HomeMy WebLinkAboutMartin County - Public Financial ReportPopular Annual Financial Report
For the Fiscal Year Ended
September 30, 2021
Martin County, Florida
MARTINMARTINCOUNTYCOUNTYTIDESTIDES
MARTINMARTINCOUNTYCOUNTYTIDESTIDES
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Clerk of the Circuit Court & Comptroller
Martin County, Florida
Carolyn Timmann
I am proud to present the County’s Popular Annual Financial
Report (PAFR) for the fiscal year ended September 30, 2021.
It provides a condensed version of some of the financial and
demographic detail in the Annual Comprehensive Financial
Report, providing a concise summary of Martin County’s financial
activities.
The PAFR highlights the source of the County’s revenues,
as well as how the County managed and spent those monies.
Additionally, it provides information regarding the County’s
budget, capital assets, debt, and cash and investments, as well
as general information about our County. Information in the PAFR
does not provide detailed financial information for all funds and
is summarized in a format the residents of our County can easily
understand.
Revenues increased by $44 million compared to 2020, due to
increases of $11 million in tax collections, $8 million in charges for
services due to reopening County offices, and $24 million in grants
and contributions for County projects. Expenses decreased by $24
million. The 2021 increase in net position was $73 million.
The County has established a comprehensive framework of
internal controls designed to safeguard the assets of the County
from loss, theft or misuse. The full audited Annual Comprehensive
Financial Report (ACFR) has been awarded the Certificate of
Achievement for Excellence in Financial Reporting for the past
27 years from the Government Finance Officers Association. It
provides a more in-depth, fund-level, audited review of the County’s
finances, with detailed financial statements, notes, schedules, and
statistics. For additional detail on the County’s finances, please
refer to the ACFR, as well as other financial reports, on the Clerk’s
website at www.MartinClerk.com/237/Annual-Financial-Reports.
It is my honor and privilege to serve as your Clerk &
Comptroller. Thank you for your interest in the County’s finances,
and for the trust you place in all of your County officials. Visit our
website at www.MartinClerk.com, which provides information and
services to assist you with your personal and business matters.
Please also call, email, or visit one of the offices if we can be of
further service to you.
Dear Residents of Martin County,
Message from the Clerk
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County ReCoRdeR
The Clerk is responsible for processing and
maintaining all official public records, such
as mortgages, deeds, wills, and marriage
licenses. Citizens may also apply for their
U.S. passport at the Clerk’s Office.
County ComptRolleR
Serving as County Chief Financial Officer, Treasurer, and Auditor, the Clerk provides a county-level system of checks and balances on budget, revenue, and spending. The Clerk also provides financial statements to the Board and all federal and state agencies.
CleRk to the BoaRd of County CommissioneRs
The Clerk prepares and maintains public records of Commission meetings and serves as custodian of county resolutions, ordinances, and contracts. Also, the Clerk administers the Value Adjustment Board, which property owners may use to contest their assessed property value.
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About the Clerk
County overview
eleCted offiCiAls
MArtin County
loCAl eConoMy
budget & tAxes
ProPerty tAxes
stAteMent of net Position
stAteMent of ACtivities
revenues
exPenditures
fund bAlAnCe
budget & ACtuAls
investMents
debt
CAPitAl Assets
ProjeCts
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CONTENT
CleRk of the CiRCuit CouRt1The Clerk of the Circuit Court safeguards
all court records with the utmost integrity.
The Clerk is also responsible for managing
jurors, maintaining evidence, and submitting
appeals.
