City of Pembroke Pines, Florida Comprehensive Annual Financial Report and Compliance Reports Fiscal Year Ended September 30, 2020 Comprehensive Annual Financial Report and Compliance Reports of the City of Pembroke Pines, Florida For the Fiscal Year Ended September 30, 20 Prepared by The Finance Department City of Pembroke Pines, Florida Fiscal Year Ended September 30, 2020 Table of Contents PAGE I. INTRODUCTORY SECTION Letter of Transmittal .................................................................................................... i Certificate of Achievement for Excellence in Financial Reporting .............................. x Listing of City Officials ................................................................................................ xi Organizational Chart .................................................................................................. xii II. FINANCIAL SECTION Independent Auditors’ Report ..................................................................................... 1 Management's Discussion and Analysis ..................................................................... 4 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position.................................................................................... 22 Statement of Activities ......................................................................................... 23 Fund Financial Statements: Balance Sheet - Governmental Funds ................................................................ 24 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ................................................................................. 25 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds ..................................................................................... 26 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........ 27 Statement of Net Position - Proprietary Funds .................................................... 28 Statement of Revenues, Expenses and Changes in Fund Net Position- Proprietary Funds .......................................................................................... 29 Statement of Cash Flows - Proprietary Funds .................................................... 30 Statement of Net Position - Fiduciary Funds ....................................................... 32 Statement of Changes in Net Position - Fiduciary Funds .................................... 33 Notes to Basic Financial Statements ..................................................................... 34 Required Supplementary Information: Budgetary Comparison Schedule – General Fund ............................................ 142 Notes to Budgetary Comparison Schedule ....................................................... 144 Schedule of Changes in Net Pension Liability and Related Ratios – General Employees’ Pension Plan ............................................................................... 146 Schedule of Employer Contributions – General Employees’ Pension Plan ...... 147 City of Pembroke Pines, Florida Fiscal Year Ended September 30, 2020 Table of Contents PAGE II. FINANCIAL SECTION (Continued) Required Supplementary Information: Schedule of Changes in Net Pension Liability and Related Ratios – City Pension Fund for Firefighters and Police Officers ................................ 148 Schedule of Employer Contributions – City Pension Fund for Firefighters and Police Officers ................................................................... 149 Schedule of Changes in Net OPEB Liability and Related Ratios – Other Post-Employment Benefits ................................................................ 150 Schedule of Employer Contributions – Other Post-Employment Benefit Plan ................................................................................................. 151 Schedule of Annual Money Weighted Rate of Return for General Employees’ Pension Plan, City Pension Fund for Firefighters and Police Officers, and OPEB .................................................................................................. 152 Charter Schools Pension Schedules ................................................................. 153 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet-Nonmajor Governmental Funds ................................ 159 Combining Statement of Revenues, Expenditures and Changes in Fund Balances-Nonmajor Governmental Funds ........................................ 161 Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual: Debt Service Fund ............................................................................................... 163 Nonmajor Governmental Funds: Road and Bridge Fund ...................................................................................... 164 Law Enforcement .............................................................................................. 164 Police Community Service Grant ...................................................................... 165 State Housing Initiative Program ....................................................................... 165 Elementary Schools Chartered by Broward County School Board ................... 166 Middle Schools Chartered by Broward County School Board ........................... 166 High School Chartered by Broward County School Board ................................ 167 Elementary School Chartered by Florida State University ................................ 167 Housing and Urban Development Grant ........................................................... 168 Community Bus Program .................................................................................. 168 Older Americans Act ......................................................................................... 169 Treasury Confiscated ........................................................................................ 169 Justice Confiscated ........................................................................................... 170 $2 Police Education........................................................................................... 170 FDLE Confiscated ............................................................................................. 171 Wetland Mitigation Trust Fund .......................................................................... 171 Combining Statement of Net Position – Fiduciary Funds ........................................ 172 Combining Statement of Changes in Net Position – Fiduciary Funds .................... 173 Combining Statement of Changes in Assets and Liabilities - Agency Funds .......... 174 City of Pembroke Pines, Florida Fiscal Year Ended September 30, 2020 Table of Contents PAGE III. STATISTICAL SECTION Financial Trends: Net Position by Component ................................................................................. 175 Changes in Net Position ....................................................................................... 176 General Governmental Tax Revenues by Source ............................................... 178 Fund Balances of Governmental Funds ............................................................... 179 Changes in Fund Balances of Governmental Funds ........................................... 180 Governmental Activities Tax Revenues by Source .............................................. 181 Revenue Capacity: Assessed Value and Estimated Actual Value of Taxable Property ...................... 182 Property Tax Rates .............................................................................................. 183 Principal Property Taxpayers ............................................................................... 184 Property Tax Levies and Collections .................................................................... 185 Debt Capacity: Ratios of Outstanding Debt by Type .................................................................... 186 Ratios of General Bonded Debt Outstanding ....................................................... 187 Direct and Overlapping Governmental Activities Debt ......................................... 188 Pledged-Revenue Coverage ................................................................................ 189 Demographic and Economic Information: Demographic and Economic Statistics ................................................................. 191 Principal Employers ............................................................................................. 192 Operating Information: Full-time Equivalent City Government Employees by Function ........................... 193 Operating Indicators by Function ......................................................................... 194 Capital Asset Statistics by Function ..................................................................... 195 Other Information: Property Assessed Value, Outstanding Debt, Legal Debt Limit, Debt Management Policies and Covenants ..................................................................................... 196 Debt Service Coverage – Electric Public Service Tax.......................................... 201 Debt Service Coverage – Electric Franchise Fees .............................................. 202 Debt Service Coverage – Communications