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Property Appraiser [Audit fin stmts]

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SANTA ROSA COUNTY, FLORIDA SUPERVISOR OF ELECTIONS FINANCIAL STATEMENTS SEPTEMBER 30, 2003 SANTA ROSA COUNTY, FLORIDA SUPERVISOR OF ELECTIONS FINANCIAL STATEMENTS SEPTEMBER 30, 2003 TABLE OF CONTENTS Page INDEPENDENT AUDITOR’S REPORT 2 FINANCIAL STATEMENTS Balance Sheet – General Fund 4 Statement of Revenues, Expenditures, and Changes in Fund Balance - General Fund 5 Notes to Financial Statements 6 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget (GAAP Basis) and Actual - General Fund 11 INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE AND ON INTERNALCONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 12 MANAGEMENT LETTER 14 MANAGEMENT'S RESPONSE TO MANAGEMENT LETTER 16 -1- INDEPENDENT AUDITOR’S REPORT Honorable Doug Wilkes Supervisor of Elections Santa Rosa County, Florida We have audited the accompanying special purpose financial statements of the Office of the Supervisor of Elections of Santa Rosa County, Florida (hereinafter referred to as “Supervisor of Elections”), as of and for the year ended September 30, 2003, as listed in the table of contents. These special purpose financial statements are the responsibility of the Supervisor of Elections’ management. Our responsibility is to express an opinion on ...

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SANTA ROSA COUNTY, FLORIDA SUPERVISOR OF ELECTIONS FINANCIAL STATEMENTS SEPTEMBER 30, 2003

SANTA ROSA COUNTY, FLORIDA SUPERVISOR OF ELECTIONS FINANCIAL STATEMENTS SEPTEMBER 30, 2003 TABLE OF CONTENTS

INDEPENDENT AUDITOR S REPORT ’ FINANCIAL STATEMENTS Balance Sheet General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance - General Fund Notes to Financial Statements REQUIRED SUPPLEMENTARY INFORMATION Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget (GAAP Basis) and Actual - General Fund ’ INDEPENDENT AUDITOR S REPORT ON COMPLIANCE AND ON INTERNALCONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF THE FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS MANAGEMENT LETTER MANAGEMENT'S RESPONSE TO MANAGEMENT LETTER

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INDEPENDENT AUDITOR S REPORT ’

Honorable Doug Wilkes Supervisor of Elections Santa Rosa County, Florida We have audited the accompanying special purpose financial statements of the Office of the Supervisor of Elections of Santa Rosa County, Florida (hereinafter referred to as “Supervisor of Elections), as of and for the year ended September 30, 2003, as listed in the table of contents. These special purpose financial statements are the responsibility of the Supervisor of Elections’ management. Our responsibility is to express an opinion on these special purpose financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and 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 special purpose financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the special purpose financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall special purpose financial statement presentation. We believe our audit provides a reasonable basis for our opinion. As discussed in Note 1 to the financial statements, the Supervisor of Elections’ financial statements are special purpose financial statements presenting only the financial position and results of operations of the Supervisor of Elections. These special purpose financial statements are not intended to be a complete presentation of the financial position and results of operations of Santa Rosa County, Florida, taken as a whole. As permitted by Chapter 10.556(5), Rules of the Auditor General State of Florida, the special purpose financial statements consists of only the fund level financial statements as defined in Governmental Accounting Standards Board Statement 34, and do not include presentations of government-wide financial statements of the Supervisor of Elections. In our opinion, the special purpose financial statements referred to above present fairly, in all material respects, the financial position of the Supervisor of Elections as of September 30, 2003, and the results of its operations for the year then ended in conformity with accounting principles generally accepted in the United States of America.

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The budgetary comparison information on page 11 is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. In accordance with Government Auditing Standards , we have also issued our report dated January 30, 2004 on our consideration of the Supervisor of Elections’ internal control over financial reporting and on our tests of its compliance with provisions of laws and regulations. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in con unction with this report in considering the results of our audit.

January 30, 2004

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Santa Rosa County, Florida Supervisor of Elections BALANCE SHEET - GENERAL FUN September 30, 2003

ASSETS

Due from Board of County Commissioners Total assets

LIABILITIES AND FUND BALANC

Accounts payable Accrued expenses Total liabilities Fund balance Total liabilities and fund balance

The accompanying notes are an integral part of this financial statement.