Summing up
FiScal Year 2021
57,951
14,131
3,556
940
283
Summing up
FiScal Year 2021
...................... Invoices Paid
................. Traffic Citations
....... Passport Applications
................. Marriage Licenses
........... Marriage Ceremonies
The Clerk of the Circuit Court, established by the Florida Constitution of 1838, is the local constitutional
officer who serves as the Public Trustee for the county,
independently elected to protect public funds and
public records while performing several functions:
Role of the Clerk & Comptroller
About the Clerk
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Martin County Business-Type Activities:
Martin County Airport
Utilities
Department
Solid Waste
Department
Sailfish Sands Golf Course
VICKI DAVIS
Supervisor of Elections
www.martinvotes.gov
WILLIAM SNYDER
Sheriff
www.mcsofl.org
CAROLYNTIMMANN
Clerk of the Circuit Court and Comptroller
www.martinclerk.com
JENNY FIELDS
Property Appraiser
www.pa.martin.fl.us
RUTHPIETRUSZEWSKI
Tax Collector
www.martintaxcollector.com
Board of County Commissioners
www.martin.fl.us
Separation of Powers Protects Your Tax Dollars
CLERK
Pays County bills
PROPERTY APPRAISER
Assesses property taxable value
TAX COLLECTOR
Collects taxes
BOARD OF COUNTY COMMISSIONERS
Levies property taxes
County Overview
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DOUG SMITH
County Commissioner
District #1
STACEY HETHERINGTON
County Commissioner
District #2
HAROLD JENKINS
County Commissioner
District #3
SARAH HEARD
County Commissioner
District #4
EDWARD CIAMPI
County Commissioner
District #5
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CLERK
Pays County bills
PROPERTY APPRAISER
Assesses property taxable value
TAX COLLECTOR
Collects taxes
BOARD OF COUNTY COMMISSIONERS
Levies property taxes
Board of County Commissioners
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Martin County was incorporated on May 30, 1925,
and was named after Governor John Wellborn
Martin (served 1925-29). The County is located
on the east coast of Florida, approximately halfway between Orlando and Miami, in the area designated as the Treasure Coast.
Martin County is currently ranked 32nd in
population size with 0.7% of the State’s total
population. During the past decade (2012–2021), the population of the County increased 8.1%.
BY THE NUMBERS – 2021
159,053 residents
• 544 square miles of land area
• 1,800 acres of park land
• 499 miles of paved roads
• 21 miles of ocean beaches
• 12 fire stations• 12 community centers
• 6 libraries
The County is a non-charter county established under the Florida Constitution and the Laws of the State
of Florida. The County operates under a County Manager form of government with separation of executive
and legislative functions. The five-member Board of County Commissioners (BOCC) is the legislative and governing body of the County. Commissioners are elected by all county voters to four-year terms to the district in which they reside.
The primary government of Martin County consists of the BOCC and the independently elected
constitutional officers – Clerk of the Circuit Court and Comptroller, Property Appraiser, Sheriff, Supervisor of
Elections, and Tax Collector. Together they provide a full range of services which include law enforcement, tourist development, fire rescue, conservation and resource management, public improvements, human services, parks and recreation, cultural facilities, planning and zoning, public transportation, economic development, property tax assessments and collections, official recordkeeping, court related support
functions, and financial services, including financial reporting and the investment of public funds.
The County also operates four business-type activities: Utilities Department, Solid Waste Department, Sailfish Sands Golf Course, and the Martin County Airport.
About Martin County
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TOP TEN EMPLOYERS
EMPLOYER EMPLOYEES % OF COUNTY
EMPLOYMENT
Cleveland Clinic Martin Health 3,189 4.13%
Martin County School District 2,499 3.23%
Martin County Government 1,813 2.35%
STS Holdings 1,639 2.12%
Publix Supermarkets 1,253 1.62%
NuCo2 1,075 1.39%
GL Staffing Services 1,000 1.29%
Seacoast National Bank 1,000 1.29%
Visiting Nurses Association of Florida 964 1.25%
State of Florida 612 0.79%
PERSONAL
INCOME PER
CAPITA
2017 $79,104
2018 $83,873
2019 $85,394
2020 $89,185
2021 Not Available
POPULATION
The City of Stuart, the County Seat, is known as the
“Sailfish Capital of the World” and sport fishing attracts
many tourists to the area. Other municipalities are the Town of Jupiter Island, Ocean Breeze Park, the Town of Sewall’s Point, and the Village of Indiantown. All of the municipalities enjoy the environmental and economic
benefits of the recreational spaces and waterways.
