Comprehensive AnnualFinancial Report

Fiscal Year ended september 30, 2014

floridamanatee county

In 2014, Manatee County celebrated the creation of a new park. While the setting is not a wilderness park, and is located in an urban environment, the new Courthouse lawn educates visitors about native plants and encourages them to incorporate them into their own home landscaping.

Local governments can derive substantial benefits from promoting and protecting native vegetation that is appropriate to the area. This project promotes water conservation goals, preservation of waterways, creation of wildlife habitat in an urban area, reduction in landscape maintenance costs, and public awareness of sustainable landscaping practices.

Native plants naturally occur in the region in which they evolved. They are adapted to local soil, rainfall and temperature conditions, and have developed natural defenses to many insects and diseases. Because of these traits, native plants will grow with minimal use of water, fertilizers, and pesticides. Wildlife species evolve with plants; therefore, they use native plant communities as their habitat. Using native plants helps preserve the balance and beauty of natural ecosystems.

Other than the pre-existing magnolias and a few live oak trees, the vegetation of this native landscape was contributed and planted by many benefactors. Grants from the Manatee County Tree Trust and City of Bradenton’s Tree Trust Fund have financed trees and irrigation. The Tampa Bay Estuary Program granted funds for both plantings and educational signs. Keep Manatee Beautiful has donated and planted trees on Arbor Day. Individuals have donated countless hours of labor and knowledge, notably R.B. “Chips” Shore Clerk of the Circuit Court and Comptroller, Michael Miller of Perfect Environs Inc., and members of the Manatee County Board of Commissioners.

MANATEE COUNTY, FLORIDA

COMPREHENSIVE ANNUAL FINANCIAL REPORT

for the fiscal year ended

September 30, 2014

Board of County Commissioners

Larry Bustle, Chairman

Vanessa Baugh Betsy Benac John Chappie Robin DiSabatino

Michael Gallen Carol Whitmore

Clerk of Circuit Court and Comptroller R. B. "Chips" Shore

County Administrator Ed Hunzeker

Finance Director Daniel R. Wolfson

Prepared by the Office of the Clerk of Circuit Court

Manatee County, Florida

Comprehensive Annual Financial Report Fiscal Year Ended September 30, 2014

Table of Contents

Introductory Section

Page Transmittal Letter of the Clerk of the Circuit Court ........................................................................................... i-iv Certificate of Achievement for Excellence in Financial Reporting ........................................................................ v Organizational Chart .............................................................................................................................................. vi

Financial Section Independent Auditor’s Report ......................................................................................................................... 1a-1c Management’s Discussion and Analysis ........................................................................................................... 2-17 Basic Financial Statements: Government-Wide Financial Statements: Statement of Net Position ..........................................................................................................................18-19

Statement of Activities ...............................................................................................................................20-21 Fund Financial Statements: Balance Sheet–Governmental Funds .........................................................................................................22-23

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ................ 24 Statement of Revenues, Expenditures and Changes in Fund Balances-Governmental Funds ..............25-26 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ........................................................................27-28

Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual-General Fund ...........................................................................................................29-30 Statement of Revenues, Expenditures and Changes in Fund Balances-

Budget and Actual-Highway Special Revenue Fund ................................................................................... 31 Statement of Net Position-Proprietary Funds ...........................................................................................32-35 Statement of Revenues, Expenses and Changes in Fund Net Position-Proprietary Funds ...................36-37 Statement of Cash Flows-Proprietary Funds ............................................................................................38-41 Statement of Fiduciary Net Position-Fiduciary Funds ................................................................................... 42

Statement of Changes in Fiduciary Net Position-Fiduciary Funds ............................................................... 43 Notes to the Financial Statements ...............................................................................................................44-77 Required Supplementary Information: Schedule of Funding Progress for the Retiree Health Plan .............................................................................. 78 Schedule of Employer Contributions to Retiree Health Plan ........................................................................... 78 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet-Nonmajor Governmental Funds ........................................................................79-86 Combining Statement of Revenues, Expenditures and Changes in Fund Balances- Nonmajor Governmental Funds .................................................................................................................87-94 Schedules of Revenues, Expenditures and Changes in Fund Balances-Budget and Actual:

Special Revenue Funds: Library ...................................................................................................................................................... 95 Tourist Development ............................................................................................................................... 96 Children’s Services Tax ........................................................................................................................... 97 Miscellaneous........................................................................................................................................... 98 Unincorporated Services ......................................................................................................................... 99 911 Enhancements ................................................................................................................................ 100 Metropolitan Planning ........................................................................................................................... 101 Assessment Revenue ............................................................................................................................. 102 Impact Fees ............................................................................................................................................ 103 Federal and State Grants ............................................................................................................... 104-105 Law Enforcement ................................................................................................................................... 106 Affordable Housing ............................................................................................................................... 107 Health Care ............................................................................................................................................ 108 Community Redevelopment .................................................................................................................. 109 Building and Permitting ........................................................................................................................ 110

Debt Service Funds: General Obligation Bonds ..................................................................................................................... 111 Revenue Improvement Bonds ............................................................................................................... 112 Revenue Refunding Bonds .................................................................................................................... 113 Revenue Refunding and Improvement Bonds ...................................................................................... 114 Revenue Improvement Note .................................................................................................................. 115

Combining Statement of Net Position-Nonmajor Enterprise Funds ...................................................... 116-117 Combining Statement of Revenues, Expenses and Changes in Fund Net Position- Nonmajor Enterprise Funds.................................................................................................................. 118-119 Combining Statement of Cash Flows-Nonmajor Enterprise Funds ....................................................... 120-123 Combining Statement of Net Position-Internal Service Funds ............................................................... 124-125 Combining Statement of Revenues, Expenses and Changes in Fund Net Position- Internal Service Funds. ........................................................................................................................ .126-127 Combining Statement of Cash Flows-Internal Service Funds ................................................................ 128-129 Combining Statement of Fiduciary Net Position-All Agency Funds .............................................................. 130 Combining Statement of Changes in Assets and Liabilities-All Agency Funds .................................... 131-132 Capital Assets Used in the Operation of Governmental Funds: Schedule by Source ....................................................................................................................................... 133 Schedule by Function and Activity ....................................................................................................... 134-135 Schedule of Changes by Function and Activity ........................................................................................... 136

Statistical Section

Net Position by Component ........................................................................................................................ 137-138 Changes in Net Position .............................................................................................................................. 139-142 Changes in Fund Balances – Governmental Funds .................................................................................... 143-144 Fund Balances – Governmental Funds ....................................................................................................... 145-146 Assessed and Estimated Values of Property .............................................................................................. 147-148 Property Tax Levies and Collections .......................................................................................................... 149-150 Principal Property Taxpayers ...................................................................................................................... 151-152 Direct and Overlapping Property Tax ......................................................................................................... 153-154 Computation of Direct and Overlapping Debt ................................................................................................... 155 Computation of Legal Debt Margin .................................................................................................................... 155 Ratios of Outstanding Debt by Type .......................................................................................................... 156-157 Demographic and Economic Statistics ............................................................................................................... 158 Principal Employers ..................................................................................................................................... 159-160 Operating Indicators by Function/Program ............................................................................................... 161-164 Capital Assets by Function/Program .......................................................................................................... 165-168 Full-time Equivalent Government-wide Employees by Function ............................................................... 169-170 Special Assessment Collections .......................................................................................................................... 171 Salaries of Principal Officials ............................................................................................................................... 172 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita ............................... 173 Ratio of Annual Debt Service Expenditures for Governmental Bonded Debt to Total General Government Expenditures ........................................................................................................ 174 Manatee County Public Utilities System Schedule of Revenue Bond Coverage ............................................... 175 Manatee County Port Authority Schedule of Revenue Bond Coverage ............................................................. 176 Manatee County Port Authority Schedule of State Infrastructure Bank (SIB) Loan Coverage ......................... 177 Schedule of Debt Service Payable from Non-Ad Valorem Revenue Sources ..................................................... 178 Non-Ad Valorem Revenues Legally Available to Pay Debt Service on Certain Bonds and Other Indebtedness .................................................................................................................................. 179 Bond Issues – Description ........................................................................................................................... 180-184 Schedule of Debt Service Requirements ..................................................................................................... 185-192

Single Audit/Grants Compliance Schedules

Independent Auditor’s Reports............................................................................................................... 193a-194b Schedule of Expenditures of Federal Awards and State Financial Assistance ......................................... 195-201 Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance .......................... 202-204 Schedule of Findings and Questioned Costs ............................................................................................. 205-208

Supplemental Section

Independent Accountant’s Report on Examination of Compliance Management Letter – Board of County Commissioners

Financial Statements, Independent Auditor’s Reports and Management Letters/Responses for: Clerk of Circuit Court

Property Appraiser Sheriff

Supervisor of Elections Tax Collector

Manatee County

Florida

Coontie, Zamia pumila

Photos: Cathy Slusser

The Coontie, an ancient cycad species, is native to the pine flatwoods of Manatee County, as well as to other plant communities in Florida. It was the primary source of starch and flour for the Seminole Indians. Used as a food source until near extinction, the Coontie now thrives as an environmentally beneficial landscape plant. Coontie can be established in a short time with minimal irrigation, and requires no watering, fertilizer or trimming thereafter.

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“Pride in Service with a Vision to the Future” Clerk of the Circuit Court – Clerk of Board of County Commissioners – County Comptroller – Auditor and Recorder

R. B. “Chips” Shore CLERK OF THE CIRCUIT COURT AND COMPTROLLER OF MANATEE COUNTY

1115 Manatee Avenue West, Bradenton, Florida 34205 - Phone (941) 749-1800 – Fax (941) 741-4082 P.O. Box 25400, Bradenton, Florida 34206 - www.manateeclerk.com

November 24, 2014 To the citizens of Manatee County:

We are pleased to present to you, the citizens of Manatee County, the Comprehensive Annual Financial

Report of Manatee County, Florida for the fiscal year ended September 30, 2014. This report was prepared in accordance with generally accepted accounting principles by the Finance Department of the Clerk of the Circuit Court. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the Clerk of the Circuit Court and Comptroller as Chief Financial Officer of Manatee County (www.manateeclerk.com).

The Clerk of the Circuit Court and Comptroller, through the Finance Department, is responsible for establishing and maintaining internal controls to provide reasonable, but not absolute, assurance regarding the safeguarding of assets against loss from unauthorized use or disposition, the reliability of financial records for preparing financial statements and maintaining accountability for assets. The concept of reasonable assurance recognizes that the cost of a control should not exceed the benefits likely to be derived, and the evaluation of costs and benefits requires estimates and judgments by management. All internal control evaluations occur within the above framework. We believe that the County's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions.

We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the County as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain a comprehensive understanding of the County's financial activity have been included.

Chapter 218.39 of the Florida Statutes requires an independent certified public accountant’s financial audit of counties in the State. This requirement has been met for the fiscal year ended September 30, 2014 and the report of the independent auditors has been included in the financial section of this report. In addition to meeting the requirements set forth in state statutes, the audit was also designed to meet the requirements of the federal 1996 Single Audit Act Amendments and the related OMB Circular A-133. The standards governing single audit engagements require the independent auditor to report on the government’s internal controls and compliance with legal requirements with special emphasis on the administration of federal awards. Information related to the single audit, including schedules of federal awards and state financial assistance and independent auditor’s reports of the internal control structure and compliance with requirements applicable to federal financial assistance, are included in this report.

Manatee County is a non-charter county established under the Constitution and the laws of the State

of Florida. The Board of County Commissioners is the legislative body for Manatee County and is made up of seven residents elected by county voters; one from each of five districts and two at large. In addition to the county commission, voters elect five constitutional officers: Clerk of Circuit Court and Comptroller, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector.

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Governmental accounting and auditing principles require that management provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. Manatee County’s MD&A can be found immediately following the independent auditor’s report.

County organization. Manatee County encompasses 740 square miles with a population of 337,546 and has six incorporated cities within its borders; Anna Maria, Bradenton, Bradenton Beach, Holmes Beach, Longboat Key and Palmetto.

Manatee County provides a full range of services including police, health and social services, emergency

medical services, water, sewer, garbage and recycling services, mass transportation services, and cultural and recreational programs. Since the county commission also serves as the governing boards of the Manatee County Port Authority and the Manatee County Civic Center Authority, these entities are included in this report.

Formal budgetary integration is employed as a management control device during the year. Constitutional officers funded by the Board must submit their budgets by May 1 of each year. After work sessions are conducted on departmental budgets and constitutional officers requests, a tentative budget is submitted to the public by Board resolution and two public hearings are held to obtain taxpayer comments. At the final public hearing the final budget is adopted. Budget changes at the department level within fund, are approved by the Financial Management Department under the direction of the County Administrator. The Board must approve all other changes. Budget to actual comparisons are presented in this report for each individual fund for which an annual budget has been adopted. For the general fund and the highway special revenue fund, these comparisons are included in the basic financial statement section. The nonmajor special revenue and debt service funds budget to actual comparisons are included in the combining and individual statements and schedules section of this report. Manatee County follows the laws of Florida regarding the control, adoption and amendment of the budget during each fiscal year; however, the County Commission increases the level of budgetary control because they approve all departmental budgetary changes by resolution.

Local economy. Located in the central part of Florida’s west coast, Manatee County has historically been one of the fastest growing regions in the nation. The economic unease experienced since 2007 continues to impact the County’s ten year average growth rate, decreasing it to 1.2% per year. The 1.16% increase experienced in the current year is evidence that while certain segments of the local economy are once again seeing growth, it has yet to spread throughout all areas.

The County’s industry base is diversified with the three largest industry sectors being services, retail and

manufacturing. The County also has a strong agricultural base. Tourism numbers reached record levels in 2014, with bed tax revenues topping $10 million during the year. Thanks in part to several County initiatives and improved tourism, the County’s estimated unemployment rate dropped from 7.5% last year to a current level of 6.1%. The unemployment rate is expected to decline further in 2015 as both construction and tourism continue to post positive gains.

Another indicator of economic recovery is the 3% increase to the County’s property tax base, resulting in a $5.9 million increase in taxes. Despite this modest growth in revenue, the current budget still remains over $71 million lower than that of fiscal year 2007. The rebound in values still continues as property tax revenues remain 32.6% lower than in 2007.

Long-term financial planning. Unassigned fund balance in the general fund falls within the informal policy guidelines used by the Financial Management Department for determining budgeting and planning purposes. During fiscal year 2010, the Manatee County Board of County Commissioners (the “Board”) approved and adopted a more formal policy guideline establishing a minimum cash reserve at or around 20% of the fund’s total budgeted operating expenditures, to insulate the general fund from fluctuations in revenues, to be prepared in the event of a natural or man-made disaster, and to reduce the amount that will need to be borrowed to finance future construction.

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Relevant financial policies. The Manatee County Financial Management Department began a zero-based budgeting program in fiscal year 2009. The zero-based budget process has produced an orderly, prioritized and fairly precise menu of choices upon which to base recommendations for many of the proposed budget items. This budget process provides opportunities to get a fresh look at County priorities within the services it delivers to the community. The zero-based budget process and changing economy have helped to reverse the traditional expectation that expenses and service levels will always trend upward.

A Budget Stabilization Reserve was established for the fiscal year 2010. This concept will be continued through fiscal year 2015, and is intended to allow for a measured drawdown of reserves through fiscal year 2018, with the expectation that by then revenues will begin to rebound, and the increased revenue can then supplant the diminished, non-recurring reserves in future budgets. The Budget Stabilization Reserve has allowed the County to maintain some level of stability in funding for critical programs during the time that revenues have fallen substantially. Since 2007, Manatee County’s property tax revenues have been reduced by approximately $76 million.

