilities 873,730 1,070,148 423,966 4,223 2,388 1,142,856

Deferred Inflows of Resources: Unavailable revenue - - - - - - Total deferred inflows of resources - - - - - -

Fund balances:Nonspendable:

Inventories and prepaid items - - - - - -Spendable:Restricted for:

Bond covenants or debt service - - - - - -Grant programs and projects - - - - - -Federal or state law 6,881,658 24,435,000 5,788,633 - - 16,449,735Impact fees - - - - - -Other purposes - - - - - -

Committed to:Capital projects - - - - - -By ordinances or other - - - - - -

Assigned to:Other purposes - - - 31,824 20,060 -

Unassigned: - - - - - -Total fund balances (deficit) 6,881,658 24,435,000 5,788,633 31,824 20,060 16,449,735

Total liabilities, deferred inflows of resources, and fund balances 7,755,388$ 25,505,148$ 6,212,599$ 36,047$ 22,448$ 17,592,591$

See accompanying independent auditors' report.

SPECIAL REVENUE FUNDS

INTER- QUAILTOURIST GOVERNMENTAL HOLLOW MUNICIPAL DEPT. OF

LAW DEVELOPMENT SPECIAL RADIO RESTORE VILLAGE FIRE SERVICE JUVENILEENFORCEMENT TAX ASSESSMENT COMMUNICATION ACT MSBU UNIT JUSTICE

371,780$ 6,907,601$ 6,556,582$ 1,100,019$ 20,261$ 32,812$ 4,571,267$ -$293,473 5,452,683 5,175,598 868,327 15,994 25,901 3,608,441 -

- 1,089 - - - - - - - - - - - - - - - - 13,323,000 - - - - -

- - - - - - 45,440 - 23,562 63,431 - 18,360 - - 15,089 940

- - - 210 - - - - - - - - - - - - - - - - - - - -

688,815$ 12,424,804$ 25,055,180$ 1,986,916$ 36,255$ 58,713$ 8,240,237$ 940$

-$ 47,039$ 35,926$ 31,611$ 566$ 1,155$ 515,908$ -$ - - 1,372 - - - - - - 6,260 - - 38 - 631,859 -

- - - 108 - - - 940 149,819 - 4,136 - - - - -

- - - - - - - - - - 74,422 - - - - - - - - - - - - -

149,819 53,299 115,856 31,719 604 1,155 1,147,767 940

- - 13,323,000 - - - - -- - 13,323,000 - - - - -

- - - 210 - - - -

- - - - - - - - - - - - 35,651 - - - - 12,371,505 11,616,324 1,954,987 - 57,558 7,092,470 -

538,996 - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - -

538,996 12,371,505 11,616,324 1,955,197 35,651 57,558 7,092,470 -

688,815$ 12,424,804$ 25,055,180$ 1,986,916$ 36,255$ 58,713$ 8,240,237$ 940$


HUD HOUSING HUD DEPT. OFCRIMINAL AND AMERICAN HOUSING COMMUNITYJUSTICE RECOVERY RECOVERY AND DEPT. OF AFFAIRS(FDLE) NSP - II & REINV.ACT RECOVERY HUD GRANTS

ASSETS

Cash and cash equivalents 25,059$ -$ 2,756$ 101,055$ -$ -$Investments 19,781 - 2,176 79,771 - - Accounts receivable, net - 201,336 - 304,507 472,192 - Notes receivable - 10,285,005 - 7,487,638 329,336 - Assessments receivable - - - - 1,921,986 - Due from:

Other funds - - - - - 10,376Other governments 5,479 1,504,536 1 1,103,956 1,245,041 473,274

Prepaid Items - - - - - - Inventories - - - - - - Other assets - - - 706,030 - -

Total assets 50,319$ 11,990,877$ 4,933$ 9,782,957$ 3,968,555$ 483,650$


Liabilities:Vouchers payable -$ 1,456,304$ -$ 15,339$ 116,452$ 1,836$Contracts payable - - - - - - Accrued liabilities - 16,309 - - 9,242 529 Due to:

Other funds - 49,931 - - 836,702 376,715Other governments 50,161 140 - 57 17,164 -

Deposits - - - - - - Unearned revenue 177 - 4,933 - - 102,002Other liabilities - - - - - -

Total liabilities 50,338 1,522,684 4,933 15,396 979,560 481,082

Deferred Inflows of Resources: Unavailable revenue - 10,471,394 - 8,782,454 2,988,995 -

Total deferred inflows of resources - 10,471,394 - 8,782,454 2,988,995 -


Inventories and prepaid items - - - - - - Spendable:Restricted for:

Bond covenants or debt service - - - - - - Grant programs and projects - - - 985,107 - 2,568Federal or state law - - - - - - Impact fees - - - - - - Other purposes - - - - - -

Committed to:Capital projects - - - - - - By ordinances or other - - - - - -

Assigned to:Other purposes - - - - - -

Unassigned: (19) (3,201) - - - -Total fund balances (deficit) (19) (3,201) - 985,107 - 2,568

Total liabilities, deferred inflows of resources, and fund balances 50,319$ 11,990,877$ 4,933$ 9,782,957$ 3,968,555$ 483,650$


HUD HOUSING U.S. DEPT. OF FLORIDA DEPT. OFDEPT. OF AND HEALTH AND DIVISION LIBRARY DEPT. OF ELDERTRANS- HOME RECOVERY HUMAN OF LIBRARY COOPERATIVE ELDER AFFAIRS

PORTATION PROGRAM NSP III SERVICES SERVICES GRANT AFFAIRS (FEDERAL)

-$ -$ -$ -$ 18$ 4,961$ 115$ -$- - - - 15 3,916 91 - - - - - - - - - - 12,533,279 1,927,565 - - - - - - - - - - - - -

37,927 - - - - - - - 7,753,057 1,232,088 1,491,751 151,140 - - - 51,874

- - - - - - - - - - - - - - - - - - - - - - - -

7,790,984$ 13,765,367$ 3,419,316$ 151,140$ 33$ 8,877$ 206$ 51,874$

1,566,776$ 524,190$ 44,631$ 63,355$ 16$ 8,877$ -$ 16,257$ 617,481 - - - - - - -

- - 5,079 537 - - - -

4,624,374 736,324 1,128,536 87,248 - - - 35,460- 60 331 - 43 - - - - - - - - - - -

982,353 - - - - - 244 157 - - - - - - - -

7,790,984 1,260,574 1,178,577 151,140 59 8,877 244 51,874

- 12,504,793 2,240,739 - - - - -- 12,504,793 2,240,739 - - - - -

- - - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - -

- - - - - - - - - - - - (26) - (38) -- - - - (26) - (38) -

7,790,984$ 13,765,367$ 3,419,316$ 151,140$ 33$ 8,877$ 206$ 51,874$

(Continued)

TRANS- PUBLIC TITLE III-B DEPT. OFU.S. DEPT. PORTATION TRANS- TRANS- CHILDREN ELDERLY

OF JUSTICE SERVICES PORTATION PORTATION AND FAMILIES NUTRITION

ASSETS

Cash and cash equivalents -$ -$ 47,557$ -$ 67,334$ -$ Investments - - 37,541 - 53,151 - Accounts receivable, net - 4,408 166,752 - - - Notes receivable - - - - - - Assessments receivable - - - - - - Due from:

Other funds - - - - 15,979 - Other governments 63,925 126,167 - 62,492 - 264,819

Prepaid Items - 608 - - - - Inventories - - - - - - Other assets - - - - - -

Total assets 63,925$ 131,183$ 251,850$ 62,492$ 136,464$ 264,819$


Liabilities:Vouchers payable 13,767$ -$ 182,182$ -$ 1,754$ -$ Contracts payable - - - - - - Accrued liabilities - - 77,237 - - - Due to:

Other funds 26,963 69,198 59,279 62,492 45,440 263,336 Other governments 22,327 - - - - -

Deposits - - - - - - Unearned revenue 868 61,985 - - 89,479 1,483 Other liabilities - - - - - -

Total liabilities 63,925 131,183 318,698 62,492 136,673 264,819



Inventories and prepaid items - 608 - - - - Spendable:Restricted for:

Bond covenants or debt service - - - - - - Grant programs and projects - - - - - Federal or state law - - - - - - Impact fees - - - - - - Other purposes - - - - - -



Unassigned: - (608) (66,848) - (209) - Total fund balances (deficit) - - (66,848) - (209) -

Total liabilities, deferred inflows of resources, and fund balances 63,925$ 131,183$ 251,850$ 62,492$ 136,464$ 264,819$

OFFICE OF U.S. FLORIDADEPT. OF TOURISM, TRADE, DEPT. OF ENVIRONMENTAL 911 BOATING

HOMELAND AND ECONOMIC ENVIRONMENTAL PROTECTION AFFORDABLE WILLIAMSBURG EMERGENCY ANDSECURITY DEVELOPMENT PROTECTION AGENCY HOUSING WEST MSTU SERVICES IMPROVEMENT

-$ -$ 529,123$ 11$ 171,012$ 12,672$ 1,612,380$ 880,575$ - - 417,677 9 134,993 10,003 1,272,772 695,103 - - - - - - 43,455 - - - - - - - - - - - - - - - - -

- 1,529,674 - - - - - - 59,013 150,829 676 - - - 176,283 10,749

- - - - - - - - - - - - - - - - - - - - - - - -

59,013$ 1,680,503$ 947,476$ 20$ 306,005$ 22,675$ 3,104,890$ 1,586,427$

-$ -$ 1,761$ -$ -$ 2,589$ 54,563$ 1,999$ - - - - - - 1 - - - - - - - 6,360 -

59,013 1,680,503 - - - - - - - - - - - - - - - - - - - - - - - - 602 20 - - - - - - - - - - - -

59,013 1,680,503 2,363 20 - 2,589 60,924 1,999

- - - - - - - - - - - - - - - -

- - - - - - - -

- - - - - - - - - - 945,113 - - - - 1,584,428 - - - - - 20,086 3,043,966 - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - 306,005 - - -

- - - - - - - - - - - - - - - - - - 945,113 - 306,005 20,086 3,043,966 1,584,428

59,013$ 1,680,503$ 947,476$ 20$ 306,005$ 22,675$ 3,104,890$ 1,586,427$

(Continued)

TRANS- TRANS- TRANS- COURTPORTATION PORTATION PORTATION FACILITIES

U.S. 19 IMPACT FEE IMPACT FEE IMPACT FEE SCHOOL IMPROVEMENTCONCURRENCY WEST CENTRAL EAST IMPACT FEES 939.185 F.S.

ASSETS

Cash and cash equivalents 656,604$ 7,259,586$ 33,737,786$ 4,927,407$ 1,229,251$ 5,362,221$ Investments 518,307 5,730,531 26,631,743 3,889,569 970,340 4,232,800 Accounts receivable, net - - - 1,218 - - Notes receivable - - - - - - Assessments receivable - - - - - - Due from:

Other funds - - - 57,148 - - Other governments - - - - - 69,685

Prepaid Items - - - - - - Inventories - - - - - - Other assets - - - - - -

Total assets 1,174,911$ 12,990,117$ 60,369,529$ 8,875,342$ 2,199,591$ 9,664,706$


Liabilities:Vouchers payable -$ 364,350$ 124,578$ 104,170$ 2,192,197$ -$ Contracts payable - 225,448 32,278 106,220 - - Accrued liabilities - - - - - - Due to:

Other funds - - 1,529,674 - - - Other governments - - - - 11,699 -

Deposits - - - - - - Unearned revenue - 52,100 63,455 - - - Other liabilities - - - - - -

Total liabilities - 641,898 1,749,985 210,390 2,203,896 -



Inventories and prepaid items - - - - - - Spendable:Restricted for:

Bond covenants or debt service - - - - - - Grant programs and projects - - - - - - Federal or state law - - - - - 9,664,706 Impact fees 1,174,911 12,348,219 58,619,544 8,664,952 - - Other purposes - - - - - -



Unassigned: - - - - (4,305) - Total fund balances (deficit) 1,174,911 12,348,219 58,619,544 8,664,952 (4,305) 9,664,706

Total liabilities, deferred inflows of resources, and fund balances 1,174,911$ 12,990,117$ 60,369,529$ 8,875,342$ 2,199,591$ 9,664,706$

ALCOHOLAND MULTI-MODAL LACOOCHEE/ COMBAT PARK PARK PARK

OTHER TEEN TRANS- TRILBY IMPACT IMPACT FEE IMPACT FEE IMPACT FEEDRUG ABUSE COURT PORTATION REDEVELOPMENT FEE WEST CENTRAL EAST

-$ 44,703$ 1,841,278$ 1,613$ 1,986,518$ 5,151,632$ 2,246,411$ 364,779$ - 35,287 1,453,457 1,273 1,568,107 4,066,566 1,773,259 287,947 - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - 1,223 14,667 - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - -

1,223$ 94,657$ 3,294,735$ 2,886$ 3,554,625$ 9,218,198$ 4,019,670$ 652,726$

-$ 696$ -$ -$ 497$ 1,254$ 116,902$ -$ - - - - - - 9,667 622 - 4,084 - - - - - -

3,785 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 848,011 - - - - - - - - -

3,785 4,780 - - 497 1,254 974,580 622

- - - - - - - - - - - - - - - -

- - - - - - - -

- - - - - - - - - - - - - - - - - 89,877 - - - - - - - - - - 3,554,128 9,216,944 3,045,090 652,104 - - - - - - - -

- - - - - - - - - - - - - - - -

- - 3,294,735 2,886 - - - - (2,562) - - - - - - - (2,562) 89,877 3,294,735 2,886 3,554,128 9,216,944 3,045,090 652,104

1,223$ 94,657$ 3,294,735$ 2,886$ 3,554,625$ 9,218,198$ 4,019,670$ 652,726$

(Continued)

RESCUE HURRICANEIMPACT LIBRARY MITIGATION STORMWATER FOX RIDGE

FEE IMPACT FEE FEE MANAGEMENT MSBU

ASSETS

Cash and cash equivalents 2,900,111$ 1,303,483$ 128,603$ 6,505,384$ 107,089$ Investments 2,289,274 1,028,936 101,516 5,135,184 84,533 Accounts receivable, net - - - - - Notes receivable - - - - - Assessments receivable - - - - - Due from:

Other funds - - - - - Other governments - - - 37,193 -

Prepaid Items - - - 90 - Inventories - - - - - Other assets - - - - -

Total assets 5,189,385$ 2,332,419$ 230,119$ 11,677,851$ 191,622$


Liabilities:Vouchers payable 345$ 194$ 482$ 1,174,390$ 2,755$ Contracts payable - - - 106,911 - Accrued liabilities - - - 79,412 - Due to:

Other funds - - - - - Other governments - - - 687 -

Deposits - - - - - Unearned revenue - - - - - Other liabilities - - - - -

Total liabilities 345 194 482 1,361,400 2,755

Deferred Inflows of Resources: Unavailable revenue - - - - - Total deferred inflows of resources - - - - -


Inventories and prepaid items - - - 90 - Spendable:Restricted for:

Bond covenants or debt service - - - - - Grant programs and projects - - - - - Federal or state law - - - 10,316,361 - Impact fees 5,189,040 2,332,225 229,637 - - Other purposes - - - - 188,867

Committed to:Capital projects - - - - - By ordinances or other - - - - -

Assigned to:Other purposes - - - - -

Unassigned: - - - - - Total fund balances (deficit) 5,189,040 2,332,225 229,637 10,316,451 188,867

Total liabilities, deferred inflows of resources, and fund balances 5,189,385$ 2,332,419$ 230,119$ 11,677,851$ 191,622$

CLERK & SUPERVISORCOMPTROLLER SHERIFF OF ELECTIONS

LIGHTING SPECIAL SPECIAL SPECIALTREE DISTRICTS REVENUE REVENUE REVENUE TOTAL

820,365$ 1,722,869$ 3,812,525$ 4,063,126$ -$ 137,768,737$ 647,576 1,359,989 - - - 103,770,726

- - - 46,638 - 1,385,377 - - - - - 32,562,823 - 125,848 - - - 15,370,834

- - - 3,350,763 117,535 5,678,387 - - - 438,674 - 20,699,309 - - 159,493 - - 160,401 - - - 459,989 - 459,989 - - - - - 706,030

1,467,941$ 3,208,706$ 3,972,018$ 8,359,190$ 117,535$ 318,562,613$

14,850$ 321,892$ 185,524$ 151,298$ -$ 11,672,941$ - - - - - 1,298,812 - - 447,064 257,571 - 2,251,304

- - - - 1,934,695 - 13,611,135 - 60 - 535 - 361,896 - - 781 - - 1,381 - 905,926 13,487 578,377 111,731 4,183,178 - - 19,157 - - 19,157

14,850 1,227,878 666,013 2,922,476 111,731 33,399,804

- - - - - 50,311,375 - - - - - 50,311,375

- - 159,493 459,989 - 620,390

- - - - - - - - - - 5,804 3,558,671 - 1,980,828 - - - 111,763,694 - - - - - 105,565,790 - - 3,227,114 4,976,725 - 8,392,706

- - - - - - 1,453,091 - - - - 1,759,096

- - - - - 3,349,505 - - (80,602) - - (158,418)

1,453,091 1,980,828 3,306,005 5,436,714 5,804 234,851,434

1,467,941$ 3,208,706$ 3,972,018$ 8,359,190$ 117,535$ 318,562,613$

(Continued)

GUARANTEED GUARANTEEDHUD ENTITLEMENT HALF-CENT ENTITLEMENT HALF-CENT GUARANTEED

SECTION 108 REFUNDING SALES TAX REFUNDING SALES TAX ENTITLEMENTNOTE REVENUE BONDS REVENUE BONDS REVENUE BONDS REVENUE BONDS LOAN

SERIES 2006 SERIES 2003 SERIES 2003 SERIES 2013 SERIES 2013 SERIES 2014 TOTAL

ASSETS

Cash and cash equivalents 1,144,115$ 586,389$ 239,328$ 3,079,063$ 2,818,974$ 5,316,634$ 13,184,503$ Investments - 462,879 188,920 2,430,533 - 4,196,815 7,279,147 Accounts receivable, net - - - - - - - Notes receivable - - - - - - - Assessments receivable - - - - - - - Due from:

Other funds - - - - - - - Other governments - - - - - - -

Prepaid Items - - - - - - - Inventories - - - - - - - Other assets - - - - - - -

Total assets 1,144,115$ 1,049,268$ 428,248$ 5,509,596$ 2,818,974$ 9,513,449$ 20,463,650$


Liabilities:Vouchers payable -$ -$ -$ -$ -$ -$ -$ Contracts payable - - - - - - - Accrued liabilities - - - - - - - Due to: -

Other funds - - - - 2,818,974 3,956,177 6,775,151 Other governments - - - - - - -

Deposits - - - - - - - Unearned revenue - - - - - - - Other liabilities - - - - - - -

Total liabilities - - - - 2,818,974 3,956,177 6,775,151

Deferred Inflows of Resources: Unavailable revenue - - - - - - - Total deferred inflows of resources - - - - - - -


Inventories and prepaid items - - - - - - - Spendable:Restricted for:

Bond covenants or debt service 1,144,115 1,049,268 428,248 5,509,596 - 5,557,272 13,688,499 Grant programs and projects - - - - - - - Federal or state law - - - - - - - Impact fees - - - - - - - Other purposes - - - - - - -

Committed to:Capital projects - - - - - - - By ordinances or other - - - - - - -

Assigned to:Other purposes - - - - - - -

Unassigned: - - - - - - - Total fund balances (deficit) 1,144,115 1,049,268 428,248 5,509,596 - 5,557,272 13,688,499

Total liabilities, deferred inflows of resources, and fund balances 1,144,115$ 1,049,268$ 428,248$ 5,509,596$ 2,818,974$ 9,513,449$ 20,463,650$

(Continued)

DEBT SERVICE FUNDS

BOARD MOBILITY MOBILITY MOBILITY TOTALCAPITAL FEE FEE FEE VOPH TOMMY - GUARANTEED HALF-CENT NONMAJOR

PENNY FOR IMPROVE- DISTRICT 1 DISTRICT 2 DISTRICT 3 TRANS- TOWN ENTITLEMENT SALES TAX GOVERNMENTALPASCO MENTS WEST CENTRAL EAST PORTATION CAPITAL CIP CONSTRUCTION TOTAL FUNDS

ASSETS

Cash and cash equivalents 39,253,047$ 3,737,031$ 6,054,019$ 9,064,046$ 7,679,552$ 95,044$ 4,117,738$ 612$ 1,794,764$ 71,795,853$ 222,749,093$Investments 30,985,349 2,949,917 4,778,887 7,154,925 6,062,042 75,025 - 483 1,416,741 53,423,369 164,473,242 Accounts receivable, net - - - - - - - - - - 1,385,377 Notes receivable - - - - - - - - - - 32,562,823 Assessments receivable - - - - - - - - - - 15,370,834 Due from:

Other funds - - - - - - - - - - 5,678,387 Other governments 2,450,304 - - - - - - - - 2,450,304 23,149,613

Prepaid Items - - - - - - - - - - 160,401 Inventories - - - - - - - - - - 459,989 Other assets - - - - - - - - - - 706,030

Total assets 72,688,700$ 6,686,948$ 10,832,906$ 16,218,971$ 13,741,594$ 170,069$ 4,117,738$ 1,095$ 3,211,505$ 127,669,526$ 466,695,789$


Liabilities:Vouchers payable 1,196,488$ 129,207$ 379,259$ 495$ 16,271$ -$ 1,120$ -$ 156$ 1,722,996$ 13,395,937$Contracts payable 20,907 14,357 128,724 - - - 17,140 - 20,292 201,420 1,500,232 Accrued liabilities - - - - - - - - - - 2,251,304 Due to:

Other funds - 2,567 - - - - - - - 2,567 20,388,853 Other governments - 126 - - - - - - - 126 362,022

Deposits - - 975,337 - 51,051 - - - - 1,026,388 1,027,769 Unearned revenue - - - - - - - - - - 4,183,178 Other liabilities - - - - - - - - - - 19,157

Total liabilities 1,217,395 146,257 1,483,320 495 67,322 - 18,260 - 20,448 2,953,497 43,128,452

Deferred Inflows of Resources: Unavailable revenue - - - - - - - - - - 50,311,375 Total deferred inflows of resources - - - - - - - - - - 50,311,375


Inventories and prepaid items - - - - - - - - - - 620,390 Spendable:Restricted for:

Bond covenants or debt service - - - - - - - - - - 13,688,499 Grant programs and projects - - - - - - - - - - 3,558,671 Federal or state law 71,471,305 - 9,349,586 16,218,476 13,674,272 170,069 4,099,478 - 3,191,057 118,174,243 229,937,937 Impact fees - - - - - - - - - - 105,565,790 Other purposes - - - - - - - - - - 8,392,706

Committed to:Capital projects - 6,540,691 - - - - - 1,095 - 6,541,786 6,541,786 By ordinances or other - - - - - - - - - - 1,759,096

Assigned to:Other purposes - - - - - - - - - - 3,349,505

Unassigned: - - - - - - - - - - (158,418) Total fund balances (deficit) 71,471,305 6,540,691 9,349,586 16,218,476 13,674,272 170,069 4,099,478 1,095 3,191,057 124,716,029 373,255,962

Total liabilities, deferred inflows of resources, and fund balances 72,688,700$ 6,686,948$ 10,832,906$ 16,218,971$ 13,741,594$ 170,069$ 4,117,738$ 1,095$ 3,211,505$ 127,669,526$ 466,695,789$

CAPITAL PROJECTS FUNDS

B102 B103 B104 B105 B106 B107

LOCAL BUILDING WEST PASCO EAST PASCOMUNICIPAL OPTION INSPECTIONS LAW LAW ROAD ANDSERVICES GAS TAX AND PERMITTING LIBRARY LIBRARY BRIDGE

REVENUESTaxes 5,136,089$ 5,682,523$ 159,275$ -$ -$ 13,953,729$ Special assessments - - - - - 1,296 Licenses and permits 1,907,222 - 5,225,359 - - - Intergovernmental:

Federal - - - - - - State 10,794,862 - - - - 6,147,408 Local - - - - - -

Charges for services 3,554,473 - 2,709,910 70,453 62,954 560,063 Fines and forfeits 5,425 - 46,716 - - - Interest and other earnings 87,916 102,474 22,910 125 84 45,079 Miscellaneous 75,970 632,321 234,707 - - 82,472

Total revenues 21,561,957 6,417,318 8,398,877 70,578 63,038 20,790,047

EXPENDITURESCurrent:

General government (noncourt-related) 6,350,561 - 1,248,331 - - - Public safety 5,735,375 - 4,532,713 - - - Physical environment 366,120 - - - - - Transportation 1,289,758 5,421,739 - - - 13,056,717 Economic environment 91,182 - - - - - Human services 2,038,584 318,256 - - - - Culture and recreation - - - - - - Court-related - - - 71,214 77,523 - Miscellaneous 3,293,914 - 1,078,516 - - 929,424

Capital outlayDebt service:

Principal - - - - - - Interest and debt service charges - - - - - -

Total expenditures 19,165,494 5,739,995 6,859,560 71,214 77,523 13,986,141

Excess (deficiency) of revenues over expenditures 2,396,463 677,323 1,539,317 (636) (14,485) 6,803,906

OTHER FINANCING SOURCES (USES)Transfers in 925,954 - - - - 3,184,522 Transfers out (3,187,022) - - - - (334,668)

Total other financing sources (uses) (2,261,068) - - - - 2,849,854

Net change in fund balances 135,395 677,323 1,539,317 (636) (14,485) 9,653,760

Fund balances at beginning of year 6,746,263 23,757,677 4,249,316 32,460 34,545 6,795,975

Fund balance (deficit) at end of year 6,881,658$ 24,435,000$ 5,788,633$ 31,824$ 20,060$ 16,449,735$



B108 B113 B114 B115 B116 B118 B119 B120

INTER- QUAILTOURIST GOVERNMENTAL HOLLOW MUNICIPAL DEPT. OF

LAW DEVELOPMENT SPECIAL RADIO RESTORE VILLAGE FIRE SERVICE JUVENILEENFORCEMENT TAX ASSESSMENT COMMUNICATION ACT MSBU UNIT JUSTICE

-$ 980,061$ -$ -$ -$ -$ 31,364,994$ -$ - - 1,833,883 - - 6,867 - - - - - - - - - -

- - - - - - - - - - - - - - 40,064 - - - - - - - - - - - - 252,961 - - 158 -

186,749 - - - - - - - 2,634 45,911 425,640 8,045 220 249 65,732 -

- 74 - - - - 2,290 - 189,383 1,026,046 2,259,523 261,006 220 7,116 31,473,238 -

- - - 265,383 - - - - 203,209 - - 41,643 32,310 - 29,014,323 -

- - - - - - - - - - 2,705,797 - - 8,919 - - - 713,516 32 - 1,109 - - - - - - - - - - - - 543,980 - - - - - - - - - - - - - - - - - 488 - - - -

-

- - - - - - - - - - - - - - - -

203,209 1,257,496 2,705,829 307,514 33,419 8,919 29,014,323 -

(13,826) (231,450) (446,306) (46,508) (33,199) (1,803) 2,458,915 -

- 2,225,421 334,668 - 20,000 - - - - - - - - - - - - 2,225,421 334,668 - 20,000 - - -

(13,826) 1,993,971 (111,638) (46,508) (13,199) (1,803) 2,458,915 -

552,822 10,377,534 11,727,962 2,001,705 48,850 59,361 4,633,555 -

538,996$ 12,371,505$ 11,616,324$ 1,955,197$ 35,651$ 57,558$ 7,092,470$ -$

(Continued)


B122 B123 B124 B125 B126 B127

HUD HOUSING HUD DEPT. OFCRIMINAL AND AMERICAN HOUSING COMMUNITYJUSTICE RECOVERY RECOVERY AND DEPT. OF AFFAIRS(FDLE) NSP - II & REINV. ACT RECOVERY HUD GRANTS

REVENUESTaxes -$ -$ -$ -$ -$ -$Special assessments - - - - 272,769 -Licenses and permits - - - - - -Intergovernmental:

Federal 128,215 2,911,386 61,742 - 2,931,285 137,887State - - - - - 523,947Local - - - - - -

Charges for services - - - 17,339 28,042 -Fines and forfeits - - - - - -Interest and other earnings - 498 - 26,738 33,811 -Miscellaneous - 268,088 - 938,553 27,405 -

Total revenues 128,215 3,179,972 61,742 982,630 3,293,312 661,834


General government (noncourt-related) - - - - 584,930 45,364Public safety 128,213 - - - - 616,469Physical environment - - - - 64,877 -Transportation - - 61,742 - 216,999 -Economic environment - 3,179,974 - 84,056 1,119,050 -Human services - - - - 229,179 -Culture and recreation - - - - - -Court-related - - - - - -Miscellaneous - - - - - -

Capital outlay -Debt service:

Principal - - - - - -Interest and debt service charges - - - - - -

Total expenditures 128,213 3,179,974 61,742 84,056 2,215,035 661,833

Excess (deficiency) of revenues over expenditures 2 (2) - 898,574 1,078,277 1

OTHER FINANCING SOURCES (USES)Transfers in - - - - - -Transfers out - - - - (1,078,277) -

Total other financing sources (uses) - - - - (1,078,277) -

Net change in fund balances 2 (2) - 898,574 - 1

Fund balances at beginning of year (21) (3,199) - 86,533 - 2,567

Fund balances at end of year (19)$ (3,201)$ -$ 985,107$ -$ 2,568$


B128 B129 B130 B131 B134 B135 B137 B138

HUD HOUSING U.S. DEPT. OF FLORIDA DEPT. OFDEPT. OF AND HEALTH AND DIVISION LIBRARY DEPT. OF ELDERTRANS- HOME RECOVERY HUMAN OF LIBRARY COOPERATIVE ELDER AFFAIRS

PORTATION PROGRAM NSP III SERVICES SERVICES GRANT AFFAIRS (FEDERAL)

-$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - -

4,834,376 1,463,992 - 193,682 15,000 - - 144,767 10,345,630 - - - - 8,877 - -

- - - - - - - - - - 398 - - - - - - - - - - - - - - 15,810 - - - - - - - 596,448 367,184 - - - - -

15,180,006 2,076,250 367,582 193,682 15,000 8,877 - 144,767

672,969 - - - - - - - 923,880 - - - - - - -

- - - - - - - - 14,704,720 - - - 15,000 - - -

- 2,021,301 367,582 - - - - - - - - - - - - 144,767 - - - - - 8,877 - - - - - 193,682 - - - -

64,100 54,949 - - - - - - - - -

- - - - - - - - - - - - - - - -

16,365,669 2,076,250 367,582 193,682 15,000 8,877 - 144,767

(1,185,663) - - - - - - -

1,185,663 - - - - - - - (52,783) - - - - - - -

1,132,880 - - - - - - -

(52,783) - - - - - - -

52,783 - - - (26) - (38) -

-$ -$ -$ -$ (26)$ -$ (38)$ -$

(Continued)


B139 B140 B141 B142 B143 B144

TRANS- PUBLIC TITLE III-B DEPT. OFU.S. DEPT. PORTATION TRANS- TRANS- CHILDREN ELDERLY

OF JUSTICE SERVICES PORTATION PORTATION AND FAMILIES NUTRITION

REVENUESTaxes -$ -$ -$ -$ -$ -$Special assessments - - - - - - Licenses and permits - - - - - - Intergovernmental:

Federal 272,869 - - 179,594 - 1,041,823State - - - 48,406 70,419 121,238Local - - - - - -

Charges for services - - 834,746 - - - Fines and forfeits - - - - - - Interest and other earnings - - - - - - Miscellaneous - - 169,260 12,000 - 17,482

Total revenues 272,869 - 1,004,006 240,000 70,419 1,180,543


General government (noncourt-related) - - - - - - Public safety 126,701 - - - 86,398 -Physical environment - - - - - - Transportation - - 1,063,891 271,577 - - Economic environment - - - - - - Human services 146,168 - - - - 1,180,543Culture and recreation - - - - - - Court-related - - - - - - Miscellaneous - - - - - -

Capital outlay - - - Debt service:


Total expenditures 272,869 - 1,063,891 271,577 86,398 1,180,543

Excess (deficiency) of revenues over expenditures - - (59,885) (31,577) (15,979) -

OTHER FINANCING SOURCES (USES)Transfers in - - - 31,577 15,979 - Transfers out - - - - - -

Total other financing sources (uses) - - - 31,577 15,979 -

Net change in fund balances - - (59,885) - - -

Fund balances at beginning of year - - (6,963) - (209) -

Fund balances at end of year -$ -$ (66,848)$ -$ (209)$ -$


B145 B146 B147 B149 B154 B155 B156 B159

OFFICE OF U.S. FLORIDADEPT. OF TOURISM, TRADE, DEPT. OF ENVIRONMENTAL 911 BOATING

HOMELAND AND ECONOMIC ENVIRONMENTAL PROTECTION AFFORDABLE WILLIAMSBURG EMERGENCY ANDSECURITY DEVELOPMENT PROTECTION AGENCY HOUSING WEST MSTU SERVICES IMPROVEMENT

-$ -$ -$ -$ -$ -$ -$ -$ - - - - - 16,344 - - - - - - - - - -

712,024 - - 120,192 - - - - - - - - - - 1,157,575 135,660 - - - - - - - - - - - - 36,739 - 1,020,958 - - - - - - - - - - - - - 1,202 113 13,437 6,269 - - 9,533 - - - 15 -

712,024 - 9,533 120,192 37,941 16,457 2,191,985 141,929

- - - 116,969 - - 75,842 - 712,024 - - - - - 2,063,591 -

- - 62,832 2,443 - 17,795 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 47,977 - - - - - - - - - - - - 100 - - -

- - - -

- - - - - - - - - - - - - - - -

712,024 - 62,832 119,412 100 17,795 2,139,433 47,977

- - (53,299) 780 37,841 (1,338) 52,552 93,952

- - - - - - - - - - - - - (925,954) - - - - - - - (925,954) -

- - (53,299) 780 37,841 (1,338) (873,402) 93,952

- - 998,412 (780) 268,164 21,424 3,917,368 1,490,476

-$ -$ 945,113$ -$ 306,005$ 20,086$ 3,043,966$ 1,584,428$

(Continued)


B160 B161 B163 B165 B168 B170

TRANS- TRANS- TRANS- COURTPORTATION PORTATION PORTATION FACILITIES

U.S. 19 IMPACT FEE IMPACT FEE IMPACT FEE SCHOOL IMPROVEMENTCONCURRENCY WEST CENTRAL EAST IMPACT FEES 939.185 F.S.

