HomeMy WebLinkAboutChildren's Services Council of Broward County - Public Financial ReportPopular Annual
Financial Report
A YEAR OF CARING
AND CONNECTION
6600 WEST COMMERCIAL BLVD, LAUDERHILL, FL 33319 | 954-377-1000 | INFO@CSCBROWARD | CSCBROWARD.ORG
FISCAL YEAR ENDED SEPTEMBER 30, 2021
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TABLE OF
CONTENTS
Introduction 2
Message from the President, CEO 4
Organizational Structure 5
Budget and Fiscal Policy 6
Governmental Fund Financial Information 8
Government-Wide Financial Activity 9
Where the Money Comes From 10
Where the Money Goes 11
Economic Conditions & Outlook 12
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INTRODUCTION
About the CSC
The Children's Services Council of Broward County (CSC) is an Independent Special Taxing District
established by the voters of Broward County, Florida, on September 5, 2000. The CSC's mission is to
provide the leadership, advocacy, and resources necessary to enhance children's lives and empower
them to become responsible, productive adults through collaborative planning and funding of a
continuum of quality care. The statute allows the Council to levy taxes of up to $0.50 per $1,000 of the
assessed property tax value to accomplish this task. The CSC is not a component unit of any other
governmental unit, nor does it meet the criteria to include any governmental organization as a
component unit.
The district's boundaries are coterminous with the boundaries of Broward
County, the second most populated County in the state of Florida. An estimated
1.94 million people live in Broward County, of which an estimated 408,318 or
21% are children under 18 years old. Broward County is one of the most racially
diverse counties in Florida, with 34.8% White Non-Hispanic, 30.20% Black Non-
Hispanic, 31.00% Hispanic or Latino, and 4.0% Asian and other races. The County
is flourishing with cultural and multi-ethnic diversity; 34% of the population is
foreign-born compared to 13% nationwide (Census: 2020).
Governing Board - The Council (as of 9/30/21)
The eleven-member Council comprises five (5) individuals recommended by the Broward County Board
of County Commissioners and appointed by the governor. Six (6) members are appointed by virtue of
the office or position they hold within the community. Council Members are responsible for setting
policies, prioritizing, and approving program and administrative funding. Each member brings an
understanding of the diverse and multi-cultural needs of the Broward community and a firm
commitment to improving the welfare of children and their families.
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About the Popular Annual Financial Report (PAFR)
This report offers a simplified overview of the financial position of the
Children's Services Council of Broward County to further enhance
transparency and public awareness. It is presented in a logical format,
which is easily understood by the public and other interested parties who
do not have a background in public finance. Information for this report
was extracted from the Children's Services Council's Annual
Comprehensive Financial Report for the fiscal year ended on September
30, 2021. The Annual Comprehensive Financial Report outlines the CSC's
financial position and operating activities for the year and conforms to
generally accepted accounting principles (GAAP).
Click on the link for more information about the Annual Comprehensive Financial Report.
Financial Reporting Awards
Award for Outstanding Achievement in Popular Annual Financial
Reporting
The Government Finance Officers Association of the United States
and Canada (GFOA) has given an Award for Outstanding
Achievement in Popular Annual Financial Reporting to the
Children's Services Council of Broward for its Popular Annual
Financial Report for the fiscal year ended September 30, 2020.
This was the second year that the CSC received this award. The
Award for Outstanding Achievement in Popular Annual Financial
Reporting is a prestigious national award recognizing
conformance with the highest standards for the preparation of
state and local government popular reports. We believe our
current report continues to conform to the Popular Annual
Financial Reporting requirements, and we are submitting it to
GFOA to determine its eligibility for another award.
Certificate of Achievement for Excellence in Financial Reporting
The Children's Services Council of Broward County's Annual Comprehensive Financial Report for the
year ended September 30, 2020, was awarded the Certificate of Achievement for Excellence in
Financial Reporting by the Government Finance Officers Association of the United States and Canada
(GFOA). This was the 19th consecutive year that the CSC has received this highest form of recognition
for excellence in state and local government financial reporting. To be awarded a Certificate of
Achievement, a government must publish an easily readable and efficiently organized annual financial
report. This report must satisfy both generally accepted accounting principles and applicable legal
requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our
current Annual Comprehensive Financial Report continues to meet the Certificate of Achievement
Program's requirements, and we are submitting it to GFOA to determine its eligibility for another
certificate.