The Treasury Management Division of the Finance Department monitors the daily cash needs of the County and invests the County's portfolio, maximizing investment returns, in accordance with the County's written investment policy.

Major initiatives. In fiscal year 2009, the Board of County Commissioners adopted a series of policies and initiatives aimed at spurring the local economy and have approved economic development incentive grants of nearly $7.6 million to 67 companies that will help create or retain more than 4,000 jobs through fiscal year 2021.

Manatee County departments continued to streamline processes and improve customer service to the public. Manatee County’s Economic Development division served nearly 121 companies in 2014 helping business owners to begin, relocate, remain and expand operations in Manatee. The County’s building and permitting fees have dropped 16% since 2011.

Awards. The Government Finance Officers Association awarded a Certificate of Achievement for Excellence in Financial Reporting to the Manatee County Clerk of the Circuit Court for its Comprehensive Annual Financial Report for Manatee County for the fiscal year ended September 30, 2013. This was the 35th consecutive year that we have earned this prestigious award for Manatee County. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized Comprehensive Annual Financial Report. This report satisfied 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

Comprehensive Annual Financial Report continues to meet the Certificate of Achievement Program's requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate.

The County has also received the Award for Outstanding Achievement in the Popular Annual Financial

Reporting for the past fifteen years. This award is given for those reports whose contents conform to program standards of creativity, presentation, understandability and reader appeal.

In addition, Manatee County also received the GFOA Award for Distinguished Budget Presentation for its

annual appropriated budget dated October 1, 2013. This was the 29th time that Manatee County received this award. In order to qualify for the Distinguished Budget Presentation Award, the government's budget document was judged to be proficient in several categories including policy documentation, financial planning and organization.

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Acknowledgments. This report is a product of the dedication of the Finance Department of the Clerk of the Circuit Court of Manatee County as Auditor and Comptroller to the Board of County Commissioners. We would like to thank the entire staff of the Finance Department who worked so hard and long on the report.

We would also like to express our appreciation and thanks to the firm of Shinn & Company, LLC, CPAs, who helped us with their comments and advice. Thanks also to Jim Seuffert and his staff in the Department of Financial Management for Manatee County.

Sincerely, R. B. "Chips" Shore Daniel R. Wolfson, CPA Clerk of Circuit Court and Comptroller Finance Director RBS:DRW:jh

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VOTERS

CLERK OF

CIRCUIT COURT

BOARD OF

COUNTY

COMMISIONERS

TAX COLLECTORSUPERVISOR OF

ELECTIONS

PROPERTY

APPRAISERSHERIFF

COUNTY

ADMINISTRATOR

COUNTY

ATTORNEY

CIVIC CENTER

AUTHORITY

COMMUNITY

REDEV AGENCY

COMMUNITY

SERVICES

BUILDING &

DEVELOPMENT

SERVICES

FINANCIAL

MANAGEMENT

HUMAN

RESOURCES

INFORMATION

TECHNOLOGY

NEIGHBORHOOD

SERVICES

PARKS & NATURAL

RESOURCES

PROPERTY

MANAGEMENTUTILITIESPUBLIC SAFETY PUBLIC WORKS

EEO POLICY

ADMINISTRATOR

- - - - - - Does not report to the Board of County Commissioners

CVB/CONVENTION

CTR

MANATEE COUNTY GOVERNMENTSeptember 30, 2014

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Manatee County

Florida

Sunshine Mimosa, Mimosa stigulosa

Photos: Cathy Slusser

A Florida native, Sunshine Mimosa is also known as the Powderpuff for its round fluffy blossoms. A legume, a member of the bean family and a vining groundcover, Sunshine Mimosa is drought tolerant once established. Its compound leaves are comprised of tiny leaflets that usually fold up when touched. Sunshine Mimosa makes a great lawn alternative growing in poor soil and requiring infrequent mowing.

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INDEPENDENT AUDITOR’S REPORT

Honorable Members of the Board of County Commissioners Manatee County, Florida

Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of Manatee County, Florida (the “County”), as of and for the year ended September 30, 2014, and the related notes to the financial statements, which collectively comprise the County’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in 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 financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

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Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the County, as of September 30, 2014, and the respective changes in financial position, and, where applicable, cash flows thereof and the respective budgetary comparison for the General Fund and Highway Special Revenue Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis on pages 2-17, and the schedule of funding progress and schedule of employer contributions on page 78 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the County’s basic financial statements. The introductory section, combining and individual nonmajor fund financial statements and schedules, capital assets used in the operation of governmental funds schedules and statistical section, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The schedule of expenditures of federal awards and state financial assistance is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and the Florida Single Audit Act, and is also not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements and schedules, capital assets used in the operation of governmental funds schedules, and the schedule of expenditures of federal awards and state financial assistance are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally

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accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules, capital assets used in the operation of governmental funds schedules, and the schedule of expenditures of federal awards and state financial assistance are fairly stated in all material respects in relation to the basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 24, 2014, on our consideration of the County’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the County’s internal control over financial reporting and compliance.

CERTIFIED PUBLIC ACCOUNTANTS Bradenton, Florida November 24, 2014

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Management’s Discussion and Analysis

As Clerk of Circuit Court and Comptroller for Manatee County, Florida, I offer readers of the County’s financial statements this narrative overview and analysis of the financial activities of Manatee County Government for the fiscal year ended September 30, 2014. I encourage readers to consider the information presented here in conjunction with additional information furnished in the letter of transmittal, which can be found on pages i-iv of this report. All amounts, unless otherwise indicated, are expressed in thousands of dollars. Financial Highlights

• Manatee County’s assets exceeded its liabilities (net position) at September 30 by $2,079,950 for fiscal year 2014 as compared to $2,043,345 last fiscal year end. Unrestricted net position may be used to meet the County’s ongoing obligations to citizens and creditors; Manatee County’s unrestricted net position at September 30 amounted to $429,772, a decrease of $14,628 from the previous fiscal year.

• The County’s total net position this fiscal year increased $36,605 over the previous year,

resulting from an increase of $9,280 from governmental activities and an increase of $27,325 from business-type activities.

• At September 30, Manatee County’s governmental funds statements reported combined

ending fund balances of $334,197, a decrease of $14,577 over the previous fiscal year.

• The General Fund reported an unassigned fund balance of $69,810.

• Total bonded debt and loans of Manatee County Government decreased $15,719 in fiscal year 2014.

• Closure estimates of the County’s Lena Road Landfill approved by state and federal

authorities resulted in an increase to the closure liability of $1,242 for fiscal year 2014. The County now holds $35,010 for these closure purposes with the current estimated remaining landfill life of 31 years.

• The County’s average interest earnings rate increased over the prior year, from .362% in

2013 to .491% in 2014, resulting in higher interest earnings for the County. Overview of the Financial Statements

My discussion and analysis is intended to serve as an introduction to Manatee County Government’s financial statements, which include government-wide statements, fund statements, and notes to the basic financial statements. There is additional supplementary information following these financial statements, which may be of interest to the reader. Government-Wide Financial Statements

Government-wide financial statements are designed to provide you with a broad overview of the financial position of Manatee County and are similar to private-sector financial statements. They include a Statement of Net Position and a Statement of Activities. These statements appear on pages 18 to 21 of the report.

The Statement of Net Position shows the County’s assets plus deferred outflows of resources

less its liabilities plus deferred inflows of resources at September 30, 2014. The difference

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between these assets and deferred outflows of resources and liabilities and deferred inflows of resources is reported as net position. Changes in net position over time may be helpful in indicating an improving or deteriorating financial position.

The Statement of Activities follows the Statement of Net Position and presents information

showing how the net position changed during the fiscal year. The statement presents all underlying events, which give rise to the change, regardless of the timing of the related cash flows. Some included items, such as accounts payable or earned but unused vacation leave, will produce changes in cash in a future fiscal period.

Both of the government-wide financial statements distinguish functions of Manatee County

that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities).

Governmental activities reported in the statements include general government, public safety,

physical environment, transportation, economic environment, human services and culture and recreation. Major business activities in Manatee County include water and sewer, seaport, solid waste collections and landfill operations. Other business activities include the County’s stormwater and transit operations, as well as a convention center. Manatee County’s Port Authority and Civic Center Authority are separate legal entities, but the Manatee County Commission serves as their governing boards. Both authorities function for all practical purposes as departments of Manatee County and have been included as integral parts of Manatee County’s financial statements under business-type activities. In August of 2014, the Board of County Commissioners adopted an ordinance which provided for the abolishment of the separate Civic Center Authority, effective September 30, 2014.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Like other state and local governments, Manatee County uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All funds of Manatee County government can be divided into three categories: governmental, proprietary and fiduciary funds. Governmental Funds

Governmental funds, presented on pages 22 to 31, essentially account for the same functions as those reported under the governmental activities column of the government-wide Statement of Net Position and Statement of Activities. However, this set of financial statements focuses on events that produce near-term inflows and outflows of spendable resources as well as on the balances of spendable resources available at the end of the fiscal year and is a narrower focus than the government-wide financial statements. Such information may be useful in evaluating Manatee County’s near-term financing requirements and available resources.

By comparing functions between the two sets of statements for governmental funds and

governmental activities, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison.

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Governmental funds individually presented in Manatee County’s statements include three major funds: the General Fund, Highway Special Revenue Fund and the Impact Fees Capital Projects Fund. Although there are many smaller governmental funds in Manatee County Government, they have been presented in a total column termed as “other governmental funds.” Combining statements for these other governmental funds have been presented elsewhere in the report. Proprietary Funds

Manatee County maintains and presents two different types of proprietary funds, enterprise and internal service, on pages 32 to 41 of this report.

Enterprise funds report, in greater detail, the same information presented as business-type activities in the government-wide financial statements for water and sewer, port, solid waste and landfill operations, as well as transit, stormwater, and civic center. Civic center, transit, and stormwater are presented in one total column but may be separately reviewed in the combining statements on pages 116 to 123.

Internal service funds are an accounting mechanism to accumulate and allocate costs internally for Manatee County Government. The County uses internal service funds to account for central stores, motor pool, communications, self-insurance, health self-insurance and automated systems maintenance activities. The internal service funds are presented, in total, in the fund financial statements but may be reviewed in the combining statements on pages 124 to 129. Fiduciary Funds

Manatee County uses fiduciary funds to account for resources held for the benefit of parties outside county government. Although these funds are presented in the fund set of statements, they do not appear in the government-wide financial statements because the resources of fiduciary funds are not available to support Manatee County Government’s own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. These funds are presented on pages 42 and 43 of this report. You will note that funds held by Manatee County for investment at the behest of other local governments are reflected in this section as the Investment Trust Fund. Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in both government-wide and fund financial statements. Notes are presented on pages 44 to 77 of the report. Other Information This report presents certain required supplementary information on page 78 concerning Manatee County’s progress in funding its obligation to provide other post-employment benefits to its employees. Combining and individual statements and schedules referred to earlier, which present more detailed views of nonmajor funds used in governmental and enterprise funds, begin on page 79. This section includes budget to actual schedules for nonmajor special revenue funds and debt service funds. Also included are statements for internal service and agency funds. Additional information about the County, which may be of interest to the reader, is found under the Statistical and Single Audit sections of this report.

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Government-Wide Financial Analysis

Comparative data for fiscal years ending September 30, 2014 and 2013 are shown below.

As noted earlier in my discussion, changes in net position over time can be one of the best and most useful indicators of financial position. The overall financial position of the County improved in both fiscal years 2014 and 2013; the increase in net position for the fiscal years ending September 30, 2014 and 2013 amounted to $36,605 and $24,742, respectively. Manatee County’s increasing growth rates, coupled with a decrease in the unemployment rate to 6.1% and continued increases in both the building market and in tourism activities, provide evidence of a modest rebound to the local economy.

The County, for both fiscal years, reported positive balances in all categories of net position in both governmental and business-type activities. The County’s unrestricted net position at September 30, 2014 decreased $14,628, and its restricted net position decreased $2,700. Unrestricted net position is comprised of County resources that may be used to meet the County’s ongoing obligations to its citizens and creditors, while restricted net position describes resources subject to external restriction. The decrease in unrestricted net position is principally the result of expenditures utilized for capital assets and construction projects. The use of restricted bond proceeds for utility construction projects was the largest contributor to the decrease in the County’s restricted net position from 2014 to 2013.

Manatee County’s investment in capital assets such as land, roads, parks, buildings, machinery and equipment, as a percentage of net position, amounts to 78.58% and 77.35% at September 30, 2014 and 2013, respectively. These asset values are presented less any outstanding debt related to the acquisition and accumulated depreciation of those assets. The County uses capital assets to provide services to the citizens and consequently these assets are not available for future spending. Although the investment in capital assets is reported net of

2014 2013 2014 2013 2014 2013

Current/other assets$ 416,912 $ 428,399 $ 264,595 $ 271,564 $ 681,507 $ 699,963 Capital assets 993,610 971,279 886,371 861,053 1,879,981 1,832,332 Total assets 1,410,522 1,399,678 1,150,966 1,132,617 2,561,488 2,532,295

5,386 6,477 1,058 1,280 6,444 7,757

Long-term liabilities 205,355 208,375 212,335 218,691 417,690 427,066 Other liabilities 48,444 44,951 21,848 24,690 70,292 69,641 Total liabilities 253,799 253,326 234,183 243,381 487,982 496,707

894,627 859,551 739,886 721,029 1,634,513 1,580,580 Restricted 5,306 6,889 10,359 11,476 15,665 18,365 Unrestricted 262,176 286,389 167,596 158,011 429,772 444,400 Total net position $ 1,162,109 $ 1,152,829 $ 917,841 $ 890,516 $ 2,079,950 $ 2,043,345

Net investment in capital assets

Manatee County Net Position (in thousands)

TotalBusiness-typeGovernmental

Act ivit ies Act ivit ies

Deferred outflows of resources

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related debt, the capital assets themselves cannot be used to liquidate that liability; and other resources will be needed to repay any associated debt.

2014 2013 2014 2013 2014 2013Program revenues:Charges for services $ 75,510 $ 64,979 $ 159,744 $ 156,713 $ 235,254 $ 221,692 Operating grants and contributions 18,413 25,503 5,769 4,923 24,182 30,426 Capital grants and contributions 11,001 3,985 25,125 31,248 36,126 35,233

General revenues:Property taxes 160,543 154,445 - - 160,543 154,445 Other taxes 62,113 54,968 - - 62,113 54,968 State revenue sharing 7,797 7,249 - - 7,797 7,249 Interest income 1,504 1,347 19 15 1,523 1,362 Miscellaneous 16,852 10,547 143 162 16,995 10,709 Total revenues 353,733 323,023 190,800 193,061 544,533 516,084

Expenses:General government 80,600 77,800 - - 80,600 77,800 Public safety 146,534 141,768 - - 146,534 141,768 Physical environment 8,444 8,034 - - 8,444 8,034 Transportation 36,872 35,118 - - 36,872 35,118 Economic environment 13,965 16,159 - - 13,965 16,159 Human services 32,469 31,844 - - 32,469 31,844 Culture and recreation 17,538 17,339 - - 17,538 17,339 Interest long-term debt 4,677 4,195 - - 4,677 4,195 Water and sewer - - 98,723 91,871 98,723 91,871 Port Authority - - 15,452 15,311 15,452 15,311 Solid waste - - 33,048 32,404 33,048 32,404 Transit - - 12,392 12,289 12,392 12,289 Stormwater - - 4,917 4,836 4,917 4,836 Civic center - - 2,297 2,374 2,297 2,374 Total expenses 341,099 332,257 166,829 159,085 507,928 491,342 Increase in net position before transfers 12,634 (9,234) 23,971 33,976 36,605 24,742 Transfers (3,354) (1,743) 3,354 1,743 - -

Changes in net position 9,280 (10,977) 27,325 35,719 36,605 24,742 Net position - beginning 1,152,829 1,163,806 890,516 854,797 2,043,345 2,018,603 Net position - ending $ 1,162,109 $ 1,152,829 $ 917,841 $ 890,516 $ 2,079,950 $ 2,043,345

Manatee County Changes in Net Position

TotalGovernmental

Act ivit iesBusiness-type

Act ivit ies

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Total cash and cash equivalents decreased by $18,581 from the previous year. In the business-type activities, the $7,068 increase in the current asset category of cash and cash equivalents is the result of higher numbers of customer accounts, coupled with the first full year of revenue after the prior year’s rate increase of 3% for the Water and Sewer and Solid Waste funds. The Water and Sewer fund added 742 new reclaimed water accounts in fiscal year 2014 as the County experienced increases in building and development, and began charging late fees in the current year, contributing $702 to its revenues. Business-type restricted cash and cash equivalents decreased by $14,252 from the use of bond proceeds issued in previous periods for capital asset construction. Total governmental cash and cash equivalents decreased $11,397 from the prior year, predominantly related to an increase of expenditures for the construction of capital projects. This is partially offset by the net increase of $431 in restricted cash and cash equivalents from proceeds of bonds issued, but not yet used for construction of capital assets.