REVENUESTaxes -$ -$ -$ -$ -$ -$ Special assessments 4,931 94,276 - 4,661 9,169,755 - Licenses and permits - - - - - - Intergovernmental:

Federal - - - - - - State - - - - - - Local - - - - - -

Charges for services - - - - - 897,523Fines and forfeits - - - - - - Interest and other earnings 4,736 55,290 245,821 33,147 - 37,553Miscellaneous - 1,404,137 - 4,594,278 - -

Total revenues 9,667 1,553,703 245,821 4,632,086 9,169,755 935,076


General government (noncourt-related) - - - - 9,169,755 - Public safety - - - - - - Physical environment - - - - - - Transportation - 2,238,719 1,968,479 5,774,678 - - Economic environment - - - - - - Human services - - - - - - Culture and recreation - - - - - - Court-related - - - - - - Miscellaneous - - - - - -

Capital outlay - - - - - - Debt service:


Total expenditures - 2,238,719 1,968,479 5,774,678 9,169,755 -

Excess (deficiency) of revenues over expenditures 9,667 (685,016) (1,722,658) (1,142,592) - 935,076

OTHER FINANCING SOURCES (USES)Transfers in - - - - - - Transfers out - - - - - -

Total other financing sources (uses) - - - - - -

Net change in fund balances 9,667 (685,016) (1,722,658) (1,142,592) - 935,076

Fund balances at beginning of year 1,165,244 13,033,235 60,342,202 9,807,544 (4,305) 8,729,630

Fund balances at end of year 1,174,911$ 12,348,219$ 58,619,544$ 8,664,952$ (4,305)$ 9,664,706$


B171 B172 b178 B179 B180 B181 B182 B183

ALCOHOLAND MULTI-MODAL LACOOCHEE/ COMBAT PARK PARK PARK

OTHER TEEN TRANS- TRILBY IMPACT IMPACT FEE IMPACT FEE IMPACT FEEDRUG ABUSE COURT PORTATION REDEVELOPMENT FEE WEST CENTRAL EAST

-$ -$ -$ -$ -$ -$ -$ -$ - - - - 847,237 569,409 1,149,986 41,264 - - - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - -

17,209 191,699 - - - - - - - - - - - - - - 2 747 - - 14,962 38,390 22,093 3,222 - - - - - - - -

17,211 192,446 - - 862,199 607,799 1,172,079 44,486

- - - - - - - - - - - - 1,497,537 - - - - - - - - - - - - - 31,996 - - - - - - - - - - - - -

20,710 - - - - - - - - - - - - 1,233,180 2,430,913 21,199 - 261,410 - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - -

20,710 261,410 31,996 - 1,497,537 1,233,180 2,430,913 21,199

(3,499) (68,964) (31,996) - (635,338) (625,381) (1,258,834) 23,287

- - 2,690,914 2,886 - - - - - (144,288) - - - - (2,225,421) - - (144,288) 2,690,914 2,886 - - (2,225,421) -

(3,499) (213,252) 2,658,918 2,886 (635,338) (625,381) (3,484,255) 23,287

937 303,129 635,817 - 4,189,466 9,842,325 6,529,345 628,817

(2,562)$ 89,877$ 3,294,735$ 2,886$ 3,554,128$ 9,216,944$ 3,045,090$ 652,104$

(Continued)


B184 B185 B188 B193 B194

RESCUE HURRICANEIMPACT LIBRARY MITIGATION STORMWATER FOX RIDGE

FEE IMPACT FEE FEE MANAGEMENT MSBU

REVENUESTaxes -$ -$ -$ 11,404$ -$ Special assessments 586,958 278,918 24,318 11,819,729 251,879 Licenses and permits - - - - - Intergovernmental:

Federal - - - - - State - - - - - Local - - - 487,667 -

Charges for services - - - 9,800 - Fines and forfeits - - - - - Interest and other earnings 20,634 9,042 898 64,068 4 Miscellaneous - - - 439,513 -

Total revenues 607,592 287,960 25,216 12,832,181 251,883


General government (noncourt-related) - - - - - Public safety 262,841 - 22,675 - 63,016 Physical environment - - - 93,099 - Transportation - - - 16,103,476 - Economic environment - - - - - Human services - - - - - Culture and recreation - 1,445 - - - Court-related - - - - - Miscellaneous - - - - -

Capital outlay - - - - - Debt service:

Principal - - - - - Interest and debt service charges - - - - -

Total expenditures 262,841 1,445 22,675 16,196,575 63,016

Excess (deficiency) of revenues over expenditures 344,751 286,515 2,541 (3,364,394) 188,867

OTHER FINANCING SOURCES (USES)Transfers in - - - - - Transfers out - - - - -

Total other financing sources (uses) - - - - -

Net change in fund balances 344,751 286,515 2,541 (3,364,394) 188,867

Fund balances at beginning of year 4,844,289 2,045,710 227,096 13,680,845 -

Fund balances at end of year 5,189,040$ 2,332,225$ 229,637$ 10,316,451$ 188,867$


B195 B701

CLERK & SUPERVISORCOMPTROLLER SHERIFF OF ELECTIONS

LIGHTING SPECIAL SPECIAL SPECIALTREE DISTRICTS REVENUE REVENUE REVENUE TOTAL

-$ -$ -$ -$ -$ 57,288,075$ - 3,624,136 - - - 30,598,616 - - - - - 7,132,581

- - - 206,225 4,753 15,359,812 - - 4,699,294 7,205,533 - 41,298,913 - - - 162,097 - 649,764

95,558 - 7,015,308 2,038,804 - 19,415,095 - - 1,727,887 602,724 - 2,569,501

5,997 16,281 3,856 2,468 117 1,484,225 - - 522,742 505,769 - 10,900,241

101,555 3,640,417 13,969,087 10,723,620 4,870 186,696,823

- - 546,680 - 4,753 19,081,537 - - - 10,584,961 - 56,647,879

24,850 - - - - 632,016 - 3,414,247 - - - 68,348,454

118,801 - - - - 7,696,603 - - - - - 4,078,207 - - - - - 4,287,571 - - 14,025,814 - - 14,629,643 - - - - - 5,421,491 - - - - - -

- - - - - - - - - - - -

143,651 3,414,247 14,572,494 10,584,961 4,753 180,823,401

(42,096) 226,170 (603,407) 138,659 117 5,873,422

- - 193,364 - - 10,810,948 - (63,000) - - - (8,011,413) - (63,000) 193,364 - - 2,799,535

(42,096) 163,170 (410,043) 138,659 117 8,672,957

1,495,187 1,817,658 3,716,048 5,298,055 5,687 226,178,477

1,453,091$ 1,980,828$ 3,306,005$ 5,436,714$ 5,804$ 234,851,434$

(Continued)


B226 B230 B231 B233 B234 B235GUARANTEED GUARANTEED

HUD ENTITLEMENT HALF-CENT ENTITLEMENT HALF CENT GUARANTEEDSECTION 108 REFUNDING SALES TAX REFUNDING SALES TAX ENTITLEMENT

NOTE REVENUE BONDS REVENUE BONDS REVENUE BONDS REVENUE BONDS LOANSERIES 2006 SERIES 2003 SERIES 2003 SERIES 2013 SERIES 2013 SERIES 2014 TOTAL

REVENUESTaxes -$ -$ -$ -$ -$ -$ -$Special assessments - - - - - - - Licenses and permits - - - - - - - Intergovernmental:

Federal - - - - - - - State - - - 5,717,167 2,818,974 5,785,364 14,321,505Local - - - - - - -

Charges for services - - - - - - - Fines and forfeits - - - - - - - Interest and other earnings 2,740 - - 33,409 1,735 29,141 67,025Miscellaneous - - - - - - -

Total revenues 2,740 - - 5,750,576 2,820,709 5,814,505 14,388,530


General government (noncourt-related) - - - - - - - Public safety - - - - - - - Physical environment - - - - - - - Transportation - - - - - - Economic environment - - - - - - - Human services - - - - - - - Culture and recreation - - - - - - - Court-related - - - - - - - Miscellaneous - - - - - - -

Capital outlay - - - - - - - Debt service:

Principal 556,000 - - 375,000 1,075,000 560,000 2,566,000Interest and debt service charges 522,277 - - 337,113 1,617,208 390,545 2,867,143

Total expenditures 1,078,277 - - 712,113 2,692,208 950,545 5,433,143

Excess (deficiency) of revenues over expenditures (1,075,537) - - 5,038,463 128,501 4,863,960 8,955,387

OTHER FINANCING SOURCES (USES)Transfers in 1,078,277 - - - - 770 1,079,047Transfers out - - - - - - -

Total other financing sources (uses) 1,078,277 - - - - 770 1,078,277

Net change in fund balances 2,740 - - 5,038,463 128,501 4,864,730 10,034,434

Fund balances at beginning of year 1,141,375 1,049,268 428,248 471,133 (128,501) 692,542 3,654,065

Fund balances at end of year 1,144,115$ 1,049,268$ 428,248$ 5,509,596$ -$ 5,557,272$ 13,688,499$

DEBT SERVICE FUNDS

B300 B301 B311 B312 B313 B314 B326 B330 B331

BOARD MOBILITY MOBILITY MOBILITY TOTALCAPITAL FEE FEE FEE VOPH TOMMY - GUARANTEED HALF-CENT NONMAJOR

PENNY FOR IMPROVE- DISTRICT 1 DISTRICT 2 DISTRICT 3 TRANS- TOWN ENTITLEMENT SALES TAX GOVERNMENTALPASCO MENTS WEST CENTRAL EAST PORTATION CAPITAL CIP CONSTRUCTION TOTAL FUNDS

REVENUESTaxes 22,525,936$ -$ -$ -$ -$ -$ -$ -$ -$ 22,525,936$ 79,814,011$ Special assessments - - - - - - - - - - 30,598,616Licenses and permits - - 2,290,984 3,467,030 6,703,052 - - - - 12,461,066 19,593,647Intergovernmental: -

Federal - - - - - - - - - - 15,359,812State - - - - - - - - - - 55,620,418Local - - - - - - - - - - 649,764

Charges for services - - - - - - - - - - 19,415,095Fines and forfeits - - - - - - - - - - 2,569,501Interest and other earnings 265,422 29,375 43,983 60,744 48,958 - 12,673 4 13,501 474,660 2,025,910Miscellaneous 2,350 107,500 - - 10,833 - - - - 120,683 11,020,924

Total revenues 22,793,708 136,875 2,334,967 3,527,774 6,762,843 - 12,673 4 13,501 35,582,345 236,667,698


General government (noncourt-related) - - - - - - - - - - 19,081,537Public safety - - - - - - - - - - 56,647,879Physical environment - - - - - - - - - - 632,016Transportation - - - - - - - - - - 68,348,454Economic environment - - - - - - - - - - 7,696,603Human services - - - - - - - - - - 4,078,207Culture and recreation - - - - - - - - - - 4,287,571Court-related - - - - - - - - - - 14,629,643Miscellaneous - - - - - - - - - - 5,421,491

Capital outlay 13,756,687 3,813,056 1,635,450 - 328,827 - 296,156 - 399,093 20,229,269 20,229,269Debt service:

Principal - - - - - - - - - - 2,566,000Interest and debt service charges - - - - - - - - - - 2,867,143

Total expenditures 13,756,687 3,813,056 1,635,450 - 328,827 - 296,156 - 399,093 20,229,269 206,485,813

Excess (deficiency) of revenues over expenditures 9,037,021 (3,676,181) 699,517 3,527,774 6,434,016 - (283,483) 4 (385,592) 15,353,076 30,181,885

OTHER FINANCING SOURCES (USES)Transfers in - 4,143,566 4,283 30,000 18,500 139,900 - - - 4,336,249 16,226,244Transfers out (167,835) (197,852) - - - - - - - (365,687) (8,377,100)

Total other financing sources (uses) (167,835) 3,945,714 4,283 30,000 18,500 139,900 - - - 3,970,562 7,849,144

Net change in fund balances 8,869,186 269,533 703,800 3,557,774 6,452,516 139,900 (283,483) 4 (385,592) 19,323,638 38,031,029

Fund balances at beginning of year 62,602,119 6,271,158 8,645,786 12,660,702 7,221,756 30,169 4,382,961 1,091 3,576,649 105,392,391 335,224,933

Fund balances at end of year 71,471,305$ 6,540,691$ 9,349,586$ 16,218,476$ 13,674,272$ 170,069$ 4,099,478$ 1,095$ 3,191,057$ 124,716,029$ 373,255,962$

CAPITAL PROJECTS FUNDS

VARIANCE WITHBUDGETED AMOUNTS FINAL BUDGET

POSITIVEORIGINAL FINAL ACTUAL (NEGATIVE)

REVENUESTaxes 5,320,000$ 5,320,000$ 5,136,089$ (183,911)$Licenses and permits 1,408,616 1,408,616 1,907,222 498,606Intergovernmental:

State 13,268,211 13,268,211 10,794,862 (2,473,349)Charges for services 2,046,326 2,046,326 3,554,473 1,508,147Fines and forfeitures 689 689 5,425 4,736 Interest and other earnings 78,742 78,742 87,916 9,174Miscellaneous 96,280 156,825 75,970 (80,855)

Total revenues 22,218,864 22,279,409 21,561,957 (717,452)


General government (noncourt-related) 6,656,208 6,694,875 6,350,561 344,314Public safety 6,076,294 6,259,842 5,735,375 524,467Physical environment 422,472 422,472 366,120 56,352Transportation 1,218,660 1,219,945 1,289,758 (69,813)Economic environment 114,881 114,881 91,182 23,699Human services 2,275,925 2,330,170 2,038,584 291,586Miscellaneous 3,292,142 3,298,442 3,293,914 4,528

Total expenditures 20,056,582 20,340,627 19,165,494 1,175,133

Excess (deficiency) ofrevenues over expenditures 2,162,282 1,938,782 2,396,463 457,681

OTHER FINANCING SOURCES (USES)Transfers in 820,000 925,954 925,954 - Transfers out (3,216,305) (3,218,805) (3,187,022) 31,783

Total other financing sources (uses) (2,396,305) (2,292,851) (2,261,068) 31,783

Net change in fund balances (234,023) (354,069) 135,395 489,464

Fund balances at beginning of year 234,023 354,069 6,746,263 6,392,194

Fund balances at end of year -$ -$ 6,881,658$ 6,881,658$




REVENUESTaxes 7,668,422$ 7,668,422$ 5,682,523$ (1,985,899)$Interest and other earnings 66,612 66,612 102,474 35,862Miscellaneous 64,671 64,671 632,321 567,650

Total revenues 7,799,705 7,799,705 6,417,318 (1,382,387)


Transportation 19,288,385 25,587,290 5,421,739 20,165,551Human services 395,697 910,546 318,256 592,290


Excess (deficiency) ofrevenues over expenditures (11,884,377) (18,698,131) 677,323 19,375,454

Net change in fund balances (11,884,377) (18,698,131) 677,323 19,375,454

Fund balances at beginning of year 11,884,377 18,698,131 23,757,677 5,059,546




REVENUESTaxes 142,500$ 142,500$ 159,275$ 16,775$ Licenses and permits 4,215,219 4,215,219 5,225,359 1,010,140Charges for services 1,895,720 1,895,720 2,709,910 814,190Fines and forfeitures 61,750 61,750 46,716 (15,034)Interest and other earnings 6,650 6,650 22,910 16,260Miscellaneous 153,606 153,606 234,707 81,101

Total revenues 6,475,445 6,475,445 8,398,877 1,923,432


General government (noncourt-related) 1,550,425 1,320,881 1,248,331 72,550Public safety 6,150,489 6,602,621 4,532,713 2,069,908Miscellaneous 1,073,908 1,079,908 1,078,516 1,392


Excess (deficiency) ofrevenues over expenditures (2,299,377) (2,527,965) 1,539,317 4,067,282

Net change in fund balances (2,299,377) (2,527,965) 1,539,317 4,067,282






REVENUESCharges for services 70,110$ 70,110$ 70,453$ 343$ Interest and other earnings 95 95 125 30

Total revenues 70,205 70,205 70,578 373


Court-related 85,670 85,670 71,214 14,456Total expenditures 85,670 85,670 71,214 14,456

Excess (deficiency) ofrevenues over expenditures (15,465) (15,465) (636) 14,829

Net change in fund balances (15,465) (15,465) (636) 14,829

Fund balances at beginning of year 15,465 15,465 32,460 16,995

Fund balances at end of year -$ -$ 31,824$ 31,824$




REVENUESCharges for services 66,310$ 66,310$ 62,954$ (3,356)$ Interest and other earnings 105 105 84 (21)

Total revenues 66,415 66,415 63,038 (3,377)


Court-related 82,649 82,649 77,523 5,126 Total expenditures 82,649 82,649 77,523 5,126

Excess (deficiency) ofrevenues over expenditures (16,234) (16,234) (14,485) 1,749

Net change in fund balances (16,234) (16,234) (14,485) 1,749






REVENUESTaxes 13,289,550$ 13,289,550$ 13,953,729$ 664,179$Special assessments - - 1,296 1,296 Intergovernmental:

State 5,462,500 5,462,500 6,147,408 684,908Charges for services 480,870 480,870 560,063 79,193Interest and other earnings 7,125 7,125 45,079 37,954Miscellaneous 8,740 8,740 82,472 73,732

Total revenues 19,248,785 19,248,785 20,790,047 1,541,262


Transportation 18,893,266 19,840,266 13,056,717 6,783,549Miscellaneous 929,424 929,424 929,424 -


Excess (deficiency) ofrevenues over expenditures (573,905) (1,520,905) 6,803,906 8,324,811

OTHER FINANCING SOURCESTransfers in 3,184,522 3,184,522 3,184,522 - Transfers out (334,668) (334,668) (334,668) -

Total other financing sources (uses) 2,849,854 2,849,854 2,849,854 -

Net change in fund balances 2,275,949 1,328,949 9,653,760 8,324,811

Fund balances at beginning of year (2,275,949) (1,328,949) 6,795,975 8,124,924





REVENUESFines and forfeitures 180,500$ 180,500$ 186,749$ 6,249$ Interest and other earnings 190 190 2,634 2,444

Total revenues 180,690 180,690 189,383 8,693


Public safety 663,142 663,142 203,209 459,933Total expenditures 663,142 663,142 203,209 459,933








REVENUESTaxes 741,000$ 741,000$ 980,061$ 239,061$Interest and other earnings 23,750 23,750 45,911 22,161Miscellaneous - - 74 74

Total revenues 764,750 764,750 1,026,046 261,296


Economic environment 827,869 827,869 713,516 114,353Culture and recreation 8,845,230 9,070,230 543,980 8,526,250


Excess (deficiency) ofrevenues over expenditures (8,908,349) (9,133,349) (231,450) 8,901,899

OTHER FINANCING SOURCES (USES)Transfers in - 2,225,421 2,225,421






REVENUESSpecial assessments 1,995,000$ 1,995,000$ 1,833,883$ (161,117)$Interest and other earnings 332,500 332,500 425,640 93,140

Total revenues 2,327,500 2,327,500 2,259,523 (67,977)


Transportation 4,242,714 9,405,102 2,705,797 6,699,305Economic environment - - 32 (32)



OTHER FINANCING SOURCES (USES)Transfers in 334,668 334,668 334,668 -

Total other financing sources (uses) 334,668 334,668 334,668 -

Net change in fund balances (1,580,546) (6,742,934) (111,638) 6,631,296






REVENUESCharges for services 251,750$ 251,750$ 252,961$ 1,211$ Interest and other earnings 3,800 3,800 8,045 4,245

Total revenues 255,550 255,550 261,006 5,456


General government (noncourt-related) 266,052 313,275 265,383 47,892Public safety 216,593 220,133 41,643 178,490Miscellaneous 488 488 488 -

Total expenditures 483,133 533,896 307,514 226,382








REVENUESSpecial assessments 6,726$ 6,726$ 6,867$ 141$ Interest and other earnings 285 285 249 (36)

Total revenues 7,011 7,011 7,116 105


Transportation 29,471 29,471 8,919 20,552Total expenditures 29,471 29,471 8,919 20,552








REVENUESTaxes 30,727,363$ 30,727,363$ 31,364,994$ 637,631$Intergovernmental:

State 38,000 38,000 40,064 2,064 Charges for services - - 158 158 Interest and other earnings 11,400 11,400 65,732 54,332Miscellaneous 2,375 2,375 2,290 (85)

Total revenues 30,779,138 30,779,138 31,473,238 694,100


Public safety 30,495,382 30,692,769 29,014,323 1,678,446Total expenditures 30,495,382 30,692,769 29,014,323 1,678,446

Excess (deficiency) ofrevenues over expenditures 283,756 86,369 2,458,915 2,372,546

Net change in fund balances 283,756 86,369 2,458,915 2,372,546

Fund balances at beginning of year (283,756) (86,369) 4,633,555 4,719,924





REVENUESSpecial assessments 71,000$ 71,000$ 272,769$ 201,769$Intergovernmental:

Federal 3,867,344 4,869,521 2,931,285 (1,938,236)Charges for services 32,000 32,000 28,042 (3,958) Interest and other earnings 39,000 39,000 33,811 (5,189) Miscellaneous 25,000 25,000 27,405 2,405

Total revenues 4,034,344 5,036,521 3,293,312 (1,743,209)


General government (noncourt-related) 714,838 714,839 584,930 129,909Physical environment 83,163 120,000 64,877 55,123Transportation 217,000 217,000 216,999 1 Economic environment 1,550,364 2,461,194 1,119,050 1,342,144Human services 270,702 325,211 229,179 96,032


Excess (deficiency) ofrevenues over expenditures 1,198,277 1,198,277 1,078,277 (120,000)

OTHER FINANCING SOURCES (USES)Transfers out (1,078,277) (1,078,277) (1,078,277) -

Net change in fund balances 120,000 120,000 - (120,000)

Fund balances at beginning of year (120,000) (120,000) - 120,000

Fund balances at end of year -$ -$ -$ -$




REVENUESIntergovernmental: Federal 1,749,901$ 1,749,901$ 1,463,992$ (285,909)$Interest and other earnings 10,000 10,000 15,810 5,810 Miscellaneous 500,000 500,000 596,448 96,448

Total revenues 2,259,901 2,259,901 2,076,250 (183,651)


Economic environment 2,259,901 2,259,901 2,021,301 238,600Miscellaneous - - 54,949 (54,949)

Total expenditures 2,259,901 2,259,901 2,076,250 183,651

Excess (deficiency) ofrevenues over expenditures - - - -

Fund balances at beginning of year - - - -





REVENUESIntergovernmental: State -$ 8,877$ 8,877$ -$

Total revenues - 8,877 8,877 -


Culture and recreation - 8,877 8,877 - Total expenditures - 8,877 8,877 -


Net change in fund balances - - - -






REVENUESCharges for services 927,040$ 927,040$ 834,746$ (92,294)$Miscellaneous 140,000 140,000 169,260 29,260

Total revenues 1,067,040 1,067,040 1,004,006 (63,034)


Transportation 1,067,040 1,067,040 1,063,891 3,149 Total expenditures 1,067,040 1,067,040 1,063,891 3,149

Excess (deficiency) ofrevenues over expenditures - - (59,885) (59,885)

Net change in fund balances - - (59,885) (59,885)

Fund balances (deficit) at beginning of year - - (6,963) (6,963)

Fund balances (deficit) at end of year -$ -$ (66,848)$ (66,848)$




REVENUESIntergovernmental: State -$ 75,900$ 70,419$ (5,481)$

Total revenues - 75,900 70,419 (5,481)


Public safety - 91,879 86,398 5,481 Total expenditures - 91,879 86,398 5,481

Excess (deficiency) ofrevenues over expenditures - (15,979) (15,979) -

OTHER FINANCING SOURCES (USES)Transfers in - - 15,979 15,979

Total other financing sources (uses) - - 15,979 15,979

Net change in fund balances - (15,979) - 15,979

Fund balances at beginning of year - 15,979 (209) (16,188)

Fund balances at end of year -$ -$ (209)$ (209)$




REVENUESCharges for services 15,000$ 15,000$ 36,739$ 21,739$ Interest and other earnings - - 1,202 1,202

Total revenues 15,000 15,000 37,941 22,941


Economic environment 50,000 80,000 - 80,000Miscellaneous - - 100 (100)

Total expenditures 50,000 80,000 100 79,900

Excess (deficiency) of revenues over expenditures (35,000) (65,000) 37,841 102,841







REVENUESSpecial assessments 16,080$ 16,080$ 16,344$ 264$ Interest and other earnings 68 68 113 45

Total revenues 16,148 16,148 16,457 309


Physical environment 26,964 26,964 17,795 9,169 Total expenditures 26,964 26,964 17,795 9,169








REVENUESIntergovernmental:

State 1,147,615$ 1,147,615$ 1,157,575$ 9,960$ Charges for services 985,397 985,397 1,020,958 35,561Interest and other earnings 9,500 9,500 13,437 3,937 Miscellaneous - - 15 15

Total revenues 2,142,512 2,142,512 2,191,985 49,473


General government (noncourt-related) - 218,587 75,842 142,745Public safety 1,370,675 2,109,023 2,063,591 45,432


Excess (deficiency) ofrevenues over expenditures 771,837 (185,098) 52,552 237,650

OTHER FINANCING SOURCES (USES)Transfers out (820,000) (925,954) (925,954) -

Total other financing sources (uses) (820,000) (925,954) (925,954) -

Net change in fund balances (48,163) (1,111,052) (873,402) 237,650

Fund balances at beginning of year 48,163 1,111,052 3,917,368 2,806,316






State 114,000$ 114,000$ 135,660$ 21,660$ Interest and other earnings 5,320 5,320 6,269 949

Total revenues 119,320 119,320 141,929 22,609


Culture and recreation 613,984 613,984 47,977 566,007Total expenditures 613,984 613,984 47,977 566,007

Excess (deficiency) ofrevenues over expenditures (494,664) (494,664) 93,952 588,616


Fund balances at beginning of year 494,664 494,664 1,490,476 995,812



VARIANCE WITHFINAL BUDGET


REVENUESSpecial assessments -$ -$ 4,931$ 4,931$ Interest and other earnings 2,375 2,375 4,736 2,361

Total revenues 2,375 2,375 9,667 7,292

EXPENDITURESTotal expenditures - - - -

Excess (deficiency) ofrevenues over expenditures 2,375 2,375 9,667 7,292

Net change in fund balances 2,375 2,375 9,667 7,292




BUDGETED AMOUNTS



REVENUESSpecial assessments -$ -$ 94,276$ 94,276$ Interest and other earnings 66,134 66,134 55,290 (10,844)Miscellaneous - - 1,404,137 1,404,137

Total revenues 66,134 66,134 1,553,703 1,487,569


Transportation 2,202,716 4,378,819 2,238,719 2,140,100Total expenditures 2,202,716 4,378,819 2,238,719 2,140,100








REVENUESInterest and other earnings 281,190$ 281,190$ 245,821$ (35,369)$Miscellaneous 58,319 58,319 - (58,319)

Total revenues 339,509 339,509 245,821 (93,688)


Transportation 14,961,310 16,321,284 1,968,479 14,352,805Total expenditures 14,961,310 16,321,284 1,968,479 14,352,805

Excess (deficiency) ofrevenues over expenditures (14,621,801) (15,981,775) (1,722,658) 14,259,117

Net change in fund balances (14,621,801) (15,981,775) (1,722,658) 14,259,117






REVENUESSpecial assessments -$ -$ 4,661$ 4,661$ Interest and other earnings 46,611 46,611 33,147 (13,464)Miscellaneous 750,000 750,000 4,594,278 3,844,278

Total revenues 796,611 796,611 4,632,086 3,835,475


Transportation 3,992,222 8,075,640 5,774,678 2,300,962Human services - 247,788 - 247,788









REVENUESSpecial assessments 6,720,000$ 9,844,018$ 9,169,755$ (674,263)$

Total revenues 6,720,000 9,844,018 9,169,755 (674,263)


General government (noncourt-related) 6,720,000 9,844,018 9,169,755 674,263Total expenditures 6,720,000 9,844,018 9,169,755 674,263


Net change in fund balances - - - -

Fund balances at beginning of year - - (4,305) (4,305)

Fund balances at end of year -$ -$ (4,305)$ (4,305)$




REVENUESCharges for services 950,000$ 950,000$ 897,523$ (52,477)$Interest and other earnings 16,150 16,150 37,553 21,403

Total revenues 966,150 966,150 935,076 (31,074)


Excess (deficiency) ofrevenues over expenditures 966,150 966,150 935,076 (31,074)

Net change in fund balances 966,150 966,150 935,076 (31,074)






REVENUESCharges for services 16,435$ 16,435$ 17,209$ 774$ Interest and other earnings 4,275 4,275 2 (4,273)

Total revenues 20,710 20,710 17,211 (3,499)


Human services 20,710 20,710 20,710 - Total expenditures 20,710 20,710 20,710 -

Excess (deficiency) ofrevenues over expenditures - - (3,499) (3,499)

Net change in fund balances - - (3,499) (3,499)

Fund balances at beginning of year - - 937 937

Fund balances at end of year -$ -$ (2,562)$ (2,562)$




REVENUESCharges for services 210,000$ 210,000$ 191,699$ (18,301)$Interest and other earnings 1,300 1,300 747 (553)

Total revenues 211,300 211,300 192,446 (18,854)


Court-related 365,046 366,888 261,410 105,478Total expenditures 365,046 366,888 261,410 105,478



Total other financing sources (uses) (56,500) (144,288) (144,288) -







REVENUESTaxes -$ -$ -$ -$ Interest and other earnings - - - -

Total revenues - - - -


Public safety - - - - Transportation - - - - Culture and recreation - - - -

Total expenditures - - - -


OTHER FINANCING SOURCES (USES)Transfers in 3,146 3,146 2,886 (260)

Total other financing sources (uses) 3,146 3,146 2,886 (260)

Net change in fund balances 3,146 3,146 2,886 (260)

Fund balances at beginning of year (3,146) (3,146) - 3,146





REVENUESSpecial assessments 310,007$ 310,007$ 847,237$ 537,230$Interest and other earnings 4,638 4,638 14,962 10,324

Total revenues 314,645 314,645 862,199 547,554


Public safety 2,753,638 4,347,833 1,497,537 2,850,296Miscellaneous 1,200 1,200 - 1,200




Fund balances at beginning of year 2,440,193 4,034,388 4,189,466 155,078





REVENUESSpecial assessments 315,592$ 315,592$ 569,409$ 253,817$Interest and other earnings 83,879 83,879 38,390 (45,489)

Total revenues 399,471 399,471 607,799 208,328


Culture and recreation 9,227,364 9,752,797 1,233,180 8,519,617Miscellaneous 1,500 1,500 - 1,500









REVENUESSpecial assessments 366,140$ 366,140$ 1,149,986$ 783,846$Interest and other earnings 10,169 10,169 22,093 11,924

Total revenues 376,309 376,309 1,172,079 795,770


Culture and recreation 4,666,439 4,353,562 2,430,913 1,922,649Miscellaneous 1,500 1,500 - 1,500



OTHER FINANCING SOURCES (USES)Transfers out - (2,225,421) (2,225,421) -

Total other financing sources (uses) - (2,225,421) (2,225,421) -







REVENUESSpecial assessments 71,538$ 71,538$ 41,264$ (30,274)$Interest and other earnings 5,066 5,066 3,222 (1,844)

Total revenues 76,604 76,604 44,486 (32,118)


Culture and recreation 608,395 693,814 21,199 672,615Miscellaneous 1,500 1,500 - 1,500










Total revenues 223,304 223,304 607,592 384,288


Public safety 4,544,391 4,840,112 262,841 4,577,271Miscellaneous 1,200 1,200 - 1,200

Total expenditures 4,545,591 4,841,312 262,841 4,578,471









Total revenues 98,540 98,540 287,960 189,420


Culture and recreation 2,073,708 2,073,708 1,445 2,072,263Miscellaneous 550 550 - 550

Total expenditures 2,074,258 2,074,258 1,445 2,072,813








REVENUESSpecial assessments 46,861$ 46,861$ 24,318$ (22,543)$Interest and other earnings 349 349 898 549

Total revenues 47,210 47,210 25,216 (21,994)


Public safety - 22,675 22,675 - Total expenditures - 22,675 22,675 -

Excess (deficiency) ofrevenues over expenditures 47,210 24,535 2,541 (21,994)


Fund balances at beginning of year (47,210) (24,535) 227,096 251,631





REVENUESTaxes -$ -$ 11,404$ 11,404$ Special assessments 11,608,237 11,608,237 11,819,729 211,492Intergovernmental:

Local - - 487,667 487,667Charges for services 18,050 18,050 9,800 (8,250) Interest and other earnings 73,140 73,140 64,068 (9,072) Miscellaneous 1,406,501 1,406,501 439,513 (966,988)

Total revenues 13,105,928 13,105,928 12,832,181 (273,747)


Public safety 100,000 100,000 - 100,000Physical environment 1,100,000 1,030,000 93,099 936,901Transportation 18,272,885 23,791,176 16,103,476 7,687,700









REVENUESSpecial assessments 247,106$ 247,106$ 251,879$ 4,773$ Interest and other earnings - - 4 4

Total revenues 247,106 247,106 251,883 4,777


Public safety 247,106 247,106 63,016 184,090 Total expenditures 247,106 247,106 63,016 184,090

Debt service:Principal $ $ $ $Interest and debt service charges - - - -Total debt service -$ -$ -$ -$Excess (deficiency) of

revenues over expenditures - - 188,867 188,867

Net change in fund balances - - 188,867 188,867






REVENUESCharges for services 9,500$ 9,500$ 95,558$ 86,058$ Interest and other earnings 1,541 1,541 5,997 4,456

Total revenues 11,041 11,041 101,555 90,514


Physical environment 50,000 50,000 24,850 25,150Transportation 40,000 40,000 - 40,000Economic environment 129,401 188,802 118,801 70,001









REVENUESSpecial assessments 3,591,880$ 3,591,880$ 3,624,136$ 32,256$ Charges for services 7,182 7,182 - (7,182) Interest and other earnings 14,122 14,122 16,281 2,159 Miscellaneous 30,472 30,472 - (30,472)

Total revenues 3,643,656 3,643,656 3,640,417 (3,239)


Transportation 3,556,366 3,556,366 3,414,247 142,119Total expenditures 3,556,366 3,556,366 3,414,247 142,119









REVENUESInterest and other earnings 200$ 200$ 2,740$ 2,540$

Total revenues 200 200 2,740 2,540

EXPENDITURESDebt service:

Principal 556,000 556,000 556,000 - Interest and debt service charges 522,477 522,477 522,277 200

Total debt service 1,078,477 1,078,477 1,078,277 200

Excess (deficiency) ofrevenues over expenditures (1,078,277) (1,078,277) (1,075,537) 2,740

OTHER FINANCING SOURCES (USES)Transfers in 1,078,277 1,078,277 1,078,277 -

Total other financing sources (uses) 1,078,277 1,078,277 1,078,277 -

Net change in fund balances - - 2,740 2,740

Fund balances at beginning of year - - 1,141,375 1,141,375






State 3,650,939$ 3,650,939$ 5,717,167$ 2,066,228$Interest and other earnings 1,140 1,140 33,409 32,269

Total revenues 3,652,079 3,652,079 5,750,576 2,098,497


Principal 375,000 375,000 375,000 - Interest and debt service charges 336,594 337,134 337,113 21

Total debt service 711,594 712,134 712,113 21

Excess (deficiency) ofrevenues over expenditures 2,940,485 2,939,945 5,038,463 2,098,518

OTHER FINANCING SOURCES (USES)Transfers out (2,968,480) (2,968,480) - 2,968,480

Total other financing sources (uses) (2,968,480) (2,968,480) - 2,968,480

Net change in fund balances (27,995) (28,535) 5,038,463 5,066,998







State -$ -$ 2,818,974$ 2,818,974$Interest and other earnings 1,200 1,200 1,735 535

Total revenues 1,200 1,200 2,820,709 2,819,509


Principal 1,075,000 1,075,000 1,075,000 - Interest and debt service charges 1,617,588 1,617,588 1,617,208 380

Total debt service 2,692,588 2,692,588 2,692,208 380


OTHER FINANCING SOURCES (USES)Transfers in 2,713,262 2,713,262 - (2,713,262)Transfers out (10,000) (10,000) - 10,000

Total other financing sources (uses) 2,703,262 2,703,262 - (2,703,262)


Fund balances at beginning of year (11,874) (11,874) (128,501) (116,627)






State 4,655,000$ 4,655,000$ 5,785,364$ 1,130,364$ Interest and other earnings 1,140 1,140 29,141 28,001

Total revenues 4,656,140 4,656,140 5,814,505 1,158,365


Principal 560,000 560,000 560,000 - Interest and debt service charges 389,775 390,545 390,545 -

Total debt service 949,775 950,545 950,545 -

Excess (deficiency) ofrevenues over expenditures 3,706,365 3,705,595 4,863,960 1,158,365

OTHER FINANCING SOURCES (USES)Transfers in - 770 770 - Transfers out (3,669,514) (3,669,514) - 3,669,514

Total other financing sources (uses) (3,669,514) (3,668,744) 770 3,669,514

Net change in fund balances 36,851 36,851 4,864,730 4,827,879

Fund balances at beginning of year (36,851) (36,851) 692,542 729,393





REVENUESTaxes 20,865,393$ 20,865,393$ 22,525,936$ 1,660,543$Interest and other earnings 187,789 187,789 265,422 77,633Miscellaneous 374,894 374,894 2,350 (372,544)

Total revenues 21,428,076 21,428,076 22,793,708 1,365,632

EXPENDITURESCapital outlay:

Public safety 53,300,497 56,900,819 5,001,978 51,898,841Physical environment - - 46,121 (46,121)Transportation 18,071,766 24,133,403 8,606,477 15,526,926Human services 2,486,000 2,225,000 49,400 2,175,600Culture and recreation - 69,996 52,711 17,285

Total capital outlay 73,858,263 83,329,218 13,756,687 69,572,531

Excess (deficiency) ofrevenues over expenditures (52,430,187) (61,901,142) 9,037,021 70,938,163

OTHER FINANCING SOURCES (USES)Transfers out - - (167,835) (167,835) Bond Proceeds 15,392,000 15,392,000 - (15,392,000)

Total other financing sources (uses) 15,392,000 15,392,000 (167,835) (15,559,835)







REVENUESInterest and other earnings 14,260$ 14,260$ 29,375$ 15,115$ Miscellaneous - - 107,500 107,500

Total revenues 14,260 14,260 136,875 122,615


General government (noncourt-related) 1,870,786 3,317,819 3,354,913 (37,094)Public safety 4,000,131 4,029,460 250,301 3,779,159Culture and recreation 150,816 237,325 207,842 29,483Court-related - 54,090 - 54,090

Total capital outlay 6,021,733 7,638,694 3,813,056 3,825,638


OTHER FINANCING SOURCES (USES)Transfers in 1,143,566 2,958,379 4,143,566 1,185,187Transfers out - (197,852) (197,852) -

Total other financing sources (uses) 1,143,566 2,760,527 3,945,714 1,185,187







REVENUESLicenses and permits 2,340,520$ 2,340,520$ 2,290,984$ (49,536)$ Interest and other earnings 35,383 35,383 43,983 8,600

Total revenues 2,375,903 2,375,903 2,334,967 (40,936)


Transportation 2,327,183 2,327,183 1,635,450 691,733 Total capital outlay 2,327,183 2,327,183 1,635,450 691,733










REVENUESLicenses and permits 3,485,340$ 3,485,340$ 3,467,030$ (18,310)$ Interest and other earnings 55,110 55,110 60,744 5,634

Total revenues 3,540,450 3,540,450 3,527,774 (12,676)


Excess (deficiency) ofrevenues over expenditures 3,540,450 3,540,450 3,527,774 (12,676)



Net change in fund balances 3,540,450 3,540,450 3,557,774 17,324

Fund balances at beginning of year (3,540,450) (3,540,450) 12,660,702 16,201,152





REVENUESLicenses and permits 2,878,256$ 2,878,256$ 6,703,052$ 3,824,796$ Interest and other earnings 36,154 36,154 48,958 12,804Miscellaneous - - 10,833 10,833

Total revenues 2,914,410 2,914,410 6,762,843 3,848,433


Transportation 1,907,213 1,981,513 328,827 1,652,686Total capital outlay 1,907,213 1,981,513 328,827 1,652,686