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MESSAGE FROM THE PRESIDENT/CEO
Dear Citizens of Broward County:
We are pleased to present the Popular Annual Financial Report (PAFR) for
the Children's Services Council of Broward County for the year ended
September 30, 2021. The PAFR summarizes the CSC's financial activities and
operating results so that the reader can more easily understand them.
Information presented in this report was obtained from the Annual
Comprehensive Financial Report (ACFR). The ACFR is prepared in accordance
with Generally Accepted Accounting Principles (GAAP) and was audited by the firm
Caballero, Fierman, Llerena & Garcia, LLP, receiving an unmodified opinion or "clean opinion." An
unmodified opinion means the Council's basic financial statements for the fiscal year ended September
30, 2021, are fairly presented in conformity with GAAP.
The PAFR, however, was not audited. The 5‐year trend condensed statements presented in this report
are presented on a non‐GAAP basis and do not include all the required financial statement
presentations and note disclosures. The PAFR is intended to simplify, not replace, the Annual
Comprehensive Financial Report. Copies of the PAFR and Annual Comprehensive Financial Report may
be requested from the Finance Department by calling (954) 377‐1000. The documents are also
available in electronic format on the CSC's website at: www.cscbroward.org.
This was a tough year, and the pandemic has definitely taken a toll on Broward's children and families,
the nonprofits, and our staff. Still, I believe there is robust evidence that our work over the year helped
alleviate some of the hardship. While working from home, our communication feedback loops
remained strong, and our culture of flexibility, responsiveness, and excellence were effective in
keeping our organization and the child‐serving agencies connected and functioning. Our mantra, "We
don't succeed unless the providers succeed, and the providers don't succeed unless the children and
families succeed," was truly manifested this year.
I extend sincere appreciation to the staff of the CSC, who provided countless hours of research in the
preparation and production of this report and the day‐to‐day work of the CSC. Special thanks go to the
Council Members for their vision, expertise, and dedicated service and support.
Sincerely,
Cindy Arenberg Seltzer President, CEO
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ORGANIZATIONAL STRUCTURE
Our Staff
The CSC has established a strong leadership role within the child-serving community and continues to
build partnerships and programs that emphasize prevention. CSC's motto, "Our Focus is Our Children,"
guides the work of the CSC and is evidenced every day through staff's single focus on providing
leadership, advocacy, and resources for children and families in need.
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BUDGET AND FISCAL POLICY
The Budget Process By statute, the Council must submit a tentative budget and millage rate to the Broward County
Commission by July 1. Once the Property Appraiser's Office determines the final property tax values,
the Council must hold two public hearings in September as required under the Truth in Millage (TRIM)
Act. Each year, following the required disclosures and the conduct of hearings for taxpayer comment,
the Council Members set the final tax rates and adopt a budget.
How Much Did the Average Homeowner Pay for The Children's Services Council? The average assessed value of a single-family home in Broward County was approximately $292,740 in
2021. Even though home values have steadily increased over the last five years, the CSC's millage rate
has remained steady at .4882, or just under 49 cents of every $1,000 of assessed taxable value. Table 1
depicts the estimated taxes that would have been paid to the CSC by the average single-family
homeowner over the last five years. In 2021 the average homeowner would have paid $143 for the
year, approximately $2.75 per week, which is less than the cost of a kid's happy meal!
Table 1.
Year
Average Assessed
Home Value (AAV)*
Change In
AAV Tax Rate Paid to CSC
Change in
Dollars Paid
2021 292,740 5% 0.4882 $143 $7
2020 278,639 5% 0.4882 $136 $6
2019 265,891 5% 0.4882 $130 $7
2018 252,512 6% 0.4882 $123 $6
2017 239,059 6% 0.4882 $117 $7
* Source: Broward County Property Appraiser
Note: The average assessed home value is the average value of a single-family home in Broward County. All values
are assessed as of July 1, each tax year. Homestead exemptions, when applied, would decrease the AAV resulting in
lower taxes paid.
