Highlands County Sheriff's Office 349 8 0.88% *** *** *** the Palms of Sebring 257 9 0.64% *** *** *** Alan Jay Automotive 250 10 0.63% *** *** ***
HIGHLANDS COUNTY FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT FISCAL YEAR ENDED SEPTEMBER 30, 2012
The theme for Highlands County’s 2012 Annual Financial Report is a celebration of 60 years of racing history at the Sebring International Raceway. We hope you enjoy the pictures that are featured throughout this publication and sincerely appreciate the assistance that was provided by the Sebring International Raceway.
The Sebring International Raceway is home to America’s oldest and most prestigious road racing track. Located adjacent to the Sebring Regional Airport and Commerce Park and nestled among orange groves and cattle ranches, the raceway is the oldest permanent road racing track in North America. The legendary 3.74-mile circuit evolved from Hendricks Field, a World War II airbase.
Sebring’s racing heritage was born on Dec. 31, 1950, when aviation and racing enthusiast Alec Ulmann promoted a six-hour race on the airbase. The race, known as the Sam Collier 6 Hour Memorial race, was the first sports car endurance race held in the United States. On March 15, 1952, the first 12 Hours of Sebring was held, beginning one of the greatest traditions in motorsports. The following year, Sebring became part of the sports car world championship, and under the supervision of Alec Ulmann the race became second only to Le Mans in international prestige.
Legendary drivers such as Dan Gurney, Mario Andretti, A.J. Foyt, Phil Hill and Stirling Moss have won at Sebring. Porsche, Ferrari, Ford, Nissan and Audi are among the manufacturers that have won the tough once-around-the-clock classic.
Sebring is also famous for celebrity participation. Steve McQueen nearly won the race back in 1970, while Dick Smothers, James Brolin, Gene Hackman and even Walter Cronkite competed in the race.
HIGHLANDS COUNTY, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED SEPTEMBER 30, 2012
PREPARED BY THE OFFICE OF ROBERT W. GERMAINE CLERK OF COURTS
TASHA L. MORGAN PATTI W. HOWERTON DIRECTOR OF ACCOUNTING ACCOUNTING MANAGER
HIGHLANDS COUNTY, FLORIDA TABLE OF CONTENTS YEAR ENDED SEPTEMBER 30, 2012
INTRODUCTORY SECTION Principal Officials 1 Letter of Transmittal 2 Certificate of Achievement for Excellence in Financial Reporting 7 Organizational Chart 8 FINANCIAL SECTION Independent Auditors’ Report 9 Management’s Discussion and Analysis 11 Basic Financial Statements Government-Wide Financial Statements: Statement of Net Assets 25 Statement of Activities 26 Fund Financial Statements: Balance Sheet – Governmental Funds 28 Reconciliation of Fund Balances for Governmental Funds to Net Assets of Governmental Activities – Governmental Funds 29 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds 30 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 31 Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – General Fund 32 Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – County Transportation Trust Fund 33 Statement of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – Local Government Infrastructure Surtax Fund 34 Statement of Net Assets – Proprietary Funds 36 Statement of Revenues, Expenses and Changes in Fund Net Assets – Proprietary Funds 38 Statement of Cash Flows – Proprietary Funds 39 Statement of Fiduciary Net Assets – Agency Funds 41 Notes to the Financial Statements 42
i HIGHLANDS COUNTY, FLORIDA TABLE OF CONTENTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
FINANCIAL SECTION (CONTINUED) Required Supplementary Information Modified Approach for Infrastructure Assets 88 Postemployment Benefits Other than Pension 89 Combining and Individual Fund Statements and Schedules Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual – General Fund 90 Nonmajor Governmental Funds Descriptions 93 Combining Balance Sheet – Nonmajor Governmental Funds 99 Combining Statement of Revenues, Expenditures and Changes in Fund Balances – Nonmajor Governmental Funds 113 Budgetary Comparison Schedules: Lake Placid Sun-N-Lake Estates Fire District Fund 127 DeSoto City Special Benefit Fire District Fund 128 Orange Villa Special Benefit District Fund 129 Hickory Hills Special Benefit District Fund 130 Placid Lakes Special Benefit District Fund 131 Sebring Country Estates Special Benefit District Fund 132 Istokpoga Marsh Watershed Improvement District Fund 133 Avon Park Estates Special Benefit District Fund 134 Highlands Lakes Special Tax District Fund 135 Highlands Park Special Benefit Fire District Fund 136 Highlands Park Estates Improvement Trust Fund 137 Leisure Lakes Special Benefit Fire District Fund 138 Sebring Hills Special Benefit District Fund 139 Red Hill Farms Improvement District Fund 140 E911 Emergency Operations Fund 141 Hospital District Fund 142 Orange Blossom Estates Special Benefit District Fund 143 Sun-N-Lake Lake Placid Recreation District Fund 144 Conservation Trust Fund 145 Intergovernmental Radio Communications Fund 146 Sebring Acres Special Benefit District Fund 147 Orange Blossom (Unit 12) Special Benefit District Fund 148
ii HIGHLANDS COUNTY, FLORIDA TABLE OF CONTENTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
FINANCIAL SECTION (CONTINUED) Combining and Individual Fund Statements and Schedules (Continued) Budgetary Comparison Schedules (Continued): Lake Haven Estates Special Benefit District Fund 149 Lorida Special Benefit Fire District Fund 150 Lake Placid Special Benefit Fire District Fund 151 Law Enforcement Education Fund 152 Building Code Enforcement 153 Florida Boating Improvement Fund 154 Special Law Enforcement Trust Fund 155 Highway Park Special Benefit District Fund 156 Community Development Block Grant Fund 157 Affordable Housing Assistance Trust Fund 158 Sun n Lake 1-20 Improvement Trust 159 Highlands Park Estates Special Benefit District Fund 160 Development Transportation Improvement Fund 161 West Sebring Special Benefit Fire District Fund 162 Driver Education Safety Trust Fund 163 Tourist Development Trust Fund 164 Domestic Violence Training Fund 165 Fire Inspection and Safety Fund 166 Venus Special Benefit Fire District Fund 167 Sebring Parkway Maintenance Fund 168 State Court Facilities Trust Fund 169 Innovations and Supplemental Courts Funding Trust Fund 170 Crime Prevention Fund 171 Court Tech 28.24(12)(E)1 Fund 172 Hurricane Housing Trust Fund 173 Home Initiatives Partnership Fund 174 Placid Lakes Fire District Fund 175 Court Services Fund (120) 176 Court Services Fund (121) 177
iii HIGHLANDS COUNTY, FLORIDA TABLE OF CONTENTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
FINANCIAL SECTION (CONTINUED) Combining and Individual Fund Statements and Schedules (Continued) Budgetary Comparison Schedules (Continued): Affordable and Workforce Trust 178 Impact Fee – Transportation – Avon Park 179 Impact Fee – Transportation – Lake Placid 180 Impact Fee – Transportation – Sebring 181 Impact Fee – Parks and Recreation – Avon Park 182 Impact Fee – Parks and Recreation – Lake Placid 183 Impact Fee – Parks and Recreation – Sebring 184 Impact Fee – Correctional Facilities 185 Impact Fee – Fire 186 Impact Fee – Libraries 187 Impact Fee – Law Enforcement 188 Impact Fee – Emergency Medical Services 189 Thunderbird Hill Waste Water 190 HCISSRB Construction 191 Nonmajor Enterprise Funds Descriptions 192 Combining Statement of Net Assets – Nonmajor Enterprise Funds 193 Combining Statement of Revenues, Expenses and Changes in Fund Net Assets – Nonmajor Enterprise Funds 194 Combining Statement of Cash Flows – Nonmajor Enterprise Funds 195 Internal Service Funds Descriptions 197 Combining Statement of Net Assets – Internal Service Funds 198 Combining Statement of Revenues, Expenses and Changes in Net Assets – Internal Service Funds 199 Combining Statement of Cash Flows – Internal Service Funds 200 Trust and Agency Funds Descriptions 202 Combining Statement of Fiduciary Net Assets – Agency Funds 204 Schedule of Changes in Assets and Liabilities – Agency Funds 206
iv HIGHLANDS COUNTY, FLORIDA TABLE OF CONTENTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
STATISTICAL SECTION Statistical Section 211 Net Assets by Components 212 Changes in Net Assets 213 Fund Balances, Governmental Funds 217 Change in Fund Balances, Governmental Funds 218 Taxable Value and Actual Value of Property 220 Direct and Overlapping Property Tax Rates 221 Principal Property Tax Payers 222 Property Tax Levies and Collections 223 Ratios of Outstanding Debt by Type 224 Ratios of General Bonded Debt Outstanding 226 Overlapping Governmental Activities Debt 227 Pledged-Revenue Coverage 228 Demographic and Economic Statistics 229 Principal Employers 230 Full-Time Equivalent County Government Employees by Function 231 Operating Indicators by Function 232 Capital Assets Statistics by Function 235 COMPLIANCE SECTION Schedule of Expenditures of Federal Awards and State Financial Assistance 236 Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance 240 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 241 Independent Auditors’ Report on Compliance with Requirements That Could Have a Direct and Material Effect on Each Major Federal Program and State Project and on Internal Control Over Compliance in Accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General 243 Schedule of Findings and Questioned Costs – Federal Programs and State Projects 245 Summary Schedule of Prior Audit Findings 248
v INTRODUCTORY SECTION
INTRODUCTORY SECTION
HIGHLANDS COUNTY, FLORIDA PRINCIPAL OFFICIALS YEAR ENDED SEPTEMBER 30, 2012
BOARD OF COUNTY COMMISSIONERS Jack L. Richie, Chairperson (District 4) Barbara Stewart Don Elwell (District 1) (District 2)
William Ron Handley R. Greg Harris (District 3) (District 5)
INTERIM COUNTY ADMINISTRATOR June Fisher
CLERK OF COURTS and CHIEF FINANCIAL OFFICER Robert W. Germaine
TAX COLLECTOR PROPERTY APPRAISER Eric T. Zwayer C. Raymond McIntyre
SHERIFF SUPERVISOR OF ELECTIONS Susan Benton Joe Campbell
COUNTY ATTORNEY J. Ross MacBeth
SENIOR DIRECTOR BUSINESS SERVICES Jerome Kaszubowski DIRECTOR OF ACCOUNTING ACCOUNTING MANAGER Tasha L. Morgan Patti W. Howerton INDEPENDENT AUDITORS CliftonLarsonAllen LLP
(1)
ROBERT W. GERMAINE CLERK OF COURTS – HIGHLANDS COUNTY, FLORIDA OFFICE LOCATION: 430 SOUTH COMMERCE AVENUE THE COURTHOUSE PLEASE REPLY TO:
590 SOUTH COMMERCE AVENUE CLERK OF CIRCUIT COURT SEBRING, FLORIDA 33870-3867 CLERK OF COUNTY COURT PHONE (863) 402-6564 COUNTY AUDITOR SUNCOM 742-6564 COUNTY RECORDER FAX (863) 402-6768 CLERK TO THE BOARD OF COUNTY COMMISSIONERS
March 1, 2013
To the Citizens of Highlands County, Florida:
I am pleased to present to you, the citizens of Highlands County, the Comprehensive Annual Financial Report (CAFR) of Highlands County, Florida (County), for the fiscal year ended September 30, 2012.
This report was prepared in accordance with generally accepted accounting principles by the Clerk of Courts’ Accounting Division. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Clerk of Courts as Chief Financial Officer of Highlands County.
We believe the data, as presented, is accurate in all material respects and is presented in a manner designed to fairly set forth the financial position and results of operations of the County, as measured by the financial activity of its various funds. In addition, all disclosures necessary to enable the reader to gain a thorough understanding of the County’s financial affairs have been included.
REPORT FORMAT
This report is intended to provide informative and relevant financial information for the citizens of the County, Board Members, investors, creditors and other concerned readers. This CAFR is a countywide report, which discloses the combined results of operations for the Board of County Commissioners, Clerk of Courts, Property Appraiser, Tax Collector, Sheriff, Supervisor of Elections, and all component units. This report includes all funds and account groups of governmental operations where the Board of County Commissioners is financially accountable, the exclusion of which would render the financial statements misleading or incomplete. The County provides a full range of services and this report includes all activities of the County.
The Highlands County District School Board, the Highlands County Hospital District, the South Florida Water Management District, and the Southwest Florida Water Management District have not met the established criteria for inclusion in the reporting entity and, accordingly, are excluded from this report. The Industrial Development Authority is included as a discretely presented component unit.
(2)
In accordance with generally accepted accounting principles (GAAP), this CAFR includes a narrative introduction from management, in the form of Management’s Discussion and Analysis (MD&A), which provides an overview and analysis to accompany the basic financial statements. This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The County’s MD&A can be found immediately following the report of the independent auditors. The remainder of this letter provides an overview of the local economy and a report on some of the County’s current and future initiatives.
County Profile
Highlands County is a non-charter county established under the Constitution and laws of the State of Florida. Established on April 23, 1921 from a segment of Desoto County, Highlands County is Florida’s 56th county. The County is located in the south central part of Florida and is within close proximity to all major attractions and ports. Over 85% of the state’s population is within a 150 mile radius of the County. The County encompasses 1,029 square miles of the state’s heartland and 78 square miles of water. The resident population served exceeded 98,000, which includes the unincorporated County and three municipalities - the cities of Avon Park, Sebring and Lake Placid. According to the Office of Economic and Demographic Research, Highlands County is Florida’s 34th most populous county.
The County operates under a commission form of government. The citizens of the County elect a five member Board of County Commission to serve as the legislative body for the County. The County Commissioners appoint a County Administrator who is responsible for the operation of all County departments. The citizens of the county also elect a Clerk of Courts, Property Appraiser, Tax Collector, Sheriff, and Supervisor of Elections.
The Board of County Commissioners, as the legislative body, budgets and provides the funding used by the County departments and the separate Constitutional Officers, with the exception of fees collected by the Clerk of Courts, Property Appraiser and Tax Collector. Under the direction of the Clerk of Courts, the Clerk’s Business Services Divisions maintain the accounting system for the Board of County Commissioners’ operations. The Clerk of Courts, Property Appraiser, Tax Collector, Sheriff, and Supervisor of Elections each maintain a separate accounting system; however, the operations of each agency have been combined for presentation in this report.
Economic Condition
Citrus, cattle and dairy operations provide the primary source of economic activity within the County. During the 2011-2012 crop year, Highlands County ranked 2nd in the State for citrus production with an estimated 23.7 million boxes of citrus produced and 1st in the State for the production of Valencia oranges. Nationally, the County is ranked 10th in the production of beef cattle which accounts for the greatest land use, estimated at 60%. According to the Florida Department of Agriculture, there are over 72,000 head of beef cattle and 121,000 total cattle grazing annually on over 425,000 acres. Tourism also plays a vital role in the local economy.
Highlands County is known for the annual 12 Hours of Sebring endurance race, North America’s longest running and most prestigious road race. The race, which is held annually at the Sebring International Raceway, celebrated 60 years of racing in 2012. Located adjacent to the Sebring Regional Airport and Commerce Park and nestled among orange groves and cattle ranches, it is the oldest permanent road racing track in North America, evolving from a World War II air base. The first 12-hour race was held on March 15, 1952 with approximately 7,000 spectators in attendance. The admission price was $2. The 2012 race marked the 60th running of the 12-hour race, with an estimated 160,000 spectators on hand for the event.
(3)
The collapse of the housing market and the economic downturn that followed had and continues to have a profound impact on the County. The population of the County continues to trend downwards, from a high in 2008 of 100,207. Home sales and new construction remains stagnant and the unemployment rate, although recognizing a decrease locally, remains higher than the national average. Faced with uncertain economic indicators and declining revenue streams, management has been challenged with defining core services and identifying sustainable ways to meet the need of the residents.
Major Initiatives
During the 2011-2012 fiscal year, asset and infrastructure project expenditures were as follows:
Description Amount City of Avon Park Head Field $ 8,822 Consolidated Dispatch 2,722 EDP Equipment 68,309 Emergency Operations Center Improvements 8,529 EMS Equipment 122,154 Engineering Equipment 57,420 Extend Fiber Optic Cable 14,539 Improvements to Roads and Streets 3,178,158 Kenilworth Building 2,684 Lake Charlotte Canal Crossing 5,480 Max Long Complex Renovations 54,532 Memorial Drive and College Drive Multi-Use Path 932,128 Refurbish Road & Bridge Unit 1 Office 11,703 Road & Bridge Equipment 429,288 Shell Pit Mitigation 84,102 Sheriff's Office Renovations 91,536 Sports Complex Lighting 129,618 Toni Drive Mining Permit 52,815 Town of Lake Placid Miracle League Baseball Field 13,199 Veterans' Services Building 45,230 Waterway Signage 72,803 Total $ 5,385,771
The major initiatives have been funded through a one-cent local option sales surtax for the purpose of financing, planning, and constructing infrastructure. The surtax was approved on August 22, 1989, and on July 20, 1999, the electorate of Highlands County approved extending this tax an additional fifteen years.
Major Accomplishments 2011-2012
Highway Lighting Project – This project consisted of instilling lighting fixtures at the following four locations: State Road 66 at County Road 635, U.S. 27 at Sebring Lakes Blvd, U.S. 27 at County Road 621, and U.S. 27 at County Road 29. The project was funded by the Florida Department of Transportation.
Waterway Marker Replacement – This project consisted of replacing approximately 100 water markers in County lakes and canals to meet Florida Fish and Wildlife Commission standards. The new signage was fabricated by the County Traffic Operations Department.
Sparrow and U.S. 27 Intersection Improvements – This project consisted of additional turn lanes, traffic circulation improvements, and drainage improvements. The project was funded by the (4)
County’s Transportation Operational and Safety Improvement Program (TOSIP). Construction was complete within 30 days.
Utilities Transfer – On June 1, 2012 the water and sewer utilities were successfully transferred to the Town of Lake Placid.
Major Projects Scheduled for the Future
Public Safety Radio System Upgrade – In October 2012 the Board approved a Communication Services Agreement and Equipment Lease/Purchase Agreement with Motorola providing for a complete upgrade to the County’s Public Safety Radio System. The project, which is expected to be substantially completed by the end of fiscal year 2013, will replace the existing radio system with an 800 MHZ P25 radio platform.
College Drive / Memorial Drive Multi Use Path Project – This project consists of constructing a four (4) mile multi-use path along the College Drive and Memorial Drive right-of-ways. Construction is expected to be substantially completed by end of October 2012. Per the executed Local Agency Program agreement, the Florida Department of Transportation will reimburse the County for all expenses.
Fiber Optic Extension Project – In February 2012 the Board approved the extension of fiber optic lines from Kenilworth Boulevard to U.S. Highway 27 and from U.S. Highway 27 to George Boulevard South, terminating at the Emergency Operations Center. This project is currently in the preliminary design phase.
Old State Road 8 / Toni Drive Reconstruction Project - In May 2012 the Board approved an agreement for the restoration of wetlands on five (5) County-owned properties located in Venus. County staff have completed earthwork necessary for wetland creation and are working with Archbold Biological Station to coordinate the mitigation phase of the project.
Financial Information
The County operates on a fiscal year of October 1st to September 30th. The fiscal year 2011-2012 budget was adopted with a millage rate of 7.10, which was consistent with the millage rate for fiscal year 2010-2011 and approximately 0.54 mils less than the allowable rollback rate.
Formal budgetary integration is employed as a management control device for the General and Special Revenue Funds. Budgets for these funds are legally adopted on an annual basis consistent with generally accepted accounting principles (GAAP). The level of budgetary control exists with the Board of County Commissioners, and the Board follows the laws of Florida regarding the control, adoption, and amendment of the budget during each fiscal year. Open encumbrances are reported as assigned fund balance at year-end and reappropriated the following year. Unencumbered appropriations lapse at fiscal year-end.
The Clerk of Courts, through the Clerk’s Business Services Division, and County Management are responsible for establishing and maintaining internal controls to provide reasonable, but not absolute, assurance regarding the safeguarding of assets against loss from unauthorized use or disposition and the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance recognizes that the cost of control should not exceed the benefits likely to be derived, and the evaluation of costs and benefits requires estimates and judgments by management.
(5)
All internal control evaluations occur within the above framework. We believe the County’s internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. Independent Audit. Section 218.39, Florida Statutes, requires that an annual financial audit of the accounts and records of the County be performed by an independent certified public accounting firm. This requirement has been met for the fiscal year ended September 30, 2012 and the opinions of the independent auditors are included in the Financial Section of this report.
In addition to meeting the requirements set forth in the state statutes, the audit also was designed to meet the requirements of Government Auditing Standards, the Single Audit Act Amendments of 1996, related OMB Circular A-133, and Rules of the Auditor General, Chapter 10.550. The auditor’s reports pertaining to the single audit are included in the Single Audit Section of this report.
Single Audit. The County is a recipient of federal and state financial assistance, making it mandatory that proper internal controls are in place to ensure that compliance with applicable laws and regulations related to those programs are met. This internal control structure is audited each year by our independent auditors.
Awards. The Government Finance Officers Association (GFOA) of the United States and Canada awarded a Certificate of Achievement for Excellence in Financial Reporting to Highlands County for its CAFR for the fiscal year ended September 30, 2011. This was the 28th year that the County has received this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized Comprehensive Annual Financial Report. This report satisfied both generally accepted accounting principles and applicable legal requirements.
The Certificate of Achievement is valid for a period of one year only. We believe that our current CAFR continues to meet the Certificate of Achievement Program requirements and we will submit it to the GFOA to determine its eligibility for another certificate.
Acknowledgments. The preparation of the CAFR could not have been accomplished without the efforts and dedication of the entire staff of the Highlands County Clerk of Courts Business Services Divisions.
I, and my staff, would like to thank CliftonLarsonAllen, LLP, the County Administrator and her staff, and the entire Board of County Commissioners for their help and support in the preparation of this report for the citizens of Highlands County.
Respectfully submitted,
Robert W. Germaine Jerome Kaszubowski, CCIO Tasha Morgan, MBA, CPA, CIA Clerk of Courts Sr. Director of Business Services Director of Accounting
(6)
(7) HIGHLANDS COUNTY, FLORIDA ORGANIZATIONAL CHART YEAR ENDED SEPTEMBER 30, 2012
(8) FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT
Board of County Commissioners Highlands County, Florida
We have audited the accompanying 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 Highlands County, Florida (County), as of and for the fiscal year ended September 30, 2012, which collectively comprise the County’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of the County's management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the County’s discretely presented component unit. Those financial statements were audited by other auditors whose reports thereon have been furnished to us. Our opinion, insofar as it relates to data included for the discretely presented component unit, is based solely on the reports of the other auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the report of the other auditors provide a reasonable basis for our opinions.
In our opinion, based on our audit and the report of the other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of Highlands County, Florida, at September 30, 2012 and the respective changes in financial position and cash flows, where applicable, thereof and the budgetary comparison for the general fund and major special revenue funds for the fiscal year then ended in conformity with accounting principles generally accepted in the United States of America.
In accordance with Governmental Auditing Standards, we have also issued a report dated March 1, 2013, on our consideration of the County's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.
An independent member of Nexia International (9) Board of County Commissioners Highlands County, Florida
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis on pages 11 through 24, information on infrastructure using the modified approach on page 88 and information on other postemployment benefits on page 89 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 inquires 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.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County’s basic financial statements. The combining and individual financial statements and schedules are presented for purposes of additional analysis and are not a required part of the financial statements. The schedule of expenditures of federal awards and state financial assistance is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations and Chapter 10.550, Rules of the Auditor General, and is also not a required part of the financial statements. The combining and individual financial statements and schedules and the schedule of expenditures of federal awards and state financial assistance are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.
Our audit was conducted for the purpose of forming opinions on the financial statement that collectively comprise the County’s basic financial statements. The introductory and statistical sections are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.
CliftonLarsonAllen LLP
Sebring, Florida March 1, 2013
(10) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
The management of Highlands County (County) offers this narrative overview and analysis of the financial activities of the County for the fiscal year ended September 30, 2012. We encourage readers to consider the information presented here in conjunction with the additional information that we have furnished in our Letter of Transmittal.
FINANCIAL HIGHLIGHTS
The following are key financial highlights for the fiscal year:
. The County’s assets exceeded its liabilities at September 30, 2012 by $260.1 million (net assets). Of this amount, $196.0 million was invested in capital assets, net of related debt, and $44.0 was restricted by laws, grant agreements, debt covenants, or for capital projects. As a result, $20.1 million (unrestricted net assets) may be used to meet the government’s ongoing obligations to citizens and creditors. . The County’s total net assets decreased by ($0.8) million, of which $1.9 million was an increase from governmental activities and ($2.7) million was a decrease from business-type activities. . As of September 30, 2012, the County General Fund’s fund balance was $21.6 million which represents an increase of $0.1 million from the previous year. The County’s governmental funds, in total, reported combined ending fund balances of $64.0 million, an increase of $3.6 million from the prior year. Of this amount, $19.7 million is available for use at the County's discretion (unassigned fund balance). . At September 30, 2012, the unassigned fund balance for the General Fund was $19.8 million or 36% of total general fund expenditures. . The County’s total liabilities decreased by $1.5 million or 4% during the fiscal year.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the County's basic financial statements. The County's basic financial statements comprise three components: government-wide financial statements, fund financial statements, and notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
Government-Wide Financial Statements The government-wide financial statements are designed to provide readers with a broad overview of the County’s finances using the accrual basis of accounting in a manner similar to a private-sector business. The statement of net assets presents information on all the County's assets and liabilities with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the County is improving or deteriorating. The statement of activities presents information showing how the County’s net assets changed during the most recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs regardless of the timing of the related cash flows. Thus, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods.
(11) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Government-Wide Financial Statements (Continued) The government-wide financial statements distinguish functions of the County (known as the primary government) that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the County include general government, public safety, physical environment, transportation, economic environment, human services, culture and recreation and court related. The business-type activities of the County include water, wastewater, energy recovery, and solid waste. The government-wide financial statements include not only the County itself, but also legally separate entities for which the County is financially accountable (known as component units) such as the Industrial Development Authority. Financial information for these component units is reported separately from the financial information presented for the primary government itself. The government-wide financial statements can be found on pages 25-27 of this report.
Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The County, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All the funds of the County can be divided into three categories: governmental, proprietary and fiduciary funds.
Governmental Funds - Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government- wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Highlands County maintains 76 individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, the County Transportation Trust Fund, and the Local Government Infrastructure Surtax Fund which are considered to be major funds. Data from the other 73 governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report. The County adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the General Fund and other major special revenue funds to demonstrate compliance with these budgets.
(12) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Proprietary Funds - The County maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The County uses enterprise funds to account for its water, wastewater, solid waste, and energy recovery operations. Internal service funds are an accounting device used to accumulate and allocate costs internally among the County's various functions. The County uses internal service funds to account for its dental insurance and risk retention operations. Because these services benefit governmental and business-type functions, they have been allocated to the governmental activities and business-type activities in the government-wide financial statements. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the proprietary operations, two of which are considered to be major funds of the County. Data from the other two enterprise funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major enterprise funds is provided in the form of combining statements elsewhere in this report.
Fiduciary Funds - Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because resources of those funds are not available to support the County’s own programs. The accounting used for fiduciary funds is much like that used for proprietary funds.
Notes to the Financial Statements - The notes provide additional information that is essential for a full understanding of the data provided in the government-wide and fund financial statements.
Other Information - The combining statements referred to earlier in connection with non-major governmental funds, internal service funds and fiduciary funds are presented immediately following the required supplementary information (RSI).
(13) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net assets may serve over time as a useful indicator of a government’s financial position. In the case of the County, assets exceeded liabilities by $260.1 million as of September 30, 2012.
Highlands County's Net Assets
Governmental Activities Business-Type Activities Total 2011 2012 2011 2012 2011 2012 Current and Other Assets$ 74,597,581 $ 75,976,203 $ 9,758,722 $ 10,128,251 $ 84,356,303 $ 86,104,454 Capital Assets 199,692,532 199,421,281 15,065,497 11,265,464 214,758,029 210,686,745 Total Assets 274,290,113 275,397,484 24,824,219 21,393,715 299,114,332 296,791,199
Long-Term Debt Outstanding 23,269,068 22,330,918 8,836,149 8,167,456 32,105,217 30,498,374 Other Liabilities 5,452,311 5,648,347 643,567 538,530 6,095,878 6,186,877 Total Liabilities 28,721,379 27,979,265 9,479,716 8,705,986 38,201,095 36,685,251
Net Assets: Invested in Capital Assets Net of Related Debt 185,194,317 186,016,954 12,797,355 9,953,870 197,991,672 195,970,824 Restricted 40,780,299 43,995,202 42,759 - 40,823,058 43,995,202 Unrestricted 19,594,118 17,406,063 2,504,389 2,733,859 22,098,507 20,139,922 Total Net Assets$ 245,568,734 $ 247,418,219 $ 15,344,503 $ 12,687,729 $ 260,913,237 $ 260,105,948
The largest portion of the County’s net assets reflects investment in capital assets (e.g. land, buildings, machinery, and equipment) less any related debt used to acquire those assets still outstanding. These capital assets are used to provide services to citizens; consequently, these assets are not available for future spending. It should also be noted that the resources required to repay the related debt must be provided from other sources since the capital assets themselves cannot be used to liquidate these liabilities. An additional portion of the County’s net assets represents resources that are subject to external restrictions such as by debt covenants, grantors, laws or regulations, or are subject to restrictions through enabling legislation on how they may be used. The remaining balance of unrestricted net assets may be used to meet the County's ongoing obligations to citizens and creditors. As such, unrestricted net assets are net assets remaining after removing “net assets invested in capital assets, net of related debt” and “restricted assets” from total net assets. Therefore, the change in the unrestricted net assets of governmental activities from $19.6 million at September 30, 2011 to $17.4 million at September 31, 2012 was due to the net effect of the change in overall net assets from the prior year as adjusted by changes in “net assets invested in capital assets, net of related debt” and “restricted net assets.” Significant changes from the prior year that are responsible for the $2.2 million decrease in unrestricted net assets of governmental activities are described later in the analysis. As of September 30, 2012, the County reports positive balances in all three categories of net assets, both for the government as a whole as well as for its separate governmental and business-type activities.
(14) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Highlands County's Changes in Net Assets
Governmental Activities Business-Type Activities Total 2011 2012 2011 2012 2011 2012 Revenues: Program Revenues: Charges for Services$ 14,982,072 $ 14,679,697 $ 11,370,004 $ 11,637,944 $ 26,352,076 $ 26,317,641 Operating Grants and Contributions 3,793,275 4,798,309 88,974 90,374 3,882,249 4,888,683 Capital Grants and Contributions 593,277 3,164,615 - - 593,277 3,164,615 General Revenues: Property Taxes 34,215,713 32,423,039 - - 34,215,713 32,423,039 Other Taxes 13,237,288 13,184,581 - - 13,237,288 13,184,581 Other 13,704,344 13,587,612 (31,142) 38,339 13,673,202 13,625,951 Total Revenues 80,525,969 81,837,853 11,427,836 11,766,657 91,953,805 93,604,510
Expenses: General Government 16,216,174 15,726,969 - - 16,216,174 15,726,969 Public Safety 37,834,107 36,008,957 - - 37,834,107 36,008,957 Physical Environment 1,839,208 1,391,528 - - 1,839,208 1,391,528 Transportation 12,263,525 13,730,299 - - 12,263,525 13,730,299 Economic Environment 2,908,356 2,571,305 - - 2,908,356 2,571,305 Human Services 2,939,280 3,298,713 - - 2,939,280 3,298,713 Culture and Recreation 3,289,267 2,919,597 - - 3,289,267 2,919,597 Court Related 4,003,682 4,046,362 - - 4,003,682 4,046,362 Interest on Long-Term Debt 443,410 294,638 - - 443,410 294,638 Solid Waste - - 8,226,418 8,304,132 8,226,418 8,304,132 Energy Recovery - - 2,005,691 2,413,568 2,005,691 2,413,568 Highway Park Utility - - 140,108 89,823 140,108 89,823 Water and Sewer - - 499,896 300,578 499,896 300,578 Total Expenses 81,737,009 79,988,368 10,872,113 11,108,101 92,609,122 91,096,469
Change in Net Assets - Before Special Item (1,211,040) 1,849,485 555,723 658,556 (655,317) 2,508,041 Special Item: Loss on Transfer of Assets to Municipality - - - (3,315,330) - (3,315,330) Change in Net Assets (1,211,040) 1,849,485 555,723 (2,656,774) (655,317) (807,289)
Net Assets - Beginning 246,779,774 245,568,734 14,788,780 15,344,503 261,568,554 260,913,237 Net Assets - Ending$ 245,568,734 $ 247,418,219 $ 15,344,503 $ 12,687,729 $ 260,913,237 $ 260,105,948
Governmental and Business-Type Activities Governmental activities increased the County’s net assets by $1.85 million while Business-Type Activities were responsible for a $2.66 million decrease.
Key elements of the governmental activities increase are as follows:
. Charges for Services revenue decreased $302,375 overall for the County from the fiscal year ending 2011 to 2012. The revenue for Transportation and Court Related decreased in FY 11/12. Transportation revenue overall reimbursements from other funds for engineering, paving work on roads and service assessments from the special districts decreased. Court Related revenue increased in traffic related fees but all other court fees decreased with the largest decrease in civil filing fees. Public Safety Charges for services increased overall in FY 11/12 due to commissary sales, ambulance fees and zoning fees. There were decreases in service assessments and emergency operation fees for E911 within the Public Safety Charges.
(15) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Governmental and Business-Type Activities (Continued) . Operating Grants and Contributions increased $1,005,034. The County received additional funding for Public Safety due to FEMA funding for Hurricane Fay and other mitigation projects. The County recorded excess revenue from the Highlands County Hospital District in the amount of $771,000 for health care related grants. The County also received funding of $670,000 for Avon Park Air Force Range for encroachment issues from the State. In addition the County received $260,000 less in funding for housing projects and $440,000 less for environmental projects for Lake Istokpoga. . Capital Grants and Contributions increased $2.57 million. The increase is due mostly for transportation projects for lighting, multiuse path and sidewalks. This accounts for $2.0 million of the increase. In addition, the County received an E911 grant for equipment, generators for shelters, and waterway marks. . Property tax revenues decreased $1.79 million or 5.2%. This is a result of the decrease in property values due to the economic issues and continued depressed housing market. Highlands County has continued to maintain the same millage rate of 7.1 mils and did not increase the millage to the roll back rate. Highlands County had 930 foreclosures in FY 2012. The State Legislature increased the exemption on property tax in 2008 and put statutory limitations on Ad Valorem tax rates. . Sales tax revenues increased by 1.8% or $132,552 due to the slow economic recovery. Fuel tax revenues decreased from prior fiscal year by 2.7% or $130,069 as fuel prices continue to fluctuate with the uncertainty of the economy and the slow economic recovery. . State shared revenues decreased by $522,093. The Half-Cent Sales Tax decreased by $340,000 and the County received less funding from the State due to loss of property tax revenue of $180,000 because of continued depressed property values in Highlands County. . Investment earnings increased by $361,045 overall due to investment mix and short term investments earnings. The slow economic recovery has stabilized investment opportunities and investments in the Florida Government Investment Trust have seen higher returns. . General government expenses decreased by $489,205 due to a variety of small changes. The County reductions in administrative support cost centers due to staff reductions and no new software purchases. The Board of County Commissioners and Administration saw increases in personnel costs. Several Constitutional Officers saw significant decreases due to lower capital purchases and two year cycle on certain required expenditures. Utilities were lower due to energy conservation efforts and prior capital improvements to building and other equipment. . Public safety expenses decreased by $1.83 million. Personnel services decrease mainly due to reductions in retirement costs for higher risk personnel for the Sheriff, Emergency Medical Services and Fire Services. The Sheriff also reduced capital purchases due to reductions in grant funding. Emergency Management expenses increased due to generator purchases for local shelters. . Transportation expenses increased by $1.47 million due to grant funding for lighting projects on US 27, a multiuse path project and other road improvement projects. . Economic environment expenses decreased by $377,051 due to decreases in housing grant expenditures and operational costs for the Housing departments. The Community Redevelopment Agencies (CRA) also had decreases in expenses due to continued decline of overall property values.
(16) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Governmental and Business-Type Activities (Continued) . Human Services expenses increased by $359,433. The increase in expenses was due to the recording of the Hospital District surplus funds. These funds are a pass thru to the County for outside agencies that provide health care services. . Physical environment expenses decreased by $447,680 due to reduced project expenditures in the Natural Resources area such as Lake Istokpoga Canal, and Lake Placid Watershed Management Master. . Interest on long-term debt decreased by $148,772. The County transferred the utilities to a municipality which lowered the long-term debt of the County. The refinancing of the 2002 Bonds also contributed to the lower interest on long-term debt. The County has continued to pay off the long-term debt and with the exception of a capital lease purchase of a fire apparatus; the County has not incurred any additional debt within the fiscal year. Key elements of the business-type activities decrease are as follows:
. Charges for Services revenue increased $267,940 due to the increase sale of asphalt. The sale of recyclable landfill material decreased and there was decreased revenue from the utilities due to the transfer to the municipality. Landfill tipping fees saw a small decrease in revenues. . Operating Grants and Contributions increased $1,400, primarily due to receiving the Small County Solid Waste Grant. . Solid Waste increased expenses $77,714 due to increases in personnel cost over last fiscal year. Administrative expenses are less due to the changes in recycling. The various supplies expense decreased but most other operational cost stayed similar to the prior year. . The Asphalt Plant increased expenses $407,877 due to the increase in road materials and supplies. More repaving was done during the fiscal year and the asphalt plant produced 9,500 tons more than the prior year. Days of operations increased from 82 days in FY 10/11 to 99 days in FY 11/12. The cost of asphalt cement was higher in FY 11/12 than in the prior year increasing the cost per ton in FY 11/12. . Water and sewer expenses decreased $199,318 for Placid Utilities and decreased $50,285 for Highway Park Utilities. The operations were transferred in June of 2012 to the Town of Lake Placid. Operational costs were for only eight (8) months.
In summary, the County’s governmental activities had expenses of $80 million and business-type activities had expenses of $11.1 million. Governmental activities are intended to be primarily funded by taxes as opposed to charges for services and grants; business activities are funded from charges for services. The County experienced a decrease in property tax revenue as a result of the continued decline of the economy. The County closed an internal service fund as well as a trust fund to help with the loss of revenue from property taxes. The County’s business-type activities have also seen a decline in revenues due to the economic conditions, changes in the recycling operations and the transfer of the utilities to a municipality. Overall the County increased its net assets for governmental activities by 0.75% and decreased net assets 17.31% for business activities.
(17) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
As noted earlier, the County uses fund accounting to ensure and demonstrate compliance with finance- related legal requirements.
Governmental Funds The focus of the County’s governmental funds is to provide information on near-term inflows, outflows and balances of spendable resources. Such information is useful in assessing the County's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of its fiscal year. At September 30, 2012, the County's governmental funds reported combined ending fund balances of $64.0 million. Approximately 30.7% or $19.7 million of the combined fund balances constitutes the unassigned fund balance which is available for spending at the government’s discretion. The remainder of the balance is not available for new spending because it has already been committed: (1) to nonspendable of $0.6 million; (2) to restricted funding of $42.6 million; (3) for assigned funding of $1.1 million. The general fund is the chief operating fund of the County.
At September 30, 2012, the unassigned fund balance of the general fund was $19.8 million and the total fund balance was $21.6 million. As a measure of the general fund’s liquidity, the total fund balance represents 40% of total general fund expenditures. The unassigned fund balance increased in the General Fund by $0.1 million. The revenue was increased over normal collections due to the closure of an internal services fund and the closure of the Affordable & Workforce Trust fund. The revenue exceeded the expenditures creating the increase in unassigned fund balance.
As of September 30, 2012, the total fund balance for the Transportation Trust Fund was $7.4 million as compared to $6.5 million as of September 30, 2011. The $0.9 million increase in the total fund balance came from the difference between revenues collected and expenditures. The revenues exceeded projections primarily in the reimbursements for labor. In addition, gas tax revenue was higher than budgeted for the fiscal year. Expenditures for personal services, fuel, asphalt materials and reserves were less than anticipated.
As of September 30, 2012, the total fund balance for the Local Government Infrastructure Surtax Fund was $22.0 million as compared to $20.5 million the prior year. The overall increase in fund balance is due to completion of projects from prior years.
Proprietary Funds The County's proprietary funds provide the same type of information found in the government-wide financial statements but in more detail. Solid Waste operating revenues decreased $18,210 or 0.2% primarily due to the decrease in landfill tipping fee revenue and less revenue from recyclables as compared to the prior year. Unrestricted net assets of the Solid Waste Department were $1.7 million at September 30, 2012, an increase of $402,108 from the prior year. There was also an increase in operating expenses of 1.0% or $79,730 for Solid Waste as compared to the prior year. The overall fund balance for the Solid Waste fund increased by $126,000 due to actual revenues exceeding actual expenditures for the fiscal year.