The Indian River and the St. Lucie River converge in Stuart, flowing into the Atlantic Ocean at the St. Lucie Inlet. Through a series of natural waterways and canals,
the Atlantic Intracoastal Waterway runs through Indian
River County and St. Lucie County, into Martin County, and extends to Palm Beach County. In addition to the Atlantic Intracoastal Waterway, the South Fork of the St. Lucie River connects with Lake Okeechobee through the St. Lucie
Canal as part of the Okeechobee Waterway flowing into
the Gulf of Mexico near Fort Myers, Florida. The County recognizes and prioritizes the importance of maintaining our diverse estuary, including the Indian River
Lagoon, to support the ecological and economic impact it
provides for Martin County. The local economy is based upon agriculture, tourism, professional and banking services, healthcare services,
education, and manufacturing. In the past ten years,
assessed property values have increased 42.8%. The unemployment rate for the County decreased to 3.4% in 2021 from 4.2% in 2020, compared to 4.7% nationally, while Florida’s unemployment rate was 4.8%.
MedianHouse
Price
(Reflects 2020 Census)
$200,430 $214,855
$236,980 $246,950 $261,960
20202019201820172016
$270,640
2021
Local Economy
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Millage:
One “mill” is
equal to $1 for
every $1,000
of assessed property value.
TRIM notices inform taxpayers and the public
about the process by which property taxes are
determined and gives notice of public hearing
locations and times.
During September, public hearings are held
pursuant to Section 200.065, Florida Statutes,
in order for the BOCC to receive public input
on the tentative budget. At the end of the last
public hearing the BOCC enacts ordinances
to legally adopt the budgets at the department
level for all governmental fund types.
In compliance with the Florida
Constitution and Florida Statutes,
Martin County’s Board of County
Commissioners (BOCC) adopts and
publishes a balanced budget annually.
Using the budget process as a
framework, county departments and
staff implement the BOCC’s strategic
goals and objectives. In 2021, the
budget provided for the implementation
of these goals, as well as legislative and
other established priorities.
This year’s focus included a
comprehensive program for Martin
County’s deferred maintenance needs
for infrastructure and its capital
improvement backlog.
This plan addresses maintaining
County facilities, including roads,
bridges, and drainage. It also
addresses a septic-to-sewer
conversion program for communities
and neighborhoods where continued
use of septic systems has negatively
impacted our water quality.
The County’s goal is to deliver the best services to its
residents with the limited resources that are available.
Total ad valorem taxes collected in 2021 were $217,707,071. This represents an $11.2 million increase from 2020.
FPL is the top taxpayer in the county,
accounting for 9.62% of total assessed value.
Total County taxable valuation in Fiscal Year 21
was $23,842,412,719.
Budget & Taxes
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AUG
JAN
JULYNOV
The Property Appraiser determines market value and exemption eligibility. These are used to calculate a property’s taxable value.
The BOCC and other taxing entities set millage rates, which are used to calculate property taxes.
The Property Appraiser mails a notice of proposed taxes, or a Truth in Millage (TRIM) notice.
In November, the Tax Collector sends bills and begins collecting payments.
Property taxes are the County’s primary source of revenues.
The County’s total
weighted average millage
rate for Fiscal Year 2021
was 10.3651%, up from
10.3574%. The increase
in the tax rate equates
to approximately $89.21
more paid by the average
single family homeowner
using a $270,640 net
assessed value.
The Property Appraiser
certified property values
with a total tax base
of $23.8 billion, a 5.0%
increase from the prior
year. The single family
median market value
increased from $261,960
in the prior year to
$270,640.
The total County budget
for FY21 reflects an $11.2
million increase in
ad valorem revenues.
The structure of the homestead exemption established by the Save
Our Homes Amendment, allowing for an increase in the assessed
value when the assessed value is less than market value, is indexed
by the Consumer Price Index (CPI) or 3%, whichever is less.
In addition to ad valorem taxes, the County received $30.5 million in
sales taxes and $1.7 million in communications and other taxes.
Property Taxes
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The Statement of Net Position presents the County’s assets plus deferred outflows, less liabilities and deferred inflows, with the difference between them reported as net position.
It includes all governmental and enterprise funds (utilities, solid waste, golf course, and airport).
Changes in net position may serve as an indicator of whether the financial position of the County is improving or deteriorating.