Property values are determined by the Property Appraiser on January 1.Program budget discussions are held by the Council in May.
Preliminary values received from Property Appraiser June 1.
Total Tentative Budget approved at June Council meeting.
Final values are received from Property Appraiser July 1.
TRIM hearings are held in September.
Fiscal year begins
on October 1.
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Budgetary Comparisons-General Fund
The CSC's budget for 2020-2021 was $111.2 million and included a $3.5 million budget carry forward
from the prior fiscal year and $6.6 million of fund balance. The Council increased the 2020-2021 fiscal
year budget for needed programs using this $10.1 million without raising the millage rate. Actual
revenues received were $0.1 million more than budget.
Figure 1.
Figure 2.
Due to the continued effects of the COVID-19 pandemic, total actual expenditures were $30 million
less than the budgeted $111.2 million. The pandemic is lasting much longer than many thought it
would and has disrupted service delivery for the providers resulting in a significant underutilization of
the contracts.
$10.1 $7.8 $6.8 $5.3
$5.4
$101.3 $98.2 $90.9 $84.8 $77.8
$-
$20
$40
$60
$80
$100
$120
2021 2020 2019 2018 2017
Mi
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Budget to Actual Revenues and Budgeted
Fund Balance for the Last Five Years
Budgeted Revenue Budgeted Fund Balance Actual Revenue
$111.2 $105.6 $96.6 $89.4 $82.6
$81.2 $81.8 $84.3 $82.6 $75.7
$-
$20
$40
$60
$80
$100
$120
2021 2020 2019 2018 2017
Mi
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Budget to Actual Expenditures
for the Last Five Years
Budget Actual
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GOVERNMENTAL FUND FINANCIAL INFORMATION
Like other special districts, state, and local governments, CSC uses fund accounting to ensure
compliance with finance-related legal requirements. Governmental fund information helps determine
the financial resources available to finance the CSC's programs in the near term. In the fiscal year
2020-2021, Fund Balance increased by $20.1 million to $61.5 million, primarily due to the
impact of COVID-19 on the ability of the nonprofits to deliver the contracted services. Tables 2 and 3
below show the General Fund financial information over the last five years.
Table 2.
2021 2020 2019 2018 2017
Assets:
Current Assets 70,150,858$ 51,578,936$ 31,514,108$ 27,418,888$ 25,790,002$
Total Assets 70,150,858$ 51,578,936$ 31,514,108$ 27,418,888$ 25,790,002$
Liabilities and Fund Balance:
Total Liabilities 8,569,020 10,108,626 6,438,722 8,988,467 9,598,528
Fund Balance:
Nonspendable 247,417 185,322 228,307 225,777 187,407
Committed 3,000,000 3,000,000 - - -
Assigned 19,414,037 10,293,454 7,824,448 6,815,653 5,470,758
Unrestricted 38,920,384 27,991,534 17,022,631 11,388,991 10,533,309
Total Fund Balance 61,581,838 41,470,310 25,075,386 18,430,421 16,191,474
Total Liabilities & Fund Balance 70,150,858$ 51,578,936$ 31,514,108$ 27,418,888$ 25,790,002$
Condensed Balance Sheet - Governmental Funds
CSC's total assets exceeded liabilities as at September 30, 2021 by $61,581,838 (Fund Balance).
Table 3.
2021 2020 2019 2018 2017
Total Revenues 101,347,335 98,163,429 90,924,224 85,943,806 79,008,364
Total Expenditures 81,235,807 81,768,505 84,279,259 83,704,859 76,772,360
Net Change in Fund Balance 20,111,528 16,394,924 6,644,965 2,238,947 2,236,004
Condensed Operating Satement Governmental Funds
CSC's total revenues exceeded expenditures by $20,111,528 in fiscal year 2021 (change in Fund Balance).
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GOVERNMENT-WIDE FINANCIAL ACTIVITY
The Government-wide financial statements are designed to provide readers with a broad overview of
the CSC's finances like a private sector business. These statements offer both long-term and short-term
information about the CSC's overall financial condition. Tables 4 and 5 below show that the CSC's
financial health or position has improved steadily over the last five years. In fiscal year 2021 total net
position increased by $20.1 million dollars.