(18) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Proprietary Funds (Continued) The Energy Recovery Fund has total net assets of $2.3 million, which is an increase of $390,670. Unrestricted net assets are $593,141. This fund accounts for the operation of the County’s Asphalt Plant and was constructed at the landfill site in order to use methane gas produced by the landfill as an energy source for powering the plant. In addition, the amount of materials that can be recycled from the landfill to be used in the making of asphalt will reduce the price of the asphalt and allow the County to pave additional roads and better maintain the road system due to cost savings in producing asphalt. The change in total net assets and unrestricted net assets is the continued set aside of funding for long-term repairs and maintenance, funding for debt retirement and increases in inventory due to the purchase of millings to be used over the next 4 to 5 years in the production of asphalt. The millings were purchase by an inter-fund loan. The unspent funds from the inter-fund loan also contributed to the increase in net assets.
BUDGETARY HIGHLIGHTS
Budget and actual comparison schedules are provided in the Basic Financial Statements for the General Fund and all major special revenue funds. Budget and actual comparison schedules are also provided in the Combining and Individual Fund Statements and Schedules for all non-major funds with annually appropriated budgets. The budget and actual comparison schedules show the original adopted budgets, the final revised budget, actual results, and variance between the final budget and actual results for the general and major special revenue funds. After the original budget is approved, it may be revised for a variety of reasons such as unforeseen circumstances, new bond or loan proceeds, new grant awards, or other unanticipated revenues.
The variances between the original budget and the final amended budget can be summarized as follows:
. Revenues and expenditures were increased by $6.11 million or 5.3% increase over the adopted budget due primarily to an increase in roll-forward encumbrances related to projects and service contracts and additional appropriations for projects funded mostly through grants. . In the General Fund, roll-forward encumbrances included a Lake Istakpoga Canal project, shelving for the library renovation project, an ambulance, air conditioning services, and County attorney. In the Transportation Fund, roll-forward encumbrances included hauling, rentals and leases, repairs and maintenance and road materials & supplies. Other major project roll- forwards were the Sebring Parkway Phase II & III, Memorial/College Drive multipath, Supervisor of Elections Building and several lighting projects. . Some of the additional appropriations in the General Fund were for various Law Enforcement grants and programs. Other funds’ additional appropriations were Memorial/College Dr. Multi- Use Path, Jail Renovations, Sun’ N Lakes Blvd. Sidewalks, Lake Istokpoga Canal, Supervisor of Elections Building, ITS Strategic Plan, APAFR Encroachment Prevention and APAFR Noise Study, and the Highlands Ethanol/SR 70 project.
(19) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
. Differences between the General Fund final amended budget and actual expenditures are briefly summarized as follows:
General Fund Positive Department Variance Reason for Variance County Planning & Appropriations for Central Florida Development Regional Planning Council Noise $257,360 Study projects not spent in the current fiscal year Facilities Appropriations for Personnel Services, Management Repairs, and Operating Supplies not 205,844 spent in current fiscal year Emergency Medical Appropriations for Contractual Services, Services Repairs and Operating Supplies not 313,688 spent in current fiscal year Local Emergency 371,284 Appropriations several projects not Management spent in the current fiscal year Supervisor of 234,941 Appropriations for Supervisor of Elections Elections not expended in the current fiscal year Tax Collector 321,273 Appropriations for the Tax Collector not expended in the current fiscal year Property Appraiser 136,389 Appropriations for Property Appraiser not expended in the current fiscal year Detention Medical 204,229 Appropriations for Detention Medical not expended in the current fiscal year Natural Resource 255,319 Appropriations for several projects not expended in the current fiscal year.
(20) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
. Differences between the other funds final amended budget and actual expenditures are briefly summarized as follows:
Major Fund Positive Department Variance Reason for Variance County Transportation Trust Fund Roads & Bridges $847,115 Appropriations for Personnel Services, rental and leases, and resurfacing supplies not spent in the current fiscal year Local Government Infrastructure Surtax Fund Central Services 658,494 Appropriations for VOIP project and fiber optic extension project not spent in the current fiscal year Supervisor of Elections 629,781 Appropriations for building renovation not spent in the current fiscal year Ambulance Service 485,380 Appropriations for several project not spent in the current fiscal year Road & Bridges 14,567,950 Various projects that were not completed in the current fiscal year Recreation Department 358,642 Appropriations not spent in current fiscal year Nonmajor Governmental Funds Conservation Trust 493,003 Appropriations for OTTED grant project not spent in the current fiscal year Affordable Housing 480,387 Appropriations not spent in current fiscal Assistance Trust year HOME Initiatives 392,142 Appropriations not spent in current fiscal Partnership year
(21) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets The County's investment in capital assets for its governmental and business-type activities as of September 30, 2012 amounted to $210.7 million (net of accumulated depreciation) compared to $214.8 million for the prior year. This investment in capital assets includes land, buildings, improvements, machinery and equipment, parks, roads, highways, bridges, software, and land use rights. Major capital asset events during the fiscal year included the following:
. Transfer of water & sewer utilities to municipality . Memorial/College Drive Multiuse Path . Lighting Projects on US 27 . Sports Complex Lighting . CDBG Generator Project . Lake Istokpoga Canal . Istakpoga March Watershed H20 Storage
Additional information on the County's capital assets can be found in Note 4 to the financial statements.
Highlands County's Capital Assets (Net of Depreciation)
Governmental Business-Type Entity ActivitiesActivities Total 2011 2012 2011 2012 2011 2012 Land$ 41,861,280 $ 41,922,010 $ 1,864,131 $ 1,833,866 $ 43,725,411 $ 43,755,876 Infrastructure 77,478,723 78,299,953 - - 77,478,723 78,299,953 Land Use Rights 1,582,353 1,539,495 - - 1,582,353 1,539,495 Buildings 33,844,794 33,172,832 369,524 312,365 34,214,318 33,485,197 Improvements 7,277,125 7,227,641 8,213,823 5,071,332 15,490,948 12,298,973 Equipment 15,355,770 14,182,427 4,526,755 3,956,637 19,882,525 18,139,064 Computer Software 1,519,508 1,313,484 - - 1,519,508 1,313,484 Construction in Progress 20,772,979 21,763,439 91,264 91,264 20,864,243 21,854,703 Total$ 199,692,532 $ 199,421,281 $ 15,065,497 $ 11,265,464 $ 214,758,029 $ 210,686,745
Long-Term Debt At September 30, 2012, the County had total debt outstanding of $14.5 million compared to $16.8 million in the prior year. Of this amount, all $14.5 million represents loans payable and other obligations. The decrease in total outstanding debt is due to the continued pay downs on the other debt instruments and the capital leases. The Desoto City Fire District purchased, by a capital lease, a new fire apparatus during the fiscal year. The County did not enter into any other debt instruments or capital leases in fiscal year 2012.
Highlands County's Outstanding Debt
Governmental Business-Type Entity Activities Activities Total 2011 2012 2011 2012 2011 2012 Notes Payable, Revenue Certificates and Capital Leases$ 14,498,215 $ 13,180,607 $ 2,268,142 $ 1,311,594 $ 16,766,357 $ 14,492,201
(22) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
Long-Term Debt (Continued) The County continues to meet its financial needs through prudent use of its revenues and creative debt financing programs.
Please refer to Note 7 of the Notes to Financial Statements for a complete presentation of all long term liabilities. The above table does not present information for compensated absences, other post employment benefits or landfill closure liability.
The County’s required Annual Disclosure Statement is available upon request. This disclosure report details and updates certain statistics and financial performance which form the basis for the security of the County’s indebtedness.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES
Local, national and international economic factors influence the County's revenues. The slow economic recovery is correlated with decreased or flat revenues from property taxes, sales taxes, gas taxes, charges for services, as well as state and federal grants. The economic slowdown in the local economy may be measured by a variety of indicators such as unemployment, new construction, assessed valuation, and tax base.
. For the month of December 2012, the unemployment rate for the County was 7.8% which was less than the rate for the State of Florida (7.9%) and higher than the nation (7.6%). . The taxable value of property in Highlands County decreased 3.19% below last year. . Population decrease for last year was 0.13% in the unincorporated area of Highlands County for a total county population of 98,712 residents. All three cities showed population increases over the last year according to the Office of Economic & Demographic Research. . Highlands County has a diversified property tax base. The ten largest property taxpayers in the County still represent only 7.33% of the total ad valorem property tax levy.
All these factors were considered in preparing the County's budget for the 2013 fiscal year. More information on economic factors is provided in the Statistical Section and the transmittal letter.
Infrastructure The County has elected to use the modified approach to account for its bridges and roadways included on the County road and bridge network. Under this approach, the County made the commitment to preserve and maintain these assets at levels established and approved by the Board of County Commissioners. No depreciation expenses are reported for such assets nor are amounts capitalized in connection with improvements that lengthen the life of such assets unless the improvements also increase their service potential. The County maintains an inventory of these assets and performs periodic condition assessments to establish that the predetermined condition level is being maintained. The condition assessments performed during fiscal year 2011-2012 show that the roadway and bridges included on the County road and bridge network are being maintained at or above established County standards. In addition, the County makes annual estimates of the amounts that must be expended to preserve and maintain the roadways and bridges included on the County road and bridge network at the predetermined condition levels. There were no significant differences from the estimated annual amount
(23) HIGHLANDS COUNTY, FLORIDA MANAGEMENT’S DICUSSION AND ANALYSIS SEPTEMBER 30, 2012
to preserve and maintain these assets compared with the actual amounts spent during the current period. For further information on the County’s established condition standards, recent condition assessments or other information on infrastructure reported on the modified approach, refer to the RSI section of this report.
REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the County's finances for all those with an interest in the government’s finances. Questions concerning budgets, long-term financial planning, future debt issuances, or questions related to the management of County operations should be addressed to the County Administrator at:
Office of the County Administrator Highlands County Board of County Commissioners 600 S Commerce Ave Sebring, FL 33870
If you have any questions concerning the Basic Financial Statements or other accounting information in this report, please contact the Clerk of Courts at:
Clerk of Courts Business Services Director 590 S Commerce Avenue Sebring, FL 33870
(24)
BASIC FINANCIAL STATEMENTS
HIGHLANDS COUNTY, FLORIDA STATEMENTS OF NET ASSETS SEPTEMBER 30, 2012
Component Primary Government Unit Industrial Governmental Business-Type Development Activities Activities Total Authority ASSETS Cash and Cash Equivalents $ 40,898,116 $ 8,598,651 $ 49,496,767 $ 168,293 Investments 26,004,477 - 26,004,477 - Accounts Receivable - Net 1,133,833 278,686 1,412,519 15,536 Interest Receivable - 814 814 - Internal Balances (509,523) 509,523 - - Due from Other Governmental Units 7,778,628 312,565 8,091,193 - Inventory 377,415 347,637 725,052 - Prepaid 74,568 - 74,568 - Other Assets 10,000 - 10,000 - Restricted Assets: Cash and Cash Equivalents 208,689 80,375 289,064 - Capital Assets not being Depreciated/Amortized 143,524,897 1,925,130 145,450,027 - Capital Assets - Net of Accumulated Depreciation/Amortization 55,896,384 9,340,334 65,236,718 - Total Assets 275,397,484 21,393,715 296,791,199 183,829
LIABILITIES Vouchers Payable 2,629,012 433,174 3,062,186 12,063 Claims Payable 21,685 - 21,685 - Contracts Payable - Retained Percentage 223,720 - 223,720 - Due to Other Governmental Units 62,795 - 62,795 - Due to Others 59,700 - 59,700 - Accrued Interest Payable 120,024 10,655 130,679 - Accrued Wages Payable 1,216,283 14,327 1,230,610 4,349 Deposits 39,183 80,374 119,557 - Unearned Revenue 1,275,945 - 1,275,945 - Noncurrent Liabilities: Due within One Year 1,994,769 445,789 2,440,558 - Due in More than One Year 20,336,149 7,721,667 28,057,816 5,096 Total Liabilities 27,979,265 8,705,986 36,685,251 21,508
NET ASSETS Invested in Capital Assets, Net of Related Debt 186,016,954 9,953,870 195,970,824 - Restricted for: Special Revenues 43,995,202 - 43,995,202 - Unrestricted 17,406,063 2,733,859 20,139,922 162,321
Total Net Assets $ 247,418,219 $ 12,687,729 $ 260,105,948 $ 162,321
See accompanying Notes to Financial Statements. (25) HIGHLANDS COUNTY, FLORIDA STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2012
Program Revenues
Operating Capital Charges for Grants and Grants and Functions/Programs Expenses Services Contributions Contributions Primary Government: Governmental Activities: General Government $ 15,726,969 $ 2,802,300 $ 230,402 $ - Public Safety 36,008,957 6,766,009 1,091,644 324,557 Physical Environment 1,391,528 248,362 519,960 - Transportation 13,730,299 1,762,758 675,645 2,529,199 Economic Environment 2,571,305 - 1,044,748 195,923 Human Services 3,298,713 107,859 941,722 45,230 Culture and Recreation 2,919,597 230,599 294,188 69,706 Court Related 4,046,362 2,761,810 - - Debt Service: Interest on Long-Term Debt 294,638 - - - Total Governmental Activities 79,988,368 14,679,697 4,798,309 3,164,615 Business-Type Activities: Solid Waste 8,304,132 8,304,716 90,374 - Energy Recovery 2,413,568 2,803,771 - - Highway Park Utility 89,823 92,127 - - Water and Sewer 300,578 437,330 - - Total Business-Type Activities 11,108,101 11,637,944 90,374 - Total Primary Government $ 91,096,469 $ 26,317,641 $ 4,888,683 $ 3,164,615
Component Unit: Industrial Development Authority $ 322,794 $ 1,384 $ 83,164 $ -
General Revenues: Taxes: Property Taxes Fuel Taxes Sales Tax Services Taxes Other Taxes Unrestricted State Shared Revenues Net Change in Fair Value of Investments Gain on Sale of Capital Assets Miscellaneous Payment from Highlands County Special Item: Loss on Transfer of Assets to Municipality Total General Revenues and Special Item Change in Net Assets Net Assets - Beginning Net Assets - Ending
See accompanying Notes to Financial Statements. (26)
Net Revenue (Expense) and Changes in Net Assets Component Primary Government Unit Industrial Governmental Business-Type Development Activities Activities Total Authority
$ (12,694,267) $ - $ (12,694,267) $ - (27,826,747) - (27,826,747) - (623,206) - (623,206) - (8,762,697) - (8,762,697) - (1,330,634) - (1,330,634) - (2,203,902) - (2,203,902) - (2,325,104) - (2,325,104) - (1,284,552) - (1,284,552) -
(294,638) - (294,638) - (57,345,747) - (57,345,747) -
- 90,958 90,958 - - 390,203 390,203 - - 2,304 2,304 - - 136,752 136,752 - - 620,217 620,217 - (57,345,747) 620,217 (56,725,530) -
(238,246)
32,423,039 - 32,423,039 - 4,672,974 - 4,672,974 - 7,413,355 - 7,413,355 - 729,751 - 729,751 - 368,501 - 368,501 - 12,212,916 - 12,212,916 - 731,814 38,339 770,153 435 13,755 - 13,755 - 629,127 - 629,127 - - - - 239,401
- (3,315,330) (3,315,330) - 59,195,232 (3,276,991) 55,918,241 239,836 1,849,485 (2,656,774) (807,289) 1,590 245,568,734 15,344,503 260,913,237 160,731 $ 247,418,219 $ 12,687,729 $ 260,105,948 $ 162,321
(27) HIGHLANDS COUNTY, FLORIDA BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2012
Local County Government Nonmajor Total Transportation Infrastructure Governmental Governmental General Trust Surtax Funds Funds ASSETS Cash and Cash Equivalents $ 10,773,733 $ 4,298,301 $ 7,293,675 $ 12,950,335 $ 35,316,044 Restricted Cash - - - 208,689 208,689 Investments 10,377,015 2,102,010 12,527,847 821,435 25,828,307 Accounts Receivable - Net 1,082,367 3,527 34,883 13,056 1,133,833 Due from Other Funds 128,114 - - 93,318 221,432 Due from Other Governmental Units 1,308,635 1,137,055 4,725,633 607,305 7,778,628 Other Assets 10,000 - - - 10,000 Advances to Other Funds 191,392 - - - 191,392 Prepaid Items 74,568 - - - 74,568 Inventory 377,415 - - - 377,415 Total Assets $ 24,323,239 $ 7,540,893 $ 24,582,038 $ 14,694,138 $ 71,140,308
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable $ 1,362,181 $ 88,444 $ 896,775 $ 268,573 $ 2,615,973 Accrued Wages Payable 1,046,107 87,198 - 82,978 1,216,283 Contracts Payable-Retained Percentage - - 223,720 - 223,720 Customer Deposits 39,183 - - - 39,183 Due to Other Governmental Units 61,059 - - 1,736 62,795 Due to Other Funds 126,153 - - 128,114 254,267 Due to Others - - - 59,700 59,700 Advances from Other Funds - - - 191,392 191,392 Deferred Revenue 124,713 - 1,500,000 833,719 2,458,432 Total Liabilities 2,759,396 175,642 2,620,495 1,566,212 7,121,745
Fund Balances: Nonspendable 643,375 - - - 643,375 Restricted - 7,365,251 21,961,543 13,288,432 42,615,226 Assigned 1,078,004 - - - 1,078,004 Unassigned 19,842,464 - - (160,506) 19,681,958 Total Fund Balances 21,563,843 7,365,251 21,961,543 13,127,926 64,018,563
Total Liabilities and Fund Balances $ 24,323,239 $ 7,540,893 $ 24,582,038 $ 14,694,138 $ 71,140,308
See accompanying Notes to Financial Statements. (28) HIGHLANDS COUNTY, FLORIDA RECONCILIATION OF FUND BALANCES FOR GOVERNMENTAL FUNDS TO NET ASSETS OF GOVERNMENTAL ACTIVITIES GOVERNMENTAL FUNDS SEPTEMBER 30, 2012
Fund balances - total governmental funds $ 64,018,563
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources, and therefore are not reported in the funds. 199,421,281
Deferred revenue is recorded in the funds to offset receivables that do not meet the criteria for revenue recognition in the current period. 1,500,000
Long-term liabilities, including bonds payable, notes payable, capital leases and other post- employment benefits are not due and payable in the current period, and therefore are not reported in the funds. (17,658,213)
Accrued general long-term debt interest expenses are not financial uses, and therefore are not reported in the funds. (120,024)
The assets and liabilities of the internal service funds, used by management to charge the costs of certain activities to individual funds, are included in governmental activities in the statement of net assets. 256,612
Net assets of governmental activities $ 247,418,219
See accompanying Notes to Financial Statements. (29) HIGHLANDS COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS YEAR ENDED SEPTEMBER 30, 2012
Local County Government Nonmajor Total Transportation Infrastructure Governmental Governmental General Trust Surtax Funds Funds REVENUES Taxes $ 33,057,906 $ 4,767,858 $ 7,413,354 $ 305,526 $ 45,544,644 Licenses and Permits 17,179 25,130 - 446,695 489,004 Intergovernmental 12,138,231 2,614,496 3,441,213 4,286,506 22,480,446 Charges for Services 5,832,831 43,875 - 1,452,829 7,329,535 Fines and Forfeitures 100,318 - - 44,367 144,685 Assessments - - - 2,004,101 2,004,101 Net Change in Fair Value of Investments 351,035 55,438 239,238 52,153 697,864 Miscellaneous 1,047,608 1,359,128 271,311 735,579 3,413,626 Total Revenues 52,545,108 8,865,925 11,365,116 9,327,756 82,103,905
EXPENDITURES Current: General Government 14,101,371 - 117,147 210,120 14,428,638 Public Safety 31,284,917 - 285,676 3,119,488 34,690,081 Physical Environment 1,161,481 - 2,025 212,687 1,376,193 Transportation 48,930 7,975,482 7,503,896 333,808 15,862,116 Economic Environment 1,287,810 - 45,230 1,515,384 2,848,424 Human Services 2,832,238 - - 443,525 3,275,763 Culture and Recreation 2,328,694 - 206,171 120,765 2,655,630 Court Related 1,288,344 - - 2,674,758 3,963,102 Debt Service: Principal Retirement 59,629 - 1,405,630 62,349 1,527,608 Interest and Fiscal Charges 819 - 298,654 18,154 317,627 Total Expenditures 54,394,233 7,975,482 9,864,429 8,711,038 80,945,182
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,849,125) 890,443 1,500,687 616,718 1,158,723
OTHER FINANCING SOURCES (USES) Transfers In 2,739,535 10,000 2,456 828,907 3,580,898 Transfers Out (773,805) - (54,378) (516,019) (1,344,202) Proceeds from Issuance of Debt - - - 210,000 210,000 Total Other Financing Sources (Uses) 1,965,730 10,000 (51,922) 522,888 2,446,696
NET CHANGE IN FUND BALANCES 116,605 900,443 1,448,765 1,139,606 3,605,419
Fund Balances, October 1, 2011 21,447,238 6,464,808 20,512,778 11,988,320 60,413,144
FUND BALANCES, SEPTEMBER 30, 2012 $ 21,563,843 $ 7,365,251 $ 21,961,543 $ 13,127,926 $ 64,018,563
See accompanying Notes to Financial Statements. (30) HIGHLANDS COUNTY, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES YEAR ENDED SEPTEMBER 30, 2012
Net change in fund balances - total governmental funds $ 3,605,419
Amounts reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives as depreciation or amortization expense. This is the amount by which net capital outlay exceeded depreciation and amortization in the current period. 247,016
In the statement of activities, only the gain on the sale of capital assets is reported. However, in the governmental funds, the proceeds from the sale increase financial resources. Thus the change in net assets differs from the change in fund balance by the cost of capital assets sold. (518,267)
Long-term liabilities are reported in the statement of net assets but not in the governmental funds because they are not due and payable in the current period. Also, governmental funds report the effect of issuance costs, premiums, discounts and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This amount is the net effect of these differences in the treatment of long-term debt and related items. 1,005,457
Some revenues reported in the statement of activities will not be collected for several months after the fiscal year and, therefore, are not reported as revenue in the governmental funds. (300,000)
Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds. 42,998
Internal service funds are used by management to charge the costs of insurance to individual funds. The net cost of certain activities of internal service funds is reported with governmental activities. (2,233,138)
Change in net assets of governmental activities $ 1,849,485
See accompanying Notes to Financial Statements. (31) HIGHLANDS COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) REVENUES Taxes $ 32,665,958 $ 32,665,958 $ 33,057,906 $ 391,948 Licenses and Permits 18,000 18,000 17,179 (821) Intergovernmental 11,779,759 12,019,361 12,138,231 118,870 Charges for Services 5,187,687 5,288,392 5,832,831 544,439 Fines and Forfeitures 83,500 83,500 100,318 16,818 Net Change in Fair Value of Investments 81,500 111,555 351,035 239,480 Miscellaneous 1,137,000 1,175,540 1,047,608 (127,932) Total Revenues 50,953,404 51,362,306 52,545,108 1,182,802
EXPENDITURES Current: General Government 15,209,485 15,799,159 14,101,371 1,697,788 Public Safety 31,928,968 32,748,020 31,284,917 1,463,103 Physical Environment 1,096,384 1,571,771 1,161,481 410,290 Transportation 48,930 48,930 48,930 - Economic Environment 1,353,139 1,341,483 1,287,810 53,673 Human Services 2,993,685 3,039,615 2,832,238 207,377 Culture and Recreation 2,363,440 2,575,934 2,328,694 247,240 Court Related 1,210,908 1,332,760 1,288,344 44,416 Debt Service: Principal Retirement 59,629 59,629 59,629 - Interest and Fiscal Charges 819 819 819 - Total Expenditures 56,265,387 58,518,120 54,394,233 4,123,887
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (5,311,983) (7,155,814) (1,849,125) 5,306,689
OTHER FINANCING SOURCES (USES) Transfers In 48,060 48,060 2,739,535 2,691,475 Transfers Out (895,238) (844,383) (773,805) 70,578 Total Other Financing Sources (Uses) (847,178) (796,323) 1,965,730 2,762,053
NET CHANGE IN FUND BALANCE (6,159,161) (7,952,137) 116,605 8,068,742
Fund Balance, October 1, 2011 6,159,161 7,952,137 21,447,238 13,495,101
FUND BALANCE, SEPTEMBER 30, 2012 $ - $ - $ 21,563,843 $ 21,563,843
See accompanying Notes to Financial Statements. (32) HIGHLANDS COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL COUNTY TRANSPORTATION TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Taxes $ 4,520,000 $ 4,520,000 $ 4,767,858 $ 247,858 Licenses and Permits 41,000 41,000 25,130 (15,870) Intergovernmental 2,667,050 2,667,050 2,614,496 (52,554) Charges for Services 66,335 66,335 43,875 (22,460) Net Change in Fair Value of Investments - - 55,438 55,438 Miscellaneous 1,137,422 1,157,823 1,359,128 201,305 Total Revenues 8,431,807 8,452,208 8,865,925 413,717
EXPENDITURES Current: Transportation: County Engineer 1,451,807 1,551,626 1,257,587 294,039 Roads and Bridges 4,985,248 5,205,767 4,358,652 847,115 Bridge and Concrete 344,273 346,256 303,451 42,805 Maintenance Shop 673,782 700,569 609,375 91,194 Traffic Operations 846,336 887,339 767,891 119,448 Mowing - Right of Ways 543,586 593,420 505,062 88,358 County Shell Pit 319,549 351,219 172,264 178,955 Multi-Use Paths 108,522 108,522 1,200 107,322 Total Expenditures 9,273,103 9,744,718 7,975,482 1,769,236
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (841,296) (1,292,510) 890,443 2,182,953
OTHER FINANCING SOURCES Transfers In - - 10,000 10,000 Total Other Financing Sources - - 10,000 10,000
NET CHANGE IN FUND BALANCE (841,296) (1,292,510) 900,443 2,192,953
Fund Balance - October 1, 2011 841,296 1,292,510 6,464,808 5,172,298
FUND BALANCE - SEPTEMBER 30, 2012 $ - $ - $ 7,365,251 $ 7,365,251
See accompanying Notes to Financial Statements. (33) HIGHLANDS COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LOCAL GOVERNMENT INFRASTRUCTURE SURTAX FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Taxes $ 6,834,000 $ 6,834,000 $ 7,413,354 $ 579,354 Intergovernmental 2,048,750 4,996,183 3,441,213 (1,554,970) Net Change in Fair Value of Investments 151,500 151,500 239,238 87,738 Miscellaneous 60,000 271,068 271,311 243 Total Revenues 9,094,250 12,252,751 11,365,116 (887,635)
EXPENDITURES Current: General Government: Central Services 484,572 678,554 20,060 658,494 Facilities Management - 148,449 94,403 54,046 Supervisor of Elections 637,260 632,465 2,684 629,781 Total General Government 1,121,832 1,459,468 117,147 1,342,321
Public Safety: County Jail 66,383 109,832 107,298 2,534 Emergency Management 55,000 195,000 8,529 186,471 Communications Program - 63,612 47,695 15,917 Ambulance Service 607,534 607,534 122,154 485,380 Total Public Safety 728,917 975,978 285,676 690,302
Physical Environment: Natural Resources 120,000 120,000 2,025 117,975 Total Physical Environment 120,000 120,000 2,025 117,975
Transportation: Road and Bridges 20,810,647 21,987,744 7,419,794 14,567,950 County Shell Pit 93,658 145,004 84,102 60,902 Sebring Airport Authority 54,349 - - - Avon Park Airport 250,000 - - - Total Transportation 21,208,654 22,132,748 7,503,896 14,628,852
Economic Environment: Veteran's Services 50,982 45,230 45,230 - Total Economic Environment 50,982 45,230 45,230 -
Human Services: Animal Control - 11,947 - 11,947 Total Human Services - 11,947 - 11,947
Culture and Recreation: Recreation Department 724,436 564,813 206,171 358,642 Parks Department 320,995 - - - Total Culture and Recreation 1,045,431 564,813 206,171 358,642
See accompanying Notes to Financial Statements. (34) HIGHLANDS COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LOCAL GOVERNMENT INFRASTRUCTURE SURTAX FUND (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) EXPENDITURES (CONTINUED) Current (Continued): Debt Service: Principal Retirement 1,175,000 1,390,067 1,405,630 (15,563) Interest and Fiscal Charges 280,302 386,230 298,654 87,576 Total Debt Service 1,455,302 1,776,297 1,704,284 72,013
Total Expenditures 25,731,118 27,086,481 9,864,429 17,222,052
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (16,636,868) (14,833,730) 1,500,687 16,334,417
OTHER FINANCING SOURCES (USES) Transfers In - - 2,456 2,456 Transfers Out (72,395) (72,395) (54,378) 18,017 Total Other Financing Sources (Uses) (72,395) (72,395) (51,922) 20,473
NET CHANGE IN FUND BALANCE (16,709,263) (14,906,125) 1,448,765 16,354,890
Fund Balance - October 1, 2011 16,709,263 14,906,125 20,512,778 5,606,653
FUND BALANCE - SEPTEMBER 30, 2012 $ - $ - $ 21,961,543 $ 21,961,543
See accompanying Notes to Financial Statements. (35) HIGHLANDS COUNTY, FLORIDA STATEMENT OF NET ASSETS PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2012
Business-Type Activities - Enterprise Funds Governmental Activities - Nonmajor Internal Solid Energy Enterprise Service Waste Recovery Funds Total Funds ASSETS Current Assets: Cash and Cash Equivalents $ 7,821,021 $ 777,630 $ - $ 8,598,651 $ 5,582,072 Investments - - - - 176,170 Accounts Receivable - Net 278,686 - - 278,686 - Interest Receivable 814 - - 814 - Due from Other Funds 32,835 - - 32,835 - Due from Other Governmental Units 2,751 309,814 - 312,565 - Inventory - 347,637 - 347,637 -
Total Current Assets 8,136,107 1,435,081 - 9,571,188 5,758,242
Noncurrent Assets: Restricted Cash and Cash Equivalents 80,375 - - 80,375 - Advances to Other Funds 829,579 - - 829,579 -
Total Restricted Assets 909,954 - - 909,954 -
Capital Assets: (Net of $9,133,447 Accumulated Depreciation) 8,376,376 2,889,088 - 11,265,464 -
Total Noncurrent Assets 9,286,330 2,889,088 - 12,175,418 -
Total Assets $ 17,422,437 $ 4,324,169 $ - $ 21,746,606 $ 5,758,242
See accompanying Notes to Financial Statements. (36) HIGHLANDS COUNTY, FLORIDA STATEMENT OF NET ASSETS (CONTINUED) PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2012
Business-Type Activities - Enterprise Funds Governmental Activities - Nonmajor Internal Solid Energy Enterprise Service Waste Recovery Funds Total Funds LIABILITIES Current Liabilities: Vouchers Payable $ 428,936 $ 4,238 $ - $ 433,174 $ 13,039 Accrued Interest Payable 2,532 8,123 - 10,655 - Accrued Wages Payable 14,327 - - 14,327 - Deferred Revenue - - - - 317,513 Compensated Absences - Current Portion 9,802 - - 9,802 - Note Payable and Capital Leases - Current Portion 168,174 198,078 - 366,252 - Landfill Closure Liability - Current Portion 69,735 - - 69,735 - Claims Payable - - - - 21,685
Total Current Liabilities 693,506 210,439 - 903,945 352,237
Long-Term Liabilities: Payable from Restricted Assets - Customer Deposits 80,374 - - 80,374 - Compensated Absences Payable 88,216 - - 88,216 4,672,705 Advances from Other Funds - 829,579 - 829,579 - Notes Payable and Capital Leases - 945,342 - 945,342 - Other Post-Employment Benefits 126,529 - - 126,529 - Landfill Closure Liability 6,561,580 - - 6,561,580 -
Total Long-Term Liabilities 6,856,699 1,774,921 - 8,631,620 4,672,705
Total Liabilities 7,550,205 1,985,360 - 9,535,565 5,024,942
Net Assets: Invested in Capital Assets, Net of Related Debt 8,208,202 1,745,668 - 9,953,870 - Unrestricted 1,664,030 593,141 - 2,257,171 733,300
Total Net Assets $ 9,872,232 $ 2,338,809 $ - 12,211,041 $ 733,300
Adjustment to Reflect Consolidation of Internal Service Fund Activities Related to Enterprise Funds 476,688 Net Assets of Business-Type Activities $ 12,687,729
See accompanying Notes to Financial Statements. (37) HIGHLANDS COUNTY, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2012
Business-Type Activities - Enterprise Funds Governmental Activities - Nonmajor Internal Solid Energy Enterprise Service Waste Recovery Funds Total Funds OPERATING REVENUES Charges for Services $ 3,382,966 $ 2,803,771 $ 498,442 $ 6,685,179 $ - Special Assessments 4,467,859 - - 4,467,859 - Sale of Recyclable Materials 274,025 - - 274,025 - Miscellaneous 179,866 - 19,765 199,631 2,265,356 Total Operating Revenues 8,304,716 2,803,771 518,207 11,626,694 2,265,356
OPERATING EXPENSES Personal Services 1,209,043 - 77,201 1,286,244 - General and Administrative 6,381,919 2,233,168 196,187 8,811,274 853,029 Insurance and Claims - - - - 1,441,877 Depreciation 686,273 120,303 99,606 906,182 - Total Operating Expenses 8,277,235 2,353,471 372,994 11,003,700 2,294,906
Operating Income (Loss) 27,481 450,300 145,213 622,994 (29,550)
NONOPERATING REVENUES (EXPENSES) Operating Grants 90,374 - - 90,374 - Net Change in Fair Value of Investments 35,985 658 1,696 38,339 33,948 Water Impact Fees - - 11,250 11,250 - Interest Expense (14,463) (60,288) (8,431) (83,182) - Loss on Disposal of Capital Assets (13,083) - (8,976) (22,059) - Total Nonoperating Revenues (Expenses), Net 98,813 (59,630) (4,461) 34,722 33,948
INCOME BEFORE SPECIAL ITEMS AND TRANSFERS 126,294 390,670 140,752 657,716 4,398
Special Item: Loss on Transfer of Assets to Municipality - - (3,315,330) (3,315,330) -
Operating Transfers: Transfer Out - - - - (2,236,696)
Change In Net Assets 126,294 390,670 (3,174,578) (2,657,614) (2,232,298)
Net Assets, October 1, 2011 9,745,938 1,948,139 3,174,578 2,965,598
Total Net Assets, September 30, 2012 $ 9,872,232 $ 2,338,809 $ - $ 733,300
Adjustment to Reflect Consolidation of Internal Service Fund Activities Related to Enterprise Funds 840 Change in Net Assets of Business-Type Activities $ (2,656,774)
See accompanying Notes to Financial Statements. (38) HIGHLANDS COUNTY, FLORIDA STATEMENTS OF CASH FLOWS PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2012
Business-Type Activities - Enterprise Funds Governmental Activities - Nonmajor Internal Solid Energy Enterprise Service Waste Recovery Funds Total Funds
CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Customers$ 8,072,361 $ 2,493,957 $ 529,058 $ 11,095,376 $ 2,594,637 Cash Payments for Personal Services (1,179,808) - (123,555) (1,303,363) - Cash Payments to Vendors (6,074,283) (2,504,569) (244,268) (8,823,120) (1,469,460) Cash Payments to Employees for Services - - - - (770,913) Customer Deposits (459) - (73,969) (74,428) - Other Miscellaneous Cash Received 274,025 - - 274,025 - Net Cash Provided (Used) by Operating Activities 1,091,836 (10,612) 87,266 1,168,490 354,264
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Impact Fees Received - - 11,250 11,250 - Grant Funds Received 159,886 - - 159,886 - Advances from (to) Other Funds (499,988) 499,988 - - - Transfers from (to) Other Funds (3,172) - - (3,172) (2,236,696) Net Cash Provided (Used) by Noncapital Financing Activities (343,274) 499,988 11,250 167,964 (2,236,696)
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proceeds from the Sale of Capital Assets 13,517 - - 13,517 - Acquisition of Capital Assets (25,697) - - (25,697) - Principal Payments on Borrowings (411,362) (189,616) (355,570) (956,548) - Interest Payments on Borrowings (19,371) (61,646) (13,222) (94,239) - Net Cash Used by Capital and Related Financing Activities (442,913) (251,262) (368,792) (1,062,967) -
CASH FLOWS FROM INVESTING ACTIVITIES Loss on Transfer of Assets and Liabilities to Other Government - - (431,358) (431,358) - Sale of Investments - - - - 13,825 Net Investment Income 36,131 658 1,696 38,485 17,507 Net Cash Provided (Used) by Investing Activities 36,131 658 (429,662) (392,873) 31,332
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 341,780 238,772 (699,938) (119,386) (1,851,100)
Cash and Cash Equivalents - October 1, 2011 7,559,616 538,858 699,938 8,798,412 7,433,172
CASH AND CASH EQUIVALENTS - SEPTEMBER 30, 2012 $ 7,901,396 $ 777,630 $ - $ 8,679,026 $ 5,582,072
See accompanying Notes to Financial Statements. (39) HIGHLANDS COUNTY, FLORIDA STATEMENTS OF CASH FLOWS (CONTINUED) PROPRIETARY FUNDS YEAR ENDED SEPTEMBER 30, 2012
Business-Type Activities - Enterprise Funds Governmental Activities - Nonmajor Internal Solid Energy Enterprise Service Waste Recovery Funds Total Funds
RECONCILIATION OF NET OPERATING INCOME (LOSS) TO NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES Operating Income (Loss)$ 27,481 $ 450,300 $ 145,213 $ 622,994 $ (29,550) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided (Used) by Operating Activities: Depreciation 686,273 120,303 99,606 906,182 - Changes in Assets and Liabilities: (Increase) Decrease in Accounts Receivable 41,670 21,259 62,929 349 (Increase) Decrease in Due from Other Governmental Units - (309,814) - (309,814) 172 (Increase) Decrease in Inventory - (274,537) - (274,537) - (Increase) Decrease in Prepaid Items - 108 - 108 - Increase (Decrease) in Vouchers Payable 59 3,028 (14,834) (11,747) 2,763 Increase (Decrease) in Due to Other Funds - - (33,247) (33,247) - Increase (Decrease) in Accrued Wages Payable 4,502 - (1,899) 2,603 (846) Increase (Decrease) in Claims Payable - - - - (4,203) Increase (Decrease) in Due to Others - - - - (97) Increase (Decrease) in Compensated Absences 18,458 - (20,038) (1,580) 68,163 Increase (Decrease) in Landfill Closure Liability 307,577 - - 307,577 - Increase (Decrease) in Deferred Revenues - - (10,408) (10,408) 317,513 Increase (Decrease) in Customer Deposits (459) - (73,969) (74,428) - Increase (Decrease) in Other Post- Employment Benefits 6,275 - (24,417) (18,142) - Total Adjustments 1,064,355 (460,912) (57,947) 545,496 383,814
Net Cash Provided (Used) by Operating Activities$ 1,091,836 $ (10,612) $ 87,266 $ 1,168,490 $ 354,264
RECONCILIATION OF ENTERPRISE FUND CASH AND CASH EQUIVALENTS TO COMBINING BALANCE SHEET CASH AND CASH EQUIVALENTS Cash and Temporary Investments$ 7,901,396 $ 777,630 $ - $ 8,679,026 $ 5,582,072 Less: Restricted Cash and Investments 80,375 - - 80,375 -
Total Unrestricted Cash and Cash Equivalents$ 7,821,021 $ 777,630 $ - $ 8,598,651 $ 5,582,072
See accompanying Notes to Financial Statements. (40) HIGHLANDS COUNTY, FLORIDA STATEMENT OF FIDUCIARY ASSETS AGENCY FUNDS SEPTEMBER 30, 2012
Agency Funds ASSETS Cash and Cash Equivalents$ 2,333,410 Investments 233,984 Due from Others 7,652 Due from Other Governmental Units 2,687
Total Assets $ 2,577,733
LIABILITIES Vouchers Payable $ 13,716 Due to Others 265,684 Due to Other Governmental Units 1,749,092 Deposits 512,251 Tax Deed Surplus 36,990
Total Liabilities $ 2,577,733
See accompanying Notes to Financial Statements. (41) NOTES TO FINANCIAL STATEMENTS
Note Page
1. Summary of Significant Accounting Policies ...... 42-64
2. Cash, Cash Equivalents and Investments ...... 64-66
3. Accounts Receivable ...... 67
4. Capital Assets ...... 68-70
5. Interfund Balances ...... 70-71
6. Restricted Assets ...... 71
7. Long-Term Liabilities ...... 72-76
8. Leases ...... 77
9. Governmental Fund Balances ...... 78
10. Personnel Commitments ...... 78-81
11. Landfill Closure and Postclosure Care Cost ...... 81-82
12. Miscellaneous Revenue ...... 82
13. Major Customers ...... 82
14. Contingent Liabilities ...... 83
15. Risk Management ...... 83-84
16. Retirement Plan ...... 84-85
17. Fund Balance Deficit ...... 86
18. Interfund Transfers ...... 86
19. Transfer of Utility Operations to Municipality ...... 87
HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
Highlands County (County) is a non-charter County established under the Constitution and the laws of the State of Florida. The six offices elected county-wide are as follows: Board of County Commissioners composed of five members, Clerk of Courts, Property Appraiser, Tax Collector, Sheriff, and Supervisor of Elections.