Capital Assets: The county’s land, building, equipment, improvements, and infrastructure, net of accumulated depreciation
Net Investment in Capital Assets: Capital assets, net of accumulated depreciation, reduced by outstanding debt attributable to their acquisition, construction, or improvements
Deferred outflows of resources: Consumption of net position that applies to a future period and will be recognized in that future period
Deferred inflows of resources: Acquisition of net position that applies to a future period and will be recognized in that future period
Net pension liability:The difference between the present value of projected benefit payments to employees and the fair value of assets and investments set aside for that purpose
OPEB (Other Postemployment Benefits): Benefits other than pensions that retired County employees receive (health care insurance)
NET POSITION
($ Millions)2021 2020 INCREASE
(DECREASE)
ASSETS
Current and Other Assets 420.1 378.8 41.3
Capital Assets 1,026.2 990.4 35.8
TOTAL ASSETS 1,446.3 1,369.1 77.2
Deferred Outflows of Resources 74.5 107.3 (32.8)
LIABILITIES
Current Liabilities 77.9 61.0 16.9
Long-term Liabilities 436.5 627.4 (190.9)
TOTAL LIABILITIES 514.4 688.4 (174.0)
Deferred Inflows of Resources 155.8 22.7 133.1
NET POSITION
Net Investment in Capital Assets 884.7 855.0 31.6
Restricted 97.2 102.2 (37.7)
Unrestricted (131.3)(191.9)91.4
TOTAL NET POSITION:850.6 765.3 85.3
Net investment in capital assets of $886.6 million reflects the largest portion of the County’s net position. The County uses capital assets to provide services to citizens; consequently, these assets are not available for future spending.
Current and other assets increased by $41.3 million mostly due to an increase in cash and investments of $19.7 million. This resulted from a $15 million increase in tax collections. Total capital assets (net of depreciation) increased $35.8 million primarily due to an increase in building improvements, equipment acquisition, water quality and
drainage improvements, and infrastructure related to roadway projects.
Total liabilities decreased $174.0 million from FY20’s balance, primarily due to actuarial adjustments on net pension liability due to adjustments based on 2021 market fluctuations.
Statement of Net Position
Government-Wide Financials
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STATEMENT OF ACTIVITIES
($ Millions)2021 2020 INCREASE
(DECREASE)
%
CHANGE
REVENUES
PROGRAM REVENUES
Charges For Services 118.8 107.3 11.5 10.7%
Operating Grants & Contributions 43.8 24.0 19.8 82.5%
Capital Grants & Contributions 27.0 19.9 7.1 35.7%
GENERAL REVENUES
Property Taxes 217.7 206.5 11.2 5.4%
Sales Taxes 30.5 26.4 4.1 15.5%
Other Miscellaneous 15.8 19.7 (3.9)(19.8%)
TOTAL REVENUE 453.6 403.8 49.8 12.3%
EXPENSES
General Government 75.4 79.1 (3.7)(4.7%)
Public Safety 144.9 169.6 (24.7)(14.6%)
Physical Environment 16.7 11.1 5.6 50.5%
Transportation 29.2 28.4 0.8 2.8%
Economic Environment 4.2 5.4 (1.2)(22 .2%)
Human Services 6.9 6.8 0.1 1.5%
Culture & Recreation 20.1 20.2 (0.1)(0.5%)
Interest & Fiscal Charges 3.6 3.9 (0.3)(7.7%)
Water 20.0 20.7 (0.7)(3.4%)
Sewer 16.4 17.0 (0.6)(3.5%)
Solid Waste 24.8 24.1 0.7 2.9%
Airport 4.3 4.0 0.3 7.5%
Golf 1.8 1.9 (0.1)(5.3%)
TOTAL EXPENSES 368.3 392.2 (23.9)(6.1%)
Increase (Decrease) in Net Position 85.3 11.6 73.7 635.3%
Net Position - Beginning Balance 765.3 753.7 11.6 1.5%
Net Position - Ending Balance 850.6 765.3 85.3 11.1%
CHARGES FOR SERVICES: • Building permits • Court filing fees• Service charges• Ambulance fees• Impact fees• Franchise fees• Animal control fees• Parks & recreation facility fees• Water, sewer, and garbage utility charges
OTHER MISCELLANEOUS: • Communications taxes• Investment earnings• Contributions not restricted to specific programs• Other misc. revenues
GENERAL GOVERNMENT: • Board of County Commissioners• County Administrator• Clerk & Comptroller• Property Appraiser• Supervisor of Elections• Tax Collector• Financial and legal services• Comprehensive planning• Debt service• Pension
PUBLIC SAFETY: • Sheriff• Fire rescue• Ambulance services• Emergency & disaster relief
PHYSICAL ENVIRONMENT: • Water, soil, wildlife, game, etc. conservation efforts• Flood control• Beach restoration
ECONOMIC ENVIRONMENT: • Labor & industry development • Veterans services• Housing
HUMAN SERVICES: • Physical & mental health services• Disability services• Public assistance to indigent in our community
Statement of Activities
Government-Wide Financials
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Governmental Funds: Represents activities that are supported primarily by taxes and intergovernmental revenues.