Table 4.
2021 2020 2019 2018 2017
Assets:
Current and other assets 70,150,858 51,578,936 31,514,108 27,118,888 25,490,002
Capital assets 6,665,223 7,004,338 7,335,452 7,510,054 7,284,713
Total assets 76,816,081 58,583,274 38,849,560 34,628,942 32,774,715
Deferred outflows of resources 2,587,456 2,919,467 2,631,963 2,851,488 2,701,600
Liabilities:
Current 8,688,567 10,228,669 6,539,718 8,782,047 9,377,278
Noncurrent liabilities 4,638,569 9,838,531 7,917,109 6,922,984 6,319,790
Total liabilities 13,327,136 20,067,200 14,456,827 15,705,031 15,697,068
Deferred inflows of resources 4,713,146 200,362 532,126 616,905 363,813
Net Position:
Invested in capital assets 6,665,223 7,004,338 7,335,452 7,510,054 7,284,713
Restricted for building acquisition 3,000,000 3,000,000 - - -
Unrestricted 51,698,032 31,230,841 19,157,118 13,648,440 12,130,721
Total Net Position 61,363,255 41,235,179 26,492,570 21,158,494 19,415,434
Condensed Statement of Net Position
CSC's total assets and deffered outlflows exceeded liabilities and deffered inflows as at September
30, 2021 by $61,363,255 (net position).
Table 5.
2021 2020 2019 2018 2017
Expenses:
Program Services 74,325,805 75,536,930 78,763,252 77,687,387 71,587,846
General Administration 6,893,454 7,884,027 6,826,896 6,512,032 6,052,262
Total Expenses 81,219,259 83,420,957 85,590,148 84,199,419 77,640,108
Revenues:
Program Revenues - - - 1,112,377 1,209,290
General Revenues 101,347,335 98,163,429 90,924,224 84,831,429 77,799,074
Total Revenues 101,347,335 98,163,429 90,924,224 85,943,806 79,008,364
Change in Net Position 20,128,076 14,742,472 5,334,076 1,744,387 1,368,256
Net Position- beginning*41,235,179 26,492,707 21,158,494 19,414,107 18,047,178
Net Position- ending 61,363,255 41,235,179 26,492,570 21,158,494 19,415,434
* Beginning Net Position was restated in 2017, 2018 and 2020 due to other post employment benefits and the
Florida Retirement System pension adjustments.
Condensed Statement of Activities
CSC's total revenues exceeded expenses by $20,128,076 in fiscal year 2021(change in net position).
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WHERE THE MONEY COMES FROM
The CSC's total annual revenue in the fiscal year 2020-2021 was $101.34 Million. Figure 3 below shows
the allocation of revenues for the fiscal year 2020-2021.
Figure 3.
Grant revenues totaled $1,323,315 and included $422,279 of State matching funds from the
State of Florida Department of Children and Families and $901,036 grant funding from the
Antiterrorism and Emergency Assistance Program (AEAP).
Investment earnings totaled $116,029, a notable 88% decrease from the prior year. The decline is
due to lower interest rates that were earned on investments.
Miscellaneous revenue includes local foundation grants, support from local collaborative events,
training registration, and other revenue. Miscellaneous revenue for the current year equals
$1,597,406, which reflects a 30 % increase from the prior year.
Property taxes are the CSC's primary source of revenue. For 2020-2021, property tax revenue
significantly increased by $5.1 million from 2019-2020 due to a 4.7% increase in property values.
Total property tax revenue was $98.31 million.
$50
$60
$70
$80
$90
$100
$110
2021 2020 2019 2018 2017
Grant $1,323,315 $2,794,195 $152,956 $1,365,968 $1,398,945
Investment Earnings 116,029 955,209 1,388,744 857,633 419,042
Miscellaneous 1,597,406 1,232,535 1,318,978 1,288,106 1,199,909
Property Taxes 98,310,585 93,181,490 88,063,546 82,432,099 75,990,468
Mi
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Revenues
Property Taxes Miscellaneous Investment Earnings Grant
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WHERE DID THE MONEY GO?