The Board of County Commissioners (Board), as the legislative body for the County, budgets and provides the funding used by the separate constitutional offices with the exception of fees collected by the Tax Collector, Property Appraiser, and the Clerk’s court operations. Under the direction of the Clerk of Courts, the Division of Business Services maintains the accounting system for the Board's operations. The Clerk of Courts (Clerk), Property Appraiser (Appraiser), Tax Collector (Collector), Sheriff, and Supervisor of Elections (Supervisor) each maintain their own accounting system. The operations of the Board and each constitutional office have been combined in these financial statements.
As required by accounting principles generally accepted in the United States of America (GAAP), these financial statements present the government and its component units, entities for which the government is considered to be financially accountable. Blended component units, although legally separate entities, are in substance part of the government's operations and so data from these units are combined with data of the primary government. The discretely presented component unit, on the other hand, is reported in a separate column in the combined financial statements to emphasize that it is legally separate from the government. The discretely presented component unit has a September 30 fiscal year-end.
Blended Component Units The following component units are included in the accompanying financial statements as part of the primary government because they satisfy the criteria in Governmental Accounting Standards Board (GASB) Statement No. 14 for blending:
Lake Placid Sun-N-Lake Estates Fire District was established by Ordinance 81-2 to provide fire protection services to the residents of the District. The Board is the ex- officio board of supervisors, the governing board of the District, and approves the annual budget of the District. The Fire District is operated as a special revenue fund of the Board.
DeSoto City Special Benefit Fire District was established by Ordinance 82-6 to provide fire protection services to the residents within the District. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
(42) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
A. Reporting Entity (Continued)
Blended Component Units (Continued) Orange Villa Special Benefit District was established by Ordinance 79-1 to provide street and recreational lights within the District. The Board serves as the governing body of the District and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Hickory Hills Special Benefit District was established by Ordinance 87-3 to provide street and recreational facilities within the District. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Placid Lakes Special Benefit District was established by Ordinance 92-10 to provide maintenance of recreational areas, streets, fire protection, and canals. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Sebring Country Estates Special Benefit District was established by Ordinance 78-4 to provide installation and maintenance of street lighting within the District. The Board serves as the governing body of the District and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Istokpoga Marsh Watershed Improvement District was established by Ordinance 80-2 to provide flood and erosion control and improvements to waterways within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Improvement District is operated as a special revenue fund of the Board.
Avon Park Estates Special Benefit District was established by Ordinance 80-5 to provide road maintenance, improvements, reconstruction and paving, drainage maintenance, maintenance of streetlights, and other purposes within the District. The Board serves as the governing body of the District and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
(43) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
A. Reporting Entity (Continued)
Blended Component Units (Continued) Highlands Lakes Special Tax District was established by Ordinance 84-1 to provide fire protection services within the District. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Tax District is operated as a special revenue fund of the Board.
Highlands Park Special Benefit Fire District was established by Ordinance 87-3 to provide fire protection services directly, or by assistance, to local volunteer fire departments on property located within the District. The Board serves as the governing body of the District and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
Highlands Park Estates Improvement Trust was established by resolution in 1981 (Resolution Book 6, Page 20) to assure maintenance, construction and repairs on public thoroughfares in Highlands Park Estates Subdivision. The Improvement Trust is operated as a special revenue fund of the Board.
Leisure Lakes Special Benefit Fire District was established by Ordinance 85-4 to provide fire protection services within the District. The Board serves as the governing body of the District and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
Sebring Hills Special Benefit District was established by Ordinance 89-5 to provide street lights within the District. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Red Hill Farms Improvement District was established by Ordinance 89-16 to provide construction and maintenance of roads and drainage facilities within the District. The Board serves as the governing body of the District and approves the annual budget of the District. The Improvement District is operated as a special revenue fund of the Board.
Orange Blossom Estates Special Benefit District was established by Ordinance 90-16 to provide road maintenance, construction of roads, and drainage facilities. The Board serves as the governing body of the District and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
(44) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
A. Reporting Entity (Continued)
Blended Component Units (Continued) Sun-N-Lakes of Lake Placid Recreation District was established by Ordinance 92-35 to provide recreational facilities, maintenance of parks and installation and maintenance of streetlights within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Recreation District is operated as a special revenue fund of the Board.
Sebring Acres Special Benefit District was established by Ordinance 94-14 and Section 125.01(1)(q), Florida Statutes, to provide flood and erosion control, water and sewer systems, road maintenance, fire protection, recreational facilities, and street lighting within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Orange Blossom (Unit 12) Special Benefit District was established by Ordinance 95-39 and Section 125.01(1)(q), Florida Statutes, to provide flood and erosion control, water and sewer systems, fire protection services, recreational facilities, road maintenance, and street lighting within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Lake Haven Estates Special Benefit District was established by Ordinance 95-34 and Section 125.01(1)(q), Florida Statutes, to provide street lighting within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Lorida Special Benefit Fire District was established by Ordinance 96-20 to provide fire protection services within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
Lake Placid Special Benefit Fire District was established by Ordinance 98-03 to provide fire protection services within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
(45) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
A. Reporting Entity (Continued)
Blended Component Units (Continued) Highway Park Special Benefit District was established by Ordinance 98-36 to provide and maintain street lighting within the District and pay the electrical bills incurred. The Board is the ex-officio board of supervisors, is the governing body of the District and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
Sun-N-Lake 1-20 Improvement Trust was established by Resolution 2001-96 to assure construction of drainage and paved streets in Units 1 through 20 of Sun-n- Lake Estates of Lake Placid Subdivision. The Improvement Trust is operated as a special revenue fund of the Board.
Highlands Park Estates Special Benefit District was established by Ordinance 00- 25 to provide facilities and improvements within the District. The Board is the ex- officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
West Sebring Special Benefit Fire District was established by Ordinance 01-02-6 to provide fire protection services within the District. The Board is the ex-officio board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
Venus Special Benefit Fire District was established by Ordinance 96-19 to provide fire protection services within the District. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit Fire District is operated as a special revenue fund of the Board.
Placid Lakes Fire District was established by Ordinance 03-04-6 to provide fire protection services within the District. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the district. The Fire District is operated as a special revenue fund of the Board.
Thunderbird Hill Wastewater Special Benefit District was established by Ordinance 07-08-13 to track the special assessment financing of the upgrade, construction and operations of the wastewater infrastructure for the Thunderbird Hills area. The Board serves as the board of supervisors, the governing body of the District, and approves the annual budget of the District. The Special Benefit District is operated as a special revenue fund of the Board.
(46) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
A. Reporting Entity (Continued)
Discretely Presented Component Unit The financial statements include the following discretely presented component unit:
Industrial Development Authority The Highlands County Industrial Development Authority (Authority), established by a resolution of the Board, is a legally separate entity governed by a board appointed by the County Commission. The Authority’s function is to finance and refinance public purpose projects as described in Sections 159.44-159.53, Florida Statutes, and to foster economic development of the County. The Authority is dependent upon the Board for a significant portion of its funding and is presented as a governmental fund type. Complete financial statements for the Industrial Development Authority may be obtained at One East Main Street, Avon Park, Florida 33825.
B. Measurement Focus and Basis of Accounting
The basic financial statements of the County are composed of the following:
Government-wide financial statements Fund financial statements Notes to the financial statements
Government-Wide Financial Statements Government-wide financial statements display information about the reporting government as a whole, except for its fiduciary activities. These statements include separate columns for the governmental and business-type activities of the primary government, as well as its discretely presented component unit. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely, to a significant extent, on fees and charges for support. Likewise, the primary government is reported separately from the legally separate component unit for which the primary government is financially accountable.
Government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Under the accrual basis of accounting, revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. Revenues, expenses, gains, losses, assets, and liabilities resulting from nonexchange transactions are recognized in accordance with the requirements of GASB Statement No. 33 – Accounting and Financial Reporting for Nonexchange Transactions.
(47) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
B. Measurement Focus and Basis of Accounting (Continued)
Government-Wide Financial Statements (Continued) Program revenues derive directly from the program itself or from parties outside the reporting government’s taxpayers or citizenry, as a whole; they reduce the cost of the function to be financed from the government’s general revenues. Program revenues include charges for services, program specific operating grants and contributions and program specific capital grants and contributions. Program revenues are netted with program expenses in the statement of activities to present the net cost of each program.
In the State of Florida, certain state shared revenues are considered to be unrestricted general revenues.
Amounts paid to acquire capital assets are capitalized as assets in the government-wide financial statements, rather than reported as an expenditure. Proceeds of long-term debt are recorded as liabilities in the government-wide financial statements, rather than as an other financing source. Amounts paid to reduce long-term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expenditure.
As a general rule, the effect of interfund activity, except for interfund services provided and used, has been eliminated from the government-wide financial statements. The County chooses to eliminate the indirect costs between governmental activities to avoid a “doubling up” effect.
The County’s fiduciary funds are presented in the fund financial statements by type (agency). Since these assets are being held for the benefit of a third party and cannot be used to address activities or obligations of the government, these funds are not incorporated into the government-wide statements.
Fund Financial Statements The underlying accounting system of the County is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled.
(48) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
B. Measurement Focus and Basis of Accounting (Continued)
Fund Financial Statements (Continued) Fund financial statements for the primary government’s governmental, proprietary and fiduciary funds are presented after the government-wide financial statements. These statements display information about major funds individually and nonmajor funds in the aggregate for governmental and enterprise funds. The fiduciary statement includes financial information for the agency funds. The agency funds of the County primarily represent assets held by the County in a custodial capacity for other individuals or governments.
When both restricted and unrestricted resources are combined in a fund, expenses are considered to be paid first from restricted resources and then from unrestricted resources.
Governmental Funds Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collected within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the County considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Property taxes, intergovernmental revenues and interest earned associated with the current fiscal period are all considered to be susceptible to accrual and have been recorded in the current fiscal period. All other revenue items are considered to be measurable only when cash is received by the County. Expenditures generally are recorded when a liability is incurred, as under accrual accounting.
Under the current financial resources measurement focus, only current assets and current liabilities are generally included on the balance sheet. The reported fund balance is considered to be a measure of “available spendable resources”. Governmental funds operating statements present increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets. Accordingly, they are said to present a summary of sources and uses of “available spendable resources” during a period.
Noncurrent portions of long-term receivables (special assessment) due to governmental funds are reported on their balance sheets in spite of their spending measurement focus.
Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by noncurrent liabilities. Since they do not affect net current assets, such long-term amounts are not recognized as governmental fund type expenditures or fund liabilities.
(49) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
B. Measurement Focus and Basis of Accounting (Continued)
Governmental Funds (Continued) Amounts expended to acquire capital assets are recorded as expenditures in the year that resources were expended, rather than as fund assets. The proceeds of long-term debt are recorded as another financing source rather than as a fund liability. However, debt service expenditures and claims and judgments are recorded only when payment is due.
Proprietary Funds The County’s enterprise funds and internal service funds are proprietary funds. In the fund financial statements, proprietary funds are presented using the accrual basis of accounting. Revenues are recognized when they are earned and expenses are recognized when the related goods or services are delivered. In the fund financial statements, proprietary funds are presented using the economic resources measurement focus. This means that all assets and all liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Proprietary fund type operating statements present increases (revenues) and decreases (expenses) in total net assets. The Board applies all Statement of Financial Accounting Standards and Interpretations issued before November 30, 1989 except those that conflict with or contradict Statements of Government Accounting Standards. The County has elected not to apply Financial Accounting Standards Board Pronouncements issued after November 30, 1989.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The operating revenues of the County’s enterprise funds, the Water and Sewer Units, the Solid Waste Disposal System, and Energy Recovery System are charges for services to customers. Operating expenses of these operations include salaries, contractual services, materials and supplies, utilities, equipment rental and maintenance, administrative charges, and depreciation. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the County’s policy to first apply restricted resources when an expense is incurred for purposes for which both restricted and unrestricted assets are available.
Amounts paid to acquire capital assets are capitalized as assets in the fund financial statements, rather than reported as an expense. Proceeds of long-term debt are recorded as a liability in the fund financial statements, rather than as an other financing source. Amounts paid to reduce long-term indebtedness are reported as a reduction of the related liabilities, rather than as an expense.
(50) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
B. Measurement Focus and Basis of Accounting (Continued)
Basis of Presentation GASB Statement No. 34 sets forth minimum criteria (percentage of the assets, liabilities, revenues, or expenditures/expenses of either fund category and the governmental and enterprise combined) for the determination of major funds. The nonmajor funds are combined in a column in the fund financial statements and detailed in the combining section.
Governmental Major Funds General Fund – The General Fund is the general operating fund of the County. It is used to account for all financial resources, except those required to be accounted for in another fund.
County Transportation Trust – The County Transportation Trust Fund is a special revenue fund used to account for the operations of the road and bridge department. Financing is provided principally by the County's share of state gasoline taxes and the sixth-cent local option gas tax which are restricted.
Local Government Infrastructure Surtax – The Local Government Infrastructure Surtax Fund is a special revenue fund used to account for the voted one-cent local option sales surtax. The proceeds for this surtax are restricted for development of infrastructure or acquisition of land.
Proprietary Major Funds Solid Waste – This fund accounts for all facilities and administration relating to the sanitary disposal of solid waste (refuse) including debt service payments on all outstanding Solid Waste Facility long-term debt.
Energy Recovery – This fund accounts for the operation of a County owned and operated asphalt plant.
Other Fund Types Internal Service Funds – Internal Service Funds account for risk retention, employee benefit, insurance, and compensated absences provided to other departments of the County on a cost reimbursement basis.
Agency Funds – The Agency Funds account for all assets held by the County in its capacity as custodian or agent for individuals, other governmental units and non- public organizations. The Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. A description of each agency fund can be found on pages 202-203.
(51) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Budgets and Budgetary Accounting
The following are the procedures followed by the Board in establishing the budget for Highlands County:
1. On or before June 1 of each year, the Sheriff, the Clerk, the Collector and the Supervisor submit to the Board a tentative budget for their respective offices for the ensuing fiscal year.
2. Within fifteen days after certification of the ad valorem tax roll by the Appraiser, the Office of Management and Budget submits to the Board a proposed operating budget for the fiscal year commencing the following October 1. The operating budget includes proposed expenditures and the means of financing them.
3. By Board resolution, a tentative budget is submitted to the public and public hearings are held to obtain taxpayers' comments.
4. Within twenty days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing.
5. The County's operating budget is legally enacted through passage of a resolution at the final public hearing. Accordingly, all fund types have an adopted budget as required by Section 129.03, Florida Statutes.
6. Section 129.07, Florida Statutes, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between departments, this becomes the level of control. The budgetary data presented herein was amended by the Board during the year in a legally permissible manner.
7. Formal budgetary integration is employed as a management control device during the year for all Governmental and Proprietary Fund Types except for Court, Public Records Modernization Trust Fund, Teen Court Operations Fund, Court Related Technology Modernization Trust Fund, Court Operations Modernization Trust Fund, Community Donations Fund, and the Inmate Welfare Fund, which do not have legally adopted budgets.
(52) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Budgets and Budgetary Accounting (Continued)
8. Annual appropriated budgets for the General, Special Revenue, Capital Projects, and Proprietary Funds are legally adopted on a basis consistent with GAAP. However, the only funds legally required to report budgets are the General and Special Revenue Funds.
9. It is the Board's policy to amend the budget when unanticipated revenues and expenditures occur.
10. All appropriations lapse at the close of the fiscal year.
D. Reconciliation of Government-Wide and Fund Financial Statements
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-Wide Statement of Net Assets “Total fund balances” of the County’s governmental funds, $64,018,563, differs from “net assets” of governmental activities, $247,418,219, reported in the statement of net assets. This difference primarily results from the long-term economic focus of the statement of net assets versus the current financial resources focus of the governmental fund balance sheet.
Capital Related Items When capital assets (property, plant, equipment) that are to be used in governmental activities are purchased or constructed, the cost of those assets is reported as expenditures in governmental funds. However, the statement of net assets included those capital assets among the assets of the County as a whole.
Cost of Capital Assets$ 252,499,926 Accumulated Depreciation/Amortization (53,078,645) Total Capital Assets$ 199,421,281
Receivable Transactions Certain receivables are not available to pay current period expenditures, and therefore are reported as deferred revenue in the funds. Balances as of September 30, 2012 were:
Deferred Revenue$ 1,500,000
(53) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Reconciliation of Government-Wide and Fund Financial Statements (Continued)
Explanation of Differences Between the Governmental Fund Balance Sheet and the Government-Wide Statement of Net Assets (Continued) Long-Term Debt Transactions Long-term liabilities applicable to the County’s governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities. All liabilities (both current and long-term) are reported in the statement of net assets. Balances as of September 30, 2012 were:
Notes and Revenue Certificates Payable$ (13,087,046) Capital Leases (93,561) Other Postemployment Benefits (4,619,335) Total Long-Term Liabilities (17,799,942) Less deferred charges on refunding of bonds 141,729 $ (17,658,213)
Accrued Interest Accrued liabilities in the statement of net assets differ from the amount reported in governmental funds due to accrued interest on notes payable and revenue certificates.
Accrued Interest on Notes Payable and Revenue Certificates$ (120,024)
Internal Service Funds Internal service funds are used by management to charge the costs of risk retention, employee benefits and compensated absences to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net assets because they primarily serve governmental activities of the County.
Internal Service Funds$ 256,612
Elimination of Interfund Receivables/Payables Interfund receivables and payables in the amount of $412,824 between governmental funds must be eliminated from the statement of net assets.
(54) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Reconciliation of Government-Wide and Fund Financial Statements (Continued)
Explanation of Differences Between the Governmental Fund Operating Statement and the Statement of Activities: The “net change in fund balances” for governmental funds, $3,605,419, differs from the “change in net assets” for governmental activities, $1,849,485, reported in the statement of activities. The differences arise primarily from the long-term economic focus of the statement of activities versus the current financial resources focus of the governmental funds. The effect of the differences is illustrated below.
Capital Related Items When capital assets that are to be used in governmental activities are purchased or constructed, the resources expended for those assets are reported as expenditures in governmental funds. However, in the statement of activities, the costs of those assets is allocated over their estimated useful lives and reported as depreciation/amortization expense. As a result, fund balances decrease by the amount of financial resources expended, whereas net assets decrease by the amount of depreciation/amortization expense charged for the year.
Capital Outlay$ 5,865,112 Depreciation/Amortization Expense (5,618,096) Difference$ 247,016
In the statement of activities, the gain/loss on the sale of capital assets is reported. However, in the governmental funds, the proceeds from the sale increase financial resources. Thus, the change in net assets differs from the change in fund balance by the cost of the capital assets sold.
Sale of Capital Assets$ (518,267)
Long-Term Debt Transactions The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net assets. Also, governmental funds report the effect of issuance costs, premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities.
(55) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
D. Reconciliation of Government-Wide and Fund Financial Statements (Continued)
Explanation of Differences Between the Governmental Fund Operating Statement and the Statement of Activities (Continued) Long-Term Debt Transactions (Continued) Increase in Other Post-Employment Benefits$ (292,142) Issue of Notes Payable (210,000) Bond Refunding Costs (20,009) Principal Repayments: Notes Payable 1,426,795 Revenue Certificates 15,000 Capital Leases 85,813 Net Adjustment$ 1,005,457
Revenue Transactions Some revenue reported in the statement of activities will not be collected for several months after the fiscal year-end and, therefore, are not reported as revenue in the governmental funds.
Intergovernmental Revenue$ (300,000)
Accrued Interest Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds.
Net Change in Interest Payable$ 42,998
Internal Service Funds Operating Loss The assets and liabilities of the internal service funds are included in governmental activities in the statement of net assets because they primarily serve governmental activities of the County.
Internal Service Funds Operating Income Allocated to Governmental Activities$ (30,390) Internal Service Funds Non-Operating Revenues Allocated to Governmental Activities 33,948 Internal Service Funds Transfer Out Allocated to Governmental Activities (2,236,696) Net Adjustment$ (2,233,138)
(56) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Cash and Cash Equivalents
Cash and cash equivalents include cash on hand as well as demand deposits and investments with original maturities of three months or less from the date of acquisition.
Cash balances from the majority of funds are pooled for investment purposes. Earnings from such investments are allocated to the respective funds based on applicable cash participation by each fund. The investment pools are managed such that all participating funds have the ability to deposit and withdraw cash as if they were demand deposit accounts and, therefore, all balances representing participants' equity in the investment pools are classified as cash equivalents for purposes of these financial statements.
For the purpose of the statement of cash flows, each fund's equity in the investment pool is considered to be a cash equivalent since deposits and withdrawals can be made at anytime without prior notice or penalty.
F. Investments
In accordance with the provisions of GASB Statement No. 31, the County reports investments at their fair value on the balance sheet with unrealized gains and losses charged or credited to the net change in fair value of investments. The fair value of each security is based on the quoted market value provided by the broker. Money market investments and investments in SEC Rule 2a-7 like pools, which include the Local Government Surplus Funds Trust Funds PRIME fund, are reported as cash equivalents at amortized cost.
The County invests surplus public funds in accordance with Section 218.415, Florida Statutes.
G. Accounts Receivable
Receivables are shown net of allowance for doubtful accounts. Doubtful accounts are those unpaid more than 180 days for Emergency Medical Services (EMS) and 90 days for all other accounts. Receivables are set up when services are rendered for EMS, Landfill, and Utilities. The retired employees’ health insurance premiums receivables are billed on a monthly basis. Receivables related to grants are not reflected until expenditures are recorded against that grant. Reinsurance recovery receivable is determined by those insurance claims that exceed the County's insurance limit, but are covered by the County's excess coverage.
(57) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
H. Interfund Transactions
Interfund transactions are accounted for in the following manner:
Transactions for services rendered are recorded as revenues in the receiving fund and as expenditures or expenses (as appropriate) in the disbursing fund.
Transactions to reimburse a fund for expenditures made by it for the benefit of another fund are recorded as expenditures or expenses (as appropriate) in the disbursing fund and as a reduction of expenditures or expenses (as appropriate) in the receiving fund, and transactions to shift revenues from the fund budgeted to receive them to the fund budgeted to expend them are recorded as operating transfers in and out, respectively.
Transactions recording equity transfers to Proprietary Funds are reported as deductions from the beginning balance of Governmental Funds and as additions to contributed capital of Proprietary Funds.
Transfers are reported in the "Other Financing Sources (Uses)" section in the statement of revenues, expenditures, and changes in fund balances and in the "Transfers" section in the statement of revenues, expenses, and changes in fund net assets. As of fiscal year end, any unpaid amounts related to these transactions are reported as due to/from other funds on the balance sheet. Assets acquired or constructed by resources of a Governmental Fund which are subsequently transferred to a Proprietary Fund are accounted for as expenditures within the Governmental Fund and as contributed capital in the Proprietary Fund.
Long-term interfund advances are recorded as reductions in fund balance by the advancing fund in the Governmental Fund Types. The amount advanced is reported as "Advances To Other Funds" and as "Nonspendable Fund Balance" to maintain the accountability and to properly disclose the amount available for appropriation. Repayments are credited to fund balance, and corresponding reductions are made in the receivable.
I. Inventories
Inventories are stated at cost using the moving average cost basis. The consumption method is used to account for inventories. The cost is recorded as an expenditure or expense as appropriate at the time individual inventory items are consumed. Inventories reported in the General Fund are equally offset by nonspendable fund balance which indicates they are unavailable for appropriation.
(58) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
J. Prepaid Items
Prepaid insurance and similar items are recorded using the consumption method of accounting. Under the consumption method, services paid for in advance are reported as an asset until the period in which the services are actually consumed.
K. Property Tax
The County's property tax roll is as follows:
Valuation Date January 1, 2012 Appraiser prepares the assessment roll with values as of January 1, 2012, submits this preliminary roll for approval by the Department of Revenue and notifies each taxing authority of their respective valuations. July 1, 2012 Each taxing authority holds two required public hearings and adopts a budget and ad valorem tax millage rates for the coming year. September 2012 Appraiser certifies the assessment roll and all real and tangible personal property taxes are due and payable (levy date). November 2012 Collector mails a notice of taxes to each property owner on the assessment roll. Taxes may be paid November 2012 through March 2013 with the following applicable discounts: Month Discount Percent November 4 December 3 January 2 February 1 March 0 All unpaid taxes on real and tangible personal property become delinquent. April 1, 2013 A list of unpaid tangible personal property taxes and a list of unpaid real property taxes are advertised. April and May 2013 Tax certificates are sold on all real estate parcels with unpaid real property taxes (lien date). June 1, 2013 A court order is obtained authorizing the seizure and sale of personal property if the taxpayer fails to pay the delinquent personal property taxes. June 1, 2013
(59) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
K. Property Tax (Continued)
Ad valorem taxes on any real property with more than $100 of estimated taxes due may be prepaid in installments as follows:
Payment Discount Discount Due Amount Due Percent Due Date First 25% of estimated tax 6.00 June 30, 2012
Second 25% of estimated tax 4.50 September 30, 2012 Third 25% of estimated tax plus 50% adjustment to actual tax 3.00 December 31, 2012
Fourth 25% of estimated tax plus 50% adjustment to actual tax 0.00 March 31, 2013
No accrual for the property tax levy becoming due in November 2012 is included in the accompanying financial statements since such taxes are collected to finance expenditures of the subsequent period. Property taxes receivable and a corresponding allowance for uncollectible property taxes are not included in the financial statements.
L. Capital Assets
Capital assets, which include property, plant, equipment, intangibles (e.g., software, easements, websites, radio frequencies, land use rights, patents, trademarks and copyrights) and infrastructure assets (e.g., roads, bridges, rights-of-way, water and sewer distribution systems and similar items) are reported in the applicable governmental or business-type activities column in the government-wide financial statements.
Governmental Accounting Standards Board Statement No. 51 established accounting and financial reporting requirements for intangible assets. Highlands County has implemented this statement by incorporating software, easements, patents, copyrights, water, timber, and land use rights as intangible assets. Information regarding intangible assets is included in Note 4 in the financial statements.
The Board holds legal title for the capital assets used in the operations of the Board, the Clerk, the Appraiser, the Supervisor, and the Collector, and is accountable for them under Florida Law. Capital assets used by the Board’s governmental funds are reported in the financial statements of the County.
Capital assets of the Board’s enterprise and internal service funds are reported in the Proprietary Funds financial statements.
(60) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
L. Capital Assets (Continued)
Capital assets are defined by the County as having a minimum established cost (in the table listed below) and an estimated useful life in excess of one year. Capital assets are valued at historical cost or estimated historical cost if actual is not available. Donated capital assets are recorded at estimated fair market value at the date of donation. Property, plant, equipment and intangibles are depreciated or amortized using the straight-line method over the following generally applied estimated useful lives:
Assets Years Threshold Buildings 10 – 40 $5,000 Improvements Other Than Buildings 3 – 40 $5,000 Operating Machinery and Equipment 4 – 20 $5,000 Software – Internally Generated 3 – 10 $15,000 Software – Purchased/Leased 3 – 10 $25,000 Land Use Rights – Permanent N/A $15,000 Land Use Rights – Term Term $25,000 Other Capital Intangibles Varies $20,000
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend its useful life are not capitalized.
Capital assets acquired by lease/purchase agreements or multiple year installment purchase contracts are recorded in the governmental funds in the year acquired as capital outlay expenditures and as other financing sources in the amount of the discounted present value of the total stipulated payments.
The County has elected to use the modified approach for accounting for its bridges and roadways included in the County highway system. Under this approach, the County has made the commitment to preserve and maintain these assets at levels established by the County and approved by the Board. No depreciation expense is reported for such assets, nor are amounts capitalized in connection with improvements that lengthen the lives of such assets, unless the improvements also increase their service potential. The County maintains an inventory of these assets and performs periodic condition assessments to establish that the predetermined condition level is being maintained. In addition, the County makes annual estimates of the amounts that must be expended to preserve and maintain these assets at the predetermined condition levels. Refer to RSI for additional information on infrastructure using the modified approach.
(61) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
M. Deferred Revenues
Revenues in the Governmental Fund Types which are measurable but not available are reported in accordance with the modified accrual basis of accounting as deferred revenue. The deferred revenues will be recognized as revenue in the fiscal year they become available.
Revenues in the Proprietary Fund Types which have not been earned are reported in accordance with the accrual basis of accounting as deferred revenue. The deferred revenue will be recognized as revenues in the fiscal year they are earned.
N. Compensated Absences
County policy permits employees to accumulate annual and sick leave credits in varying amounts, which will be paid to employees upon termination of employment. Accumulated annual and sick leave is recorded as an expenditure/expense in an Internal Service Fund for governmental activities and in Proprietary Fund Types for the vested annual and sick leave credits. The liability for compensated absences is liquidated in the fund in which an employee’s payroll expense is normally recorded.
O. Landfill Closure Costs
The County has obtained engineering estimates of future costs to close and monitor sanitary landfill sites in accordance with State and Federal guidelines. Estimated landfill closing and monitoring costs are being accrued in the Solid Waste Enterprise Fund over the operating life of the landfill representing the commitment to fund such costs for the future.
P. Encumbrances
Encumbrance accounting, under which purchase orders, contracts and other commitments for expenditure of funds are recorded to reserve that portion of the applicable appropriation, is employed in the Governmental Fund Types. Encumbrances are not the equivalent of expenditures; but rather represent a future commitment to purchase goods or services. Although encumbrances lapse at fiscal year-end, it is the County’s intention to honor these encumbrances under authority provided in the subsequent years budget. Encumbrances outstanding as of September 30, 2012 totaled $3,578,923. Encumbrances of the major funds totaled $3,024,885 and consisted of the following: General Fund, $1,078,004; County Transportation Trust $242,916; and Local Government Infrastructure Surtax, $1,703,965. Nonmajor fund encumbrances, in the aggregate, totaled $554,038.
(62) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Q. Operating Subsidies and Grants
Operating subsidies and grants which finance current operations are generally recorded as nonoperating revenue in the Enterprise Funds when earned and as intergovernmental revenue in the Governmental Fund Types when they become measurable and available.
R. Self-Insurance
Employee dental insurance is provided under an externally administrated self-insured plan. Contributions from the County (single rate) and the employees (family rate) pay the dental insurance plan. Contributions are based in part on the annual actuarial study performed by an enrolled actuary.
The self-insurance dental plan is accounted for in an Internal Service Fund.
S. Eliminations
Eliminating entries were made between departments in the general fund.
T. Fund Balance
Governmental funds report fund balances as either spendable or nonspendable. Spendable fund balances are further classified based on the extent to which there are external and internal constraints on the spending of the fund balances. The classifications of fund balances are described as follows:
Nonspendable Fund Balance – Amounts that cannot be spent because they are either not in spendable form (such as inventories and prepaid amounts) or are legally or contractually required to be maintained intact.
Restricted Fund Balance – Amounts that can be spent only for specific purposes because of constraints imposed by external providers (such as grantors, bondholders, and higher levels of government), or imposed by constitutional provisions or enabling legislation.
Committed Fund Balance – Amounts that can be spent only for specific purposes determined by a formal action of the Board of County Commissioners, the County’s highest level of decision-making authority. Commitments may be changed or lifted only by the Board of County Commissioners taking the same formal action (ordinance) that originally imposed the constraint.
Assigned Fund Balance – Amounts intended to be used by the County for specific purposes. This includes spendable fund balance amounts established by the Board of County Commissioners or the County Administrator that are neither restricted or committed.
(63) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
T. Fund Balance (Continued)
Unassigned Fund Balance – Amounts that are available for any purpose; these amounts can be reported only in the Board’s General Fund. Unassigned fund balance may also include negative balance for any governmental fund if expenditures exceed amounts restricted, committed, or assigned for those purposes.
When an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available, the County considers restricted funds to have been spent first. When an expenditure is incurred for which committed, assigned, or unassigned fund balances are available, the County considers amounts to have been spent first out of committed funds, then assigned funds, and finally unassigned funds, as needed, unless the Board has provided otherwise in its commitment or assignment actions. The Board of County Commissioners adopted a fund balance policy for the county as a whole. The County intends to maintain unassigned fund balance in the General Fund of not less than three months of the following year’s General Fund budgeted expenditures.
U. Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make use of estimates that affect reported amounts in the financial statements. Actual results could differ from estimates.
NOTE 2 CASH, CASH EQUIVALENTS AND INVESTMENTS
Cash and cash equivalents at September 30, 2012 consist of:
Demand Deposits$ 39,287,342 Certificates of Deposit 227,385 Petty Cash and Change Funds 22,850 Local Government Surplus Trust Fund PRIME Fund 12,581,664 $ 52,119,241
Custodial Credit Risk is the risk that in the event of a bank failure, the government’s deposits may not be returned to it. At year-end, the government’s deposits were entirely covered by federal depository insurance or guaranteed by qualified public depositories in Florida pursuant to Chapter 280, Florida Statutes. Other than the preceding, the County has no policy on custodial credit risk.
Collateral is provided for demand deposits through the Florida Security for Public Deposits Act. This law establishes guidelines for qualification and participation by banks and savings associations, procedures for the administration of the collateral requirements and characteristics of eligible collateral. Under this law, the qualified public depository must pledge at least 25% of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance.
(64) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 2 CASH, CASH EQUIVALENTS AND INVESTMENTS (CONTINUED)
Additional collateral, up to a maximum of 200%, may be required if deemed necessary under the conditions set forth in this law. Eligible collateral consists of obligations of the United States and its agencies and obligations of states and their local political subdivisions and unaffiliated corporations.
Obligations pledged to secure deposits must be delivered to the State Treasurer or, with the approval of the State Treasurer, to a bank, savings association or trust company provided a power of attorney is delivered to the State Treasurer. On a monthly basis, the State Treasurer determines that the collateral has a market value adequate to cover the deposits under the provisions of this law.
The County invests funds throughout the year with Florida PRIME, an investment pool administered by the State Board of Administration (SBA) under the regulatory oversight of the State of Florida. Investments in Florida PRIME are made pursuant to Chapter 125.31, Florida Statutes. The investments are not categorized because they are not evidenced by securities that exist in physical or book entry form. Throughout the year and as of September 30, 2012, Florida PRIME contained certain floating and adjustable rate securities which were indexed based on the prime rate and/or one and three month LIBOR rates. These investments represented 25.8% of the Florida PRIME’s portfolio at September 30, 2012.
Florida PRIME is considered to be a Rule 2a-7 like pool and is reported, at amortized cost, as a cash equivalent. On September 30, 2012, Standard and Poor’s Ratings Services assigned the Florida PRIME an “AAAm” principal stability fund rating. The weighted average days to maturity (WAM) of Florida PRIME as of September 30, 2012 was 39 days.
The County also has funds invested in the Fund B Surplus Trust Fund (Fund B), an investment fund administered by the SBA. Fund B is accounted for as a fluctuating NAV pool and is reported at fair value, determined by the fair value per share of the pool’s underlying portfolio. The investment objective for Fund B is to maximize the present value of distributions to participants, to the extent reasonable and prudent, net of fees; thus weight is given not only to the realized value of security sales, but also to the speed with which monies are distributed (liquidity). As cash becomes available in Fund B, it is distributed among participant accounts in the Florida PRIME, according to each participant’s pro rata share of Fund B. All distributions from Fund B are 100% available liquid balance (ALB) upon transfer. The fair value factor for Fund B for September 30, 2012 is .94896811. As of September 30, 2012, the Board has $548,963 invested in Fund B. The weighted average life (WAL) of Fund B at September 30, 2012 was 4.08 years.
(65) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 2 CASH, CASH EQUIVALENTS AND INVESTMENTS (CONTINUED)
Interest Rate Risk The County’s investment pool also includes investment in the Florida Local Government Investment Trust (FLGIT), which is a public entity investment trust organized under the laws of the State of Florida. At September 30, 2012, the FLGIT portfolio included certain floating and adjustable rate securities. These securities amounted to 2.16% of the FLGIT portfolio and included 4 investments indexed on the one month LIBOR and/or the one-year CMT index. The Florida Local Government Investment Trust reports all share information at Net Asset Value (NAV) and reflects fair value accounting in accordance with GASB Statement No. 31. The value of the County’s position in the FLGIT external investment pool is the same as the value of the pools shares.
The County has no policy on interest rate risk. Investments and related level of risk at September 30, 2012, were as follows:
Investment Maturity Investment Type Fair Value (in years) Certificates of Deposit$ 5,291,821 Less than 1 Florida Local Government Investment Trust Fund 20,397,677 Less than 1 Local Government Surplus Funds Trust Fund - Fund B 548,963 1 - 5 $ 26,238,461
Credit Risk Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The County has no policy on credit risk. Presented below is the actual rating as of September 30, 2012 for each type of investment:
Credit Investment Type Rating Certificates of Deposit No Rating Florida Local Government Investment Trust Fund AAAf Local Government Surplus Funds Trust Fund - Fund B No Rating
(66) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 3 ACCOUNTS RECEIVABLE
Accounts receivable for the individual major and nonmajor and internal service funds in the aggregate consisted of the following at September 30, 2012:
Local County Government Nonmajor Transportation Infrastructure Solid and Other General Trust Surtax Waste Funds Total Emergency Medical Services$ 4,530,249 $ - $ - $ - $ - $ 4,530,249 Landfill Charges - - - 226,407 - 226,407 Miscellaneous 101,816 3,527 34,883 52,279 13,056 205,561 Accounts Receivable-Gross 4,632,065 3,527 34,883 278,686 13,056 4,962,217 Allowance for Doubtful Accounts (3,549,698) - - - - (3,549,698) Accounts Receivable-Net$ 1,082,367 $ 3,527 $ 34,883 $ 278,686 $ 13,056 $ 1,412,519
Activity in Emergency Medical Services accounts receivable was as follows:
Balance - September 30, 2011$ 3,694,053 Billings 5,824,994 Less: Cash Receipts (3,306,853) Medical/Medicaid Adjustments (1,013,213) Sent to Collection (598,575) Other Adjustments (70,157) Balance - September 30, 2012$ 4,530,249
(67) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 4 CAPITAL ASSETS
Capital asset activity for the year ended September 30, 2012 was as follows:
Beginning Ending Balance Increases Decreases Balances Governmental Activities Capital Assets, not being Depreciated/Amortized: Land$ 41,861,280 $ 60,730 $ - $ 41,922,010 Construction in Progress 20,772,979 2,905,823 (1,915,363) 21,763,439 Infrastructure 77,478,723 821,230 - 78,299,953 Land use Rights, Permanent 1,582,353 29,369 (72,227) 1,539,495 Total Capital Assets, Not Being Depreciated/Amortized 141,695,335 3,817,152 (1,987,590) 143,524,897
Capital Assets, Being Depreciated/Amortized: Buildings 52,409,709 901,758 (25,257) 53,286,210 Improvements Other Than Buildings 10,239,331 357,202 (25,016) 10,571,517 Machinery and Equipment 39,919,507 2,491,550 (1,740,306) 40,670,751 Computer Software 4,233,738 212,813 - 4,446,551 Total Capital Assets Being Depreciated/Amortized 106,802,285 3,963,323 (1,790,579) 108,975,029
Less: Accumulated Depreciation/Amortization for: Buildings (18,564,915) (1,573,720) 25,257 (20,113,378) Improvements Other Than Buildings (2,962,206) (391,599) 9,929 (3,343,876) Machinery and Equipment (24,563,737) (3,233,940) 1,309,353 (26,488,324) Computer Software (2,714,230) (418,837) - (3,133,067) Total Accumulated Depreciation/Amortization (48,805,088) (5,618,096) 1,344,539 (53,078,645) Total Capital Assets, Being Depreciated/ Amortized, Net 57,997,197 (1,654,773) (446,040) 55,896,384
Governmental Activities Capital Assets, Net$ 199,692,532 $ 2,162,379 $ (2,433,630) $ 199,421,281
Business-Type Activities Capital Assets, Not Being Depreciated/Amortized: Land$ 1,864,131 $ - $ (30,265) $ 1,833,866 Construction in Progress 91,264 - - 91,264 Total Capital Assets, Not Being Depreciated/Amortized 1,955,395 - (30,265) 1,925,130
Capital Assets, Being Depreciated/Amortized: Buildings and System 746,657 - (59,446) 687,211 Improvements Other Than Buildings 15,204,888 - (5,046,346) 10,158,542 Machinery and Equipment 7,923,449 25,697 (321,121) 7,628,025 Total Capital Assets Being Depreciated/Amortized 23,874,994 25,697 (5,426,913) 18,473,778
Less: Accumulated Depreciation/Amortization for: Buildings and System (377,133) (32,890) 35,177 (374,846) Improvements Other Than Buildings (6,991,065) (368,368) 2,272,223 (5,087,210) Machinery and Equipment (3,396,694) (504,924) 230,230 (3,671,388) Total Accumulated Depreciation/Amortization (10,764,892) (906,182) 2,537,630 (9,133,444) Total Capital Assets, Being Depreciated/ Amortized, Net 13,110,102 (880,485) (2,889,283) 9,340,334
Business-Type Activities Capital Assets, Net$ 15,065,497 $ (880,485) $ (2,919,548) $ 11,265,464
(68) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 4 CAPITAL ASSETS (CONTINUED)
Governmental activities construction in progress is comprised of the following:
Expended to Project September 30, Project Authorization 2012 Commitment Ambulance$ 144,471 $ 72,236 $ 72,235 EOC A/C and Electrical Upgrade 195,000 8,529 186,471 Extend Fiber Optic to EOC 290,000 14,540 275,460 Generators 236,452 156,568 79,884 Infrastructure 30,818,023 16,993,323 13,824,700 Law Enforcement Facility 955,886 955,886 - Multi-Use Path on Memorial & College 1,723,988 997,116 726,872 Refurbish Unit 1 Office 35,000 11,703 23,297 Shell Pit Mitigation 200,000 139,097 60,903 Software 103,627 62,786 40,841 Kenilworth Building Improvements 1,976,749 74,519 1,902,230 Toni Drive Mining Permit 2,412,638 2,277,136 135,502 Total $ 39,091,834 $ 21,763,439 $ 17,328,395
Business-type activities construction in progress is comprised of the following:
Expended to Project September 30, Project Authorization 2012 Commitment Landfill Gas to Energy$ 129,108 $ 54,969 $ 74,139 Leachate Recirculation and Gas Collection Expansion 53,695 36,295 17,400 Total $ 182,803 $ 91,264 $ 91,539
(69) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 4 CAPITAL ASSETS (CONTINUED)
Depreciation and amortization expense was charged to functions/programs of the primary government as follows:
Governmental Activities: General Government$ 1,596,164 Public Safety 2,369,806 Physical Environment 41,449 Transportation 935,241 Human Services 129,769 Economic Environment 24,116 Culture/Recreation 432,401 Court Related 89,150 Total Depreciation/Amortization Expense - Governmental Activities$ 5,618,096
Business-Type Activities: Solid Waste $ 686,273 Energy Recovery 120,303 Highway Park Utility 27,458 Water and Sewer 72,148 Total Depreciation/Amortization Expense - Business-Type Activities$ 906,182
NOTE 5 INTERFUND BALANCES
Interfund balances at September 30, 2012 consisted of the following amounts:
Due To/From Other Funds Due From Due To Other Funds Other Funds Major Funds: General Fund$ 128,114 $ 126,153 Solid Waste Fund 32,835 - Nonmajor Governmental Funds 93,318 128,114 Total$ 254,267 $ 254,267
Amounts due to and from other funds arise from timing differences as a result of transactions and cash transfers for operating purposes.