Excludes custodial and trust funds, as well as business-type funds such as Water and
Sewer, Solid Waste, Airport, and the Sailfish Sands Golf Course.
Issuance of Debt:
Proceeds from loans, bonds,
and capital leases
Intergovernmental Revenue:
Revenue from federal, state,
and local government sources
in the form of grants, shared
revenues, and payments in
lieu of taxes
• Fines & Forfeitures
• Contributions
• Donations
• Interest Income
• Transfers
• Miscellanous Revenues
SOURCES FOR REVENUES 2021 2020 2019
Taxes 230.7 218.6 201.1
Intergovernmental Revenue 76.8 55.2 37.5
Other 53.7 29.4 34.0
Charges for Services 28.1 26.2 27.1
Permits, Fees, and Special Assessments 23.8 20.4 23.1
Issuance of Debt 5.0 6.9 50.6
TOTALS 418.1 356.7 373.4
“Other” includes:
Governmental Funds - Revenue
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Debt Service:Payments on bonds, bank loans, and capital leases
“Other” includes: • Economic Environment• Human Services• Transfers
EXPENDITURES 2021 2020 2019
Public Safety 152.8 137.4 127.3
General Government 68.4 65.4 63.4
Physical Environment 14.7 8.5 15.4
Transportation 15.0 14.4 13.9
Culture & Recreation 17.8 16.3 16.9
Other 53.7 28.7 23.1
Capital Outlay 64.6 49.2 44.2
Debt Services 16.3 14.4 12.9
TOTALS 403.5 334.3 317.1
Governmental Funds - Expenditures
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The General Fund is the primary operating fund for county operations.
It encompasses administration, parks, libraries, emergency services,
information technology, buildings, and other County services.
The fund’s balance is the difference between assets and liabilities reported in the balance sheet, and is divided into several types:
• Nonspendable: Amounts not available in spendable form, i.e., inventory or monies in a trust
• Restricted: Resources subjected to externally enforceable legal restriction, i.e., creditors,
grantors, and state or federal legislation
• Assigned: Amounts that are intended for specific use, but are not restricted, i.e., disaster
preparedness or capital projects
• Committed: Amounts that can be used only for specific purposes, per the BOCC
• Unassigned: Any fund balance remaining not categorized above
GENERAL FUND - FUND BALANCE
2021 2020 2019
Nonspendable 606,146 495,476 428,595
Restricted 930,218 866,204 532,242
Assigned 22,945,115 12,518,556 12,582,102
Unassigned 38,193,826 29,752,682 20,518,225
Total 62,675,305 43,632,918 34,061,164
The Fund Balance Reserve Policy ensures that sufficient
levels of reserves are maintained for operational and
financial stability. The stabilization reserve in the General
Fund is to be maintained in an amount not less than
10% of the annual General Fund budget (less reserve
totals). This amount approximates 60 days of working
capital. Other County funds maintain similar designated
reserves.
