City of Opa-Locka, Florida Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2015

City of Opa-locka, Florida Comprehensive Annual Financial Report For The Fiscal Year Ended September 30, 2015 The City of Opa-locka Mission Statement The Mission of the City of Opa-locka is to enhance the quality of life, environment, and safety of our customers and employees in an atmosphere of courtesy, integrity, and quality service. CITY OF OPA-LOCKA, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 TABLE OF CONTENTS PAGE I. INTRODUCTORY SECTION Letter of Transmittal i-ii List of Principals iii Organizational Chart iv II. FINANCIAL SECTION INDEPENDENT AUDITORS’ REPORT 1-3 MANAGEMENT’S DISCUSSION AND ANALYSIS (Required Supplementary Information) 4-15 BASIC FINANCIAL STATEMENTS: Government-wide Financial Statements Statement of Net Position 16 Statement of Activities 17 Fund Financial Statements: Balance Sheet – Governmental Funds 18 Reconciliation of the Balance Sheet Governmental Funds to the Statement of Net Position 19 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds 20 Reconciliation of the Balance Sheet to the Statement Net Position –Governmental Funds 21 Statement of Net Position-Proprietary Funds 22 Statement of Revenues, Expenses and Changes in Net Position –Proprietary Funds 23 Statement of Cash Flows-Proprietary Funds 24 Notes to Basic Financial Statements 25-63 REQUIRED SUPPLEMENTARY INFORMATION (OTHER THAN MD&A): Schedule of Revenues, Expenditures, and Changes in Fund Balances-Budget and Actual: General Fund 64 People’s Transportation Tax Fund 65 Capital Improvement Debt Service 66 Notes to Budgetary Comparison Schedule 67-68 OTHER SUPPLEMENTARY INFORMATION Combining and Individual Fund Statements Combining Balance Sheet - Non-Major Governmental Fund 69 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance – Non-Major Governmental Fund 70 Combining Statement of Net Position Balances - Non-Major Enterprise Fund 71 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance – Non-Major Enterprise Fund 72 Combining Statement of Cash Flows - Non-Major Enterprise Fund 73 CITY OF OPA-LOCKA, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 TABLE OF CONTENTS PAGE III. STATISTICAL SECTION Net Position by Component 74 Changes in Net Position 75-76 Government Activities Tax Revenues by Source 77 Fund Balances of Governmental Funds 78 General Governmental Tax Revenues and Expenditures 79 General Governmental Tax Revenues by Source 80 Assessed Value of All Taxable Property 81 Property Tax Rates-Direct and Overlapping Governments 82 Property Tax Levies and Collections 83 Ratios of Outstanding Debt by Type 84 Pledged Revenue Coverage 85 Demographic and Economic Statistics 86 Principal Employers 87 Full Time Equivalent City Government Employees by Function/ Program 88 Operating Indicators by Function/ Program 89 Capital Asset Statistics by Function/Program 90 IV. COMPLIANCE SECTION Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 91-92 Independent Auditors’ Report On Compliance for Each Major Program and on Internal Control Over Compliance Required by OMB Circular A-133 and Chapter 10.550 Rules of the Florida Auditor General 93-95 Schedule of Findings and Questioned Costs 96-108 Schedules of Expenditures of Federal Awards and State Financial Assistance 109-110 Notes to the Schedule of Expenditures of Federal Awards and State Financial Assistance 111 Management Letter in Accordance with the Rules of the Auditor General of the State of Florida 112-113 February 23, 2018 To the Citizens, the Honorable Mayor, Vice Mayor, City Commissioners, City Manager and Assistant City Managers of the City of Opa-locka: It is my pleasure to submit the Audited Financial Report for the City of Opa-locka, Florida, for the fiscal year ended September 30, 2015, pursuant to Section 218.39 of the Florida Statutes, Chapter 10.550 of the Rules of the Auditor General of the State of Florida and the City Charter. The financial statements included in this report conform to accounting principles generally accepted in the United States of America prescribed by the Governmental Accounting Standards Board (GASB). This report is published to fulfill that requirement for the fiscal year ended September 30, 2015. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a framework of internal controls that it has established for this purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute assurance that the financial statements are free of any material misstatements. The financial statements have been audited by Anthony Brunson P.A., a firm of licensed certified public accountants. The independent auditors have disclaimed an opinion on the City’s financial statements for the year ended September 30, 2015. The independent auditors’ report is located at the front of the financial section of the report. The Management’s Discussion and Analysis (MD&A) segment immediately follows the independent auditor’s report and provides narrative introduction, overview and analysis of the basic financial statements. The MD&A complements this letter of transmittal and should be read in conjunction with it. Profile of the Government The City of Opa-locka was incorporated in 1926 and operates under the Commission/City Manager form of government. The City Commission is comprised of the Mayor, Vice Mayor and three Commissioners, who are responsible for enacting ordinances, resolutions and regulations governing the City and appointing the members of various advisory boards. Additionally, the City Commission appoints the City Manager, the City Attorney and the City Clerk. As Chief Administrative Officer, the City Manager is responsible for the enforcement of laws and ordinances and the appointment and supervision of the City’s Department heads. The City provides a full range of services including police, construction and maintenance of highways and streets and other infrastructure, recreational and cultural activities, water and waste water, storm water, sanitation, planning and zoning and general administrative services. For additional services concerning our City, please visit our website at www.opalockafl.gov. The financial reporting entity under which the financial statements are prepared includes all activities and functions for which the City is financially accountable. i The City is required to prepare, approve, adopt and execute an annual budget. This annual budget serves as the foundation for the City’s financial planning and control. Budgetary control is maintained at the departmental and fund level, with the finance department providing support to departments in the administration of their budgets. Budget to actual comparisons are provided in this report for all of the City’s funds that have an appropriated annual budget. Local Economy The City of Opa-locka comprises approximately 4.2 square miles and has a population of approximately 16,000 residents. It is located in the northern portion of Miami-Dade County. The City is a mix of residential, commercial and industrial zones including the Opa-locka Airport, which is owned and operated by Miami- Dade County. The City of Opa-locka community is served by two elementary schools. Major Initiatives In 2015, The Town Center building located at 780 Fisherman Street, Opa-locka, Florida became the New City Hall. It is a four story building with the City Manager’s Office, Accounting/Finance departments and the City Commissioner’s Office all located on the fourth floor. There is a school located on the second floor which is operated by the Opa-locka CDC (OLCDC). The building is restricted to 40% government use and 60% non- government. The Cairo Lane project began in 2015, which includes the improvements of the roadways, installation of storm water /wastewater systems, and is scheduled to be completed in 2018. The City re-aligned and repaired roadways and installed sidewalks and storm water drainage on Alexandria Drive. There was a complete rehab of Pump Station #7, a leak survey was conducted which resulted in savings of 1.5 million gallons of water per annum for the City. On June 1, 2016, the City of Opa-locka City Commission adopted a Resolution to request a declaration that the City is in a state of financial emergency to seek the appointment of a financial emergency board and other assistance pursuant to section 218.503(1), Florida Statutes. The State of Florida, Office of the Governor, issued Executive Order 16-135, signed by Florida Governor Rick Scott. Acknowledgements The Finance Department would like to express our appreciation to the City Manager, Assistant City Managers, Directors and Staff Members who assisted and contributed to the preparation of this report. We would also like to express our appreciation for the leadership of the Mayor, Vice Mayor and Commissioners. Respectfully, Bryan A. Hamilton Bryan Hamilton Finance Director ii CITY OF OPA-LOCKA, FLORIDA LIST OF PRINCIPAL OFFICIALS CITY COMMISSION Timothy Holmes Joseph L. Kelley Vice-Mayor Commissioner Myra L. Taylor Mayor Terence K. Pinder Luis B. Santiago Commissioner Commissioner CITY EXECUTIVE MANAGEMENT Kelvin Baker, Sr. City Manager Joanna Flores City Clerk Vincent Brown City Attorney

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