(70) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 5 INTERFUND BALANCES (CONTINUED)
Advances In 2010, the General Fund advanced a nonmajor governmental fund money for wastewater improvements. The outstanding balance as of September 30, 2012 was $182,588. In 2010, the General Fund advanced a nonmajor governmental fund money for operational cash flow. As of September 30, 2012, the outstanding balance was $8,804. In 2010, the Solid Waste Fund advanced the Energy Recovery Fund money to cover a negative cash position. The outstanding balance as of September 30, 2012 was $279,579. In 2012, the Solid Waste Fund advanced the Energy Recovery Fund money to purchase raw inventory materials. As of September 30, 2012, the outstanding balance was $550,000.
NOTE 6 RESTRICTED ASSETS
Restricted assets include those provided for by resolutions adopted by the Board. Total restricted assets as of September 30, 2012 were as follows:
Cash and Cash Equivalents Governmental Funds: Nonmajor Governmental Funds: Debt Proceeds for Acquisition of Fire Apparatus$ 208,689
Enterprise Funds Solid Waste: Customer Deposits$ 80,375
(71) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 7 LONG-TERM LIABILITIES
The summary of changes in long-term debt for the fiscal year ended September 30, 2012 is as follows:
Balance Balance September 30, September 30, Due Within 2011 Additions Reductions 2012 One year
Governmental Activities: Notes Payable$ 14,228,841 $ 210,000 $ (1,426,795) $ 13,012,046 $ 1,485,151 Revenue Certificates 90,000 - (15,000) 75,000 15,000 Capital Leases 179,374 - (85,813) 93,561 27,347 Compensated Absences 4,605,398 838,220 (770,913) 4,672,705 467,271 Other Post-Employment Benefits 4,327,193 292,142 - 4,619,335 - Less: Deferred Amounts on Refunding (161,738) - 20,009 (141,729) - Governmental Activity Long-Term Liabilities$ 23,269,068 $ 1,340,362 $ (2,278,512) $ 22,330,918 $ 1,994,769
Business-Type Activities: Notes Payable$ 2,188,265 $ - $ (876,671) $ 1,311,594 $ 366,252 Landfill Closure Liability 6,323,738 307,577 - 6,631,315 69,735 Capital Leases 79,877 - (79,877) - - Compensated Absences 99,598 18,458 (20,038) 98,018 9,802 Other Post-Employment Benefits 144,671 6,275 (24,417) 126,529 - Business-Type Activity Long-Term Liabilities$ 8,836,149 $ 332,310 $ (1,001,003) $ 8,167,456 $ 445,789
Compensated Absences Compensated absences represent the vested portion of accrued annual and sick leave. See Note 1 for a summary of the County’s compensated absences policy.
(72) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 7 LONG-TERM LIABILITIES (CONTINUED)
The following notes payable and revenue certificates were outstanding at September 30, 2012:
Remaining Principal Amount Governmental Activities Notes Payable: $153,250 with a fixed interest rate equal to 5.78% dated December 4, 2001 with final payment due September 1, 2016. Beginning March 1, 2002, payments due in equal semiannual installments of approximately $5,108 plus interest, until maturity date, serviced from the Lorida Special Benefit Fire District for the purchase of a fire truck. The note is payable solely from the revenues generated by the service assessment on the lots benefited in the Lorida Special Benefit Fire District. This note does not constitute an indebtedness of Highlands County. $ 40,866
$3,448,637 with a fixed interest rate equal to .82% dated October 3, 2005 with final payment due November 1, 2019. Beginning November 1, 2005, payments due in equal semiannual installments of approximately $123,200 plus interest until maturity date. Serviced from and secured by designated revenues derived from the County’s share of the one cent local discretionary infrastructure sales surtax. The note is to finance a portion of the cost of certain capital improvement projects. 2,057,128
$210,000 with a fixed interest rate equal to 4.61% dated March 29, 2012 with final payment due March 29, 2027. Beginning September 29, 2012, payments are due in equal semiannual installments of approximately $9,528 plus interest, until maturity date, servised from the Desoto City Special Benefit Fire District for the purchase of a fire truck. The note is payable solely from the revenues generated by the service assessment on the lots benefited in the Desoto City Special Benefit Fire District. This note does not constitute an indebtedness of Highlands County. 199,052
$11,890,000 with a fixed interest rate equal to 2.48% dated October 6, 2010 with final payment due November 1, 2019. Interest payments are due on May 1 and November 1. Beginning November 1, 2011, payments are due in annual installments averaging $1,321,111 plus interest until maturity date. Serviced from and secured by designated revenues derived from the County's share of the one cent local discretionary infrastructure sales surtax. 10,715,000 Total Governmental Activities Notes Payable$ 13,012,046
(73) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 7 LONG-TERM LIABILITIES (CONTINUED)
Remaining Principal Amount Business Type Activities Notes Payable: Promissory note - $2,800,000 at 4.44% interest dated December 3, 2002 due in 20 semi-annual installments of $174,854 including interest beginning December 3, 2002, final payment due November 30, 2012, serviced from and secured by net revenues of the Solid Waste System. 168,174 Promissory note - $2,480,388 at 4.39% interest dated May 20, 2009 due in quarterly installments of $88,545 including interest beginning August 8, 2009, final payment due November 8, 2017, serviced from and secured by non-ad valorem revenues of the County. 1,143,420 Total Business Type Activities Notes Payable$ 1,311,594
Remaining Principal Amount Governmental Activities Revenue Certificates:
$300,000 with a floating interest rate equal to 54% of the prime rate dated August 19, 1997 with a final payment due on June 1, 2017. Commencing on December 1, 1997, semi-annual payment of $7,500 in principal plus interest are due until maturity, serviced from the Sun-N-Lake Lake Placid Recreation Special District Fund for the construction of the Recreation Center. The revenue certificate is payable solely from the service assessments on the lots benefited in the Sun-N-Lake Recreation District. This certificate does not constitute an indebtedness of Highlands County. $ 75,000 Total Governmental Activities Revenue Certificates$ 75,000
There are a number of limitations and restrictions contained in the various notes and certificate indentures. The Board is in compliance with all significant limitations and restrictions.
(74) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 7 LONG-TERM LIABILITIES (CONTINUED)
The annual debt service requirements to amortize all debts outstanding as of September 30, 2012 are as follows:
Governmental Activities Year Ending Notes Payable Revenue Certificates September 30, Principal Interest Principal Interest 2013$ 1,485,151 $ 278,405 $ 15,000 3,270 2014 1,530,440 244,537 15,000 2,582 2015 1,571,153 209,760 15,000 1,893 2016 1,612,284 174,151 15,000 1,205 2017 1,648,702 137,728 15,000 516 2018-2022 5,087,780 196,815 - - 2023-2027 76,536 9,218 - - Total$ 13,012,046 $ 1,250,614 $ 75,000 $ 9,466
Business-Type Activities Year Ending Notes Payable September 30, Principal Interest 2013$ 366,253 $ 50,762 2014 206,918 38,125 2015 216,153 28,891 2016 225,799 19,244 2017 235,876 9,167 2018-2022 60,595 665 Total$ 1,311,594 $ 146,854
As a means to lower its borrowing costs, when compared against fixed-rate notes payable at the time of issuance in December 2001, the Lorida Special Benefit Fire District entered into a fixed/float interest rate swap agreement in connection with its notes payable. The intention of the swap was to effectively change the District’s variable interest rate on the note to a synthetic fixed rate of 5.78% against a six-month floating LIBOR (variable, 2.04% plus 67% of the LIBOR rate, adjusted the first day of each March and September).
The terms, including the counterparty credit rating of the outstanding swap as of September 30, 2012 are shown in the table below. The swap agreement contains scheduled reductions to the outstanding notional amounts that are expected to follow scheduled principal reductions in the debt issues.
Related Debt Issue Lorida Special Benefit Fire District Fire Truck Notional Amount $40,867 Effective Date 12/4/2001 Counterparty Bank of America, N. A. Credit Rating (S&P) A Fixed Rate Paid 5.78% Variable Rate Received USD LIBOR BBA Termination Date 9/1/2016
(75) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 7 LONG-TERM LIABILITIES (CONTINUED)
Based on the swap agreement, the District owes interest calculated at a fixed rate to the counterparty (Bank of America). A series of payments calculated by applying a fixed rate of interest to a notional principal amount is exchanged for a stream of payments similarly calculated but using a floating rate of interest based off of the six month US LIBOR. In these fixed-for-floating interest rate swaps, the principal amounts are not actually exchanged between the counterparties, rather, interest payments are exchanged based on “notional amounts” or “notional principals”.
Because interest rates have declined since execution of the swap, the swap had a de minimus negative fair value as of September 30, 2012.
Credit Risk – The County is exposed to credit risk on the swap only when its fair value is positive or an asset. As of September 30, 2012, the District was not exposed to credit risk because the swap had negative fair value. However, should interest rates change and the fair value of the swap become positive, the District would be exposed to credit risk in the amount of the derivative's fair value. The swap counterparty was rated A by Standard & Poor's as of September 30, 2012. In addition, because a swap is a notional principal contract, no credit risk arises in respect of an amount of principal advanced by a lender to a borrower.
Interest Rate Risk – The County is exposed to interest rate risk on its swap. When LIBOR decreases, the County receives a lower payout from the swap, and its net payment on the swap increases.
Termination Risk – The district or the counterparty may terminate the swap if the other party fails to perform under the terms of the contract. The District will be exposed to interest at the lesser of 18% per annum or the maximum lawful rate per annum on the entire principal balance owing in the event of default. Also, if at the time of termination the swap has negative fair value, the district would be liable to the counterparty for payments equal to the fair value of the swap.
(76) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 8 LEASES
Capital Leases The Board has entered into a lease agreement as lessee for financing the acquisition of a fire truck for the Placid Lakes Fire District. This lease qualifies as a capital lease for accounting purposes and, therefore, has been recorded at the present value of the future minimum lease payments as of the inception date.
The asset acquired through capital lease is as follows:
Governmental Activities Assets: Machinery and Equipment$ 255,565 Less: Accumulated Depreciation (106,485) Total$ 149,080
The future minimum lease obligations and the net present value of these minimum lease payments as of September 30, 2012 are as follows:
Year Ending Governmental September 30 Activities 2013$ 31,157 2014 31,157 2015 31,156 2016 7,998 Total Minimum Lease Payment 101,468 Less: Amount Representing Interest (7,907) Present Value of Minimum Lease Payment$ 93,561
(77) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 9 GOVERNMENTAL FUND BALANCES
At September 30, 2012, the County’s governmental fund balances were classified as follows:
Local County Government Nonmajor Total Transportation Infrastructure Governmental Governmental General Trust Surtax Funds Funds Nonspendable: Advances to Other Funds$ 191,392 $ - $ - $ - $ 191,392 Prepaid Items 74,568 - - - 74,568 Inventories 377,415 - - - 377,415 Total Nonspendable 643,375 - - - 643,375
Restricted: General Government - - - 245,820 245,820 Public Safety - - - 4,970,437 4,970,437 Physical Environment - - - 1,682,055 1,682,055 Transportation - 7,365,251 - 3,564,896 10,930,147 Economic Environment - - - 877,093 877,093 Human Services - - - 327,558 327,558 Culture and Recreation - - - 200,333 200,333 Court Related - - - 1,420,240 1,420,240 Infrastructure and Land Acquisition - - 21,961,543 - 21,961,543 Total Restricted - 7,365,251 21,961,543 13,288,432 42,615,226
Assigned: Subsequent Year Expenditures 1,078,004 - - - 1,078,004 Negative Fund Balances - - - (160,506) (160,506) Total Assigned 1,078,004 - - (160,506) 917,498
Unassigned 19,842,464 - - - 19,842,464 Total Fund Balances$ 21,563,843 $ 7,365,251 $ 21,961,543 $ 13,127,926 $ 64,018,563
NOTE 10 PERSONNEL COMMITMENTS
Deferred Compensation Plan The County offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all County employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency.
Effective January 1, 1997, Federal legislation converted the Section 457 deferred compensation assets from County assets to employee assets. As a result of these changes, plan assets are no longer subject to the claims of the County’s general creditors.
(78) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 10 PERSONNEL COMMITMENTS (CONTINUED)
Deferred Compensation Plan (Continued) The County had previously reported the assets and associated liabilities of the deferred compensation plan in its financial statements as an agency fund. Effective with the change in legislation, these assets are no longer County assets and fiduciary responsibility has been transferred to the third party plan administrator. Consequently, these assets are no longer reported in the accompanying financial statements in compliance with Governmental Accounting Standards Board Statement No. 32.
The County is obligated to make available to qualified retired employees the option to maintain coverage with the group health, life and dental insurance plans.
Postemployment Health Care Benefits Effective for the 2007 – 2008 fiscal year, Highlands County implemented Governmental Accounting Standards Board Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pension, for certain postemployment health benefits provided by the County. The requirements of this Statement are being implemented prospectively, with the actuarially determined liability of $11,126,851 at the October 1, 2007 date of transition amortized over 30 years.
Accordingly, for financial reporting purposes, no liability is reported for postemployment health care benefits liability at the date of transition.
Plan Description – The Postemployment Health Care Benefits Plan is a single-employer defined benefit plan administered by the County. Pursuant to the provisions of Section 112.0801, Florida Statutes, former employees and eligible dependents who retire from the County may continue to participate in the County’s self-funded health and hospitalization plan for medical, prescription drug and dental coverage. The County subsidizes the premium rates paid by retirees by allowing them to participate in the plans at reduced or blended group (implicitly subsidized) premium rates for both active and retired employees. These rates provide an implicit subsidy for retirees because, on an actuarial basis, their current and future claims are expected to result in higher costs to the plan on average than those of active employees. Retirees are required to enroll in the Federal Medicare program for their primary coverage as soon as they are eligible. The plan does not issue a publicly available financial report.
Funding Policy – For the Postemployment Health Care Benefits Plan, contribution requirements of the County are established and may be amended through the County. The County has not advanced-funded or established a funding methodology for the annual Other Postemployment Benefit (OPEB) costs or the net OPEB obligation. For the 2011-2012 fiscal year the County contributed $125,000 towards annual OPEB costs, comprised of estimated benefit payments made on behalf of retirees for claims, retention costs, and net of retiree contributions totaling $515,201. Required contributions are based on projected pay-as-you- go financing.
(79) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 10 PERSONNEL COMMITMENTS (CONTINUED)
Postemployment Health Care Benefits (Continued) Annual OPEB Cost and Net OPEB Obligation – The following table shows the County’s annual OPEB cost for the year, the amount actually contributed to the plan, and the changes in the County’s net OPEB obligation:
Fiscal Year Ending September 30, 2012 Normal Cost $ 266,000 Amortization of Unfunded Accrued Liability 136,000 Annual Required Contribution 402,000 Interest on Net OPEB Obligation (NOO) 157,000 Amortization of NOO (160,000) Total Expense or Annual OPEB Cost (AOC) 399,000 Actual Credit/(Contribution) Toward OPEB Cost (125,000) Increase in NOO 274,000 NOO Beginning of Year 4,471,864 NOO End of Year$ 4,745,864
The County’s historical annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB obligation are as follows:
Percent of AOC Fiscal Year AOC Contribution Contribution NOO 9/30/2010$ 1,030,727 $ 228,132 22.1%$ 3,536,137 9/30/2011 1,103,607 167,879 15.2% 4,471,865 9/30/2012 399,000 125,000 31.3% 4,745,864
Funded Status and Funding Progress – As of September 30, 2012, the actuarial accrued liability for benefits was $3,822,000, and the actuarial value of assets was $-0-, resulting in an unfunded actuarial accrued liability of $3,822,000. The covered payroll (annual payroll for active participating employees) was $28,174,718 for the 2011 – 2012 fiscal year, and the ratio of the unfunded actuarial accrued liability to the covered payroll was 13.6%.
(80) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 10 PERSONNEL COMMITMENTS (CONTINUED)
Postemployment Health Care Benefits (Continued) Actuarial Methods and Assumptions – Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment and termination, mortality, and the healthcare cost trends. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. Projection of benefits for financial reporting purposes are based on the substantive plan provisions, as understood by the employer and participating members, and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and participating members. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations.
The County’s OPEB actuarial valuation for the 2011 – 2012 fiscal year used the projected unit credit method to estimate the unfunded actuarial liability and to determine the annual required contribution. The actuarial assumptions included a discount rate of 3.5%. This rate is an unfunded discount rate. For governments that do not establish an irrevocable OPEB trust, the discount rate is based on the long term expected rate of return on internal funds. The actuarial assumptions also include a payroll increase rate is 3.5% per year and a medical trend initial rate of 8.0%, decreasing gradually to 5.00% in 2050. The liabilities are being amortized over a closed 29 year period as a level of percentage of payroll.
NOTE 11 LANDFILL CLOSURE AND POSTCLOSURE CARE COST
Highlands County has three landfill sites which are comprised of a total of 14 cells, four of which are currently in operation. State and Federal laws and regulations require the County to place a final cover on the four cells currently in use when they are closed and to perform maintenance and monitoring functions for all landfill sites for thirty years after closure. Landfill operations and landfill closure and postclosure care costs are accounted for in the Solid Waste Enterprise Fund. Although closure and postclosure care costs will be paid only near or after the date the landfill stops accepting waste, the County reports as a liability a portion of closure and postclosure care costs based on landfill capacity used as of the balance sheet date. The landfill closure and postclosure care liability of $6,631,315 at September 30, 2012 represents the cumulative amount reported to date based on an average use of 43% of the total estimated capacity. The portion of the liability related to 2012 usage is an increase of $307,577. It is estimated that an additional liability totaling $8,741,809 for Arbuckle Creek Cell 1A, 1B, Cell 3, Arbuckle Creek Cell C&D and Arbuckle Creek Cell AG will be recognized between the balance sheet date and the dates these cells will be filled to capacity in the years 2024, 2024, 2024, 2015 and 2099, respectively. Actual costs may differ due to inflation, changes in technology or changes in landfill laws and regulations.
(81) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 11 LANDFILL CLOSURE AND POSTCLOSURE CARE COST (CONTINUED)
The County is required by State and Federal laws and regulations to make annual contributions to a landfill management escrow account to finance closure and postclosure care financial assurance requirements. The County is in compliance with these requirements at September 30, 2012 with cash and investments of $6,262,866 held for these purposes. The County expects that future inflation costs will be paid from future contributions and interest earnings on these contributions. In the event closure escrows and interest earnings prove inadequate due to higher than expected inflation, changes in technology or changes in laws or regulations, these costs may need to be financed by future landfill users or future tax revenue.
NOTE 12 MISCELLANEOUS REVENUE
Miscellaneous revenue included in the Governmental Funds for the fiscal year ended September 30, 2012 consists of the following:
Local County Government Other Transportation Infrastructure Governmental General Trust Surtax Funds Reimbursements$ 568,675 $ 1,167,741 $ 74,648 $ 12,000 Insurance Surplus 43,508 32,118 194,575 3,109 Tourist Development - - - 2,000 Commissions on Inmate Phone Calls - - - 419,585 Other 435,425 159,269 2,088 298,885 Total$ 1,047,608 $ 1,359,128 $ 271,311 $ 735,579
NOTE 13 MAJOR CUSTOMERS
A significant amount of the Solid Waste Fund revenue for 2012 is derived from one major customer as follows:
Percentage of Total Revenue
Choice Environmental Services 24%
The Solid Waste Fund revenue is comprised of charges for services to residential and commercial customers and a special non-ad valorem assessment of $130 per property owner.
(82) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 14 CONTINGENT LIABILITIES
The County is currently receiving, and has received in the past, grants which are subject to special compliance audits by the grantor agency and which may result in disallowed expenditure/expense amounts. These amounts, if any, constitute a contingent liability of the County. Accordingly, such liabilities are not reflected within the financial statements. Management does not believe the effects of contingent liabilities, if any, will be material to the financial statements.
The County is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of legal counsel for the County, the resolution of these matters will not have a materially adverse affect on the financial condition of the County.
NOTE 15 RISK MANAGEMENT
Risk Retention Fund The County is exposed to various risks of loss related to torts, theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disaster.
Between October 1, 1994 and March 31, 2009, the Board was a member of Public Risk Management (PRM), formerly known as Southwest Florida Intergovernmental Risk Management Association, a local government liability risk pool. PRM administers insurance activities relating to property; general, automobile and public officials' liability; workers' compensation; and auto physical damage. PRM absorbed losses up to a specified amount annually and purchased excess and other specific coverage from third-party carriers.
Transactions related to activities between the Board and PRM are presented within the Risk Retention Internal Service Fund. All funds of the County participated in the program and made payments to the Risk Retention Fund. As of September 30, 2012 all open claims and/or litigation have been closed and all reserves have been paid; and the remaining balance of $2,236,696 was transferred to the General Fund.
Insurance Fund Effective April 1, 2009, the County became a member of Preferred Governmental Insurance Trust (PGIT), a governmental insurance carrier. PGIT administers insurance activities relating to property, general liability, public official’s and employment practices liability, automobile, crime, and worker’s compensation. The County is liable for deductible on certain coverages. PGIT meets the GASB Statement No. 10 guidelines for governmental entity pools and provides audited financial statements annually. Transactions related to activities related to PGIT are presented within the Insurance Internal Service Fund.
(83) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 15 RISK MANAGEMENT (CONTINUED)
Employee Benefit Fund On October 1, 1977, the County established the Employee Benefit Fund which was formerly an expendable trust fund. In 1989, the County transferred its assets, liabilities and fund equity to an internal service fund. This fund was created to self-insure County employees and their dependents for group medical costs. Medical claims are paid from premiums generated by employees’ dependents and contributions by the County. Premiums and contributions are determined by projected losses based on historical claims experience.
Effective October 1, 2001, the County obtained private insurance and discontinued its self- insurance plan for health insurance; however, the County continued its self-insurance plan for dental costs.
Dental claim liabilities are recorded when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated, including an estimate for claims incurred but not reported. This estimate is based on historical experience and current trends and it is computed by an actuarial firm. The claims liability for estimated dental claims payable as of September 30, 2012 is $21,685.
Dental claims are adjudicated by a third party administrator under contract.
The following table shows the changes in aggregate liabilities for dental claims for the past two fiscal years:
Fiscal Beginning Incurred Ending Year Balance Claims Payments Balance 2011$ 25,770 $ 198,905 $ 198,905 $ 25,770 2012 25,770 200,016 204,101 21,685
NOTE 16 RETIREMENT PLAN
Substantially all full-time employees are participants in the Florida Retirement System (the System), a multiple-employer, cost-sharing public retirement system. The System, which is controlled by the State Legislature and administered by the State of Florida, Department of Administration, Division of Retirement, covers approximately 655,367 full-time employees of various governmental units within the State of Florida.
For employees enrolled prior to July 1, 2011, the System provides for vesting of benefits after six (6) years of creditable service. Normal retirement benefits are available to regular employees who retire at or after age 62 with six (6) or more years of service. Early retirement is available after six (6) years of service with a 5% reduction of benefits for each year prior to the normal retirement age. Retirement benefits are based upon age, average compensation and years of service credit where average compensation is computed as the average of an individual’s five (5) highest years of earnings.
(84) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 16 RETIREMENT PLAN (CONTINUED)
For employees enrolled in the System on or after July 1, 2011, vesting of benefits begins after eight (8) years of creditable service. Normal retirement benefits are available to these employees who retire at or after age 65 with eight (8) or more years of service with a 5% reduction of benefits for each year prior to the normal retirement age. Retirement benefits are based upon age, average compensation and years of service credit where average compensation is computed as the average of an individual’s eight (8) highest years of earnings.
Effective with the State fiscal year 2002, the State created a new retirement plan within the System: the Public Employee Optional Retirement Program (the FRS Investment Plan). Any regular member not in the Deferred Retirement Option Program (DROP) is eligible to participate in the FRS Investment Plan. Employer contributions are made to the FRS Investment Plan, which holds the contributions in individual investment accounts for each participating employee. The employee directs the investment funds available through the Plan. Investment accounts vest after one (1) year of service and may be withdrawn by the employee 90 days after termination or retirement from a participating employer in the System. Alternately, the funds may remain in the investment account until the employee reaches normal retirement age or some earlier date, at the employee’s choosing.
The County has no responsibility to the System other than to make the periodic contributions required by state statutes. The Florida Division of Retirement issues a publicly available financial report that includes financial statements and required supplementary information for the System. The report may be obtained by writing the Florida Division of Retirement, 2639 Monroe Street, Building C, Tallahassee, FL 32399-1560.
Participating employer contributions are based upon statewide rates established by the State of Florida. These rates, which include the health insurance subsidy contribution of 1.11% and the 0.03% administrative/educational fee, were applied to employee salaries as follows: regular employees, 4.91% and 10.77%; DROP employees, 4.42% and 12.25%; senior management, 6.27% and 14.57%; special risk, 14.10% and 23.25%; and elected officials, 11.14% and 18.64%; for the System years ended June 30, 2012 and 2011, respectively. Effective July 1, 2012, the rates were changed as follows: regular employees, 5.18%; DROP employees, 5.44%; senior management, 6.30%; special risk, 14.90%; and elected officials, 10.23%. In addition, all employees (except for those in DROP) were required to make contribution of 3% on a pretax basis, deductible from their gross salaries for each payroll beginning in July 2011. The County’s contributions made during the years ended September 30, 2012, 2011, and 2010 were $3,178,519, $5,007,191, and $5,359,852, respectively, equal to the actuarially determined contribution requirements for each year.
(85) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 17 FUND BALANCE DEFICIT
Special Revenue Funds Sebring Hills Special Benefit District – The fund balance deficit of $2,721 resulted from expenditures exceeding assessment collections in fiscal year 2010. The district’s assessment was increased in fiscal year 2010 – 2011 which reduced the deficit from prior years. The deficit is gradually being reduced.
Home Initiatives Partnership – The fund balance deficit of $56,213 resulted from expenditures being charged to the fund which had not been reported to the grantor agency for reimbursement. The County intends to draw down these funds from the State in fiscal year 2012-2013.
Thunderbird Hill Waste Water Special Benefit District – The fund balance deficit of $101,572 is a result of an arms length transaction loan that was initiated to pay the City of Sebring for improvements needed with the City taking over the Landmark Utility System. The $200,000 General Fund loan is being paid back with the assessments collected from this district.
NOTE 18 INTERFUND TRANSFERS
Transfers for the year ended September 30, 2012, consisted of the following:
Transfers to the General Fund from: Nonmajor Governmental Funds$ 502,839 Internal Service Funds 2,236,696 Total 2,739,535
Transfers to the Local Government Infrastructure Surtax Fund from: Nonmajor Governmental Funds 2,456
Transfers to the County Transportation Trust Fund from: Nonmajor Governmental Funds 10,000 Transfers to Nonmajor Governmental Funds from: General Fund 773,805 Local Government Infrastructure Surtax Fund 54,378 Nonmajor Governmental Funds 724 Total 828,907 Total Interfund Transfers$ 3,580,898
Transfers are used to: 1) move revenues from the fund that state law requires to collect them to the fund that state law requires to expend them; 2) provide matching funds for grants; and 3) use unrestricted General Fund and other fund revenues to finance transportation or other activities which must be accounted for in another fund.
(86) HIGHLANDS COUNTY, FLORIDA NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2012
NOTE 19 TRANSFER OF UTILITY OPERATIONS TO MUNICIPALITY
Operations of the Highway Park Utility Fund were transferred to the Town of Lake Placid on June 1, 2012 through an Interlocal agreement. Substantially all of the assets and certain liabilities of the utility at June 1, 2012 were assumed by the Town of Lake Placid.
Operations of the Water and Sewer Fund were transferred to the Town of Lake Placid on June 1, 2012 through an Interlocal agreement. Substantially all of the assets and certain liabilities of the utility at June 1, 2012 were assumed by the Town of Lake Placid.
(87) HIGHLANDS COUNTY, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION MODIFIED APPROACH FOR INFRASTRUCTURE ASSETS YEAR ENDED SEPTEMBER 30, 2012
Condition Rating of Highlands County Roadway System
Overall Minimum Average Condition Level (Fair Condition 51 – 75)
FY 2010 FY 2011 FY 2012 Road System 56.63 58.26 59.97
Comparison of Estimated to Actual Maintenance/Preservation
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Budgeted$ 1,217,961 $ 2,554,030 $ 2,333,590 $ 2,844,812 $ 3,199,703 Actual 1,133,093 1,915,998 1,512,499 2,504,051 2,827,440
The condition of a road segment is measured using the Road Evaluation Standards Version 1 (RES) that is based on weighted averages or distress factors of the pavement surface. The RES system uses a measurement scale to evaluate the Pavement Condition Level (PCL) ranging from zero for a failed pavement to 100 for pavement in perfect condition. The PCL index is used to classify road segments in good condition (76–100), fair condition (51-75), poor condition (26-50), and needs reconstruction (25 or below). An overall minimum average condition level is then determined from the individual road segments and the total lane miles of roads. It is the County’s policy to maintain the road system at an overall minimum average condition level not less than 45. Road segment condition is determined annually for all arterial roads and all of the local roads are inspected annually.
Condition Rating of Highlands County Bridge System
Overall Average Sufficiency Rating
FY 2010 FY 2011 FY 2012 Bridge System 76.90 84.85 75.93
Comparison of Estimated to Actual Maintenance/Preservation FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 Budgeted$ 137,200 $ 150,000 $ 150,000 $ 150,000 $ 150,000 Actual 133,968 54,762 52,760 24,445 41,502
The condition of the County’s bridges is determined using the inspection program that follows state mandates and regulations. The bridge sufficiency rating is a weighted average of an assessment of the ability of individual components to meet necessary performance requirements and uses a numerical condition scale ranging from 0 to 100. It is the County’s policy to maintain an overall minimum average sufficiency rating for the County maintained bridges of not less than 60%.
(88) HIGHLANDS COUNTY, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION POSTEMPLOYMENT BENEFITS OTHER THAN PENSION YEAR ENDED SEPTEMBER 30, 2012
Schedule of Funding Progress Unfunded Unfunded Actuarial Actuarial Actuarial Actuarial as a Percent Valuation Value of Accrued Accrued Funded Covered of Covered Date Assets Liability Liability Ratio Payroll Payroll 9/30/2010$ - $ 8,261,191 $ 8,261,191 0%$ 35,432,809 23.3% 9/30/2011 - 9,033,802 9,033,802 0% 33,032,550 27.3% 9/30/2012 - 3,822,000 3,822,000 0% 28,174,718 13.6%
(89) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) REVENUES Taxes$ 32,665,958 $ 32,665,958 $ 33,057,906 $ 391,948 Licenses and Permits 18,000 18,000 17,179 (821) Intergovernmental 11,779,759 12,019,361 12,138,231 118,870 Charges for Services 5,187,687 5,288,392 5,832,831 544,439 Fines and Forfeitures 83,500 83,500 100,318 16,818 Net Change in Fair Value of Investments 81,500 111,555 351,035 239,480 Miscellaneous 1,137,000 1,175,540 1,047,608 (127,932) Total Revenues 50,953,404 51,362,306 52,545,108 1,182,802
EXPENDITURES Current: General Government: Board of County Commissioners 342,487 342,487 313,770 28,717 County Administrator 474,982 479,881 477,726 2,155 Clerk to Board-Financial and Administration 2,380,485 2,466,535 2,394,219 72,316 County Audits-CPA 216,070 247,420 215,534 31,886 Office of Management and Budget 420,460 418,815 325,837 92,978 Human Resources 409,290 427,888 328,708 99,180 Non-Ad Valorem Assessments 22,754 33,299 28,633 4,666 Public Information 34,353 35,372 29,897 5,475 Central Services 1,108,749 1,272,716 1,185,007 87,709 Property Appraiser 2,607,814 2,607,814 2,471,425 136,389 Tax Collector 2,314,369 2,414,369 2,093,096 321,273 Supervisor of Elections 944,160 988,350 753,409 234,941 Purchasing 379,131 393,701 320,350 73,351 County Attorney 300,000 390,509 349,891 40,618 County Planning and Development 798,101 780,310 522,950 257,360 Clerk to Board - Other General Government Services 712,047 626,999 624,069 2,930 Facilities Management 1,744,233 1,872,694 1,666,850 205,844 Total General Government 15,209,485 15,799,159 14,101,371 1,697,788
Public Safety: Sheriff 13,622,645 14,435,528 14,392,565 42,963 Fire Department 78,000 78,912 74,594 4,318 County Fire Coordinator 552,049 560,918 475,637 85,281 Division of Forestry 35,935 35,935 35,179 756 County Jail Maintenance 641,445 678,658 647,362 31,296 Detention and Correction 8,194,640 8,203,202 8,133,740 69,462 Detention Medical 990,000 934,910 730,681 204,229 Detention & Corrections Other 129,167 - - - Law Enforcement Maintenance 115,000 121,890 105,252 16,638 Law Enforcement Other 432,391 19,990 - 19,990 Zoning Department 624,068 631,278 516,837 114,441 Local Emergency Management Agency 577,398 854,249 482,965 371,284 Communications Program 472,838 523,413 424,434 98,979 Information Technology 65,278 65,278 47,375 17,903 Ambulance Services 4,987,833 5,021,299 4,707,611 313,688 Medical Examiner 267,489 272,889 272,794 95 Emergency/Disaster Relief - 140,000 81,224 58,776 Children's Advocacy Center 142,792 169,671 156,667 13,004 Total Public Safety 31,928,968 32,748,020 31,284,917 1,463,103 (90) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) EXPENDITURES (CONTINUED) Current (Continued): Physical Environment: County Extension 209,139 215,365 164,947 50,418 Natural Resources 247,852 771,393 516,074 255,319 Aquatic Plant Program 546,793 483,238 396,912 86,326 Nuisance Abatement 92,600 101,775 83,548 18,227 Total Physical Environment 1,096,384 1,571,771 1,161,481 410,290
Transportation: Avon Park Airport 23,735 23,735 23,735 - Avon Park Southside 25,195 25,195 25,195 - Total Transportation 48,930 48,930 48,930 -
Economic Environment: Industrial Development Authority 239,401 239,401 239,401 - Community Redevelopment - Sebring 453,792 453,792 453,792 - Community Redevelopment - Avon Park 89,460 89,460 89,460 - Sebring Regional Airport/Industrial Park 355,811 355,811 355,811 - Veteran Service Office 164,420 172,210 141,235 30,975 Community Housing Program 50,255 30,809 8,111 22,698 Total Economic Environment 1,353,139 1,341,483 1,287,810 53,673
Human Services: Health Care Responsibility Act 395,144 272,544 121,975 150,569 Health Unit 243,000 243,000 243,000 - Animal Control 483,913 504,826 500,835 3,991 Mental Health 436,617 436,617 436,617 - Public Assistance Programs 125,964 153,214 124,058 29,156 State County Assistance Program 850,000 972,600 972,549 51 Human Services - Project Hope 29,250 29,250 29,250 - Children's Services Council 48,250 48,250 48,192 58 Transportation for Disadvantaged 70,729 70,729 55,937 14,792 Community Program Services 105,297 105,297 103,570 1,727 Healthy Families Grant 205,521 203,288 196,255 7,033 Total Human Services 2,993,685 3,039,615 2,832,238 207,377
Culture and Recreation: Library - Avon Park 159,081 159,814 129,557 30,257 Library - Sebring 263,976 384,201 322,860 61,341 Library - Lake Placid 153,946 169,154 151,838 17,316 Libraries - Countywide 204,697 219,971 206,939 13,032 Recreation Department 330,000 330,000 330,000 - Parks Department 679,194 685,504 627,059 58,445 Parks Administration 147,929 159,270 155,135 4,135 Sports Complex 198,034 240,937 180,573 60,364 Historic District Site Survey 1,550 2,050 500 1,550 Heartland Library Cooperative 225,033 225,033 224,233 800 Total Culture and Recreation 2,363,440 2,575,934 2,328,694 247,240
(91) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL GENERAL FUND (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) EXPENDITURES (CONTINUED) Current (Continued): Court Related: Court General Administration: Circuit Court Administration 4,000 4,483 3,377 1,106 County Court Administration 2,348 2,348 939 1,409 State Attorney 15,700 16,231 4,251 11,980 Public Defender 4,950 4,950 3,174 1,776 Law Library 84,037 96,000 94,853 1,147
Circuit Court Criminal: Pre-Trial Release - 67,000 66,265 735
Circuit Court Juvenile: Circuit Court Juvenile Guardian Ad Litem 1,340 1,340 789 551
Court General Operations: General Operations Courthouse Security 839,326 866,565 866,564 1 General Operations Courthouse Facilities 259,207 273,843 248,132 25,711 Total Court Related 1,210,908 1,332,760 1,288,344 44,416
Debt Service: Principal Retirement 59,629 59,629 59,629 - Interest and Fiscal Charges 819 819 819 - Total Expenditures 56,265,387 58,518,120 54,394,233 4,123,887
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (5,311,983) (7,155,814) (1,849,125) 5,306,689
OTHER FINANCING SOURCES (USES) Transfers In 48,060 48,060 2,739,535 2,691,475 Transfers Out (895,238) (844,383) (773,805) 70,578 Total Other Financing Sources (Uses) (847,178) (796,323) 1,965,730 2,762,053
NET CHANGE IN FUND BALANCE (6,159,161) (7,952,137) 116,605 8,068,742
Fund Balance, October 1, 2011 6,159,161 7,952,137 21,447,238 13,495,101
FUND BALANCE, SEPTEMBER 30, 2012 $ - $ - $ 21,563,843 $ 21,563,843
(92)
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES
HIGHLANDS COUNTY, FLORIDA NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS
Special Revenue Funds account for revenues from specific taxes or other earmarked revenue sources which, by law, are designated to finance particular functions or activities of government which include special benefit districts that account for the cost of street lighting, paving and maintaining streets, water control, fire protection, and recreation within certain benefit areas (districts) of the County. The purpose of the individual funds is depicted as follows:
Lake Placid Sun-N-Lake Estates Fire District - To account for assessments relating to fire protection.