Fund Balance
General Fund
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STATEMENT OF ACTIVITIES
FINAL BUDGET ACTUAL
AMOUNT
VARIANCE
POSITIVE (NEGATIVE)
REVENUES
Taxes $ 128,040,075 $ 129,612,952 $ 1,572,877
Permits, fees, & special assessments 850,000 1,113,608 263,608
Intergovernmental revenue 18,205,852 21,196,800 2,990,948
Charges for services 15,607,619 15,035,196 (572,423)
Fines and forfeitures 1,356,904 1,317,585 (39,319)
Interest income 692,844 230,370 (462,474)
Contributions and donations 2,000,070 90,930 (1,909,140)
Miscellaneous revenue 5,862,877 6,910,829 1,047,952
Statutory budget reduction (500,000)-(500,000)
TOTAL REVENUES 172,116,241 175,508,270 3,392,029
EXPENDITURES
General Government 66,956,642 55,485,459 11,471,183
Public Safety 80,853,447 94,325,617 (13,472,170)
Physical Environment 1,761,522 1,164,416 597,106
Transportation 975,811 566,659 409,152
Economic Environment 523,400 286,074 237,326
Human Services 2,641,996 2,368,545 273,451
Culture & Recrecation 13,537,321 12,940,041 597,280
Capital Outlay 13,149,498 11,789,431 1,360,067
Debt Service 1,015,360 2,047,522 (1,032,162)
TOTAL EXPENDITURES 181,414,997 180,973,764 441,233
REVENUES OVER (UNDER)
EXPENDITURES (9,298,756)(5,465,494)3,833,262
OTHER FINANCING SOURCES (USES)
Issuance of Debt -5,012,851 5,012,851
Transfers In 1,759,432 25,709,379 23,949,947
Transfers Out (6,582,979)(6,214,349)368,630
Reserves (28,460,285)-28,460,285
TOTAL OTHER FINANCING SOURCES (33,283,832)24,507,881 57,791,713
Net Change in Fund Balance (42,582,588)19,042,387 61,624,975
Fund Balance - Beginning 42,582,588 43,632,918
Fund Balance - Ending $ -$ 62,675,305
Actual vs. Budget
Actual tax revenues were $1.573 million higher than the final budget. Florida Statutes require revenues to be budgeted at 95% of reasonably anticipated receipts. The county taxes collected for the general fund were collected at 99.95% of the required budgeted amount.
Actual intergovernmental revenues were $2.991 million over the final budget, as a result of the fluid and unpredictable nature of multiple outside funding sources.
Actual general government expenditures are reporting a variance of $11.471 million less than budgeted, and actual public safety expenditures are reporting a variance of $13.472 million more than budgeted. Originally anticipated general government expenditures ended up in public safety as a result of the pandemic. Total expenditures were $0.441 million favorable, a 0.2% favorable variance. Some of the larger final budget to actual favorable variances were $3.4 million in salaries and related costs and $6.5 million for contractual and professional services.
The general fund actual capital outlay expenditures were $1.360 million lower than the final budget due to normal capital project activity fluctuations.
Budget and Actuals
General Fund
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Cash & Investments Policy:
The County’s investment policy applies to all financial assets except pension
funds and funds held pursuant to any bond resolution.
Investment objectives include:
1. Safety of capital — Each investment transaction shall first ensure that
capital losses are avoided.
2. Maintenance of adequate liquidity — The portfolio shall remain
sufficiently liquid to meet all operating and capital requirements that may
be reasonably anticipated.
3. Return on investments — The portfolio shall be designed with the
objective of attaining a market rate of return that takes into account
investment risk constraints, liquidity needs, and economic conditions.
U.S. Treasuries
U.S. Agency Bonds
Florida Prime Investment Pool (SBA)
Florida Local Govt Investment Pool
FLCLASS Local Govt Investment Pool
Bank Deposit Investments
FLSTAR Local Govt Investment Pool
Other Cash and Investments
Total Investments: $373.2 Million
$55.2
$55.1
$98.1
$25.2
$25.1
$10.0
$5.0
$99.5
$ Millions
Investments
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Debt Policy:
Each year, debt service requirements are
calculated on a five-year time frame that is in
unison with the Capital Improvement Plan (CIP).
Debt Policy Guidelines:
1. The County will limit long-term borrowing to
capital leases and capital improvements that
cannot be financed from current financial
resources.
2. The County will not issue debt with a
maturity longer than the useful life of the
project or asset.
3. The County will not fund current operations
or maintenance from the proceeds of long-
term debt.
Debt Per Capita: Total county debt divided by population.