Excess (deficiency) ofrevenues over expenditures 1,007,197 932,897 6,434,016 5,501,119



Net change in fund balances 1,007,197 932,897 6,452,516 5,519,619

Fund balances at beginning of year (1,007,197) (932,897) 7,221,756 8,154,653





REVENUESTaxes 571,351$ 571,351$ -$ (571,351)$Interest and other earnings 147 147 - (147)

Total revenues 571,498 571,498 - (571,498)


Excess (deficiency) ofrevenues over expenditures 571,498 571,498 - (571,498)

OTHER FINANCING SOURCES (USES)Transfers in 142,737 142,737 139,900 (2,837)

Total other financing sources (uses) 142,737 142,737 139,900 (2,837)


Fund balances at beginning of year - - 30,169 30,169

Fund balances at end of year 714,235$ 714,235$ 170,069$ (544,166)$




REVENUESInterest and other earnings -$ -$ 12,673$ 12,673$

Total revenues - - 12,673 12,673


Economic environment 2,427,771 2,427,771 296,156 2,131,615Total capital outlay 2,427,771 2,427,771 296,156 2,131,615








REVENUESInterest and other earnings -$ -$ 13,501$ 13,501$

Total revenues - - 13,501 13,501


General government (noncourt-related) - 226,356 195,303 31,053Human services 21,041 57,021 50,692 6,329 Culture and recreation 2,700,000 2,850,552 153,098 2,697,454

Total capital outlay 2,721,041 3,133,929 399,093 2,734,836






COUNTY CLERK & SHERIFF'SEQUIPMENT COUNTY SELF COMPTROLLER'S HEALTH

SERVICE INSURANCE INSURANCE INSURANCE INSURANCE TOTALSASSETSCurrent assets: Cash and cash equivalents 14,599,242$ 13,385,086$ 6,724,531$ 5,361,277$ 4,425,774$ 44,495,910$ Investments 11,524,268 10,565,843 5,308,172 - - 27,398,283 Accounts receivable, net 19,595 2,624 - - - 22,219 Due from other funds - - - - 617,156 617,156 Due from other governments 9,397 - - - - 9,397 Inventories 207,538 - - - - 207,538 Other - 481,000 - 138,500 - 619,500 Total current assets 26,360,040 24,434,553 12,032,703 5,499,777 5,042,930 73,370,003

Capital assets: Land 1,889,479 - - - - 1,889,479 Buildings 2,368,321 - - - - 2,368,321 Improvements other than buildings 2,326,545 - - - - 2,326,545 Equipment 68,193,433 - - - - 68,193,433 Less accumulated depreciation (51,220,147) - - - - (51,220,147) Capital assets, net 23,557,631 - - - - 23,557,631

Total assets 49,917,671 24,434,553 12,032,703 5,499,777 5,042,930 96,927,634

DEFERRED OUTFLOWS OF RESOURCES Deferred amounts on pension 221,784 - - - - 221,784 Total deferred outflows of resources 221,784 - - - - 221,784

LIABILITIESCurrent liabilities: Vouchers payable 1,117,247 789,928 1,492,762 - 1,856,708 5,256,645 Accrued liabilities 59,439 7,726 - - - 67,165 Claims payable - 3,200,645 1,282,273 401,024 891,000 5,774,942 Due to other funds - - - - 104,710 104,710 Unearned revenue - - 63,912 - - 63,912 Compensated absences 12,802 2,846 - - - 15,649 Total current liabilities 1,189,488 4,001,146 2,838,947 401,024 2,852,418 11,283,023

Noncurrent liabilities: Claims payable - 7,685,903 - - - 7,685,903 Advances from other funds - - - - 1,534,000 1,534,000 Compensated absences 147,228 32,734 - - - 179,961 Net pension liability 1,174,634 - - - - 1,174,634 Total noncurrent liabilities 1,321,862 7,718,636 - - 1,534,000 10,574,498

Total liabilities 2,511,350 11,719,782 2,838,947 401,024 4,386,418 21,857,521

DEFERRED INFLOWS OF RESOURCES Deferred amounts on pension 252,859 - - - - 252,859 Total deferred inflows of resources 252,859 - - - - 252,859

NET POSITION Net investment in capital assets 23,557,631 - - - - 23,557,631 Unrestricted 23,817,615 12,714,771 9,193,756 5,098,753 656,512 51,481,407

Total net position 47,375,246$ 12,714,771$ 9,193,756$ 5,098,753$ 656,512$ 75,039,038$



SERVICE INSURANCE INSURANCE INSURANCE INSURANCE TOTALS

OPERATING REVENUES Charges for services 17,698,523$ 9,792,731$ 20,011,399$ 3,170,738$ 10,920,638$ 61,594,029$

OPERATING EXPENSES Personal services 1,943,913 287,509 - - - 2,231,422 Contractual services 1,173,774 8,244,983 16,075,501 4,082,704 - 29,576,962 Health Insurance - - - - 9,134,111 9,134,111 Current charges/stop loss fees - - - - 1,695,804 1,695,804 Travel 580 - - - - 580 Materials and supplies 5,561,031 3,586 23,044 - - 5,587,661 Heat, light and power 49,032 - 2,316 - - 51,348 Equipment rental and maintenance 776,731 1,087 56,049 - - 833,867 Communications 8,302 - 2,018 - - 10,320 Administrative charge from General Fund 385,018 268,792 2,013,365 - - 2,667,175 Depreciation 6,006,865 - - - - 6,006,865 Total operating expenses 15,905,246 8,805,957 18,172,293 4,082,704 10,829,915 57,796,115

Operating income (loss) 1,793,277 986,774 1,839,106 (911,966) 90,723 3,797,914

NONOPERATING REVENUES (EXPENSES) Interest and other earnings 101,426 87,837 41,656 4,158 941 236,018 Miscellaneous (578,585) - - - - (578,585) Total nonoperating revenues (expenses) (477,159) 87,837 41,656 4,158 941 (342,567)

Income (loss) before contributions 1,316,118 1,074,611 1,880,762 (907,808) 91,664 3,455,347

Capital contributions 20,008 - - - - 20,008

Transfers in - - - 1,343,642 564,848 1,908,490

Change in net position 1,336,126 1,074,611 1,880,762 435,834 656,512 5,383,845

Net position, October 1, 2014, as restated-Note 21 46,039,120 11,640,160 7,312,994 4,662,919 - 69,655,193

Net position - September 30, 2015 47,375,246$ 12,714,771$ 9,193,756$ 5,098,753$ 656,512$ 75,039,038$




CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers -$ 780,566$ 393,779$ 355,595$ -$ 1,529,940$ Receipts from employees - - 1,338,408 558,060 - 1,896,468 Receipts from interfund services provided 17,693,291 9,012,165 18,284,139 2,257,083 10,303,482 57,550,160 Payments to suppliers for goods and services (7,172,241) (7,825,253) (16,378,579) (4,090,835) (7,977,497) (43,444,405) Payments for interfund services used (1,126,829) (268,792) (2,013,365) - - (3,408,986) Payments for personal services (2,106,902) (307,210) - - - (2,414,112) Net cash provided by (used in) operating activities 7,287,319 1,391,476 1,624,382 (920,097) 2,325,985 11,709,065

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Other nonoperating receipts - - - - 1,534,000 1,534,000 Transfers in (out) - - - 1,343,642 564,848 1,908,490 Net cash provided by noncapital financing activities - - - 1,343,642 2,098,848 3,442,490

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proceeds from sale of assets 660,904 - - - - 660,904 Acquisition of capital assets (4,221,553) - - - - (4,221,553) Net cash used for capital and related financing activities (3,560,649) - - - - (3,560,649)

CASH FLOWS FROM INVESTING ACTIVITIESPurchases of investments/securities (10,330,806) (9,362,949) (4,753,250) - - (24,447,005) Investment income 101,426 87,837 41,656 4,158 941 236,018 Net cash provided by (used for) investing activities (10,229,380) (9,275,112) (4,711,594) 4,158 941 (24,210,987)

Net increase (decrease) in cash and cash equivalents (6,502,710) (7,883,636) (3,087,212) 427,703 4,425,774 (12,620,081)

Cash and cash equivalents at October 1, 2014 21,101,952 21,268,722 9,811,743 4,933,574 - 57,115,991

Cash and cash equivalents at September 30, 2015 14,599,242$ 13,385,086$ 6,724,531$ 5,361,277$ 4,425,774$ 44,495,910$




Reconciliation of operating income (loss) to net cash provided by (used in) operating activities: Operating income (loss) 1,793,277$ 986,774$ 1,839,106$ (911,966)$ 90,723$ 3,797,914$

Adjustments to reconcile operating income (loss) to net cash provided by (used in) operating activities: Depreciation 6,006,865 - - - - 6,006,865 Changes in assets and liabilities: (Increase) decrease in accounts receivable (5,232) - - - - (5,232) (Increase) decrease in due from other governments (229) - - - - (229) (Increase) decrease in due to/from other funds - - - - (512,446) (512,446) (Increase) in other assets - - - (6,086) - (6,086) Increase (decrease) in vouchers payable (344,373) 435,653 (729,192) - 1,856,708 1,218,796 Increase (decrease) in contracts payable - (11,349) - - - (11,349) Increase (decrease) in accrued liabilities 16,092 1,647 - - - 17,739 Increase (decrease) in claims payable - 99 509,541 (2,045) 891,000 1,398,595 Increase (decrease) in unearned revenue - - 4,927 - - 4,927 Increase (decrease) in net pension liability and related deferred items (67,986) - - - - (67,986) Increase (decrease) in compensated absences (111,095) (21,348) - - - (132,443) Total adjustments 5,494,042 404,702 (214,724) (8,131) 2,235,262 7,911,151

Net cash provided by (used in) operating activities 7,287,319$ 1,391,476$ 1,624,382$ (920,097)$ 2,325,985$ 11,709,065$

Noncash capital activities: Contributed capital assets 20,008$ -$ -$ -$ -$ 20,008$ Total noncash capital activities 20,008$ -$ -$ -$ -$ 20,008$

AGENCY FUNDS BOARD OFCOUNTYCOMMIS- CLERK & TAXSIONERS COMPTROLLER COLLECTOR SHERIFF TOTAL

ASSETS

Cash and cash equivalents 860,397$ 12,655,746$ 4,031,139$ 588,106$ 18,135,388$ Investments 479,155 - 2,000,923 - 2,480,078 Total assets 1,339,552$ 12,655,746$ 6,032,062$ 588,106$ 20,615,466$

LIABILITIES

Liabilities: Vouchers payable -$ -$ -$ 18$ 18$ Due to other governments - 3,625,877 4,803,934 - 8,429,811 Deposits 1,339,552 9,029,869 1,228,128 588,088 12,185,637 Total liabilities 1,339,552$ 12,655,746$ 6,032,062$ 588,088$ 20,615,466$


BALANCE BALANCEOCTOBER 1, SEPTEMBER 30,

2014 ADDITIONS DELETIONS 2015BOARD OF COUNTY COMMISSIONERSAssets: Cash and cash equivalents 1,118,409$ 86,038$ 344,050$ 860,397$ Investments 63,254 415,901 - 479,155 Total Assets 1,181,663$ 501,939$ 344,050$ 1,339,552$

Liabilities: Deposits 1,181,663$ 813,894$ 656,005$ 1,339,552$

CLERK & COMPTROLLERAssets: Cash and cash equivalents 17,760,994$ 118,852,962$ 123,958,210$ 12,655,746$

Liabilities: Due to other governments 4,586,410$ 164,494,835$ 165,455,368$ 3,625,877$ Deposits 13,174,584 62,801,681 66,946,396 9,029,869 Total liabilities 17,760,994$ 227,296,516$ 232,401,764$ 12,655,746$

TAX COLLECTORAssets: Cash and cash equivalents 5,623,154$ 1,178,025,208$ 1,179,617,223$ 4,031,139$ Investments - 61,904,745 59,903,822 2,000,923 Due from other governments 28,563 - 28,563 - Total Assets 5,651,717$ 1,239,929,953$ 1,239,549,608$ 6,032,062$

Liabilities: Due to other governments 4,822,858$ 683,793,161$ 683,812,085$ 4,803,934$ Deposits 828,859 17,466,288 17,067,019 1,228,128 Total liabilities 5,651,717$ 701,259,449$ 700,879,104$ 6,032,062$

SHERIFFAssets: Cash and cash equivalents 523,939$ 2,794,139$ 2,729,972$ 588,106$ Cash and cash equivalents 523,939$ 2,794,139$ 2,729,972$ 588,106$

Liabilities: Deposits 523,939$ 2,794,121$ 2,729,972$ 588,088$ Vouchers payable - 18 - 18

523,939$ 2,794,139$ 2,729,972$ 588,106$

TOTAL - ALL AGENCY FUNDSAssets: Cash and cash equivalents 25,026,496$ 1,299,758,347$ 1,306,649,455$ 18,135,388$ Investments 63,254 62,320,646 59,903,822 2,480,078 Due from other governments 28,563 - 28,563 - Total Assets 25,118,313$ 1,362,078,993$ 1,366,581,840$ 20,615,466$

Liabilities: Vouchers payable -$ 18$ -$ 18$ Due to other governments 9,409,268 848,287,996 849,267,453 8,429,811 Deposits 15,709,045 83,875,984 87,399,392 12,185,637 Total liabilities 25,118,313$ 932,163,998$ 936,666,845$ 20,615,466$


2008D, RENEWAL AND2011 & 2015 REPLACEMENT

REVENUE FUND RESERVE FUND FUND

Balance, October 1, 2014 8,070,266$ 45,193,439$ 2,001,562$

Receipts: System revenues 40,563,656 - - Transfer in 46,843,702 37,065,415 - Total available 95,477,624 82,258,854 2,001,562

Disbursements: Payments to county's operating account 27,211,560 - - Transfers out 58,904,808 38,914,713 - Total disbursements 86,116,368 38,914,713 -

Balance, September 30, 2015 9,361,256$ 43,344,141$ 2,001,562$

Balance is comprised of the following:

Temporary investments 9,361,256$ 43,344,141$ 2,001,562$ Balance, September 30, 2015 9,361,256$ 43,344,141$ 2,001,562$


DEBT SERVICE FUND2008D, 2008D, 2008D,

2011 & 2015 2011 & 2015 2011 & 2015DEBT SERVICE INTEREST PRINCIPAL

RESERVE ACCOUNT ACCOUNT ACCOUNT

Balance, October 1, 2014 7,873,032$ 498,625$ -$

Receipts: Transfer in - 1,326,314 - Total available 7,873,032 1,824,939 -

Disbursements: Debt service 4,045,538 - - Transfers out - 1,662,083 - Total disbursements 4,045,538 1,662,083 -

Balance, September 30, 2015 3,827,494$ 162,856$ -$

Balance is comprised of the following:

Temporary investments 3,827,494$ 162,856$ -$ Balance, September 30, 2015 3,827,494$ 162,856$ -$


PASCO COUNTY, FLORIDA

Reports Required by OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General, State of Florida

September 30, 2015

(With Independent Auditors Report Thereon)


Table of Contents

Page

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 1

Independent Auditors Report on Compliance for Each Major Federal Program and State Project; Report on Internal Control over Compliance; and Report on Schedule of Expenditures of Federal Awards and State Financial Assistance Required by OMB Circular A 133, Audits of States, Local Governments, and Non-Profit Organizations and Chapter 10.550, Rules of the Auditor General 3

Schedule of Expenditures of Federal Awards and State Financial Assistance 6

Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance 10

Schedule of Findings and Questioned Costs 11

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

Distinguished Members of the Board of County Commissioners:

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Pasco County, Florida (the County) as of and for the year ended September 30, 2015, and the related notes to the financial statements which comprise the County s basic financial statements, and have issued our report thereon dated July 29, 2016.

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.

Our consideration of internal control was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. However, as described in the accompanying schedule of findings and questioned costs, we identified certain deficiencies in internal control that we consider to be material weaknesses and significant deficiencies.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity sfinancial statements will not be prevented, or detected and corrected on a timely basis. We consider the deficiencies described as Findings 2015-001 and 2015-002 in the accompanying schedule of findings and questioned costs to be material weaknesses.

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. We consider the deficiency described as Finding 2015-003 in the accompanying schedule of findings and questioned costs to be a significant deficiency.

2

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.

Pasco County, Florida s Responses to the Findings

The County s responses to the 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 the financial statements and, accordingly, we express no opinion on the responses.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the County 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 County s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


3

Independent Auditors Report on Compliance for Each Major Federal Program and State Project; Report on Internal Control over Compliance; and Report on Schedule of Expenditures of Federal Awards and State Financial Assistance Required by OMB Circular A 133, Audits of States, Local

Governments, and Non-Profit Organizations and Chapter 10.550, Rules of the Auditor General

Distinguished Members of the Board of County Commissioners:

Report on Compliance for Each Major Federal Program and State Project

We have audited Pasco 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, 2015. The County s major federal programs and state projects are identified in the summary of auditor s results section of the accompanying schedule of findings and questioned costs.

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 projects 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 (Chapter 10.550). Those standards, OMB Circular A 133, and Chapter 10.550 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program orstate 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 scompliance.

Opinion on Each Major Federal Program and State Project

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 major federal programs and state projects for the year ended September 30, 2015.

4

Other Matters

The results of our auditing procedures disclosed an instance of noncompliance, which is required to be reported in accordance with OMB Circular A-133 and Chapter 10.550 and which is described in the accompanying schedule of findings and questioned costs as Finding 2015 004. Our opinion on each major federal program and state project is not modified with respect to this matter.

The County s response to the noncompliance finding identified in our audit is 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.

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, 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.

A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program or state project on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program or state project will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program or state project that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.

Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section 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. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, we identified certain deficiencies in internal control over compliance, as described in the accompanying schedule of findings and questioned costs as Findings 2015 004 and 2015-005 that we consider to be significant deficiencies.

The County s responses 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 responses were not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on the responses.

The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of OMB Circular A 133 and Chapter 10.550. Accordingly, this report is not suitable for any other purpose.

5

Report on Schedule of Expenditures of Federal Awards and State Financial Assistance Required by OMB Circular A-133 and Chapter 10.550

We have audited the financial statements of the governmental activities, the business type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of the County as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the County s basic financial statements. We have issued our report thereon dated July 29, 2016, which contained unmodified opinions on those financial statements. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the basic financial statements. The accompanying schedule of expenditures of federal awards and state financial assistance is presented for purposes of additional analysis as required by OMB Circular A-133 and Chapter 10.550 and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards and state financial assistance is fairly stated in all material respects in relation to the basic financial statements as a whole.

October 18, 2016 Certified Public Accountants

(Continued)6


Schedule of Expenditures of Federal Awards and State Financial Assistance

Year ended September 30, 2015

CFDA/ ContractFederal/state grantor/pass-through grantor CSFA amount Grant ID No. Expenditures

U.S. Department of Housing and Urban Development:Direct Program:

Community Development Block Grant / Entitlement Grant Cluster:Community Development Block Grant/Entitlement Grant 14.218 $ — Program Income $ 362,027Community Development Block Grant/Entitlement Grant 14.218 2,491,086 B13-UC-12-0009 2,243,123Community Development Block Grant/Entitlement Grant 14.218 2,624,280 B14-UC-12-0009 285,654Officer Friendly 14.218 87,626 75,626Neighborhood Stabilization Program NSP 1 14.218 — Program Income 84,055Neighborhood Stabilization Program NSP 3 14.218 — Program Income 367,584

Total Community Development Block Grant Entitlement Grant Cluster 3,418,069

Choice Neighborhood 14.892 300,000 FL4H511CNP112 224,027

Total program 224,027

Passed through Neighborhood Lending Association:ARRA – Neighborhood Stabilization Program NSP 2 14.256 29,553,129 B09-CN-FL-0023 3,179,971

Total program 3,179,971

Direct Program:Emergency Solutions Grant Program 14.231 176,925 E13-UC-12-0017 56,041Emergency Solutions Grant Program 14.231 202,373 E14-UC-12-0017 122,440


Direct Program:Home Investment Partnership Program 14.239 1,131,724 M09-DC-12-0216 39,884Home Investment Partnership Program 14.239 1,124,396 M10-DC-12-0216 83,188Home Investment Partnership Program 14.239 993,719 M11-DC-12-0216 894,347Home Investment Partnership Program 14.239 835,246 M12-DC-12-0216 390,549Home Investment Partnership Program 14.239 839,963 M13-DC-12-0216 10,455Home Investment Partnership Program 14.239 888,050 M14-DC-12-0216 45,569Home Investment Partnership Program 14.239 — Program Income 612,257


Passed through Florida Office of Attorney General:HUD Capital Fund Drug Elimination 14.872 30,000 None 28,505

Total U.S. Department of Housing and Urban Development 9,105,302

Election Assistance Commission:Passed through State of Florida Department of State – Division of Elections:

Poll Worker Recruitment and Training 90.401 77,458 MOA 4,721

Total Election Assistance Commission 4,721

U.S. Department of Justice:Bureau of Justice Assistance:

Adult Drug Court Expansion – Prison Diversion 16.585 200,000 2013-DC-BX-0025 146,168

Direct Program:State Criminal Alien Assistance Program 16.606 94,091 2010-AP-BX-0007 16,835Solving Colds Cases with DNA 16.560 116,747 2014-DN-BX-K466 19,804

Passed through Florida Office of Attorney General:Victims of Crime Act 16.575 41,868 V125-14003 39,835

Direct Program:Violence Against Women Formula Grants:

STOP Enhanced LE Response 16.588 111,255 15-80090LE-ENH 85,538STOP Enhanced LE Response 16.588 111,255 16-80090LE-EHN 26,386


JAG Program Cluster:Direct program:

JAG V & N Gang Suppression (6) 16.738 94,599 2014-DJ-BX-0495 86,471Multi-Jurisdictional Task Force – SNAP 16.738 128,215 2015-JAGC-PASC-1-R3-009 128,215

Total JAG Program Cluster 214,686

Federal Equitable Sharing 16.922 — None 771,483

Total U.S. Department of Justice 1,320,735

U.S. Department of Transportation:Passed through Florida Department of Transportation:Urban Mass Transportation Technical Studies:

Grant MPO Section 5303 20.505 14,443 AQT92 FY 12/13 STATE 2,928Passed through Pinellas County MPO:

Urban Mass Transportation Technical Studies:Grant MPO Section 5303 20.505 115,541 AQT92 FY 12/13 FEDERAL 23,426Grant MPO Section 5303 (d) 20.505 135,631 ARA88 FY 13/14 FEDERAL 82,069Grant MPO Section 5303 (d) 20.505 138,722 ARM21 FY 14/15 FEDERAL 6,479


(Continued)7





Highway Planning and Construction Cluster:Metropolitan Planning Organization Section 1107 PL 20.205 $ 1,007,985 A5208 14-15 $ 324,264Metropolitan Planning Organization Section 1107 PL 20.205 1,373,714 A5208 15-16 164,794Lake Iola – Construction 20.205 290,400 ARC04 1,369Cypress Knoll Drive Sidewalk Project – Construction 20.205 106,050 ARI27 1,412Foggy Ridge Parkway Sidewalk Project – Construction 20.205 62,200 ARI28 12,428Shady Hills Road Traffic Operations Improvement Project 20.205 1,493,495 AR306 1,189,779Trouble Creek Road Sidewalk Project – Design 20.205 96,720 AQP82 15,509Villa Entrada Sidewalk Project – Construction 20.205 115,900 ARI29 1,356

Total Highway Planning and Construction Cluster 1,710,911

Direct Program:Federal Transit Cluster:

Urban Mass Transportation Capital and Operating Assistance Formula Grant 20.507 2,136,824 FL90X-654 8,811Urban Mass Transportation Capital and Operating Assistance Formula Grant 20.507 2,363,218 FL90X-695 20,803Urban Mass Transportation Capital and Operating Assistance Formula Grant 20.507 2,339,128 FL90X-732 287,284Urban Mass Transportation Capital and Operating Assistance Formula Grant 20.507 2,243,375 FL90X-753 30,617Urban Mass Transportation Capital and Operating Assistance Formula Grant – Capital 20.507 2,347,364 FL90X-780 24,008Urban Mass Transportation Capital and Operating Assistance Formula Grant – Capital 20.507 3,154,784 FL90X-814 1,130,328Urban Mass Transportation Capital and Operating Assistance Formula Grant – Operating 20.507 225,000 FL90X-814 90,000Urban Mass Transportation Capital and Operating Assistance Formula Grant – Capital 20.507 3,336,486 FL90X-847 248,771Urban Mass Transportation Capital and Operating Assistance Formula Grant – Operating 20.507 225,000 FL90X-847 90,000ARRA – ZHILLS Small Urban 20.507 3,944,919 FL96X-020 61,742

Total Federal Transit Cluster 1,992,364

Passed through Florida Department of Transportation:Highway Safety Cluster:

HVE Pedestrian Grant 20.600 25,227 BDV25/945-001 19,961

Total Highway Safety Cluster 19,961

Passed through Florida Department of Transportation:Formula Grants for Other than Urbanized Areas:

Rural 5311 FY 13 Ops 20.509 387,843 APV20 136,175Passed through Florida Department of Transportation:

National Priority Safety ProgramsEMS STARS – CDX Grant 20.616 16,429 G0718 16,200

Total U.S. Department of Transportation 3,990,513

Office of Library Services, Institute of Museum and Library Services:Direct Program:

National Foundation on the Arts and the Humanities:Pasco County Library Cooperative Web Portal (Get Help Florida) 45.310 15,000 14-LSTA-A-03-A 15,000

Total Office of Library Services 15,000

U.S. Department of Homeland Security:Direct Program:

Staffing for Adequate Fire and Emergency Response (SAFER) (FY 11/12) 97.083 2,292,696 EMW-2011-FH-00566 771,038

Passed through the Division of Emergency Management:Citizens Corps Grant (FY 14/15) 97.042 5,485 4,693Community Emergency Response Team (CERT) (FY 13/14) 97.042 11,200 13-CI-K1-08-61-02-295 147Community Emergency Response Team (CERT) (FY 14/15) 97.042 14,465 15-CI-N2-08-61-02-284 12,942Emergency Management Performance Grant (FY 13/14) 97.042 129,104 15-FG-4D-08-61-01-118 129,104

146,886

Hazard Mitigation Grant Severe Repetitive Loss – PJ-04-FL-2010-13 (Heavens Way) 97.110 214,057 12SL-5E-08-61-01-510 204,503

Hazard Mitigation Grant – 561-24-R (Grand Blvd) 97.039 160,767 13HM-2Y-08-61-01-477 151,321Hazard Mitigation Grant FY15 (various) 97.039 1,299,257 15-HM-6B-08-61-01-172 37,661


Passed through the Department of Community Affairs:Homeland Security (FY 13/14) 97.067 17,750 14-DS-L5-08-61-01-258 7,637Homeland Security (FY 14/15) 97.067 20,000 15-DS-P4-08-61-01-377 5,743Homeland Security Grant – Operation Stonegarden – Paradise Lost 97.067 67,914 15-DS-P9-08-61-01-482 46,233


Total U.S. Department of Homeland Security 1,371,022

U.S. Department of Health and Human Services:Passed through the Department of Elder Affairs:

Aging Cluster Program:Title IIIB Transportation 93.044 199,513 OAA-EA015 PASCO TRANSP Fed 118,211Title IIIB Transportation 93.044 12,000 OAA-EA015 Project Income 9,000Title IIIB Transportation 93.044 200,176 EA014-Pasco-Transportation 61,383Title IIIB Transportation 93.044 N/A EA014 Project Income 3,000Elderly Nutrition Title IIIC 93.045 175,418 EA015 Pasco Nutrition C1 Federal 109,242Elderly Nutrition Title IIIC 93.045 N/A EA015 Pasco Nutrition C1 Project Income 9,899Elderly Nutrition Title IIIC 93.045 591,884 EA015 Pasco Nutrition C2 Federal 447,107Elderly Nutrition Title IIIC 93.045 N/A EA015 Pasco Nutrition C2 Project Income 2,615Elderly Nutrition Title IIIC 93.045 247,298 EA014 Pasco Nutrition C1 Federal 108,198Elderly Nutrition Title IIIC 93.045 N/A EA014 Pasco Nutrition C1 Project Income 3,660Elderly Nutrition Title IIIC 93.045 511,580 EA014 Pasco Nutrition C2 Federal 219,013Elderly Nutrition Title IIIC 93.045 N/A EA014 Pasco Nutrition C2 Project Income 1,308

8





Passed through Area Agency on Aging of Pasco-Pinellas, Inc.:

Nutrition Services Incentive Program 93.053 $ 30,560 EU015 Pasco C1 $ 36,702Nutrition Services Incentive Program 93.053 83,001 EU015 Pasco C2 94,421Nutrition Services Incentive Program 93.053 63,390 EU014 Pasco C1 8,312Nutrition Services Incentive Program 93.053 — EU014 Pasco C2 18,828

Total Aging Cluster Program 1,250,899

Passed through Department of Health:Department of Health, Substance Abuse and Mental Health Services – Veterans Treatment 93.243 325,000 193,681

Passed through Department of Children and Families:Temporary Assistance for Needy Families – Federal Portion 93.558 955,384 QJZ33 1,647,960Foster Care – Title IV-E 93.658 50,553 QJZ33 37,119Social Services Block Grant 93.667 988,399 QJZ33 884,333

Passed through Florida Department of Revenue:Child Support Enforcement 93.563 N/A N/A 439,258

Passed through Department of Elder Affairs:Emergency Home Energy 93.568 107,799 EHEAP EP014-PASCO 49,731Emergency Home Energy 93.568 95,036 EHEAP EP015-PASCO 95,036


Total U.S. Department of Health and Human Services 4,598,017

U.S. Department of Environmental Protection:Brownfield’s Coalition Assessment Grant 66.818 1,000,000 EPA-OSWER-OBLER-10-09 119,411

Total U.S. Department of Environmental Protection 119,411

U.S. Department of Agriculture:Rural Housing Preservation Grant 10.433 70,000 63,024

Total U.S. Department of Agriculture 63,024

Executive Office of the President:High Intensity Drug Trafficking Areas Program 95.001 60,000 G14CF0014A 59,670High Intensity Drug Trafficking Areas Program 95.001 79,440 G15CF0014A 17,789

Total Executive Office of the President 77,459Total Expenditures of Federal Awards $ 20,665,204

See accompanying independent auditors’ report and notes to schedule of expenditures of federal awards and state financial assistance.

9





Florida Department of Environmental Protection:Water Management Districts – Land Acquisition and Improvement Program:

Implementation of BMPs in the Duck Slough Watershed N502 37.022 $ 1,000,000 13C00000015 $ 487,667

Total Florida Department of Environmental Protection 487,667

Florida Department of State and Secretary of State:State Aid to Libraries Program:

PCLC State Aid 45.030 8,877 15-ST-71 8,877State Aid to Libraries 45.030 196,936 15-ST-71 196,936

Total Florida Department of State and Secretary of State 205,813

Florida Department of Community Affairs:State Housing Initiative Partnership 52.901 3,817,115 M01-UC-18-0216 845,704State Housing Initiative Partnership 52.901 — Program Income 1,432,843

Total Florida Department of Community Affairs 2,278,547

Florida Department of Transportation:Florida Commission for the Transportation Disadvantaged Trip and Equipment Grant Program 55.001 650,091 ARH17 487,566Florida Commission for the Transportation Disadvantaged Trip and Equipment Grant Program 55.001 650,091 G0182 162,666


Transportation Disadvantaged Planning Grant 55.002 28,930 ARI22 21,119Transportation Disadvantaged Planning Grant 55.002 28,930 G0250 3,182


Transit Block Grant 55.010 1,001,579 ARQ83 599,118Transit Block Grant 55.010 973,351 AR805 325,045


County Incentive Grant Program:Moon Lake Rd @ SE52 (CIGP Agreement for ROW Acquisition) 55.008 1,845,100 AQQ83-FPN: 430383 1 48 01 1,297,654SR54 & Morris Bridge Rd/Eiland Blvd Intersection (CIGP Agreement) 55.008 1,872,500 ARE33-FPN: 416561 3 48 01 396,315


Transit Corridor Program:MPO 5305(d) 2013-2014 55.013 16,954 ARA88 10,259MPO 5305(d) 2014-2015 55.013 17,340 ARM21 810Corridor SR 54 55.013 225,000 AR807 180,000US19 FDOT 408319-1-84-13 FY 14 55.013 350,000 AR808 210,000US19 FDOT 408319-1-84-14 FY 15 55.013 250,000 ARQ84 50,000


SR 54/56 (19-301) Toll Feasibility Study 55.023 218,785 AQ83 40,434

Transportation Regional Incentive Program:TRIP Ridge Rd (Broad to Moon LK) 55.026 15,228,065 AQQ73 5,271,485TRIP Ridge Rd (Little Road to Moon Lake) 55.026 1,000,000 AP197 858


Transportation Infrastructure Program:TIP Lemon Road & Orchid Lake Road Intersection Project 55.029 461,114 AQA81 92,500TIP Interlaken Road (Community Drive to Gunn highway – CR587) 55.029 3,839,470 FPN: 430446 1 38/48/58 01 2,067,491

Total program 2,159,991Total Florida Department of Transportation $ 11,216,502

Florida Department of Health:County Grant Awards:

EMS County Award 64.005 55,273 C2051 9,253EMS County Award 64.005 84,343 C3051 13,228


EMS Match Award 64.003 47,938 M3032 47,938

Total Florida Department of Health 70,419

Florida Department of Elder Affairs, Passed through Area Agency on Aging of Pasco-Pinellas, Inc.:Local Services Programs:

Title IIIB Transportation 65.009 48,406 OAA-EL014-Pasco-Transportation 48,406Elderly Nutrition Title IIIC 65.009 72,745 EL014 Pasco Nutrition C1 – State 72,745Elderly Nutrition Title IIIC 65.009 48,493 EL014 Pasco Nutrition C2 – State 48,493

Total Florida Department of Elder Affairs 169,644

Florida Department of Juvenile Justice:Juvenile Assessment 80.020 1,322,388 X-1638 206,395At Risk Youth 80.022 475,176 X-1598 85,628

Total Florida Department of Juvenile Justice 292,023

Executive Office of the Governor:Emergency Management Preparedness and Assistance Grant (EMPA) (FY14/15) 31.063 105,806 15-BG-83-08-61-01-051 105,806

Emergency Management Projects Program:Hazardous Materials Emergency Plan Agreement Planning (FY 13/14) 31.067 6,454 14-CP-11-08-61-01-305 1,505Hazardous Materials Emergency Plan Agreement Planning (FY 14/15) 31.067 5,763 15-CP-11-08-61-01-257 905

Total program 2,410

Total Executive Officer of the Governor 108,216

Florida Fish and Wildlife Conservation Commission:Florida Boating Improvement Program 77.006 19,800 13399 19,800

Total Florida Fish and Wildlife Conservation Commission 19,800Total Expenditures of State Awards $ 14,848,631

See accompanying independent auditors’ report and notes to schedule of expenditures of federal awards and state financial assistance.


Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance


10

(1) Basis of Presentation

The accompanying schedule of expenditures of federal awards and state financial assistance (Schedule) includes the federal and state grant activity of the County, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the U.S. Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Nonprofit Organizations, and Chapter 215.97, Florida Statutes. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.

(2) Loans Outstanding

The County had the following loan balances outstanding at September 30, 2015. The current year additions related to the loans are included in the Schedule of Expenditures of Federal Awards and State Financial Assistance as expenditures.

CFDA/CSFA # Program Amount

14.218 Community Development Block Grant/Entitlement Grant $ 9,608,359 14.256 10,285,005 14.239 HOME Investment Partnership Program 12,533,279 52.901 State Housing Initiative Partnership (SHIP) Program 21,612,932

$ 54,039,575

(3) Subrecipients

Of the federal and state expenditures presented in the Schedule, the County provided awards to subrecipients during the year ended September 30, 2015 as follows:

Amountprovided to

CFDA # Program subrecipients

14.218 Community Development Block Grant/Entitlement Grant Cluster $ 496,576


Schedule of Findings and Questioned Costs


11 (Continued)

(1) Summary of Auditors Results

Financial Statements

Type of auditors report issued: Unmodified

Internal control over financial reporting:

Material weakness(es) identified? Yes

Significant deficiency(ies) identified that are not considered to be material weaknesses? Yes

Noncompliance material to the financial statements noted? No

Federal Awards

Internal control over major programs:

Material weakness(es) identified? No


Type of auditors report issued on compliance for major programs: Unmodified

Any audit findings disclosed that are required to be reported in accordance with Section 510(a) of Circular A-133? Yes




12 (Continued)

Identification of Major Federal Programs

CFDAFederal programs number

U.S. Department of Homeland Security:Staffing for Adequate Fire and Emergency Response (SAFER) (FY 11/12) 97.083

U.S. Department of Housing and Urban Development:Community Development Block Grants / Entitlement Grants Cluster 14.218 Passed through Neighborhood Lending Association:

14.256

U.S. Department of Justice:Federal Equitable Sharing Program 16.922

U.S. Department of Transportation:Highway Planning and Construction Cluster 20.205

U.S. Department of Heath and Human Services:Aging Cluster Program Various

Child Support Enforcement 93.563

The threshold for distinguishing Type A and Type B programs was $359,727 for federal programs.