A comparison of current unrestricted assets as compared to current unrestricted liabilities for

both governmental and business-type activities can be a good indication of the County’s ability to meet its current and existing operational responsibilities.

The ratio for both years is as follows:

The County continues to maintain healthy ratios as noted above which indicates more than adequate cash flows for Manatee County. Governmental Activities

Overall, spending on governmental activities increased, when compared to fiscal year 2013. Revenues in fiscal year 2014 include increases in charges for services of $10,531, with additional increases in tourist taxes. An increase of $1,523 in tourist tax revenues is a positive indication that the tourist component of the County’s economy is continuing to improve. A steady growth in the sports market and in international visitors is attributable to strong state and local promotional initiatives. In addition, the recent development of a world-class rowing facility has already begun to provide global recognition and increased visitors to the area. The increase in charges for services is predominately due to higher revenues in the general government, public safety, transportation, and culture and recreation functions. Operating grants and contributions decreased by $7,090, primarily in the economic environment and

Fiscal year ending September 30, 2014:

Current unrestricted assets $ 399,516 $ 206,742 Current unrestricted liabilities $ 46,717 $ 12,747 Ratio of current assets to

current liabilities 8.55 16.22

Fiscal year ending September 30, 2013:

Current unrestricted assets $ 411,264 $ 199,365 Current unrestricted liabilities $ 44,867 $ 14,909 Ratio of current assets to

current liabilities 9.17 13.37

Comparison of Current Unrestricted Assets and Liabilit ies

Governmental Business-typeAct ivit ies Act ivit ies

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human services functions, as funding sources were received in prior years. Capital grants and contributions increased by $7,016, principally in the public safety, physical environment and transportation functions, due to amounts expended in anticipation of grant reimbursements.

All of the above factors contributed to Manatee County posting an increase of $20,257 in net position for governmental activities, resulting in an overall increase of $9,280 for fiscal year 2014, as compared to the $10,977 decrease for fiscal year 2013. The change in net position represents a percentage increase of .81% and a decrease of .94%, respectively, over the previous year.

Business-type Activities

Increases in net position for business-type activities totaled $27,325 and $35,719 for fiscal years 2014 and 2013, respectively, which represented 3.07% and 4.18% increases over the previous fiscal years. Significant changes can be seen from the previous year to changes in net position from expenses and program revenues. Water and Sewer continued to show solid revenues from operations, resulting in an increase in net position of $28,595. The current year’s net position change is $2,719 lower than the previous year’s $31,314 amount of change, primarily due to an increase in expenses resulting from the addition in fiscal year 2014 of a payment in lieu of franchise fees that was paid to the General Fund. However, these increased expenses are offset by higher revenues related to a rate increase in the prior year. Additionally, water installations are up 51% and reclaimed water connection fees are up 122% over the prior year, as the economy continues to improve after several years adrift. The Port Authority posted an increase of $163 in net position, appreciably less than the $5,685 increase experienced in fiscal year 2013, attributable to capital grant reimbursements for the Port’s Berth 14 extension and the construction of an adjacent intermodal container yard in the prior year. The Port did have an increase in operating grants from a security grant as well as various pass-through grants, which the Port administers. Solid Waste’s increase in net position of $5,390 was $110 lower than the $5,500 change in 2013; this is a function of increases in tipping and collection fees, which were offset by higher garbage collection service costs and expenses related to its closure estimate.

Stormwater's decrease in net position of $4,824 was $1,567 greater than last year’s decrease due to the $1,400 in capital grants and contributions received during fiscal year 2013 related to the Ware’s Creek flood control project. Transit’s net position decrease of $4,750 was $289 larger than in the prior year, reflecting fuel costs not eligible for grant reimbursement and the repainting and rebranding of the County’s bus fleet. Civic Center's net position decrease of $765 was $217 less than in the prior year. This reflects higher revenues due to increased facility usage and lower costs related to its renovation and landscaping that were completed during fiscal year 2013.

Financial Analysis of Manatee County’s Funds As noted earlier, Manatee County employs fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental Funds

Governmental funds provide information on near-term inflows, outflows, and balances of spendable resources. In assessing Manatee County’s financing requirements, unassigned fund balance is a particularly useful measure of net resources available for spending at the end of the fiscal year. The governmental fund types include the general fund, special revenue, debt service and capital project funds.

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Manatee County’s governmental funds reported combined fund balances of $334,197 for 2014, a decrease from the previous year of $14,577. In comparison, fiscal year 2013 showed an increase of $3,695 from fiscal year 2012. Governmental funds held restricted, committed or assigned amounts totaling $245,300 in 2014 to reflect the various constraints placed on those resources for future use, as well as $19,087 for non-spendable amounts reflecting prepaid items, inventory and long-term advances made to other funds.

Highway Impact FeesSpecial Capital

General Revenue ProjectsFund Fund Fund

Fiscal Year 2014Revenues and other sources $ 227,650 $ 32,489 $ 10,200 Expenditures and other uses 234,852 33,907 10,548 Increase (decrease) infund balance $ (7,202) $ (1,418) $ (348)

Fiscal Year 2013Revenues and other sources $ 214,352 $ 31,722 $ 10,189 Expenditures and other uses 219,975 27,201 8,114 Increase (decrease) infund balance $ (5,623) $ 4,521 $ 2,075

Major Fund Information

General Fund The General Fund is the chief operating fund of the County. At September 30, 2014, the total fund balance in the General Fund was $92,470 of which $69,810 was unassigned. As a measure of the General Fund’s liquidity, total fund expenditures compared to both total and unassigned fund balances show percentages of 41.60% and 31.40% for fiscal year 2014 as compared to 47.88% and 35.64%, respectively, for 2013. The County unemployment rate of 6.1%, equal to the State level, continues to be slightly above the Federal rate this year. Total revenues in the General Fund increased 8.41%, driven in part by property tax revenues, sales tax revenue, and the new payment in lieu of franchise fees. The new payment in lieu of franchise fees is based on 5.9% of operating revenues collected by the Water and Sewer Fund. Expenditures increased 6.79%, which included continued building renovations by Property Management, and public safety expenditures for improvements to the Emergency Operations Center and additional equipment for the Sheriff. Also, the General Fund experienced an increase in transfers to the capital improvement fund for the energy savings project. When these changes in revenue and expenditures are combined with transfer activity, the General Fund experienced a net decrease to fund balance of $7,202, as compared to fiscal year 2013 net decrease to fund balance of $5,623. Other Major Governmental Funds The major governmental funds table also discloses information regarding the other two major governmental funds of the County. Data for Highway Special Revenue and Impact Fee Capital Projects funds are presented for fiscal years 2014 and 2013. The Highway fund’s gas tax revenues have increased by $746 in fiscal year 2014, which reflects the continued growth of tourism in our area. Ad valorem revenues for the Highway

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Special Revenue Fund increased by $162, as the County’s property values continued to see modest gains over the prior year. Operating costs rose $5,235 or 26.76% over the prior year due to the increase of gas tax payments to the municipalities related to the improved gas tax revenues and higher local road construction and improvement spending, as several large paving projects commenced. This fund also experienced additional expenditures for equipment and personnel, as the new traffic management center came online this fiscal year. The traffic management center shares real-time traffic data with Sarasota County and the cities of Bradenton and Sarasota. Transfers from the Impact Fee special revenue fund are the major funding source in the Impact Fees Capital Projects fund and are made as needed to provide funding for the acquisition or construction of qualifying capital improvements. During 2013, this transfer funding totaled $9,998, which was $95 more than the $9,903 transferred in the current year. This reduced amount and normal variations in capital spending from year to year led to a modest decrease in fund balance this fiscal year. Budgetary Highlights

Operating a government the size of Manatee County is a dynamic business and budget amendments are approved throughout the year. The budget to actual statement is provided in the financial statements for the General Fund on pages 29 and 30. Budget columns are provided for both the original budget adopted for fiscal year 2014 as well as the final budget.

Budgeted Revenues: A comparison of original budget to final budget for general fund revenues shows a large revenue budget adjustment in intergovernmental revenues. This increase is related to budgeting for grants as approved by other governments and outside agencies.

A comparison of the final budget to actual general fund revenues shows differences for taxes due to better than anticipated collections, reflecting the County’s generally conservative approach to estimating revenues. Intergovernmental revenues were higher than anticipated, primarily attributable to the inception of a Payment in Lieu of Franchise Fee from Utilities. In addition, the County’s half-cent sales tax collections increased due to continued stable economic conditions. The difference in charges for services is from excess fees earned by constitutional officers and increased indirect cost revenue, which is a function of the interdepartmental cost allocations. Interest earnings had an increase greater than anticipated this year, accounting for the difference from the budgeted amount.

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Budgeted Expenditures: Primary General Fund budget changes, followed by the reason for the change, include the following:

Budget

Increase General Fund Department

(Decrease) Reason for variance

Clerk of Circuit Court $ 1,399 Roll-forward of prior year amounts for computers, enhancements for the Clerk's accounts payable and imaging processes, official records software and landscaping improvements to the Historic Courthouse.

Community Services 1,063 Roll-forward of prior year amounts for Medicaid match, adjustments to fund the Manatee School Driver's Education Program, Health Care Response Act, Disabled Access Public Health Unit, and Medical Examiner Transport. In addition, current year appropriations were increased for the Medicaid Match and personnel costs.

Information Technology 2,248 Roll-forward of prior year amounts and additional appropriations for software enhancements, support and computer equipment, including additions to the fiber optic network for the South County Loop. In addition, increases to personnel costs were due to replaced positions in the current year.

Property Management 1,645 Roll-forward of prior year amounts for the balance of the Desoto Center improvements, resurfacing and installation of a roof mitigation system at the Emergency Operations Center, with additional appropriations for personnel costs, building security camera systems, and additional repairs and maintenance at various County and courthouse facilities.

Sheriff 9,058 Roll-forward of prior year amounts for balance of property and evidence storage facility renovations. Additional appropriations for personnel expenses, computers and computer training, vehicles, specialized camera system, and equipment.

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Primary differences between the final amended budget and actual expenditures are briefly summarized as follows:

Positive

General Fund Department

Variance Reason for variance

Clerk of Circuit Court $ 2,298 Appropriations for the Clerk encumbered but not expended in the current year related to landscape improvements at the Historic Courthouse, purchases of servers and software improvements.

Community Services 1,357 Appropriations encumbered but not expended in the current year related to reimbursements to non-profit agencies and based on services provided. Also added additional funding for programs such as the Manatee School Drivers' Education Program.

Information Technology 1,866 Appropriations for various software, hardware and fiber optics enhancement costs for continuing projects not expended will be carried over to the next fiscal year.

Property Management 1,897 Amounts encumbered but not yet expended for repairs and installation of roof mitigation system, improvements at the Desoto Center and multiple County facilities. Also, amounts associated with continued maintenance of County buildings and park facilities.

Public Safety 1,026 Appropriations encumbered but not expended in the current year involved the replacement of current software and the new traffic signalization system. Also, a budget variance in personal services was due to a decrease in personnel costs related to attrition and vacancies at the Marine Rescue division.

Sheriff 6,510 Appropriations for continuing renovations of the property and evidence storage facility and replacement of vehicles and computer software were not expended in the current year and will be carried over to the next fiscal year.

Supervisor of Elections 3,189 Roll forward of prior year amounts for the acquisition of a new voting system, and replacement of computers.

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Proprietary Funds Proprietary fund statements provide the same information as in the business-type activities column of the government-wide statements, but in greater detail and on a fund basis, for enterprise funds and the government’s internal service funds.

Enterprise Funds: At September 30, 2014, total net position amounted to $903,112 for enterprise funds as compared to $877,183 at September 30, 2013. Net position changes are a result of operations, other non-operating revenues and expenses, capital contributions and donated assets and grants. The increase in net position for enterprise funds of $25,929 was $9,265 less than fiscal year 2013, representing a 26.33% decrease, which is mostly attributable to lower capital grants and contributions revenues and an increase in operational expenses. Income from operations is the result of operational revenues less operational expenses. The following table shows net income or losses from operations for all enterprise funds. The Water and Sewer Fund enjoyed continued strong growth in the number of new customer accounts and higher rate revenues related to the water and sewer consumption rate increase in the prior year. Although the Solid Waste Fund’s garbage collection revenues were higher in fiscal year 2014 due to increased numbers of customer accounts, the fund experienced a decrease in operational gains due to higher tipping fee expenses and waste hauler rate increases. The Port Authority continues to show an operational loss in fiscal year 2014. As a result of economic conditions, operating revenues were impacted by a decrease in dockage and switching revenues directly related to an agent’s loss of a fertilizer cargo customer which has been partially offset by gains from other commodities. In addition, non-recurring corn and grain imports during fiscal year 2013 also contributed to the decrease in dockage. Personal services expenses decreased in fiscal year 2014 due to both a reduction of staff and a furlough day per month taken by each staff member. Total non-operating expenses showed an increase due to the Port Authority's role as fiduciary agent of the 2011 Port Security Grant Program. As fiduciary agent, the Port reimbursed sub-grantee expenses after reimbursement was received from the grantor agency. The Transit Fund normally shows a net loss because the transit system recovers a large portion of its expenses from operating grants. The Transit Fund experienced an increase in operating revenue due to the expansion of the transportation disadvantaged program which added additional bus routes and frequencies for its users. An increase in vehicle maintenance was mainly due to mechanical overhauls of several buses and the repainting and rebranding of buses to match the County’s new unified color scheme. This, along with the fuel costs, contributed to the transit system’s current year’s operating loss. The Transit Fund also receives transfer funding for its operations and capital projects from the Highway Special Revenue Fund. These transfers increased by $1,191 in the current year, mainly for operating expenses. The Stormwater Fund experienced a decrease in operating revenues due to a reduction of internal work orders during the current year. In fiscal year 2013, the Stormwater Fund received $1,400 in capital grants and contributions related to a large dredging project being undertaken in the Wares Creek drainage area, compared to only $27 received in fiscal year 2014. Stormwater’s operating expenses increased due to seawall dredging from outfalls located at Bay Drive. It also receives transfers from the Solid Waste Fund in support of its operations. Likewise, the Civic Center receives transfers from the General Fund and the Tourist Development Special Revenue Fund to support its operations. The Civic Center improved its net position with increased operating revenues and a considerable decrease in operating expenses as a result of the completion of renovations of the conference center and grounds in fiscal year 2013. Transfer funding assists in offsetting losses or enhances earnings for our smaller enterprise operations.