DeSoto City Special Benefit Fire District - To account for assessments relating to fire protection.
Orange Villa Special Benefit District - To account for assessments relating to recreation and street lighting.
Hickory Hills Special Benefit District - To account for assessments relating to street maintenance and recreation.
Placid Lakes Special Benefit District - To account for assessments relating to maintenance of recreational areas, cleaning canals and fire protection, etc.
Sebring County Estates Special Benefit District - To account for assessments relating to street lighting.
Istokpoga Marsh Watershed Improvement District - To account for assessments relating to water control and improvements.
Avon Park Estates Special Benefit District - To account for assessments relating to street maintenance.
Highlands Lakes Special Tax District - To account for assessments relating to fire protection.
Highlands Park Special Benefit Fire District - To account for assessments relating to fire protection.
Highlands Park Estates Improvement Trust - To account for funds available for street maintenance.
Leisure Lakes Special Benefit Fire District - To account for assessments relating to fire protection.
Sebring Hills Special Benefit District - To account for assessments relating to street lighting.
Red Hill Farms Improvement District - To account for assessments relating to constructing road and drainage facilities.
E911 Emergency Operations - To account for the ongoing fiscal activity relating to the collection and use of the $.50 user fee for the E911 emergency telephone number system.
(93) HIGHLANDS COUNTY, FLORIDA NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS (CONTINUED)
Hospital District – To account for revenues used exclusively for health services in Highlands County.
Orange Blossom Estates Special Benefit District - To account for assessments relating to constructing roads and drainage facilities.
Sun-N-Lake Lake Placid Recreation District - To account for assessments relating to recreation and street lighting.
Conservation Trust - To account for operations relating to land preservation.
Intergovernmental Radio Communications - To account for the additional surcharge, up to $12.50 for each moving traffic violation, to assist in funding the County's participation in the intergovernmental radio communication program approved by the Division of Communications of the Department of Management Services.
Sebring Acres Special Benefit District - To account for assessments relating to road construction, drainage and maintenance.
Orange Blossom (Unit 12) Special Benefit District - To account for assessments relating to road and rights-of-way maintenance.
Lake Haven Estates Special Benefit District - To account for assessments relating to street lighting.
Lorida Special Benefit Fire District - To account for assessments relating to fire protection.
Lake Placid Special Benefit Fire District - To account for assessments relating to fire protection.
Law Enforcement Education - To account for a $2 court cost added to all fines and forfeitures. These monies can only be used for approved education and training of law enforcement, correctional and administrative personnel per s 318.18(11)(d) and s 938.15, FS.
Building Code Enforcement - To account for operations of the building department. Financing is provided primarily from building department permits and fees.
Florida Boating Improvement - To account for the operation and maintenance of County boat ramps.
Special Law Enforcement Trust - To account for the sale of confiscated property. These monies are used for the purchase of equipment and materials to be used in specialized law enforcement activities as well as to defray the cost of protracted or complex investigations.
Highway Park Special Benefit District - To account for assessments relating to street maintenance.
Community Development Block Grant - To account for revenues and expenditures of community development block grant projects.
(94) HIGHLANDS COUNTY, FLORIDA NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS (CONTINUED)
Affordable Housing Assistance Trust – To account for the revenues and expenditures of the State Housing Initiatives Partnership which aids low income persons seeking housing loans.
Sun-N-Lakes 1-20 Improvement Trust - To account for funds available for the construction of drainage and paved streets.
Highlands Park Estates Special Benefit District - To account for assessments relating to facilities and improvements.
Development Transportation Improvement - To account for grants-in-aid of construction for Wolf Creek Development and Vizcaya Lakes Development.
West Sebring Special Benefit Fire District - To account for assessments relating to fire protection.
Driver Education Safety Trust - To account for funds for driver education programs in schools of Highlands County per s 318.1215 FS.
Tourist Development Trust - To account for the expenditure of tax revenues collected to promote and assist tourism in Highlands County, Florida.
Domestic Violence Training - To account for a domestic violence surcharge used to defray the costs of incarcerating persons sentenced under s 938.08 FS and provide additional training to law enforcement personnel in combating domestic violence.
Fire Inspection and Safety - To account for fees collected to be used for paying the cost of inspections conducted pursuant to s 633.081(1) FS and related administrative expenses and to account for fire safety enforcement fees and fire safety program fees collected and appropriated for these purposes.
Venus Special Benefit Fire District - To account for assessments relating to fire protection.
Sebring Parkway Maintenance - To account for the costs associated with the interlocal agreement (07/01/03) with the City of Sebring for maintenance of the Sebring Parkway.
State Court Facilities Trust Fund - To account for the surcharge imposed per s 318.18(13) FS that shall be used to fund state court facilities.
Innovations and Supplemental Courts Funding Trust Fund - To account for the additional court cost imposed by s 939.185 FS used to fund innovations to supplement state funding for the elements of the state court system identified in s 29.004 FS and county funding for local requirements under s 29.008(2)(a)2 FS.
Crime Prevention - To account for the court cost imposed per s 775.083(2) FS for crime prevention programs in the county, including safe neighborhood programs.
(95) HIGHLANDS COUNTY, FLORIDA NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS (CONTINUED)
Court Technology 28.24(12)(E)1 - To account for recording fees used to fund court related technology and court technology needs for the state trial courts, state attorney and public defender in the county.
Court - To account for IV-D reimbursements, Child Support activity and bond estreature activity.
Hurricane Housing Trust - To account for funds available through the Hurricane Housing Recovery Program under the State Housing Initiatives Partnership Act.
Home Initiatives Partnership - To account for HUD funds to be used for housing rehabilitation, tenant based rental assistance, assistance to home buyers, acquisition of housing, and new construction of housing.
Placid Lakes Fire District - To account for assessments for fire protection.
Public Records Modernization Trust - To account for the additional service charges on recorded instruments for modernizing the official record keeping systems in the Clerk’s office per s 28.24(12)(d) FS.
Teen Court Operations - To account for assessment of mandatory court costs for the operation and administration of the Highlands County Teen Court Program per s 939.19 FS.
Court Related Technology Modernization Trust - To account for the recording fees used to fund court related technology information needs for the Clerk of Courts.
Court Operations Modernization Trust - To account for retainage of 10% of all court-related fines collected by the Clerk to be used exclusively for additional Clerk court-related operation needs and program enhancements.
Court Services (120) - To account for state appropriated court related operations.
Court Services (121) - To account for state appropriated court related operations.
Community Donations - To account for public donations received by the Sheriff’s Office.
Inmate Welfare - To account for the commissary operated at the County jail. Revenues are provided by sales of products such as candy, cigarettes, toothpaste, etc., to the inmates. Profits from these sales can only be spent on educational and vocational training for the inmates.
Affordable and Workforce Trust - To account for a permanent endowment and a continually renewable source of funds to meet, in part, the need for Affordable and Workforce Housing in the County pursuant to County Resolution no. 07-08-163 and Section 4.08 of the Highlands County Impact Fee Ordinance.
(96) HIGHLANDS COUNTY, FLORIDA NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS (CONTINUED)
Impact Fee Transportation Avon Park - Pursuant to County Ordinance 05-06-44, transportation impact fees are collected by the County based on the transportation impact of new development.
Impact Fee Transportation Lake Placid - Pursuant to County Ordinance 05-06-44, transportation impact fees are collected by the County based on the transportation impact of new development.
Impact Fee Transportation Sebring - Pursuant to County Ordinance 05-06-44, transportation impact fees are collected by the County based on the transportation impact of new development.
Impact Fee Parks and Recreation Avon Park - Pursuant to County Ordinance 05-06-44, parks and recreation impact fees are collected by the County to provide growth-necessitated capital improvements in the area of parks and recreation.
Impact Fee Parks and Recreation Lake Placid - Pursuant to County Ordinance 05-06-44, parks and recreation impact fees are collected by the County to provide growth-necessitated capital improvements in the area of parks and recreation.
Impact Fee Parks and Recreation Sebring - Pursuant to County Ordinance 05-06-44, parks and recreation impact fees are collected by the County to provide growth-necessitated capital improvements in the area of parks and recreation.
Impact Fee Correctional Facilities - Pursuant to County Ordinance 05-06-44, correctional facility impact fees are collected by the County to provide growth-necessitated capital improvements in the area of correctional facilities.
Impact Fee Fire - Pursuant to County Ordinance 05-06-44, fire services impact fees are collected by the County to accommodate new development without decreasing the current level of fire services.
Impact Fee Libraries - Pursuant to County Ordinance 05-06-44, library services impact fees are collected by the County to accommodate new development without decreasing the current level of library services.
Impact Fee Law Enforcement - Pursuant to County Ordinance 05-06-44, law enforcement impact fees are collected by the County to provide growth-necessitated capital improvements in the area of law enforcement.
Impact Fee Emergency Medical Services - Pursuant to County Ordinance 05-06-44, emergency medical services impact fees are collected by the County to provide growth- necessitated capital improvements in the area of emergency medical services.
Thunderbird Hill Wastewater Special Benefit District - To account for assessments relating to financing the upgrade, construction and operations of the wastewater infrastructure for the Thunderbird Hills area.
(97) HIGHLANDS COUNTY, FLORIDA NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS (CONTINUED)
CAPITAL PROJECTS FUND
HCISSRB Construction - These funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities and infrastructure projects (other than those financed by proprietary funds).
(98) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS SEPTEMBER 30, 2012
Special Revenue Funds
Lake Placid DeSoto Orange Hickory Sun-N-Lake City Villa Hills Estates Special Special Special Fire Benefit Benefit Benefit District Fire District District District ASSETS Cash and Cash Equivalents$ 285,379 $ 80,283 $ 2,904 $ 17,859 Restricted Cash - 208,689 - - Investments - - - - Accounts Receivable - Net - - - - Due from Other Funds 1,250 1,294 10 17 Due from Other Governmental Units 493 173 - - Total Assets$ 287,122 $ 290,439 $ 2,914 $ 17,876
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ 2,233 $ 5,031 $ 135 $ 89 Accrued Wages Payable 1,408 1,338 - - Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - - Advances from Other Funds - - - - Deferred Revenue - - - - Total Liabilities 3,641 6,369 135 89
Fund Balances: Restricted 283,481 284,070 2,779 17,787 Unassigned - - - - Total Fund Balances 283,481 284,070 2,779 17,787
Total Liabilities and Fund Balances$ 287,122 $ 290,439 $ 2,914 $ 17,876
(99)
Special Revenue Funds Sebring Istokpoga Avon Highlands Placid Country Marsh Park Highlands Park Lakes Estates Watershed Estates Lakes Special Special Special Improve- Special Special Benefit Benefit Benefit ment Benefit Tax Fire District District District District District District
$ 515,219 $ 56,823 $ 594,044 $ 909,350 $ 293,480 $ 135,719 ------6 - - - - 1,190 142 530 641 1,523 342 354 - - 43 16 38 $ 516,763 $ 56,971 $ 594,574 $ 910,034 $ 295,019 $ 136,099
$ 6,991 $ 1,659 $ 10,475 $ 684 $ 2,646 $ 650 - - - - 1,303 ------6,991 1,659 10,475 684 3,949 650
509,772 55,312 584,099 909,350 291,070 135,449 ------509,772 55,312 584,099 909,350 291,070 135,449
$ 516,763 $ 56,971 $ 594,574 $ 910,034 $ 295,019 $ 136,099
(100) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) SEPTEMBER 30, 2012
Special Revenue Funds Highlands Leisure Red Park Lakes Sebring Hill Estates Special Hills Farms Improve- Benefit Special Improve- ment Fire Benefit ment Trust District District District ASSETS Cash and Cash Equivalents$ 58,397 $ 427,649 $ 7,383 $ 94,423 Restricted Cash - - - - Investments - - - - Accounts Receivable - Net - - - - Due from Other Funds - 945 192 43 Due from Other Governmental Units - 169 - - Total Assets$ 58,397 $ 428,763 $ 7,575 $ 94,466
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ - $ 649 $ 1,492 $ - Accrued Wages Payable - - - - Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - - Advances from Other Funds - - 8,804 - Deferred Revenue - - - - Total Liabilities - 649 10,296 -
Fund Balances: Restricted 58,397 428,114 - 94,466 Unassigned - - (2,721) - Total Fund Balances 58,397 428,114 (2,721) 94,466
Total Liabilities and Fund Balances$ 58,397 $ 428,763 $ 7,575 $ 94,466
(101)
Special Revenue Funds Orange Blossom Intergov- Estates Sun-N-Lake ernmental E911 Special Lake Placid Radio Emergency Hospital Benefit Recreation Conservation Communi- Operations District District District Trust cations
$ - $ 40,738 $ 107,339 $ 67,129 $ 475,785 $ ------689,538 ------78,138 - - 443 - - 94,115 286,820 - 137 - 8,404 $ 172,253 $ 327,558 $ 107,339 $ 67,709 $ 1,165,323 $ 8,404
$ - $ - $ 21 $ 3,499 $ 295 $ ------35,866 - - - - 718 ------67,072 - 35,866 - 21 3,499 67,367 718
136,387 327,558 107,318 64,210 1,097,956 7,686 ------136,387 327,558 107,318 64,210 1,097,956 7,686
$ 172,253 $ 327,558 $ 107,339 $ 67,709 $ 1,165,323 $ 8,404
(102) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) SEPTEMBER 30, 2012
Special Revenue Funds Orange Lake Sebring Blossom Haven Lorida Acres (Unit 12) Estates Special Special Special Special Benefit Benefit Benefit Benefit Fire District District District District ASSETS Cash and Cash Equivalents$ 123,876 $ 8,005 $ 28,467 $ 97,977 Restricted Cash - - - - Investments - - - - Accounts Receivable - Net - - - - Due from Other Funds 71 - 74 539 Due from Other Governmental Units - - - 71 Total Assets$ 123,947 $ 8,005 $ 28,541 $ 98,587
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ 208 $ - $ 782 $ 1,285 Accrued Wages Payable - - - - Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - - Advances from Other Funds - - - - Deferred Revenue - - - - Total Liabilities 208 - 782 1,285
Fund Balances: Restricted 123,739 8,005 27,759 97,302 Unassigned - - - - Total Fund Balances 123,739 8,005 27,759 97,302
Total Liabilities and Fund Balances$ 123,947 $ 8,005 $ 28,541 $ 98,587
(103)
Special Revenue Funds Lake Placid Highway Special Special Park Benefit Law Building Florida Law Special Fire Enforcement Code Boating Enforcement Benefit District Education Enforcement Improvement Trust District
$ 426,022 $ 139,938 $ 527,632 $ 111,513 $ 346,198 $ 30,996 ------6 - - - 1,026 - - - - 53 2,042 2,512 - 2,223 - 179 $ 429,090 $ 142,450 $ 527,638 $ 113,736 $ 346,198 $ 31,228
$ 1,134 $ - $ 3,501 $ 2,020 $ - $ 519 - - 8,003 - - - - - 1,696 ------1,134 - 13,200 2,020 - 519
427,956 142,450 514,438 111,716 346,198 30,709 ------427,956 142,450 514,438 111,716 346,198 30,709
$ 429,090 $ 142,450 $ 527,638 $ 113,736 $ 346,198 $ 31,228
(104) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) SEPTEMBER 30, 2012
Special Revenue Funds
Community Highlands Devel- Affordable Sun-N-Lake Park Estates opment Housing 1 - 20 Special Block Assistance Improvement Benefit Grant Trust Trust District ASSETS Cash and Cash Equivalents$ 260,497 $ 727,663 $ 56,919 $ 385,474 Restricted Cash - - - - Investments - - - - Accounts Receivable - Net - - - - Due from Other Funds - - - 426 Due from Other Governmental Units 28,553 - - 121 Total Assets$ 289,050 $ 727,663 $ 56,919 $ 386,021
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ 96,205 $ 11,294 $ - $ 874 Accrued Wages Payable - 300 - - Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - 200 Advances from Other Funds - - - - Deferred Revenue - 716,069 - - Total Liabilities 96,205 727,663 - 1,074
Fund Balances: Restricted 192,845 - 56,919 384,947 Unassigned - - - - Total Fund Balances 192,845 - 56,919 384,947
Total Liabilities and Fund Balances$ 289,050 $ 727,663 $ 56,919 $ 386,021
(105)
Special Revenue Funds
West Sebring Driver Development Special Education Tourist Domestic Fire Transportation Benefit Fire Safety Development Violence Inspection Improvement District Trust Trust Training And Safety
$ 84,963 $ 798,573 $ 45,526 $ 644,937 $ 53,740 $ 78,404 ------2,982 - - - - - 92 2,959 24,728 212 - $ 84,963 $ 801,647 $ 48,485 $ 669,665 $ 53,952 $ 78,404
$ - $ 8,596 $ 19,855 $ 12,091 $ - $ 1,186 - - - 1,956 ------8,596 19,855 14,047 - 1,186
84,963 793,051 28,630 655,618 53,952 77,218 ------84,963 793,051 28,630 655,618 53,952 77,218
$ 84,963 $ 801,647 $ 48,485 $ 669,665 $ 53,952 $ 78,404
(106) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) SEPTEMBER 30, 2012
Special Revenue Funds
Venus Innovations and Special Sebring State Court Supplemental Benefit Parkway Facilities Courts Funding Fire District Maintenance Trust Fund Trust Fund ASSETS Cash and Cash Equivalents$ 133,381 $ 369,253 $ 983,621 $ 321,527 Restricted Cash - - - - Investments - - - - Accounts Receivable - Net - - - - Due from Other Funds 198 - - - Due from Other Governmental Units - 12,490 17,965 3,674 Total Assets$ 133,579 $ 381,743 $ 1,001,586 $ 325,201
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ 128 $ 1,349 $ 1,099 $ 3,755 Accrued Wages Payable - - 463 - Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - - Advances from Other Funds - - - - Deferred Revenue - - - - Total Liabilities 128 1,349 1,562 3,755
Fund Balances: Restricted 133,451 380,394 1,000,024 321,446 Unassigned - - - - Total Fund Balances 133,451 380,394 1,000,024 321,446
Total Liabilities and Fund Balances$ 133,579 $ 381,743 $ 1,001,586 $ 325,201
(107)
Special Revenue Funds
Hurricane Home Placid Lakes Crime Court Tech Housing Initiatives Fire Prevention 28.24(12)(E)1 Court Trust Partnership District
$ 160,872 $ 27,278 $ 29,527 $ - $ - $ 140,056 ------25,432 ------681 1,562 8,968 29,820 - 78,128 89 $ 162,434 $ 36,246 $ 84,779 $ - $ 78,128 $ 140,826
$ - $ 32,017 $ 197 $ - $ 15,165 $ 249 - 1,991 4,214 - 300 ------20,868 - 70,662 - - - 59,500 ------48,214 - - 34,008 84,779 - 134,341 249
162,434 2,238 - - - 140,577 - - - - (56,213) - 162,434 2,238 - - (56,213) 140,577
$ 162,434 $ 36,246 $ 84,779 $ - $ 78,128 $ 140,826
(108) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) SEPTEMBER 30, 2012
Special Revenue Funds
Court Public Related Court Records Teen Technology Operations Modernization Court Modernization Modernization Trust Operations Trust Trust ASSETS Cash and Cash Equivalents$ 92,728 $ 23,262 $ 63,476 $ 71,733 Restricted Cash - - - - Investments 81,167 - - 25,298 Accounts Receivable - Net - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Total Assets$ 173,895 $ 23,262 $ 63,476 $ 97,031
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ 10,758 $ 144 $ 66 $ - Accrued Wages Payable - 860 2,985 499 Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - - Advances from Other Funds - - - - Deferred Revenue - - - - Total Liabilities 10,758 1,004 3,051 499
Fund Balances: Restricted 163,137 22,258 60,425 96,532 Unassigned - - - - Total Fund Balances 163,137 22,258 60,425 96,532
Total Liabilities and Fund Balances$ 173,895 $ 23,262 $ 63,476 $ 97,031
(109)
Special Revenue Funds
Affordable Impact Fee Impact Fee Impact Fee Court Court and Trans- Trans- Trans- Services Services Community Inmate Workforce portation portation portation Fund (120) Fund (121) Donations Welfare Trust Avon Park Lake Placid Sebring
$ - $ 64,416 $ 6,156 $ 486,757 $ - $ 239,614 $ 423,587 $ 49,079 ------13,044 ------441 ------155 - - - - $ - $ 64,416 $ 6,156 $ 500,397 $ - $ 239,614 $ 423,587 $ 49,079
$ - $ 5,602 $ - $ 1,945 $ - $ - $ - $ - - 56,410 - 948 - - - - - 40 ------2,364 ------64,416 - 2,893 - - - -
- - 6,156 497,504 - 239,614 423,587 49,079 ------6,156 497,504 - 239,614 423,587 49,079
$ - $ 64,416 $ 6,156 $ 500,397 $ - $ 239,614 $ 423,587 $ 49,079
(110) HIGHLANDS COUNTY, FLORIDA COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) SEPTEMBER 30, 2012
Special Revenue Funds
Impact Fee Impact Fee Impact Fee Parks and Parks and Parks and Impact Fee Recreation Recreation Recreation Correctional Avon Park Lake Placid Sebring Facilities ASSETS Cash and Cash Equivalents$ 4,516 $ 1,675 $ 16,527 $ 4,456 Restricted Cash - - - - Investments - - - - Accounts Receivable - Net - - - - Due from Other Funds - - - - Due from Other Governmental Units - - - - Total Assets$ 4,516 $ 1,675 $ 16,527 $ 4,456
LIABILITIES AND FUND BALANCES Liabilities: Vouchers Payable$ - $ - $ - $ - Accrued Wages Payable - - - - Due to Other Governmental Units - - - - Due to Other Funds - - - - Due to Others - - - - Advances from Other Funds - - - - Deferred Revenue - - - - Total Liabilities - - - -
Fund Balances: Restricted 4,516 1,675 16,527 4,456 Unassigned - - - - Total Fund Balances 4,516 1,675 16,527 4,456
Total Liabilities and Fund Balances$ 4,516 $ 1,675 $ 16,527 $ 4,456
(111)
Capital Projects Special Revenue Funds Fund Thunderbird Hill Waste Impact Fee Water Total All Impact Fee Emergency Special Nonmajor Impact Fee Impact Fee Law Medical Benefit HCISSRB Governmental Fire Libraries Enforcement Services District Construction Funds
$ 4,720 $ 1,689 $ 1,307 $ 1,010 $ 80,889 $ - $ 12,950,335 ------208,689 ------821,435 ------13,056 - - - - 127 - 93,318 ------607,305 $ 4,720 $ 1,689 $ 1,307 $ 1,010 $ 81,016 $ - $ 14,694,138
$ - $ - $ - $ - $ - $ - $ 268,573 ------82,978 ------1,736 ------128,114 ------59,700 - - - - 182,588 - 191,392 ------833,719 - - - - 182,588 - 1,566,212
4,720 1,689 1,307 1,010 - - 13,288,432 - - - - (101,572) - (160,506) 4,720 1,689 1,307 1,010 (101,572) - 13,127,926
$ 4,720 $ 1,689 $ 1,307 $ 1,010 $ 81,016 $ - $ 14,694,138
(112) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds DeSoto Lake Placid City Orange Hickory Sun-N-Lake Special Villa Hills Estates Benefit Special Special Fire Fire Benefit Benefit District District District District REVENUES Taxes$ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Assessments 170,115 175,973 1,333 2,385 Net Change in Fair Value of Investments 1,109 805 14 68 Miscellaneous 575 6,282 - - Total Revenues 171,799 183,060 1,347 2,453
EXPENDITURES Current: General Government - - - - Public Safety 141,020 166,037 - - Physical Environment - - - - Transportation - - 1,735 1,300 Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service: Principal Retirement - 10,948 - - Interest and Fiscal Charges - 4,862 - - Total Expenditures 141,020 181,847 1,735 1,300
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 30,779 1,213 (388) 1,153
OTHER FINANCING SOURCES (USES) Transfers In - - - - Transfers Out - - - - Proceeds from Issuance of Debt - 210,000 - - Total Other Financing Sources (Uses) - 210,000 - -
NET CHANGE IN FUND BALANCE 30,779 211,213 (388) 1,153
Fund Balances - October 1, 2011 252,702 72,857 3,167 16,634
FUND BALANCES - SEPTEMBER 30, 2012 $ 283,481 $ 284,070 $ 2,779 $ 17,787
(113)
Special Revenue Funds Sebring Istokpoga Avon Highlands Placid Country Marsh Park Highlands Park Lakes Estates Watershed Estates Lakes Special Special Special Improve- Special Special Benefit Benefit Benefit ment Benefit Tax Fire District District District District District District
$ - $ - $ - $ - $ - $ ------50,000 ------161,765 19,349 71,967 87,105 207,014 46,514 1,906 240 2,346 3,366 1,258 466 - - 31,712 - - - 163,671 19,589 156,025 90,471 208,272 46,980
------187,340 39,195 - - 159,202 - - - 108,187 21,653 - 33,850 ------
------108,187 21,653 159,202 33,850 187,340 39,195
55,484 (2,064) (3,177) 56,621 20,932 7,785
------
55,484 (2,064) (3,177) 56,621 20,932 7,785
454,288 57,376 587,276 852,729 270,138 127,664
$ 509,772 $ 55,312 $ 584,099 $ 909,350 $ 291,070 $ 135,449
(114) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds Highlands Leisure Red Park Lakes Sebring Hill Estates Special Hills Farms Improve- Benefit Special Improve- ment Fire Benefit ment Trust District District District REVENUES Taxes$ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Assessments - 128,499 26,082 5,916 Net Change in Fair Value of Investments 229 1,693 51 304 Miscellaneous - - - - Total Revenues 229 130,192 26,133 6,220
EXPENDITURES Current: General Government - - - - Public Safety - 90,539 - - Physical Environment - - - - Transportation 426 - 21,004 557 Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service: Principal Retirement - - - - Interest and Fiscal Charges - - 185 - Total Expenditures 426 90,539 21,189 557
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (197) 39,653 4,944 5,663
OTHER FINANCING SOURCES (USES) Transfers In - - - - Transfers Out - - - - Proceeds from Issuance of Debt - - - - Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCE (197) 39,653 4,944 5,663
Fund Balances - October 1, 2011 58,594 388,461 (7,665) 88,803
FUND BALANCES - SEPTEMBER 30, 2012 $ 58,397 $ 428,114 $ (2,721) $ 94,466
(115)
Orange Blossom Estates Sun-N-Lake E911 Special Lake Placid Conserva- Emergency Hospital Benefit Recreation tion Operations District District District Trust
$ - $ - $ - $ - $ ------296,207 770,552 - - (11,396) 421,294 - - - 7,345 ------60,220 - 246 531 404 280 7,817 - - - 1,453 67,324 717,747 771,083 404 61,953 71,090
- - - - - 1,051,640 ------51,883 - - 258 ------443,525 ------38,264 ------
- - - 15,000 - - - - 1,536 - 1,051,640 443,525 258 54,800 51,883
(333,893) 327,558 146 7,153 19,207
333,897 ------333,897 - - - -
4 327,558 146 7,153 19,207
136,383 - 107,172 57,057 1,078,749
$ 136,387 $ 327,558 $ 107,318 $ 64,210 $ 1,097,956
(116) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds Orange Lake Intergov- Sebring Blossom Haven ernmental Acres (Unit 12) Estates Radio Special Special Special Communi- Benefit Benefit Benefit cations District District District REVENUES Taxes $ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental 2,877 - - - Charges for Services 63,140 - - - Fines and Forfeitures - - - - Assessments - 9,610 - 9,986 Net Change in Fair Value of Investments - 459 30 105 Miscellaneous - - - - Total Revenues 66,017 10,069 30 10,091
EXPENDITURES Current: General Government - - - - Public Safety 226,599 - - - Physical Environment - - - - Transportation - 3,417 - 10,286 Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service: Principal Retirement - - - - Interest and Fiscal Charges - - - - Total Expenditures 226,599 3,417 - 10,286
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (160,582) 6,652 30 (195)
OTHER FINANCING SOURCES (USES) Transfers In 163,459 - - - Transfers Out - - - - Proceeds from Issuance of Debt - - - - Total Other Financing Sources (Uses) 163,459 - - -
NET CHANGE IN FUND BALANCE 2,877 6,652 30 (195)
Fund Balances - October 1, 2011 4,809 117,087 7,975 27,954
FUND BALANCES - SEPTEMBER 30, 2012 $ 7,686 $ 123,739 $ 8,005 $ 27,759
(117)
Special Revenue Funds Lake Lorida Placid Special Special Special Building Florida Law Benefit Benefit Law Code Boating Enforce- Fire Fire Enforcement Enforce- Improve- ment District District Education ment ment Trust
$ - $ - $ - $ - $ - $ - - - - 446,169 ------36,540 - - - 34,961 62,608 ------44,367 73,250 139,548 - - - - 418 1,596 456 1,977 443 1,311 3,052 5,400 - 4,923 - - 76,720 146,544 35,417 515,677 36,983 45,678
------43,620 75,043 - 527,090 - 48,517 ------47,872 ------
10,217 - - - - - 2,819 - - - - - 56,656 75,043 - 527,090 47,872 48,517
20,064 71,501 35,417 (11,413) (10,889) (2,839)
------
20,064 71,501 35,417 (11,413) (10,889) (2,839)
77,238 356,455 107,033 525,851 122,605 349,037
$ 97,302 $ 427,956 $ 142,450 $ 514,438 $ 111,716 $ 346,198
(118) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds
Highway Park Community Affordable Sun-N-Lake Special Development Housing 1 - 20 Benefit Block Assistance Improvement District Grant Trust Trust REVENUES Taxes$ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - 195,923 244,434 - Charges for Services - - - - Fines and Forfeitures - - - - Assessments 7,213 - - - Net Change in Fair Value of Investments 105 950 - 178 Miscellaneous - 12,600 153,101 - Total Revenues 7,318 209,473 397,535 178
EXPENDITURES Current: General Government - - - - Public Safety - - - - Physical Environment - - - - Transportation 6,869 - - - Economic Environment - 258,395 397,535 - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service: Principal Retirement - - - - Interest and Fiscal Charges - - - - Total Expenditures 6,869 258,395 397,535 -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 449 (48,922) - 178
OTHER FINANCING SOURCES (USES) Transfers In - - - - Transfers Out - (10,000) - - Proceeds from Issuance of Debt - - - - Total Other Financing Sources (Uses) - (10,000) - -
NET CHANGE IN FUND BALANCE 449 (58,922) - 178
Fund Balances - October 1, 2011 30,260 251,767 - 56,741
FUND BALANCES - SEPTEMBER 30, 2012 $ 30,709 $ 192,845 $ - $ 56,919
(119)
Special Revenue Funds Highlands Park West Estates Sebring Driver Special Development Special Education Tourist Domestic Fire Benefit Transportation Benefit Fire Safety Development Violence Inspection District Improvement District Trust Trust Training And Safety
$ - $ - $ - $ - $ 305,526 $ - $ ------526 ------38,618 - 6,565 4,830 ------58,008 - 405,456 - - - - 1,417 262 3,161 102 1,931 170 255 - - 6,600 - 2,000 - - 59,425 262 415,217 38,720 309,457 6,735 5,611
------256,688 - - - 4,209 ------14,651 ------19,856 218,562 ------
------14,651 - 256,688 19,856 218,562 - 4,209
44,774 262 158,529 18,864 90,895 6,735 1,402
------
44,774 262 158,529 18,864 90,895 6,735 1,402
340,173 84,701 634,522 9,766 564,723 47,217 75,816
$ 384,947 $ 84,963 $ 793,051 $ 28,630 $ 655,618 $ 53,952 $ 77,218
(120) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds Innovations Venus and Special Supplemental Benefit Sebring State Court Courts Fire Parkway Facilities Funding District Maintenance Trust Trust REVENUES Taxes$ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - 71,989 - - Charges for Services - - 242,659 93,060 Fines and Forfeitures - - - - Assessments 26,860 - - - Net Change in Fair Value of Investments 445 1,244 3,527 1,257 Miscellaneous - - - - Total Revenues 27,305 73,233 246,186 94,317
EXPENDITURES Current: General Government - - - - Public Safety 12,134 - - - Physical Environment - - - - Transportation - 109,615 - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - 122,739 112,121 Debt Service: Principal Retirement - - - - Interest and Fiscal Charges - - - - Total Expenditures 12,134 109,615 122,739 112,121
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 15,171 (36,382) 123,447 (17,804)
OTHER FINANCING SOURCES (USES) Transfers In - 54,378 - 100,554 Transfers Out - - (24,619) (23,279) Proceeds from Issuance of Debt - - - - Total Other Financing Sources (Uses) - 54,378 (24,619) 77,275
NET CHANGE IN FUND BALANCE 15,171 17,996 98,828 59,471
Fund Balances - October 1, 2011 118,280 362,398 901,196 261,975
FUND BALANCES - SEPTEMBER 30, 2012 $ 133,451 $ 380,394 $ 1,000,024 $ 321,446
(121)
Special Revenue Funds
Placid Hurricane Home Lakes Crime Court Tech Housing Initiatives Fire Prevention 28.24(12)(E)1 Court Trust Partnership District
$ - $ - $ - $ - $ - $ ------169,669 - 621,130 - 39,948 111,675 17,273 ------92,639 523 26 230 65 - 563 - 10,000 - - - - 40,471 121,701 187,172 65 621,130 93,202
------36,000 - - - - 34,054 ------65 620,971 ------297,596 166,304 - - -
- - - - - 26,184 - - - - - 4,973 36,000 297,596 166,304 65 620,971 65,211
4,471 (175,895) 20,868 - 159 27,991
- 175,896 ------(20,868) ------175,896 (20,868) - - -
4,471 1 - - 159 27,991
157,963 2,237 - - (56,372) 112,586
$ 162,434 $ 2,238 $ - $ - $ (56,213) $ 140,577
(122) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds
Court Public Related Court Records Teen Technology Operations Modernization Court Modernization Modernization Trust Operations Trust Trust REVENUES Taxes$ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - - Charges for Services 37,874 27,328 106,047 111,228 Fines and Forfeitures - - - - Assessments - - - - Net Change in Fair Value of Investments 771 92 223 374 Miscellaneous 2,552 - 2,338 - Total Revenues 41,197 27,420 108,608 111,602
EXPENDITURES Current: General Government 73,189 28,715 108,216 - Public Safety - - - - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - 137,417 Debt Service: Principal Retirement - - - - Interest and Fiscal Charges - - - - Total Expenditures 73,189 28,715 108,216 137,417
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (31,992) (1,295) 392 (25,815)
OTHER FINANCING SOURCES (USES) Transfers In - - 723 - Transfers Out - - - (723) Proceeds from Issuance of Debt - - - - Total Other Financing Sources (Uses) - - 723 (723)
NET CHANGE IN FUND BALANCE (31,992) (1,295) 1,115 (26,538)
Fund Balances - October 1, 2011 195,129 23,553 59,310 123,070
FUND BALANCES - SEPTEMBER 30, 2012 $ 163,137 $ 22,258 $ 60,425 $ 96,532
(123)
Special Revenue Funds
Affordable Impact Fee Impact Fee Court Court and Trans- Trans- Services Services Community Inmate Workforce portation portation Fund (120) Fund (121) Donations Welfare Trust Avon Park Lake Placid
$ - $ - $ - $ - $ - $ - $ ------1,398,778 439,803 ------26,376 ------1,631 771 1,295 - - 6,082 419,585 - - - 1,398,778 439,803 6,082 445,961 1,631 771 1,295
------3,211 176,552 ------1,398,778 439,803 - - - - -
------1,398,778 439,803 3,211 176,552 - - -
- - 2,871 269,409 1,631 771 1,295
------(434,074) ------(434,074) - -
- - 2,871 269,409 (432,443) 771 1,295
- - 3,285 228,095 432,443 238,843 422,292
$ - $ - $ 6,156 $ 497,504 $ - $ 239,614 $ 423,587
(124) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Special Revenue Funds
Impact Fee Impact Fee Impact Fee Impact Fee Trans- Parks and Parks and Parks and portation Recreation Recreation Recreation Sebring Avon Park Lake Placid Sebring REVENUES Taxes$ - $ - $ - $ - Licenses and Permits - - - - Intergovernmental - - - - Charges for Services - - - - Fines and Forfeitures - - - - Assessments - - - - Net Change in Fair Value of Investments 184 17 6 51 Miscellaneous - - - - Total Revenues 184 17 6 51
EXPENDITURES Current: General Government - - - - Public Safety - - - - Physical Environment - - - - Transportation - - - - Economic Environment - - - - Human Services - - - - Culture and Recreation - - - - Court Related - - - - Debt Service: Principal Retirement - - - - Interest and Fiscal Charges - - - - Total Expenditures - - - -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 184 17 6 51
OTHER FINANCING SOURCES (USES) Transfers In - - - - Transfers Out - - - - Proceeds from Issuance of Debt - - - - Total Other Financing Sources (Uses) - - - -
NET CHANGE IN FUND BALANCE 184 17 6 51
Fund Balances - October 1, 2011 48,895 4,499 1,669 16,476
FUND BALANCES - SEPTEMBER 30, 2012 $ 49,079 $ 4,516 $ 1,675 $ 16,527
(125)
Capital Projects Special Revenue Funds Fund Thunderbird Hill Waste Impact Fee Water Total All Impact Fee Impact Fee Emergency Special Nonmajor Correctional Impact Fee Impact Fee Law Medical Benefit HCISSRB Governmental Facilities Fire Libraries Enforcement Services District Construction Funds
$ - $ - $ - $ - $ - $ - $ - $ 305,526 ------446,695 ------4,286,506 ------1,452,829 ------44,367 - - - - - 17,294 - 2,004,101 14 19 45 5 3 313 - 52,153 ------735,579 14 19 45 5 3 17,607 - 9,327,756
------210,120 ------3,119,488 - - - - - 1,602 - 212,687 ------333,808 ------1,515,384 ------443,525 - - 34,629 - - - - 120,765 ------2,674,758
------62,349 - - - - - 3,779 - 18,154 - - 34,629 - - 5,381 - 8,711,038
14 19 (34,584) 5 3 12,226 - 616,718
------828,907 ------(2,456) (516,019) ------210,000 ------(2,456) 522,888
14 19 (34,584) 5 3 12,226 (2,456) 1,139,606
4,442 4,701 36,273 1,302 1,007 (113,798) 2,456 11,988,320
$ 4,456 $ 4,720 $ 1,689 $ 1,307 $ 1,010 $ (101,572) $ - $ 13,127,926
(126) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LAKE PLACID SUN-N-LAKE ESTATES FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) REVENUES Assessments$ 178,500 $ 178,500 $ 170,115 $ (8,385) Net Change in Fair Value of Investments 250 250 1,109 859 Miscellaneous - - 575 575
Total Revenues 178,750 178,750 171,799 (6,951)
EXPENDITURES Current: Public Safety: Special Benefit Districts 193,565 193,696 141,020 52,676
Total Expenditures 193,565 193,696 141,020 52,676
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (14,815) (14,946) 30,779 (59,627)
Fund Balances - October 1, 2011 14,815 14,946 252,702 237,756
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 283,481 $ 283,481
(127) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL DESOTO CITY SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) REVENUES Assessments$ 171,000 $ 171,000 $ 175,973 $ 4,973 Net Change in Fair Value of Investments 150 150 805 655 Miscellaneous - 6,282 6,282 -
Total Revenues 171,150 177,432 183,060 5,628
EXPENDITURES Current: Public Safety: Special Benefit Districts 176,747 390,434 166,037 224,397
Total Public Safety 176,747 390,434 166,037 224,397
Debt Service: Principal Retirement 13,333 12,615 10,948 1,667 Interest 1,464 4,964 4,862 102
Total Debt Service 14,797 17,579 15,810 1,769
Total Expenditures 191,544 408,013 181,847 226,166
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (20,394) (230,581) 1,213 231,794
OTHER FINANCING SOURCES Proceeds from Issuance of Debt - 210,000 210,000 -
NET CHANGE IN FUND BALANCE (20,394) (20,581) 211,213 231,794
Fund Balances - October 1, 2011 20,394 20,581 72,857 52,276
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 284,070 $ 284,070
(128) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ORANGE VILLA SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) REVENUES Assessments$ 1,390 $ 1,390 $ 1,333 $ (57) Net Change in Fair Value of Investments - - 14 14
Total Revenues 1,390 1,390 1,347 (43)
EXPENDITURES Current: Transportation: Special Benefit Districts 1,946 1,946 1,735 211
Total Expenditures 1,946 1,946 1,735 211
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (556) (556) (388) 168
Fund Balances - October 1, 2011 556 556 3,167 2,611
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 2,779 $ 2,779
(129) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HICKORY HILLS SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 2,328 $ 2,328 $ 2,385 $ 57 Net Change in Fair Value of Investments - - 68 68
Total Revenues 2,328 2,328 2,453 125
EXPENDITURES Current: Transportation: Special Benefit Districts 2,328 2,328 1,300 1,028
Total Expenditures 2,328 2,328 1,300 1,028
EXCESS OF REVENUES OVER EXPENDITURES - - 1,153 1,153
Fund Balances - October 1, 2011 - - 16,634 16,634
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 17,787 $ 17,787
(130) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL PLACID LAKES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 162,925 $ 162,925 $ 161,765 $ (1,160) Net Change in Fair Value of Investments - - 1,906 1,906
Total Revenues 162,925 162,925 163,671 746
EXPENDITURES Current: Transportation: Special Benefit Districts 354,985 314,088 108,187 205,901
Total Expenditures 354,985 314,088 108,187 205,901
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (192,060) (151,163) 55,484 206,647
Fund Balances - October 1, 2011 192,060 151,163 454,288 303,125
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 509,772 $ 509,772
(131) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SEBRING COUNTRY ESTATES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 19,055 $ 19,055 $ 19,349 $ 294 Net Change in Fair Value of Investments - - 240 240
Total Revenues 19,055 19,055 19,589 534
EXPENDITURES Current: Transportation: Special Benefit Districts 26,604 26,604 21,653 4,951
Total Expenditures 26,604 26,604 21,653 4,951
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (7,549) (7,549) (2,064) 5,485
Fund Balances - October 1, 2011 7,549 7,549 57,376 49,827
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 55,312 $ 55,312
(132) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ISTOKPOGA MARSH WATERSHED IMPROVEMENT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ - $ 38,495 $ 50,000 $ 11,505 Assessments 70,600 70,875 71,967 1,092 Net Change in Fair Value of Investments - - 2,346 2,346 Miscellaneous - - 31,712 31,712
Total Revenues 70,600 109,370 156,025 46,655
EXPENDITURES Current: Physical Environment: Istokpoga Marsh Improvements 222,006 318,276 159,202 159,074
Total Expenditures 222,006 318,276 159,202 159,074