Auditee qualified as low-risk auditee? No

State Projects

Internal control over major projects:

Material weakness(es) identified? No


Type of auditors report issued on compliance for major projects: Unmodified

Any audit findings disclosed that are required to be reported in accordance with Chapter 10.550? No




13 (Continued)

Identification of Major State Projects

CSFAState projects number

Florida Department of Transportation:Florida Commission for the Transportation Disadvantaged Trip and 55.001

Equipment Grant ProgramCounty Incentive Grant Program 55.008Transit Corridor Program 55.013Transportation Regional Incentive Program 55.026Transportation Infrastructure Program 55.029

The threshold for distinguishing Type A and Type B projects was $445,459 for state projects.




14 (Continued)

(2) Findings Relating to the Financial Statements Reported in Accordance with Government Auditing Standards

Finding 2015-001

Criteria

Proper reporting of financial results in a timely and accurate manner is an important component of internal control. Controls should be in place to monitor account balances on a regular basis to detect potential errors that could impact the accurate reporting of financial results.

Condition

In performing our audit procedures we identified several audit differences and adjusting entries, primarily in the areas of debt issuance costs, capital assets, accrued compensated absences, liability for incurred but not reported health claims, and restricted cash and investments.

Context

The finding is systemic in nature as several audit adjustments were needed to finalize year end account balances.

Effect

Ineffective design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements may prevent management from identifying a material misstatement, whether due to fraud or error.

Cause

Continued transition of key finance department personnel involved in the financial reporting process, along with other resource constraints related to a system conversion. Additionally, specific to capital assets, the fact that capital asset activity is only entered annually creates the potential for errors to occur.

Recommendation

Management should establish policies and procedures to monitor and reconcile account balances and funds on a monthly basis. There should be adequate supervision and effective review performed to ensure all reconciliations are taking place on a timely basis and that journal entries related to reconciliations are properly reviewed. When errors are identified that require adjustment, the nature of the error needs to be identified and corrected so that similar errors in the future do not occur.

View of Responsible Officials

Key open Financial Services management positions, along with the implementation of a new ERP system led to resource constraints to effectively review all reconciliations and year-end adjusting entries. During Fiscal Year 2015 2016, the new Financial Services management team has developed a corrective action plan to enhance its internal control over financial reporting. The plan is to implement a year-end process, which includes checklists assigned to specific personnel, each responsible for ensuring that all transactions are properly accounted for with the appropriate accounting standards applied.




15 (Continued)

Management is also leading an effort to examine the process and resources involved in the reconciliation, review of account balances, and required journal entries. Management has established policies and procedures to monitor and reconcile account and fund balances on a monthly basis, identify areas that may be improved, and take action to do so. The Director of Financial Services and the Managers of Financial Accounting & Reporting review all reconciliations to ensure they are taking place on a timely basis, and journal entries are also properly reviewed for accuracy




16 (Continued)

Finding 2015-002

Criteria

Management is responsible for the preparation and fair presentation of financial statements in accordance with U.S. generally accepted accounting principles; 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. A key component of an effective internal control environment is the timely reconciliation of accounts to the general ledger.

Condition

Subsequent to the County s conversion of the utility billing system in June 2014, there were several key controls that were ineffective, missing, or not performed during the entire current fiscal year, which included:

A monthly reconciliation of customers deposits to the general ledger

A monthly reconciliation of accounts receivable per the utility billing system to amounts recorded in the general ledger.

A daily reconciliation of cash receipts posted to the utility billing system to amounts recorded in the general ledger.

A periodic reconciliation of meter readings to the amount of water usage billed to customers

A periodic review of exception reports, including evidence of review and resolution of exceptions

A lack of segregation of duties between the individual responsible for oversight of the utility billing system to the billing and collection functions.

Context

As a result of the lack of reconciliations taking place during the year, an error of approximately $3.3 million was identified and recorded by the County. This error related to five batches of billings that were processed by the utility billing system that were not recorded in the general ledger. The volume of transactions that are processed by the utility department on a daily basis increases the likelihood that a material error could go uncorrected.

Effect

Ineffective design, implementation, and maintenance of internal control may prevent management from identifying a material misstatement, whether due to fraud or error.

Cause

At the time of the utility billing system conversion, the County had not completely evaluated the necessary changes that would be required to its business processes to ensure that existing reconciliations could continue to be performed effectively.




17 (Continued)

Recommendation

The County continue to review the modifications that are needed to its internal reconciliation processes to ensure that reconciliations are being performed effectively and in a timely manner. Additionally, that exception reports and other system features be used to effectively manage the billing and collection processes.


A monthly reconciliation of customers deposits to the general ledger.

The County developed a method to reconcile customer deposits to the general ledger and implemented the process in January of 2015. a more effective and consistent process to the monthly closing to improve the progress of reconciliations. Preliminary documents have been recorded detailing the process. Monthly reconciliation of customer deposits is currently up to date.

A monthly reconciliation of accounts receivable per the utility billing system to amounts recorded in the general ledger.

A process to reconcile accounts receivable per the utility billing system to amounts recorded in the general ledger was developed during FY 2015 and implemented in January 2016. Preliminary documents have been recorded detailing the process. Ongoing developments are being explored to improve the accuracy and simplicity of the proreconciliation of accounts receivable per the utility billing system to amounts recorded in the general ledger are currently up to date.

A daily reconciliation of cash receipts posted to the utility billing system to amounts recorded in the general ledger.

The County implemented a daily reconciliation of cash receipts to the bank statement and general ledger in January of 2015 starting with October 1, 2014 activity. By September 30, 2015, a daily reconciliation was consistently performed and continues to date. The cash receipt process has been mapped and several

A periodic reconciliation of meter readings to the amount of water usage billed to customers.

Currently, on a daily basis, the number of meters to be read is compared against the actual number of meters read to ensure all readings are included. Additionally, the Utilities Department is working on the reimplementation of the Customer Information System. As part of that reimplementation, staff is analyzing reporting capabilities including consumption.

A periodic review of exception reports, including evidence of review and resolution of exceptions.

Exceptions are currently being reviewed and resolved on a daily basis. They are then journaled and saved in the following location; U:/Utilities Customer Service Documents/CIS Journals FY2015-2016/ date/Billing Journals. The personnel then complete the resolution, journal and save again and then the bills are generated.




18 (Continued)

A lack of segregation of duties between the individual responsible for oversight of the utility billing system to the billing and collection functions.

Reorganization and staffing changes within Customer Information & Services Department has resulted in changes needing to be made with numerous process and procedures to further ensure segregation of duties. Currently, the Utilities Department is modifying duties and responsibilities for several positions.




19 (Continued)

Finding 2015-003 Criteria Management is responsible for the preparation and fair presentation of financial statements in accordance with U.S. generally accepted accounting principles; 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. Condition The Community Development loan tracking database does not track payoff of loans receivable or payments on these loans. As a result, County personnel from Community Development are currently unable to create properly supported roll-forwards and reconciliations to ensure the completeness and accuracy of loans receivable and deferred revenue. Similarly, Community Development is unable to reconcile its records to the information reported by the third party loan servicer, MFS. Therefore, Community Development is unable to identify any errors that may occur related to the completeness or accuracy of MFS reports, including the balance of loans receivable, loan delinquency, and other relevant account information. Context Total loans receivable of the Community Development function of the County amounted to approximately $54,000,000 at September 30, 2015.

Effect Ineffective design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements may prevent management from identifying a material misstatement, whether due to fraud or error.

Cause The County does not have effective reconciliation controls in place to ensure the completeness and accuracy of notes receivable.

Recommendation A knowledgeable person should reconcile the general ledger balance of loans receivable to the outstanding loan balances reported by the third-party loan servicer and maintained internally by the Community Development department on a consistent basis throughout the year and maintain documentation to support additions, deletions and other activity affecting the loan balance. Additionally, such reconciliation should be reviewed by someone other than the preparer to help identify errors in supporting documentation and calculations.


After many years of incorrect balances in the reporting on the loans outstanding, the County decided to bring those functions in-house and bring all loan information and balances in one data base. A software system was approved to be purchased in FY 2017, and an agreement is being finalized with the Tax Collector for payment collection. While no errors were found on the FY2015 data base and balances, it is acknowledged that it is an ineffective system. Because of the transition in loan data base management, the suggestions to better track with the current data base was not implemented, but will be corrected when the new system is in place.




20 (Continued)

(3) Findings and Questioned Costs Relating to Major Federal Programs

Finding 2015-004 Reporting

Federal Agency

United States Department of Housing and Urban Development

Federal Program

Community Development Block Grants / Entitlement Grants: CFDA #14.218: Neighborhood Stabilization Program NSP 3; Award Number B11 UN 12 0014, Award Year 2011

Criteria

Per the grant agreements, the grantee shall submit information on performance measurement as established by the Secretary for activities undertaken with NSP grant funds. The Grantee is advised that providing false, fictitious or misleading information with respect to NSP grant funds may result in criminal, civil or administrative prosecution under 18 USC 1001, 18 USC 1343, 31 USC 3729, 31 USC 3802 or another applicable statute.

Condition Found

In reviewing the three quarterly reports submitted for Neighborhood Stabilization Program 3, we identified that the quarterly total funds expended per the report did not agree to supporting documentation provided by the County. In addition, within the report, the County acknowledged the balances were not correct and needed to be corrected; however, during our audit, the County could not provide us information that these reports had been corrected.

Questioned Costs

None

Effect

Not complying with requirements related to reporting could jeopardize the County s future receipt of federal funds.

Cause

Management does not have adequate review controls in place to ensure reporting requirements are met and information reported is accurately prepared and reconciled to the general ledger.

Recommendation

We recommend the County implement controls to ensure reports are submitted accurately and completely.




21 (Continued)


During the FY15 audit, Public Services Fiscal staff was undergoing a full reconciliation of the NSP3 fund as a whole dating back to Fiscal Year 2011. Fiscal staff was aware of the issue with the reporting and coordinated with HUD to obtain direction on how to fix the reporting issue, ultimately getting the balances to match general ledger expenditures life to date. HUD direction was given to make any adjustments into the current reporting period open in the DRGR system. A full reconciliation of the fund was completed approximately in July 2016, and the balance adjustments were completed in the 3rd quarter report. The NSP3 quarterly reports have been corrected to reflect the balances in the financial system as of June 30, 2016.

cing to the total expenditures. All quarterly reports will be reviewed with the appropriate supporting backup prior to submission/approval in the DRGR system by the Fiscal Services Manager or designee other than the originator.




22 (Continued)

(4) Findings and Questioned Costs Relating to Major State Projects

Finding 2015-005 Eligibility

State Agency

Florida Department of Transportation

State Project

Florida Commission for the Transportation Disadvantaged Trip and Equipment Grant Program, CSFA #55.001

Criteria

Section 215.97(1), Florida Statutes, The Florida Single Audit Act, requires nonstate entities, including management and other personnel, to develop processes designed to provide reasonable assurance of compliance with the provisions of laws, regulations, and other rules pertaining to state awards that have a material effect on each major state project.

Condition Found

During the test of design and implementation of internal controls regarding eligibility for free or discounted bus passes, we identified the Transportation Support Services Supervisor is responsible for performing the review of the application, determining eligibility, and entering the individual into the Transview System. Therefore, management does not have effective segregation of duties in order to prevent, or detect and correct noncompliance on a timely basis.

Questioned Costs

None.

Effect

Assigning the responsibility for authorizing transactions, recording transactions, and maintaining custody of assets to different people is intended to reduce the opportunities for any one person to be in a position to both perpetrate and conceal errors, fraud, or noncompliance in the normal course of his or her duties. Not having proper segregation of duties could inhibit the County s ability to prevent, or detect and correct noncompliance on a timely basis.

Cause

Management controls surrounding the determination of eligibility for free or discounted bus passes are not properly designed to ensure proper segregation of duties.




23

Recommendation

We recommend the County implement controls to ensure it has proper segregation of duties when approving bus pass eligibility determination or establish mitigating controls to prevent, or detect and correct noncompliance on a timely basis.


Management will establish procedures to reconcile and monitor the review of the applications, eligibility determination, and entering the individuals into the Transvue System. The new procedure will be reviewed by the Paratransit Supervisor, and then the pass is provided by our Fiscal Accountant, and then authorized by a second Fiscal Account following a review by the Fiscal Supervisor. Passes are then entered into TransvueManager.

CORRECTIVE ACTION PLANPasco County, Florida

09/30/2015

Finding No.

Name of Responsible

OfficialDescription of Corrective Action Anticipated Completion

Date

2015-001Manny Long,

Director of Finance

Management is leading an effort to examine the process and resources involved in the reconciliation, review of account balances, and required journal entries. Management has established policies and procedures to monitor and reconcile account and fund balances on a monthly basis, identify areas that may be improved, and take action to do so. The Director of Financial Services and the Managers of Financial Accounting & Reporting review all reconciliations to ensure they are taking place on a timely basis, and journal entries are also properly reviewed for accuracy.

Corrective action implementation began in

FY 16

2015-002

Robert Sigmond,

Utilities Fiscal & Business

Services Director

The County will continue to review the modifications that are needed to itsinternal reconciliation process to ensure that reconciliations of customer deposits, accounts receivable, cash receipts, and billing are being performed effectively and in a timely manner.

Corrective action implementation began in

FY 16

2015-003

George Romagnoli, Community

Development Manager

Management has decided to bring all loan information reporting functions in-house and consolidate this, along with the balances, in one database. A software system was approved to be purchased in FY 2017, and an agreement is being finalized with the Tax Collector for payment collection. The transition in loan database management will be corrected when the new system is in place.

Corrective action implementation began in FY 16 with new software system implementation anticipated for FY 17

2015-004

Kristina McGonigal,

Fiscal Services Manager

All quarterly reports will be reviewed with the appropriate supporting backup prior to submission/approval in the DRGR system by the Fiscal Services Manager or designee other than the originator.

Corrective action July 2016

CORRECTIVE ACTION PLANPasco County, Florida

09/30/2015

2015-005

Philip Pumphrey,

Public Transportation

Director

Management will establish procedures to reconcile and monitor the review of the applications, eligibility determination, and entering the individuals into the Transvue System to ensure proper segregation of duties.

Corrective action is pending management

review

SUMMARY SCHEDULE OF PRIOR YEAR AUDIT FINDINGSPasco County, Florida

09/30/2015

Finding No.

Name of Responsible

OfficialDescription of Corrective Action Anticipated Completion

Date

2014-001Manny Long,

Director of Finance

Management is also leading an effort to examine the process and resources involved in the reconciliation, review of account balances, and required journal entries. Management has established policies and procedures to monitor and reconcile account and fund balances on a monthly basis, identify areas that may be improved, and take action to do so. The Director of Financial Services and the Managers of Financial Accounting & Reporting review all reconciliations to ensure they are taking place on a timely basis, and journal entries are also properly reviewed for accuracy.

Partially Corrected. See Finding 2015-001

2014-002

Robert Sigmond,

Utilities Fiscal & Business

Services Director

The county will continue to review the modifications that are needed to its internal reconciliation process to ensure that reconciliations of customer deposits, accounts receivable, cash receipts, and billing are being performed effectively and in a timely manner.


2014-003

George Romagnoli, Community

Development Manager

Management has decided to bring all loan information reporting functions in-house and consolidate this, along with the balances, in one database. A software system was approved to be purchased in FY 2017, and an agreement is being finalized with the Tax Collector for payment collection. The transition in loan database management will be corrected when the new system is in place.


2014-004

Thomas Supeau,

Emergency Services Manager

Corrective Action Taken Corrected

SUMMARY SCHEDULE OF PRIOR YEAR AUDIT FINDINGSPasco County, Florida

09/30/2015

2014-005

Kristina McGonigal,

Fiscal Services Manager

All quarterly reports will be reviewed with the appropriate supporting backup prior to submission/approval in the DRGR system by the Fiscal Services Manager or designee other than the originator.


2014-006

Philip Pumphrey,

Public Transportation

Director

Management will establish procedures to reconcile and monitor the review of the applications, eligibility determination, and entering the individuals into the Transvue System. The new procedure will be reviewed by the Paratransit Supervisor, and then the pass is provided by our Fiscal Accountant, and then authorized by a second Fiscal Account following a review by the Fiscal Supervisor. Passes are then entered into Transvue” by the Paratransit supervisor and then final approval is given by the TransportationAdministrative Manager.


When reporting the status of prior audit findings, the status is described in one of the following ways:

When audit findings were fully corrected, the summary schedule need only list the audit findings and state that corrective action was taken.

When audit findings were not corrected or were only partially corrected, the summary schedule describes the planned corrective action as well as any partial corrective action taken.

When the corrective action taken is significantly different from the corrective action previously reported in a corrective action plan or in the federal agency's or pass-through entity's management decision, the summary schedule provides an explanation.

When the auditee believes the audit findings are no longer valid or do not warrant further action, the reasons for this position are described in the summary schedule. A valid reason for considering an audit finding as not warranting further action is that all of the following have occurred:

-Two years have passed since the audit report in which the finding occurred was submitted to the Federal Clearinghouse, -The federal agency or pass-through entity is not currently following up with the auditee on the audit finding, and -A management decision was not issued.

October 18, 2016

The Distinguished Members the Board of County Commissioners Pasco County, Florida

We have audited the financial statements of the governmental activities, the business–type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Pasco County, Florida as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise Pasco County, Florida’s basic financial statements and have issued our report thereon dated July 29, 2016.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America, the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A–133, Audits of States, Local Governments, and Non–Profit Organizations. We have also issued our report dated July 29, 2016 on our consideration of Pasco County, Florida’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, as well as our report dated October 18, 2016, on our consideration of Pasco County, Florida’s compliance and internal control over compliance that could have a direct and material effect on each major federal program and state project, and the related schedule of findings and questioned costs. Disclosures in those reports and schedule should be considered in conjunction with this management letter.

Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which govern the conduct of governmental entity audits performed in the State of Florida and require that certain items be addressed in this letter.

Prior Audit Findings The Rules of the Auditor General, Section 10.554(1)(i)(1), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and compliance and other matters, whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. The status of findings and recommendations made in the preceding financial audit report are included in Appendix A.

Other Matters The Rules of the Auditor General, Section 10.554(1)(i)(2), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, any recommendations to improve Pasco County, Florida’s financial management. Current year recommendations to improve Pasco County, Florida’s financial management are included in Appendix B.

The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in the management letter noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.

KPMG LLP is a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.


The Distinguished Members the Board of County Commissioners Pasco County, Florida October 18, 2016 Page 2 of 2

Official Title and Legal Authority The Rules of the Auditor General, Section 10.554(1)(i)(4), also require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. Pasco County, Florida was established by the Constitution of the State of Florida, Article VIII, Section 1(d). Additional disclosure regarding the reporting entity is included in the notes to the financial statements.

Condition of Financial Emergency The Rules of the Auditor General, Section 10.554(1)(i)(5)(a), require that a management letter include the results of our determination as to whether Pasco County, Florida has met one or more of the conditions described in Section 218.503(1), Florida Statutes, regarding a financial emergency.

Management of Pasco County, Florida has determined that Pasco County, Florida is not in a state of financial emergency as defined in Section 218.503(1), Florida Statutes. In connection with our audit of the financial statements, the results of our tests did not indicate that Pasco County, Florida has met any of the conditions described in Section 218.503(1), Florida Statutes.

Financial Condition Assessment As required by the Rules of the Auditor General, Section 10.554(1)(i)(5)(c), we applied financial condition assessment procedures pursuant to Section 10.556(8). It is management’s responsibility to monitor Pasco County, Florida’s financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Annual Financial Report The Rules of the Auditor General, Section 10.554(1)(i)(5)(b), require that we determine whether the annual financial report for Pasco County, Florida for the fiscal year ended September 30, 2015, filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2015. In connection with our audit, we determined that these reports were in agreement.

* * * * * * *

This management letter is intended solely for the information and use of the Board of County Commissioners, management of Pasco County, Florida, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties.

Very truly yours,

October 18, 2016 Certified Public Accountants

Appendix A

A-1

Prior Year Recommendations

2014–BCC–ML–1/3 Timely Reconciliation of Cash Accounts

We noted that both the County’s SunTrust pooled cash account and the SunTrust operating account were not reconciled on a timely basis throughout the fiscal year. In general, such reconciliations were performed from four to eight months after the month end. Timely reconciliation of cash accounts is critical to an effective system of internal control. We recommend the County review its existing reconciliation processes to determine whether they can be enhanced to allow for reconciliations to be performed on a timely basis throughout the fiscal year.

Management Response

Management will review existing reconciliation processes and evaluate with County departments to improve timely reconciliation of cash accounts.

2015 Status

Corrected.

2014–BCC–ML–2/3 Capital Assets

While the County maintains detailed records of its capital assets as required by Florida Statutes, there is a significant amount of effort that takes place at the end of the fiscal year to reconcile these records internally to the general ledger and to prepare the information necessary for reporting in the County’s annual financial statements. We identified several errors related to: a lack of verification over the mathematical accuracy of project schedules to support additions of intangible assets, improper accounting for the deletion of capital assets and related depreciation, and reporting of capital asset activity in the incorrect accounting period. While some of these issues are related to limitations of the County’s current general ledger system, they are also related to a lack of thorough review of supporting documentation provided for journal entries to record capital asset activity, as well as reconciling such information to the footnote disclosures. We suggest management enhance its current process to ensure that an effective review is performed over capital asset activity for inclusion in the financial statements.

Management Response

Another member of the management team will review the capital assets year end spreadsheets and documentation to ensure accuracy in the reporting of capital asset activity.

2015 Status

While a review was performed, there were errors identified as a result of the audit procedures performed.

2014–BCC–ML–3/3 Developer Credits

As a result of our audit procedures and through review of the process for the tracking of developer credits, we identified management does not have an effective process in place to monitor and update the status of developer credits available to contractors. While the Clerk’s office uses a schedule titled Transportation Impact Fee – Developer Credit Accounts,’ this schedule was not updated for current year activity and is not reconciled with the developer credit memos issued by the permitting department. We recommend the Clerk’s office create a formal procedure to periodically reconcile their data to the permitting department activity to ensure its completeness and accuracy.

Appendix A

A-2

Management Response

County management has designated an accountant to oversee all Developer Credits. Central Permitting will submit Developer Credit balances and documentation monthly to the Clerk’s Office for audit review to ensure completeness and accuracy.

2015 Status

Uncorrected.

2013–BCC–ML–1/7 Controls Surrounding Financial Reporting

Management of Pasco County, Florida is responsible for establishing and maintaining effective internal control over financial reporting. As a result of our audit procedures, we noted numerous audit differences to amounts presented in the financial statements. While the audit differences were evaluated as not being material to the financial statements, the volume of these differences along with the corrected and uncorrected audit differences would indicate that improvements to the financial reporting process could be made. We recommend the County strengthen controls surrounding the financial reporting process to identify or prevent potential misstatements.

2014 Status

Uncorrected. Refer to GAS finding 2014–001.

2015 Status

Uncorrected. Refer to GAS finding 2015–001.

2013–BCC–ML–3/7 General Ledger Accounts

As a result of our audit procedures and through review of the Comprehensive Annual Financial Report, we noted numerous insignificant account balances that have not changed for several years. As the County begins its implementation of a new financial reporting system, we recommend the County review the general ledger for stale accounts and that correcting entries be made to adjust these accounts to their appropriate amounts.

2014 Status

Partially corrected. Management began their analysis as part of the implementation of a new financial system, however, due to a delay in the implementation, correcting entries were not made by the end of fiscal year 2014 as originally planned.

Management Response

Management will analyze the stale accounts and correcting entries will be made.

2015 Status

The new financial system was not implemented until fiscal 2016.

2013–BCC–ML–4/7 EMS Allowance for Doubtful Accounts

Management of Pasco County, Florida is responsible for estimating the net realizable value of EMS accounts receivable by estimating an allowance for doubtful accounts. During our audit, we identified the County estimated the allowance based on the percentage of net payments to net charges.

Appendix A

A-3

We recommended the County review its current policy for establishing the EMS allowance for doubtful accounts. We suggested such policy be revised to include estimating an allowance for EMS accounts receivable, which includes an analysis that takes into consideration its prior experience in collecting its receivables, the aging of account balances, the payment history of the individual accounts subsequent to period end, and an assessment of the effects of current economic conditions. Such analysis would result in an allowance for doubtful accounts that is more consistent with the application of U.S. generally accepted accounting principles.

2014 Status

Partially corrected. The County did revise its current policy to evaluate the aging of outstanding receivables. However, we would recommend that the evaluation not be limited to those outstanding receivables that are over 180 days past due, but also consider other balances that may become uncollectible as well.

Management Response

Management will evaluate the aging of outstanding receivables to include 30, 60, 90, and 180 days past due.

2015 Status

Corrected.

2013–BCC–ML–5/7 Debt Compliance Monitoring

Management of Pasco County, Florida is responsible for monitoring its various restrictive debt covenants, including ensuring the appropriate funds are transferred to restricted debt service and other sinking funds. While we did not identify instances of non–compliance with debt agreements, we would recommend that management strengthen the process and controls in place in regards to monitoring the operating fund reserve requirements under the applicable debt agreements, including follow up with the Trustee to ensure that funds are timely transferred.

2014 Status

Partially corrected. While the County did timely transfer funds to the Trustee as required, we did identify that the County over reserved funds. As a result of a debt refunding transaction, the County reserved for debt service on both the new debt and the refunded debt.

Management Response

Management will review procedures to ensure fund reserve requirements are properly monitored and the County is in compliance with its debt covenants, including the timely transfer of funds to the Trustees.

2015 Status

Through our audit procedures, we identified an adjustment that the County recorded to bring the required reserves to a sufficient level. Included as an element of GAS Finding 2015-001.

BCC GAS Finding 2013–001 Criteria

Management is responsible for the preparation and fair presentation of financial statements in accordance with U.S. generally accepted accounting principles; 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.

Appendix A

A-4

Condition

The Community Development loan tracking database does not track payoff loans receivable or payments on these loans. As a result, Community Development is currently unable to create properly supported rollforwards and reconciliations to ensure the completeness and accuracy of loans receivable and deferred revenue. Similarly, Community Development is unable to reconcile its’ records to the information reported by the third party loan servicer, MFS. Therefore, Community Development is unable to identify any errors that may occur related to the completeness or accuracy of MFS’ reports, including the balance of loans receivable, loan delinquency, and other relevant account information.

2014 Status

Uncorrected. See GAS Finding 2014–003.

2015 Status

Uncorrected. See GAS Finding 2015-003.

Tabulation of Uncorrected Audit Findings Current Year Finding # 2013/2014 Finding # 2012/2013 Finding #

GAS Finding 2015-001 GAS Finding 2014-001 2013-BCC-ML-1/7

GAS Finding 2015-002 GAS Finding 2014-002 N/A

GAS Finding 2015-003 GAS Finding 2014-003 BCC GAS Finding 2013-001

N/A 2014-BCC-ML-1/3 NA

GAS Finding 2015-001 2014-BCC-ML-2/3 NA

2015-BCC-ML-1/1 2014-BCC-ML-3/3 NA

.

B-1

Appendix B

2015-BCC-ML-1/1

Developer Credits

In reviewing the process to track developer credits, we continue to note that there is not a timely reconciliation being performed between amounts per the Clerk’s office and the amounts per the Permitting Department. We recommend the Clerk’s office create a formal procedure to periodically reconcile their data to the Permitting Department activity to ensure the completeness and accuracy.

Management Response

Management will continue to work with County management to ensure documentation is provided in a timely manner. Management will create a formal procedure to allow the Clerk's Office to perform audits bi-annually on the data provided by the Permitting Department.

Independent Accountants’ Report


We have examined Pasco County, Florida’s (the County) compliance with Section 218.415, Florida Statutes as of September 30, 2015. Management is responsible for the County’s compliance with those requirements. Our responsibility is to express an opinion on the County’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the County’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the County’s compliance with specified requirements.

In our opinion Pasco County, Florida complied, in all material respects, with the aforementioned requirements as of September 30, 2015.






We have examined Pasco County, Florida’s (the County) compliance with Section 365.172(10), Florida Statutes during the year ended September 30, 2015. Management is responsible for the County’s compliance with those requirements. Our responsibility is to express an opinion on the County’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the County’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the County’s compliance with specified requirements.

In our opinion, Pasco County, Florida complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2015.




PASCO COUNTY, FLORIDA CLERK OF CIRCUIT COURT AND COUNTY COMPTROLLER

FINANCIAL STATEMENTS

YEAR ENDED SEPTEMBER 30, 2015

(WITH INDEPENDENT AUDITORS’ REPORT THEREON)


TABLE OF CONTENTS YEAR ENDED SEPTEMBER 30, 2015

INDEPENDENT AUDITORS’ REPORT 1

FINANCIAL STATEMENTS

Balance Sheet – Governmental Funds 4

Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds 5

Statement of Net Position – Internal Service Fund 6

Statement of Revenues, Expenses, and Changes in Net Position – Internal Service Fund 7

Statement of Cash Flows – Internal Service Fund 8

Statement of Fiduciary Net Position – Agency Fund 9

Notes to Financial Statements 10

REQUIRED SUPPLEMENTARY INFORMATION

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – General Fund (Budgetary Basis) 25

Notes to the Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – General Fund (Budgetary Basis) 26

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Fine and Forfeiture Fund 27

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Public Records Modernization Fund 28

Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Records Modernization Article V Fund 29

SUPPLEMENTARY INFORMATION

Combining Balance Sheet – General Fund 30

Combining Statement of Revenues, Expenditures and Changes in Fund Balances – General Fund 31

Combining Balance Sheet – Nonmajor Governmental Funds 32

Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds 33

Statement of Changes in Assets and Liabilities – Agency Fund 34


TABLE OF CONTENTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2015

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 35

MANAGEMENT LETTER 37

INDEPENDENT ACCOUNTANTS' REPORT – SECTION 218.45, FLORIDA STATUTES 41

INDEPENDENT ACCOUNTANTS' REPORT – SECTION 28.35 AND 28.36, FLORIDA STATUTES 42


Honorable Paula S. O’Neil, Ph.D., Clerk of Circuit Court and County Comptroller, Pasco County, Florida:

We have audited the accompanying financial statements of each major fund and the aggregate remaining fund information of the Pasco County, Florida Clerk of Circuit Court and County Comptroller (the Clerk & Comptroller), as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Clerk & Comptroller’s basic financial statements as listed in the table of contents.





An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in thefinancial 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.


Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of each major fund, and the aggregate remaining fund information of the Clerk & Comptroller as of September 30, 2015, and the respective changes in financial position, and where

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applicable, cash flows thereof, for the year then ended, in accordance with U.S. generally accepted accounting principles.

Emphasis of Matter

As discussed in note 1(a) to the financial statements, the accompanying financial statements were prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These financial statements are not intended to be a complete presentation of the financial position of the Clerk & Comptroller as of September 30, 2015, and the changes in its financial position and, where applicable, its cash flows for the year then ended, in conformity with U.S. generally accepted accounting principles. Our opinions are not modified with respect to this matter.

Other Matters

Required Supplementary Information

U.S. generally accepted accounting principles require that the budgetary comparison information for the general, fine and forfeiture, public records modernization, and records modernization Article V funds on pages 25 - 29, 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.

Supplementary Information

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Clerk & Comptroller’s basic financial statements. The combining balance sheets for the general and nonmajor governmental funds, the combining statements of revenues, expenditures, and changes in fund balances for the general and nonmajor governmental funds, and the statement of changes in assets and liabilities – agency funds are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining balance sheets for the general and nonmajor governmental funds, the combining statements of revenues, expenditures, and changes in fund balances for the general and nonmajor governmental funds, and the statement of changes in assets and liabilities – agency funds are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining balance sheets for the general and nonmajor governmental funds, the combining statements of revenues, expenditures, and changes in fund balances for the general and nonmajor governmental funds, and the statement of changes in assets and liabilities – agency funds are fairly stated in all material respects in relation to the basic financial statements as a whole.


In accordance with Government Auditing Standards, we have also issued our report dated April 21, 2016 on our consideration of the Clerk & Comptroller’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 Clerk & Comptroller’s internal control over financial reporting and compliance.

April 21, 2016 Certified Public Accountants

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STATEMENT OF NET POSITION INTERNAL SERVICE FUND

SEPTEMBER 30, 2015

See accompanying Notes to Financial Statements. 6

Assets

Cash and cash equivalents 5,361,277$ Other assets 138,500

Total assets 5,499,777 Liabilities and Net Position

Liabilities:Claims payable 401,024

Total liabilities 401,024 Net position:

Unrestricted 5,098,753$


STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION INTERNAL SERVICE FUND



Operating revenues:

Charges for services 3,170,738$ Operating expenses:

Contractual services 4,082,704 Operating loss (911,966)

Nonoperating revenues:Interest and other earnings 4,158

Total nonoperating revenues 4,158

Transfers in 1,343,642 Change in net position 435,834

Net position at beginning of year 4,662,919 Net position at end of year 5,098,753$


STATEMENT OF CASH FLOWS INTERNAL SERVICE FUND



Cash flows from operating activities:

Receipts from customers 355,595$ Receipts from employees 558,060 Receipts from interfund services provided 2,257,083 Payments to suppliers for goods and services (4,090,835)

Net cash used in operating activities (920,097)

Cash flows from noncapital financing activity:Transfers from other funds 1,343,642

Net cash provided by noncapital financing activity 1,343,642

Cash flows from investing activity:Interest and other earnings 4,158

Net cash provided by investing activity 4,158

Net increase in cash and cash equivalents 427,703

Cash and cash equivalents at October 1, 2014 4,933,574

Cash and cash equivalents at September 30, 2015 5,361,277$

Reconciliation of operating loss to net cash used in operating activities:Operating loss (911,966)$ Adjustments to reconcile operating loss to net cash used in operating

activities:Changes in assets and liabilities:

Increase in other assets (6,086) Decrease in claims payable (2,045)

Total adjustments (8,131)

Net cash used in operating activities (920,097)$


STATEMENT OF FIDUCIARY NET POSITION AGENCY FUND

SEPTEMBER 30, 2015


Assets:

Cash and cash equivalents 12,900,893$ Total assets 12,900,893$

Liabilities:Due to Board of County Commissioners 245,147$ Due to other governments 3,625,877 Deposits 9,029,869

Total liabilities 12,900,893$


NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2015

10

(1) Summary of Significant Accounting Policies

(a) Reporting Entity

The Pasco County, Florida, Clerk of Circuit Court and County Comptroller (the Clerk & Comptroller) is an elected constitutional officer as provided for by Article VIII, Section 1(d) of the Constitution of the State of Florida. Governmental Accounting Standards Board (GASB) Statement No. 14, The Financial Reporting Entity as amended by GASB Statement No. 61, The Financial Reporting Entity: Omnibus, requires the financial statements of a reporting entity to include its component units, if any. A component unit is a legally separate organization for which the elected officials of the primary government or financial reporting entity are financially accountable. Based on the aforementioned criteria, there are no component units included in the Clerk & Comptroller’s financial statements. The financial statements include the general, special revenue, proprietary (internal service), and agency funds of the Clerk & Comptroller. These financial statements have been prepared for the purpose of complying with Section 218.39(2), Florida Statutes, and Chapter 10.550, Rules of the Auditor General – Local Governmental Entity Audits, which allows the Clerk & Comptroller to only present fund financial statements. Accordingly, due to the omission of government-wide financial statements and certain disclosures, as well as management’s discussion and analysis, these financial statements do not constitute a complete presentation of the financial position of the Clerk & Comptroller as of September 30, 2015, and the changes in its financial position and its cash flows, where applicable, for the year then ended, in conformity with GASB Statement No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments, but otherwise constitute financial statements prepared in conformity with U.S. generally accepted accounting principles (GAAP). As a constitutional officer, the financial activities of the Clerk & Comptroller are included in the Pasco County, Florida, (the County) Comprehensive Annual Financial Report.

(b) Measurement Focus, Basis of Accounting, and Basis of Presentation Fund financial statements report detailed information about the Clerk & Comptroller. The focus of governmental fund financial statements is on major funds rather than on reporting funds by type. Each major fund is reported in a separate column. Governmental Funds Governmental funds are accounted for using the flow of current financial resources measurement focus. Only current assets and current liabilities, generally, are included on the balance sheet. Operating statements for these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in fund balance. In addition to the general fund, the Clerk & Comptroller has special revenue funds to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. The Clerk & Comptroller reports the following major funds, all of which are governmental:



11

(1) Summary of Significant Accounting Policies (Continued) (b) Measurement Focus, Basis of Accounting, and Basis of Presentation (Continued)

General Fund The general fund is used to account for the general operations of the Clerk & Comptroller, and includes all transactions, which are not accounted for in another fund. With the implementation of Revision 7 to Article V on July 1, 2004, the Clerk & Comptroller’s activities are classified as court-related and noncourt-related. The Clerk & Comptroller’s General Fund activity is funded through service charges for recording instruments and documents into the official records, and through appropriations from the Pasco County Board of County Commissioners (the Board). Excess revenues at the end of the year, due back to the Board, are shown as a liability to the Board of County Commissioners in the General Fund. Special Revenue Funds Fine and Forfeiture Fund

This special revenue fund was established to account for court-related filing fees, service charges, fines, and court costs of the Clerk of Circuit Court and County Comptroller, as mandated by Section 28.35 and 28.37, Florida Statutes. The Fine and Forfeiture fund accounts for court-related activities that are funded by the collection of charges for services, fines and forfeitures. In the event the collection of such fees does not cover expenditures of the fund, the State will fund the difference up to the annual budget authority. Revenue in this fund is restricted and is to be used exclusively for funding court-related operations and, therefore, is reported as a special revenue fund. Public Records Modernization Fund

This special revenue fund accounts for service charges paid to the Clerk & Comptroller, for recording instruments in the official records, which are used exclusively for equipment, personnel training, and technical assistance in modernizing the official records system, as mandated by Section 28.24(12)(d), Florida Statutes. The Public Records Modernization fund is funded by a portion of recording fees. Since Revision 7 of Article V, Florida Constitution, went into effect on July 1, 2004, an additional amount is collected pursuant to Section 28.24(12)(e), Florida Statutes, and is used exclusively for funding court-related technology needs. In addition, Section 28.37(5), Florida Statutes, mandates that 10% of all court-related fines collected by the Clerk & Comptroller shall be deposited into the Clerk & Comptroller’s Public Records Modernization Trust Fund and used exclusively for additional court-related operational needs and program enhancements.