OUTSTANDING DEBT
2021 2020
2004 Revenue Note 1.1 1.6
2005 Revenue Note 1.4 1.8
2010 Revenue Note 1.0 1.2
2011 Revenue Note 1.9 2.3
2013 Lease Refunding Note 1.6 2.0
2014 Gas Tax Refunding Note 12.2 14.5
2016 A & B Utility Refunding Note 50.6 55.2
2017 A & B Revenue Note 3.9 4.2
2017 C, D, & E Revenue Note 16.9 18.4
2018 Special Assessment Note 4.0 4.1
2019 Half Cent Sales Tax Bond 36.6 37.8
Total Bonds 131.2 143.1
Capital Leases 28.5 28.4
State Loans 3.7 0.9
Other Loans 6.6 6.7
Total 170.0 179.1
Debt
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2021 CAPITAL ASSETS ($ MILLIONS)
ENTERPRISE FUNDS TOTALS
GOVT FUNDS WATER/
SEWER
SOLID
WASTE AIRPORT GOLF
COURSE TOTAL $TOTAL %
Land & CWIP 288.6 28.4 2.1 9.0 -328.1 31.9%
Buildings & Improvements 121.0 76.0 6.3 4.0 0.7 208.0 20.3%
Equipment 55.0 145.6 2.8 0.1 0.2 203.7 19.8%
Intangible Assets 7.8 4.5 ---12.3 1.3%
Land Improvements 27.1 -1.4 -0.6 29.1 2.8%
Infrastructure 227.3 --17.7 -245.0 23.9%
TOTAL CAPITAL ASSETS 726.8 254.5 12.6 30.8 1.5 1,026.2 100%
Capital Assets:
The county’s land, building, equipment, improvements, and infrastructure,
net of accumulated depreciation.
CWIP:
Construction work in progress
Intangible Assets:
Non-physical assets, including
land-use rights and software
Land-Use Rights:
Easements to access County-owned
land and maintenance sites, as well as
road rights-of-way
2021 MAJOR ADDITIONS:
• Willoughby Commons Building
• Holt Jail Air Conditioner and Generator
• Bulk Chemical Storage Tank Replacement
• Courthouse Generator
• Willoughby Creek Water Quality Improvements
• High Point Road Water Main Replacement
• Reverse Osmosis Membrane Replacement
• Phipps Park
• Cove Road Resurfacing
DITIONS:
.................................... $5.0 Million
....................... $2.2 Million
................. $1.3 Million
................................................... $1.2 Million
........ $1.2 Million
................ $1.2 Million
................ $1.1 Million
..................................................................... $1.1 Million
................................................. $1.0 Million
Capital Assets
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St Lucie Inlet
Management Plan
• $4.5M ad-valorem taxes• $1.36M grants
• $500K tourist development taxes
• $110K vessel registration fees
This program is comprised of
maintenance dredging and other necessary improvements to the jetties, breakwater, sand impoundment basin, and
interior shoal to maintain the
navigation channel. The total remaining ten-year project costs are $83.0 million.
Rio CRA
Improvements
• $689K tax increment fund revenue
This project supports the
long-term vision of a Rio
Town Center. It includes upgrading stormwater systems, installing water and sewer systems, and the acquisition
of key properties that will spur
redevelopment and attract businesses. The total remaining project costs are $8.1 million.
Airport
Facilities
Improvements
• $3.0M grants
• $830K airport fees
This project is comprised of various components such as
operations center and electrical
vault construction, wildlife and security fencing, gate access and CCTV security improvements, and sunshade
hangars. The total ten-year
project costs are $8.3 million.
Hobe Sound
CRA Improvements
• $676K tax increment fund revenue
This project includes
neighborhood enhancements
for the Bridge Road “Main Street” project. Improvements include the provision of infrastructure for affordable
housing, traffic calming,
crosswalks, and lighting to promote vehicular and pedestrian safety. The total remaining project costs are
$7.9 million.
SW martin HigHWaY
(Sr-714)
• Funded through FDOT state funds
This project is for the widening
of the road to a four-lane
divided highway from west of SW Citrus Boulevard to the east approach of the bridge over Florida’s Turnpike. It includes
intersection improvements,
realignments, the widening of the bridge over the Turnpike, and new sidewalks and bicycle lanes. The full cost of the
project is $20.3 million.
Old palm citY
Septic tO SeWer &
Water main extenSiOnS
• $18.3M property assessment loan• $2M state revenue sharing
• $1.5M franchise fees
• $900K capital facilities funds
This project includes water
main extensions to 377 parcels
and septic to sewer conversions to serve approximately 1,015 parcels. A booster pump at the Martin Downs Wastewater
Repump Station is also planned.
Total project cost is $22.7 million.
Projects
Popular Annual Financial Report
For the Fiscal Year Ended
September 30, 2021
Martin County, Florida
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