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Major enterprise funds are shown on pages 32 to 41, and nonmajor enterprise funds appear in greater detail on pages 116 to 123 in this annual report.

Internal Service Funds: Internal service funds are designed to recover the internal costs of general services provided to the other fund groups. The increase in total net position balances for internal service funds this fiscal year was $5,427, a $2,231 increase from the $3,196 change in net position for fiscal year 2013, as all funds posted positive changes in fiscal year 2014, with the exception of Communications and Automated Systems. The decrease in the Communications Fund was due to fewer capital contributions during fiscal year 2014. Transfers from the Automated Systems fund to the General Fund and to the Building Capital Projects fund in the current year comprised the majority of its decrease in net position. Internal service funds appear on pages 124 to 129. Capital Assets The financial statements present capital assets in two groups: those assets subject to depreciation, such as equipment or operational facilities and those assets not subject to depreciation such as land, construction-in-progress and the County’s historical structures. Manatee County’s investment in capital assets for both governmental and business-type activities, net of accumulated depreciation, at September 30, 2014 totaled $1,879,981 while September 30, 2013 totaled $1,832,332. These capital assets, net of accumulated depreciation, both purchased and donated, includes: land, buildings and systems, improvements, machinery and equipment, software, parks, roads, bridges and major drainage structures. Net investment in capital assets increased as follows for fiscal years 2014 and 2013:

2014 2013 Increase Percent

Governmental funds $ 993,610 $ 971,279 $ 22,331 2.30%Proprietary funds $ 886,371 $ 861,053 $ 25,318 2.94%

Comparison of Increase in Capital Assets

2014 2013

Water and Sewer $ 12,572 $ 18,173 Port Authority (4,180) (3,263) Solid Waste 5,177 5,381 Transit System (11,224) (10,755) Stormwater (4,998) (4,764) Civic Center (739) (915)

Total $ (3,392) $ 3,857

Operating Income (Loss)

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Major capital asset events during the current and previous fiscal years include the following: • Assets donated to the general government consist of road and drainage infrastructure,

sidewalks, recreational facilities, parks and parklands. New subdivisions are required to meet County standards, and often must construct various assets as part of the approval process. Once completed, these assets are donated to and accepted by the County. Donated infrastructure in fiscal year 2014 amounted to $4,101 compared to $288 last year for general government. The majority of the total fiscal 2014 activity consisted of $3,949 of donated road and drainage infrastructure; in 2013, there were no similar donated assets within the governmental activities.

• Donated water, sewer and reclaimed infrastructure in fiscal year 2014 amounted to $5,189 and $2,116 in 2013. As new subdivisions are constructed, they are required to meet County standards when installing water and sewer services. Once completed, these assets are then donated to and accepted by the County.

• Land reported by the general governmental funds increased by $800 this fiscal year. This amount included donated land and buildings such as the Rubonia Community Center and the historic Old Parrish Schoolhouse.

• In fiscal year 2014, Water and Sewer made major structural repairs to the Lake Manatee Dam at a cost totaling $14,436; completed Phase 2 of the effluent storage tank project at the South West Water Restoration Facility for a cost of $1,788; finished process modifications at the South West Water Treatment Plant for a cost totaling $1,960; and completed a Booster and Master Lift Station for a cost of $739. In fiscal year 2013, Water and Sewer continued to replace water lines in different areas throughout Manatee County to meet DEP requirements, at a cost totaling $8,162; replaced water tanks, waterlines and piping at the South West and South East Water Treatment Plants at a cost of $4,072 and completed a booster station for a cost of $1,946.

• In fiscal year 2014, additions to governmental systems amounted to $389 and included the continued integration of the Mentis software program with the courts’ Clericus system to further support electronic case management files for the courts and judges. During fiscal year 2013, additions amounted to $395 of enhancements to the courts’ Clericus case management software and a new tax roll software system for the Property Appraiser.

• The County continues to address the needs of all departments and constitutional officers. As a component of this, the Sheriff’s equipment and vehicles are replaced on a rotating basis; $8,799 was added this fiscal year for a total investment of $51,979.

• During fiscal year 2014, Transit replaced 2 new buses and 3 Para buses at a cost of $483. Final improvements to the new downtown transit station were made at a cost of $312. Additionally, bus stops on Cortez Road were improved at a cost totaling $383, in order to be in compliance with the Americans with Disabilities Act. In fiscal year 2013, Transit replaced 9 buses for a total of $1,048. The $2,077 new downtown transit station was completed during 2013 as well. A video surveillance system and cameras were installed at additional transfer stations, and bus shelters were replaced throughout the county at a cost of $745.

• In fiscal year 2014, the Port Authority spent $1,236 on the completion of the Berth 14 extension and the South Channel Berth 14 dredging project. The Port also acquired 2 locomotives for $3,029. During fiscal 2013, the Port spent $567 on additional capabilities for its video surveillance system. The Port also acquired a new generator, 15 new radios, a boat lift, installed a dock for airboats, and equipment for $135.

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• In fiscal year 2014, Solid Waste completed the first phase of an electric generator project at the Lena Road Landfill. This $4,500 generator will convert landfill gases to electric power. During fiscal 2013, Solid Waste continued to expand its gas collection system for $3,843. It also purchased a new digital truck scale, a mower and enclosed the north end of the Landfill administration building for $84.

Additional information on Manatee County’s capital assets can be found in Note 8 on pages 60 and 61 of this report.

Debt Administration

At September 30, 2014, Manatee County had total bonded debt outstanding of $262,142, a decrease of $14,553 from the September 30, 2013 outstanding balance of $276,695. As per the following table, general obligation debt decreased by $2,515 during the past fiscal year and revenue bonds decreased by $12,038.

Increase2014 2013 (Decrease)

General Obligation Bonds $ 4,605 $ 7,120 $ (2,515) Revenue Bonds 257,537 269,575 (12,038) Revenue Notes 9,437 6,483 2,954 State Revolving Loan - 683 (683)

Florida Department of TransportationState Infrastructure Bank Loan 2,809 3,023 (214)

Logistec Equipment Loans - 3,223 (3,223) Total $ 274,388 $ 290,107 $ (15,719)

Outstanding Debt

During the current fiscal year, the County issued $7,275 of General Obligation Refunding

Bonds, Series 2014 to refund $7,120 of General Obligation Refunding Bonds, Series 2003, resulting in a loss of $97 and providing the County with an economic gain of $323; the loss is being amortized over the life of the refunded bonds. In addition, $6,482 of Revenue Improvement Bonds, Series 2014, were issued in order to finance the purchase of certain energy savings equipment. Final scheduled payments were made on the Transportation Revenue Refunding and Improvement Bonds Series, 2004 and the Revenue Improvement Bond, Series 2004.

The Port Authority executed a $1,000 revolving line of credit (“Revenue Note 2014A”) and as of September 30, 2014 had drawn $453 of this Revenue Note 2014A to finance a dredging project. The Port also issued the $3,000 Revenue Note, Series 2014B to refinance the existing two harbor crane loans. In addition, the Port received a $2,600 draw from Revenue Note 2011 to provide temporary funding of the purchase of two locomotives, later reimbursed by Transportation Investment Generating Economic Recovery and the Florida Department of Transportation Grants.

The County’s non ad valorem revenue bonds, the Public Utilities and the Port’s revenue bonds all have ratings of AA+ and Aa2 from Fitch’s, Inc. and Moody’s, respectively. The County’s General Obligation refunding bonds were issued as a private placement, so no rating was secured for this debt.

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The Constitution of the State of Florida, Florida Statute 200.181 and Manatee County set no legal debt limit. Additional information on Manatee County’s long-term debt can be found in Note 10 on pages 62 to 68 of this report.

Economic Factors and Year 2015 Budgets and Rates Factors considered in preparing Manatee County’s budget for the 2015 fiscal year included:

• The Consumer Price Index increased by 1.7% over the previous year’s rate. Although not specific to Manatee County, it does provide economic guidance for budgeting.

• The unemployment rate for Manatee County at September 2014 was 6.1%, an encouraging decrease from the 7.2% rate reported in the previous fiscal year.

• The number of construction permits issued (not rounded) in fiscal year 2014 was 21,964. This is 4,018 more than the previous year, a 22.39% increase. Continued growth in new housing starts and in commercial construction are the main components of this increase, reflecting improving market conditions.

• Population increased by 1.16% from the fiscal year ending September 30, 2013 to 337,546.

• Interest earnings rates increased slightly in fiscal year 2014, resulting in an average portfolio yield of 0.491%. As in prior years, interest earnings continue to be budgeted on a conservative basis for revenue purposes.

During fiscal year 2014, total fund balance in the General Fund decreased by $7,202. As previously discussed, this was primarily attributed to increases in expenditures in the areas of property management and public safety, and transfers to capital projects in the current year. The 2014 appropriations budget included contingency budgets for operations of $1,563. All funds carried over in the General Fund from fiscal year 2014 are planned for expenditures, with the exception of a $42,848 undesignated cash reserve. The County’s healthy fund balance and fiscal restraint combined to enable the County to keep the countywide tax millage rate the same for the 2015 fiscal year.

Requests for Information

This financial report is designed to provide a general overview of Manatee County Government’s finances for all those with an interest in our government. Questions concerning any of the information provided in this report or requests for additional financial information may be addressed to the Clerk of Circuit Court and Comptroller, Manatee County, P.O. Box 25400, Bradenton, Florida 34206-5400. I also suggest you visit our helpful website, www.manateeclerk.com, for further financial information.

-17-

Gumbo Limbo, Bursera simaruba

Photos: Cathy Slusser

The Gumbo Limbo is a fast-growing canopy tree reaching upwards of 50’ in height. Its native range is central to south Florida and the West Indies. The Gumbo Limbo’s trunk is a striking color, with coppery-bronze exfoliating bark. It is commonly called the tourist tree because of its red, peeling skin. Older trees can develop sculptural and dramatic forms. In days past, the soft, light-weight and easily carved wood was used for making carousel horses before the advent of molded plastics.

Basic

Finan

cia

l state

metn

s

Manatee County

Florida

BASIC FINANCIAL STATEMENTS

Statement of Net PositionSeptember 30, 2014

Governmental Business-typeTotal

Assets

Current assets: Cash and cash equivalents $ 385,952 $ 165,464 $ 551,416 Accounts receivable (net) 4,593 16,794 21,387 Interest receivable 530 143 673 Internal balances (15,854) 15,854 - Assessments receivable 120 50 170 Due from other governmental units 15,192 4,005 19,197 Prepaid items 4,625 896 5,521 Inventory 1,747 2,701 4,448 Deposits 2,611 835 3,446 Total current unrestricted assets 399,516 206,742 606,258

Current restricted assets: Cash and cash equivalents 17,077 22,557 39,634 Interest receivable 15 18 33 Total current restricted assets 17,092 22,575 39,667 Total current unrestricted and restricted assets 416,608 229,317 645,925

Noncurrent assets: Restricted cash and cash equivalents - 35,010 35,010 Assessments receivable 304 233 537 Unamortized bond insurance - 35 35 Land and other nondepreciable assets 254,843 193,662 448,505 Capital assets, net of depreciation 738,767 692,709 1,431,476 Total noncurrent assets 993,914 921,649 1,915,563 Total assets 1,410,522 1,150,966 2,561,488

Deferred outflows of resources: Deferred charge on refunding 5,386 1,058 6,444

The notes to the financial statements are an integral part of these statements.

Manatee County, Florida

ActivitiesActivities

(Amounts expressed in thousands)

-18-

TotalLiabilities

Current liabilities: Accounts payable 10,975 4,557 15,532 Wages and benefits payable 8,494 2,073 10,567 Due to other governmental units 2,796 1 2,797 Contracts and retainages payable 3,394 4,828 8,222 Performance bonds payable 159 - 159 Claims payable 12,928 - 12,928 Compensated absences 970 233 1,203 Unearned revenue 2,111 50 2,161 Deposits 301 747 1,048 Bonds, notes and loans payable 4,589 258 4,847 Total current liabilities 46,717 12,747 59,464

Current liabilities (payable from restricted assets): Accounts payable 406 153 559 Contracts and retainages payable 1,321 1,709 3,030 Deposits - 7,239 7,239 Total current liabilities (payable from restricted assets) 1,727 9,101 10,828 Total current liabilities and current liabilities (payable from restricted assets) 48,444 21,848 70,292

Noncurrent liabilities: Arbitrage rebate 40 - 40 Compensated absences 24,666 4,450 29,116 Other post-employment benefits 66,134 12,125 78,259 Closure liability - 27,806 27,806 Bonds, notes and loans payable (net) 114,515 167,954 282,469 Total noncurrent liabilities 205,355 212,335 417,690 Total liabilities 253,799 234,183 487,982

Net Position

Net investment in capital assets 894,627 739,886 1,634,513 Restricted for debt service - 3,155 3,155 Restricted for construction projects 5,306 - 5,306 Restricted for landfill closure - 7,204 7,204 Unrestricted 262,176 167,596 429,772 Total net position $ 1,162,109 $ 917,841 $ 2,079,950

Business-typeActivities

GovernmentalActivities

-19-

Statement of ActivitiesFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

Program

Charges forFunctions/Programs Expenses ServicesGovernmental activities: General government $ 80,600 $ 34,912 $ 1,301 Public safety 146,534 22,455 6,333 Physical environment 8,444 130 362 Transportation 36,872 12,304 1,915 Economic environment 13,965 299 2,730 Human services 32,469 135 5,439 Culture and recreation 17,538 5,275 333 Interest on long-term debt 4,677 - - Total governmental activities 341,099 75,510 18,413 Business-type activities: Water and sewer 98,723 108,967 85 Port Authority 15,452 9,457 1,608 Solid waste 33,048 38,438 - Transit 12,392 1,284 4,076 Stormwater 4,917 66 - Civic center 2,297 1,532 - Total business-type activities 166,829 159,744 5,769 Total government $ 507,928 $ 235,254 $ 24,182

General revenues:Property taxesGasoline taxesSales taxTourism taxesCommunication services taxesPhosphate severance taxVessel taxState revenue sharingInterest incomeMiscellaneous

TransfersTotal general revenues and transfers

Change in net positionNet position, October 1Net position, September 30

The notes to the financial statements are an integral part of these statements.

OperatingGrants and

Contributions

Manatee County, Florida

-20-

Revenues Net (Expense) Revenue and Changes in Net PositionCapital

Grants and Governmental Business-typeContributions Activities Activities Total

$ 84 $ (44,303) $ (44,303) 660 (117,086) (117,086)

4,025 (3,927) (3,927) 5,811 (16,842) (16,842)

9 (10,927) (10,927) - (26,895) (26,895) 412 (11,518) (11,518) - (4,677) (4,677)

11,001 (236,175) (236,175)

18,266 $ 28,595 28,595 4,550 163 163

- 5,390 5,390 2,282 (4,750) (4,750)

27 (4,824) (4,824) - (765) (765)

25,125 23,809 23,809 $ 36,126 (236,175) 23,809 (212,366)

160,543 - 160,543 21,777 - 21,777 23,671 - 23,671 10,441 - 10,441 5,434 - 5,434

424 - 424 366 - 366

7,797 - 7,797 1,504 19 1,523

16,852 143 16,995 (3,354) 3,354 -

245,455 3,516 248,971

9,280 27,325 36,605 1,152,829 890,516 2,043,345

$ 1,162,109 $ 917,841 $ 2,079,950

Primary Government

-21-

Impact FeesGeneral Capital Projects

Fund FundAssets

Cash and cash equivalents $ 81,048 $ 38,380 $ 65,801 Accounts receivable (net) 4,246 8 - Interest receivable 304 26 41 Due from other funds 833 - - Assessments receivable - - - Due from other governmental units 4,218 2,084 - Advance to other funds 14,079 - - Prepaid items 1,876 72 - Inventory 246 261 - Deposits - 25 503 Total assets $ 106,850 $ 40,856 $ 66,345

Liabilities and Fund Balances

Liabilities: Accounts payable $ 4,868 $ 874 $ 216 Wages and benefits payable 6,633 475 - Due to other funds 400 - - Due to other governmental units 649 308 - Contracts and retainages payable 86 - 1,321 Performance bonds payable 29 120 - Unearned revenue 125 - - Deposits 290 11 - Advance from other funds 1,300 - - Total liabilities 14,380 1,788 1,537

Deferred inflows of resources: Unavailable revenue - - -

Fund balances: Non-spendable 16,201 358 503 Restricted 70 14,086 64,305 Committed 1,623 - - Assigned 4,766 24,624 - Unassigned 69,810 - - Total fund balances 92,470 39,068 64,808 Total liabilities, deferred inflows of resources and fund balances $ 106,850 $ 40,856 $ 66,345

The notes to the financial statements are an integral part of these statements.