12


Records Modernization Article V Fund

This special revenue fund was established to account for the additional amounts collected pursuant to Section 28.24(12)(e), Florida Statutes, which is used exclusively for funding court-related technology needs. Transfers from the general fund to the Article V fund occur when expenditures in the Article V fund exceed revenues. Nonmajor Funds – Governmental The Clerk & Comptroller also has two nonmajor special revenue funds, the Child Support Incentive Fund and the Foreclosure Surplus Fee Fund. Special revenue funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. Proprietary Fund Proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services, and from producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. Internal Service Fund This fund is used to account for the health insurance services provided to departments of the Clerk & Comptroller on a cost reimbursement basis. The operating revenues of the Clerk & Comptroller’s internal service fund are charges for services to other funds. Operating expenses of this fund include claims payments and other contracted services. Fiduciary Funds Agency Funds These funds are used to account for assets held by the Clerk & Comptroller in an agency capacity for individuals, private organizations, and other governments. Agency funds are custodial in nature (assets equal liabilities), and do not involve measurement of results of operations or have a measurement focus. Agency funds are accounted for using the accrual basis of accounting.



13


Basis of Accounting The modified accrual basis of accounting is used by governmental funds. Under the modified accrual basis of accounting, revenue is recognized when susceptible to accrual (i.e., when it becomes measurable and available to finance liabilities of the current fiscal year). For this purpose, the Clerk & Comptroller considers revenues to be available if they are collected within sixty days of the end of the current period. Expenditures are recorded when the related fund liability is incurred, except for certain compensated absences, which are recognized as expenditures to the extent they have matured. In applying the susceptible to accrual concept to intergovernmental revenue, there are essentially two types of revenue. In one, funds must be expended for the specific purpose or project before any amounts will be paid to the Clerk & Comptroller; therefore, revenue is recognized based upon the expenditures incurred. Grant revenue is recorded in this manner. In the other, funds are virtually unrestricted and are revocable only for failure to comply with prescribed compliance requirements. These resources are reflected as revenue at the time of receipt, or earlier, if the “susceptible to accrual” criteria are met. Interest income and other revenue are recognized as they are earned and become measurable and available to pay liabilities of the current period.

The general operations of the Clerk & Comptroller are funded, principally by fees from third parties and appropriations from the Board. The appropriations from the Board are presented in the Clerk & Comptroller’s financial statements as transfers in. Florida Statutes provide that, in those years when there exists an excess of revenues and other financing sources over expenditures, other uses, and encumbrances held by the Clerk & Comptroller at fiscal year-end, such excess is to be distributed to the Board immediately following the fiscal year during which other revenues were recognized. The amount of such excess appropriations at the end of a fiscal year is recorded as a liability and as other financing use in the accompanying financial statements. Capital outlays expended in governmental fund operations are capitalized in the basic financial statements of the Board rather than in the governmental funds of the Clerk & Comptroller.

(c) Cash and Cash Equivalents

Cash balances are pooled for investment purposes, with the exception of some minor balances. Interest earned from pooled cash is allocated to the respective funds based on each fund’s average equity in the pooled fund. For purposes of the statement of cash flows, the Clerk & Comptroller considers highly liquid investments with a maturity of three months or less when purchased to be cash and cash equivalents.



14

(1) Summary of Significant Accounting Policies (Continued)

(c) Cash and Cash Equivalents (Continued) The Clerk & Comptroller participates in Florida PRIME, the local government investment pool of the Florida State Board of Administration (SBA), with Rule 2a-7 under the Investment Company Act of 1940 (the “1940 Act”). Rule 2a-7 is the rule that permits money market funds to use amortized cost to maintain a constant net asset value (“NAV”) of $1.00 per share, provided that such funds meet certain conditions. In June 2010, GASB issued Statement 59, Financial Instruments Omnibus. GASB 59 clarifies the definition of a “2a-7 like” pool as an “external investment pool that operates in conformity with the Securities and Exchange Commission’s (SEC) Rule 2a-7 as promulgated under the Investment Company Act of 1940, as amended.”

(d) Fund Balances and Spending Policy In accordance with GASB No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, the components of the fund balances of governmental funds are classified as follows: Nonspendable Fund Balance Amounts that are not in spendable form (such as inventory and prepaid items), or are legally or contractually required to be maintained intact. Spendable Fund Balance Restricted Fund Balance – Amounts that can be used only for the specific purposes stipulated by (a) external resource providers such as creditors, grantors, contributors, or laws and regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislation. Assigned Fund Balance – Includes spendable fund balance amounts established by the Clerk & Comptroller, or by the Clerk & Comptroller’s designee that are intended to be used for specific purposes that are considered neither restricted or committed. The Clerk & Comptroller 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 Clerk & Comptroller 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 Clerk & Comptroller will first use unassigned amounts, then assigned amounts, then committed amounts, and finally restricted amounts.



15

(1) Summary of Significant Accounting Policies (Continued) (e) Compensated Absences

The Clerk & Comptroller’s employees accumulate annual leave based on years of continuous service. Upon termination of employment, employees can receive payment for accumulated leave time, if they meet certain criteria. Payments for accumulated leave time are included in operating costs when the payments are made to employees. The Clerk & Comptroller does not, and is not legally required to, accumulate expendable financial resources for these unmatured obligations. Accordingly, the liability for compensated absences is not reported in the governmental funds, but rather is reported in the government-wide financial statements of the County.

(f) Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires management of the Clerk & Comptroller to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates.

(g) New Accounting Pronouncement The County has adopted GASB Statement No. 68 – Accounting and Financial Reporting for Pensions – an amendment of GASB Statement No. 27 and Statement No. 71 – Pension Transition for Contributions Made Subsequent to the Measurement Date – an amendment of GASB Statement No. 68. The objective of GASB Statement No. 68 is to improve accounting and financial reporting for pensions. The objective of GASB Statement No. 71 is to address an issue regarding the application of transition provisions of GASB Statement No. 68. The liability for pensions is not reported in the governmental funds of the Clerk & Comptroller, but rather is reported in the government-wide financial statements of the County.



16

(2) Budgetary Process The portion of the annual operating budget of the Clerk & Comptroller that is funded through an appropriation from the Board is submitted to the Board for approval. Consequently, funding for the operations of the Clerk & Comptroller is provided from general revenues of the Board and is supplemented by fees charged by the Clerk & Comptroller pursuant to Florida Statutes. Pursuant to Section 28.36, Florida Statutes, a balanced court-related budget must be prepared on or before October 1 and submitted to the Florida Clerks of Court Operations Corporation (the Corporation). The Corporation shall complete its review and adjustments to the various clerks’ budget requests and make its recommendations to the Legislature and Supreme Court by December 1 each year. The budget for the general fund, except for the court facilities revenues and expenditures, which are not budgeted, are prepared in accordance with GAAP. The budget for special revenue funds, except for the child support incentive and foreclosure surplus fee funds, which are not budgeted, are prepared in accordance with GAAP. The annual budget serves as the legal authorization for expenditures. Any subsequent amendments to the Clerk & Comptroller’s appropriation funded by the Board must be approved by the Board, and any subsequent amendments of the court-related budget must be approved by the Corporation. Expenditures may not legally exceed appropriations at the fund level. Budgetary control is maintained at the fund level. Budgetary changes within major object expenditure categories are made at the discretion of the Clerk & Comptroller. The original budget is the first complete appropriated budget. The final budget is the original budget adjusted by all supplemental appropriations and other legally authorized changes applicable to the fiscal year, whenever legally authorized.

(3) Cash and Cash Equivalents At September 30, 2015, the carrying value of the Clerk & Comptroller’s cash and cash equivalents was as follows:

Carrying CreditValue Rating Maturities

Cash and cash equivalents:Cash on hand 21,625$ N/A N/ADemand Deposits 9,993,234 N/A N/AMoney Market Fund 6,856,344 N/A N/AFlorida PRIME 8,152,902 AAAm 28 days

Total cash and cash equivalents 25,024,105$

Type

Such amounts are reported as $6,761,935, $5,361,277, and $12,900,893 in the governmental funds, proprietary fund, and agency fund, respectively.



17

(a) Custodial Credit Risk At September 30, 2015, the Clerk & Comptroller’s deposits were entirely covered by federal depository insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida Statutes. Under this chapter, in the event of default by a participating financial institution (a qualified public depository), all participating institutions are obligated to reimburse the governmental entity for the loss.

(b) Credit Risk The Clerk & Comptroller’s policy is to follow the guidance in Sections 219.075 and 218.415, Florida Statutes. Investment transactions are limited to qualified public depositories or Florida PRIME, an external investment pool administered by the Florida State Board of Administration (SBA).

(c) Interest Rate Risk The Clerk & Comptroller’s investment policy limits investment maturities to less than five years. As of September 30, 2015, the only investments held by the Clerk & Comptroller were Florida PRIME, which are treated as cash equivalents. These investments are in compliance with the Clerk & Comptroller’s investment policy.

(4) Capital Assets Capital assets used in governmental fund type operations are capitalized by the Board of County Commissioners and reported in the basic financial statements of the County rather than in the governmental funds of the Clerk & Comptroller. Upon acquisition, such assets are recorded as expenditures in the governmental funds of the Clerk & Comptroller. Capital assets are valued at historical cost or at estimated historical cost if actual historical cost is not available. Donated capital assets are valued at their estimated fair value on the date received. The Clerk & Comptroller has custodial responsibility for the capital assets of the office. No depreciation expense has been provided on capital assets in these financial statements. However, depreciation expense on these capital assets is reported in the basic financial statements of the County.

(5) Long-Term Liabilities The amount of compensated absences recorded as expenditures in the general fund, if any, is the amount accrued during the year that have matured and would normally be liquidated with expendable available financial resources. The amount of compensation earned is reported as net additions. Amounts no longer payable, due to employee termination and amounts used during the year for all employees, are reported as reductions. The Clerk & Comptroller has accrued compensated absences in accordance with GASB Statement No. 16, Accounting for Compensated Absences. This statement requires the compensated absences liability to be measured using pay or salary rates in effect at the balance sheet date. It also requires additional amounts to be accrued for certain salary-related payments associated with the payment of compensated absences. The following is a summary of changes in general long-term liabilities, which are reported in the basic financial statements of the County:



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(5) Long-Term Liabilities (Continued) Balance, Balance,

October 1, September 30,2014 Additions Reductions 2015

Accrued compensatedabsences 804,127$ 127,986$ (175,318)$ 756,795$

Of these liabilities, approximately $106,000 is expected to be paid during the fiscal year ended September 30, 2016. These long-term liabilities are not reported in the financial statements of the Clerk & Comptroller since they have not matured.

(6) Employee Retirement Plan Florida Retirement System: General Information - All of the Clerk & Comptroller’s employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (“Pension Plan”) and the Retiree Health Insurance Subsidy (“HIS Plan”). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (“Investment Plan”) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (“SBA”). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature. The State of Florida annually issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The latest available report may be obtained by writing to the State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site: www.dms.myflorida.com/workforce_operations/retirement/publications. Pension Plan Plan Description – The Pension Plan is a cost-sharing multiple-employer defined benefit pension plan, with a Deferred Retirement Option Program (“DROP”) for eligible employees. Benefits Provided - Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five



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highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers’ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of credited service for all these members and increasing normal retirement to age 65 or 33 years of service regardless of age for Regular, Senior Management Service, and Elected Officers’ class members, and to age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support class members. Also, the final average compensation for all these members will be based on the eight highest years of salary.

As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of- living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement. In addition to the above benefits, the DROP program allows eligible members to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. There are no required contributions by DROP participants. Contributions – Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for



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the periods from October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively, were as follows: Regular—7.37% and 7.26%; Senior Management Service—21.14% and 21.43%; Elected Officers’—43.24% and 42.27%; and DROP participants—12.28% and 18.75%. These employer contribution rates include a HIS Plan subsidy of 1.20% and 1.26% for the periods October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively.

The Clerk & Comptroller’ contributions, excluding employee contributions, to the Pension Plan totaled approximately $941,000 for the fiscal year ended September 30, 2015.

Payables to the Pension Plan - At September 30, 2015, The Clerk & Comptroller reported a payable in the amount of $71,000 for outstanding contributions to the Pension Plan required for the fiscal year ended September 30, 2015. Such amounts are recorded as accrued liabilities in the accompanying balance sheet – governmental funds.

HIS Plan

Plan Description – The HIS Plan is a cost-sharing multiple-employer defined benefit pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any time. The benefit is a monthly payment to assist retirees of State-administered retirement systems in paying their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement.

Benefits Provided – For the fiscal year ended September 30, 2015, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be eligible to receive these benefits, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which may include Medicare.

Contributions – The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2015, the HIS contribution for the period October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015 was 1.20% and 1.26%, respectively. The County, on behalf of the Clerk & Comptroller, contributed 100% of its statutorily required contributions for the current year. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled.

Contributions to the HIS Plan are made by the County on behalf of the Clerk & Comptroller.



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Investment Plan The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The Investment Plan is reported in the SBA’s annual financial statements and in the State of Florida Comprehensive Annual Financial Report. As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member's accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% of payroll and by forfeited benefits of plan members. Allocations to the investment member's accounts during the 2014-15 fiscal year, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%, Senior Management Service class 7.67% and County Elected Officers class 11.34%. For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS-covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five-year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2015, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the County. After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump- sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive



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guaranteed lifetime monthly benefits under the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income.

The Clerk & Comptroller’ Investment Plan pension expense totaled approximately $196,000 for the fiscal year ended September 30, 2015.

As required by GASB Statement No. 68, Accounting and Financial Reporting for Pensions, liabilities related to the Clerk & Comptroller’s participation in the Pension and HIS Plans are reported in the government wide financial statements of the County.

Other Postemployment Benefits The Clerk & Comptroller provides postretirement healthcare benefits in accordance with Section 110.123, Florida Statutes, to all employees who retire from the employment of the Clerk & Comptroller. To be eligible for postretirement healthcare benefits, the retiree must have at least six years of service. For retirees with more than six years of service, but less than 30 years of service, the Clerk & Comptroller provides a health subsidy service credit. The monthly premium for medical insurance is discounted $5.00 per month, per year of service, until the retiree turns 65 years of age. Retirees with 30 or more years of service pay $150 per month to receive postretirement healthcare benefits; however, they are reimbursed by the state subsidy which is included with their retirement check. At 65 years of age, retirees who wish to continue coverage will pay the full monthly premium in effect at that time, and the coverage will be secondary to Medicare. As required by GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postretirement Benefits Other Than Pensions, liabilities and activities related to these benefits are reported in the government-wide financial statements of the County.



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(7) Risk Management The Clerk & Comptroller is exposed to various risks of loss, including, but not limited to, general liability, auto liability, and workers’ compensation. The County has established a risk management program to self-insure claims against the Board and the constitutional officers for various risks. The Clerk & Comptroller participates in the County’s risk management program. The County has general liability insurance with $500,000 retention per claim and $1,000,000 retention per occurrence and $2,000,000 aggregate. Negligence claims in excess of the statutory limits set in Florida Statutes, Section 768.28, which provide for limited sovereign immunity of $100,000/$200,000 per occurrence can only be recovered through an act of the State Legislature. Effective October 1, 2011, sovereign immunity limits were increased to $200,000 per claim and $300,000 per occurrence for claims incurred after that date. The County had workers’ compensation insurance with a $650,000 deductible per occurrence for police/fire and a $500,000 deductible per occurrence for all other coverages. Settlements have not exceeded coverage in any of the past three fiscal years. All liabilities associated with these self insured risks are reported in the basic financial statements of the County. The Clerk & Comptroller has an insurance fund that accounts for a self-insured plan for employee group health, dental, vision, and prescription drugs. As of September 30, 2015, the insurance fund had $5,098,753 of available net assets to fund claims liabilities. The claims liability of $401,024 reported in the Internal Service fund Statement of Net Position at September 30, 2015 is based on the provisions of GASB Statement No. 10, Accounting and Financial Reporting for Risk Financing and Related Insurance Issues, which requires that a liability for unpaid claims costs, including estimates of costs related to incurred but not reported claims, be accrued when insured events occur. Changes in claims liability amounts during the past two fiscal years are as follows:

New ClaimsBalance, and Changes Claim Balance,

October 1, in Estimates Payments September 30,Fiscal year:

470,192$ 2,458,074$ 2,525,197$ 403,069$ 403,069 3,120,095 3,122,140 401,024

20142015



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(8) Claims and Contingencies (a) Federal and State Grants

Grant funds received by the Clerk & Comptroller are subject to audit by grantor agencies. Audits of these grants may result in disallowed costs, which may constitute a liability of the Clerk & Comptroller. In the opinion of management, disallowed costs, if any, would be immaterial to the financial position of the Clerk & Comptroller.

(b) Litigation The Clerk & Comptroller is involved as defendant or plaintiff in certain litigation and claims arising from the ordinary course of operations. Any judgments against the Clerk & Comptroller would be settled by the Board. In the opinion of the Clerk & Comptroller and legal counsel, the range of potential recoveries or liabilities will not materially affect the financial position of the Clerk & Comptroller.

REQUIRED SUPPLEMENTARY INFORMATION


SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL– GENERAL FUND (BUDGETARY BASIS)


See accompanying Note to Schedule and accompanying Independent Auditors’ Report. 25

Variance with

Actual Final BudgetBudgeted amounts (Budgetary Favorable

Original Final Basis) (Unfavorable)Revenues:

Intergovernmental 390,000$ 390,000$ 439,258$ 49,258$ Charges for services 2,366,545 2,882,741 2,872,444 (10,297) Interest and other earnings 18,903 18,903 7,202 (11,701) Miscellaneous 3,279,827 3,151,591 3,103,372 (48,219)

Total revenues 6,055,275 6,443,235 6,422,276 (20,959) Expenditures:

Current:General government (noncourt related) 8,630,387 8,562,843 8,540,559 22,284

Total expenditures 8,630,387 8,562,843 8,540,559 22,284 Excess (deficiency) of

revenues over expenditures (2,575,112) (2,119,608) (2,118,283) 1,325 Other financing sources (uses):

Transfers in:Appropriations from the Board of

County Commissioners 3,152,274 3,232,274 3,230,949 (1,325) Transfers out:

To other funds (577,162) (1,537,006) (1,537,006) - Total other financing sources 2,575,112 1,695,268 1,693,943 (1,325) Net change in fund balances - (424,340) (424,340) -

Fund balances at beginning of year 424,340 424,340 424,340 - Fund balances at end of year 424,340$ -$ -$ -$


NOTES TO THE SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES – BUDGET AND ACTUAL – GENERAL FUND (BUDGETARY BASIS)


See accompanying Independent Auditors’ Report. 26

(1) Reconciliation of Budgeted Revenues and Expenses to Actual

The actual results of operations in the statement of revenues, expenditures, and changes in fund balance – budget to actual – general fund are presented on a budgetary basis. Adjustments to convert the results of operations at the end of the year from the budgetary basis of accounting to the GAAP basis of accounting are as follows:

Total Total FundRevenues Expenditures Balance

General Fund - Budgetary basis 6,422,276$ 8,540,559$ -$ Court Facilities - Nonbudgeted activity 82 - 95,778

Total General Fund 6,422,358$ 8,540,559$ 95,778$


SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL – FINE AND FORFEITURE FUND


See accompanying Independent Auditors’ Report.

27

Variance withFinal Budget

Budgeted amounts FavorableOriginal Final Actual (Unfavorable)

Revenues:Intergovernmental 4,276,176$ 4,004,116$ 4,699,294$ 695,178$ Charges for services 6,377,797 6,220,289 5,855,464 (364,825) Fines and forfeitures 1,515,360 1,515,360 1,361,853 (153,507) Interest and other earnings 1,385 1,385 1,243 (142) Miscellaneous 8,843 8,843 5,647 (3,196)

Total revenues 12,179,561 11,749,993 11,923,501 173,508

Expenditures:Current:

Court related 12,389,764 12,492,764 11,700,660 792,104



Fund balances at beginning of year 742,771 742,771 742,771 -

Fund balances at end of year 532,568$ -$ 965,612$ 965,612$


SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL – PUBLIC RECORDS MODERNIZATION FUND



28



Revenues:Charges for services 244,719$ 244,719$ 285,490$ 40,771$ Interest and other earnings 6,515 6,515 2,255 (4,260)

Total revenues 251,234 251,234 287,745 36,511

Expenditures:Current:

General government (noncourt related) 843,029 843,029 546,680 296,349

Total expenditures 843,029 843,029 546,680 296,349 Excess (deficiency) of

revenues over expenditures (591,795) (591,795) (258,935) 332,860

Fund balances at beginning of year 2,462,996 2,462,996 2,462,996 -

Fund balances at end of year 1,871,201$ 1,871,201$ 2,204,061$ 332,860$


SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL – RECORDS MODERNIZATION ARTICLE V FUND



29



Revenues:Charges for services 726,701$ 886,701$ 871,623$ (15,078)$ Fines and forfeitures 464,346 379,346 366,034 (13,312) Interest and other earnings 42 42 232 190 Miscellaneous 570,160 497,577 517,095 19,518

Total revenues 1,761,249 1,763,666 1,754,984 (8,682) Expenditures:

Current:Court related 2,338,411 2,333,836 2,325,154 8,682

Total expenditures 2,338,411 2,333,836 2,325,154 8,682 Excess (deficiency) of revenues

over expenditures (577,162) (570,170) (570,170) - Other financing sources (uses):

Transfers in 577,162 193,364 193,364 - Total other financing sources 577,162 193,364 193,364 - Net change in fund balances - (376,806) (376,806) -

Fund balances at beginning of year 376,806 376,806 376,806 - Fund balances at end of year 953,968$ -$ -$ -$

SUPPLEMENTARY INFORMATION


COMBINING BALANCE SHEET GENERAL FUND

SEPTEMBER 30, 2015


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Total

Assets General Court Facilities General Fund

Cash and cash equivalents 2,853,632$ 95,778$ 2,949,410$ Accounts receivable 354,425 - 354,425 Due from:

Board of County Commissioners 145,482 - 145,482 Other governments 2,456 - 2,456 Constitutional officers 2,108 - 2,108

Prepaid expenditures 21,520 - 21,520 Total assets 3,379,623$ 95,778$ 3,475,401$

Liabilities and Fund BalancesLiabilities:

Vouchers payable 238,452$ -$ 238,452$ Accrued liabilities 291,918 - 291,918 Escrow deposits 2,844,737 - 2,844,737 Other current liabilities 4,516 - 4,516

Total liabilities 3,379,623 - 3,379,623 Fund balances:

Nonspendable - prepaids 21,520 - 21,520 Restricted - 95,778 95,778 Unassigned (21,520) - (21,520)

Total fund balances - 95,778 95,778 Total liabilities and

fund balances 3,379,623$ 95,778$ 3,475,401$

PASCO COUNTY, FLORIDA CLERK OF CIRCUIT COURT AND COUNTY COMPTROLLER COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES - GENERAL FUND YEAR ENDED SEPTEMBER 30, 2015


31

Court Total

General Facilities General FundRevenues:

Intergovernmental 439,258$ -$ 439,258$ Charges for services 2,872,444 (7) 2,872,437 Interest and other earnings 7,202 89 7,291 Miscellaneous 3,103,372 - 3,103,372

Total revenues 6,422,276 82 6,422,358 Expenditures:

Current:General government (noncourt related) 8,540,559 - 8,540,559

Total expenditures 8,540,559 - 8,540,559 Excess (deficiency) of

revenues over expenditures (2,118,283) 82 (2,118,201) Other financing sources (uses):

Transfers in:Appropriations from the Board of

County Commissioners 3,230,949 - 3,230,949 Transfers out:

To other funds (1,537,006) - (1,537,006) Total other financing

sources (uses) 1,693,943 - 1,693,943 Net change in fund balances (424,340) 82 (424,258)

Fund balances at beginning of year 424,340 95,696 520,036 Fund balances at end of year -$ 95,778$ 95,778$


COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS

SEPTEMBER 30, 2015


32

Total

Child NonmajorSupport Foreclosure GovernmentalIncentive Surplus Fee Funds

AssetsCash and cash equivalents 124,045$ 12,287$ 136,332$

Total assets 124,045$ 12,287$ 136,332$

Liabilities and Fund BalancesTotal liabilities -$ -$ -$ Fund balances:

Restricted 124,045 12,287 136,332 Total fund balances 124,045 12,287 136,332 Total liabilities and

fund balances 124,045$ 12,287$ 136,332$

PASCO COUNTY, FLORIDA CLERK OF CIRCUIT COURT AND COUNTY COMPTROLLER COMBINING STATEMENT OF REVENUES, EXPENDITURES

AND CHANGES IN FUND BALANCES - NONMAJOR GOVERNMENTAL FUNDS YEAR ENDED SEPTEMBER 30, 2015


33

Total

Child NonmajorSupport Foreclosure GovernmentalIncentive Surplus Fee Funds

Revenues:Charges for services -$ 2,731$ 2,731$ Interest and other earnings 116 10 126

Total revenues 116 2,741 2,857 Net change in fund balances 116 2,741 2,857

Fund balances at beginning of year 123,929 9,546 133,475 Fund balances at end of year 124,045$ 12,287$ 136,332$


STATEMENT OF CHANGES IN ASSETS AND LIABILITIES – AGENCY FUND SEPTEMBER 30, 2015

34 See accompanying Independent Auditors’ Report.

Balance, Balance,October 1, September 30,

2014 Additions Deletions 2015

Assets:Cash and cash equivalents 17,760,994$ 119,098,109$ 123,958,210$ 12,900,893$

Total assets 17,760,994$ 119,098,109$ 123,958,210$ 12,900,893$

Liabilities:

Due to:Board of County Commissioners -$ 245,147$ -$ 245,147$ Other governments 4,586,410 164,494,835 165,455,368 3,625,877

Deposits 13,174,584 62,801,681 66,946,396 9,029,869

Total liabilities 17,760,994$ 227,541,663$ 232,401,764$ 12,900,893$

Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements

Performed in Accordance with Government Auditing Standards

Honorable Paula S. O’Neil, Ph.D., Clerk of Circuit Court and County Comptroller Pasco County, Florida:

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of each major fund, and the aggregate remaining fund information of the Pasco County, Florida Clerk of Circuit Court and County Comptroller, as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s basic financial statements, and have issued our report thereon dated April 21, 2016 which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.


In planning and performing our audit, we considered the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s internal control over financial reporting as a basis for designing our auditing procedures 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 Pasco County, Florida Clerk of Circuit Court and County Comptroller’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s internal control.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to warrant 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 those 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.


As part of obtaining reasonable assurance about whether the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s financial statements are free of material misstatement, we performed tests of its



compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.


The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Pasco County, Florida Clerk of Circuit Court and County Comptroller’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 Pasco County, Florida Clerk of Circuit Court and County Comptroller’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


Management Letter

Honorable Paula S. O’Neil, Ph.D.,Clerk of Circuit Court and County Comptroller,

Pasco County, Florida:

We have audited the financial statements of each major fund and the aggregate remaining fund information of the Pasco County, Florida Clerk of Circuit Court and County Comptroller (the Clerk & Comptroller), as of and for the year ended September 30, 2015, and have issued our report thereon dated April 21, 2016,which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.

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. We have also issued our report dated April 21, 2016 on our consideration of the Clerk & Comptroller’s internal control over financial reporting and on our test of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. Disclosures in that report, if any, should be considered in conjunction with this management letter.

Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General,which govern the conduct of local governmental entity audits performed in the State of Florida, and require that certain items be addressed in this letter.

Prior Audit Findings

The Rules of the Auditor General, Section 10.554(1)(i)(1), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. The status of prior year findings is included in Appendix A.

Other Matters

The Rules of the Auditor General, Section 10.554(1)(i)(2), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, any recommendations to improve the Clerk & Comptroller’s financial management. In connection with our audit, we did not have any such recommendations.

The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in the management letter any violations of provisions of contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.



The Rules of the Auditor General, Section 10.556(10)(d), require an examination pursuant to AICPAProfessional Standards, AT Section 601 regarding a clerk of the courts’ compliance with Section 61.181, Florida Statutes. Because the Florida Department of Revenue has access to the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s CSE System, and all transactions are processed through State Disbursement Unit, this examination was not required.

Official Title and Legal Authority

The Rules of the Auditor General, Section 10.554(1)(i)(4), also require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. In that regard, the Clerk & Comptroller was established by the Constitution of the State of Florida, Article VIII, Section 1(d). The Clerk & Comptroller does not have any component units.

* * * * * * *

This management letter is intended solely for the information of the Clerk & Comptroller, management, the Board of County Commissioners of Pasco County, Florida, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties.


Appendix A

Prior Year Findings

2014-CoCC –ML–1/3

Controls Surrounding Journal Entries

Management of the Pasco County, Florida Clerk of Circuit Court and County Comptroller (Clerk & Comptroller) is responsible for establishing and maintaining effective internal control over financial reporting. In performing our auditing procedures, we noted management was not able to provide evidence that certain journal entries relating to the allocation of court revenue were authorized prior to being posted in the general ledger. We recommend management maintain supporting documentation to evidence that all journal entries are reviewed and authorized by someone other than the preparer prior to posting in the general ledger.

Status: Corrected

2014–CoCC –ML–2/3

Consistency in charging internal service fund premiums

During our testing of the compliance requirements related to Article V, we noted an inconsistency between amounts reported to the Florida Clerks of Court Operations Corporation and amounts recorded in the Clerk & Comptroller’s general ledger. Upon further inquiry it was determined that a journal entry to reduce funding for the Internal Service fund from the Fines and Forfeitures fund had not been recorded in the general ledger. The journal entry was subsequently posted to the general ledger. However, no similar journal entry was recorded to reduce funding from the other Clerk & Comptroller funds to the Internal Service fund. As a result the allocation method used to charge each of the Clerk & Comptroller’s funds was not consistently applied.We recommend that on an annual basis the Clerk & Comptroller establish an allocation methodology to fund the Internal Service fund that is reasonable and consistently applied to each benefiting fund.

Status: Corrected

2014–CoCC –ML–3/3

Use of Child Support Incentive funds

The Clerk & Comptroller maintains a separate special revenue fund to account for the activities related to funds received from Child Support Incentive related activities. We noted that the Clerk & Comptroller has been receiving these restricted funds for many years and has not recorded any related expenditures in the special revenue fund. While eligible expenditures have been incurred over the years, such expenditures have been recognized in the General fund. At September 30, 2014 the Child Support Incentive fund had a fund balance of approximately $124,000. As part of the annual budget process, we suggest that the Clerk & Comptroller evaluate whether funds from the Child Support Incentive fund should be transferred to the General fund to cover allowable expenditures, or alternatively, whether such allowable expenditures should be charged to the Child Support Incentive fund. Additionally, the Clerk & Comptroller may want to consider

Appendix A

whether maintenance of a separate special revenue fund is needed or if compliance can be monitored within the General fund.

Status: Partially corrected. Management created a new account in the General Fund to record the current year charge for services. However, the Child Support Incentive fund balance was not moved to the general fund so a separate special revenue fund still existed at year end.

Management’s response: The Clerk’s office is in the process of implementing a new general ledger system and we anticipate the remaining accounts will be moved to the General Fund during that time.



We have examined the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s (the Clerk & Comptroller) compliance with Section 218.415, Florida Statutes as of September 30, 2015. Management is responsible for the Clerk & Comptroller’s compliance with those requirements. Our responsibility is to express an opinion on the Clerk & Comptroller’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Clerk & Comptroller’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Clerk & Comptroller’s compliance with specified requirements.

In our opinion, the Pasco County, Florida Clerk of Circuit Court and County Comptroller complied, in all material respects, with the aforementioned requirements as of September 30, 2015.






We have examined the Pasco County, Florida Clerk of Circuit Court and County Comptroller’s (the Clerk & Comptroller) compliance with Sections 28.35 and 28.36, Florida Statutes as of September 30, 2015.Management is responsible for the Clerk & Comptroller’s compliance with those requirements. Our responsibility is to express an opinion on the Clerk & Comptroller’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Clerk & Comptroller’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Clerk & Comptroller’s compliance with specified requirements.

In our opinion, the Pasco County, Florida Clerk of Circuit Court and County Comptroller complied, in all material respects, with the aforementioned requirements as of September 30, 2015.




PASCO COUNTY PROPERTY APPRAISER


September 30, 2015

(With Independent Auditors’ Report Thereon)


Table of Contents

Page

Independent Auditors’ Report 1

Financial Statements:

Balance Sheet – General Fund 3

Statement of Revenues, Expenditures, and Changes in Fund Balance – General Fund 4

Statement of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – General Fund 5


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 15

Management Letter 17

Independent Accountants’ Report 19


Honorable Mike Wells, Property Appraiser Pasco County, Florida:

Report on the Financial Statements

We have audited the accompanying financial statements of the general fund of the Pasco County Property Appraiser as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County Property Appraiser’s basic financial statements as listed in the table of contents.




Our responsibility is to express an opinion on these financial statements based on our audit. 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.


We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the general fund of the Pasco County Property Appraiser as of September 30, 2015, and the changes in financial position, and the budgetary comparison for the general fund for the year then ended in accordance with U.S. generally accepted accounting principles.



2

Emphasis of Matter

As discussed in note 1(a) to the financial statements, the accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These financial statements are not intended to be a complete presentation of the financial position of the Pasco County Property Appraiser as of September 30, 2015, and the changes in its financial position for the year then ended, in conformity with U.S. generally accepted accounting principles. Our opinion is not modified with respect to this matter.


In accordance with Government Auditing Standards, we have also issued our report dated March 17, 2016 on our consideration of the Pasco County Property Appraiser’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on 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 Pasco County Property Appraiser’sinternal control over financial reporting and compliance.

March 17, 2016 Certified Public Accountants

3

PASCO COUNTYPROPERTY APPRAISER

Balance Sheet – General Fund

September 30, 2015

Assets

Cash and cash equivalents $ 547,646Accounts receivable 251

Total assets $ 547,897

Liabilities and Fund Balance

Liabilities:Accounts payable and accrued liabilities $ 145,951Due to Pasco County Board of County Commissioners 389,954Due to other taxing districts 11,992

Total liabilities 547,897

Fund balance —Total liabilities and fund balance $ 547,897

See accompanying notes to financial statements.

4


Statement of Revenues, Expenditures, and Changes in

Fund Balance – General Fund


Revenues:Commissions and fees:

Pasco County Board of County Commissioners $ 4,403,690Other taxing districts:

Southwest Florida Water Management District 95,078West Pasco Mosquito Control District 40,342

Total commissions and fees 4,539,110

Interest 1,814Other 13,876

Total revenues 4,554,800

Expenditures:General government:

Personal services 3,652,651Operating 407,865Capital outlay 92,338

Total expenditures 4,152,854

Excess of revenues over expenditures 401,946

Other financing uses:Transfers out:

Distribution of excess commissions and fees to the Pasco CountyBoard of County Commissioners (389,954)

Distribution of excess commissions and fees to other taxing districts (11,992)

Total other financing uses (401,946)

Excess of revenues over expenditures and other financing uses —

Fund balance – beginning of year —Fund balance – end of year $ —


5


Statement of Revenues, Expenditures, and Changesin Fund Balance – Budget and Actual – General Fund


Budget Variance withOriginal Final Actual final budget

Revenues:Commissions and fees:

Pasco County Board of CountyCommissioners $ 4,403,139 4,403,690 4,403,690 —

Other taxing districts:Southwest Florida Water

Management District 95,066 95,078 95,078 —West Pasco Mosquito Control

District 40,337 40,342 40,342 —

Total commissions and fees 4,538,542 4,539,110 4,539,110 —

Interest — — 1,814 1,814Other — — 13,876 13,876

Total revenues 4,538,542 4,539,110 4,554,800 15,690


Personal services 3,935,426 3,935,994 3,652,651 283,343Operating 457,781 457,781 407,865 49,916Capital outlay 105,335 105,335 92,338 12,997

Contingency 40,000 40,000 — 40,000


Excess of revenues overexpenditures — — 401,946 401,946

Other financing uses:Transfers out:

Distribution of excess commissionsand fees to the Pasco CountyBoard of County Commissioners — — (389,954) (389,954)

Distribution of excess commissionsand fees to other taxing districts — — (11,992) (11,992)

Total other financing uses — — (401,946) (401,946)

Excess of revenues overexpenditures and otherfinancing uses $ — — — —




Notes to Financial Statements

September 30, 2015

6 (Continued)



The Pasco County Property Appraiser (Property Appraiser) is an elected constitutional officer as provided for by the Constitution of the State of Florida. Pursuant to Chapter 129, Florida Statutes, the Property Appraiser’s budget is submitted to the Florida Department of Revenue for approval, and a copy is forwarded to the Pasco County Board of County Commissioners (the Board).