$ 19,731 $ 19,731

$ 4,795 14,936 19,731 --$ 19,731

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Santa Rosa County, Florida Supervisor of Elections STATEMENT OF REVENUES, EXPENDITURES, AND CHANGE IN FUND BALANCE - GENERAL FUN For the year ended September 30, 2003

REVENUES Miscellaneous Total revenues EXPENDITURES Current General government Personal services Operating Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES BOCC appropriation Total other financing sources Excess (deficiency) of revenues over expenditures and other financing sources (uses) FUND BALANCE, BEGINNING OF YEA FUND BALANCE, END OF YEA

$ 1,821 1,821

386,864 156,103 3,328 546,295 (544,474) 544,474 544,474 -- -- --$

The accompanying notes are an integral part of these financial statements.

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Santa Rosa County, Florida Supervisor of Elections NOTES TO FINANCIAL STATEMENTS September 30, 2002

NOTE A - SUMMARY OF ACCOUNTING POLICIES A summary of the significant accounting policies consistently applied in the preparation of the financial statement follows. A. Principles Used in Determining the Scope of Entity for Financial Reporting Purposes Entity status for financial reporting purposes is governed by Statement No. 14 of the Governmental Accounting Standards Board (GASB). Although the Supervisor of Elections Office is operationally autonomous from the Board, it does not hold sufficient corporate powers of its own to be considered a legally separate entity for financial reporting purposes. Therefore, per GASB Statement No. 14, the Supervisor of Elections is reported as a part of the primary government of Santa Rosa County, Florida. These special purpose financial statements are not intended to be a complete presentation of the financial position and results of operations of Santa Rosa County, Florida, taken as a whole. As permitted by Chapter 10.556(5), Rules of the Auditor General State of Florida, the special purpose financial statements consists of only the fund level financial statements as defined in GASB Statement No. 34, and do not include presentations of government-wide financial statements of the Supervisor of Elections. The Supervisor of Elections, as established by Article VIII of the Constitution of the State of Florida, is an elected official of the County. Pursuant to the provisions of 129.202, Florida Statutes, the Supervisor of Elections has elected to have the Office of the Clerk of the Circuit and County Courts of Santa Rosa County maintain the books and records pertaining to the operation of his Office. B. Fund Accounting The accounting system of the Supervisor of Elections is organized and operated on a fund basis. A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts recording cash and financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. The general fund of the Supervisor of Elections is used to account for all financial resources which are generated from operations of the office, appropriations from the Board of County Commissioners, or any other resources not required to be accounted for in another fund. This

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Santa Rosa County, Florida Supervisor of Elections NOTES TO FINANCIAL STATEMENTS September 30, 2002

NOTE A - SUMMARY OF ACCOUNTING POLICIES -- (Continued) B. Fund Accounting -- (Continued) fund utilizes a modified accrual basis of accounting. The measurement focus is upon determination of financial position and changes in financial position (sources, uses, and balances of financial resources rather than upon net income determination). C. Basis of Accounting Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statement. The basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied. All governmental funds are accounted for using the modified accrual basis of accounting. Their revenues are recognized when they become both measurable and available as net current assets. The Supervisor of Elections considers receivables collected within sixty days after year-end to be available and recognizes them as revenues of the current year. Expenditures are recognized when the related fund liability is incurred. D. Accounting for Capital Assets Capital assets (vehicles, equipment and other tangible property costing at least $750 with a useful life of more than one year) are recorded as expenditures in the fund level financial statements at the time of purchase. These assets are also capitalized at cost and accounted for in the Board of County Commissioners’ government-wide financial statements. E. Budgets and Budgetary Accounting The Office of the Supervisor of Elections operates under budget procedures pursuant to Section 195.087, Florida Statutes. The Supervisor of Elections’ budget is adopted on a basis consistent with accounting principles generally accepted in the United States of America. Budget appropriations lapse at the end of the year, and are not carried over to the following year. F. Compensated Absences It is the policy of the Supervisor of Elections to permit employees to accumulate a limited amount of earned but unused sick leave, annual leave, and compensatory time, which will be paid to employees upon separation from service. Unpaid compensated absences are recorded as a liability when the benefits are earned in the Santa Rosa County government-wide financial