HighwaySpecial Revenue

Fund

Manatee County, FloridaBalance Sheet

Governmental FundsSeptember 30, 2014

(Amounts expressed in thousands)

-22-

TotalGovernmental

Funds

$ 159,704 $ 344,933 80 4,334

137 508 400 1,233 424 424

7,409 13,711 - 14,079 36 1,984 - 507

1,989 2,517 $ 170,179 $ 384,230

$ 4,716 $ 10,674 1,166 8,274

833 1,233 845 1,802

3,308 4,715 10 159

1,719 1,844 - 301

19,234 20,534 31,831 49,536

497 497

2,025 19,087107,459 185,920 14,325 15,948 14,042 43,432

- 69,810 137,851 334,197

$ 170,179 $ 384,230

Funds

OtherGovernmental

-23-

Manatee County

Florida

Differences in amounts reported for governmental activitiesin the Statement of Net Position on pages 18-19:

Fund balances - total governmental funds $ 334,197

Capital assets used in governmental activities are not financialresources and are therefore not reported in the governmental funds. 973,017

Assessment receivables are not available to pay current periodexpenditures and therefore are unearned revenue in the funds. 424

Certain liabilities will not require current financial resources andtherefore are not reported as expenditures in the governmentalfunds. (994)

Certain liabilities are not due and payable in the current periodand therefore are not reported in the funds. Bonds and notes payable $ (108,216) Less: deferred charges on refunding (to be amortized as interest expense) 5,386 Including: issuance premium (to be amortized as a decrease in interest expense) (10,888)

Accrued other post-employment benefits (66,134) Accrued compensated absences (25,112) Arbitrage rebate payable (40) Net adjustment to reduce fund balance - total governmental funds to arrive at net position - governmental activities (205,004)

The assets and liabilities of Internal Service Funds (fund used tocharge the costs of certain activities to individual funds) are includedin the governmental activities in the Statement of Net Position. 60,469

Total net position $ 1,162,109

The notes to the financial statements are an integral part of these statements.

Manatee County, FloridaReconciliation of the Balance Sheet of Governmental Funds

to the Statement of Net PositionSeptember 30, 2014

(Amounts expressed in thousands)

-24-

HighwayGeneral Special Revenue

Fund FundRevenues: Taxes $ 131,223 $ 23,290 $ - Licenses and permits 484 - - Intergovernmental 46,554 4,630 - Charges for services 33,796 1,014 - Fines and forfeitures 713 - - Interest income 371 137 231 Assessments - - - Contributions 973 449 - Miscellaneous 4,090 381 66 Total revenues 218,204 29,901 297

Expenditures: Current: General government 63,787 - - Public safety 131,397 - - Physical environment 2,440 - - Transportation - 21,349 - Economic environment 4,071 - - Human services 11,875 - - Culture and recreation 8,152 - - Intergovernmental 582 3,444 - Debt service - - - Capital projects - - 10,445 Total expenditures 222,304 24,793 10,445 Excess (deficiency) of revenues over expenditures (4,100) 5,108 (10,148)

Other financing sources (uses): Transfers from other funds 9,446 2,588 9,903 Transfers to other funds (12,548) (9,114) (103) Bond proceeds - - - Refunding bonds issued - - - Total other financing sources (uses) (3,102) (6,526) 9,800

Net change in fund balances (7,202) (1,418) (348) Fund balances, October 1 99,672 40,486 65,156 Fund balances, September 30 $ 92,470 $ 39,068 $ 64,808

The notes to the financial statements are an integral part of these statements.

Capital ProjectsImpact Fees

Fund

Manatee County, FloridaStatement of Revenues, Expenditures and Changes in Fund Balances

Governmental FundsFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

-25-

Governmental

$ 39,077 $ 193,590 27,385 27,869 19,894 71,078 3,863 38,673 8,046 8,759

560 1,299 173 173 234 1,656 890 5,427

100,122 348,524

10,412 74,199 11,580 142,977 2,318 4,758 2,578 23,927

10,400 14,471 18,213 30,088 6,679 14,831

- 4,026 25,778 25,778 28,596 39,041

116,554 374,096

(16,432) (25,572)

29,947 51,884 (32,881) (54,646)

6,482 6,482 7,275 7,275

10,823 10,995

(5,609) (14,577) 143,460 348,774

$ 137,851 $ 334,197

Funds

Total

FundsGovernmental

Other

-26-

Differences in amounts reported for governmental activitiesin the Statement of Activities on pages 20-21:

Net change in fund balances - total governmental funds $ (14,577)

Capital outlay, reported as expenditures in governmental funds, are shown as capital assets in the Statement of Net Position. 50,904

Donations of capital assets are not financial resources to governmentalfunds, however, increase net position in the Statement of Net Position. 4,101

Depreciation expense on governmental capital assets included in the governmental activities in the Statement of Activities. (32,311)

In the Statement of Activities, only the loss on the sale of capital assets is reported. However, in the governmental funds, the proceeds from the sale increase financialresources. Thus, the change in net position differs from the change in fund balance by thecarrying value of the capital assets sold. (3,467)

Bond proceeds provide current financial resources to the governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of the government funds. Neither transaction, however, has any effect on the net position. Also, governmental funds report the effect of issuance costs, premiums and similar items when debt is first issued, and are amortized in the Statement of Activities.

Debt issued or incurred: Issuance of general obligation refunding bonds $ (7,275) Issuance of revenue improvement bonds (6,482) Less: deferred charge on refunding 97

Principal repayments: Bond principal payments 20,395 Net adjustment to increase net changes in fund balances - total governmental funds 6,735

The amortization of bond premium, issuance and similar items do not require the use of financial resources of the governmental funds and therefore are not reported as expenditures in govenmental funds: Amortization of deferred charge on refunding (1,188) Amortization of bond insurance costs (4) Amortization of bond premium 1,801 Net adjustment to increase net changes in fund balances - total governmental funds to arrive at changes in net position of governmental activities 609

The notes to the financial statements are an integral part of these statements.

(Amounts expressed in thousands)

Manatee County, FloridaReconciliation of the Statement of Revenues, Expenditures and

Changes in Fund Balances of Governmental Fundsto the Statement of Activities

For the Fiscal Year Ended September 30, 2014

-27-

The (increase) decrease in certain accrued liabilities reported in theStatement of Activities does not require the use of current financial resources and therefore is not reported as expenditures in the governmental funds: Accrued contingent liabilities 750 Accrued liability for amounts due to the State of Florida 362 Accrued other post-employment benefits (6,715) Accrued compensated absences (969)

Assessment revenues will not be collected for several months after the fiscalyear and are deferred in the governmental funds. (173)

The net revenues of internal service funds (funds used to charge the costs certain activities to individual funds) are reported with governmental activities. 4,031

Change in net position $ 9,280

-28-

Revenues: Taxes $ 128,519 $ 128,519 $ 131,223 $ 2,704 Licenses and permits 432 482 484 2 Intergovernmental 32,299 38,447 46,554 8,107 Charges for services 28,113 28,154 33,796 5,642 Fines and forfeitures 532 532 713 181 Interest income 285 285 371 86 Contributions 864 945 973 28 Miscellaneous 4,509 4,540 4,090 (450) Total revenues 195,553 201,904 218,204 16,300

Expenditures: Current: General government Clerk of Circuit Court 13,572 14,971 12,673 2,298 Community services 136 136 136 - County administration 2,185 2,652 2,499 153 County Attorney 2,080 2,281 2,236 45 Court administration 1,422 1,451 1,404 47 Property management 11,879 14,146 12,351 1,795 Financial management 1,758 1,816 1,816 - General government 1,936 1,965 1,628 337 Guardian Ad Litem 64 64 55 9 Human resources 958 1,083 1,038 45 Information technology 7,359 9,607 7,741 1,866 Property Appraiser 4,271 4,605 4,521 84 Public Defender 138 138 131 7 Sheriff 4,482 4,482 4,438 44 State Attorney 556 607 587 20 Supervisor of Elections 4,988 5,023 1,834 3,189 Tax Collector 8,975 8,975 8,699 276 Total general government 66,759 74,002 63,787 10,215

Public safety Community services 4,392 4,324 3,971 353 Ordinance codification - 7 4 3 Public safety 17,950 18,129 17,159 970 Sheriff 107,671 116,729 110,263 6,466 Total public safety 130,013 139,189 131,397 7,792

(Continued)The notes to the financial statements are an integral part of these statements.

(Amounts expressed in thousands)

Manatee County, FloridaGeneral Fund

Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Actual Final Budget Original Budget

Variance with Final Budget

Positive (Negative)

-29-

Physical environment Community services 839 807 746 61 Parks & natural resources 1,276 1,891 1,694 197 Total physical environment 2,115 2,698 2,440 258

Economic environment Community services 273 282 254 28 Financial management 3,422 3,422 3,267 155 Neighborhood services 928 963 550 413 Total economic environment 4,623 4,667 4,071 596

Human services Community services 9,922 11,076 10,165 911 Public safety 1,549 1,766 1,710 56 Total human services 11,471 12,842 11,875 967

Culture & recreation Community services 31 31 27 4 Parks & natural resources 3,545 3,354 2,709 645 Property management 6,140 5,518 5,416 102 Total culture & recreation 9,716 8,903 8,152 751

Intergovernmental 341 341 582 (241)

Total expenditures 225,038 242,642 222,304 20,338

Excess (deficiency) of revenues over expenditures (29,485) (40,738) (4,100) 36,638

Other financing sources (uses): Reserved for contingencies (5,398) (1,563) - 1,563 Transfers from other funds 13,492 9,664 9,446 (218) Transfers to other funds (10,365) (12,644) (12,548) 96 Total other financing sources (uses) (2,271) (4,543) (3,102) 1,441

Net change in fund balances (31,756) (45,281) (7,202) 38,079 Fund balances, October 1 99,672 99,672 99,672 - Fund balances, September 30 $ 67,916 $ 54,391 $ 92,470 $ 38,079

Actual

Variance with Final Budget

Positive (Negative)

(Amounts expressed in thousands)

Manatee County, FloridaGeneral Fund - Continued

Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original Budget Final Budget

-30-

Manatee County

Florida

Original FinalBudget Budget Actual

Revenues: Taxes $ 22,374 $ 22,582 $ 23,290 $ 708 Intergovernmental 4,238 4,437 4,630 193 Charges for services 770 770 1,014 244 Interest income 131 131 137 6 Contributions 48 48 449 401 Miscellaneous 1,438 1,438 381 (1,057) Total revenues 28,999 29,406 29,901 495

Expenditures: Current: Transportation 26,830 28,752 21,349 7,403 Intergovernmental 3,468 3,518 3,444 74 Total expenditures 30,298 32,270 24,793 7,477

Excess (deficiency) of revenues over expenditures (1,299) (2,864) 5,108 7,972

Other financing sources (uses): Reserved for contingencies (775) (380) - 380 Transfers from other funds 2,588 2,588 2,588 - Transfers to other funds (8,618) (9,235) (9,114) 121 Total other financing sources (uses) (6,805) (7,027) (6,526) 501

Net change in fund balances (8,104) (9,891) (1,418) 8,473 Fund balances, October 1 40,486 40,486 40,486 - Fund balances, September 30 $ 32,382 $ 30,595 $ 39,068 $ 8,473

The notes to the financial statements are an integral part of these statements.

(Negative)

Manatee County, FloridaHighway Special Revenue Fund

Statement of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014(Amounts expressed in thousands)

Variance withFinal Budget

Positive

-31-

Water PortAssets and Sewer Authority

Current unrestricted assets: Cash and cash equivalents $ 132,453 $ 1,694 Accounts receivable (net) 11,511 1,119 Interest receivable 100 2 Assessments receivable 50 - Due from other governmental units 35 633 Prepaid items 179 185 Inventory 2,671 - Deposits 196 453 Total current unrestricted assets 147,195 4,086

Current restricted assets: Cash and cash equivalents 18,864 2,248 Interest receivable 16 2 Total current restricted assets 18,880 2,250 Total current unrestricted and restricted assets 166,075 6,336

Noncurrent assets: Restricted cash and cash equivalents - - Advance to other funds - - Assessments receivable 233 - Unamortized bond insurance 32 - Land and other nondepreciable assets 112,127 49,304 Capital assets, net of accumulated depreciation 554,849 88,461 Total noncurrent assets 667,241 137,765 Total assets 833,316 144,101

Deferred outflows of resources: Deferred charge on refunding 850 208

The notes to the financial statements are an integral part of these statements.

Statement of Net PositionManatee County, Florida

(Amounts expressed in thousands)September 30, 2014Proprietary Funds

EnterpriseBusiness-type

-32-

ActivitiesFunds

Solid OtherWaste Funds Total

$ 26,064 $ 5,253 $ 165,464 $ 58,096 4,151 13 16,794 259

38 3 143 37 - - 50 - - 3,337 4,005 1,481 494 38 896 2,641 - 30 2,701 1,240 - 186 835 94

30,747 8,860 190,888 63,848

1,445 - 22,557 - - - 18 -

1,445 - 22,575 - 32,192 8,860 213,463 63,848

35,010 - 35,010 - 1,300 - 1,300 5,330

- - 233 - 3 - 35 -

5,664 26,567 193,662 4,625 26,873 22,526 692,709 15,968 68,850 49,093 922,949 25,923

101,042 57,953 1,136,412 89,771

- - 1,058 -

(Continued)

Internal ServiceFunds

Activities -Governmental

-33-

Water PortLiabilities and Sewer Authority

Current liabilities: Accounts payable $ 2,047 $ 410 Wages and benefits payable 1,231 216 Due to other governmental units 1 - Contracts and retainages payable 4,058 547 Claims payable - - Compensated absences 130 39 Unearned revenue - 50 Deposits 125 - Notes payable - 258 Total current liabilities 7,592 1,520

Current liabilities (payable from restricted assets): Accounts payable 153 - Contracts and retainages payable 1,709 - Customer deposits 5,794 - Total current liabilities (payable from restricted assets) 7,656 - Total current liabilities and current liabilities (payable from restricted assets) 15,248 1,520

Noncurrent liabilities: Advance from other funds - - Compensated absences 2,770 566 Other post-employment benefits 7,259 1,366 Closure liability - - Bonds, notes and loans payable (net) 121,016 44,196 Total noncurrent liabilities 131,045 46,128 Total liabilities 146,293 47,648

Net Position

Net investment in capital assets 565,231 95,767 Restricted for debt service 905 2,250Restricted for landfill closure - - Unrestricted 121,737 (1,356) Total net position $ 687,873 $ 96,661

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds Net position of business-type activities

The notes to the financial statements are an integral part of these statements.