The financial statements presented include the general fund of the Property Appraiser’s office. The accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits.

Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires the Property Appraiser to only present fund financial statements. Accordingly, due to the omission of government-wide financial statements and related disclosures, including a management’s discussion and analysis, these financial statements do not constitute a complete presentation of the financial position of the Property Appraiser as of September 30, 2015 and the changes in its financial position for the year then ended in conformity with Governmental Accounting Standards Board (GASB) Statement No. 34, Basic Financial Statements and Management’s Discussion and Analysis – for State and Local Governments, but otherwise constitute financial statements prepared in conformity with accounting principles generally accepted in the United States of America.

The financial activities of the Property Appraiser, as a constitutional officer, are included in the Pasco County Comprehensive Annual Financial Report.

(b) Measurement Focus, Basis of Accounting, and Basis of Presentation

Fund financial statements report detailed information about the Property Appraiser. The focus of governmental fund financial statements is on major funds rather than reporting funds by type.

Governmental funds are accounted for using the flow of current financial resources measurement focus. Only current assets and current liabilities, generally, are included in the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. The Property Appraiser’s only governmental fund is the general fund. The general fund is used to account for the general operations of the Property Appraiser.

The modified accrual basis of accounting is used by governmental funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become measurable and available to finance liabilities of the current fiscal year). For this purpose, the Property Appraiser considers revenues to be available if they are collected within 60 days of the end of the current period. Expenditures are recorded when the related fund liability is incurred, except for compensated absences, which are recognized as expenditures to the extent they have matured.



September 30, 2015

7 (Continued)

Substantially, all of the Property Appraiser’s revenue is received from taxing authorities. These moneys are unrestricted and are revocable only for failure to comply with prescribed compliance requirements. These resources are reflected as revenues at the time of receipt; earlier if the “susceptible to accrual” criteria are met.

Interest income and other revenue are recognized as they are earned and become measurable and available to pay liabilities of the current period.

Florida Statutes provide that the amount by which revenues and transfers exceed annual expenditures be remitted to the Board immediately following the fiscal year during which the other revenues were recognized.

Florida Statutes further provide that the excess of revenues over expenditures held by the Property Appraiser be distributed to each governmental agency in the same proportion as the fees paid by each governmental agency bear to total fee revenues. The amount of this distribution is recorded as a liability and as an other financing use in the accompanying financial statements.

Capital outlays expended in the general fund operations are capitalized in the basic financial statements of the Board rather than in governmental funds of the Property Appraiser.

(c) Cash and Cash Equivalents

Cash equivalents are defined as highly liquid investments with original maturities of three months or less. Cash equivalents of $418,399 at September 30, 2015 consist of a money market account.

(d) Compensated Absences

All full-time employees of the Property Appraiser are entitled to paid time off (PTO) and major medical leave. The employees are generally allowed to accumulate PTO with an unlimited amount of hours that can be carried into the next fiscal year. Major medical leave is accrued at a maximum of 80 hours per year and is the maximum amount that can be used during the year. PTO and major medical leave payments are included in personal services expenditures when the payments are made to the employees. The Property Appraiser does not, nor is he legally required to, accumulate financial resources for these unmatured obligations. Accordingly, the liability for compensated absences is not reported in the general fund, but rather is reported in the basic financial statements of the Board.

(e) Use of Estimates

The preparation of the financial statements requires management of the Property Appraiser to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.



September 30, 2015

8 (Continued)

(2) Budgetary Process

Section 195.087, Florida Statutes, governs the preparation, adoption, and administration of the Property Appraiser’s annual budget. The Property Appraiser prepares a budget for the general fund and submits it to the Florida Department of Revenue for approval. Any subsequent amendments to the total budget must be approved by the Florida Department of Revenue. The budget for the general fund is prepared on a basis consistent with U.S. generally accepted accounting principles. The annual budget serves as the legal authorization for expenditures. Budgetary control is maintained at the major object expenditure level. Expenditures may not legally exceed appropriations at the fund level and appropriations lapse at year-end. Budgetary changes within major object expenditure categories are made at the discretion of the Property Appraiser.

The original budget is the first complete appropriated budget. The final budget is the original budget adjusted by all reserves, transfers, allocations, supplemental appropriations, and other legally authorized changes applicable to the fiscal year, whenever legally authorized.

(3) Cash and Cash Equivalents

At September 30, 2015, the carrying value of the Property Appraiser’s cash and cash equivalents was as follows:

CarryingType value

Cash on hand $ 105 Demand deposits 129,142 Money market account 418,399

Total cash and cashequivalents $ 547,646

(a) Custodial Credit Risk

At September 30, 2015, the Property Appraiser’s deposits were entirely covered by federal depository insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida Statutes. Under this Chapter, in the event of default by a participating financial institution (a qualified public depository), all participating institutions are obligated to reimburse the governmental entity for the loss.

(b) Interest Rate Risk

The Property Appraiser has no specific investment policy regarding interest rate risk.

(c) Credit Risk

The Property Appraiser’s policy is to follow the guidance in Section 219.075, Florida Statutes, regarding the deposit of funds received and the investment of surplus funds. Sections 219.075 and 218.415, Florida Statutes, authorize the Property Appraiser to invest in the Local Government Surplus



September 30, 2015

9 (Continued)

Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act; Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency; direct obligations of the U.S. Treasury; federal agencies and instrumentalities; or interest-bearing time deposits and savings accounts held in federal or state chartered banks and savings and loan associations doing business in Florida, provided that such deposits are secured by collateral as may be prescribed. Additionally, Florida Statutes allow local governments to place public funds with institutions that participate in a collateral pool under the Florida Security for Public Deposits Act. The pool is administered by the State Treasurer, who may make additional assessments to ensure that no public funds will be lost.

(4) Capital Assets

Capital assets used by the Property Appraiser are reported in the basic financial statements of the Board rather than in the governmental funds of the Property Appraiser. Upon acquisition, such assets are recorded as expenditures in the general fund of the Property Appraiser and are capitalized in the basic financial statements of the Board. Capital assets are valued at historical cost, or estimated historical cost, if actual historical cost is not available. Donated capital assets are valued at their estimated fair value on the date received. The Property Appraiser maintains custodial responsibility for the capital assets used by the office. The office space used in the Property Appraiser’s operations is provided at no cost by the Board. No depreciation expense has been provided on capital assets in these financial statements. However, depreciation expense on these capital assets is recorded in the basic financial statements of the Board.

(5) Long-Term Liabilities

The following is a summary of changes in general long-term liabilities, which are reported in the basic financial statements of the Board:

September 30, September 30,2014 Additions Retirements 2015

Accrued compensated absences $ 542,495 247,020 298,276 491,239

Of these liabilities, approximately $233,000 is expected to be paid during the fiscal year ending September 30, 2016. These long-term liabilities are not reported in the financial statements of the Property Appraiser since they have not matured.

(6) Related Party Transactions

During the year ended September 30, 2015, the Board provided funding for the Property Appraiser that amounted to $4,403,690. At September 30, 2015, the Property Appraiser had a payable due to the Board of $389,954 related to the distribution of excess appropriations.



September 30, 2015

10 (Continued)

(7) Retirement Plans

Florida Retirement System

General Information

All of the Property Appraiser’s employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (SBA). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature.

The State of Florida annually issues a publicly available financial report that includes financial statements and required supplementary information for the FRS. The latest available report may be obtained by writing to the State of Florida Division of Retirement, Department of Management Services, P.O. Box 9000, Tallahassee, Florida 32315-9000, or from the Web site:

www.dms.myflorida.com/workforce_operations/retirement/publications.

(a) Pension Plan

Plan Description

The Pension Plan is a cost-sharing multiple-employer defined benefit pension plan, with a Deferred Retirement Option Program (DROP) for eligible employees.

Benefits Provided

Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest



September 30, 2015

11 (Continued)

years of salary for each year of credited service. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers’ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service.

For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of credited service for all these members and increasing normal retirement to age 65 or 33 years of service regardless of age for Regular, Senior Management Service, and Elected Officers’ class members, and to age 60 or 30 years of service regardless of age for Special Risk and Special Risk Administrative Support class members. Also, the final average compensation for all these members will be based on the eight highest years of salary.

As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of- living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement.

In addition to the above benefits, the DROP program allows eligible members to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. There are no required contributions by DROP participants.

Contributions

Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively, were as follows: Regular – 7.37% and 7.26%; Special Risk Administrative Support – 42.07% and 32.95%; Special Risk – 19.82% and 22.04%; Senior Management Service – 21.14% and 21.43%; Elected Officers’ – 43.24% and 42.27%; and DROP participants – 12.28% and 12.88%. These employer contribution rates include a HIS Plan subsidy of 1.26% and 1.66% for the periods October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively.

The Property Appraiser’s contributions, excluding employee contributions, to the Pension Plan totaled approximately $240,000 for the fiscal year ended September 30, 2015.



September 30, 2015

12 (Continued)

Payables to the Pension Plan

At September 30, 2015, the Property Appraiser reported a payable in the amount of $10,382 for outstanding contributions to the Pension Plan required for the fiscal year ended September 30, 2015. Such amounts are recorded as accrued salaries and benefits in the accompanying balance sheet – general fund.

(b) HIS Plan

Plan Description

The HIS Plan is a cost-sharing multiple-employer defined benefit pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any time. The benefit is a monthly payment to assist retirees of State-administered retirement systems in paying their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement.

Benefits Provided

For the fiscal year ended September 30, 2015, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be eligible to receive these benefits, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which may include medicare.

Contributions

The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2015, the HIS contribution for the period October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015 was 1.26% and 1.66%, respectively. The Property Appraiser contributed 100% of its statutorily required contributions for the current year. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled.

The Board makes contributions to the HIS Plan on behalf of the Property Appraiser.

(c) Investment Plan

The SBA administers the defined contribution plan officially titled the FRS Investment Plan. The Investment Plan is reported in the SBA’s annual financial statements and in the State of Florida Comprehensive Annual Financial Report.

As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including



September 30, 2015

13 (Continued)

amounts contributed to individual member’s accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% of payroll and by forfeited benefits of plan members. Allocations to the investment member’s accounts during the 2014-15 fiscal year, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class - 6.30%, Special Risk Administrative Support class - 7.95%, Special Risk class - 14.00%, Senior Management Service class - 7.67% and County Elected Officers class - 11.34%.

For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS-covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five-year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2015, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the County.

After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump-sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income.

The Property Appraiser’s Investment Plan pension expense totaled approximately $25,000 for the fiscal year ended September 30, 2015.

As required by GASB Statement No. 68, Accounting and Financial Reporting for Pensions, liabilities related to the Property Appraiser’s participation in the Pension and HIS Plans are reported in the government wide financial statements of the Board.

(8) Other Postemployment Benefits

The Property Appraiser provides postretirement healthcare benefits in accordance with Section 110.123, Florida Statutes, to all employees who retire from the employ of the Property Appraiser. To be eligible for postretirement healthcare benefits, the retiree must have at least six years of service. Retirees with more than



September 30, 2015

14 (Continued)

six years of service, but less than 30 years of service pay 100% of the premium cost to receive postretirement healthcare benefits. Retirees with 30 or more years of service do not pay a premium to receive postretirement healthcare benefits; however, they surrender their monthly state subsidy of $150 per month. As required by GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, liabilities and activities related to these benefits are reported in the government-wide financial statements of the Board.

(9) Risk Management

Pasco County (the County) is exposed to various risks of loss, including but not limited to general liability, auto liability, and workers’ compensation. The County is substantially self-insured and accounts for and finances its risks of uninsured loss through an internal service fund. The Property Appraiser participates in the County’s risk management program. All liabilities associated with these self-insured risks are reported in the basic financial statements of the Board.

The County has general liability insurance with $500,000 retention per claim with $1,000,000 retention limit per occurrence and $2,000,000 aggregate. Negligence claims in excess of the statutory limits set in Section 768.28, Florida Statutes, which provide for limited sovereign immunity of $100,000/$200,000 per occurrence, can only be recovered through an act of the State Legislature. Effective October 1, 2011, sovereign immunity limits were increased to $200,000 per claim and $300,000 per occurrence for claims incurred after that date. The County has workers’ compensation insurance with a $650,000 deductible per occurrence for police/fire, and a $500,000 deductible per occurrence for all others. Settlements have not exceeded coverage in any of the past three fiscal years. All liabilities associated with these self–insured risks are reported in the basic financial statements of the County.

(10) Litigation

The Property Appraiser is involved as defendant or plaintiff in certain litigation and claims arising from the ordinary course of operations, primarily relating to challenges on property value assessments. Any judgments against the Property Appraiser would be settled by the Board. In the opinion of the Property Appraiser and legal counsel, the range of potential recoveries or liabilities will not materially affect the financial position of the Property Appraiser.

15

Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements



We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the general fund of the Pasco County Property Appraiser, as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County Property Appraiser’s basic financial statements, and have issued our report thereon dated March 17, 2016, which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.


In planning and performing our audit of the financial statements, we considered the Pasco County Property Appraiser’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 opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Pasco County Property Appraiser’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Pasco County Property Appraiser’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’sfinancial 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.


As part of obtaining reasonable assurance about whether the Pasco County Property Appraiser’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on



16

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.


The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Pasco County Property Appraiser’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Pasco County Property Appraiser’sinternal control and compliance. Accordingly, this communication is not suitable for any other purpose.


17

Management Letter


We have audited the financial statements of the general fund of the Pasco County Property Appraiser, as of and for the year ended September 30, 2015, and have issued our report thereon dated March 17, 2016, which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements however, our report was not modified for this matter.

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. We have also issued our report dated March 17, 2016 on our consideration of the Pasco County Property Appraiser’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. Disclosures in that report, if any, should be considered in conjunction with this management letter.

Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General,which govern the conduct of local governmental entity audits performed in the State of Florida and require that certain items be addressed in this letter.


The Rules of the Auditor General, Section 10.554(1)(i)(1), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and compliance and other matters, whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings or recommendations made in the preceding annual financial audit.

Other Matters

The Rules of the Auditor General, Section 10.554(1)(i)(2), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, any recommendations to improve the Pasco County Property Appraiser’s financial management. Current year recommendations are included below.

PA-ML-2015-001

Reconciliation of Cash Accounts

During our audit we noted that the Property Appraiser’s cash accounts were not being reconciled to the bank statements throughout the fiscal year. Timely reconciliations of cash accounts is critical to an effective system of internal control. We recommend the Property Appraiser review its existing processes to determine whether they can be enhanced to allow for reconciliations to be performed on a timely basis throughout the fiscal year.



18

Management Response

Management will prepare reconciliations of cash accounts on a timely basis throughout the fiscal year.

The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in the management letter noncompliance with provisions of contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.


The Rules of the Auditor General, Section 10.554(1)(i)(4), require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. In that regard, the Pasco County Property Appraiser was established by the Constitution of the State of Florida, Article VIII, Section 1(d). The Pasco County Property Appraiser does not have any component units.

Purpose of this Letter

This management letter is intended solely for the information and use of the Pasco County Property Appraiser, management, the Board of County Commissioners of Pasco County, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties.


19



We have examined the Pasco County Property Appraiser’s compliance with Section 218.415, Florida Statutes as of September 30, 2015. Management is responsible for the Pasco County Property Appraiser’scompliance with those requirements. Our responsibility is to express an opinion on the Pasco County Property Appraiser’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Pasco County Property Appraiser’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Pasco County Property Appraiser’s compliance with specified requirements.

In our opinion, the Pasco County Property Appraiser complied, in all material respects, with the aforementioned requirements as of September 30, 2015.




PASCO COUNTY, FLORIDA SHERIFF


September 30, 2015



Table of Contents

Page

Independent Auditors’ Report 1-2




Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual (Budgetary Basis) – General Fund 5

Statement of Net Position – Internal Service Fund 6

Statement of Revenues, Expenses, and Changes in Net Position – Internal Service Fund 7

Statement of Cash Flows – Internal Service Fund 8

Balance Sheet – Agency Funds 9

Notes to Financial Statements 10-22

Combining Information:

Combining Balance Sheet – General Fund 23

Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – General Fund 24

Nonmajor Special Revenue Funds 25-26

Combining Balance Sheet – Nonmajor Special Revenue Funds 27-30

Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – Nonmajor Special Revenue Funds 31-34

Fiduciary Funds 35

Combining Balance Sheet – Agency Funds 36

Combining Statement of Changes in Assets and Liabilities – Agency Funds 37

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 38-41

Management Letter 42-43


(Continued)


Honorable Chris Nocco, Sheriff Pasco County, Florida:

We have audited the accompanying financial statements of each major fund and the aggregate remaining fund information of the Pasco County, Florida Sheriff as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Sheriff’s basic financial statements as listed in the table of contents.







Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of each major fund and the aggregate remaining fund information of the Pasco County, Florida Sheriff as of September 30, 2015, and the respective changes in financial position, and, where applicable, cash flows thereof and the budgetary comparison for the general fund for the year then ended, in conformity with U.S. generally accepted accounting principles.



Emphasis of Matter

As discussed in note 1 (a) to the financial statements, the accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These financial statements are not intended to be a complete presentation of the financial position of the Pasco County, Florida Sheriff as of September 30, 2015, and the changes in its financial position for the year then ended, in conformity with U.S. generally accepted accounting principles. Our opinion is not modified with respect to this matter.

Other Matters

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Pasco County, Florida Sheriff’s basic financial statements. The combining information is presented for purposes of additional analysis and is not a required part of the basic financial statements. The combining information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining information is fairly stated in all material respects in relation to the basic financial statements as a whole.


In accordance with Government Auditing Standards, we have also issued our report dated August 2, 2016 on our consideration of the Pasco County, Florida Sheriff’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on 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 Pasco County, Florida Sheriff’s internal control over financial reporting and compliance.

August 2, 2016 Certified Public Accountants

3


Balance Sheet – Governmental Funds

September 30, 2015

Child NonmajorProtective special

Assets General Services Commissary revenue funds Total

Cash $ 8,915,604 — 3,099,029 964,097 12,978,730Accounts receivable 18,792 — 46,638 — 65,430Due from Pasco County, Florida Board of

County Commissioners 130,386 — — 271,072 401,458Due from other funds 2,247,773 2,172,286 78 1,178,399 5,598,536Due from other governments 458,357 — — 167,602 625,959Inventory 161,248 — 459,989 — 621,237

Total assets 11,932,160 2,172,286 3,605,734 2,581,170 20,291,350

Liabilities and Fund Balances

Liabilities:Accounts payable 1,565,965 26,505 78,753 46,040 1,717,263Accrued salaries and benefits 5,531,866 228,723 14,597 14,251 5,789,437Due to other funds 4,176,300 1,338,877 134,839 460,979 6,110,995Due to Pasco County, Florida Board of

County Commissioners 393,507 — — 325 393,832Due to other governments 464 — — 210 674Unearned revenue — 576,335 — 2,042 578,377

Total liabilities 11,668,102 2,170,440 228,189 523,847 14,590,578

Fund balances:Nonspendable 161,248 — 459,989 — 621,237Restricted — 1,846 2,917,556 2,057,323 4,976,725Assigned 102,810 — — — 102,810

Total fund balances 264,058 1,846 3,377,545 2,057,323 5,700,772Total liabilities and fund balances $ 11,932,160 2,172,286 3,605,734 2,581,170 20,291,350


4


Statement of Revenues, Expenditures, and Changesin Fund Balances – Governmental Funds


Child NonmajorProtective special

General Services Commissary revenue funds Total

Revenues:Intergovernmental revenue $ 275,341 6,415,665 — 1,158,190 7,849,196Fines and forfeitures — — — 602,724 602,724Charges for services 2,991,579 — 2,038,804 — 5,030,383Interest revenue 112 (23) 1,263 1,228 2,580Miscellaneous revenue 329,104 3,402 182,087 320,280 834,873

Total revenues 3,596,136 6,419,044 2,222,154 2,082,422 14,319,756


Personal services 3,342,832 — — — 3,342,832Operating 168,662 — — — 168,662

Total general government 3,511,494 — — — 3,511,494

Public safety:Personal services 73,567,154 5,206,422 360,357 968,995 80,102,928Operating 20,804,436 860,951 1,404,900 929,886 24,000,173

Total public safety 94,371,590 6,067,373 1,765,257 1,898,881 104,103,101

Capital outlay 973,959 355,051 9,755 481,130 1,819,895

Total expenditures 98,857,043 6,422,424 1,775,012 2,380,011 109,434,490

Excess (deficiency) of revenuesover expenditures (95,260,907) (3,380) 447,142 (297,589) (95,114,734)

Other financing sources (uses):Transfers in:

Pasco County, Florida Board of CountyCommissioners appropriations 96,125,661 — — — 96,125,661

Transfers out:Distribution of excess appropriations to

the Pasco County, Florida Board ofCounty Commissioners (331,379) — — — (331,379)

Internal service fund (564,848) — — — (564,848)

Total other financing sources 95,229,434 — — — 95,229,434

Excess (deficiency) of revenuesand other financing sourcesover expenditures (31,473) (3,380) 447,142 (297,589) 114,700

Fund balances, beginning of year 295,531 5,226 2,937,917 2,354,912 5,593,586Increase in reserve for inventory — — (7,514) — (7,514) Fund balances, end of year $ 264,058 1,846 3,377,545 2,057,323 5,700,772


5


Statement of Revenues, Expenditures, and Changesin Fund Balances – Budget and Actual (Budgetary Basis) – General Fund


Budgetary VarianceBudget basis with final

Original Final actual budget

Revenues:Charges for services $ — — 2,084,012 2,084,012Interest revenue — — 7 7Miscellaneous revenue — — 329,104 329,104

Total revenues — — 2,413,123 2,413,123


Personal services 3,309,354 3,342,832 3,342,832 —Operating 203,650 170,172 168,662 1,510

Public safety:Personal services 72,548,554 72,548,554 72,524,354 24,200Operating 19,572,277 19,162,844 20,666,725 (1,503,881)

Capital outlay 491,826 901,259 944,067 (42,808) Reserve 1,534,000 1,534,000 — 1,534,000


Deficiency of revenues overexpenditures (97,659,661) (97,659,661) (95,233,517) 2,426,144


Pasco County, Florida Board of CountyCommissioners appropriations 97,659,661 97,659,661 96,125,661 (1,534,000)


the Pasco County, Florida Board ofCounty Commissioners — — (331,379) (331,379)

Internal service fund — — (564,848) (564,848)

Total other financing sources 97,659,661 97,659,661 95,229,434 (2,430,227)

Deficiency of revenuesand other financing sourcesover expenditures — — (4,083) (4,083)

Fund balance, beginning of year — — 165,331 165,331Fund balance, end of year $ — — 161,248 161,248


6

Assets

Cash $ 4,425,774Due from other funds 617,156

Total assets 5,042,930

Liabilities and Net Position

Liabilities:Accounts payable 1,856,708Claims payable 891,000Due to other funds 104,710Advance from Pasco County Board of County Commissioners 1,534,000

Total liabilities 4,386,418

Net Position:Unrestricted 656,512

Total liabilities and net position $ 5,042,930



Statement of Net Position - Internal Service Fund

September 30, 2015

7


Statement of Revenues, Expenses, and Changes in Net Position - Internal Service Fund

September 30, 2015

Operating revenue:Charges for services $ 10,920,638


Operating expenses:Health insurance 9,134,111Current charges/stop loss fees 1,695,804

Total expenses 10,829,915

Operating income 90,723

Nonoperating revenues-Interest income 941

Total nonoperating revenues 941

Transfers in - general fund 564,848

Change in net position 656,512

Net position - beginning of year —Net position - end of year $ 656,512


8

Cash flows from operating activities:Cash received from other funds for services provided $ 10,303,482Cash payments for claims and claims related services (6,281,693) Cash payments for administrative services and supplies (1,695,804)

Net cash provided by operating activities 2,325,985

Cash flows from noncapital financing activities:Transfer from other funds 564,848Advance from Pasco County reserves 1,534,000

Net cash provided by noncapital financing activities 2,098,848

Cash flows from investing activity:Interest earned 941

Net cash provided by investing activities 941

Net increase in cash and cash equivalents 4,425,774

Cash - Beginning of year —Cash - End of year $ 4,425,774

Reconciliation of operating income to net cash provided by operating activities:Operating income $ 90,723Adjustments to reconcile operating income to net cash provided by operating activities:

Increase in due from other funds (617,156) Increase in accounts payable 1,856,708Increase in claims payable 891,000Increase in due to other funds 104,710

Net cash provided by operating activities $ 2,325,985



Statement of Cash Flows - Internal Service Fund

September 30, 2015

9


Balance Sheet – Agency Funds

September 30, 2015

Assets

Cash $ 588,106Due from other funds 13

Total assets 588,119

Liabilities

Cash appearance bonds 550Due to individuals 587,551Vouchers payable 18

Total liabilities $ 588,119




September 30, 2015

10 (Continued)



The Pasco County, Florida Sheriff (the Sheriff) is an elected constitutional officer as provided for by the Constitution of the State of Florida. Pursuant to Chapter 129, Florida Statutes, the Sheriff’s budget is submitted to the Pasco County, Florida Board of County Commissioners (Board) for approval.

The Sheriff is the chief law enforcement officer of Pasco County, Florida (the County) and is responsible for operating the County’s corrections facilities. The financial statements include the general fund, special revenue funds, internal service fund, and agency funds of the Sheriff’s office. The accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits.

Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires the Sheriff to only present fund financial statements. Accordingly, due to the omission of government-wide financial statements and related disclosures, including a management’s discussion and analysis, these financial statements do not constitute a complete presentation of the financial position of the Sheriff as of September 30, 2015, and the changes in its financial position for the year then ended in conformity with Governmental Accounting Standards Board (GASB) Statement No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments, but otherwise constitute financial statements prepared in conformity with U.S. generally accepted accounting principles (GAAP).

As a result of the budgetary oversight by the Board and financial dependency on the Board, the financial activities of the Sheriff, as a constitutional officer, are included in the Pasco County, Florida Comprehensive Annual Financial Report.

Transfers are provided by appropriations from the Board pursuant to law. Estimated receipts and budgeted fund balances must equal appropriations. The Sheriff is required to refund to the Board all excess appropriations annually; therefore, no unappropriated fund balance is carried forward.


Fund financial statements report detailed information about the Sheriff. The focus of governmental fund financial statements is on major funds rather than reporting funds by type. Each major fund is reported in a separate column.

Governmental Funds

Governmental funds are accounted for using the flow of current financial resources measurement focus. Only current assets and current liabilities, generally, are included on the balance sheet. Operating statements for these funds present increases (i.e., revenues and other financing sources) and



September 30, 2015

11 (Continued)

decreases (i.e., expenditures and other financing uses) in net current assets. The Sheriff reports the following major governmental funds:

General Fund – The general fund is used to account for the general operations of the Sheriff and includes all transactions, which are not accounted for in another fund.

Child Protective Services Fund – This fund accounts for funding provided by the Department of Children and Family Services necessary for the Sheriff to assume responsibility for protective services. Funds can only be expended in accordance with the agreement with the state.

Commissary Fund – This fund accounts for the receipts and disbursement of the Sheriff’s Commissary activity.

The Sheriff also has 22 nonmajor special revenue funds, the majority of which account for various individual grants.

The modified accrual basis of accounting is used by governmental funds. Under the modified accrual basis of accounting, revenue is recognized when susceptible to accrual (i.e., when they become measurable and available to finance liabilities of the current fiscal year). For this purpose, with the exception of grants, the Sheriff considers revenues to be available if they are collected within 60 days of the end of the current period. Grant revenues are considered available if collected within one year of the current period. Expenditures are recorded when the related fund liability is incurred, except for certain compensated absences, which are recognized as expenditures to the extent they have matured.

Substantially, all of the Sheriff’s funding is appropriated by the Board. In applying the susceptible to accrual concept to intergovernmental revenue, there are essentially two types of revenue. In one, moneys must be expended on the specific purpose or project before any amounts will be paid to the Sheriff; therefore, revenue is recognized based upon the expenditures incurred. Grant revenue is recorded in this manner. In the other, moneys are virtually unrestricted and are revocable only for failure to comply with prescribed compliance requirements. These resources are reflected as revenue at the time of receipt, or earlier, if the “susceptible to accrual” criteria are met.

Charges for services, interest income, and other revenue are recognized as they are earned and become measurable and available to pay liabilities of the current period.

Florida Statutes provide that the amount by which revenues and transfers exceed annual expenditures be remitted to the Board immediately following the fiscal year for which the funding was provided or following the fiscal year during which other revenue was recognized. The amount of this distribution is recorded as a liability and as another financing use in the accompanying financial statements.

Capital outlays expended in governmental fund operations are capitalized in the basic financial statements of the County rather than in the governmental funds of the Sheriff.



September 30, 2015

12 (Continued)

Proprietary Fund

Proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows.

Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services, and from producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

The Sheriff has one proprietary fund.

Internal Service Fund – This fund is used to account for the health insurance services provided to departments of the Sheriff’s Office on a cost reimbursement basis. The operating revenues of the Sheriff’s internal service fund are charges for services to other funds. Operating expenses of this include claims payments and other contracted services.

Fiduciary Funds

Agency Funds – These funds are used to account for assets held by the Sheriff in a trustee capacity or as an agent for individuals, private organizations, and other governments. Agency funds are custodial in nature (assets equal liabilities), and do not involve measurement of results of operations or have a measurement focus. Agency funds are accounted for using the accrual basis of accounting.

(c) Unearned Revenue

The Sheriff receives grant awards from various federal and state agencies. These awards are recorded as unearned revenue until amounts have been earned or expended.

(d) Inventory

The general fund maintains inventories of supplies, uniforms, and accessories, which are stated at cost. Inventory items are considered expenditures when they are used (consumption method).

Inventory also consists of materials and supplies used in the inmate commissary major special revenue fund operations, which are stated at cost, determined in accordance with the specific-identification method. The cost is recorded as an expenditure at the time of purchase (purchase method).

Reported inventory, based on physical inventory of supplies on hand at September 30, 2015, does not constitute an available expendable resource and, thus, is reflected in nonspendable fund balance.

(e) Deficit Fund Balances

The deficit fund balances in the V & N Gang Suppression (6) and Stop Violence vs. Women nonmajor special revenue funds are a result of timing differences between accruing expenses at year-end and requesting reimbursement from the grant agency. Therefore, the Sheriff will fund the deficit through future billings to the granting agency.



September 30, 2015

13 (Continued)

(f) Compensated Absences

The Sheriff’s employees accumulate annual leave based on years of continuous service. Upon termination of employment, employees can receive payment for accumulated leave time, if they meet certain criteria. Payments for accumulated leave time are included in operating costs when the payments are made to employees. The Sheriff does not, nor is he legally required to, accumulate financial resources for these unmatured obligations. Accordingly, the liability for compensated absences is not reported in the governmental funds but rather is reported in the basic financial statements of the County.

(g) Advances

During the year ended September 30, 2015, the Board of County Commissioners advanced $1,534,000 to the Sheriff for the purpose of establishing the health insurance internal service fund. Such amounts do not accrue interest and are expected to be repaid with future savings of the fund.

(h) Use of Estimates

The preparation of the financial statements requires management of the Sheriff to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

(i) Fund Balance Classification

The Sheriff follows the provisions of GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions (GASB 54). The objective of GASB 54 is to enhance the usefulness of fund balance information by providing clearer fund balance classifications that could be more consistently applied by clarifying the existing governmental fund type definitions.

GASB 54 established a fund balance classification hierarchy based primarily on the extent to which a government is bound to observe constraints imposed upon the use of the resources reported in governmental funds. Fund balances are differentiated between those amounts that are nonspendable and spendable. Further spendable fund balances are classified as restricted, committed, assigned, or unassigned.

The classifications are as follows:

Nonspendable Fund Balance – Amounts that are not in spendable form (such as inventory and prepaid items), or are legally or contractually required to be maintained intact.

Restricted Fund Balance – Amounts that can be used only for the specific purposes stipulated by (a) external resource providers such as creditors, grantors, contributors, or laws and regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislation.

Committed Fund Balance – Amounts that can be used only for the specific purposes determined by a formal action (ordinance or resolution) by the Board of County Commissioners, with formal action



September 30, 2015

14 (Continued)

occurring prior to fiscal year end. Commitments may be changed or removed only by the Commissioners taking the same formal action (resolution) that imposed the constraint originally.

Assigned Fund Balance – Includes spendable fund balance amounts established by the Sheriff or his designee that are intended to be used for specific purposes that are neither considered restricted or committed.

Unassigned Fund Balance – This is the residual classification for the General Fund. This classification represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the General Fund. Unassigned fund balance may also include the negative balance for any governmental fund, except the General Fund, if expenditures exceed amounts restricted, committed, or assigned for those specific purposes.

At September 30, 2015, the Sheriff has classified its fund balances based on the GASB 54 hierarchy as follows:

Child NonmajorGeneral protective Commissary special

fund fund fund revenue fund Total

Nonspendable – inventory $ 161,248 — 459,989 — 621,237 Restricted – inmate welfare — — 2,917,556 — 2,917,556 Restricted – grants — 1,846 — 2,057,323 2,059,169 Assigned – other 102,810 — — — 102,810

$ 264,058 1,846 3,377,545 2,057,323 5,700,772

When both restricted and unrestricted fund balances are available for expenditure, the Sheriff considers available restricted amounts to have been spent first. Further, when assigned or unassigned funds are available for expenditure, the Sheriff considers available assigned amounts to have been spent first. Assigned fund balances can be authorized by management as long as the assignment relates to an authorized budget expenditure.


Florida Statutes Sections 30.49, 129.021, and 129.03 govern the preparation, adoption, and administration of the Sheriff’s annual budget. The Sheriff prepares a budget for the general fund and submits it to the Board for approval. The budget for the general fund is prepared on a basis that differs from U.S. GAAP. Certain revenues and expenditures related to extra duty activities, and activity under MOU agreements are not budgeted. Any subsequent amendments to the total budget must be approved by the Board. The annual budget serves as the legal authorization for expenditures. Budgetary control is maintained at the major object expenditure level. Expenditures may not legally exceed appropriations at the fund level, and appropriations lapse at year-end. Budgetary changes within major object expenditure categories are made at the discretion of the Sheriff.




September 30, 2015

15 (Continued)

Budgets for other funds, while prepared, are not submitted to the Board for approval as they generally are governed by federal or state grant agreements.

The actual results of operations in the statement of revenues, expenditures, and changes in fund balance – budget to actual – general fund are presented on a budgetary basis. Adjustments to convert the results of operations at the end of the year from the budgetary basis of accounting to the GAAP basis of accounting are as follows:

Total Total Fundrevenues expenditures balance

Budgetary basis $ 2,413,123 97,646,640 161,248 Nonbudgetary activity:

Extra Duty Program 907,672 935,062 102,810 MOU Agreements 275,341 275,341 —

GAAP basis $ 3,596,136 98,857,043 264,058

(3) Cash

At September 30, 2015, the carrying value of the Sheriff’s cash was as follows:

Cash on hand $ 175 Demand deposits 17,992,435

Total cash $ 17,992,610

Such amounts are reported as $12,978,730 in the governmental funds, $4,425,774 in the internal service fund, and $588,106 in the agency funds.


At September 30, 2015, the Sheriff’s deposits were entirely covered by federal depository insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida Statutes. Under this Chapter, in the event of default by a participating financial institution (a qualified public depository), all participating institutions are obligated to reimburse the governmental entity for the loss.


The Sheriff has no specific investment policy regarding interest rate risk.

(c) Credit Risk

The Sheriff’s policy is to follow the guidance in Section 219.075, Florida Statutes, regarding the deposit of funds received and the investment of surplus funds. Sections 219.075 and 218.415, Florida Statutes, authorize the Sheriff to invest in the Local Government Surplus Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Inter-local Cooperation Act; Securities and Exchange Commission registered money market funds with the highest credit quality



September 30, 2015

16 (Continued)

rating from a nationally recognized rating agency; direct obligations of the U.S. Treasury; federal agencies and instrumentalities; or interest-bearing time deposits and savings accounts held in federal- or state-chartered banks and savings and loan associations doing business in Florida, provided that such deposits are secured by collateral as may be prescribed. Additionally, Florida Statutes allow local governments to place public funds with institutions that participate in a collateral pool under the Florida Security for Public Deposits Act. The pool is administered by the State Treasurer, who may make additional assessments to ensure that no public funds will be lost.

(4) Capital Assets

Capital assets used in governmental fund type operations are reported in the basic financial statements of the County rather than in the governmental funds of the Sheriff. Upon acquisition, such assets are recorded as expenditures in the governmental funds of the Sheriff and are capitalized in the basic financial statements of the County. Capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated or confiscated capital assets are valued at their estimated fair value on the date received. The Sheriff maintains custodial and record-keeping responsibility for the capital assets of the office. No depreciation expense has been provided on capital assets in these financial statements. However, depreciation expense is recorded in the basic financial statements of the County.

Capital asset activity for the year ended September 30, 2015, which is reported in the basic financial statements of the County, was as follows:

October 1, September 30,2014 Additions Deletions 2015

Automobiles and other vehicles $ 18,954,469 3,022,940 (1,759,550) 20,217,859 Furniture and equipment 14,760,761 4,482,978 (1,801,856) 17,441,883

33,715,230 7,505,918 (3,561,406) 37,659,742

Less accumulated depreciation 27,819,278 3,420,016 (3,552,172) 27,687,122 $ 5,895,952 4,085,902 (9,234) 9,972,620

Additions to capital assets of $7,505,918 include amounts charged to capital outlay of $1,810,140, equipment acquired through trade or other recoveries of $2,628,130, and assets purchased by the County of $3,067,648.