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Santa Rosa County, Florida Supervisor of Elections NOTES TO FINANCIAL STATEMENTS September 30, 2002

NOTE A - SUMMARY OF ACCOUNTING POLICIES -- (Continued) F. Compensated Absences -- (Continued) statements. For the governmental fund statements, there is no requirement to accumulate expendable available financial resources to liquidate the obligation; thus expenditures are recognized in the general fund when payments are made to employees. The valuation of accrued leave benefits is calculated in accordance with GASB Statement No. 16. NOTE B - LONG-TERM DEBT Disclosures required by Chapter 10.557(3)(i), Rules of the Auditor General State of Florida related to long-term debt are as follows: Balance - October 1, 2002 $ 31,764 Net change (2,173) Balance - September 30, 2003 $ 29,591 NOTE C - RETIREMENT PLAN Participation - Employees of the Supervisor of Election’s Office participate in the Florida Retirement System, a cost-sharing multiple-employer retirement system, established by Chapter 121, Florida Statutes. Participation is compulsory for full-time and part-time employees working in regularly established positions. Elected officials may elect not to participate in the system. Contributions - Chapter 121 requires the employer to pay all contributions (employee noncontributory) based upon state-wide rates established by the State of Florida. During 2003, the Supervisor of Election’s Office contributed an average of 6.17% of each qualified regular employee’s gross salary and 12.70% of the elected official’s salary. The contributions, funded on a pay-as-you-go basis, were equal to the actuarially determined contribution requirements for each year and totaled $22,292, $24,746, and $26,992 for the years ended September 30, 2003, 2002, and 2001, respectively. Benefit Provisions - The FRS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. The FRS provides for vesting of benefits after 6 years of creditable service. Normal retirement benefits are

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Santa Rosa County, Florida Supervisor of Elections NOTES TO FINANCIAL STATEMENTS September 30, 2002

NOTE C - RETIREMENT PLAN -- (Continued) available to employees who retire at or after age 62 with 10 or more years of service, or to those employees who have at least 30 years of creditable service, regardless of age. Early retirement is available after 10 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 highest years of earnings. In addition to the above benefits, the FRS administers a Deferred Retirement Option Program (DROP). This program allows eligible employees to defer receipt of monthly retirement benefit payments while continuing employment with a FRS employer for a period not to exceed 60 months after electing to participate. Deferred monthly benefits are held in the FRS Trust Fund and accrue interest. Financial Report of the Plan - The Florida Retirement System issues a stand-alone financial report. A copy can be obtained by contacting the State of Florida, Division of Retirement, Tallahassee, Florida. NOTE D - RISK MANAGEMENT The Supervisor of Elections 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 disasters. The Board of County Commissioners established a Self-Insurance Fund (an internal service fund) to account for and finance its uninsured risks of loss. Under this program the County is self-insured with respect to the following exposures: Workers Compensation Auto Physical Damage Auto Liability Construction and Road Equipment The County is covered by outside insurance for the following exposures: Portable Communication Equipment Boats Employee Fidelity General Liability, $100,000 deductible Public Officials’ Liability, $100,000 deductible

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Santa Rosa County, Florida Supervisor of Elections NOTES TO FINANCIAL STATEMENTS September 30, 2002

NOTE D - RISK MANAGEMENT -- (Continued) Conventional insurance remains in effect for buildings and their contents. Settled claims resulting from these risks have not exceeded commercial insurance coverage in any of the past three fiscal years. There have been no significant reductions in insurance coverage from coverage in the prior year. The County is a member of the Florida Association of Counties Trust, a pooled liability program providing general liability coverage and public officials’ liability coverage. The Supervisor of Elections participates in the program and makes payments to the Self-Insurance Fund based on historical estimates of the amounts needed to pay prior and current year claims and to establish a reserve for catastrophic losses. NOTE E - CANDIDATE QUALIFYING FEES Every other year, the Supervisor of Elections’ office, serving in a custodial capacity, collects candidate qualifying fees in accordance with Florida Statutes. The fees collected are disbursed pursuant to applicable Florida Statutes to the appropriate state party and to the Division of Elections. There were no qualifying fees collected during the year ended September 30, 2003.

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