Business-typeEnterprise

Manatee County, FloridaStatement of Net Position

Proprietary Funds - ContinuedSeptember 30, 2014

(Amounts expressed in thousands)

-34-

ActivitiesFunds Governmental

Activities -Solid Other Internal ServiceWaste Funds Total Funds

$ 1,983 $ 117 $ 4,557 $ 707 156 470 2,073 220 - - 1 - - 223 4,828 - - - - 12,928 13 51 233 11 - - 50 194 148 474 747 - - - 258 -

2,300 1,335 12,747 14,060

- - 153 - - - 1,709 -

1,445 - 7,239 - 1,445 - 9,101 -

3,745 1,335 21,848 14,060

- 175 175 - 323 791 4,450 513 715 2,785 12,125 -

27,806 - 27,806 - 2,742 - 167,954 -

31,586 3,751 212,510 513 35,331 5,086 234,358 14,573

29,795 49,093 739,886 25,923 - - 3,155 -

7,204 - 7,204 - 28,712 3,774 152,867 49,275

$ 65,711 $ 52,867 903,112 $ 75,198

14,729 $ 917,841

-35-

Water Portand Sewer Authority

Operating revenues: Charges for services $ 105,316 $ 8,998 Miscellaneous 1,261 429 Total operating revenues 106,577 9,427 Operating expenses: Personal services 22,965 4,226 Operating expenses 47,108 4,181 Depreciation and amortization 23,932 5,200 Total operating expenses 94,005 13,607

Operating income (loss) 12,572 (4,180)

Nonoperating revenues (expenses): Operating grants and contributions 85 1,608 Interest income 579 30 Interest expense (5,502) (1,798) Bond interest rebate 1,752 - Bond issue cost - (34) Gain (loss) on disposition of assets 59 (37) Grant administration fee - (42) Total nonoperating revenues (expenses) (3,027) (273)

Income (loss) before contributions and transfers 9,545 (4,453)

Capital grants and contributions 18,266 4,550 Transfers in - 447 Transfers out (2,955) - Change in net position 24,856 544

Total net position - October 1 663,017 96,117 Total net position - September 30 $ 687,873 $ 96,661

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds Change in net position of business-type activities

The notes to the financial statements are an integral part of these statements.

Business-type

Manatee County, FloridaStatement of Revenues, Expenses and Changes in Fund Net Position

Proprietary FundsFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

Enterprise

-36-

ActivitiesFunds

Solid OtherWaste Funds Total

$ 38,136 $ 2,868 $ 155,318 $ 66,824 89 143 1,922 1,516

38,225 3,011 157,240 68,340

2,864 8,985 39,040 5,977 28,081 8,191 87,561 53,337 2,103 2,796 34,031 3,421

33,048 19,972 160,632 62,735

5,177 (16,961) (3,392) 5,605

- 4,076 5,769 - 208 19 836 207 (133) - (7,433) - - - 1,752 - - - (34) -

5 (33) (6) 123 - - (42) - 80 4,062 842 330

5,257 (12,899) (2,550) 5,935

- 2,309 25,125 84 - 10,130 10,577 130

(4,268) - (7,223) (722) 989 (460) 25,929 5,427

64,722 53,327 69,771 $ 65,711 $ 52,867 $ 75,198

1,396 $ 27,325

Activities -Internal Service

Funds

Governmental

-37-

Water Portand Sewer Authority

Cash flows from operating activities: Cash received from customers $ 105,899 $ 9,780 Cash received from other funds for goods and services - - Cash payments to vendors for goods and services (25,899) (4,239) Cash payments to employees for services (18,470) (3,537) Cash payments to other funds (24,736) (690) Net cash provided (used) by operating activities 36,794 1,314

Cash flows from noncapital financing activities: Operating grants 81 1,570 Transfers in - 447 Transfers out (2,945) - Increase in advance to other funds - - Decrease in advance to other funds - - Increase in advance from other funds - - Net cash provided (used) by noncapital financing activities (2,864) 2,017

Cash flows from capital and related financing activities: Acquisition and construction of capital assets (40,513) (6,940) Deposits paid on construction agreements - (453) Principal payments on debt (7,411) (7,386) Interest payments on debt (7,277) (1,701) Bond interest rebate 1,752 - Debt proceeds - 6,053 Debt issuing expenses - (34) Grant administration fee - (42) Receipt of contributed capital 14,131 6,052 Proceeds from sale of assets 72 - Net cash provided (used) by capital and related financing activities (39,246) (4,451)

Cash flows from investing activities: Interest on investments 566 30

Net increase (decrease) in cash and cash equivalents (4,750) (1,090) Cash and cash equivalents, October 1 156,067 5,032 Cash and cash equivalents, September 30 $ 151,317 $ 3,942

Classified as: Current assets $ 132,453 $ 1,694 Restricted assets 18,864 2,248 Cash and cash equivalents, September 30 $ 151,317 $ 3,942

The notes to the financial statements are an integral part of these statements.

Business-typeEnterprise

Manatee County, FloridaStatement of Cash Flows

Proprietary FundsFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

-38-

GovernmentalActivities -

Solid Other Internal Servicey Waste Funds Total Funds

$ 38,354 $ 3,114 $ 157,147 $ 6,055 - - - 61,937

(25,204) (2,679) (58,021) (54,379) (2,349) (7,258) (31,614) (5,387) (2,271) (6,959) (34,656) (1,071) 8,530 (13,782) 32,856 7,155

- 4,291 5,942 - - 10,130 10,577 120

(4,268) - (7,213) (722) - - - (6,100) - - - 770 - 28 28 -

(4,268) 14,449 9,334 (5,932)

(4,615) (2,919) (54,987) (6,519) - - (453) -

(322) - (15,119) - (142) - (9,120) - - - 1,752 - - - 6,053 - - - (34) - - - (42) - - 1,429 21,612 -

8 69 149 212

(5,071) (1,421) (50,189) (6,307)

200 19 815 202

(609) (735) (7,184) (4,882) 63,128 5,988 230,215 62,978

$ 62,519 $ 5,253 $ 223,031 $ 58,096

$ 26,064 $ 5,253 $ 165,464 $ 58,096 36,455 - 57,567 -

$ 62,519 $ 5,253 $ 223,031 $ 58,096

(Continued)

ActivitiesFunds

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Water Portand Sewer Authority

Reconciliation of operating income (loss) to net cash provided (used) by operating activities:Operating income (loss) $ 12,572 $ (4,180) Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities: Depreciation 23,923 5,200 Amortization 9 - Provision for uncollectibles 566 - Changes in assets and liabilities: (Increase) decrease in: Accounts receivable (1,482) 342 Due from other governmental units - - Prepaid items 222 (108) Inventory (160) - Deposits - - Increase (decrease) in: Accounts payable (211) (110) Wages and benefits payable 210 16 Claims payable - - Unearned revenue - 11 Compensated absences 187 2 Other post-employment benefits 720 141 Closure liability - - Customer deposits 238 - Total adjustments 24,222 5,494 Net cash provided (used) by operating activities $ 36,794 $ 1,314

Non-cash investing, capital, and financing activities:

Loss on disposition of assets $ - $ 37 Acquisition of contributed assets 5,194 - Assets transferred to (from) other funds 10 -

The notes to the financial statements are an integral part of these statements.

Statement of Cash FlowsManatee County, Florida

Business-typeEnterprise

Proprietary Funds - ContinuedFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

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GovernmentalActivities -

Solid Other Internal ServiceWaste Funds Total Funds

$ 5,177 $ (16,961) $ (3,392) $ 5,605

2,102 2,796 34,021 3,421 1 - 10 -

58 - 624 -

(135) 7 (1,268) 82 - 52 52 (377)

(336) (16) (238) (17) - (18) (178) 67 - - - (75)

112 (45) (254) (202) 29 73 328 33 - - - (1,406) - - 11 4 23 75 287 20 51 211 1,123 -

1,242 - 1,242 - 206 44 488 -

3,353 3,179 36,248 1,550 $ 8,530 $ (13,782) $ 32,856 $ 7,155

$ - $ 47 $ 84 $ 27 - - 5,194 84 - - 10 (10)

Activities

Funds

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InvestmentTrust Agency

Assets Fund Funds

Cash and cash equivalents $ 24,627 $ 19,726 Interest receivable 18 - Total assets 24,645 19,726

Liabilities

Due to individuals - 13,574 Due to other governmental units - 6,152 Total liabilities - $ 19,726

Net Position

Held in trust for investment members and other purposes $ 24,645

The notes to the financial statements are an integral part of these statements.

Manatee County, FloridaStatement of Fiduciary Net Position

Fiduciary FundsSeptember 30, 2014

(Amounts expressed in thousands)

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InvestmentTrustFund

Additions Trust members contributions $ 33,937 Interest income 102 Total additions 34,039

Deductions Refunds of trust members contributions (34,299)

Change in net position (260) Net position - beginning 24,905 Net position - ending $ 24,645

The notes to the financial statements are an integral part of these statements.

Manatee County, FloridaStatement of Changes in Fiduciary Net Position

Fiduciary FundsFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies A. Reporting Entity

Manatee County is a non-charter county established under the Constitution and the laws of the State of Florida. The County is governed by a seven-member Board of County Commissioners, one from each of five districts and two elected countywide. There are five constitutional officers elected countywide, which are: Clerk of Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector.

The Board of County Commissioners is the legislative body for Manatee County and, as such, budgets and provides all the funding used by the separate Constitutional Offices with the exception of fees collected by the Clerk of Circuit Court and the Tax Collector. Under the direction of the Clerk of Circuit Court, the Manatee County Finance Department maintains the accounting system for the County's operations, including those of the Supervisor of Elections, which are included in the General Fund, but excluding those of the Clerk of Circuit Court, Property Appraiser, Sheriff and Tax Collector, each of which maintains its own accounting system. The operations of the County as a whole, however, including all the Constitutional Offices, have been combined in these financial statements.

Services provided by the County and accounted for within these financial statements include police services for unincorporated areas of the County, health and social services, emergency medical services, water and sewage services, mass transportation services, cultural and recreational programs, solid waste services and other governmental services. Also included is the County Law Library established by Ch. 61.2455, Laws of Florida.

The accompanying financial statements present the County and its component units. The County’s component units, although legally separate entities, are in substance part of the County’s operations and have the same governing boards. As a result, the County is considered to be financially accountable. The Port Authority (authorized by Ch. 315, Florida Statutes and Ch. 67.1681, Laws of Florida) and the Civic Center Authority (established by Ch. 78.556, Laws of Florida) are both legally separate entities, but since the County Commission also serves as their governing boards and there is a specific benefit or burden relationship between the County and these component units, they are reported as blended component units (enterprise funds). The County Commission also serves as the governing board for the Manatee County Community Redevelopment Agency (authorized by Ch. 163, Florida Statutes and Manatee County Ordinances 02-66, 02-67 and 02-68) a dependent special district. There is also a specific benefit or burden relationship between the County and this component unit and therefore it is reported as blended within the primary government (special revenue and capital project funds). On August 12, 2014, the Board of County Commissioners adopted Ordinance 14-38 which amended the Manatee County Code of Laws and provided for the abolishment of the Civic Center Authority and its sunset on September 30, 2014, to be replaced by the Manatee County Civic Center. During fiscal year 2014, the Board of County Commissioners approved replacement of its two Community Redevelopment Areas with the Southwest County Improvement District. The effective sunset date of the Community Redevelopment Area entities is September 30, 2014, and the district will be effective on October 1, 2014. This new district covers an expanded portion of the County and provides additional funding for improvements in the targeted areas. The financial statement presentation of the Community Redevelopment fund in the “other governmental funds” will continue to encompass all of these entities. No separately issued statements are prepared by the Civic Center Authority or the Manatee County Community Redevelopment Agency. Financial statements for the Port Authority may be obtained from the Manatee County Clerk of the Circuit Court and Comptroller, P.O. Box 25400, Bradenton, Florida 34206-5400 or online at www.manateeclerk.com.

B. Government-Wide and Fund Financial Statements

The basic financial statements consist of the government-wide financial statements and fund financial statements. Both sets of statements distinguish between the governmental and business-type activities of the County.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies – Continued B. Government-Wide and Fund Financial Statements – Continued Government-wide financial statements include a Statement of Net Position and a Statement of Activities. These statements report on the government as a whole, both the primary government and its component units, and provide a consolidated financial picture of the government. As part of the consolidation process, interfund activities, with the exception of interfund services provided and used, are eliminated to avoid distorted financial results. The amounts reported as internal balances represent the residual amounts due between governmental and business-type activities. Fiduciary funds of the government are also eliminated from this presentation since these resources are not available for general government funding purposes. The Statement of Net Position reports all financial and capital resources of Manatee County’s governmental and business-type activities. It is presented in a net position format (assets plus deferred outflows of resources less liabilities plus deferred inflows of resources equal net position) and shown with three components: net investment in capital assets, restricted net position and unrestricted net position. The Statement of Activities reports functional categories of programs provided by the County, and demonstrates how and to what degree those programs are supported by specific revenue.

Program revenues are classified into three categories: charges for services, operating grants and contributions and capital grants and contributions. Charges for services refer to direct recovery from customers for services rendered. Grants and contributions refer to revenues restricted for specific programs whose use may be restricted further to operational or capital items. The general revenues section displays revenue collected that helps support all functions of our government and contributes to the change in the net position for the fiscal year.

The fund financial statements follow and report additional and detailed information about Manatee County’s operations for major funds individually and nonmajor funds in the aggregate for governmental, proprietary and fiduciary funds. A reconciliation is provided that converts the results of governmental fund accounting to the government-wide presentations. The preparation of financial statements in conformity with generally accepted accounting principles, as applicable to governmental units, requires management to make use of estimates that affect the reported amounts in the financial statements. Actual results could differ from estimates.

C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government-wide financial statements, as well as the fund financial statements for the proprietary funds and the investment trust fund, are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recognized in the period in which they are earned and expenses are recognized in the period incurred. Operating revenues shown for proprietary operations generally result from producing or providing goods and services such as water, sewer and garbage services. Operating expenses for these operations include all costs related to providing the service or product. These costs include salaries, supplies, travel, contract services, depreciation, administrative expenses or other expense directly related to costs of services. All other revenues and expenses not meeting these definitions are reported as non-operating revenues and expenses. All governmental fund financial statements are reported using a current financial resources measurement focus on a modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period, which is considered to be sixty days. Expenditures are recorded when the related fund liability is incurred. Exceptions to this general rule include: (1) accumulated sick and vacation pay and other post-employment benefits, which are not recorded as expenditures; (2) inventory recorded using the consumption method, prepaid insurance and similar items are reported only on the balance sheet and do not affect expenditures; and (3) principal and interest on long-term debt, which are recognized when due. Budgets for governmental funds are also prepared on the modified accrual basis.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies - Continued C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation – Continued In applying the susceptibility-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended for the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion.

Licenses and permits, charges for services, and miscellaneous revenues (except investment earnings) are recorded as revenues when received in cash, because they are generally not measurable until actually received. Investment earnings and most fines and forfeitures are recorded as earned since they are measurable and available.

The County chooses to allocate the indirect costs to functional activities through various automatic allocation charge methods. Therefore, expenses reported for functional activities include these allocated indirect costs. The accounting policies and the presentation of the financial report of Manatee County, Florida have been designed to conform to generally accepted accounting principles (GAAP) as applicable to governmental units, in accordance with the Governmental Accounting Standards Board (GASB). Governmental funds report fund balances either as non-spendable or spendable. Spendable balances are further classified as restricted, committed, assigned or unassigned, based on the extent to which there are external or internal constraints on the spending of these fund balances. Non-spendable Fund Balance – Amounts that are (a) not in spendable form or (b) legally or contractually required to be maintained intact. “Not in spendable form” includes items that are not expected to be converted to cash (such as inventories and prepaid amounts) and generally items such as long-term amounts of loans and notes receivable, as well as property acquired for resale. The corpus (or principal) of a permanent fund is an example of an amount that is legally or contractually required to be maintained intact. Spendable Fund Balance:

• Restricted Fund Balance - Amounts that can be spent only for specific purposes stipulated by (a) external resource providers such as creditors (by debt covenants), grantors, contributors, or laws or regulations of other governments; or (b) imposed by law through constitutional provisions or enabling legislation.