Capital outlay of $9,755 recorded in the Commissary fund is not included in capital assets since this represents the increase in inventory balance during the year.



September 30, 2015

17 (Continued)



October 1, September 30,2014 Additions Deletions 2015

Accrued compensated absences $ 8,409,744 1,064,811 (1,783,333) 7,691,222

Of these liabilities, approximately $599,000 is expected to be paid during the fiscal year ended September 30, 2016.

(6) Related-Party Transactions

At September 30, 2015, the Sheriff had a payable due to the Board of $393,832 of which $331,379 is related to distribution of excess appropriations, $44,770 is related to fees earned, and the balance of $17,683 is related to miscellaneous amounts. During the year ended September 30, 2015, the Sheriff received appropriations from the Board amounting to $96,125,661. The Sheriff received $1,534,000 of reserve funds from the Board to provide the initial funding for the Sheriff’s internal service fund. Additionally, such amount is recorded as an advance at September 30, 2015 as such amounts will be repaid in future years.

(7) Employee Retirement Plan


General Information

Substantially all full-time and part-time employees of the Sheriff are eligible to participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (SBA). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature. The Sheriff participates in the special risk class.





September 30, 2015

18 (Continued)

(a) Pension Plan

Plan Description


Benefits Provided

Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers’ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service.


As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of- living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement.



September 30, 2015

19 (Continued)


Contributions

Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state-wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively, were as follows: Regular – 7.37% and 7.26%; Special Risk Administrative Support – 42.07% and 32.95%; Special Risk – 19.82% and 22.04%; Senior Management Service – 21.14% and 21.43%; Elected Officers’ – 43.24% and 42.27%; and DROP participants – 12.28% and 12.88%. These employer contribution rates include a HIS Plan subsidy of 1.26% and 1.66% for the periods October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively.

The Sheriff’s contributions, excluding employee contributions, to the Pension Plan totaled $10,276,089 for the fiscal year ended September 30, 2015.


At September 30, 2015, the Sheriff reported a payable in the amount of $976,141 for outstanding contributions to the Pension Plan required for the fiscal year ended September 30, 2015. Such amounts are recorded as accrued salaries and benefits in the accompanying balance sheet – governmental funds.

(b) HIS Plan

Plan Description


Benefits Provided

For the fiscal year ended September 30, 2015, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be eligible to receive these benefits, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which may include Medicare.



September 30, 2015

20 (Continued)

Contributions

The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2015, the HIS contribution for the period October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015 was 1.26% and 1.66%, respectively. The Sheriff contributed 100% of its statutorily required contributions for the current year. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled.

The Board makes contributions to the HIS Plan on behalf of the Sheriff.

(c) Investment Plan


As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member’s accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% of payroll and by forfeited benefits of plan members. Allocations to the investment member’s accounts during the 2014-15 fiscal year, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class - 6.30%, Special Risk Administrative Support class - 7.95%, Special Risk class - 14.00%, Senior Management Service class - 7.67% and County Elected Officers class - 11.34%.

For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS-covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five-year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2015, the information for the amount of forfeitures was unavailable from the SBA;



September 30, 2015

21 (Continued)

however, management believes that these amounts, if any, would be immaterial to the Sheriff and the County.

After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump-sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income.

The Sheriff’s Investment Plan pension expense totaled approximately $88,000 for the fiscal year ended September 30, 2015.

As required by GASB Statement No. 68, Accounting and Financial Reporting for Pensions, liabilities related to the Sheriff’s participation in the Pension and HIS Plans are reported in the government-wide financial statements of the County.


The Sheriff provides postretirement healthcare benefits in accordance with Section 110.123, Florida Statutes, to all employees who retire from the employ of the Sheriff. To be eligible for postretirement healthcare benefits, the retiree must have at least six years of service or attain normal retirement age as defined by Social Security. Retirees with more than six years of service, but less than 30 years of service, pay 100% of the premium cost to receive postretirement healthcare benefits. Retirees with 30 or more years of service do not pay a premium to receive postretirement healthcare benefits; however, they surrender their monthly state subsidy of $150 per month. As required by GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, liabilities and activities related to these benefits are reported in the government-wide financial statements of the County.

(9) Risk Management

The Sheriff is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and injuries to employees. The County has established a risk management program to self-insure claims against the Board and the constitutional officers for various risks.

The Sheriff participates in the County’s risk management program to insure against workers’ compensation insurance risks and the Statewide Florida Sheriff’s Self-Insurance Fund (the Fund) to insure against general liabilities claims. The Fund is managed by representatives of the participating sheriff offices and provides professional liability insurance to participating agencies. The Fund provides liability insurance coverage subject to the following limitations: $5,000,000 for any claim involving a single individual, $5,000,000 for any incident that involves multiple claims, and an aggregate of $10,000,000 ultimate net loss per Sheriff during any policy period. The Sheriff carries insurance through the Florida Sheriff’s Automobile Risk program related to automobile insurance. There have been no significant reductions in insurance coverage in the last year. Settlements have not exceeded coverage for each of the past three fiscal years.



September 30, 2015

22

Premiums charged to participating sheriffs are based upon amounts believed by the fund management to meet the estimated annual payout during the fiscal year and to pay for the estimated operating costs of the program. All liabilities associated with these self-insured risks are reported in the basic financial statements of the County or the Statewide Florida Sheriff’s Fund.

The Sheriff has an insurance fund that accounts for a self-insured plan for employee group medical and prescription drug coverage. At September 30, 2015, the claims liability of $891,000 reported in the Internal Service fund Statement of Net Position is based on the provisions of GASB Statement No. 10, Accounting and Financial Reporting for Risk Financing and Related Insurance Issues, which requires that a liability for unpaid claims costs, including estimates of costs related to incurred but not reported claims, be accrued when insured events occur.

Changes in claims liability amounts during the past fiscal year is as follows:

Incurred Claims

Balance and Change Claim BalanceOctober 1 in estimates Payments September 30

2015 $ — 9,134,111 8,243,111 891,000

(10) Contingencies

(a) Litigation

The Sheriff is involved as defendant or plaintiff in certain litigations and claims arising from the ordinary course of operations. Funding for any judgments against the Sheriff in excess of available budget funds would be requested from the Board. In the opinion of the Sheriff and legal counsel, the range of potential recoveries or liabilities will not materially affect the financial position of the Sheriff.

In March 2009, a verdict was asserted against the Pasco County Sheriff’s office awarding approximately $8.7 million to the claimant. The Florida statutory sovereign immunity provisions at that time put a cap on damages of $100,000 and such damages were paid through the Florida Sheriff’s Automobile Risk Program (SHARP). However, the claimant has indicated their intent to pursue the remaining verdict award through a claim bill with the Florida Legislature. Should such claim bill be passed by the Florida Legislature, there is an additional $322,000 of insurance coverage available through SHARP. Any claim in excess of the available insurance coverage would be requested from the Board of County Commissioners if such funds weren’t available in the remaining budget. No liability has been recorded in the accompanying financial statements due to the uncertainty of the outcome.

(b) Federal and State Grants

Grant funds received by the Sheriff are subject to audit by grantor agencies. Audits of these grants may result in disallowed costs, which may constitute a liability of the Sheriff. In the opinion of management, disallowed costs, if any, would be immaterial to the financial position of the Sheriff.

23


Combining Balance Sheet – General Fund

September 30, 2015

Extra Duty MOUAssets General Program Agreements Total

Cash $ 8,599,110 316,494 — 8,915,604Accounts receivable 18,792 — — 18,792Due from Pasco County, Florida Board of

County Commissioners 130,386 — — 130,386Due from other funds 2,247,770 3 — 2,247,773Due from other governments 428,641 — 29,716 458,357Inventory 161,248 — — 161,248

Total assets 11,585,947 316,497 29,716 11,932,160


Liabilities:Accounts payable 1,540,322 25,187 456 1,565,965Accrued salaries and benefits 5,488,421 40,647 2,798 5,531,866Due to other funds 4,001,985 147,853 26,462 4,176,300Due to Pasco County, Florida Board of

County Commissioners 393,507 — — 393,507Due to other governments 464 — — 464

Total liabilities 11,424,699 213,687 29,716 11,668,102

Fund balances:Nonspendable 161,248 — — 161,248Assigned — 102,810 — 102,810

Total fund balances 161,248 102,810 — 264,058Total liabilities and fund balances $ 11,585,947 316,497 29,716 11,932,160

See accompanying independent auditors’ report.

24


Combining Statement of Revenues, Expenditures, and Changes in Fund Balances – General Fund


Extra Duty MOUGeneral Program Agreements Total

Revenues:Intergovernmental revenue $ — — 275,341 275,341Charges for services 2,084,012 907,567 — 2,991,579Interest revenue 7 105 — 112Miscellaneous revenue 329,104 — — 329,104

Total revenues 2,413,123 907,672 275,341 3,596,136


Personal services 3,342,832 — — 3,342,832Operating 168,662 — — 168,662

Total general government 3,511,494 — — 3,511,494

Public safety:Personal services 72,524,354 911,504 131,296 73,567,154Operating 20,666,725 23,558 114,153 20,804,436

Total public safety 93,191,079 935,062 245,449 94,371,590

Capital outlay 944,067 — 29,892 973,959

Total expenditures 97,646,640 935,062 275,341 98,857,043

Excess (deficiency) of revenuesover expenditures (95,233,517) (27,390) — (95,260,907)


Pasco County, Florida Board of CountyCommissioners appropriations 96,125,661 — — 96,125,661


the Pasco County, Florida Board ofCounty Commissioners (331,379) — — (331,379)

Internal Service Fund (564,848) — — (564,848)

Total other financing sources 95,229,434 — — 95,229,434

Excess (deficiency) of revenuesand other financing sourcesover expenditures (4,083) (27,390) — (31,473)

Fund balances, beginning of year 165,331 130,200 — 295,531Fund balances, end of year $ 161,248 102,810 — 264,058



Nonmajor Special Revenue Funds

September 30, 2015

25 (Continued)

Special Revenue Funds are used to account for the proceeds of special revenue sources that are legally restricted to specified purposes. The Pasco County, Florida Sheriff (the Sheriff) has the following nonmajor special revenue funds:

Training Fund – This fund accounts for fines and forfeitures for noncriminal traffic infraction payments that are paid to the Clerk of the Circuit Court and remitted to the Sheriff to be used for agency training programs.

Confiscation Fund – These funds are generated at the Sheriff’s Office level from funds confiscated as a result of an arrest and forwarded to the Board of County Commissioners. Each expenditure within the fund must be approved by the Board of County Commissioners before the funds are transferred to the Sheriff to be expended for the specified purpose.

Unclaimed Evidence Fund – Funds are collected within the Unclaimed Evidence Fund when evidence related to formally resolved legal matters is not claimed in a timely manner and the Sheriff has exhausted all of the necessary procedures in an effort to remit payment to the appropriate individual. The money is then deposited into and accounted for in the Unclaimed Evidence Fund. Funds can be expended at the discretion of the Sheriff in accordance with Florida Statute 705.

VOCA Grant Fund – This Fund accounts for federal awards passed through from the Florida Office of Attorney General and are used to provide assistance for victims of crime.

Officer Friendly Grant Fund – This fund accounts for funds received under a grant agreement with the federal government.

High Risk Youth Grant Fund – This fund accounts for funds received from the Department of Juvenile Justice.

Juvenile Assessment Fund – This fund accounts for funds received from the Department of Juvenile Justice to staff the Juvenile Assessment Center.

Parking Enforcement Fund – Parking citations for illegally parking in a disabled parking area are paid to the Clerk of the Circuit Court, per County Ordinance 97-14. A portion of the amount collected is remitted to the Sheriff and accounted for in the Parking Enforcement Fund. These funds are to be used to defray expenses for the administration and enforcement of the disabled parking sections.

Federal Forfeiture Fund – In accordance with the Federal Government Controlled Substances Act, in an effort to enhance the cooperation of state and local law enforcement offices, any state or local law enforcement agency that directly participates in an investigation or prosecution that results in a federal forfeiture may request an equitable share of the net proceeds of the forfeiture. The amount to be requested can be calculated by using the Guide to Equitable Sharing of Federally Forfeited Property for State and Local Law Enforcement Agencies. Once the funds have been collected by the Sheriff from the federal government, the funds can be used toward activities to enhance future investigations, law enforcement training, and the purchase of law enforcement equipment such as body armor and firearms.

Criminal Alien Assistance Fund – This fund accounts for funds received from the United States Department of Justice through the Pasco County Board in order to offset the cost of housing illegal aliens. The funds are used based upon program guidelines.


Nonmajor Special Revenue Funds

September 30, 2015

26

Drug Elimination Grant Fund – This fund accounts for funds received under a grant agreement with the federal government to help at risk communities with their drug problems.

SNAP Task Force Fund – This fund accounts for funds passed through the Florida Department of Law Enforcement from the U.S. Department of Justice. These funds provide for a multi-jurisdictional drug task force involving all of the local police departments.

Stop Violence vs. Women Fund – This fund accounts for funds passed through the Florida Coalition Against Violence from the Department of Children and Families. These funds provide for assistance for domestic violence.

Boater Education Project – This fund provides information that promotes safe boating in Pasco County.

V&N Gang Suppression (6) Fund – This fund accounts for funds used to target gang activity funded through the U.S. Department of Justice and are used to continue our program targeting gang activity.

Pasco HIDTA Task Force – A program to fight drug trafficking.

HVE Pedestrian Grant – This fund is used to inform and enforce pedestrian and bicycle statutes in Florida.

Domestic Marijuana Eradication Fund – This fund is used to support detection, dismantling, and eradication of domestically grown marijuana.

Crime Prevention Fund – This fund is used to account for funds received in accordance with the Crime Prevention ordinance per Florida Statute 775.083.

Community Projects Fund – This fund is used to account for funds received to implement various projects to enhance community relations and safety.

Solving Cold Cases with DNA – This fund allows for old case files to be re-evaluated and sent for DNA analysis.

Operation Stonegarden - Paradise Lost – This fund supports joint missions with Homeland Security to secure water boarders of the United States.

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’ rep

ort.


Fiduciary Funds

September 30, 2015

35

Fiduciary Funds are used to account for assets held by a governmental unit as trustee or agent for individuals, private organizations, and other governmental units.

Agency Funds – To account for the receipt and subsequent activity of moneys temporarily held for others. These moneys include amounts held for inmates of the County jail system, cash (appearance) bonds of accused individuals, and other miscellaneous items.

36


Combining Balance Sheet – Agency Funds

September 30, 2015

Cash Inmate EvidenceBonds Cash HoldingFund Fund Fund Total

Assets

Cash $ 550 27,908 559,648 588,106Due from other funds — — 13 13

Total assets 550 27,908 559,661 588,119

Liabilities

Cash appearance bonds 550 — — 550Due to individuals — 27,908 559,643 587,551Voucher payable — — 18 18

Total liabilities $ 550 27,908 559,661 588,119


37


Combining Statement of Changes in Assets and Liabilities – Agency Funds


October 1, September 30,Cash Bonds Fund 2014 Additions Deductions 2015

Assets:Cash $ 4,741 720,459 724,650 550

$ 4,741 720,459 724,650 550

Liabilities:Cash appearance bonds $ 4,741 720,459 724,650 550

$ 4,741 720,459 724,650 550

Inmate Cash Fund

Assets:Cash $ 38,941 1,765,615 1,776,648 27,908

$ 38,941 1,765,615 1,776,648 27,908

Liabilities:Due to individuals $ 38,941 1,765,615 1,776,648 27,908

$ 38,941 1,765,615 1,776,648 27,908

Evidence Holding Fund

Assets:Cash $ 480,257 308,065 228,674 559,648Due From other funds — 13 — 13

$ 480,257 308,078 228,674 559,661

Liabilities:Voucher payable — 18 — 18Due to individuals $ 480,257 308,060 228,674 559,643

$ 480,257 308,078 228,674 559,661

Total – Agency Funds

Assets:Cash $ 523,939 2,794,139 2,729,972 588,106Due from other funds — 13 — 13

$ 523,939 2,794,152 2,729,972 588,119

Liabilities:Cash appearance bonds $ 4,741 720,459 724,650 550Vouchers payable — 18 — 18Due to individuals 519,198 2,073,675 2,005,322 587,551

$ 523,939 2,794,152 2,729,972 588,119


38

Independent Auditors’ Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements



We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of each major fund and the aggregate remaining fund information of the Pasco County, Florida Sheriff, as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Sheriff’s basic financial statements, and have issued our report thereon dated August 2, 2016 which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however our report was not modified for this matter.


In planning and performing our audit of the financial statements, we considered the Pasco County, Florida Sheriff’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 Pasco County, Florida Sheriff’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Pasco County, Florida Sheriff’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified. 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. We did identify certain deficiencies in internal control, described below as findings 2015-001 and 2015-002 that we consider to be significant deficiencies.



39

Finding 2015 – 001

Criteria

Management is responsible for the preparation of financial statements in accordance with U.S. generally accepted accounting principles (GAAP).

Condition

We identified several adjusting entries required to present the financial statements in accordance with GAAP which included:

Improper presentation of initial funding from Pasco County, Florida for the self-insurance fund

Improper classification of transfers from the general fund to the internal service fund as charges for services instead of transfers

Improper presentation of the statement of cash flows

Context

All such entries were isolated to the presentation of transfers and other activity within the newly created self- insurance fund.

Effect

The financial statements for the self-insurance fund initially prepared by the accounting staff were not materially correct.

Cause

The internal service fund was new during 2015 and current accounting staff were not familiar with the accounting and related financial reporting required. This was complicated by the fact that upon creation and receipt of initial funding from Pasco County, there was no written documentation between the Sheriff’s office and the County as to how such funding was to be treated. The verbal discussions between the County and the Sheriff’s office was not appropriately communicated to those responsible for financial reporting.

Recommendation

We suggest when new transactions or activities are entered into by the Sheriff’s office that appropriate documentation is maintained as to purpose and intent and that accounting staff are timely advised in order to determine the impact, if any, on the financial statements.

Management’s Response

Concur with the recommendation. The accounting staff made the changes on the spot and are better prepared for accurately capturing and presenting specialized items in the financial statements.

40

Finding 2015 – 002

Criteria

The Sheriff maintains custodial and record keeping responsibility for the capital assets used by the office, even though such amounts are actually recorded as capital assets in the government-wide financial statements of Pasco County, Florida (the County).

Condition

In testing the capital asset activity of the Sheriff’s office for the year, we noted the following errors:

Training costs of approximately $54,000 were inappropriately recorded as a cost of the Sungard Software system upgrade

Capital asset disposals of $415,739 that occurred in fiscal year 2013 were not actually recorded in the capital asset records until fiscal year 2015

Capital asset acquisitions of $2,379,259 that occurred in fiscal year 2013 were not actually recorded in the capital asset records until the beginning of fiscal year 2015; as a result accumulated depreciation as of September 30, 2015 is understated by $415,457

Software with a cost of $1,983,076 is being improperly amortized before actually being placed in service. As a result the net book value of the asset is understated by $577,324

Context

The net book value of capital assets of the Sheriff’s office at September 30, 2015 was $9,972,620 and included additions of $7,505,918 and disposals of $3,561,406.

Effect

By improperly recording capital asset activity (both as to amount and timing), the capital asset related activity disclosed in the notes to the Sheriff’s financial statements is inaccurate. This results in the County recording inaccurate capital asset information in their financial statements, as such amounts are based on disclosures provided in the Sheriff’s financial statements

Cause

In the case of the training costs, there was a misunderstanding by staff of the application of relevant accounting guidance. For the untimely recording of acquisitions and disposals, accounting staff were not timely notified of the respective activity. Such errors generally related to items acquired/disposed of via trade or purchased by the County. For the over depreciated asset, management did not identify such assets as work in process and thus began depreciating them on the purchase date, versus the in service date.

Recommendation

We recommend the Sheriff review its internal policies and procedures relative to the maintenance of capital asset records to ensure that they provide for staff to be able to timely and accurately record such activity.

41

Management’s Response

Concur with the recommendation. The internal policies and procedures will be updated to include language from GASB 51 to reinforce compliance and prevent recurrences. The staff was knowledgeable and self-identified the recording of assets. Further review will be conducted to define the amortization of software assets and the compliance thereof.


As part of obtaining reasonable assurance about whether the Pasco County, Florida Sheriff’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the 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.

Pasco County, Florida Sheriff's Response to Findings

The Pasco County, Florida Sheriff's responses to the findings identified in our audit are described previously. The Pasco County, Florida Sheriff's responses were not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on the responses.


The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Pasco County, Florida Sheriff’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 Pasco County, Florida Sheriff’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


42

Management Letter


We have audited the financial statements of each major fund and the aggregate remaining fund information of the Pasco County, Florida Sheriff, as of and for the year ended September 30, 2015, and have issued our report thereon dated August 2, 2016, which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.

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. We have also issued our report dated August 2, 2016 onour consideration of the Pasco County, Florida Sheriff’s internal control over financial reporting and on our test of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. Disclosures in that report, if any, should be considered in conjunction with this management letter.

Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General,which govern the conduct of local governmental entity audits performed in the State of Florida, and require that certain items be addressed in this letter.


The Rules of the Auditor General, Section 10.554(1)(i)(1), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings or recommendations made in the preceding annual financial audit.

Other Matters

The Rules of the Auditor General, Section 10.554(1)(i)(2), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, any recommendations to improve the Pasco County, Florida Sheriff’s financial management. In connection with our audit, we did not have any such recommendations.

The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in the management letter any violations of provisions of contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.



43


The Rules of the Auditor General, Section 10.554(1)(i)(4), require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. In that regard, the Pasco County, Florida Sheriff was established by the Constitution of the State of Florida, Article VIII, Section 1(d). The Pasco County, Florida Sheriff does not have any component units.

* * * * * * *

This management letter is intended solely for the information and use of the Pasco County, Florida Sheriff, management, the Board of County Commissioners of Pasco County, Florida, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties.


44



We have examined the Pasco County, Florida Sheriff’s compliance with Section 218.415, Florida Statutes as of September 30, 2015. Management is responsible for the Pasco County, Florida Sheriff’s compliance with those requirements. Our responsibility is to express an opinion on the Pasco County, Florida Sheriff’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Pasco County, Florida Sheriff’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Pasco County, Florida Sheriff’s compliance with specified requirements.

In our opinion, the Pasco County, Florida Sheriff complied, in all material respects, with the aforementioned requirements as of September 30, 2015.




PASCO COUNTY, FLORIDA SUPERVISOR OF ELECTIONS


September 30, 2015


PASCO COUNTY, FLORIDASUPERVISOR OF ELECTIONS

Table of Contents

Page





Statement of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual –General Fund 5






Honorable Brian E. Corley, Supervisor of Elections Pasco County, Florida:


We have audited the accompanying financial statements of each major fund of the Pasco County, FloridaSupervisor of Elections as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Supervisor of Elections’ basic financial statements as listed in the table of contents.


Management is responsible for the preparation and fair presentation of these financial statements in accordance with U.S. generally accepted accounting principles; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from materialmisstatement, whether due to fraud or error.





Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of each major fund of the Pasco County, Florida Supervisor of Elections as of September 30, 2015, and the respective changes in financial position, and the budgetary comparison for the general fund for the year then ended in accordance with U.S. generally accepted accounting principles.



2

Emphasis of Matter

As discussed in note 1(a) to the financial statements, the accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These financial statements are not intended to be a complete presentation of the financial position of the Pasco County, Florida Supervisor of Elections as of September 30, 2015, and the changes in its financial position for the year then ended, in conformity with U.S. generally accepted accounting principles. Our opinion is not modified with respect to this matter.


In accordance with Government Auditing Standards, we have also issued our report dated March 16, 2016 on our consideration of the Pasco County, Florida Supervisor of Elections’ internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on 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 Pasco County, Florida Supervisor of Elections’ internal control over financial reporting and compliance.


3


Balance Sheet – Governmental Funds

September 30, 2015

Grant PollworkerElection Recruitment

General Activities and TrainingAssets Fund Fund Fund Total

Cash $ 481,371 — — 481,371Due from other funds — 91,570 25,965 117,535

Total assets $ 481,371 91,570 25,965 598,906

Liabilities and Fund Balance

Liabilities:Accounts payable $ 9,019 — — 9,019Accrued salaries and benefits 62,746 — — 62,746Unearned revenue — 89,707 22,024 111,731Due to other funds 117,535 — — 117,535Due to Pasco County, Florida Board

of County Commissioners 292,071 — — 292,071

Total liabilities 481,371 89,707 22,024 593,102

Fund balance – restricted for grant activity — 1,863 3,941 5,804

Total fund balance — 1,863 3,941 5,804Total liabilities and fund balance $ 481,371 91,570 25,965 598,906


4


Statement of Revenues, Expenditures, and Changes inFund Balances – Governmental Funds


Grant PollworkerElection Recruitment

General Activities and TrainingFund Fund Fund Total

Revenues:Intergovernmental $ 25,072 — 4,753 29,825Charges for services 4,294 — — 4,294Interest 1,871 85 32 1,988

Total revenues 31,237 85 4,785 36,107


Personal services 1,977,819 — — 1,977,819Operating 766,919 — 4,753 771,672

Capital outlay 47,051 — — 47,051

Total expenditures 2,791,789 — 4,753 2,796,542

Excess (deficiency) of revenuesover expenditures (2,760,552) 85 32 (2,760,435)


Pasco County, Florida Board of CountyCommissioners appropriations 3,052,623 — — 3,052,623

Transfers out:Distribution of excess appropriations to the

Pasco County, Florida Board of County Commissioners (292,071) — — (292,071)

Total other financing sources 2,760,552 — — 2,760,552

Excess of revenues and other financing sources over expendituresand other financing uses — 85 32 117

Fund balance – beginning of year — 1,778 3,909 5,687Fund balance – end of year $ — 1,863 3,941 5,804


5


Statement of Revenues, Expenditures, and Changes inFund Balance – Budget and Actual – General Fund


VarianceBudget with final

Original Final Actual budgetRevenues:

Intergovernmental $ — — 25,072 25,072Charges for services — — 4,294 4,294Interest — — 1,871 1,871

Total revenues — — 31,237 31,237


Personal services 2,061,497 2,061,497 1,977,819 83,678Operating 984,126 984,126 766,919 217,207

Capital outlay 7,000 7,000 47,051 (40,051)


Excess (deficiency) of revenuesover expenditures (3,052,623) (3,052,623) (2,760,552) 292,071


Pasco County, Florida Board of CountyCommissioners appropriations 3,052,623 3,052,623 3,052,623 —

Transfers out:Distribution of excess appropriations to the

Pasco County, Florida Board of CountyCommissioners — — (292,071) (292,071)

Total other financing sources 3,052,623 3,052,623 2,760,552 (292,071)

Excess of revenues and otherfinancing sources overexpenditures and otherfinancing uses $ — — — —





September 30, 2015

6 (Continued)



The Pasco County, Florida Supervisor of Elections (Supervisor of Elections) is an elected constitutional officer as provided for by the Constitution of the state of Florida. Pursuant to Chapter 129, Florida Statutes, the Supervisor of Elections’ budget is submitted to the Pasco County, Florida Board of County Commissioners (Board) for approval.

The financial statements presented include the general fund and special revenue funds of the Supervisor of Elections’ office. The accompanying financial statements were prepared for purposes of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits.

Section 10.556(4), Rules of the Auditor General for Local Governmental Entity Audits, requires the Supervisor of Elections to only present fund financial statements. Accordingly, due to the omission of government-wide financial statements and related disclosures, including a management’s discussion and analysis, these financial statements do not constitute a complete presentation of the financial position of the Supervisor of Elections as of September 30, 2015 and the changes in its financial position for the year then ended in conformity with Governmental Accounting Standards Board (GASB) Statement No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments, but otherwise constitute financial statements prepared in conformity with generally accepted accounting principles.

As a result of the budgetary oversight by the Board and financial dependency on the Board, the financial activities of the Supervisor of Elections, as a constitutional officer, are included in the Pasco County, Florida Comprehensive Annual Financial Report.

Transfers are provided by appropriations from the Board pursuant to law. Estimated receipts and budgeted fund balances must equal appropriations. The Supervisor of Elections is required to refund to the Board all excess appropriations annually; therefore, no unappropriated fund balance is carried forward.


Fund financial statements report detailed information about the Supervisor of Elections. The focus of governmental fund financial statements is on major funds rather than reporting funds by type. Each major fund is reported in a separate column.

Governmental Funds

Governmental funds are accounted for using the flow of current financial resources measurement focus. Only current assets and current liabilities, generally, are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in current assets and liabilities.



September 30, 2015

7 (Continued)

The Supervisor of Elections reports the following major governmental funds:

General Fund – The general fund is used to account for the general operations of the Supervisor of Elections and includes all transactions, which are not accounted for in another fund.

Grant Election Activities Fund – This fund accounts for funds received from the state of Florida. The fund is used to provide sample ballots.

Poll Worker Recruitment and Training Fund – This fund accounts for funds received from the state of Florida. The funds in this account are to be used to help recruit and train poll workers.

The modified accrual basis of accounting is used by governmental funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become measurable and available to finance current liabilities of the fiscal year). For this purpose, the Supervisor of Elections considers revenues to be available if they are collected within 60 days of the end of the current period. Grant revenues are considered susceptible to accrual if collected within one year of the end of the current period. Expenditures are recorded when the related fund liability is incurred, except for compensated absences, which are recognized as expenditures to the extent they have matured.

The appropriations from the Board are the primary source of funds considered to be susceptible to accrual.

Intergovernmental revenues are recognized when eligibility requirements are met and related amounts are available from the grantor. Interest income is recognized as it is earned and becomes measurable and available to pay liabilities of the current period.

Florida Statutes provide that the amount by which revenues and transfers exceed annual expenditures be remitted to the Board immediately following the fiscal year for which the funding was provided or following the fiscal year during which other revenue was recognized. The amount of this distribution is recorded as a liability and as an other financing use in the accompanying financial statements.

Capital outlays expended in the governmental fund operations are capitalized in the basic financial statements of the Board rather than in the governmental funds of the Supervisor of Elections.

(c) Unearned Revenue

Unearned revenue represents grant funds received which have not been expended at September 30, 2015. Revenue will be recognized in subsequent years when all eligibility requirements have been met.

(d) Compensated Absences

All regular full-time employees of the Supervisor of Elections are entitled to annual leave with pay pending completion of 90 days of continuous service. The employees are generally allowed to accumulate annual leave up to a maximum of 224 hours, depending on the number of years of service. An employee’s accumulated leave that exceeds 187.5 hours as of November 1 of each year is paid out at the first payroll in December of each year if funding permits. Upon termination, the employee is



September 30, 2015

8 (Continued)

paid for unused annual leave. Annual leave payments are included in operating costs when the payments are made to the employees. The Supervisor of Elections does not, nor is he legally required to, accumulate financial resources for these unmatured obligations. Accordingly, the liability for compensated absences is not reported in the governmental funds, but rather is reported in the basic financial statements of the Board.

(e) Use of Estimates

The preparation of the financial statements requires management of the Supervisor of Elections to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures during the period. Actual results could differ from those estimates.


Florida Statutes 129.03 and 129.201 govern the preparation, adoption, and administration of the Supervisor of Elections’ annual budget. The Supervisor of Elections submits a budget for the general fund to the Board for approval. The annual budget serves as the legal authorization for expenditures. Any subsequent amendments to the Supervisor of Elections’ total budget must be approved by the Board. Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at year-end. Budgetary control is maintained at the major object expenditure level. Budgetary changes within major object expenditure categories are made at the discretion of the Supervisor of Elections.


Budgets for other funds, while prepared, are not submitted to the Board for approval as they generally are governed by federal or state grant agreements.

(3) Cash

At September 30, 2015, the carrying value of the Supervisor of Election’s cash was as follows:

CarryingType value

Cash on hand $ 100Demand deposits 481,271

Total cash $ 481,371


At September 30, 2015, the Supervisor of Elections’ deposits were entirely covered by federal depository insurance or by collateral pledged with the state treasurer pursuant to Chapter 280, Florida



September 30, 2015

9 (Continued)

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.

(b) Credit Risk

The Supervisor of Elections’ policy is to follow the guidance in Section 219.075, Florida Statutesregarding the deposit of funds received and the investment of surplus funds. Sections 219.075 and 218.415, Florida Statutes authorize the Supervisor of Elections to invest in the Local Government Surplus Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act; Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency; direct obligations of the U.S. Treasury; federal agencies and instrumentalities; or interest-bearing time deposits or savings accounts in banks organized under the laws of the state of Florida, national banks organized under the laws of the United States and doing business and situated in the state of Florida, savings and loan associations which are under state supervision, or in federal savings and loan associations located in the state of Florida and organized under federal law and federal supervision, provided that any such deposits are secured by collateral as may be prescribed by law.

(c) Interest Rate Risk

The Supervisor of Elections has no specific investment policy regarding interest rate risk.

(4) Capital Assets

Capital assets used by the Supervisor of Elections are reported in the basic financial statements of the Board rather than in the governmental funds of the Supervisor of Elections. Upon acquisition, such assets are recorded as expenditures in the governmental funds of the Supervisor of Elections, and are capitalized in the basic financial statements of the Board. Capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets are valued at their estimated fair value on the date received. The Supervisor of Elections maintains custodial responsibility for the capital assets used by the office. No depreciation expense has been provided on capital assets in these financial statements. However, depreciation expense is recorded in the basic financial statements of the Board.



September 30, September 30,2014 Additions Retirements 2015

Accrued compensated absences $ 104,410 103,041 (118,967) 88,484



September 30, 2015

10 (Continued)

Of these liabilities, approximately $96,000 is expected to be paid during the fiscal year ended September 30, 2016. These long-term liabilities are not reported in the financial statements of the Supervisor of Elections since they have not matured.

(6) Related Party Transactions

During the year ended September 30, 2015, the Board provided funding for the Supervisor of Elections that amounted to $3,052,623. At September 30, 2015, the Supervisor of Elections had a payable due to the Board of $292,071 related to the distribution of excess appropriations.

(7) Retirement Plan


General Information

All of the Supervisor of Elections’ employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (SBA). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature.



(a) Pension Plan

Plan Description


Benefits Provided

Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who



September 30, 2015

11 (Continued)

retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers’ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service.


As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost-of-living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost-of-living adjustment. The annual cost-of-living adjustment is a proportion of three percent determined by dividing the sum of the pre-July 2011 service credit by the total service credit at retirement multiplied by three percent.Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement.


Contributions

Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions,



September 30, 2015

12 (Continued)

governmental employers are required to make contributions to the FRS based on state-wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively, were as follows: Regular—7.37% and 7.26%; Special Risk Administrative Support—42.07% and 32.95%; Special Risk—19.82% and 22.04%; Senior Management Service—21.14% and 21.43%; Elected Officers’—43.24% and 42.27%; and DROP participants—12.28% and 12.88%. These employer contribution rates include a HIS Plan subsidy of 1.26% and 1.66% for the periods October 1, 2014 through June 30, 2015and from July 1, 2015 through September 30, 2015, respectively.

The Supervisor of Elections’ contributions, excluding employee contributions, to the Pension Plan totaled $143,170 for the fiscal year ended September 30, 2015.


At September 30, 2015, the Supervisor of Elections reported a payable in the amount of $3,760 for outstanding contributions to the Pension Plan required for the fiscal year ended September 30, 2015. Such amounts are recorded as accrued salaries and benefits in the accompanying balance sheet –governmental funds.

(b) HIS Plan

Plan Description


Benefits Provided

For the fiscal year ended September 30, 2015, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be eligible to receive these benefits, a retiree under a State-administered retirement system must provide proof of health insurance coverage, which may include medicare.

Contributions

The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2015, the HIS contribution for the period October 1,2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015 was 1.26% and 1.66%,respectively. The Supervisor of Elections contributed 100% of its statutorily required contributions for the current year. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation.



September 30, 2015

13 (Continued)

In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled.

The Board makes contributions to the HIS Plan on behalf of the Supervisor of Elections.

(c) Investment Plan


As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate inthe Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member’s accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% of payroll and by forfeited benefits of plan members. Allocations to the investment member’s accounts during the 2014-15 fiscal year, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as follows: Regular class-6.30%, Special Risk Administrative Support class-7.95%, Special Risk class-14.00%, Senior Management Service class-7.67% and County Elected Officers class-11.34%.

For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS-covered employment within the five-year period, the employee will regain control over their account. If the employee does not return within the five-year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2015, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the County.

After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump-sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the



September 30, 2015

14 (Continued)

Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income.

The Supervisor of Elections’ Investment Plan pension expense totaled $7,650 for the fiscal year ended September 30, 2015.

As required by GASB Statement No. 68, Accounting and Financial Reporting for Pensions, liabilities related to the Supervisor of Elections’ participation in the Pension and HIS Plans are reported in the government wide financial statements of the Board.


The Supervisor of Elections provides postretirement healthcare benefits in accordance with Section 110.123, Florida Statutes, to all employees who retire from the employ of the Supervisor of Elections, until they are eligible for Medicare. To be eligible for postretirement healthcare benefits, the retiree must have at least six years of service. Retirees with more than six years of service, but less than 30 years of service pay 100% of the premium cost to receive postretirement healthcare benefits. Retirees with 30 or more years of service do not pay a premium to receive postretirement healthcare benefits; however, they surrender their monthly state subsidy of $150 per month. As required by GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, liabilities and activities related to these benefits are reported in the government-wide financial statements of the Board.