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (151,406) (208,906) (3,177) 205,729
Fund Balances - October 1, 2011 151,406 208,906 587,276 378,370
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 584,099 $ 584,099
(133) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL AVON PARK ESTATES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 87,210 $ 87,210 $ 87,105 $ (105) Net Change in Fair Value of Investments - - 3,366 3,366
Total Revenues 87,210 87,210 90,471 3,261
EXPENDITURES Current: Transportation: Special Benefit Districts 232,762 232,762 33,850 198,912
Total Expenditures 232,762 232,762 33,850 198,912
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (145,552) (145,552) 56,621 202,173
Fund Balances - October 1, 2011 145,552 145,552 852,729 707,177
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 909,350 $ 909,350
(134) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HIGHLANDS LAKES SPECIAL TAX DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 205,438 $ 205,438 $ 207,014 $ 1,576 Net Change in Fair Value of Investments 300 300 1,258 958
Total Revenues 205,738 205,738 208,272 2,534
EXPENDITURES Current: Public Safety: Special Benefit Districts 242,054 252,054 187,340 - 64,714
Total Expenditures 242,054 252,054 187,340 64,714
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (36,316) (46,316) 20,932 67,248
Fund Balances - October 1, 2011 36,316 46,316 270,138 223,822
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 291,070 $ 291,070
(135) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HIGHLANDS PARK SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 46,093 $ 46,093 $ 46,514 $ 421 Net Change in Fair Value of Investments 100 100 466 366
Total Revenues 46,193 46,193 46,980 787
EXPENDITURES Current: Public Safety: Special Benefit Districts 48,757 49,166 39,195 9,971
Total Expenditures 48,757 49,166 39,195 9,971
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (2,564) (2,973) 7,785 10,758
Fund Balances - October 1, 2011 2,564 2,973 127,664 124,691
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 135,449 $ 135,449
(136) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HIGHLANDS PARK ESTATES IMPROVEMENT TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 229 $ 229
Total Revenues - - 229 229
EXPENDITURES Current: Transportation: Improvement Trust 157,230 20,855 426 20,429
Total Expenditures 157,230 20,855 426 20,429
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (157,230) (20,855) (197) 20,658
Fund Balances - October 1, 2011 157,230 20,855 58,594 37,739
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 58,397 $ 58,397
(137) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LEISURE LAKES SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 130,478 $ 130,478 $ 128,499 $ (1,979) Net Change in Fair Value of Investments 350 350 1,693 1,343
Total Revenues 130,828 130,828 130,192 (636)
EXPENDITURES Current: Public Safety: Special Benefit Districts 148,496 148,755 90,539 58,216
Total Expenditures 148,496 148,755 90,539 58,216
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (17,668) (17,927) 39,653 57,580
Fund Balances - October 1, 2011 17,668 17,927 388,461 370,534
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 428,114 $ 428,114
(138) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SEBRING HILLS SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 25,588 $ 25,588 $ 26,082 $ 494 Net Change in Fair Value of Investments - - 51 51
Total Revenues 25,588 25,588 26,133 545
EXPENDITURES Current: Transportation: Special Benefit Districts 24,616 24,616 21,004 3,612
Total Transportation 24,616 24,616 21,004 3,612
Debt Service: Principal Retirement 787 787 - 787 Interest 185 185 185 -
Total Debt Service 972 972 185 787
Total Expenditures 25,588 25,588 21,189 4,399
EXCESS OF REVENUES OVER EXPENDITURES - - 4,944 4,944
Fund Balances - October 1, 2011 - - (7,665) (7,665)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ (2,721) $ (2,721)
(139) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL RED HILL FARMS IMPROVEMENT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 5,900 $ 5,900 $ 5,916 $ 16 Net Change in Fair Value of Investments - - 304 304
Total Revenues 5,900 5,900 6,220 320
EXPENDITURES Current: Transportation: Special Benefit Districts 10,621 10,621 557 10,064
Total Expenditures 10,621 10,621 557 10,064
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (4,721) (4,721) 5,663 10,384
Fund Balances - October 1, 2011 4,721 4,721 88,803 84,082
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 94,466 $ 94,466
(140) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL E911 EMERGENCY OPERATIONS FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ - $ - $ 296,207 $ 296,207 Charges for Services 448,049 448,049 421,294 (26,755) Net Change in Fair Value of Investments - - 246 246
Total Revenues 448,049 448,049 717,747 269,698
EXPENDITURES Current: Public Safety: E911 Operations 1,129,782 1,129,782 1,051,640 78,142
Total Expenditures 1,129,782 1,129,782 1,051,640 78,142
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (681,733) (681,733) (333,893) 347,840
OTHER FINANCING SOURCES (USES) Transfers In 385,526 385,526 333,897 (51,629)
Total Other Financing Sources (Uses) 385,526 385,526 333,897 (51,629)
NET CHANGE IN FUND BALANCE (296,207) (296,207) 4 296,211
Fund Balances - October 1, 2011 296,207 296,207 136,383 (159,824)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 136,387 $ 136,387
(141) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HOSPITAL DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ - $ 483,732 $ 770,552 $ 286,820 Net Change in Fair Value of Investments - - 531 531
Total Revenues - 483,732 771,083 287,351
EXPENDITURES Current: Human Services: Other Human Services - 483,732 443,525 40,207
Total Expenditures - 483,732 443,525 40,207
EXCESS OF REVENUES OVER EXPENDITURES - - 327,558 327,558
Fund Balances - October 1, 2011 - - - -
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 327,558 $ 327,558
(142) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ORANGE BLOSSOM ESTATES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 404 $ 404
Total Revenues - - 404 404
EXPENDITURES Current: Transportation: Special Benefit Districts 107,193 20,230 258 19,972
Total Expenditures 107,193 20,230 258 19,972
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (107,193) (20,230) 146 20,376
Fund Balances - October 1, 2011 107,193 20,230 107,172 86,942
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 107,318 $ 107,318
(143) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SUN-N-LAKE LAKE PLACID RECREATION DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 64,070 $ 64,070 $ 60,220 $ (3,850) Net Change in Fair Value of Investments - - 280 280 Miscellaneous - - 1,453 1,453
Total Revenues 64,070 64,070 61,953 (2,117)
EXPENDITURES Current: Culture and Recreation: Special Benefit Districts 94,270 94,270 38,264 56,006
Total Culture and Recreation 94,270 94,270 38,264 56,006
Debt Service: Principal Retirement 15,000 15,000 15,000 - Interest 3,959 3,959 1,536 2,423
Total Debt Service 18,959 18,959 16,536 2,423
Total Expenditures 113,229 113,229 54,800 58,429
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (49,159) (49,159) 7,153 56,312
Fund Balances - October 1, 2011 49,159 49,159 57,057 7,898
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 64,210 $ 64,210
(144) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL CONSERVATRION TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ 405,000 $ 405,000 $ (11,396) $ (416,396) Charges for Services - - 7,345 7,345 Net Change in Fair Value of Investments - - 7,817 7,817 Miscellaneous - 67,324 67,324 -
Total Revenues 405,000 472,324 71,090 (401,234)
EXPENDITURES Current: Physical Environment: Conservation and Resource Management 438,903 544,886 51,883 493,003
Total Expenditures 438,903 544,886 51,883 493,003
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (33,903) (72,562) 19,207 91,769
Fund Balances - October 1, 2011 33,903 72,562 1,078,749 1,006,187
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 1,097,956 $ 1,097,956
(145) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL INTERGOVERNMENTAL RADIO COMMUNICATIONS FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ - $ - $ 2,877 $ 2,877 Charges for Services 61,277 61,277 63,140 1,863
Total Revenues 61,277 61,277 66,017 4,740
EXPENDITURES Current: Public Safety: Other Public Safety 227,815 229,530 226,599 2,931
Total Expenditures 227,815 229,530 226,599 2,931
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (166,538) (168,253) (160,582) 7,671
OTHER FINANCING SOURCES Transfers In 156,723 156,936 163,459 6,523
Total Other Financing Sources 156,723 156,936 163,459 6,523
NET CHANGE IN FUND BALANCE (9,815) (11,317) 2,877 14,194
Fund Balances - October 1, 2011 9,815 11,317 4,809 (6,508)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 7,686 $ 7,686
(146) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SEBRING ACRES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 9,500 $ 9,500 $ 9,610 $ 110 Net Change in Fair Value of Investments - - 459 459
Total Revenues 9,500 9,500 10,069 569
EXPENDITURES: Current: Transportation: Special Benefit Districts 9,500 9,500 3,417 6,083
Total Expenditures 9,500 9,500 3,417 6,083
EXCESS OF REVENUES OVER EXPENDITURES - - 6,652 6,652
Fund Balances - October 1, 2011 - - 117,087 117,087
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 123,739 $ 123,739
(147) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL ORANGE BLOSOM (UNIT 12) SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 30 $ 30
Total Revenues - - 30 30
EXPENDITURES Current: Transportation: Special Benefit Districts 6,460 6,460 - 6,460
Total Expenditures 6,460 6,460 - 6,460
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (6,460) (6,460) 30 6,490
Fund Balances - October 1, 2011 6,460 6,460 7,975 1,515
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 8,005 $ 8,005
(148) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LAKE HAVEN ESTATES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 9,856 $ 9,856 $ 9,986 $ 130 Net Change in Fair Value of Investments - - 105 105
Total Revenues 9,856 9,856 10,091 235
EXPENDITURES Current: Transportation: Special Benefit Districts 13,278 13,278 10,286 2,992
Total Expenditures 13,278 13,278 10,286 2,992
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (3,422) (3,422) (195) 3,227
Fund Balances - October 1, 2011 3,422 3,422 27,954 24,532
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 27,759 $ 27,759
(149) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LORIDA SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 73,420 $ 73,420 $ 73,250 $ (170) Net Change in Fair Value of Investments - - 418 418 Miscellaneous - - 3,052 3,052
Total Revenues 73,420 73,420 76,720 3,300
EXPENDITURES Current: Public Safety: Special Benefit Districts 69,862 69,862 43,620 26,242
Total Public Safety 69,862 69,862 43,620 26,242
Debt Service: Principal Retirement 15,217 15,217 10,217 5,000 Interest 4,805 4,805 2,819 1,986
Total Debt Service 20,022 20,022 13,036 6,986
Total Expenditures 89,884 89,884 56,656 33,228
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (16,464) (16,464) 20,064 36,528
Fund Balances - October 1, 2011 16,464 16,464 77,238 60,774
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 97,302 $ 97,302
(150) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LAKE PLACID SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 133,898 $ 133,898 $ 139,548 $ 5,650 Net Change in Fair Value of Investments 500 500 1,596 1,096 Miscellaneous - - 5,400 5,400
Total Revenues 134,398 134,398 146,544 12,146
EXPENDITURES Current: Public Safety: Special Benefit Districts 166,254 166,254 75,043 91,211
Total Expenditures 166,254 166,254 75,043 91,211
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (31,856) (31,856) 71,501 (79,065)
Fund Balances - October 1, 2011 31,856 31,856 356,455 324,599
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 427,956 $ 245,534
(151) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL LAW ENFORCEMENT EDUCATION FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 35,750 $ 35,750 $ 34,961 $ (789) Net Change in Fair Value of Investments - - 456 456
Total Revenues 35,750 35,750 35,417 (333)
EXPENDITURES Current: Public Safety: Sheriff 78,750 78,750 - 78,750
Total Expenditures 78,750 78,750 - 78,750
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (43,000) (43,000) 35,417 78,417
Fund Balances - October 1, 2011 43,000 43,000 107,033 64,033
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 142,450 $ 142,450
(152) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL BUILDING CODE ENFORCEMENT YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Licenses and Permits$ 480,000 $ 480,000 $ 446,169 $ (33,831) Charges for Services 50,600 50,600 62,608 12,008 Net Change in Fair Value of Investments 800 800 1,977 1,177 Miscellaneous 1,000 4,109 4,923 814
Total Revenues 532,400 535,509 515,677 (19,832)
EXPENDITURES Current: Public Safety: Protective Inspections 638,491 641,772 527,090 114,682
Total Expenditures 638,491 641,772 527,090 114,682
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (106,091) (106,263) (11,413) 94,850
Fund Balances - October 1, 2011 106,091 106,263 525,851 419,588
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 514,438 $ 514,438
(153) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FLORIDA BOATING IMPROVEMENT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ 32,000 $ 32,000 $ 36,540 $ 4,540 Net Change in Fair Value of Investments - - 443 443
Total Revenues 32,000 32,000 36,983 4,983
EXPENDITURES Current: Culture and Recreation: Parks Department 48,000 48,000 47,872 128
Total Expenditures 48,000 48,000 47,872 128
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (16,000) (16,000) (10,889) 5,111
Fund Balances - October 1, 2011 16,000 16,000 122,605 106,605
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 111,716 $ 111,716
(154) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SPECIAL LAW ENFORCEMENT TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Fines and Forfeitures$ - $ 11,244 $ 44,367 $ 33,123 Net Change in Fair Value of Investments - 361 1,311 950
Total Revenues - 11,605 45,678 34,073
EXPENDITURES Current: Public Safety: County Jail - 360,642 48,517 312,125
Total Expenditures - 360,642 48,517 312,125
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES - (349,037) (2,839) 346,198
Fund Balances - October 1, 2011 - 349,037 349,037 -
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 346,198 $ 346,198
(155) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HIGHWAY PARK SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 6,778 $ 6,778 $ 7,213 $ 435 Net Change in Fair Value of Investments - - 105 105
Total Revenues 6,778 6,778 7,318 540
EXPENDITURES Current: Transportation: Special Benefit Districts 10,756 10,756 6,869 3,887
Total Expenditures 10,756 10,756 6,869 3,887
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (3,978) (3,978) 449 4,427
Fund Balances - October 1, 2011 3,978 3,978 30,260 26,282
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 30,709 $ 30,709
(156) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL COMMUNITY DEVELOPMENT BLOCK GRANT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental$ - $ 258,395 $ 195,923 $ (62,472) Net Change in Fair Value of Investments - - 950 950 Miscellaneous - 10,000 12,600 2,600
Total Revenues - 268,395 209,473 (58,922)
EXPENDITURES Current: Economic Environment: Community Development Block Grant - 258,395 258,395 -
Total Expenditures - 258,395 258,395 -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES - 10,000 (48,922) (58,922)
OTHER FINANCING USES Transfers Out - (10,000) (10,000) -
Total Other Financing Uses - (10,000) (10,000) -
NET CHANGE IN FUND BALANCE - - (58,922) (58,922)
Fund Balances - October 1, 2011 - - 251,767 251,767
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 192,845 $ 192,845
(157) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL AFFORDABLE HOUSING ASSISTANCE TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental $ - $ 350,000 $ 244,434 $ (105,566) Miscellaneous - - 153,101 153,101
Total Revenues - 350,000 397,535 47,535
EXPENDITURES Current: Economic Environment: State Housing Assistance Grant 691,359 877,922 397,535 480,387
Total Expenditures 691,359 877,922 397,535 480,387
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (691,359) (527,922) - 527,922
Fund Balance - October 1, 2011 691,359 527,922 - (527,922)
FUND BALANCE - SEPTEMBER 30, 2012 $ - $ - $ - $ -
(158) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SUN N LAKE 1 - 20 IMPROVEMENT TRUST YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 178 $ 178
Total Revenues - - 178 178
EXPENDITURES Current: Transportation: Special Benefit Districts 56,669 56,669 - 56,669
Total Expenditures 56,669 56,669 - 56,669
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (56,669) (56,669) 178 56,847
Fund Balances - October 1, 2011 56,669 56,669 56,741 72
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 56,919 $ 56,919
(159) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HIGHLANDS PARK ESTATES SPECIAL BENEFIT DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 61,000 $ 61,000 $ 58,008 $ (2,992) Net Change in Fair Value of Investments - 110 1,417 1,307
Total Revenues 61,000 61,110 59,425 (1,685)
EXPENDITURES Current: Transportation: Special Benefit District 61,000 61,110 14,651 46,459
Total Expenditures 61,000 61,110 14,651 46,459
EXCESS OF REVENUES OVER EXPENDITURES - - 44,774 44,774
Fund Balances - October 1, 2011 - - 340,173 340,173
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 384,947 $ 384,947
(160) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL DEVELOPMENT TRANSPORTATION IMPROVEMENT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 262 $ 262
Total Revenues - - 262 262
EXPENDITURES Current: Transportation: Improvement Trust - - - -
Total Expenditures - - - -
EXCESS OF REVENUES OVER EXPENDITURES - - 262 262
Fund Balances - October 1, 2011 - - 84,701 84,701
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 84,963 $ 84,963
(161) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL WEST SEBRING SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 397,888 $ 397,888 $ 405,456 $ 7,568 Net Change in Fair Value of Investments 500 500 3,161 2,661 Miscellaneous - - 6,600 6,600
Total Revenues 398,388 398,388 415,217 16,829
EXPENDITURES Current: Public Safety: Special Benefit District 414,487 414,487 256,688 157,799
Total Expenditures 414,487 414,487 256,688 157,799
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (16,099) (16,099) 158,529 174,628
Fund Balances - October 1, 2011 16,099 16,099 634,522 618,423
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 793,051 $ 793,051
(162) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL DRIVER EDUCATION SAFETY TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 46,000 $ 46,000 $ 38,618 $ (7,382) Net Change in Fair Value of Investments - - 102 102
Total Revenues 46,000 46,000 38,720 (7,280)
EXPENDITURES Current: Economic Environment: Other Human Services 46,000 46,000 19,856 26,144
Total Expenditures 46,000 46,000 19,856 26,144
EXCESS OF REVENUES OVER EXPENDITURES - - 18,864 18,864
Fund Balances - October 1, 2011 - - 9,766 9,766
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 28,630 $ 28,630
(163) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL TOURIST DEVELOPMENT TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Taxes$ 312,536 $ 312,536 $ 305,526 $ (7,010) Net Change in Fair Value of Investments - - 1,931 1,931 Miscellaneous - - 2,000 2,000
Total Revenues 312,536 312,536 309,457 (3,079)
EXPENDITURES Current: Economic Environment: Industry Development 391,108 441,467 218,562 222,905
Total Expenditures 391,108 441,467 218,562 222,905
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (78,572) (128,931) 90,895 219,826
Fund Balances - October 1, 2011 78,572 128,931 564,723 435,792
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 655,618 $ 655,618
(164) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL DOMESTIC VIOLENCE TRAINING FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 5,972 $ 5,972 $ 6,565 $ 593 Net Change in Fair Value of Investments - - 170 170
Total Revenues 5,972 5,972 6,735 763
EXPENDITURES Current: Public Safety: Sheriff 5,972 5,972 - 5,972
Total Expenditures 5,972 5,972 - 5,972
EXCESS OF REVENUES OVER EXPENDITURES - - 6,735 6,735
Fund Balances - October 1, 2011 - - 47,217 47,217
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 53,952 $ 53,952
(165) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL FIRE INSPECTION AND SAFETY FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Licenses and Permits$ 400 $ 400 $ 526 $ 126 Charges for Services 7,100 7,100 4,830 (2,270) Net Change in Fair Value of Investments - - 255 255
Total Revenues 7,500 7,500 5,611 (1,889)
EXPENDITURES Current: Public Safety: Fire Control 9,750 9,754 4,209 5,545
Total Expenditures 9,750 9,754 4,209 5,545
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (2,250) (2,254) 1,402 3,656
Fund Balances - October 1, 2011 2,250 2,254 75,816 73,562
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 77,218 $ 77,218
(166) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL VENUS SPECIAL BENEFIT FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 25,818 $ 25,818 $ 26,860 $ 1,042 Net Change in Fair Value of Investments - - 445 445
Total Revenues 25,818 25,818 27,305 1,487
EXPENDITURES Current: Public Safety: Special Benefit Districts 30,285 30,285 12,134 18,151
Total Expenditures 30,285 30,285 12,134 18,151
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (4,467) (4,467) 15,171 19,638
Fund Balances - October 1, 2011 4,467 4,467 118,280 113,813
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 133,451 $ 133,451
(167) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL SEBRING PARKWAY MAINTENANCE FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental $ 31,097 $ 31,097 $ 71,989 $ 40,892 Net Change in Fair Value of Investments 500 500 1,244 744
Total Revenues 31,597 31,597 73,233 41,636
EXPENDITURES Current: Transportation: Special Benefit Districts 186,468 186,468 109,615 76,853
Total Expenditures 186,468 186,468 109,615 76,853
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (154,871) (154,871) (36,382) 118,489
OTHER FINANCING SOURCES (USES) Transfers In 72,395 72,395 54,378 (18,017)
Total Other Financing Sources (Uses) 72,395 72,395 54,378 (18,017)
NET CHANGE IN FUND BALANCE (82,476) (82,476) 17,996 100,472
Fund Balances - October 1, 2011 82,476 82,476 362,398 279,922
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 380,394 $ 380,394
(168) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL STATE COURT FACILITIES TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 240,000 $ 240,000 $ 242,659 $ 2,659 Net Change in Fair Value of Investments 600 600 3,527 2,927
Total Revenues 240,600 240,600 246,186 5,586
EXPENDITURES Current: Court Related: Operating Expenses 291,502 290,974 122,739 168,235
Total Expenditures 291,502 290,974 122,739 168,235
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (50,902) (50,374) 123,447 173,821
OTHER FINANCING USES Transfers Out (24,050) (24,619) (24,619) -
Total Other Financing Uses (24,050) (24,619) (24,619) -
NET CHANGE IN FUND BALANCE (74,952) (74,993) 98,828 173,821
Fund Balances - October 1, 2011 74,952 74,993 901,196 826,203
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 1,000,024 $ 1,000,024
(169) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL INNOVATIONS AND SUPPLEMENTAL COURTS FUNDING TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 99,200 $ 99,317 $ 93,060 $ (6,257) Net Change in Fair Value of Investments 400 402 1,257 855
Total Revenues 99,600 99,719 94,317 (5,402)
EXPENDITURES Current: Court Related: Operating Expenses 94,200 138,897 112,121 26,776
Total Expenditures 94,200 138,897 112,121 26,776
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 5,400 (39,178) (17,804) 21,374
OTHER FINANCING SOURCES (USES) Transfers In 19,400 87,289 100,554 13,265 Transfers Out (24,800) (48,111) (23,279) 24,832
Total Other Financing Sources (Uses) (5,400) 39,178 77,275 38,097
NET CHANGE IN FUND BALANCE - - 59,471 59,471
Fund Balances - October 1, 2011 - - 261,975 261,975
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 321,446 $ 321,446
(170) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL CRIME PREVENTION FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 36,000 $ 36,000 $ 39,948 $ 3,948 Net Change in Fair Value of Investments - - 523 523
Total Revenues 36,000 36,000 40,471 4,471
EXPENDITURES Current: Public Safety: Operating Expenses 36,000 36,000 36,000 -
Total Expenditures 36,000 36,000 36,000 -
EXCESS OF REVENUES OVER EXPENDITURES - - 4,471 4,471
Fund Balances - October 1, 2011 - - 157,963 157,963
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 162,434 $ 162,434
(171) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL COURT TECH 28.24(12)(E)1 FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Charges for Services$ 100,000 $ 100,000 $ 111,675 $ 11,675 Net Change in Fair Value of Investments - - 26 26 Miscellaneous - - 10,000 10,000
Total Revenues 100,000 100,000 121,701 21,701
EXPENDITURES Current: Court Related: Operating Expenses 443,328 375,969 297,596 78,373
Total Expenditures 443,328 375,969 297,596 78,373
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (343,328) (275,969) (175,895) 100,074
OTHER FINANCING SOURCES (USES) Transfers In 333,589 266,089 175,896 (90,193)
Total Other Financing Sources (Uses) 333,589 266,089 175,896 (90,193)
NET CHANGE IN FUND BALANCE (9,739) (9,880) 1 9,881
Fund Balances - October 1, 2011 9,739 9,880 2,237 (7,643)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 2,238 $ 2,238
(172) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HURRICANE HOUSING TRUST FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 65 $ 65
Total Revenues - - 65 65
EXPENDITURES Current: Economic Environment: Operating Expenses 195 65 65 -
Total Expenditures 195 65 65 -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (195) (65) - 65
Fund Balances - October 1, 2011 195 65 - (65)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ - $ -
(173) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HOME INITIATIVES PARTNERSHIP FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental $ 829,415 $ 963,113 $ 621,130 $ (341,983)
Total Revenues 829,415 963,113 621,130 (341,983)
EXPENDITURES Current: Economic Environment: Operating Expenses 879,415 1,013,113 620,971 392,142
Total Expenditures 879,415 1,013,113 620,971 392,142
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (50,000) (50,000) 159 50,159
Fund Balances - October 1, 2011 50,000 50,000 (56,372) (106,372)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ (56,213) $ (56,213)
(174) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL PLACID LAKES FIRE DISTRICT FUND YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 92,551 $ 92,551 $ 92,639 $ 88 Net Change in Fair Value of Investments 200 200 563 363
Total Revenues 92,751 92,751 93,202 451
EXPENDITURES Current: Public Safety: Special Benefit Districts 68,845 68,864 34,054 34,810
Total Public Safety 68,845 68,864 34,054 34,810
Debt Service: Principal Retirement 25,908 26,184 26,184 - Interest 5,250 4,973 4,973 -
Total Debt Service 31,158 31,157 31,157 -
Total Expenditures 100,003 100,021 65,211 34,810
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (7,252) (7,270) 27,991 35,261
Fund Balances - October 1, 2011 7,252 7,270 112,586 105,316
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 140,577 $ 140,577
(175) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL COURT SERVICES FUND (120) YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental $ 1,842,432 $ 1,398,778 $ 1,398,778 $ -
Total Revenues 1,842,432 1,398,778 1,398,778 -
EXPENDITURES Current: Court Related: Operating Expenses 1,842,432 1,398,778 1,398,778 -
Total Expenditures 1,842,432 1,398,778 1,398,778 -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES - - - -
Fund Balances - October 1, 2011 - - - -
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ - $ -
(176) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL COURT SERVICES FUND (121) YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Intergovernmental $ 1,723,090 $ 439,803 $ 439,803 $ -
Total Revenues 1,723,090 439,803 439,803 -
EXPENDITURES Current: Court Related: Operating Expenses 1,723,090 439,803 439,803 -
Total Expenditures 1,723,090 439,803 439,803 -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES - - - -
Fund Balances - October 1, 2011 - - - -
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ - $ -
(177) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL AFFORDABLE AND WORKFORCE TRUST YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 1,631 $ 1,631
Total Revenues - - 1,631 1,631
EXPENDITURES Current: Economic Environment: Operating Expenses 431,659 431,659 - 431,659
Total Expenditures 431,659 431,659 - 431,659
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (431,659) (431,659) 1,631 433,290
OTHER FINANCING USES Transfers Out - - (434,074) (434,074)
Total Other Financing Uses - - (434,074) (434,074)
NET CHANGE IN FUND BALANCE (431,659) (431,659) (432,443) (784)
Fund Balances - October 1, 2011 431,659 431,659 432,443 784
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ - $ -
(178) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - TRANSPORTATION - AVON PARK YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 771 $ 771
Total Revenues - - 771 771
EXPENDITURES Current: Transportation: Impact Fees 238,606 231,420 - 231,420
Total Expenditures 238,606 231,420 - 231,420
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (238,606) (231,420) 771 232,191
Fund Balances - October 1, 2011 238,606 231,420 238,843 7,423
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 239,614 $ 239,614
(179) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - TRANSPORTATION - LAKE PLACID YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 1,295 $ 1,295
Total Revenues - - 1,295 1,295
EXPENDITURES Current: Transportation: Impact Fees 421,937 403,370 - 403,370
Total Expenditures 421,937 403,370 - 403,370
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (421,937) (403,370) 1,295 404,665
Fund Balances - October 1, 2011 421,937 403,370 422,292 18,922
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 423,587 $ 423,587
(180) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - TRANSPORTATION - SEBRING YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 184 $ 184
Total Revenues - - 184 184
EXPENDITURES Current: Transportation: Impact Fees 49,810 3,581 - 3,581
Total Expenditures 49,810 3,581 - 3,581
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (49,810) (3,581) 184 3,765
Fund Balances - October 1, 2011 49,810 3,581 48,895 45,314
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 49,079 $ 49,079
(181) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - PARKS AND RECREATION - AVON PARK YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 17 $ 17
Total Revenues - - 17 17
EXPENDITURES Current: Culture and Recreation: Impact Fees 4,492 3,798 - 3,798
Total Expenditures 4,492 3,798 - 3,798
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (4,492) (3,798) 17 3,815
Fund Balances - October 1, 2011 4,492 3,798 4,499 701
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 4,516 $ 4,516
(182) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - PARKS AND RECREATION - LAKE PLACID YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 6 $ 6
Total Revenues - - 6 6
EXPENDITURES Current: Culture and Recreation: Impact Fees 1,667 158 - 158
Total Expenditures 1,667 158 - 158
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,667) (158) 6 164
Fund Balances - October 1, 2011 1,667 158 1,669 1,511
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 1,675 $ 1,675
(183) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - PARKS AND RECREATION - SEBRING YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 51 $ 51
Total Revenues - - 51 51
EXPENDITURES Current: Culture and Recreation: Impact Fees 16,461 13,517 - 13,517
Total Expenditures 16,461 13,517 - 13,517
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (16,461) (13,517) 51 13,568
Fund Balances - October 1, 2011 16,461 13,517 16,476 2,959
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 16,527 $ 16,527
(184) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - CORRECTIONAL FACILITIES YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 14 $ 14
Total Revenues - - 14 14
EXPENDITURES Current: Public Safety: Impact Fees 4,405 - - -
Total Expenditures 4,405 - - -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (4,405) - 14 14
Fund Balances - October 1, 2011 4,405 - 4,442 4,442
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 4,456 $ 4,456
(185) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE – FIRE YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 19 $ 19
Total Revenues - - 19 19
EXPENDITURES Current: Public Safety: Impact Fees 9,133 4,107 - 4,107
Total Expenditures 9,133 4,107 - 4,107
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (9,133) (4,107) 19 4,126
Fund Balances - October 1, 2011 9,133 4,107 4,701 594
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 4,720 $ 4,720
(186) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - LIBRARIES YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 45 $ 45
Total Revenues - - 45 45
EXPENDITURES Current: Culture and Recreation: Impact Fees 70,847 69,281 34,629 34,652
Total Expenditures 70,847 69,281 34,629 34,652
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (70,847) (69,281) (34,584) 34,697
Fund Balances - October 1, 2011 70,847 69,281 36,273 (33,008)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 1,689 $ 1,689
(187) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - LAW ENFORCEMENT YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 5 $ 5
Total Revenues - - 5 5
EXPENDITURES Current: Public Safety: Impact Fees 1,283 - - -
Total Expenditures 1,283 - - -
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,283) - 5 5
Fund Balances - October 1, 2011 1,283 - 1,302 1,302
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 1,307 $ 1,307
(188) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL IMPACT FEE - EMERGENCY MEDICAL SERVICES YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Net Change in Fair Value of Investments$ - $ - $ 3 $ 3
Total Revenues - - 3 3
EXPENDITURES: Current: Public Safety: Impact Fees 1,005 414 - 414
Total Expenditures 1,005 414 - 414
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES (1,005) (414) 3 417
Fund Balances - October 1, 2011 1,005 414 1,007 593
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ 1,010 $ 1,010
(189) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL THUNDERBIRD HILL WASTE WATER SPECIAL BENEFIT DISTRICT YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative)
REVENUES Assessments$ 16,910 $ 17,175 $ 17,294 $ 119 Net Change in Fair Value of Investments - - 313 313
Total Revenues 16,910 17,175 17,607 432
EXPENDITURES Current: Physical Environment: Special Benefit District 1,466 1,730 1,602 128
Total Physical Environment 1,466 1,730 1,602 128
Debt Service: Principal Retirement 11,666 11,666 - 11,666 Interest 3,778 3,779 3,779 -
Total Debt Service 15,444 15,445 3,779 11,666
Total Expenditures 16,910 17,175 5,381 11,794
EXCESS OF REVENUES OVER EXPENDITURES - - 12,226 12,226
Fund Balances - October 1, 2011 - - (113,798) (113,798)
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ (101,572) $ (101,572)
(190) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL HCISSRB CONSTRUCTION YEAR ENDED SEPTEMBER 30, 2012
Variance with Final Budget Budget Positive Original Final Actual (Negative) REVENUES Total Revenues$ - $ - $ - $ -
EXPENDITURES Debt Service: Interest 2,456 - - -
Total Debt Service 2,456 - - -
Total Expenditures 2,456 - - -
DEFICIENCY OF REVENUES UNDER EXPENDITURES (2,456) - - -
OTHER FINANCING USES Transfers Out - (2,456) (2,456) -
Total Other Financing Uses - (2,456) (2,456) -
NET CHANGE IN FUND BALANCE (2,456) (2,456) (2,456) -
Fund Balances - October 1, 2011 2,456 2,456 2,456 -
FUND BALANCES - SEPTEMBER 30, 2012 $ - $ - $ - $ -
(191) HIGHLANDS COUNTY, FLORIDA NONMAJOR ENTERPRISE FUNDS
Enterprise funds account for activities for which a fee is charged to external users for goods or services. The purpose of the individual nonmajor funds is depicted as follows:
Highway Park Utility - To account for the water and sewer services provided by the County to Highway Park in Lake Placid.
Water and Sewer - To account for the facilities and administration relating to residential and commercial sewer and water services provided to residents of Lake Placid, including debt service payments on the water utilities system long-term debt and to further construct and expand the system.
Operations of the Highway Park Utility and Water and Sewer funds were transferred to the Town of Lake Placid on June 1, 2012 through an Interlocal agreement. See Note 19 in the Notes to the Financial Statements.
(192) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF NET ASSETS NONMAJOR ENTERPRISE FUNDS SEPTEMBER 30, 2012
Enterprise Funds Highway Water and Park Utility Sewer Total ASSETS Total Assets$ - $ - $ -
LIABILITIES Total Liabilities - - -
NET ASSETS Total Net Assets$ - $ - $ -
(193) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS NONMAJOR ENTERPRISE FUNDS YEAR ENDED SEPTEMBER 30, 2012
Enterprise Funds Highway Water and Park Utility Sewer Total OPERATING REVENUES Charges for Services$ 72,926 $ 425,516 $ 498,442 Miscellaneous 18,451 1,314 19,765 Total Operating Revenues 91,377 426,830 518,207
OPERATING EXPENSES Personal Services 16,888 60,313 77,201 General and Administrative 44,131 152,056 196,187 Depreciation 27,458 72,148 99,606 Total Operating Expenses 88,477 284,517 372,994
Operating Income 2,900 142,313 145,213
NONOPERATING REVENUES (EXPENSES) Net Change in Fair Value of Investments 660 1,036 1,696 Water Impact Fees 750 10,500 11,250 Interest Expense - (8,431) (8,431) Loss on Disposal of Capital Assets (1,346) (7,630) (8,976) Total Nonoperating Revenues (Expenses), Net 64 (4,525) (4,461)
INCOME BEFORE SPECIAL ITEMS AND TRANSFERS 2,964 137,788 140,752
Special Item: Loss on Transfer of Assets to Municipality (1,335,143) (1,980,187) (3,315,330)
CHANGE IN NET ASSETS (1,332,179) (1,842,399) (3,174,578)
Net Assets, October 1, 2011 1,332,179 1,842,399 3,174,578
TOTAL NET ASSETS, SEPTEMBER 30, 2012 $ - $ - $ -
(194) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS YEAR ENDED SEPTEMBER 30, 2012
Enterprise Funds Highway Water and Park Utility Sewer Total CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Customers$ 108,234 $ 420,824 $ 529,058 Cash Payments for Personal Services (20,199) (103,356) (123,555) Cash Payments to Vendors (52,241) (192,027) (244,268) Customer Deposits (16,120) (57,849) (73,969) Net Cash Provided by Operating Activities 19,674 67,592 87,266
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Impact Fees Received 750 10,500 11,250 Net Cash Provided by Noncapital Financing Activities 750 10,500 11,250
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Principal Payments on Borrowings - (355,570) (355,570) Interest Payments on Borrowings - (13,222) (13,222) Net Cash Used by Capital and Related Financing Activities - (368,792) (368,792)
CASH FLOWS FROM INVESTING ACTIVITIES Loss on Transfer of Assets and Liabilities to Other Government (295,844) (135,514) (431,358) Net Investment Income 660 1,036 1,696 Net Cash Used by Investing Activities (295,184) (134,478) (429,662)
NET DECREASE IN CASH AND CASH EQUIVALENTS (274,760) (425,178) (699,938)
Cash and Cash Equivalents - October 1, 2011 274,760 425,178 699,938
CASH AND CASH EQUIVALENTS - SEPTEMBER 30, 2012 $ - $ - $ -
(195) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Enterprise Funds Highway Water and Park Utility Sewer Total
RECONCILIATION OF NET OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating Income$ 2,900 $ 142,313 $ 145,213 Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Activities: Depreciation 27,458 72,148 99,606 Changes in Assets and Liabilities: (Increase) Decrease in Accounts Receivable 17,358 3,901 21,259 Increase (Decrease) in Vouchers Payable (2,326) (12,508) (14,834) Increase (Decrease) in Due to Other Funds (5,784) (27,463) (33,247) Increase (Decrease) in Accrued Wages Payable (301) (1,598) (1,899) Increase (Decrease) in Compensated Absences (3,010) (17,028) (20,038) Increase (Decrease) in Deferred Revenues (501) (9,907) (10,408) Increase (Decrease) in Customer Deposits (16,120) (57,849) (73,969) Increase (Decrease) in Other Postemployment Benefits - (24,417) (24,417) Total Adjustments 16,774 (74,721) (57,947)
Net Cash Provided by Operating Activities$ 19,674 $ 67,592 $ 87,266
(196) HIGHLANDS COUNTY, FLORIDA INTERNAL SERVICE FUNDS
The Internal Service Funds account for the financing of goods or services provided by one department or agency to other departments or agencies of the Board and to other governmental units on a cost reimbursement basis. The Board maintains the following Internal Service Funds:
Risk Retention - To account for possible future claims related to the previous self-insurance of the general liability, property and workers’ compensation needs of County departments and elected officials.
Employee Benefit - To account for employer, employee and retiree contributions to the County's dental plan and the payment of dental expenses.
Insurance - To account for activity related to property, general liability, public officials and employment practices liability, automobile, crime and worker’s compensation needs of County departments and elected officials.
Compensated Absences - To account for accumulated annual and sick leave which will be paid to employees upon termination of employment.