• Committed Fund Balance - Amounts that can be used only for the specific purposes determined by the highest formal action (ordinance) of the Board of County Commissioners, the County’s highest level of decision making authority. Commitments may be changed or lifted only by the Board of County Commissioners taking the same formal action that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements are reported in this category only if they are specific and non-recurring.

• Assigned Fund Balance – Includes spendable fund balance amounts established by the Board of County Commissioners (resolution) that are intended to be used for specific purposes and are neither considered restricted or committed.

• Unassigned Fund Balance – Unassigned fund balance is the residual classification for the general fund. This classification represents fund balance that is spendable and that has not been restricted, committed, or assigned to specific purposes within the general fund. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted, committed, or assigned for those specific purposes.

The County spends restricted amounts first, when both restricted and unrestricted fund balance is available, unless prohibited by legal documents, grant agreements or contracts. Additionally, the County uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies - Continued C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation – Continued Outlays for a particular purpose may be funded from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the government-wide and proprietary fund financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the County’s policy to consider restricted net position to have been depleted before unrestricted net position is applied. The following are reported as major governmental funds: General Fund – The General Fund is the general operating fund of the County. All general tax revenues and other receipts that are not required either legally or by generally accepted accounting principles to be accounted for in other funds are accounted for in the General Fund. General operating funds of the Clerk of Circuit Court, Property Appraiser, Sheriff and Tax Collector represent sub-funds of the County’s General Fund that are held and accounted for individually, but presented herein with the balance of the Board of County Commissioners’ operating funds. Highway Special Revenue Fund – The Highway Special Revenue fund is used to account for the proceeds of specific revenue sources which consist primarily of gasoline taxes and transportation ad valorem taxes. Impact Fees Capital Projects Fund – The Impact Fees Capital Projects fund is used to account for impact fees segregated for the acquisition or construction of major capital facilities related to roads, parks, public safety and law enforcement, which expand or enhance existing capacities to accommodate growth and development within the county. The following are reported as major enterprise funds: Water and Sewer – The Water and Sewer fund accounts for the operation of the County’s potable water, wastewater and reclaimed water services to residents and businesses in the unincorporated portion of Manatee County. Port Authority – The Port Authority fund accounts for the operations of Port Manatee, which is the fifth largest of Florida’s fifteen deepwater-shipping facilities and offers full port services for containerized break bulk and bulk cargoes. Solid Waste – The Solid Waste fund is used to record all operations of solid waste collection, disposal and recycling activities in compliance with federal standards and regulations in order to ensure public health. The County also reports the following fund types: Internal Service Funds – Internal service funds are used to account for the financing of goods or services provided by one department to other departments of the County or to other governmental units on a cost reimbursement basis. County operations include Central Stores, Motor Pool, Communications and Automated Systems Maintenance for direct service in these areas as well as two internal service funds, Health Self Insurance and Self Insurance, for provision of the health, workers’ compensation, fleet and general liability insurance for the County. Investment Trust Fund – The Investment Trust fund accounts for external agencies’ assets in the County’s investment pool. These funds are accounted for in essentially the same manner as proprietary funds since capital maintenance is critical. Agency Funds – Agency funds are custodial in nature (assets equal liabilities) and do not involve measurement of results of operations. Agency funds are merely clearing accounts for assets held by a government as an agent for individuals, private organizations or other governments. Agency funds held by the County include Clerk-General Agency, Tax Collector-State-General Agency, Tax Collector–Local-General Agency which hold funds prior to legal disbursement and the Sheriff-General Agency which holds money in a custodial capacity. These funds are accounted for on an accrual basis of accounting.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies - Continued D. Cash and Cash Equivalents Cash and cash equivalents are cash on hand as well as demand deposits, investments and certificates of deposit included in pooled cash with original maturities of three months or less. Investments include certificates of deposit and investments with original maturities of three months or greater. E. Investments

Florida Statute 218 and the County's investment policy authorize the County to invest surplus funds in the following:

a) the Local Government Surplus Funds Trust Fund Investment Pool under the management of the State Board of Administration

b) the Florida Local Government Investment Trust Fund, an investment pool, under the sponsorship of the Florida Association of Counties and the Florida Association of Court Clerks and Comptrollers

c) negotiable direct obligations of, or obligations of which the principal and interest are unconditionally guaranteed by, the U.S. Government

d) interest bearing time deposits or savings accounts in banks and savings and loans organized under state laws or doing business in and situated in the state, provided collateral requirements are met

e) securities of U.S. instrumentalities, the government sponsored enterprises that include, but are not limited to: Federal Farm Credit Systems Banks, Federal Home Loan Banks, Federal Home Loan Mortgage Corporation and Federal National Mortgage Association

f) commercial paper of U.S. corporations having a rating of at least two of the following three ratings: A-1, P-1 and F-1, as rated by Standard & Poor’s, Moody's, and Fitch Investors Service rating services

g) bankers' acceptances that are eligible for purchase by the Federal Reserve Banks and have a letter of credit rating of AA or better

h) tax-exempt obligations of the State of Florida and its various local governments, including Manatee County. Tax-exempt obligations with a rating of A or less must be an insured issue through MBIA, or an equivalent company. Issues rated A+ or higher may or may not carry an insurance backing.

Investments are stated at fair value in accordance with GASB 31. U.S. treasury notes and U.S. agency and instrumentalities obligations are valued at quoted market. The reported value of the Local Government Surplus Funds Trust Fund Investment Pool’s Prime account (the “Prime”) is shown at share value as it meets the criteria to be “2a-7Like” at September 30. The Florida Local Government Investment Trust (the “FLGIT”) reports all share information at Net Asset Value (NAV) and reflects fair value in its share value in accordance with GASB 31, while the Florida Local Government Trust Day to Day fund (the “Day to Day Fund”) is within the “2a-7” guidelines and reflected at cost. The County invests funds throughout the year in the Prime account, administered by the State Board of Administration (the “SBA”), under the regulatory oversight of the State of Florida. Throughout the year and as of September 30, 2014, the SBA contained certain floating and variable rate securities which were indexed based on the prime rate and/or one and three month LIBOR rates. These investments were purchased to add relative value to the portfolio. There is risk of loss of interest on the investments if there are changes in the underlying indexed base. These investments represented 31% of the SBA’s Prime account at September 30. The County also invests throughout the year in the FLGIT, a public entity investment trust organized under the laws of the State of Florida. The FLGIT is based on current net asset value, variations in value of these assets is determined on a daily basis in the FLGIT portfolio. At September 30, 2014, the FLGIT portfolio included certain asset-backed securities, corporate securities and mortgage-backed securities. These securities amounted to 16%, 27% and 7% respectively of the FLGIT Investment Trust portfolio. The

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies - Continued E. Investments - Continued Day to Day Fund is a short term liquidity fund, and at September 30, 2014 had 22% and 3% respectively invested in corporate securities and asset backed securities. Both funds’ average credit quality is AAA, as rated by Standard and Poor’s. F. Prepaid Items Prepaid insurance and similar items are recorded using the consumption method of accounting. Under the consumption method, services paid for in advance are reported as an asset until the period in which the services are actually consumed. G. Inventories

All inventories are determined by physical count and stated at cost using the moving average, first-in-first-out or last-in-first-out cost basis. Manatee County uses both the consumption method and purchases method of accounting for inventories. The County reports as non-spendable within the fund balances of the governmental fund types those inventories accounted for on the purchases method. H. Capital Assets Capital assets, which include property, plant, equipment, and infrastructure assets (e.g. roads, bridges, curbs and gutters, streets and sidewalks, drainage systems and lighting systems), are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Additions to capital assets are recorded at cost at the time of purchase. Gifts or contributions are recorded at fair market value at the time received. The County maintains a $1,000 threshold for additions to equipment (this and following threshold amounts are not expressed in thousands). Buildings are capitalized when the value is $15,000 or greater. Public domain and system infrastructure assets represent major expenditures for such items as roads, water and sewer treatment plants and lines, landfill improvements, parks and drainage systems. Additions and improvements for roads, water, sewer, landfill, easements and drainage infrastructure are capitalized when the cost amounts to $250,000, while park additions and improvements are capitalized at $25,000. Software purchases and internally generated additions to software are capitalized as intangible assets when their cost equals or exceeds $75,000 and are amortized over 7 years. Depreciation has been provided using the straight-line method. The estimated useful lives of the various classes of depreciable capital assets are as follows: Life - Years

Buildings 15 - 75 Equipment 5 - 10 Autos, trucks and buses 3 - 12 System infrastructure 20 - 40 Public domain infrastructure 20 - 50 Improvements 7 - 15

I. Deferred Outflows/Inflows of Resources

In addition to assets, the statement of financial position includes a separate section for deferred outflows of resources. This represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. Only one item qualifies for reporting in this category. It is the deferred charge on refunding reported in the government-wide statement of net position. A deferred charge on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 1 Summary of Significant Accounting Policies – Continued I. Deferred Outflows/Inflows of Resources - Continued

In addition to liabilities, the statement of financial position includes a separate section for deferred

inflows of resources. This represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. Only one type of item, which arises only under a modified accrual basis of accounting, qualifies for reporting in this category. Unavailable revenue is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources: special assessments and Florida Boater Improvement Program license fees. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. J. Unamortized Bond Insurance

Unamortized debt expense related to bond insurance is amortized by using the outstanding principal method over the life of the related debt and is recorded as unamortized bond insurance. Other bond issuing costs are expensed when incurred. In the fund financial statements, governmental fund types recognize bond issuance costs during the current period as debt service expenditures. K. Amortization of Discount and Premium on Bonds Amortization of discount and premium on bonds is determined by using the outstanding principal method over the life of the related debt. The amortization of discount or premium is recorded as an adjustment to interest expense. Bonds payable are reported net of the applicable bond discount or premium. In the fund financial statements, governmental fund types recognize bond premiums and discounts during the current period. The face amount of debt issued and premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. L. Compensated Absences

County policy permits employees to accumulate a limited amount of annual and sick leave, which will be paid to employees upon termination of employment. Accumulated annual and sick leave is accrued when incurred in the government-wide and proprietary fund financial statements. A liability is recorded in the governmental fund financial statements only when the payment is probable. M. Property Taxes Property taxes, based on assessed values at January 1st, become due and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Property taxes become delinquent on April 1st and tax certificates for the full amount of any unpaid taxes and assessments must be sold no later than June 1st. No accrual for property taxes receivable, with a corresponding uncollectible allowance, is included in the accompanying financial statements since there are no significant delinquent taxes as of September 30 and property taxes levied and payable in November are used to finance expenditures of the subsequent period.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands)

Note 2 Budgets and Budgetary Data The following are the statutory procedures followed by the Board of County Commissioners in

establishing the budget for Manatee County: 1) On or before May 1 of each year, the Sheriff, the Clerk of Circuit Court, the Property Appraiser,

and the Supervisor of Elections shall each submit to the Board of County Commissioners a tentative budget for their respective offices for the ensuing fiscal year.

2) Within fifteen days after certification of the ad valorem tax roll by the Property Appraiser, the County Budget Officer submits to the Board a proposed budget for the fiscal year commencing the following October 1st. The budget includes proposed expenditures and the means of financing them.

3) Public hearings are held to obtain taxpayer comments. After the first public hearing and after adoption of a Board resolution, a tentative budget and millage rates are submitted to the public and advertised in a newspaper with general circulation.

4) Within fifteen days after adoption of the tentative budget, a final budget is submitted for review and adoption at a final public hearing.

5) At the final public hearing, held on or prior to September 30th, the County's budget is legally enacted through passage of a resolution. Accordingly, all fund types have an adopted budget as required by Florida Statute 129.03.

6) The Financial Management Department approves budget changes at the departmental level within a fund. The Board approves all other budget changes. Supplemental appropriations were necessary and the budgetary data presented herein was amended by the Board during the year in a legally permissible manner.

7) Florida Statute 129, Section 7, as amended in 1978, provides that only expenditures in excess of total fund budgets are unlawful. However, because the Board acts on all budget changes between departments, the lower of fund or department becomes the level of control.

8) Formal budgetary integration is employed as a management control device during the year for all fund types.

9) Annual budgets for all governmental funds except capital project funds are adopted on a basis consistent with generally accepted accounting principles. Budgets for capital project funds are prepared for the project life rather than for the current fiscal year. Project appropriations for these budgets do not lapse at the end of each fiscal year but rather at the conclusion of the project.

10) All appropriations, except capital project funds appropriations, lapse at the fiscal year-end.

In addition, the County established a Budget Reserve Policy by resolution in May of 2010. To ensure that fund balance, in aggregate, is always adequate to provide cash flow until anticipated revenues are realized, a minimum fund balance level is determined for each major operating fund based on the individual history of revenue inflows and cash outflows. Manatee County restricts the funding for ongoing operations to recurring revenue sources. With the exception of specified budget stabilization reserves, fund balance is not typically used for recurring expenditures, but is used to fund non-recurring operations or capital expenditures when it is determined that sufficient fund balances are available. Various funds of the county require a minimum cash balance level of 20% of the fund’s total budgeted operating expenditures. Funds subject to this requirement are the General Fund, the Transportation Trust Fund, the Unincorporated Municipal Services Taxing Unit Fund, the Utility Fund and the Solid Waste Fund. Beginning in Fiscal Year 2009-2010, reserves above the amounts needed for operating cash and minimum fund balances were set aside in a Budget Stabilization reserve established in the General Fund to provide a temporary source of funding for essential services until property taxes stabilize or new revenue sources are instituted. This stabilization reserve holds $14.7 million at September 30, 2014.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 3 Cash, Cash Equivalents and Investments Board of County Commissioners Investment Pool

The Manatee County Board of County Commissioners uses a pooled cash concept for investments. The Board, upon request, includes funds of local small governments in the pool. Therefore, the County investment pool qualifies as an external investment pool. Participation in the pool is voluntary. Agreements with local government entities provide that funds will be invested with the same due care and guidelines as internally invested funds. The pool is self-regulated and is not registered with the Securities and Exchange Commission. The County has not provided or obtained any legally binding guarantees for the pool, during the fiscal year ended September 30, 2014. A monthly detailed portfolio of securities held, including market pricing, is provided to each external participant along with a calculation of their net change in investment participation. Additionally, a yearly fair-value accounting is made to each participant. Investments and earnings, other than accrued earnings and adjustment to fair value, are available on an immediate basis to pool participants. Manatee County’s external investment portfolio was unrated at September 30, 2014. Investment pool information is available through the Clerk of Circuit Court and Comptroller and follows the investment policy established by the Manatee County Board of County Commissioners under Florida Statute, Section 218. An investment portfolio and statement of earnings is provided to the Board of County Commissioners on a yearly basis and investments are included in the County’s yearly external audit with appropriate reports to the State Treasurer for Chapter 280 Public Depositors. The pool is maintained on an economic resource basis and accruals for fiscal year-end include all entries necessary to properly record and reflect investments at amortized fair value. On September 30, 2014, the County’s Pooled Cash Investment Fund (the “Pooled Fund”) had $188,755 invested in the Prime account, a 2a7-like pool which is carried at cost, which approximates market with the State Board of Administration (the “SBA”). A 2a7-like pool is not registered with SEC as an investment company, but has a policy that it will, and does, operate in a manner consistent with the SEC’s Rule 2a7 of the Investment Company Act of 1940, the rules governing money market funds. Thus, the Prime operates essentially as a money market fund, but is classified as an external investment pool. There were no liquidity restrictions on this pool, and Prime’s weighted average days to maturity was 39.3 days. At September 30, 2014, the Prime pool was rated AAAm principal stability fund rating by Standard and Poor’s rating agency.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 3 Cash, Cash Equivalents and Investments - Continued Board of County Commissioners Investment Pool - Continued Pooled Investments At September 30, the County’s pooled investments are valued in accordance with GASB 31, is as follows: Type and Number of Fair Value Interest Rate / Principal Amort ized Fair

