Comprehensive Annual Financial Report Fiscal year ended September 30, 2019 St. Johns River Water Management District A Component Unit of the State of Florida COMPREHENSIVE ANNUAL FINANCIAL REPORT ST. JOHNS RIVER WATER MANAGEMENT DISTRICT A Component Unit of the State of Florida Fiscal year ended September 30, 2019 Prepared by Office of Financial Services R. Gregory Rockwell, CPA, Accounting Director Mary-Lou Pickles, CMA, CGFO, Office Director ST. JOHNS RIVER WATER MANAGEMENT DISTRICT, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2019 CONTENTS INTRODUCTORY SECTION LETTER OF TRANSMITTAL .......................................................................................................................................... v GFOA CERTIFICATE OF ACHIEVEMENT ..................................................................................................................... xv ORGANIZATIONAL CHART LISTING PRINCIPAL OFFICIALS ...................................................................................... xvi MAP OF THE GEOGRAPHIC BOUNDARIES OF THE DISTRICT .................................................................................... xvii FINANCIAL SECTION INDEPENDENT AUDITORS’ REPORT ............................................................................................................................. 1 MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A) (UNAUDITED) ........................................................................ 5 BASIC FINANCIAL STATEMENTS ............................................................................................................................... 15 Government–wide Financial Statements Statement of Net Position ................................................................................................................................. 17 Statement of Activities ...................................................................................................................................... 18 Fund Financial Statements Balance Sheet – Governmental Funds ............................................................................................................... 20 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ........................... 21 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds ...................... 22 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities .................................................................................. 23 Notes to Financial Statements ........................................................................................................................... 25 REQUIRED SUPPLEMENTARY INFORMATION OTHER THAN MD&A (UNAUDITED) ................................................................. 65 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Schedule – Major Funds (General and Special Revenue) General Fund .............................................................................................................................................. 66 Special Revenue Funds - Other .................................................................................................................. 68 Notes to Budgetary Comparison Schedules ...................................................................................................... 71 Schedules of Changes in Total OPEB Liability and Related Ratios ................................................................. 72 Schedule of District’s Proportionate Share of Net Pension Liability - FRS ..................................................... 76 Schedule of District’s Contributions — FRS .................................................................................................... 78 Schedule of District’s Proportionate Share of Net Pension Liability - HIS ...................................................... 80 Schedule of District’s Contributions — HIS .................................................................................................... 82 OTHER SUPPLEMENTARY INFORMATION .................................................................................................................. 85 Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual Capital Projects Fund ................................................................................................................................. 86 iii ST. JOHNS RIVER WATER MANAGEMENT DISTRICT, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED SEPTEMBER 30, 2019 CONTENTS STATISTICAL SECTION (UNAUDITED) STATISTICAL SECTION…………………………………………………………………………………………………………………..87 FINANCIAL TRENDS ................................................................................................................................................................................ 89 Net Position by Component, Last Ten Fiscal Years ......................................................................................... 90 Changes in Net Position, Last Ten Fiscal Years ............................................................................................... 92 Fund Balances, Governmental Funds, Last Ten Fiscal ..................................................................................... 94 Changes in Fund Balances, Governmental Funds, Last Ten Fiscal Years ........................................................ 96 REVENUE CAPACITY ............................................................................................................................................................................... 99 Taxable Values and Estimated Just Values of Taxable Property, Last Ten Fiscal Years ............................... 100 Taxable Property Values and Estimated Just Values of Taxable Property by County, Fiscal Year 2018–2019 ................................................................................................................................ 102 Principal Taxpayers by County, Fiscal Year 2018–2019 ................................................................................ 103 Property Tax Revenues by County, Last Ten Fiscal Years ............................................................................. 104 DEBT CAPACITY .................................................................................................................................................................................... 107 Ratio of Debt to Capital Assets, Debt Per Capita, and Ratio of Bonded Debt to Taxable Property Value, Last Ten Fiscal Years ....................................................................................................................... 108 Revenue Bond Coverage, Last Ten Fiscal Years ............................................................................................ 109 DEMOGRAPHIC AND ECONOMIC INFORMATION .......................................................................................................................... 111 Population by County, Last Ten Fiscal Years ................................................................................................. 112 Number of District Employees Per 100,000 Population, Last Ten Fiscal Years ............................................ 114 Top Ten Non-Government Employers Within a Single County, Fiscal Year 2018 and 2019 ........................ 116 Unemployment Rates, Last Ten Fiscal Years ................................................................................................. 117 OPERATING INFORMATION ................................................................................................................................................................ 119 Acres of Land or Conservation Easement Ownership, Last Ten Fiscal Years ............................................... 120 Miles of Levees, Last Ten Fiscal Years .......................................................................................................... 121 Permit Applications Received, Last Ten Fiscal Years .................................................................................... 122 License and Permit Fees Received, Last Ten Fiscal Years ............................................................................. 123 OTHER REPORTS 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 ...................................................................................................................................................... 125 Schedule of Expenditures of Federal Awards and State Financial Assistance ............................................... 127 Independent Auditors’ Report on Compliance for Each Major Federal Program and Major State Project and Report on Internal Control Over Compliance required by the Uniform Guidance and Chapter 10.550, Rules of the Auditor General ............................................................................................. 131 Schedule of Findings and Questioned Costs for the Fiscal Year ended September 30, 2018 ......................... 133 Independent Accountants’ Report on Compliance with Section 218.45, Florida Statutes ............................. 135 MANAGEMENT LETTER SECTION Independent Auditors’ Management Letter Required