(9) Risk Management

The County is exposed to various risks of loss, including but not limited to general liability, auto liability, and workers’ compensation. The County is substantially self-insured and accounts for and finances its risks of uninsured loss through an internal service fund. All liabilities associated with these self-insured risks are reported in the basic financial statements of the Board. The Supervisor of Elections participates in the County’s risk management program.

The County has general liability insurance with $500,000 retention per claim with $1,000,000 retention limit per occurrence and $2,000,000 aggregate. Negligence claims in excess of the statutory limits set in Section 768.28, Florida Statutes, which provide for limited sovereign immunity of $100,000/$200,000 per occurrence can only be recovered through an act of the State Legislature. Effective October 1, 2011, sovereign immunity limits were increased to $200,000 per claim and $300,000 per occurrence for claims incurred after that date. The County has worker’s compensation insurance with a $650,000 deductible per occurrence for police/fire, and a $500,000 deductible per occurrence for all others. Settlements have not exceeded coverage in any of the past three fiscal years. All liabilities associated with these self–insured risks are reported in the basic financial statements of the County.



September 30, 2015

15

(10) Lease Commitments

The Supervisor of Elections has entered into certain noncancelable operating leases for election support equipment and office equipment necessary for the conduct of operations that expire at various dates during the next four years. Future minimum lease payments under these noncancelable lease agreements provide for aggregate minimum annual rental payments as follows:

Fiscal years:2016 $ 14,9192017 9,9252018 8,2602019 4,809

$ 37,913

Rental expense for all operating leases was $34,846 for the year ended September 30, 2015. There were no contingent rentals or sublease rentals associated with leases in effect at September 30, 2015.

(11) Contingencies

Grant funds received by the Supervisor of Elections are subject to audit by grantor agencies. Audits of these grants may result in disallowed costs, which may constitute a liability of the Supervisor of Elections. In the opinion of management, disallowed costs, if any, would be immaterial to the financial position of the Supervisor of Elections.

16

Independent Auditors’ Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements



We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of each major fund of the Pasco County, Florida Supervisor of Elections, as of and for the year then ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Supervisor of Elections’ basic financial statements, and have issued our report thereon dated March 16, 2016, which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.

Internal Control Over Financial Reporting

In planning and performing our audit of the financial statements, we considered the Pasco County, FloridaSupervisor of Elections’ 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 Pasco County, Florida Supervisor of Elections’ internal control. Accordingly, we do not express an opinion on the effectiveness of the Pasco County, Florida Supervisor of Elections’ 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 combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’sfinancial 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.


As part of obtaining reasonable assurance about whether the Pasco County, Florida Supervisor of Elections’ 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



17

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.


The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Pasco County, FloridaSupervisor of Elections’ internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Pasco County, FloridaSupervisor of Elections’ internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


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Management Letter


We have audited the financial statements of each major fund of the Pasco County, Florida Supervisor of Elections as of and for the year ended September 30, 2015, and have issued our report thereon dated March 16, 2016, which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.

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. We have also issued our report dated March 16, 2016 on our consideration of the Pasco County, Florida Supervisor of Elections’ internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. Disclosures in that report, if any, should be considered in conjunction with this management letter.

Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which govern the conduct of governmental entity audits performed in the State of Florida and require that certain items be addressed in this letter.


The Rules of the Auditor General, Section 10.554(1)(i)(1), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and compliance and other matters, whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings or recommendations made in the preceding annual financial audit.

Other Matters

The Rules of the Auditor General, Section 10.554(1)(i)(2), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and compliance and other matters, any recommendations to improve the Pasco County, Florida Supervisor of Elections’ financial management. In connection with our audit, we did not have any such recommendations.

The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in the management letter any noncompliance with provisions of contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.



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The Rules of the Auditor General, Section 10.554(1)(i)(4), require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. In that regard, the Pasco County, Florida Supervisor of Elections was established by the Constitution of the State of Florida, Article VIII, Section 1(d). The Pasco County, Florida Supervisor of Elections has no component units.


This management letter is intended solely for the information and use of the Pasco County, Florida Supervisor of Elections, management, the Board of County Commissioners of Pasco County, Florida, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties.


20



We have examined the Pasco County, Florida Supervisor of Elections’ compliance with Section 218.415, Florida Statutes as of September 30, 2015. Management is responsible for the Pasco County, Florida Supervisor of Elections’ compliance with those requirements. Our responsibility is to express an opinion on the Pasco County, Florida Supervisor of Elections’ compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the AmericanInstitute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidenceabout the Pasco County, Florida Supervisor of Elections’ compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Pasco County, Florida Supervisor of Elections’ compliance with specified requirements.

In our opinion, the Pasco County, Florida Supervisor of Elections complied, in all material respects, with the aforementioned requirements as of September 30, 2015.




PASCO COUNTY, FLORIDA TAX COLLECTOR


September 30, 2015



Table of Contents

Page



Balance Sheet – General Fund 3

Statement of Revenues, Expenditures, and Changes in Fund Balance – General Fund 4

Statement of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual – General Fund 5

Balance Sheet – Agency Funds 6


Combining Information:

Combining Balance Sheet – Agency Funds 19

Combining Statement of Changes in Assets and Liabilities – Agency Funds 20





The Honorable Mike Fasano, Tax Collector Pasco County, Florida:


We have audited the accompanying financial statements of the general fund and the aggregate remaining fund information of the Pasco County, Florida Tax Collector, as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Tax Collector’s basic financial statements as listed in the table of contents.







Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the general fund, and the aggregate remaining fund information of the Pasco County, Florida Tax Collector as of September 30, 2015, and the respective changes in financial position, and the budgetary



2

comparison – general fund, for the year then ended, in accordance with U.S. generally accepted accounting principles.

Emphasis of Matter

As discussed in note 1(a) to the financial statements, the accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits. These financial statements are not intended to be a complete presentation of the financial position of the Pasco County, Florida Tax Collector as of September 30, 2015, and the changes in its financial position for the year then ended, in conformity with U.S. generally accepted accounting principles. Our opinions are not modified with respect to this matter.

Supplementary Information

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Pasco County, Florida Tax Collector’s basic financial statements. The combining balance sheet and combining statement of changes in assets and liabilities – agency funds are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining balance sheet and combining statement of changes in assets and liabilities – agency funds are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining balance sheet and combining statement of changes in assets and liability – agency funds are fairly stated in all material respects in relation to the basic financial statements taken as a whole.


In accordance with Government Auditing Standards, we have also issued our report dated May 13, 2016 onour consideration of the Pasco County, Florida Tax Collector’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is 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 Pasco County, Florida Tax Collector’s internal control over financial reporting and compliance.

May 13, 2016 Certified Public Accountants

3

PASCO COUNTY, FLORIDATAX COLLECTOR

Balance Sheet – General Fund

September 30, 2015

Assets

Cash and cash equivalents $ 1,413,402Due from other funds 244,488Due from other governments 24,377Deposits 10,026

Total assets $ 1,692,293


Liabilities:Accrued liabilities $ 434,893Due to Pasco County, Florida Board of County Commissioners 1,147,799Due to other governmental agencies 109,601

Total liabilities 1,692,293

Fund balance —Total liabilities and fund balance $ 1,692,293


4


Statement of Revenues, Expenditures, and Changesin Fund Balance – General Fund


Revenues:Commissions:

Pasco County, Florida Board of County Commissioners $ 6,792,785Other governmental units 1,068,668

Charges for services 4,242,962Other 150,000Investment return 5,899



Personal services 9,229,392Operating 1,157,212

Capital outlay 616,310

Total expenditures 11,002,914

Excess of revenues over expenditures 1,257,400

Other financing sources (uses):Transfers out:

Distribution of excess commissions to the Pasco County, Florida Board of CountyCommissioners (1,147,799)

Distribution of excess commissions to other governmental units (109,601)

Total other financing sources (uses) (1,257,400)

Excess of revenues over expenditures and other financing sources (uses) —



5


Statement of Revenues, Expenditures, and Changesin Fund Balance – Budget and Actual – General Fund


Budget Variance withOriginal Final Actual final budget

Revenues:Commissions:

Pasco County, Florida Board ofCounty Commissioners $ 6,750,000 6,750,000 6,792,785 42,785

Other governmental units 1,056,000 1,056,000 1,068,668 12,668Charges for services 4,446,559 4,446,559 4,242,962 (203,597) Other 10,000 10,000 150,000 140,000Investment return 6,500 6,500 5,899 (601)

Total revenues 12,269,059 12,269,059 12,260,314 (8,745)


Personal services 9,828,025 9,387,278 9,229,392 157,886Operating 973,032 1,157,468 1,157,212 256

Capital outlay 360,000 616,311 616,310 1


Excess of revenues overexpenditures 1,108,002 1,108,002 1,257,400 149,398

Other financing sources (uses):Transfers out:

Distribution of excess commissionsto the Pasco County, FloridaBoard of CountyCommissioners (1,011,384) (1,011,384) (1,147,799) (136,415)

Distribution of excess commissionsto other governmental units (96,618) (96,618) (109,601) (12,983)

Total other financing sources (uses) (1,108,002) (1,108,002) (1,257,400) (149,398)

Excess of revenues overexpenditures and otherfinancing sources (uses) $ — — — —



6


Balance Sheet – Agency Funds

September 30, 2015

Assets

Cash and cash equivalents $ 4,275,627Investments 2,000,923

Total assets $ 6,276,550

Liabilities

Due to individuals $ 1,228,128Due to other funds 244,488Due to other constitutional officers 8Due to other governments 4,803,926

Total liabilities $ 6,276,550




September 30, 2015

7 (Continued)



The Pasco County, Florida Tax Collector (Tax Collector) is an elected constitutional officer as provided for by the Constitution of the State of Florida. Pursuant to Chapter 195.087, Florida Statutes, the Tax Collector’s budget is submitted to the Florida Department of Revenue for approval and a copy is forwarded to the Pasco County, Florida Board of County Commissioners (the Board).

As an elected official of Pasco County, Florida (the County), the Tax Collector is charged with responsibility for the collection of ad valorem taxes levied by the County, the School Board, special taxing districts, municipalities, and other taxes and fees levied by the County. The office is funded by commissions charged based on the amount of collections. Additionally, the Tax Collector performs services for various state agencies. The following are the State of Florida agencies for which the Tax Collector collects fees:

Department of Highway Safety and Motor Vehicles – serves as agent for the Division of Motor Vehicles, processes title applications and transfers, renews and issues license plates and decals, processes transfers of boat titles, and registers both pleasure and commercial boats on an annual basis. The Tax Collector also serves as agent for the Division of Drivers Licenses.

Department of Revenue – collects sales tax on vessels, motor vehicles, and Lemon Law fees.

Florida Fish and Wildlife Conservation Commission – issues hunting and fishing permits and licenses.

Department of Agriculture – issues concealed weapon permits (new and renewals).

Pasco County Department of Health – issues Florida native born official birth certificates.

The financial statements presented include the general fund and agency funds of the Tax Collector’s office. The accompanying financial statements were prepared for the purpose of complying with Section 218.39, Florida Statutes, and Section 10.557(3), Rules of the Auditor General for Local Governmental Entity Audits.

Section 10.556(3), Rules of the Auditor General for Local Governmental Entity Audits, requires the Tax Collector to only present fund financial statements. Accordingly, due to the omission of government-wide financial statements and related disclosures, including a management’s discussion and analysis, these financial statements do not constitute a complete presentation of the financial position of the Tax Collector as of September 30, 2015 and the changes in its financial position for the year then ended in conformity with Governmental Accounting Standards Board (GASB) Statement No. 34, Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local Governments, but otherwise constitute financial statements prepared in conformity with U.S. generally accepted accounting principles.

The financial activities of the Tax Collector, as a constitutional officer, are included in Pasco County, Florida’s Comprehensive Annual Financial Report.



September 30, 2015

8 (Continued)


Fund financial statements report detailed information about the Tax Collector’s operations. The focus of governmental fund financial statements is on major funds rather than reporting funds by type. Each major fund is reported in a separate column.

Governmental Funds

The governmental funds are accounted for using the flow of current financial resources measurement focus. Only current assets and current liabilities are generally included on the balance sheet. Operating statements for these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. The Tax Collector’s only governmental fund is the general fund. The general fund is used to account for the general operations of the Tax Collector’s office and includes all transactions that are not accounted for in another fund.

The modified accrual basis of accounting is used by governmental funds. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become measurable and available to finance liabilities of the current fiscal year). For this purpose, the Tax Collector considers revenues to be available if they are collected within 60 days of the end of the current period. Expenditures are recorded when the related fund liability is incurred, except for certain compensated absences, which are recognized as expenditures to the extent they have matured.

A significant amount of the Tax Collector’s revenue is received from taxing authorities. These monies are virtually unrestricted and are revocable only for failure to comply with prescribed compliance requirements. These resources are reflected as revenue at the time of receipt; earlier if the “susceptible to accrual” criteria are met.

Investment return is recognized when earned and becomes measurable and available to pay liabilities of the current period.

Florida Statutes provide that the amount by which revenues and transfers exceed annual expenditures be remitted to the Board immediately following the fiscal year for which the funding was provided or following the fiscal year during which other revenue was recognized.

Florida Statutes further provide that the excess of revenues over expenditures held by the Tax Collector be distributed to each governmental agency in the same proportion as the commissions and fees paid by each governmental agency bear to total commission and fee revenue. The amounts of these distributions are recorded as liabilities and as other financing uses in the accompanying financial statements.

Capital outlays expended in the general fund are capitalized in the basic financial statements of the Board rather than in governmental funds of the Tax Collector.

Fiduciary Funds

Agency Funds – These funds are used to account for assets held by the Tax Collector in a trustee capacity or as an agent for individuals, private organizations, and other governments. Agency funds



September 30, 2015

9 (Continued)

are custodial in nature (assets equal liabilities), and do not involve measurement of results of operations or have a measurement focus. Agency funds are accounted for using the modified accrual basis of accounting.

(c) Cash Equivalents

Cash equivalents are defined as highly liquid investments with original maturities of three months or less. Cash equivalents of $1,154,790 at September 30, 2015 consist of money market funds.

(d) Investments

The Tax Collector participates in the Florida Fixed Income Trust Fund (the Fund) which is a preferred deposit fund consisting of money market funds carried at amortized cost to maintain a constant net asset value (NAV) of $1.00. The Fund was formed through indenture of trust pursuant to Florida Statutes, Sections 163.01 and 218.415.

(e) Compensated Absences

All full-time employees of the Tax Collector are entitled to annual leave and medical leave with pay. The employees are generally allowed to accumulate annual leave up to a maximum of 360 hours and medical leave without limit. Upon termination, the employee is paid for up to one-fourth of accumulated medical leave, depending on length of service, not to exceed 100 hours, and all of the accumulated annual leave. Annual leave and medical leave payments are included in personal services when the payments are made to the employees. The Tax Collector does not, nor is he legally required to, accumulate financial resources for these unmatured obligations. Accordingly, the liability for compensated absences is not reported in the general fund but rather is reported in the basic financial statements of the Board.

(f) Use of Estimates

The preparation of the financial statements in accordance with U.S. generally accepted accounting principles requires management of the Tax Collector to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates.

(2) Property Taxes

Taxes in Pasco County are levied by the Board and other taxing authorities. The millage levies are determined on the basis of estimates of revenue needs and the total taxable valuations within the jurisdiction of the Board and other taxing authorities. No aggregate ad valorem tax millage in excess of 10 mills on the dollar can be levied by the Board against property in the County as specified in Section 200.071, Florida Statutes.

Each year the total taxable property valuation is established by the Pasco County Property Appraiser, and the list of property assessments is submitted to the State Department of Revenue for approval. Taxes, assessed as of January 1 of each year, are due and payable on November 1 of each year or as soon thereafter as the assessment roll is opened for collection. Pursuant to Florida law, all owners of property have the



September 30, 2015

10 (Continued)

responsibility of ascertaining the amount due and paying it before April 1 of the year following the year in which the tax was assessed.

Chapter 197, Florida Statutes, governs property tax collections.

(a) Current Taxes

All property taxes become due and payable on November 1, and are delinquent on April 1 of the following year. Discounts are allowed for early payment of 4% in November, 3% in December, 2% in January, and 1% in February.

(b) Unpaid Taxes – Sale of Tax Certificates

The Tax Collector advertises, as required by Florida Statutes, and sells tax certificates on all real property for unpaid taxes. The tax receivable is struck off the tax roll to the person who purchased the tax certificate and has paid the taxes. Certificates not sold are transferred to the County. The Tax Collector must receive payment before the certificates are recorded. Any person owning land upon which a tax certificate has been sold may redeem the tax certificate by paying the Tax Collector the face amount of the tax certificate plus interest and other costs.

(c) Tax Deeds

Two years after the purchase of a tax certificate, the certificate holder may file an application for tax deed sale. The County, as a certificate owner, exercises similar procedures. Tax deeds are awarded to the highest bidder for the property, which is sold at public auction by the Clerk of the Circuit Court.


Section 195.087, Florida Statutes, governs the preparation, adoption, and administration of the Tax Collector’s annual budget. The Tax Collector prepares a budget for the general fund and submits it to the Florida Department of Revenue for approval. Any subsequent amendments to the total budget must be approved by the Florida Department of Revenue. The budget is prepared on a basis consistent with U.S. generally accepted accounting principles. The annual budget serves as the legal authorization for expenditures. Expenditures may not legally exceed appropriations at the fund level. Appropriations lapse at year-end. Budgetary control is maintained at the departmental major object expenditure level. Budgetary changes within major object expenditure categories are made at the discretion of the Tax Collector.

The original budget is the first complete appropriated budget. The final budget is the original budget adjusted for all reserves, transfers, allocations, supplemental appropriations, and other legally authorized changes applicable to the fiscal year, whenever, legally authorized.



September 30, 2015

11 (Continued)

(4) Cash and Cash Equivalents

As of September 30, 2015, the Tax Collector had the following cash and cash equivalents:

Carrying CreditType value rating Maturities

Cash and cash equivalents:Cash on hand $ 20,675 N/A N/ADemand deposits 4,513,564 N/A N/AMoney market funds 1,154,790 AAAm N/A

Total cash and cash equivalents $ 5,689,029

Investments:Florida Fixed Income Trust $ 2,000,923 Unrated 1 day

Total cash, cash equivalents, and investments $ 7,689,952

Such amounts are reported as $1,413,402 and $6,276,550 in the general fund and agency funds, respectively.


At September 30, 2015, the Tax Collector’s deposits were entirely covered by federal depository insurance or by collateral pledged with the State Treasurer pursuant to Chapter 280, Florida Statutes. Under this Chapter, in the event of default by a participating financial institution (a qualified public depository), all participating institutions are obligated to reimburse the governmental entity for the loss.


There is no specific investment policy regarding interest rate risk.

(c) Credit Risk

The Tax Collector’s policy is to follow the guidance in Section 219.075, Florida Statutes, regarding the deposit of funds received and the investment of surplus funds. Sections 219.075 and 218.415, Florida Statutes, authorize the Tax Collector to invest in the Local Government Surplus Funds Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act; Securities and Exchange Commission registered money market funds with the highest credit quality ratings from a nationally recognized rating agency; direct obligations of the U.S. Treasury; federal agencies and instrumentalities; or interest-bearing time deposits or savings accounts in banks organized under the laws of the State of Florida, national banks organized under the laws of the United States and doing business and situated in the State of Florida, savings and loan associations that are under State supervision, or in federal savings and loan associations located in



September 30, 2015

12 (Continued)

the State of Florida and organized under federal law and federal supervision, provided that any such deposits are secured by collateral as may be prescribed by law.

(5) Capital Assets

Capital assets used by the Tax Collector are reported in the basic financial statements of the Board rather than in the governmental funds of the Tax Collector. Upon acquisition, such assets are recorded as expenditures in the general fund of the Tax Collector and are capitalized in the basic financial statements of the Board. Capital assets are valued at historical cost or estimated historical cost if actual historical cost is not available. Donated capital assets, if any, are valued at their estimated fair value on the date received. The Tax Collector maintains custodial responsibility for the capital assets used by the office. No depreciation expense has been provided on capital assets in these financial statements. However, depreciation expense on these assets is recorded in the basic financial statements of the Board.


The following is a summary of changes in general long-term liabilities which are reported in the basic financial statements of the Board:

October 1, September 30,2014 Additions Retirements 2015

Accrued compensated absences $ 393,016 508,366 (407,600) 493,782

Of these liabilities, approximately $500,000 is expected to be paid during the fiscal year ending September 30, 2016. These long-term liabilities are not reported in the financial statements of the Tax Collector since they have not matured.

(7) Related-Party Transactions

The Board paid commissions to the Tax Collector that amounted to $6,792,785 during the year ended September 30, 2015. At September 30, 2015, the Tax Collector had a payable due to the Board of County Commissioners of $1,147,799, for excess commissions received.

(8) Florida Retirement System

General Information

All of the Tax Collector’s employees participate in the Florida Retirement System (FRS). As provided by Chapters 121 and 112, Florida Statutes, the FRS provides two cost sharing, multiple employer defined benefit plans administered by the Florida Department of Management Services, Division of Retirement, including the FRS Pension Plan (Pension Plan) and the Retiree Health Insurance Subsidy (HIS Plan). Under Section 121.4501, Florida Statutes, the FRS also provides a defined contribution plan (Investment Plan) alternative to the FRS Pension Plan, which is administered by the State Board of Administration (SBA). As a general rule, membership in the FRS is compulsory for all employees working in a regularly established position for a state agency, county government, district school board, state university, community college, or a participating city or special district within the State of Florida. The FRS provides retirement and



September 30, 2015

13 (Continued)

disability benefits, annual cost of living adjustments, and death benefits to plan members and beneficiaries. Benefits are established by Chapter 121, Florida Statutes, and Chapter 60S, Florida Administrative Code. Amendments to the law can be made only by an act of the Florida State Legislature.



(a) Pension Plan

Plan Description

The Pension Plan is a cost sharing multiple employer defined benefit pension plan, with a Deferred Retirement Option Program (DROP) for eligible employees.

Benefits Provided

Benefits under the Pension Plan are computed on the basis of age, average final compensation, and service credit. For Pension Plan members enrolled before July 1, 2011, Regular class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Vested members with less than 30 years of service may retire before age 62 and receive reduced retirement benefits. Special Risk Administrative Support class members who retire at or after age 55 with at least six years of credited service or 25 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 1.6% of their final average compensation based on the five highest years of salary, for each year of credited service. Special Risk class members (sworn law enforcement officers, firefighters, and correctional officers) who retire at or after age 55 with at least six years of credited service, or with 25 years of service regardless of age, are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service. Senior Management Service class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 2.0% of their final average compensation based on the five highest years of salary for each year of credited service. Elected Officers’ class members who retire at or after age 62 with at least six years of credited service or 30 years of service regardless of age are entitled to a retirement benefit payable monthly for life, equal to 3.0% of their final average compensation based on the five highest years of salary for each year of credited service.

For Plan members enrolled on or after July 1, 2011, the vesting requirement is extended to eight years of credited service for all these members and increasing normal retirement to age 65 or 33 years of service regardless of age for Regular, Senior Management Service, and Elected Officers’ class members, and to age 60 or 30 years of service regardless of age for Special Risk and Special Risk



September 30, 2015

14 (Continued)

Administrative Support class members. Also, the final average compensation for all these members will be based on the eight highest years of salary.

As provided in Section 121.101, Florida Statutes, if the member is initially enrolled in the Pension Plan before July 1, 2011, and all service credit was accrued before July 1, 2011, the annual cost of- living adjustment is three percent per year. If the member is initially enrolled before July 1, 2011, and has service credit on or after July 1, 2011, there is an individually calculated cost of living adjustment. The annual cost of living adjustment is a proportion of three percent determined by dividing the sum of the pre July 2011 service credit by the total service credit at retirement multiplied by three percent. Plan members initially enrolled on or after July 1, 2011, will not have a cost of living adjustment after retirement.


Contributions

Effective July 1, 2011, all enrolled members of the FRS, other than DROP participants, are required to contribute three percent of their salary to the FRS. In addition to member contributions, governmental employers are required to make contributions to the FRS based on state wide contribution rates established by the Florida Legislature. These rates are updated as of July 1 of each year. The employer contribution rates by job class for the periods from October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively, were as follows: Regular – 7.37% and 7.26%; Special Risk Administrative Support – 42.07% and 32.95%; Special Risk – 19.82% and 22.04%; Senior Management Service – 21.14% and 21.43%; Elected Officers’ – 43.24% and 42.27%; and DROP participants – 12.28% and 12.88%. These employer contribution rates include a HIS Plan subsidy of 1.26% and 1.66% for the periods October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015, respectively.

The Tax Collector’s contributions, excluding employee contributions, to the Pension Plan totaled approximately $479,700 for the fiscal year ended September 30, 2015.


At September 30, 2015, the Tax Collector reported a payable in the amount of $76,890 for outstanding contributions to the Pension Plan required for the fiscal year ended September 30, 2015. Such amounts are recorded as accrued liabilities in the accompanying balance sheet – general fund.

(b) HIS Plan

Plan Description

The HIS Plan is a cost sharing multiple employer defined benefit pension plan established under Section 112.363, Florida Statutes, and may be amended by the Florida legislature at any time. The benefit is a monthly payment to assist retirees of State administered retirement systems in paying



September 30, 2015

15 (Continued)

their health insurance costs and is administered by the Florida Department of Management Services, Division of Retirement.

Benefits Provided

For the fiscal year ended September 30, 2015, eligible retirees and beneficiaries received a monthly HIS payment of $5 for each year of creditable service completed at the time of retirement, with a minimum HIS payment of $30 and a maximum HIS payment of $150 per month. To be eligible to receive these benefits, a retiree under a State administered retirement system must provide proof of health insurance coverage, which may include medicare.

Contributions

The HIS Plan is funded by required contributions from FRS participating employers as set by the Florida Legislature. Employer contributions are a percentage of gross compensation for all active FRS members. For the fiscal year ended September 30, 2015, the HIS contribution for the period October 1, 2014 through June 30, 2015 and from July 1, 2015 through September 30, 2015 was 1.26% and 1.66%, respectively. The Tax Collector contributed 100% of its statutorily required contributions for the current year. HIS Plan contributions are deposited in a separate trust fund from which payments are authorized. HIS Plan benefits are not guaranteed and are subject to annual legislative appropriation. In the event legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled.

The Board makes contributions to the HIS Plan on behalf of the Tax Collector.

(c) Investment Plan


As provided in Section 121.4501, Florida Statutes, eligible FRS members may elect to participate in the Investment Plan in lieu of the FRS defined benefit plan. County employees participating in DROP are not eligible to participate in the Investment Plan. Employer and employee contributions, including amounts contributed to individual member’s accounts, are defined by law, but the ultimate benefit depends in part on the performance of investment funds. Benefit terms, including contribution requirements, for the Investment Plan are established and may be amended by the Florida Legislature. The Investment Plan is funded with the same employer and employee contribution rates that are based on salary and membership class (Regular Class, Elected County Officers, etc.), as the Pension Plan. Contributions are directed to individual member accounts, and the individual members allocate contributions and account balances among various approved investment choices. Costs of administering the Investment Plan, including the FRS Financial Guidance Program, are funded through an employer contribution of 0.04% of payroll and by forfeited benefits of plan members. Allocations to the investment member’s accounts during the 2014-15 fiscal year, as established by Section 121.72, Florida Statutes, are based on a percentage of gross compensation, by class, as



September 30, 2015

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follows: Regular class 6.30%, Special Risk Administrative Support class 7.95%, Special Risk class 14.00%, Senior Management Service class 7.67%, and County Elected Officers class 11.34%.

For all membership classes, employees are immediately vested in their own contributions and are vested after one year of service for employer contributions and investment earnings. If an accumulated benefit obligation for service credit originally earned under the Pension Plan is transferred to the Investment Plan, the member must have the years of service required for Pension Plan vesting (including the service credit represented by the transferred funds) to be vested for these funds and the earnings on the funds. Nonvested employer contributions are placed in a suspense account for up to five years. If the employee returns to FRS covered employment within the five year period, the employee will regain control over their account. If the employee does not return within the five year period, the employee will forfeit the accumulated account balance. For the fiscal year ended September 30, 2015, the information for the amount of forfeitures was unavailable from the SBA; however, management believes that these amounts, if any, would be immaterial to the County.

After termination and applying to receive benefits, the member may rollover vested funds to another qualified plan, structure a periodic payment under the Investment Plan, receive a lump sum distribution, leave the funds invested for future distribution, or any combination of these options. Disability coverage is provided; the member may either transfer the account balance to the Pension Plan when approved for disability retirement to receive guaranteed lifetime monthly benefits under the Pension Plan, or remain in the Investment Plan and rely upon that account balance for retirement income.

The Tax Collector’s Investment Plan pension expense totaled approximately $91,100 for the fiscal year ended September 30, 2015.

As required by GASB Statement No. 68, Accounting and Financial Reporting for Pensions, liabilities related to the Tax Collector’s participation in the Pension and HIS Plans are reported in the government wide financial statements of the Board.

(9) Other Post Employment Benefits

The Tax Collector provides post retirement health care benefits in accordance with Section 110.123, Florida Statutes, to all employees who retire from the employment of the Tax Collector. To be eligible for post retirement health care benefits, the retiree must have at least six years of service. Retirees with more than six years of service, but less than 30 years of service pay 100% of the premium cost to receive post retirement health care benefits. Retirees with 30 or more years of service do not pay a premium to receive post retirement health care benefits; however, they surrender their monthly state subsidy of $150 per month. As required by GASB Statement No. 45 (GASB 45), Accounting and Financial Reporting by Employers for Post Employment Benefits Other Than Pensions, liabilities and activities related to these benefits are reported in the government-wide financial statements of the Board.

(10) Risk Management

Pasco County (the County) is exposed to various risks of loss, including but not limited to general liability, auto liability, and workers’ compensation. The County is substantially self-insured and accounts for and



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finances its risks of uninsured loss through an internal service fund. The Tax Collector participates in the County’s risk management program. All liabilities associated with these self-insured risks are reported in the basic financial statements of the Board.

The County has general liability insurance with $500,000 retention per claim with $1,000,000 retention limit per occurrence and $2,000,000 aggregate. Negligence claims in excess of the statutory limits set in Section 768.28, Florida Statutes, which provide for limited sovereign immunity of $100,000/$200,000 per occurrence, can only be recovered through an act of the State Legislature. Effective October 1, 2011, sovereign immunity limits were increased to $200,000 per claim and $300,000 per occurrence for claims incurred after that date. The County had workers’ compensation insurance with a $650,000 deductible per occurrence for police/fire, and a $500,000 deductible per occurrence for all others. Settlements have not exceeded coverage in any of the past three fiscal years. All liabilities associated with these self–insured risks are reported in the basic financial statements of the County.

(11) Lease Commitments

The Tax Collector leases certain office facilities, under noncancelable operating leases, which are utilized solely by the Tax Collector. The commitments under these lease agreements provide for aggregate minimum annual rental payments as follows:

Fiscal years:2016 $ 118,882 2017 122,014 2018 126,025 2019 130,175 2020 134,467 2021 through 2024 554,639

$ 1,186,202

Rental expense for all operating leases aggregated $46,681 for the year ended September 30, 2015. There were no contingent rentals or sublease rentals associated with the leases in effect at September 30, 2015.

(12) Litigation

The Tax Collector is involved as defendant or plaintiff in certain litigation and claims arising from the ordinary course of operations. Any judgments against the Tax Collector would be settled by the Board. In the opinion of the Tax Collector and legal counsel, the range of potential recoveries or liabilities will not materially affect the financial position of the Tax Collector.


Agency Funds

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Agency Funds are used to account for assets held by a governmental unit as trustee or agent for individuals, private organizations, and other governmental units.

Tax Collection Fund – This fund is used to account for the receipt and distribution of ad valorem taxes, hunting and fishing licenses, and permits collected for Pasco County and other independent taxing authorities.

Motor Vehicle Fund – This fund is used to account for the receipt and distribution of moneys collected for motor vehicle registrations, titles, sales tax, and driver licenses.

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Combining Balance Sheet – Agency Funds

September 30, 2015

Tax MotorCollection Vehicle

Assets Fund Fund Total

Cash and cash equivalents $ 3,222,854 1,052,773 4,275,627Investments 2,000,923 — 2,000,923

Total assets $ 5,223,777 1,052,773 6,276,550

Liabilities

Due to individuals $ 1,219,789 8,339 1,228,128Due to other funds 61,535 182,953 244,488Due to other constitutional officers — 8 8Due to other governments 3,942,453 861,473 4,803,926

Total liabilities $ 5,223,777 1,052,773 6,276,550


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Combining Statement of Changes in Assetsand Liabilities – Agency Funds


Balance, Balance,October 1, September 30,

Tax Collection Fund 2014 Additions Deductions 2015

Assets:Cash and cash equivalents $ 4,864,906 1,126,578,898 1,128,220,950 3,222,854Investments — 61,904,745 59,903,822 2,000,923

Total assets $ 4,864,906 1,188,483,643 1,188,124,772 5,223,777

Liabilities:Due to individuals $ 825,653 17,260,668 16,866,532 1,219,789Due to other funds 59,946 152,978 151,389 61,535Due to other governments 3,979,307 631,760,503 631,797,357 3,942,453

Total liabilities $ 4,864,906 649,174,149 648,815,278 5,223,777

Motor Vehicle Fund

Assets:Cash and cash equivalents $ 1,135,824 51,795,321 51,878,372 1,052,773Due from other governments 28,563 — 28,563 —

Total assets $ 1,164,387 51,795,321 51,906,935 1,052,773

Liabilities:Due to individuals $ 3,206 205,620 200,487 8,339Due to other funds 317,630 196,033 330,710 182,953Due to other constitutional officers 12 152 156 8Due to other governments 843,539 52,032,506 52,014,572 861,473


Total – All Agency Funds

Assets:Cash and cash equivalents $ 6,000,730 1,178,374,219 1,180,099,322 4,275,627Investments — 61,904,745 59,903,822 2,000,923Due from other governments 28,563 — 28,563 —

Total assets $ 6,029,293 1,240,278,964 1,240,031,707 6,276,550

Liabilities:Due to individuals $ 828,859 17,466,288 17,067,019 1,228,128Due to other funds 377,576 349,011 482,099 244,488Due to other constitutional officers 12 152 156 8Due to other governments 4,822,846 683,793,009 683,811,929 4,803,926



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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 general fund, and the aggregate remaining fund information of the Pasco County, Florida Tax Collector, as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the Pasco County, Florida Tax Collector’s basic financial statements, and have issued our report thereon dated May 13, 2016 which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.


In planning and performing our audit, we considered the Pasco County, Florida Tax Collector’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 Pasco County, Florida Tax Collector’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Pasco County, Florida Tax Collector’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or 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 combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to warrant 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.


As part of obtaining reasonable assurance about whether the Pasco County, Florida Tax Collector’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on



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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.


The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Pasco County, Florida Tax Collector’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 Pasco County, Florida Tax Collector’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


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Management Letter


We have audited the financial statements of the general fund and the aggregate remaining fund informationof the Pasco County, Florida Tax Collector as of and for the fiscal year ended September 30, 2015, and have issued our report thereon dated May 13, 2016, which contains an emphasis of matter to refer to a basis of accounting required for compliance with state filing requirements, however, our report was not modified for this matter.

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. We have also issued our report dated May 13, 2016 on our consideration of the Pasco County, Florida Tax Collector’s internal control over financial reporting and on our test of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. Disclosures in that report, if any, should be considered in conjunction with this management letter.

Additionally, our audit was conducted in accordance with the provision of Chapter 10.550, Rules of the Auditor General, which govern the conduct of local governmental entity audits performed in the State of Florida, and require that certain items be addressed in this letter.


The Rules of the Auditor General, Section 10.554(1)(i)(1), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings or recommendations made in the preceding annual financial audit.

Other Matters

The Rules of the Auditor General, Section 10.554(1)(i)(2), require that we address in the management letter, if not already addressed in the auditors’ report on internal control over financial reporting and on compliance and other matters, any recommendations to improve the Pasco County, Florida Tax Collector’s financial management. In connection with our audit, we did not have any such recommendations.

The Rules of the Auditor General, Section 10.554(1)(i)(3), require that we address in the management letter any noncompliance with the provisions of contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which



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warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.


The Rules of the Auditor General, Section 10.554(1)(i)(4), require that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. In that regard, the Pasco County, Florida Tax Collector was established by the Constitution of the State of Florida, Article VIII, Section 1(d). The Pasco County, Florida Tax Collector does not have any component units.


This management letter is intended solely for the information of the Pasco County, Florida Tax Collector, management, the Board of County Commissioners of Pasco County, Florida, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties.


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We have examined the Pasco County, Florida Tax Collector’s compliance with Section 218.415, Florida Statutes as of September 30, 2015. Management is responsible for the Pasco County, Florida Tax Collector’s compliance with those requirements. Our responsibility is to express an opinion on the Pasco County, Florida Tax Collector’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Pasco County, Florida Tax Collector’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Pasco County, Florida Tax Collector’s compliance with specified requirements.

In our opinion, the Pasco County, Florida Tax Collector complied, in all material respects, with the aforementioned requirements as of September 30, 2015.