(197) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS SEPTEMBER 30, 2012
Risk Employee Compensated Retention Benefit Insurance Absences Fund Fund Fund Fund Total ASSETS Current Assets: Cash and Cash Equivalents$ - $ 724,539 $ 360,958 $ 4,496,575 $ 5,582,072 Investments - - - 176,170 176,170 Total Assets - 724,539 360,958 4,672,745 5,758,242
LIABILITIES Current Liabilities: Vouchers Payable - 12,999 - 40 13,039 Claims Payable - 21,685 - - 21,685 Deferred Revenues - 317,513 - - 317,513 Total Current Liabilities - 352,197 - 40 352,237
Noncurrent Liabilities: Compensated Absences - - - 4,672,705 4,672,705 Total Liabilities - 352,197 - 4,672,745 5,024,942
NET ASSETS Unrestricted - 372,342 360,958 - 733,300 Total Net Assets$ - $ 372,342 $ 360,958 $ - $ 733,300
(198) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS INTERNAL SERVICE FUNDS YEAR ENDED SEPTEMBER 30, 2012
Risk Employee Compensated Retention Benefit Insurance Absences Fund Fund Fund Fund Total OPERATING REVENUES Miscellaneous Income$ - $ 215,047 $ 1,247,304 $ 803,005 $ 2,265,356 Total Operating Revenues - 215,047 1,247,304 803,005 2,265,356
OPERATING EXPENSES General and Administrative - 26,139 - 826,890 853,029 Insurance and Claims - 204,101 1,237,776 - 1,441,877 Total Operating Expenses - 230,240 1,237,776 826,890 2,294,906
Operating Income (Loss) - (15,193) 9,528 (23,885) (29,550)
NONOPERATING REVENUES Net Change in Fair Value of Investments 8,405 1,620 38 23,885 33,948 Total Nonoperating Revenues 8,405 1,620 38 23,885 33,948
INCOME (LOSS) BEFORE TRANSFERS 8,405 (13,573) 9,566 - 4,398
Transfers Out (2,236,696) - - - (2,236,696)
CHANGE IN NET ASSETS (2,228,291) (13,573) 9,566 - (2,232,298)
Net Assets, October 1, 2011 2,228,291 385,915 351,392 - 2,965,598
NET ASSETS, SEPTEMBER 30, 2012 $ - $ 372,342 $ 360,958 $ - $ 733,300
(199) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS SEPTEMBER 30, 2012
Risk Employee Retention Benefit Fund Fund CASH FLOWS FROM OPERATING ACTIVITIES Cash Received from Customers$ - $ 533,081 Cash Paid to Suppliers for Goods and Services - (231,566) Cash Paid to Employees for Services - - Net Cash Provided by Operating Activities - 301,515
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers to Other Funds (2,236,696) - Net Cash Used by Noncapital Related Financing Activities (2,236,696) -
CASH FLOWS FROM INVESTING ACTIVITIES Sale of Investments - - Net Investment Income 8,405 1,620 Net Cash Provided by Investing Activities 8,405 1,620
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (2,228,291) 303,135
Cash and Cash Equivalents - October 1, 2011 2,228,291 421,404
CASH AND CASH EQUIVALENTS - SEPTEMBER 30, 2012 $ - $ 724,539
RECONCILIATION OF NET OPERATING INCOME (LOSS) TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating Income (Loss)$ - $ (15,193) Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by Operating Activities: Changes in Assets and Liabilities: (Increase) Decrease in Accounts Receivable - 349 (Increase) Decrease in Due from Other Governmental Units - 172 Increase (Decrease) in Vouchers Payable - 2,759 Increase (Decrease) in Accrued Wages Payable - - Increase (Decrease) in Claims Payable - (4,085) Increase (Decrease) in Due to Others - - Increase (Decrease) in Compensated Absences - - Increase (Decrease) in Deferred Revenues - 317,513 Total Adjustments - 316,708
Net Cash Provided by Operating Activities$ - $ 301,515
(200)
Compensated Insurance Absences Fund Fund Total
$ 1,247,304 $ 814,252 $ 2,594,637 (1,237,894) - (1,469,460) - (770,913) (770,913) 9,410 43,339 354,264
- - (2,236,696)
- - (2,236,696)
- 13,825 13,825 38 7,444 17,507 38 21,269 31,332
9,448 64,608 (1,851,100)
351,510 4,431,967 7,433,172
$ 360,958 $ 4,496,575 $ 5,582,072
$ 9,528 $ (23,885) $ (29,550)
- - 349 - - 172 - 4 2,763 - (846) (846) (118) - (4,203) - (97) (97) - 68,163 68,163 - - 317,513 (118) 67,224 383,814
$ 9,410 $ 43,339 $ 354,264
(201) HIGHLANDS COUNTY, FLORIDA TRUST AND AGENCY FUNDS (FIDUCIARY FUNDS)
These funds account for assets held by the County in a trustee capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds.
The County maintains the following Fiduciary Funds:
Agency Funds:
Sheriff's Inmates - To account for monies collected from inmates who have money in their possession at the time of their arrest and subsequent incarceration.
Sheriff's Cash Bonds - To account for cash appearance bonds. These funds are maintained until disposition is ordered by the court.
Sheriff’s Unclaimed Evidence - To account for monies seized by law enforcement. These funds are maintained until final determination by the court.
Sheriff's Individual Depositors - To account for fees charged to serve civil process. Fees are collected and held until service is complete and then remitted to other governmental agencies.
Sheriff's Suspense - To account for fees and court ordered payments collected for various agencies. These funds are remitted to the County or other governmental agencies.
Tax Collector's Tag Agency - Used by the Collector to account for motor vehicle and vessel registrations and title transfer fees remitted to the State of Florida.
Tax Collector's Tax and License - Used by the Collector to account for the collection of ad valorem and non-ad valorem taxes, tangible personal property taxes, occupational licenses, and hunting and fishing licenses remitted to various taxing agencies and the State of Florida.
Tax Collector's Tax Redemption - Used by the Collector to account for the collection of redeemed tax certificates issued in connection with delinquent ad valorem taxes and remittance to the certificate holders.
Tax Collector's Special Payroll - Used by the Collector to account for payroll deductions withheld from the Collector's employees for remittance to other governmental agencies and benefits paid on behalf of employees by the Collector.
Clerk's Child Support - To account for child support and/or alimony payments collected by the Clerk and remitted to the appropriate recipients.
(202) HIGHLANDS COUNTY, FLORIDA TRUST AND AGENCY FUNDS (CONTINUED) (FIDUCIARY FUNDS)
Clerk's Suspense - To account for amounts collected through various court, recording and tax deed application transactions that are to be remitted to other governmental agencies, businesses, and individuals.
Board’s Agency Escrow - To account for the collection of funds held in escrow by the Board.
Board's Tax Deed Surplus - To account for funds paid in excess of the delinquent taxes, fees and other costs due on real property sold through the tax deed process. Prior to July 1, 2011 these funds are held for two years in accordance with the provisions of Section 197.582, Florida Statutes, and, unless claimed by the original property owner, they are transferred to the General Fund and become property of the County. Effective July 1, 2011 funds are held by the Clerk of Courts for one year and remitted as unclaimed property.
Board's Hospital District Pass Thru - To account for the transfer of funds between the Board of County Commissioners and the Highlands County Hospital District. Funds are required to be used exclusively for health services in Highlands County.
(203) HIGHLANDS COUNTY, FLORIDA COMBINING STATEMENT OF FIDUCIARY NET ASSETS AGENCY FUNDS SEPTEMBER 30, 2012
Sheriff's Sheriff's Tax Sheriff's Sheriff's Unclaimed Individual Sheriff's Collector's Inmates Cash Bonds Evidence Depositors Suspense Tag Agency ASSETS Cash and Cash Equivalents$ 17,091 $ - $ 64,572 $ 2,250 $ 1,764 $ 155,507 Investments ------Due from Others 4,681 - - - - 2,852 Due from Other Governmental Units - - - - 1,126 - Total Assets$ 21,772 $ - $ 64,572 $ 2,250 $ 2,890 $ 158,359
LIABILITIES Vouchers Payable$ 7,694 $ - $ - $ - $ - $ - Due to Others 2,854 - 64,572 2,250 - 1,643 Due to Other Governmental Units 11,224 - - - 2,890 156,716 Deposits ------Tax Deed Surplus ------Total Liabilities$ 21,772 $ - $ 64,572 $ 2,250 $ 2,890 $ 158,359
(204)
Tax Tax Tax Board's Collector's Collector's Collector's Clerk's Board's Board's Hospital Tax and Tax Special Child Clerk's Agency Tax Deed District License Redemption Payroll Support Suspense Escrow Surplus Pass Thru Total
$ 1,213,327 $ 73,593 $ - $ 3,055 $ 765,261 $ - $ 36,990 $ - $ 2,333,410 - - - - 233,984 - - - 233,984 - - - - 119 - - - 7,652 - - - - 1,561 - - - 2,687 $ 1,213,327 $ 73,593 $ - $ 3,055 $ 1,000,925 $ - $ 36,990 $ - $ 2,577,733
$ - $ - $ - $ - $ 6,022 $ - $ - $ - $ 13,716 386 73,593 - 3,055 117,331 - - - 265,684 1,212,941 - - - 365,321 - - - 1,749,092 - - - - 512,251 - - - 512,251 ------36,990 - 36,990 $ 1,213,327 $ 73,593 $ - $ 3,055 $ 1,000,925 $ - $ 36,990 $ - $ 2,577,733
(205) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS YEAR ENDED SEPTEMBER 30, 2012
Balance Balance October 1, September 30, 2011 Additions Deductions 2012
SHERIFF'S INMATES ASSETS Cash and Cash Equivalents$ 25,586 $ 423,070 $ 431,565 $ 17,091 Due from Others 5,077 169,501 169,897 4,681 Total Assets$ 30,663 $ 592,571 $ 601,462 $ 21,772
LIABILITIES Vouchers Payable$ 1,957 $ 135,759 $ 130,022 $ 7,694 Due to Others 18,369 436,598 452,113 2,854 Due to Other Governmental Units 10,337 197,884 196,997 11,224 Total Liabilities$ 30,663 $ 770,241 $ 779,132 $ 21,772
SHERIFF'S CASH BONDS ASSETS Cash and Cash Equivalents$ 1,250 $ 208,924 $ 210,174 $ -
LIABILITIES Vouchers Payable$ - $ 208,763 $ 208,763 $ - Deposits 1,250 207,513 208,763 - Total Liabilities$ 1,250 $ 416,276 $ 417,526 $ -
SHERIFF'S UNCLAIMED EVIDENCE ASSETS Cash and Cash Equivalents$ 55,040 $ 49,200 $ 39,668 $ 64,572
LIABILITIES Due to Others$ 55,040 $ 52,751 $ 43,219 $ 64,572
SHERIFF'S INDIVIDUAL DEPOSITORS ASSETS Cash and Cash Equivalents$ 23,692 $ 107,678 $ 129,120 $ 2,250
LIABILITIES Vouchers Payable$ - $ 130,064 $ 130,064 $ - Due to Others 23,692 109,385 130,827 2,250 Total Liabilities$ 23,692 $ 239,449 $ 260,891 $ 2,250
(206) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Balance Balance October 1, September 30, 2011 Additions Deductions 2012
SHERIFF'S SUSPENSE ASSETS Cash and Cash Equivalents$ 5,410 $ 268,880 $ 272,526 $ 1,764 Due from Other Governmental Units 379 4,422 3,675 1,126 Total Assets$ 5,789 $ 273,302 $ 276,201 $ 2,890
LIABILITIES Vouchers Payable$ 227 $ 272,530 $ 272,757 $ - Due to Other Governmental Units 5,562 273,283 275,955 2,890 Total Liabilities$ 5,789 $ 545,813 $ 548,712 $ 2,890
TAX COLLECTOR'S TAG AGENCY ASSETS Cash and Cash Equivalents$ 227,809 $ 12,064,685 $ 12,136,987 $ 155,507 Due from Others 2,377 12,391 11,916 2,852 Total Assets$ 230,186 $ 12,077,076 $ 12,148,903 $ 158,359
LIABILITIES Vouchers Payable$ - $ 84,324 $ 84,324 $ - Due to Others 559 112,584 111,500 1,643 Due to Other Governmental Units 229,627 11,975,608 12,048,519 156,716 Total Liabilities$ 230,186 $ 12,172,516 $ 12,244,343 $ 158,359
TAX COLLECTOR'S TAX AND LICENSE ASSETS Cash and Cash Equivalents$ 1,181,605 $ 199,123,964 $ 199,092,242 $ 1,213,327
LIABILITIES Vouchers Payable$ - $ 86,482,991 $ 86,482,991 $ - Due to Others 2,640 184,455 186,709 386 Due to Other Governmental Units 1,178,965 90,421,467 90,387,491 1,212,941 Total Liabilities$ 1,181,605 $ 177,088,913 $ 177,057,191 $ 1,213,327
(207) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Balance Balance October 1, September 30, 2011 Additions Deductions 2012
TAX COLLECTOR'S TAX REDEMPTION ASSETS Cash and Cash Equivalents$ 61,003 $ 5,254,598 $ 5,242,008 $ 73,593
LIABILITIES Vouchers Payable$ - $ 5,020,153 $ 5,020,153 $ - Due to Others 61,003 5,270,860 5,258,270 73,593 Total Liabilities$ 61,003 $ 10,291,013 $ 10,278,423 $ 73,593
TAX COLLECTOR'S SPECIAL PAYROLL ASSETS Cash and Cash Equivalents$ - $ 93,524,621 $ 93,524,621 $ -
LIABILITIES Vouchers Payable$ - $ 93,128,584 $ 93,128,584 $ - Accrued Payroll Deductions and Matching Expense - 702,247 702,247 - Total Liabilities$ - $ 93,830,831 $ 93,830,831 $ -
CLERK'S CHILD SUPPORT ASSETS Cash and Cash Equivalents$ 1,465 $ 1,246,777 $ 1,245,187 $ 3,055
LIABILITIES Due to Others$ 1,465 $ 1,241,169 $ 1,239,579 $ 3,055
(208) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Balance Balance October 1, September 30, 2011 Additions Deductions 2012
CLERK'S SUSPENSE ASSETS Cash and Cash Equivalents$ 836,175 $ 10,355,609 $ 10,426,523 $ 765,261 Investments 232,814 1,170 - 233,984 Due from Others 742 4,973 5,596 119 Due from Other Governmental Units 1,165 10,663 10,267 1,561 Total Assets$ 1,070,896 $ 10,372,415 $ 10,442,386 $ 1,000,925
LIABILITIES Vouchers Payable$ 5,702 $ 2,671,076 $ 2,670,756 $ 6,022 Due to Others 122,998 623,667 629,334 117,331 Due to Other Governmental Units 391,484 8,702,821 8,728,984 365,321 Deposits 550,712 918,249 956,710 512,251 Total Liabilities$ 1,070,896 $ 12,915,813 $ 12,985,784 $ 1,000,925
BOARD'S AGENCY ESCROW FUND ASSETS Cash and Cash Equivalents$ 29,700 $ - $ 29,700 $ -
LIABILITIES Vouchers Payable$ - $ 29,700 $ 29,700 $ - Due to Others 29,700 - 29,700 - Total Liabilities$ 29,700 $ 29,700 $ 59,400 $ -
BOARD'S TAX DEED SURPLUS ASSETS Cash and Cash Equivalents$ 96,198 $ - $ 59,208 $ 36,990
LIABILITIES Tax Deed Surplus$ 96,198 $ 45,958 $ 105,166 $ 36,990
(209) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
Balance Balance October 1, September 30, 2011 Additions Deductions 2012
BOARD'S HOSPITAL DISTRICT PASS THRU FUND ASSETS Due from Other Governmental Units$ 30,207 $ - $ 30,207 $ -
LIABILITIES Due to Others$ 30,207 $ - $ 30,207 $ -
TOTAL ALL AGENCY FUNDS ASSETS Cash and Cash Equivalents$ 2,544,933 $ 322,628,006 $ 322,839,529 $ 2,333,410 Investments 232,814 1,170 - 233,984 Due from Others 8,196 186,865 187,409 7,652 Due from Other Governmental Units 31,751 15,085 44,149 2,687 Total Assets$ 2,817,694 $ 322,831,126 $ 323,071,087 $ 2,577,733
LIABILITIES Vouchers Payable$ 7,886 $ 188,163,944 $ 188,158,114 $ 13,716 Due to Others 345,673 8,031,469 8,111,458 265,684 Due to Other Governmental Units 1,815,975 111,571,063 111,637,946 1,749,092 Accrued Payroll Deductions and Matching Expense - 702,247 702,247 - Deposits 551,962 1,125,762 1,165,473 512,251 Tax Deed Surplus 96,198 45,958 105,166 36,990 Total Liabilities$ 2,817,694 $ 309,640,443 $ 309,880,404 $ 2,577,733
(210) STATISTICAL SECTION HIGHLANDS COUNTY, FLORIDA STATISTICAL SECTION
This section of the County's Comprehensive Annual Financial Report represents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information says about the County's overall financial health.
Contents Page
Financial Trends These schedules contain trend information to help the reader understand how the County's financial performance and well-being have changed over time. Net Assets by Components, Last Ten Fiscal Years ...... 212 Changes in Net Assets, Last Ten Fiscal Years ...... 213 FundBalances,GovernmentalFunds,LastTenFiscalYears...... 217 Change in Fund Balances, Governmental Funds, Last Ten Fiscal Years ...... 218
Revenue Capacity These schedules contain information to help the reader assess the County's most significant local revenue source, ad valorem taxes. Taxable Value and Actual Value of Property, Last Ten Fiscal Years ...... 220 Direct and Overlapping Property Tax Rates, Last Ten Fiscal Years ...... 221 PrincipalPropertyTaxPayers,CurrentFiscalYearandTenYearsPrior...... 222 Property Tax Levies and Collections, Last Ten Fiscal Years...... 223
Debt Capacity These schedules present information to help the reader assess the affordability of the County's current levels of outstanding debt and the County's ability to issue additional debt in the future. RatiosofOutstandingDebtbyType,LastTenFiscalYears...... 224 Ratios of General Bonded Debt Outstanding, Last Ten Fiscal Years ...... 226 Overlapping Governmental Activities Debt, As of September 30, 2012 ...... 227 Pledged-Revenue Coverage, Last Ten Fiscal Years ...... 228 The table which concerns computation of legal debt margins is omitted because the Constitution of the State of Florida, Section 200.181, Florida Statutes, and Highlands County set no legal debt limit.
Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment which the County's financial activities take place. DemographicandEconomicStatistics,LastTenFiscalYears...... 229 PrincipalEmployers,CurrentFiscalYearandTenYearsPrior...... 230
Operating Information These schedules contain service and capital asset data to help the reader understand how the information in the County's financial report relates to the services provided by the County and the activities it performs.
Full-time Equivalent County Government Employees by Function, Last Ten Fiscal Years ...... 231 OperatingIndicatorsbyFunction...... 232 Capital Asset by Function ...... 235
Sources: Unless otherwise noted, the information contained in the schedules in this Statistical Section are derived from the comprehensive annual financial reports for the relevant year. Highlands County implemented GASB Statement No. 34 in 2003; schedules presenting government-wide information include information beginning in that year.
(211) HIGHLANDS COUNTY, FLORIDA NET ASSETS BY COMPONENTS LAST TEN FISCAL YEARS (IN THOUSANDS)
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 GOVERNMENTAL ACTIVITIES Invested in Capital Assets, Net of Related Debt$ 186,017 $ 185,195 $ 180,707 $ 159,411 $ 151,795 $ 136,608 $ 126,605 $ 121,407 $ 116,471 $ 105,927 Restricted 43,995 2 4,904 5,928 5,577 8,973 13,195 12,636 13,707 17,801 Unrestricted 17,406 60,372 61,169 61,741 63,565 62,836 49,418 40,485 25,183 23,289 Total Governmental Activities Net Assets$ 247,418 $ 245,569 $ 246,780 $ 227,080 $ 220,937 $ 208,417 $ 189,218 $ 174,528 $ 155,361 $ 147,017
BUSINESS-TYPE ACTIVITIES Invested in Capital Assets, Net of Related Debt$ 9,954 $ 12,797 $ 12,884 $ 12,712 $ 11,336 $ 10,475 $ 10,010 $ 10,123 $ 9,685 $ 9,844 Restricted - 43 43 43 43 43 43 43 - 44 Unrestricted 2,734 2,504 1,862 2,394 5,715 5,585 5,584 4,682 4,489 1,137 Total Business-Type Activities Net Assets$ 12,688 $ 15,344 $ 14,789 $ 15,149 $ 17,094 $ 16,103 $ 15,637 $ 14,848 $ 14,174 $ 11,025
PRIMARY GOVERNMENT Invested in Capital Assets, Net of Related Debt$ 195,971 $ 197,992 $ 193,591 $ 172,123 $ 163,131 $ 147,083 $ 136,615 $ 131,530 $ 126,156 $ 115,771 Restricted 43,995 45 4,947 5,971 5,620 9,016 13,238 12,679 13,707 17,845 Unrestricted 20,140 62,876 63,031 64,135 69,280 68,421 55,002 45,167 29,672 24,426 Total Primary Government Net Assets$ 260,106 $ 260,913 $ 261,569 $ 242,229 $ 238,031 $ 224,520 $ 204,855 $ 189,376 $ 169,535 $ 158,042
Note: 2009 numbers have been restated from prior year due to the retroactive reporting requirement of GASB 51 for Infrastructure Assets.
(212) HIGHLANDS COUNTY, FLORIDA CHANGES IN NET ASSETS LAST TEN FISCAL YEARS
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 EXPENSES Governmental Activities: General Government$ 15,726,969 $ 18,086,207 $ 15,153,253 $ 19,968,990 $ 21,162,088 $ 19,309,283 $ 17,311,569 $ 15,043,416 $ 12,174,487 $ 10,445,874 Public Safety 36,008,957 37,834,107 39,105,729 39,023,524 39,539,716 37,587,087 32,707,118 29,138,885 26,415,525 25,642,705 Physical Environment 1,391,528 1,839,208 1,642,807 1,701,146 1,558,585 1,445,740 1,475,436 1,146,635 1,240,704 1,471,317 Transportation 13,730,299 12,263,525 11,561,212 13,388,256 13,075,768 15,067,226 11,336,681 10,117,959 10,783,574 10,993,934 Economic Environment 2,571,305 2,908,356 3,461,633 4,526,853 5,204,115 7,526,683 3,286,915 1,778,190 3,396,508 1,820,635 Human Services 3,298,713 2,939,280 2,766,189 3,191,173 3,088,096 2,696,525 2,267,454 2,550,432 2,300,600 2,539,159 Culture and Recreation 2,919,597 3,289,267 3,540,024 3,923,557 3,635,532 3,290,438 3,119,978 2,285,674 2,556,588 2,579,957 Court Related 4,046,362 2,133,649 2,275,428 3,804,237 4,784,819 4,519,434 4,428,799 4,066,663 3,766,910 4,034,636 Debt Service: Interest on Long-Term Debt 294,638 443,410 854,292 958,961 1,008,366 633,515 1,072,180 997,479 1,005,415 1,537,524 Other Debt Service - - - - - 4,435 3,715 3,997 3,314 8,898 Total Governmental Activities Expenses 79,988,368 81,737,009 80,360,567 90,486,697 93,057,085 92,080,366 77,009,845 67,129,330 63,643,625 61,074,639
Business-Type Activities: Solid Waste 8,304,132 8,226,418 8,741,009 9,390,492 9,395,253 9,292,480 9,033,198 8,365,204 7,107,739 8,661,065 Water and Sewer 300,578 499,896 614,668 719,812 771,680 797,427 707,697 707,207 526,183 528,148 Highway Park Utility 89,823 140,108 140,377 171,354 179,888 192,073 166,666 156,264 116,331 125,874 Energy Recovery 2,413,568 2,005,691 2,100,444 2,211,423 173,975 27,833 - - - - Total Business-Type Activities Expenses 11,108,101 10,872,113 11,596,498 12,493,081 10,520,796 10,309,813 9,907,561 9,228,675 7,750,253 9,315,087
Total Primary Government Expenses$ 91,096,469 $ 92,609,122 $ 91,957,065 $ 102,979,778 $ 103,577,881 $ 102,390,179 $ 86,917,406 $ 76,358,005 $ 71,393,878 $ 70,389,726
PROGRAM REVENUES Governmental Activities: Charges for Services: General Government$ 2,802,300 $ 2,815,601 $ 2,806,369 $ 4,772,852 $ 5,499,361 $ 5,738,638 $ 4,817,950 $ 3,306,051 $ 2,250,153 $ 2,030,220 Public Safety 6,766,009 6,573,661 6,493,030 6,197,193 5,923,168 7,386,221 6,996,469 6,653,507 5,740,591 5,576,672 Physical Environment 248,362 230,925 195,153 118,093 109,388 194,114 214,099 197,156 190,731 144,910 Transportation 1,762,758 2,001,802 2,203,767 2,567,381 2,221,887 2,403,335 1,770,813 991,141 849,634 737,314 Economic Environment - - - - - 12,500 - - 50 - Human Services 107,859 89,708 81,750 148,869 81,145 79,823 81,771 56,207 38,001 39,460 Culture and Recreation 230,599 231,266 433,233 457,156 690,455 882,273 232,243 224,711 150,486 138,709 Court Related 2,761,810 3,039,109 2,797,922 3,104,665 3,737,205 4,151,942 4,170,953 3,398,645 2,384,219 1,709,947
(213) HIGHLANDS COUNTY, FLORIDA CHANGES IN NET ASSETS LAST TEN FISCAL YEARS (CONTINUED)
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 PROGRAM REVENUES (CONTINUED): Governmental Activities (Continued): Operating Grants and Contributions: General Government 230,402 250,310 231,849 230,248 205,450 48,961 146,106 195,594 1,015,001 566,434 Public Safety 1,091,644 818,288 2,207,940 1,259,652 1,363,811 741,103 1,055,670 679,399 417,094 438,249 Physical Environment 519,960 950,632 424,632 562,796 342,730 391,634 533,650 288,508 619,717 548,717 Transportation 675,645 7,466 9,753 - - 149,132 135,585 2,389 40,000 (41,445) Economic Environment 1,044,748 1,301,191 1,182,786 2,488,147 3,053,474 5,106,185 710,085 430,759 1,325,416 277,294 Human Services 941,722 185,995 245,450 632,921 325,594 23,651 - - 5,088 16,818 Culture and Recreation 294,188 279,393 542,500 98,546 300,323 346,383 339,310 325,462 278,477 298,525 Court Related ------160,123 167,192
Capital Grants and Contributions: General Government - - 415,238 - - - - 2,298 727,161 1,146,210 Public Safety 324,557 25,139 6,071,478 692,231 218,611 73,159 43,344 355,293 36,822 67,208 Physical Environment - - 2,635,926 ------Transportation 2,529,199 536,922 - 3,522,737 3,538,340 978,890 322,013 946,346 321,842 300,000 Economic Environment 195,923 - - 176,472 - 487,190 882,254 277,727 - - Human Services 45,230 - - 285,538 - - - - - 140,000 Culture and Recreation 69,706 31,216 - - 2,248 397,752 460,274 502,301 - - Court Related ------Total Governmental Activities Program Revenues 22,642,621 19,368,624 28,978,776 27,315,497 27,613,190 29,592,886 22,912,589 18,833,494 16,550,606 14,304,437
Business-Type Activities: Charges for Services: Solid Waste 8,304,716 8,375,167 8,489,550 8,614,972 9,471,676 10,007,203 9,884,632 10,107,665 8,706,567 8,130,090 Water and Sewer 437,330 566,917 588,292 622,442 906,009 773,013 711,727 739,968 587,552 632,335 Highway Park Utility 92,127 125,499 116,094 138,759 148,440 159,859 143,415 130,302 99,383 110,988 Energy Recovery 2,803,771 2,302,421 2,438,539 1,987,506 56,690 - - - - -
Operating Grants and Contributions: Solid Waste 90,374 88,974 - 130,652 283,770 215,622 458,966 208,892 177,294 289,299 Water and Sewer ------Highway Park Utility ------Energy Recovery - - 4,301 9,790 ------
(214) HIGHLANDS COUNTY, FLORIDA CHANGES IN NET ASSETS LAST TEN FISCAL YEARS (CONTINUED)
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 PROGRAM REVENUES (CONTINUED): Business-Type Activities (Continued): Capital Grants and Contributions: Solid Waste ------Water and Sewer - - - - 1,650,000 255,348 - - - - Highway Park Utility ------161,526 - - Energy Recovery ------Total Business-Type Activities Program Revenues 11,728,318 11,458,978 11,636,776 11,504,121 12,516,585 11,411,045 11,198,740 11,348,353 9,570,796 9,164,715
Total Primary Government Program Revenues$ 34,370,939 $ 30,827,602 $ 40,615,552 $ 38,819,618 $ 40,129,775 $ 41,003,931 $ 34,111,329 $ 30,181,847 $ 26,121,402 $ 23,469,152
NET REVENUE (EXPENSE) Governmental Activities$ (57,345,747) $ (62,368,385) $ (51,381,791) $ (63,171,200) $ (65,443,895) $ (62,487,480) $ (54,097,256) $ (48,295,836) $ (47,093,019) $ (46,770,202) Business-Type Activities 620,217 586,865 40,278 (988,960) 1,995,789 1,101,232 1,291,179 2,119,678 1,820,543 (150,372) Total Primary Governmental Net Expense$ (56,725,530) $ (61,781,520) $ (51,341,513) $ (64,160,160) $ (63,448,106) $ (61,386,248) $ (52,806,077) $ (46,176,158) $ (45,272,476) $ (46,920,574)
GENERAL REVENUES AND OTHER CHANGES IN NET ASSETS: Governmental Activities: Taxes: Property Taxes$ 32,423,039 $ 34,215,713 $ 39,721,800 $ 42,754,541 $ 49,240,654 $ 48,952,589 $ 36,201,450 $ 31,587,749 $ 28,778,216 $ 26,511,859 Fuel Taxes 4,672,974 4,803,043 4,371,052 4,509,364 4,409,584 4,423,210 4,491,005 4,554,251 4,428,675 3,702,865 Sales Tax 7,413,355 7,280,803 7,139,393 7,266,949 8,197,815 9,159,885 9,471,209 8,672,935 7,711,242 6,639,940 Services Taxes 729,751 804,349 844,997 1,082,703 839,218 815,566 797,295 716,320 465,888 412,025 Other Taxes 368,501 349,093 370,367 390,818 419,278 416,879 410,012 399,007 346,480 235,363 State Shared Revenues 12,212,916 12,735,009 12,401,913 10,626,342 9,876,705 10,704,175 10,806,441 10,569,151 9,665,466 8,779,948 Net Change in Fair Value 852,735 of Investments 731,814 370,769 1,168,838 133,948 2,354,339 4,719,371 3,267,968 1,277,866 640,221 92,402 Gain (Loss) on Sale of Capital Assets 13,755 14,954 40,487 388,965 39,884 131,464 122,709 66,448 34,999 1,963,181 Miscellaneous 629,127 583,612 1,014,077 1,161,287 1,336,361 1,114,021 2,219,070 7,868,343 3,365,594 - Transfers - - 423,028 1,000,000 1,250,000 1,250,000 1,000,000 1,750,000 - - Total Governmental Activities 59,195,232 61,157,345 67,495,952 69,314,917 77,963,838 81,687,160 68,787,159 67,462,070 55,436,781 49,190,318
(215) HIGHLANDS COUNTY, FLORIDA CHANGES IN NET ASSETS LAST TEN FISCAL YEARS (CONTINUED)
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 GENERAL REVENUES AND OTHER CHANGES IN NET ASSETS (CONTINUED): Business-Type Activities: Net Change in Fair Value of Investments 38,339 21,099 22,784 43,552 245,495 614,499 487,002 253,917 89,761 86,129 Gain (Loss) on Sale of Capital Assets - (52,241) - - - - - (63,061) - (35,616) Miscellaneous ------11,228 113,363 485,014 - Transfers - - (423,028) (1,000,000) (1,250,000) (1,250,000) (1,000,000) (1,750,000) - - Special Item: Loss on Transfer of Assets to Municipality (3,315,330) ------Total Business-Type Activities (3,276,991) (31,142) (400,244) (956,448) (1,004,505) (635,501) (501,770) (1,445,781) 574,775 50,513
Total Primary Government$ 55,918,241 $ 61,126,203 $ 67,095,708 $ 68,358,469 $ 76,959,333 $ 81,051,659 $ 68,285,389 $ 66,016,289 $ 56,011,556 $ 49,240,831
Change in Net Assets: Government Activities$ 1,849,485 $ (1,211,040) $ 16,114,161 $ 6,143,717 $ 12,519,943 $ 19,199,680 $ 14,689,903 $ 19,166,234 $ 8,343,762 $ 2,420,116 Business-Type Activities (2,656,774) 555,723 (359,966) (1,945,408) 991,284 465,731 789,409 673,897 2,395,318 (99,859) Total Primary Government$ (807,289) $ (655,317) $ 15,754,195 $ 4,198,309 $ 13,511,227 $ 19,665,411 $ 15,479,312 $ 19,840,131 $ 10,739,080 $ 2,320,257
(216) HIGHLANDS COUNTY, FLORIDA FUND BALANCES, GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 GENERAL FUND Nonspendable$ 643,375 $ 606,075 $ - $ - $ - $ - $ - $ - $ - $ - Restricted ------Assigned 1,078,004 1,115,776 ------Unassigned 19,842,464 19,725,387 ------Reserved - - 1,565,101 2,859,901 2,900,779 3,082,747 1,279,553 2,221,948 2,016,546 598,098 Unreserved - - 22,275,114 19,796,301 24,491,485 24,289,659 16,922,380 14,025,705 7,296,255 6,003,861 Total General Fund$ 21,563,843 $ 21,447,238 $ 23,840,215 $ 22,656,202 $ 27,392,264 $ 27,372,406 $ 18,201,933 $ 16,247,653 $ 9,312,801 $ 6,601,959
ALL OTHER GOVERNMENTAL FUNDS Nonspendable$ - $ 1,460 $ - $ - $ - $ - $ - $ - $ - $ - Restricted 42,615,226 39,143,321 ------Assigned ------Unassigned (160,506) (178,875) ------Reserved - - 7,887,418 9,137,019 9,127,039 10,057,881 10,270,341 7,591,699 7,992,241 11,509,812 Unreserved, Reported in: Special Revenue Funds - - 33,589,983 34,148,889 33,764,236 27,646,106 23,557,029 18,957,721 11,340,363 12,266,756 Capital Project Funds - - 800,265 1,861,663 1,586,738 5,090,701 9,427,565 9,154,497 9,214,077 9,732,879 Total all Other Governmental Funds$ 42,454,720 $ 38,965,906 $ 42,277,666 $ 45,147,571 $ 44,478,013 $ 42,794,688 $ 43,254,935 $ 35,703,917 $ 28,546,681 $ 33,509,447
Note: In FY 2011 the County implemented GASB 54, under which governmental fund balances are reported as nonspendable, restricted, committed, assigned and unassigned. Prior year numbers have not been restated.
(217) HIGHLANDS COUNTY, FLORIDA CHANGE IN FUND BALANCES, GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 REVENUES Taxes$ 45,544,644 $ 47,393,350 $ 52,383,527 $ 55,938,981 $ 63,028,603 $ 63,694,906 $ 51,322,436 $ 45,886,814 $ 41,690,802 $ 37,266,689 Licenses and Permits 489,004 588,807 626,285 469,927 669,696 1,720,033 1,731,578 1,920,223 1,382,320 864,197 Intergovernmental 22,480,446 19,184,676 28,655,078 18,306,649 19,325,422 20,165,057 15,917,094 18,026,266 15,436,986 12,959,807 Charges for Services 7,329,535 7,344,562 7,702,508 9,088,110 9,669,202 10,186,909 11,598,937 9,839,861 7,380,846 6,955,483 Fines and Forfeitures 144,685 141,395 86,258 631,108 962,446 1,049,868 871,765 687,660 509,446 596,594 Assessments 2,004,101 2,089,742 2,045,674 2,271,304 2,966,861 3,134,252 2,154,004 2,275,218 1,938,776 1,833,235 Net Change in Fair Value of Investments 697,864 350,324 1,161,410 127,481 2,267,463 4,614,155 3,191,611 1,241,334 553,042 828,954 Miscellaneous 3,413,626 3,712,680 3,683,528 4,392,297 3,127,998 3,143,265 2,122,582 2,683,717 3,075,845 2,090,215 Total Revenues 82,103,905 80,805,536 96,344,268 91,225,857 102,017,691 107,708,445 88,910,007 82,561,093 71,968,063 63,395,174
EXPENDITURES Current: General Government 14,428,638 17,706,422 17,019,808 17,845,124 19,541,745 17,046,449 14,799,296 15,354,262 15,149,612 15,132,677 Public Safety 34,690,081 37,853,328 40,982,588 39,125,774 39,698,422 37,879,697 33,778,083 30,790,619 27,502,647 26,086,150 Physical Environment 1,376,193 1,763,210 7,592,052 1,666,698 1,598,727 1,442,740 1,466,948 1,109,342 1,244,046 1,248,172 Transportation 15,862,116 13,735,417 18,560,988 18,673,605 20,917,966 20,649,778 13,099,383 12,175,099 14,432,139 13,287,196 Economic Environment 2,848,424 2,876,117 3,429,422 4,863,344 5,315,427 7,568,796 3,286,915 1,778,190 3,396,508 1,787,449 Human Services 3,275,763 2,828,400 2,929,756 3,582,048 3,208,246 2,670,759 2,430,866 2,679,567 2,338,271 2,169,214 Culture and Recreation 2,655,630 2,828,665 3,118,665 3,685,114 3,824,583 6,073,634 4,679,289 3,800,941 3,869,108 2,194,196 Court Related 3,963,102 2,087,156 2,304,739 3,741,089 4,821,183 4,627,215 4,437,878 4,104,173 3,833,697 3,709,524 Debt Service: Principal Retirement 1,527,608 4,051,087 1,637,315 2,122,952 1,609,015 1,882,592 1,590,685 1,441,337 1,409,706 437,895 Interest 317,627 600,559 866,990 980,629 1,024,646 1,071,889 1,081,651 1,005,695 1,040,939 951,725 Bond Administration ------Other Debt Service - 37,980 10,865 5,984 4,548 4,435 3,715 3,997 3,314 8,898 Total Expenditures 80,945,182 86,368,341 98,453,188 96,292,361 101,564,508 100,917,984 80,654,709 74,243,222 74,219,987 67,013,096
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES 1,158,723 (5,562,805) (2,108,920) (5,066,504) 453,183 6,790,461 8,255,298 8,317,871 (2,251,924) (3,617,922)
(218)
HIGHLANDS COUNTY, FLORIDA CHANGE IN FUND BALANCES, GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (CONTINUED)
Fiscal Year 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 OTHER FINANCING SOURCES (USES) Transfers In 3,580,898 1,969,665 3,136,525 4,986,465 5,021,659 1,514,882 1,032,763 2,155,272 294,777 27,990 Transfers Out (1,344,202) (1,969,665) (2,713,497) (3,986,465) (3,771,659) (264,882) (32,763) (405,272) (294,777) (27,990) Issuance of Refunding Note 210,000 11,890,000 ------Loan Proceeds - - - - - 669,765 250,000 4,024,217 - 640,000 Payment to Refunded Bond Escrow Agent - (12,031,932) ------Total Other Financing Sources (Uses) 2,446,696 (141,932) 423,028 1,000,000 1,250,000 1,919,765 1,250,000 5,774,217 - 640,000
Net Change in Fund Balances$ 3,605,419 $ (5,704,737) $ (1,685,892) $ (4,066,504) $ 1,703,183 $ 8,710,226 $ 9,505,298 $ 14,092,088 $ (2,251,924) $ (2,977,922)
Debt Service as a Percentage of Noncapital Expenditures 2.46% 5.86% 2.93% 3.73% 3.10% 3.40% 3.65% 4.04% 3.99% 2.62%
(219) HIGHLANDS COUNTY, FLORIDA TAXABLE VALUE AND ACTUAL VALUE OF PROPERTY LAST TEN FISCAL YEARS
a Real Property (Assessed Value ) Assessed Valuea of Total Total Fiscal Residential Commercial Personal Less: Allowable Taxable Direct Year Property Agriculture Property Other Property Exemptions Valueb Tax Ratec
2012$ 3,937,953,139 $ 695,048,858 $ 850,340,509 $ 1,062,203,211 $ 629,408,701 $ 2,465,928,211 $ 4,709,026,207 7.1000
2011 4,333,665,684 661,062,597 858,201,822 1,021,215,059 632,201,205 2,584,930,120 4,921,416,247 7.1000
2010 5,390,566,985 722,240,630 973,110,137 1,157,498,279 640,605,018 3,166,988,865 5,717,032,184 7.1000
2009 6,311,674,643 783,215,760 968,560,507 1,191,522,801 627,224,780 3,591,019,986 6,291,178,505 7.1000
2008 6,832,027,709 721,118,570 901,197,025 1,175,437,888 611,327,180 3,373,338,257 6,867,770,115 7.3544
2007 5,841,496,016 559,941,177 695,806,213 1,174,231,933 575,561,210 2,959,552,552 5,887,483,997 8.5000
2006 3,738,996,088 519,852,336 571,063,103 880,799,061 533,684,140 2,077,560,654 4,166,834,074 9.0000
2005 2,807,195,061 614,210,251 522,151,126 745,125,927 476,210,400 1,681,969,990 3,482,922,775 9.0000
2004 2,392,669,161 614,207,984 487,448,360 700,618,824 464,849,960 1,454,173,652 3,205,620,637 9.0000
2003 2,213,235,341 604,517,443 467,127,022 664,520,804 480,914,910 1,375,756,381 3,054,559,139 8.5000
Source: Highlands County Property Appraiser
Notes: aAssessed value is determined by the Highlands County Property Appraiser on January 1 of each year at 100% of fair market value, as required by Section 192.042, Florida Statutes. bTaxable values are based on the assessed value after deducting allowable statutory exemptions. cPer $1,000 of value
(220) HIGHLANDS COUNTY, FLORIDA DIRECT AND OVERLAPPING PROPERTY TAX RATES (PER $1,000 OF ASSESSED VALUE) LAST TEN FISCAL YEARS
Direct Rates Overlapping Rates a Southwest Total Fiscal General Total Direct South Florida Florida Water City of City of Town of Overlapping Total Year Government Rate School District Water District District Avon Park Sebring Lake Placid Rates Countywide
2012 7.1000 7.1000 7.8130 0.4363 0.3928 5.8745 5.2500 3.6500 23.4166 30.5166
2011 7.1000 7.1000 7.6160 0.6240 0.5597 5.8745 5.4338 3.8100 23.9180 31.0180
2010 7.1000 7.1000 7.6870 0.6240 0.5693 5.8745 5.4965 3.8100 24.0613 31.1613
2009 7.1000 7.1000 7.6870 0.6240 0.5693 5.8745 5.5204 3.8100 24.0852 31.1852
2008 7.3544 7.3544 7.6640 0.6240 0.5693 6.3115 5.6271 3.9500 24.7459 32.1003
2007 8.5000 8.5000 7.9090 0.6970 0.6170 7.5000 6.5000 5.0000 28.2230 36.7230
2006 9.0000 9.0000 8.1350 0.6970 0.6170 7.7500 6.5000 5.0000 28.6990 37.6990
2005 9.0000 9.0000 8.4750 0.6970 0.6170 7.7500 6.5000 5.0000 29.0390 38.0390
2004 9.0000 9.0000 8.7370 0.6970 0.6170 7.7500 6.5000 4.0000 28.3010 37.3010
2003 9.0000 9.0000 8.7660 0.6970 0.6170 7.7500 6.5000 5.3000 29.6300 38.6300
Notes: The County's basic property tax rate may be increased only by a majority vode of the Board of County Commissioners. aOverlapping rates are those of local and county governments that apply to property owners within Highlands County. Not all overlapping rates apply to all Highlands County property owners.