Program Services and Support accounted for 91.5 cents of every dollar spent at the CSC in 2020-2021.
General Administration and Capital Outlay accounted for 4.5 cents, while 4 cents were spent on Tax
Collector and Community Redevelopment Agency (CRA) fees. Annual expenses totaled $81.2 million in
the fiscal year 2020-2021.
Figure 4.
2020-2021 Expenses
Tax Collector and Community Redevelopment Agency (CRA) fees decreased by 9% or $277,697 for
$3.2 million. The CRA fees were reduced by $282,452 due to one particularly large CRA sunsetting;
however, in other areas of the County, the CRA values continue to increase. The Tax Collector fees
are based on the operating budget of the Property Appraisers Office and are allocated among the
taxing districts. These fees slightly increased by $4,755 or .8% from the prior year.
General Administration and Capital Outlay expenses in 2021 totaled $3.5 million and represented
4.5% of total expenses demonstrating the Council's fiscal prudence, a very resourceful staff, and
effective use of technology. The CSC continues to focus on providing services throughout the
community with minimal administration costs.
Program Services and Support expenses totaled $74.3 million in 2020-2021, representing 91.5% of
the CSC's total expenses. The CSC strives to maximize services for Broward's children and families
and has carefully used fund balance to maintain or grow needed programs while maintaining a high
level of accountability to the taxpayer. Due to COVID-19 disrupting normal service delivery,
expenses for Program Services decreased, with the provider agencies drawing down only 71% of
the budget. Figure 5 below shows the allocation of these expenses amongst the various service
goal areas.
91.5%
Program Services & Support
4.5%
General Administration &
Capital Outlay
4.0%
Tax Collector & CRA Fees
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Figure 5.
The CSC's Annual Performance Report for the FY 2020-2021, provides an in-depth analysis of the
services provided during the year and the related outcomes in the above service goal areas. We
encourage you to take some time to review how your tax dollars benefited the community.
ECONOMIC CONDITIONS AND OUTLOOK
While the initial effects of the COVID-19 pandemic negatively affected
the local economy, and the pandemic continues to wreak havoc in the
public health sector, there are indicators of an economic recovery
underway. With the mild south Florida climate and companies
transitioning to a remote working environment, there was an infusion
of young professionals relocating to the area. Additionally, there were
14 targeted industry companies that relocated or expanded to the
area, resulting in the creation of 2,482 high-value jobs.
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Major Initiatives
The CSC engages in various community partnerships and system-building initiatives. Major initiatives in
2020-2021 included but was not limited to:
• Hunger/Food insecurity. Recognizing the hunger needs
throughout the community, the CSC works closely with various
community partners to prevent childhood hunger and funds an
array of hunger-related programs. Since the ongoing pandemic
created distribution challenges, creative ways were used to get
the food to the families in need, such as drive-through events,
home delivery, socially distanced mobile pantries, etc.
Expenditures for the various food programs totaled $488,600.
• Back to School Extravaganza. The CSC and partners
distributed 10,000 backpacks, 2,000 pairs of shoes, and
3,000 uniforms through funded providers and school
social workers. The recipients of the backpacks are
students identified by School District Social Workers as
being economically disadvantaged and often housing
insecure. The new backpacks contained grade-
appropriate school supplies and gently used books. The
CSC cost of the event was $95,700, with $94,400 donated
from the community.
• Broward Reads for the Record. Broward
Reads for the Record is a national event
created by JumpStart. This year's event
took place on October 28, 2020, with 527
volunteers reading virtually to four- and
five-year-old children who also received a
copy of the book. The CSC and other
partners expended $124,200 along with
$8,900 in donations and purchased
40,000 books provided to children to
begin their library collection. Feedback
from volunteer readers and the schools
was overwhelmingly positive.
Prepared by CSC Financial Management
If you would like this publication in an alternate format,
please call (954)-377-1000 or email us at info@cscbroward.org
Vision:
The children of Broward County shall have the opportunity to realize
their full potential, their hopes and their dreams supported by a
nurturing family and community.
Mission:
To provide the leadership, advocacy, and resources necessary to
enhance children’s lives and empower them to become responsible,
productive adults through collaborative planning and funding of a
continuum of quality care.