Source: Highlands County Property Appraiser
(221) HIGHLANDS COUNTY, FLORIDA PRINCIPAL PROPERTY TAX PAYERS CURRENT FISCAL YEAR AND TEN YEARS PRIOR
Fiscal Year 2012 Fiscal Year 2003 Percentage Percentage of Total County of Total County Assessed Assessed Assessed Assessed Taxpayer Type of Business Value Rank Value Value Rank Value Progress Energy Florida, Inc. Electric Utility$ 106,700,370 1 1.49%$ 79,741,384 1 1.80% FLA Gas Transmission Co Gas System 91,619,533 2 1.28% - - 0.00% Sebring Airport Authority Industrial/Entertainment 60,887,913 3 0.85% 28,103,903 5 0.64% Gulfstream Natural Gas Sys LLC Gas System 57,767,300 4 0.81% - - 0.00% Lykes Bros Inc. Cattle & Citrus 54,549,904 5 0.76% 59,022,321 2 1.34% Glades Electric Coop Inc. Electric Utility 38,715,781 6 0.54% 23,366,681 7 0.53% Tanglewood Investors Limited Real Estate 32,665,981 7 0.46% - - - Embarq-Florida Inc. Telephone Services 29,996,100 8 0.42% 46,610,256 3 1.05% Highlands County Hospital Hospital 27,968,264 9 0.39% 21,907,985 8 0.50% Wal Mart Retail 25,060,608 10 0.35% - - - Lakeshore/Sebring Limited Retail - - - 27,558,677 6 0.62% Tampa Electric Company Electric Utility - - - 28,645,030 4 0.65% American Farmlands Invest. Citrus/Agriculture - - - 17,858,067 9 0.40% Sun-N-Lake of Sebring Real Estate - - - 15,766,136 10 0.36%
Total Assessed Value of Ten Largest Taxpayers 525,931,754 7.33% 348,580,440 7.89%
Total Assessed Value of All Other Taxpayers 6,649,022,664 92.67% 4,071,735,080 92.11%
Total Assessed Value of All Taxpayers $ 7,174,954,418 100.00%$ 4,420,315,520 100.00%
Source: Highlands County Property Appraiser
Note: The assessed value includes real and personal property.
(222) HIGHLANDS COUNTY, FLORIDA PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS
Taxes Levied Collected within the for theFiscal Year of the Levy Collections Total Collections to Dateb Fiscal Fiscal Yeara Percentage of in Subsequent Percentage of Year (Original Levy) Amountb Original Levy Yearsb Amount Original Levy 2012$ 33,440,571 $ 32,238,611 96.41% N/A N/A N/A 2011 34,942,081 33,766,320 96.64% $ 85,912 $ 33,852,232 96.88% 2010 40,590,957 39,186,283 96.54% 595,614 39,781,897 98.01% 2009 44,667,387 42,692,654 95.58% 692,739 43,385,394 97.13% 2008 50,508,381 49,064,462 97.14% 97,171 49,161,633 97.33% 2007 50,043,678 46,310,231 92.54% *** *** *** 2006 37,501,546 34,793,807 92.78% *** *** *** 2005 31,346,313 29,479,267 94.04% *** *** *** 2004 28,850,618 26,915,429 93.29% *** *** *** 2003 27,491,064 25,537,624 92.89% *** *** ***
***Information was not available.
Source: Highlands County Property Appraiser
Notes: aProperty taxes become due and payable on November 1 of each year. A four percent discount is allowed if taxes are paid in November, with the discount declining by one percent each month thereafter. Accordingly, taxes collected will never be 100% of the tax levy. Taxes become delinquent on April 1 of each year and tax certificates for the full amount of any unpaid taxes must be sold no later than June 1 of each year.
Property taxes receivable and a corresponding reserve for uncollectible property taxes are not included in the financial statements as there are no delinquent taxes as of September 30, 2012. Information regarding the Original Levy was obtained from the Property Appraiser. bInformation was obtained from the Tax Collector's Recapitulation of the Tax Roll report.
(223) HIGHLANDS COUNTY, FLORIDA RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS
Governmental Activities Business-Type Activities General Fiscal Obligation Notes Revenue Mortgage Capital Notes Capital Year Bonds Payable Certificates Payable Leases Payable Leases
2012$ - $ 13,012,046 $ 75,000 $ - $ 93,561 $ 1,311,594 $ -
2011 - 14,228,841 90,000 - 179,374 2,188,265 79,877
2010 15,480,000 2,570,623 151,667 - 346,843 2,796,430 250,673
2009 16,705,000 2,793,696 180,000 - 507,752 3,375,273 435,539
2008 17,885,000 3,553,724 208,333 - 662,343 2,082,273 3,379,820
2007 19,025,000 3,834,368 236,667 - 822,380 2,457,241 1,027,176
2006 20,135,000 4,105,310 267,576 - 623,356 2,816,390 458,511
2005 21,215,000 4,324,498 312,803 100,000 520,333 3,160,420 615,507
2004 22,270,000 956,401 358,272 200,000 105,081 3,458,308 -
2003 23,295,000 1,035,817 464,418 300,000 204,224 3,763,395 -
Notes: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
(224)
Total Percentage Primary of Personal Per Personal Government Income Capita Income Population
$ 14,492,201 N/A$ - $ - -
16,766,357 N/A - - -
21,596,236 13.15% 218 2,839,148 99,215
23,997,260 11.75% 240 2,819,310 100,111
27,771,493 10.01% 277 2,780,429 100,207
27,402,832 9.94% 277 2,722,913 98,768
28,406,143 9.05% 299 2,570,214 94,950
30,248,561 7.80% 324 2,359,230 93,456
27,348,062 7.74% 297 2,117,816 92,057
29,062,854 6.93% 322 2,014,682 90,393
(225) HIGHLANDS COUNTY, FLORIDA RATIOS OF GENERAL BONDED DEBT OUTSTANDING LAST TEN FISCAL YEARS
General Bonded Debt Outstanding Less: Amounts Percentage of General Restricted to Percentage Actual Value Fiscal Obligation Repaying Principal of Personal of Taxable Per Year Bondsa and Interest Total Income Property Capita 2012$ - $ - $ - N/A 0.00% N/A 2011 - - - N/A 0.00% N/A 2010 15,480,000 1,645,020 13,834,980 N/A 0.16% N/A 2009 16,705,000 1,965,968 14,739,032 N/A 0.15% 147.23 2008 17,885,000 1,962,960 15,922,040 0.59% 0.16% 158.89 2007 19,025,000 1,936,737 17,088,263 0.64% 0.19% 173.01 2006 20,135,000 1,942,395 18,192,605 0.71% 0.29% 191.60 2005 21,215,000 1,973,435 19,241,565 0.82% 0.37% 205.89 2004 22,270,000 1,966,972 20,303,028 0.96% 0.44% 220.55 2003 23,295,000 1,953,666 21,341,334 1.06% 0.48% 236.09
Notes: aHighlands County Florida Infrastructures Sales Surtax Revenue Bond Series 2002, delivered 6/13/02. Refunded and redeemed 11/10/10.
(226) HIGHLANDS COUNTY, FLORIDA OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT SEPTEMBER 30, 2012
Estimated Estimated Share Percentage of Overlapping Debt Outstanding Applicablea Debt
Direct Debt Notes Payable$ 13,012,046 100%$ 13,012,046 Revenue Certificates 75,000 100% 75,000 Capital Leases 93,561 100% 93,560 Total Direct Debt 13,180,606 13,180,606
Overlapping Debt Highlands County School Board: Bonds Payable 2,590,000 100% 2,590,000 Certificates of Participation 58,435,000 100% 58,435,000 City of Sebring: Note Payable 3,930,000 13% 498,870 South Florida Water Management District: Land Acquisition Bonds 25,308,815 14% 3,547,191 Certificates of Participation 516,359,621 14% 72,371,079 Total Overlapping Debt 606,623,436 137,442,140
Total Direct and Overlapping Debt $ 619,804,042 $ 150,622,746
Source: Debt outstanding data provided by each respective agency.
Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the county. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Highlands County. This process recognizes that, when considering the government's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt of each overlapping government.
a The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the taxable assessed value that is within the government's boundaries and dividing it by the county's total taxable assessed value.
(227) HIGHLANDS COUNTY, FLORIDA PLEDGED-REVENUE COVERAGE LAST TEN FISCAL YEARS
Infrastructure Sales Surtax Pledged Revenue Coverage Infrastructure Sales Fiscal Surtax Debt Service Requirements Year Revenue Principal Interest Total Coverage 2012$ 7,413,353 $ 1,405,630 $ 298,654 $ 1,704,284 4.35 2011 7,280,190 3,811,733 560,697 4,372,430 1.67 2010 7,153,417 1,437,856 838,824 2,276,680 3.14 2009 7,267,213 1,384,490 891,665 2,276,155 3.19 2008 8,226,463 1,336,452 940,174 2,276,626 3.61 2007 9,035,773 1,298,730 983,820 2,282,550 3.96 2006 9,199,530 1,216,786 986,558 2,203,344 4.18 2005 8,672,935 1,055,000 910,731 1,965,731 4.41 2004 7,711,243 1,025,000 938,239 1,963,239 3.93 2003 6,725,356 - 842,359 842,359 7.98
Notes: Details regarding the County's outstanding debt can be found in the notes to the financial statements.
The 2010 Infrastructure Sales Surtax Revenue Note and 2005 Infrastructure Sales Surtax Revenue Note are serviced from and secured by designated revenues derived from the County's share of the one cent local discretionary infrastructure sales surtax.
(228) HIGHLANDS COUNTY, FLORIDA DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS
Total Personal Per Capita Public Incomeb Personal School Unemployment Year Populationa (in thousands) Incomec Enrollmentd Ratee 2012 -$ - $ - 12,070 9.3% 2011 98,630 2,940,103 29,809 12,012 12.60% 2010 99,215 2,839,148 28,751 12,059 13.20% 2009 100,111 2,819,310 28,563 12,148 11.60% 2008 100,207 2,780,429 28,075 12,328 8.30% 2007 98,768 2,722,913 27,640 12,391 5.20% 2006 94,950 2,570,214 26,425 12,456 4.00% 2005 93,456 2,359,230 24,789 12,133 4.70% 2004 92,057 2,117,816 22,813 12,004 6.80% 2003 90,393 2,014,682 22,195 11,625 6.20%
Notes: aInformation was provided by the U.S. Department of Commerce, Bureau of Economic Analysis. bInformation was provided by the U.S. Department of Commerce, Bureau of Economic Analysis. cInformation was provided by the U.S. Department of Commerce, Bureau of Economic Analysis. dInformation was provided by the Highlands County District School Board. eInformation was provided by the Florida Research and Economic Information Database.
(229) HIGHLANDS COUNTY, FLORIDA PRINCIPAL EMPLOYERS CURRENT FISCAL YEAR AND TEN YEARS PRIOR
2012 2003 Percentage Percentage of Total County of Total County Employer Employees Rank Employment Employees Rank Employment Highlands County School Board 1,582 1 3.97% *** *** *** Florida Hospital 1,500 2 3.76% *** *** *** Wal-Mart 796 3 2.00% *** *** *** Agero f/k/a Cross Country Automotive Services 600 4 1.51% *** *** *** Highlands Regional Medical Center 413 5 1.04% *** *** *** Highlands County Board of County Commissioners 360 6 0.90% *** *** *** DelRay Plants 350 7 0.88% *** *** *** Highlands County Sheriff's Office 349 8 0.88% *** *** *** The Palms of Sebring 257 9 0.64% *** *** *** Alan Jay Automotive 250 10 0.63% *** *** ***
Total 6,457 16.20% - -
Labor Force Employed 39,860 ***
Source: Top employer information was provided by the Highlands County Economic Development Commission. Labor force employed numbers were obtained from the Florida Research and Economic Database.
*** Information not available.
(230) HIGHLANDS COUNTY, FLORIDA FULL-TIME EQUIVALENT COUNTY GOVERNMENT EMPLOYEES BY FUNCTION LAST TEN FISCAL YEARS
Full-Time Equivalent Employees as of September 30 Function 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 GENERAL GOVERNMENT Legislative 5 5 5 5 5 5 5 * * * Executive 4 5 4 5 4 4 4 * * * Financial and Administrative 121 123 124 98 112 120 112 * * * Comprehensive Planning 5 7 7 6 9 9 7 * * * Other General Government 31 34 35 36 34 34 36 * * * PUBLIC SAFETY Law Enforcement 219 197 210 219 200 203 192 * * * Fire Control 17 22 23 20 15 12 12 * * * Detention / Correction 118 118 120 120 121 117 107 * * * Protective Inspection 15 17 18 19 21 23 26 * * * Emergency and Disaster 6 4 5 7 6 6 6 * * * Ambulance and Rescue 64 70 80 78 59 57 59 * * * Other Public Safety 2 2 2 2 2 2 1 * * * PHYSICAL ENVIRONMENT Water Utility Services 22 27 29 30 31 31 27 * * * Conservation and Rescue 12 10 13 14 15 15 12 * * * TRANSPORTATION Road and Street Facilities 111 111 113 114 123 123 118 * * * ECONOMIC ENVIRONMENT Housing 1 1 4 4 5 4 5 * * * Veteran Services 3 3 3 3 3 3 3 * * * Other 2 1 2 2 2 2 3 * * * HUMAN SERVICES Health 8 8 8 7 7 6 7 * * * Welfare 7 7 8 10 12 8 4 * * * Other Human Services ------1 * * * CULTURE AND RECREATION Libraries 18 17 19 20 20 23 22 * * * Parks & Recreation 14 15 15 15 13 16 14 * * * COURT RELATED Court General Administration 15 8 9 10 12 12 13 * * * Circuit Court Criminal 5 6 6 6 7 7 7 * * * Circuit Court Civil 3 4 5 5 3 5 4 * * * Circuit Court Family 8 5 7 8 7 7 7 * * * Circuit Court Juvenile 4 4 4 4 4 5 4 * * * Court General Operations 12 8 7 8 23 23 17 * * * County Court Traffic 6 7 7 7 7 7 8 * * * Total 858 846 892 880 882 889 843 * * * * Information is not available (231) HIGHLANDS COUNTY, FLORIDA OPERATING INDICATORS BY FUNCTION
Function Fiscal Year Program 2012 2011 2010 2009 2008 2007 2006
GENERAL GOVERNMENT New Hires 27 35 20 20 67 60 122 Purchase Orders Issued 1,764 2,069 2,107 2,398 2,758 3,572 2,733 Comp Plan Amendments 6 563 17 21 39 30 38 IT Work Orders Completed 5,605 5,097 5,804 5,402 5,190 4,702 1,672 IT Users Served 801 614 613 530 535 514 560
PUBLIC SAFETY Emergency Medical Services: Emergency 911 Call Volume: EMS Calls 14,782 14,243 13,628 13,781 12,713 12,970 12,644 Fire Department Calls 7,204 6,567 7,156 6,893 5,330 5,567 6,520 Average EMS Response Time (in Minutes) 7 6 6 6 5.57 6.50 6.54 Air Medical Service (Number of Flights) 122 142 149 156 78 69 82 Sheriff: Arrests Made 4,845 5,920 6,021 6,452 7,314 7,372 6,984 Traffic Citations Issued 5,501 3,852 4,747 4,614 5,694 7,027 15,705 Detentions and Correction: Jail Average Daily Population 422 406 388 403 471 456 328 Building Department: Permits Issued 3,508 3,784 3,788 3,606 4,798 7,743 10,273 Inspections Performed 5,179 6,162 6,279 5,529 7,646 14,808 16,791 Zoning Department: Code Enforcement Complaints Received 3,333 1,756 2,782 2,354 2,441 644 2,745 Code Enforcement Inspections Performed 6,103 4,689 4,574 4,937 6,424 3,584 6,585
PHYSICAL ENVIRONMENT Recycled Waste (Tons) 2,791 48 112 3,059 25,790 3,354 3,315 Landfill Waste: Residential Household Waste (Tons) 38,394 39,601 42,268 46,097 53,396 54,901 59,073 Commercial Waste (Tons) 27,956 27,010 27,779 26,576 30,774 39,614 42,008
(232) HIGHLANDS COUNTY, FLORIDA OPERATING INDICATORS BY FUNCTION (CONTINUED)
Function Fiscal Year Program 2012 2011 2010 2009 2008 2007 2006
TRANSPORTATION Miles of Road Constructed 0 2 1 0 0.28 1.02 0.57 Miles of Road Reconstructs 1 2 1 1 1.04 - 0.97 Miles of Road Resurfaced 36 33 29 32 6.72 16.26 19.52
ECONOMIC ENVIRONMENT Down Payment Assistance Loan Program * * * * * * 9 Veterans' Services: In Office Visits 6,747 6,262 8,216 19,168 15,384 8,137 4,341 Phone Calls Received 26,583 24,672 34,360 24,834 19,895 29,874 19,608 Home Visits 54 151 215 259 169 107 48 Transportation Trips * * * * * 731 539 Presentations 266 310 453 526 607 528 255
HUMAN SERVICES Animal Control: Number of Complaints Received 8,067 8,643 9,457 8,673 7,730 6,382 7,265 Number of Impoundments 4,928 7,201 6,408 6,183 4,919 4,039 4,212 Animals Reclaimed 283 509 487 459 461 363 36,453 Animals Adopted 322 286 293 310 155 66 53 Animals Donated to Humane Society 938 1,021 829 481 78 68 65 Animals Euthanized 2,925 4,917 4,173 4,139 3,650 3,089 3,183 Wildlife Relocated 297 378 512 401 517 413 454 Transportation Trips for Disadvantaged Persons 73,147 70,631 73,855 52,894 73,160 30,824 29,715
(233) HIGHLANDS COUNTY, FLORIDA OPERATING INDICATORS BY FUNCTION (CONTINUED)
Function Fiscal Year Program 2012 2011 2010 2009 2008 2007 2006
CULTURE AND RECREATION Library Operations: Registered Borrowers in Highlands County 11,830 61,513 57,614 54,109 48,914 41,700 41,557 Library Visitors 290,139 303,053 331,523 330,167 297,748 325,182 288,332 Items Circulated: Adult 267,294 304,191 338,950 358,708 313,774 279,438 168,471 Children 87,032 96,903 86,000 69,517 76,360 85,129 162,727 Adult Programs: Number of Programs 251 174 276 143 171 165 629 Number of Attendees 1,963 2,097 2,218 4,140 1,075 1,786 2,955 Children's Programs: Number of Programs 251 243 293 312 170 288 279 Number of Attendees 4,056 2,235 1,832 4,017 4,077 7,011 5,319 Volunteer Hours 6,140 8,465 8,393 6,709 5,354 6,202 8,570 Library Webpage Visits 207,842 954,110 1,003,689 729,660 381,732 * * Public Internet Usage (Hours) 54,619 * 53,978 55,732 47,714 * * Park Rentals: H.L. Bishop 48 40 43 * * * 62 Boat Ramps Maintained 38 39 39 38 39 39 39
COURT RELATED Cases in Court 30,704 30,887 27,726 28,451 36,629 30,942 31,915 Individuals thru Security 146,858 149,639 172,518 156,498 207,058 139,066 119,052
Source: Information was obtained from various County departments. In future years, the information will be expanded to reflect 10 years of history.
* Information not available
(234) HIGHLANDS COUNTY, FLORIDA CAPITAL ASSETS BY FUNCTION
Function Fiscal Year Program 2012 2011 2010 2009 2008 2007 2006 GENERAL GOVERNMENT IT Networked Buildings 39 34 34 31 28 27 25
PUBLIC SAFETY EMS Vehicles Ambulances 12151514151414 Jaws 2222222 Administrative 2 2 2 2 2 2 2 Paid/Volunteer Fire Stations*******
Stations 1111111 Sub-Stations 5 3 3 3 3 3 3 Patrol Vehicles 99 85 89 87 89 80 87 Command Center 1 1 1 3 3 3 1 Special Operations Vehicle 2 2 4 3 3 2 1 Aircraft 1 1 1 1 1 1 1 Watercraft 4 4 4 4 4 4 2 Correction Facility Capacity 504 504 504 524 524 512 512
TRANSPORTATION Miles of County Road: Paved 998.35 998.26 984.34 984.34 984.02 980.06 977.08 Unpaved 220.01 220.01 206.93 206.93 206.65 204.76 202.93 Number of Airports 3 3 3 3 3 3 2
CULTURE AND RECREATION Number of County Libraries 3 3 3 3 3 3 3 Library Books 219,767 208,778 196,583 191,525 183,934 166,139 193,943 Library Audio Materials 11,202 10,890 10,158 10,455 10,860 10,409 - Library Video Materials 21,169 20,767 19,116 18,143 18,390 16,955 14,755 Number of County Boat Ramps 38 39 39 38 39 39 39 Number of County Parks 21 21 21 21 21 21 18 Parks with Playgrounds 4 4 4 5 5 5 4 Parks with Baseball/ Softball Fields 6 6 6 6 6 6 2 Park Acreage (Estimated): Developed 1,464.83 1,464.83 1,464.83 1,464.83 1,469.83 1,469.83 1,447.83 Undeveloped 30.67 30.67 30.67 30.67 30.67 30.67 52.67
Source: Information was obtained from various County departments. In future years, the information will be expanded to reflect 10 years of history.
(235) COMPLIANCE SECTION HIGHLANDS COUNTY, FLORIDA SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE YEAR ENDED SEPTEMBER 30, 2012
CFDA Grant Federal/State agency CSFA Contract Transfers to Pass-Through Entity Number Number Expenditures Subrecipients
U.S. Department of Housing and Urban Development Direct Programs: Home Investment Partnerships Program 14.239 M-08-DC-12-0233$ 17,879 - Home Investment Partnerships Program 14.239 M-09-DC-12-0233 213,032 - Home Investment Partnerships Program 14.239 M-10-DC-12-0233 390,218 - Total Home Investment Partnerships Program 621,129 Pass-Through from Florida Department of Community Affairs: Community Development Block Grants 14.228 10DB-K4-07-38-01-K18 167,370 - Community Development Block Grants 14.228 12DB-P5-07-38-01-K66 28,553 - Total Community Development Block Grant 195,923 Total U.S. Department of Housing and Urban Development 817,052
U.S. Department of the Interior: Pass-Through from Florida Fish and Wildlife Conservation Commission: Cooperative Endangered Species Conservation Fund 15.615 FL E-32-1 HP 32,490 - Total U.S. Fish and Wildlife Service 32,490
U.S. Department of Justice: Direct Programs: State Criminal Alien Assistance Program 16.606 2010-H3273-FL-AP 1,798 - Bulletproof Vest Partnership Program 16.607 N/A 453 - Bulletproof Vest Partnership Program 16.607 N/A 22,449 - Total Bulletproof Vest Partnership Program 22,902 JAG Program Cluster: Edward Byrne Memorial Justice Assistance Grant Program 16.738 2010-DJ-BX-1479 709 - Edward Byrne Memorial Justice Assistance Grant Program 16.738 2011-DJ-BX-2136 13,316 - Pass-Through from Florida Department of Law Enforcement: Edward Byrne Memorial Justice Assistance Grant Program 16.738 2012-JAGC-HIGH-1-C4-150 89,542 - ARRA - Edward Byrne Memorial Justice Assistance Grant Program / Grants to States and Territories 16.803 2010-ARRC-HIGH-1-W7-013 106,706 - Total JAG Program Cluster 210,273 Pass-Through from Florida Attorney General: Crime Victim Assistance 16.575 V10029 84,343 - Residential Substance Abuse Treatment for State Prisoners 16.593 2012-RSAT-HIGH-1-D1-005 50,000 - Total U.S. Department of Justice 369,316
(236) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
CFDA Grant Federal/State agency CSFA Contract Transfers to Pass-Through Entity Number Number Expenditures Subrecipients
U.S. Department of Transportation: Pass-Through from Florida Department of Transportation: Highway Planning and Construction (Construction) 20.205 410277-1-58-01 870,687 - Highway Planning and Construction (CEI) 20.205 410277-1-68-01 61,441 - Highway Planning and Construction 20.205 417950-1 96,131 - Total U.S. Department of Transportation 1,028,259
Election Assistance Commission: Pass-Through from Florida Division of Elections: Help America Vote Act Requirement Payments 90.401 N/A 4,701 - Total Election Assistance Commission 4,701
U.S. Department of Health and Human Services Direct Programs: Health Care and Other Facilities 93.887 8305 45,230 - Pass-Through from Florida Division of Elections: Voting Access for Individuals with Disabilities: Grants to States 93.617 HHS-2007-ACF-ADD-VOTE-0135 13,230 - Pass-Through from Ounce of Prevention Fund of Florida, Inc.: Temporary Assistance for Needy Families 93.558 HF-11-12-42 126,978 - Temporary Assistance for Needy Families 93.558 HF-12-13-42 44,192 - Total Temporary Assistance for Needy Families 171,170 Pass-Through U.S. Agency for Children and Families, Office of Child Support Enforcement, Florida Department of Revenue: Child Support Enforcement 93.563 CD328 169,668 - Total U.S. Department of Health and Human Services 399,298 -
Department of Homeland Security: Direct Programs: Emergency Management Performance Grants 97.042 12-FG-R3-07-38-01-095 51,593 - Pass-Through from Florida Division of Emergency Management: Emergency Food and Shelter National Board Program 97.024 LRO #163600-013 10,000 - Hazard Mitigation Grant 97.039 06HM-7@-07-38-01-014 4,050 - Hazard Mitigation Grant 97.039 06HM-7@-07-38-01-013 4,050 - Hazard Mitigation Grant 97.039 12HM-5B-07-38-01-410 59,220 - Total Hazard Mitigation Grant Program 67,320 Homeland Security Grant Program 97.067 10-DS-39-07-38-01-36 14,802 - Homeland Security Grant Program 97.067 11-DS-9Z-13-00-16-436 8,325 - Homeland Security Grant Program 97.067 12-DS-40-07-38-01-324 12,580 - Total Homeland Security Grant Program 35,707 Total Department of Homeland Security 164,620
TOTAL EXPENDITURES OF FEDERAL AWARDS $ 2,815,736
(237) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
CFDA Grant Federal/State agency CSFA Contract Transfers to Pass-Through Entity Number Number Expenditures Subrecipients
STATE FINANCIAL ASSISTANCE Department of Economic Opportunity Pass-Through from Office of Tourism, Trade, and Economic Development: Economic Development Transportation Fund 31.002 09-00063$ 569,068 - Enterprise Florida, Inc. - Encroachment Prevention and Sustainability 31.003 DIG 11-05 46,531 - Enterprise Florida, Inc. - Noise Study 31.003 DIG 11-11 48,649 - Total Enterprise Florida, Inc. 95,180 Total Department of Economic Opportunity 664,248
Florida Department of Environmental Protection: Cooperative Collection Center Grant 37.007 SO571 16,500 - Small County Consolidated Waste Grants 37.012 216SC 70,588 - Pass-Through South Florida Water Management District: Statewide Surface Water Restoration and Wastewater Projects 37.039 LP8927 216,380 - Total Florida Department of Environmental Protection 303,468
Florida Department of State & Secretary of State Division of Library & Information Services: State Aid to Libraries 45.030 11-ST-17 47,162 - State Aid to Libraries 45.030 08-ST-19 13,784 - Total State Aid to Libraries 60,946 Total Florida Department of State, Division of Library and Information Services 60,946
Executive Office of the Governor: Pass-Through Division of Emergency Management: Emergency Management Programs 52.008 12-BG-05-07-38-01-028 84,650 - Emergency Management Projects 52.023 11-CP-03-07-38-01-000 3,370 - Emergency Management Projects 52.023 12-CP-03-07-38-01-193 2,000 - Total Emergency Management Projects 5,370 Total Executive Office of the Govenor 90,020
Florida Housing Finance Corporation: State Housing Initiatives Partnership (SHIP) Program 52.901 N/A 397,535 - Hurricane Housing Recovery Program 52.902 N/A 65 - Total Florida Housing Finance Corporation 397,600
Florida Department of Transportation: State Highway Project Reimbursement 55.023 414509-2-38-01 271,972 - State Highway Project Reimbursement 55.023 414512-2-38-01 345,779 - State Highway Project Reimbursement 55.023 412644-1-38-01 428,287 - State Highway Project Reimbursement 55.023 414510-1-38-01 382,712 - Total State Highway Project Reimbursement 1,428,750 Total Florida Department of Transportation 1,428,750
(238) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
CFDA Grant Federal/State agency CSFA Contract Transfers to Pass-Through Entity Number Number Expenditures Subrecipients
Florida Department of Health Emergency Medical Services (EMS) Matching Awards 64.003 M 1073 7,500 - County Grant Awards 64.005 C0028 16,175 - Total Florida Department of Health 23,675
Florida Department of Management Services Wireless 911 Emergency Telephone System 72.002 S4-11-06-10 215,798 - Wireless 911 Emergency Telephone System 72.002 S4-11-07-27 80,410 - Total Wireless 911 Emergency Telephone System 296,208 Total Florida Department of Management Services 296,208
Florida Fish and Wildlife Conservation Commission: Waterway Marker Replacement 77.006 10244 69,706 - Total Florida Department of Management Services 69,706
TOTAL STATE FINANCIAL ASSISTANCE $ 3,334,621
(239) HIGHLANDS COUNTY, FLORIDA NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2012
NOTE 1 - GENERAL
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance presents the activity of all federal and state financial award programs of Highlands County, Florida (County). The County reporting entity is defined in Note 1 to the County’s basic financial statements for the year ended September 30, 2012. All federal financial awards received directly from federal agencies as well as federal financial awards passed through other government agencies are included in the schedule.
NOTE 2 - BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance is presented using the modified accrual basis of accounting for awards recorded in governmental fund types and the accrual basis of accounting for awards recorded in the proprietary fund types which are described in Note 1 to the County’s general purpose financial statements for the year ended September 30, 2012.
NOTE 3 - CONTINGENCIES
Grant monies received and disbursed by the County are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the County does not believe that such disallowances, if any, would have a material effect on the financial position of the County. As of March 1, 2013, there were no material questioned or disallowed costs as a result of grant audits in process or completed.
(240)
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
Board of County Commissioners Sebring, Florida
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 Highlands County, Florida (County) as of and for the year ended September 30, 2012, which collectively comprise the County’s basic financial statements and have issued our report thereon dated March 1, 2013. 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.
Internal Control Over Financial Reporting In planning and performing our audit, we considered the County's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the County's internal control over financial reporting.
Our consideration of internal control over financial reporting was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control over financial reporting that might be significant deficiencies or material weaknesses and therefore, there can be no assurance that all deficiencies, significant deficiencies, or material weaknesses have been identified. However, as described in the accompanying schedule of findings and questioned costs, we identified a certain deficiency in internal control over financial reporting that we consider to be a material weakness.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. We consider the deficiency described in the accompanying schedule of findings and questioned costs as 2012-01 to be a material weakness.
An independent member of Nexia International (241) Board of County Commissioners Sebring, Florida
Compliance and Other Matters As part of obtaining reasonable assurance about whether the County's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
We noted certain matters that we reported to management of the County in a separate letter dated March 1, 2013.
The County’s responses to the findings identified in our audit are described in the accompanying schedule of findings and questioned costs. We did not audit the County’s responses and, accordingly, we express no opinion on them.
This report is intended solely for the information and use of the Board of County Commissioners, management, federal and state awarding agencies, and the State of Florida Auditor General and is not intended to be and should not be used by anyone other than these specified parties.
CliftonLarsonAllen LLP
Sebring, Florida March 1, 2013
(242)
INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR FEDERAL PROGRAM AND STATE PROJECT AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 AND CHAPTER 10.550, RULES OF THE AUDITOR GENERAL
Board of County Commissioners Highlands County, Florida
Compliance We have audited Highlands County, Florida’s (County) compliance with the types of compliance requirements described in the OMB Circular A-133 Compliance Supplement, and the requirements described in the 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, 2012. The County’s major federal programs and state projects are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Compliance with the requirements of laws, regulations, contracts, and grants applicable to each of its major federal programs and state projects is the responsibility of the County’s management. Our responsibility is to express an opinion on the County’s compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations; and Chapter 10.550, Rules of the Auditor General. Those standards, OMB Circular A-133, and Chapter 10.550, Rules of the Auditor General, require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program or state project occurred. An audit includes examining, on a test basis, evidence about the County’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination of the County’s compliance with those requirements.
In our opinion, the County complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs and state projects for the year ended September 30, 2012.
An independent member of Nexia International (243) Board of County Commissioners Highlands County, Florida
Internal Control Over Compliance Management of the County is responsible for establishing and maintaining effective internal control over compliance with the requirements of laws, regulations, contracts, and grants applicable to federal programs and state projects. In planning and performing our audit, we considered the County's internal control over compliance with the requirements that could have a direct and material effect on a major federal program or state project to determine the auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County’s internal control over compliance.
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.
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 deficiencies, significant deficiencies, or material weaknesses. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, we identified a deficiency in internal control over compliance that we consider to be a significant deficiency as described in the accompanying schedule of findings and questioned costs as item 2011-01. 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.
The County’s responses to the findings identified in our audit are described in the accompanying schedule of findings and questioned costs. We did not audit the County’s responses and, accordingly, we express no opinion on the responses.
This report is intended solely for the information and use of management, the Board of County Commissioners, others within the entity, and federal and state awarding agencies and is not intended to be and should not be used by anyone other than these specified parties.
CliftonLarsonAllen LLP
Sebring, Florida March 1, 2013
(244) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS- FEDERAL PROGRAMS AND STATE PROJECTS YEAR ENDED SEPTEMBER 30, 2012
SECTION I – SUMMARY OF AUDITOR’S RESULTS
1. The type of report issued on the financial statements: Unqualified opinion
2. Internal control over financial reporting:
Material weaknesses identified Yes
Significant deficiencies identified that are not considered to be material weaknesses None reported
3. Noncompliance material to the financial statements noted: None reported
4. Internal control over major programs:
Material weaknesses identified None reported
Significant deficiencies identified that are not Considered to be material weaknesses Yes
5. Type of auditor’s report issued on compliance for major programs: Unqualified opinion
6. Any audit findings which are required to be reported under Section 510(a) of Circular A-133 or Chapter 10.650, Rules of the Auditor General: Yes
7. Major Federal programs: CFDA # Home Investment Partnerships Program 14.239 Highway Planning and Construction 20.205
8. Major state projects: CSFA # State Housing Initiatives Partnership (SHIP) Program 52.901 Economic Development Transportation Fund 31.002 State Highway Project Reimbursement 55.023
9. Dollar threshold used to distinguish between Type A and Type B programs for Federal programs and state projects: $300,000
10. Auditee qualified as low-risk auditee under OMB Circular A-133? No
(245) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS- FEDERAL PROGRAMS AND STATE PROJECTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
SECTION II – FINANCIAL STATEMENT FINDINGS
2012-01 – Internal Control Over Financial Reporting – Financial Statement Adjustments
Criteria: The County’s management is responsible for establishing and maintaining internal controls for the proper recording of transactions and reporting of financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP).
Condition: Material adjustments to correct the County’s trial balances and financial statements were identified during the course of the audit.
Context: Substantive testing of account balances identified the adjustments.
Effect: Material misstatements of account balances existed as of September 30, 2012.
Cause: Financial reporting procedures did not detect accounting and reporting errors involving certain transactions occurring outside the normal course of operations such as new activities, discontinued operations, and revenue recognition for complex transactions.
Recommendation: We recommend developing additional review procedures as part of the year-end closing process to ensure account balances are properly stated in accordance with GAAP. These procedures should specifically focus on the initiation, review, and approval of nonroutine transactions.
Management Response: Clerk’s management concurs with the finding and recommendation. Additional year-end review procedures will be implemented to ensure that non-routine transactions are reported in accordance with GAAP.
(246) HIGHLANDS COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS- FEDERAL PROGRAMS AND STATE PROJECTS (CONTINUED) YEAR ENDED SEPTEMBER 30, 2012
SECTION III – FINDINGS AND QUESTIONED COSTS FOR FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE
See finding 2011-01 reported in the accompanying Summary Schedule of Prior Audit Findings.
(247) HIGHLANDS COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS YEAR ENDED SEPTEMBER 30, 2012
2011-01 – Grant Administration
CFDA 14.239 – U.S. Department of Housing and Urban Development – Home Investments Partnership; Grant Years – 2006, 2007, and 2008
CSFA 52.901 – Florida Housing Finance Corporation – State Housing Initiatives Partnership; Grant Year – 2008/2009
Condition: Administrative expenditures reported for the State Housing Initiatives Partnership (SHIP) grant were not reconciled to the accounting records. County staff was unaware of the methodology used to derive and report the administrative expenditures. During the course of the audit, the County’s consultant was able to reconcile the administrative expenditures reported and determined that the amounts reported were within the allowable amount under the grant.
Match amounts reported on HOME grant reports were incorrect. The County has provided match in excess of the grant requirement; therefore, the County is in compliance with the grant agreement.
The instances noted above were undetected during the year due to lack of review and supervision of reports by a grant manager.
Recommendation: We recommend designating an individual to directly oversee the SHIP and HOME grants. The individual should have experience in grant management or be provided training in grant management and compliance requirements.
Current Status: Home Investments Partnership – Match amounts reported on HOME grant reports were corrected. No similar findings were noted in the 2012 audit.
State Housing Initiatives Partnership – This finding was partially corrected during the fiscal year ended September 30, 2012. The Board hired an outside firm with experience in grant management, reporting and compliance to oversee SHIP grants and work with Board staff. SHIP grant administrative expenditure reporting was corrected. During the current year, the SHIP 2008/2009 program year annual report, which was also the close out report, was not remitted to the grantor agency by the extended due date.
Management Response: Management concurs with the finding and recommendation. The SHIP 2008/2009 report has been addressed and remitted to the grantor agency and is in compliance with the grant agency. Management will implement additional procedures to oversee compliance requirements.
(248)