Investments Method Maturity Range Value Cost Value

Local Government Surplus Funds Trust, 0.160%PRIME Account (2) Cost 10/14 $ 188,755 $ 188,755 $ 188,755

Public Funds NOW 0.051%Account (1) Cost 10/14 1,000 1,000 1,000

Institutional Cash 0.100%Fund (1) Cost 10/14 41,993 41,993 41,993

Certificates of 0.280%-0.650%Deposit (7) Cost 03/15-09/16 56,000 56,000 56,000

Florida Local CurrentGovernment NAV share 0.773%Investment Trust (1) value 10/14 38,457 38,457 38,452

Florida Local Government Day 0.066%to Day Fund (1) Cost 10/14 15,110 15,110 15,110

U.S. Treasury Qtd 0.300%-0.731%Notes (11) Market 11/14-08/16 88,000 87,941 88,090

Federal Home Loan Qtd 0.390%-1.125%Bank (10) Market 12/15-08/17 66,270 66,251 66,130

Federal Home LoanMortgage Qtd 0.350%-1.100%Corporation (9) Market 03/15-07/17 66,420 66,408 66,361

Federal National Mortgage Qtd 0.500%-1.118%Association (5) Market 03/16-09/17 35,000 34,989 34,939

Federal Farm Credit Qtd 0.276%-0.720%Bank (5) Market 11/14-11/16 40,000 39,982 39,873

TOTAL Pooled Cash (53) $ 637,005 $ 636,886 $ 636,703

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 3 Cash, Cash Equivalents and Investments - Continued Board of County Commissioners Investment Pool – Continued Custodial Credit Risk of Pooled Investments At year-end, the pool had demand deposits of $45,899 and non-negotiable certificates of deposit of $56,000. All balances in excess of the Federal Depository Insurance Corporation insurance for demand and time deposits are fully collateralized by the multiple financial institutions’ collateral pool in accordance with Florida Statutes Section 280. U.S. Treasury notes, U.S. Treasury bills and all U.S. government agency and instrumentality securities are held by the County’s agent in the County’s name, in accordance with the County’s investment policy requiring third party custody and safekeeping. Credit Risk of Pooled Investments Credit quality risk results from potential default of investments that are not financially sound. Certificates of deposit are not individually rated, but all balances in excess of the Federal Depository Insurance Corporation insurance for time deposits are fully collateralized by the multiple financial institutions’ collateral pool, in accordance with Florida Statutes, Section 280. The Prime account was rated AAAm by Standard & Poor’s at September 30, 2014. The SBA’s investment policies related to the Prime fund are disclosed at https://www.sbafla.com/prime. The FLGIT account and the Florida Trust Day to Day Fund were rated as AAAf and AAAm, respectively, by Standard and Poor’s. Concentration of credit risk is the risk of loss attributable to the quantity of the government’s investment in a single issuer. To limit concentration of credit risk, the County’s investment policy requires diversification of the portfolio with maximum limits that can be invested per investment type. Investments in single issuers that equal or exceed 5% of the pool assets have a reportable concentration of credit risk. Of the total $56,000 in certificates of deposit, $40,000 meets the single issuer threshold for reportable concentration of credit risk.

Percentage ofTotal Pooled

Investment Type Credit Rat ing InvestmentsCertificates of Deposit No rating $ 40,000 6.3%Institutional and Public Funds in Banks No rating 41,993 6.6%Federal Home Loan Bank AA+ 66,130 10.4%Federal Home Loan Mortgage Corporation AA+ 66,361 10.4%Federal National Mortgage Association AA+ 34,939 5.5%Federal Farm Credit Bank AA+ 39,873 6.2% Total with concentration risk $ 289,296 45.4%

Concentrat ion

Fair ValueRisk at

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 3 Cash, Cash Equivalents and Investments - Continued Board of County Commissioners Investment Pool – Continued Interest Rate Risk of Pooled Investments Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The County’s investment policy recognizes that the longer a maturity of an investment, the greater its price volatility. The County’s policy limits risk for pooled investments by requiring all investments to have a maturity of three years or less from date of purchase, with a weighted average to maturity of less than two years. At September 30, 2014, the County’s weighted average to maturity was .81 years. At September 30, 2014, none of the Pooled Investments have a maturity greater than three years.

Investment Type 0-1 Year 1-2 Years

Greater Than

2 YearsLocal Government Surplus Funds Trust, PRIME account $ 188,755 $ 188,755 $ - $ - Institutional Cash Fund 41,993 41,993 - - Certificates of Deposit 56,000 48,000 8,000 - Florida Local Government Investment (Trust and Day to Day) 53,562 53,562 - - Public Funds NOW 1,000 1,000 - - U.S. Treasury Notes 88,090 80,079 8,011 - Government Sponsored Enterprises 207,303 16,011 92,345 98,947 Total $ 636,703 $ 429,400 $ 108,356 $ 98,947

Investment Maturit ies

Total Fair Value

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 3 Cash, Cash Equivalents and Investments - Continued Board of County Commissioners Investment Pool – Continued The following statements, as required by GASB 31, reflect the financial position of the Board of County Commissioners pooled investments at September 30: Statement of Net Position – September 30, 2014 AssetsCash and cash equivalents $ 278,284 Investment portfolio at fair value 351,393 Interest receivable 419 Total assets $ 630,096

Net Posit ionHeld in trust for: Other government participants $ 24,645 Internal fund participants 605,451 Total net position $ 630,096

Statement of Changes in Net Posit ionFor the Fiscal Year Ended September 30, 2014

Operat ionsInterest income $ 2,251

Capital Part icipat ionAdditions $ 561,126 Withdrawals (581,924) Net decrease in net position from participation $ (20,798)

Net position held in trust for participants at October 1 648,643 Net position held in trust for participants at September 30 $ 630,096

Other Constitutional Officers Demand deposits of the Constitutional Officers at September 30, 2014 amounted to $41,238. These deposits are fully insured in accordance with Florida Statute, Section 280, which established the multiple financial institution collateral pool. The fair value of the Constitutional Officers’ investments amounted to $5,813. On September 30, 2014 the Clerk of the Circuit Court and the Property Appraiser had account balances of $4,794 and $1,019, respectively, in the SBA Prime account.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 4 Fund Balance Fund balances are presented in the following categories: nonspendable, restric ted, committed, assigned and unassigned (see Note 1 for a description of these categories). A detailed schedule of fund balances at September 30, 2014 is as follows:

HighwaySpecial Capital Other Total

General Revenue Projects Governmental GovernmentalFund Fund Fund Funds Funds

Nonspendable:Advances $ 14,079 $ - $ - $ - $ 14,079Inventory 246 261 - - 507Prepaids/Deposits 1,876 97 503 2,025 4,501

Total nonspendable fund balance 16,201 358 503 2,025 19,087

Restric ted for:Indigent care - - - 7,515 7,515Federal & state grants - - - 173 173Bond covenants or debt serv ice - - - 656 656Impact fees - - 64,305 20,003 84,308Park improvements - - - 1,637 1,637Other transportation projects - 871 - - 871Road/Bridge maintenance & improvements - 13,215 - 32,141 45,356Buildings & improvements - - - 9,520 9,520Beach renourishment - - - 1,106 1,106Community redevelopment - - - 3,559 3,559Tourist development - - - 4,712 4,712Public safety-Sheriff - - - 2,218 2,218Public safety-911 - - - 1,287 1,287Building inspections & enforcement - - - 14,237 14,237Court programs - - - 2,304 2,304Other purposes 70 - - 5,884 5,954Library - - - 507 507

Total restric ted fund balance 70 14,086 64,305 107,459 185,920

Committed for:Other purposes 1,023 - - - 1,023Public safety-Sheriff 600 - - - 600Special distric ts - - - 13,410 13,410Beach renourishment - - - 915 915

Total committed fund balance 1,623 - - 14,325 15,948

Assigned for:Transportation operations - 24,624 - - 24,624Parks & recreation - - - 1,231 1,231Road/Bridge maint & improvements - - - 1 1Buildings & improvements - - - 5,922 5,922Beach renourishment - - - 932 932Public safety-Sheriff 3,462 - - 23 3,485Other purposes 1,304 - - 168 1,472Federal & State grants - - - 1,384 1,384Tourist development - - - 371 371Building inspections & enforcement - - - 156 156Children's Serv ices - - - 2,118 2,118Library - - - 1,736 1,736

Total assigned fund balance 4,766 24,624 - 14,042 43,432

Unassigned fund balance 69,810 - - - 69,810Total Fund Balances $ 92,470 $ 39,068 $ 64,808 $ 137,851 $ 334,197

Impact Fees

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 5 Interfund Balances A. Due to/from other funds at September 30: Interfund balances at September 30, 2014 consist of the following amounts:

AmountDue to General Fund from: Nonmajor governmental funds $ 833 Due to Nonmajor governmental funds from: General Fund 400 Total due to/from $ 1,233

This balance resulted from (1) $405 in a loan from the General Fund due to other funds to cover deficit cash balance at September 30, 2014, and (2) $828 from the lag between the date that interfund goods and services are provided or reimburseable expenditures occur and the date that payments between funds are made. B. Advances from/to other funds at September 30: Advances from the General Fund to: Nonmajor governmental funds $ 13,904 Nonmajor enterprise funds 175

14,079

Advance from Solid Waste to: General Fund 1,300

Nonmajor governmental funds 5,330

Total advances from/to $ 20,709

These advances consist of a $3,282 advance to tourist development for therenovation of the convention and visitors center, a $734 advance to fund theCourts technology expenditures, a $2,500 advance for improvements for theHistoric Courthouse 2nd Floor Remodel Project, a $7,388 advance forimprovements for Manatee County Shore Protection Project and $175 tocover negative cash in the Transit Fund at September 30, 2014.

This advance is for costs related to the development of a Seagrass Mitigation Area within the Perico Preserve.

Advance from Internal Service Funds to:

This advance is for costs related to the construction and implementation of the Energy Service Company (ESCO) project under contract with Florida Power and Light services to provide guaranteed energy savings to the County.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 6 Restricted Assets Restricted assets include those provided for by resolutions adopted by the County Commission for the issuance of the Public Utilities System bonds, the Port Authority Revenue bonds and the Florida Department of Transportation State infrastructure loan with the Port. The landfill closure escrow account is required by state and federal laws and regulations. Total restricted assets, as of September 30, are as follows:

Cash and Cash InterestEquivalents Receivable Total

Water and SewerDebt service funds $ 899 $ 6 $ 905 Customer deposits 5,794 - 5,794 Construction funds 12,171 10 12,181

18,864 16 18,880

Port AuthorityDebt service funds 2,248 2 2,250

Solid WasteCustomer deposits 1,445 - 1,445 Landfill closure escrow 35,010 - 35,010

36,455 - 36,455 Total $ 57,567 $ 18 $ 57,585

Note 7 Conduit Debt Obligations From time to time, Manatee County has issued industrial development revenue bonds to provide financial assistance to private sector entities for the acquisition and construction of industrial and commercial facilities deemed to be in the public interest. The bonds are secured by the property financed and are payable solely from payments received on the underlying mortgage loans. Manatee County is not obligated in any manner for repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. As of September 30, 2014 there is one series of outstanding industrial development revenue bonds, with an aggregate principal amount of $16,510.

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 8 Capital Assets

Capital assets activity for the fiscal year follows: Governmental Act ivit ies: October 1 Addit ions Deduct ions September 30Capital assets not depreciated: Land and other non-depreciable assets $ 176,052 $ 1,063 $ 263 $ 176,852 Construction in progress 50,636 40,477 13,122 77,991 Total assets not depreciated 226,688 41,540 13,385 254,843 Capital assets depreciated: Buildings 267,627 1,362 3,605 265,384 Public domain infrastructure 524,212 5,316 - 529,528 Improvements other than buildings 128,276 8,854 111 137,019 Machinery and equipment 132,394 17,669 6,698 143,365 Total assets depreciated 1,052,509 33,201 10,414 1,075,296 Less accumulated depreciation: Buildings 48,956 4,055 1,034 51,977 Public domain infrastructure 113,696 11,037 - 124,733 Improvements other than buildings 58,550 8,102 78 66,574 Machinery and equipment 86,716 12,538 6,009 93,245 Total accumulated depreciation 307,918 35,732 7,121 336,529 Total depreciable capital assets, net 744,591 (2,531) 3,293 738,767 Total governmental activities capital assets, net $ 971,279 $ 39,009 $ 16,678 $ 993,610

Business-type Act ivit ies:Capital assets not depreciated: Land $ 73,875 $ 1,156 $ - $ 75,031 Construction in progress 92,179 52,633 26,181 118,631 Total assets not depreciated 166,054 53,789 26,181 193,662 Capital assets depreciated: Buildings 99,851 465 - 100,316 System infrastructure 1,041,485 26,072 - 1,067,557 Machinery and equipment 65,357 5,366 1,454 69,269 Total assets depreciated 1,206,693 31,903 1,454 1,237,142 Less accumulated depreciation: Buildings 38,017 2,889 - 40,906 System infrastructure 439,170 26,418 - 465,588 Machinery and equipment 34,507 4,714 1,282 37,939 Total accumulated depreciation 511,694 34,021 1,282 544,433 Total depreciable capital assets, net 694,999 (2,118) 172 692,709 Total business-type activities capital assets, net $ 861,053 $ 51,671 $ 26,353 $ 886,371

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Manatee County, Florida Notes to Financial Statements September 30, 2014

(Amounts expressed in thousands) Note 8 Capital Assets – Continued Depreciation expense was charged to functions on the Statement of Activities as follows: Governmental Act ivit ies: General government $ 4,459 Public safety 10,188 Physical environment 3,478 Transportation 10,271 Economic environment 34 Human services 143 Culture and recreation 3,738 Internal service funds 3,421 Total $ 35,732

Business-type Act ivit ies: Water and sewer $ 23,923 Port Authority 5,200 Solid waste 2,102 Transit 1,874 Stormwater 343 Civic center 579 Total $ 34,021

Governmental activities capital assets include a temporarily impaired asset. A portion of the Hensley Public Safety Complex has undergone major renovations in conjunction with the construction of the new judicial center. The Hensley Public Safety Complex was taken out of service and depreciation of this building was suspended during fiscal year 2006. As of September 30, 2014, of the original $8,723 carrying value, $2,888 has been placed back in service. As the Hensley Public Safety Complex continues to undergo renovations, portions of the asset will continue to be placed back in service. Note 9 Recognition of Closure and Postclosure Cost State and federal laws require final cover and closure as well as postclosure care of Manatee County's Lena Road Landfill. Cost estimates include final cover, anticipated costs of equipment and facilities constructed near or after closure and thirty years of monitoring and maintenance costs subsequent to closing. Closure cost estimates are subject to regulatory review. The current closure cost estimate of $51,352 represents closure costs of $37,292 for 286 acres of current landfill area and postclosure cost of $14,060 for all 316 landfill acres. This estimate is subject to changes due to the effects of inflation/deflation, advances in technology, applicable laws and regulations or other variables. A portion of the closure and postclosure cost is reported each period as operating expense based on landfill capacity used as of each balance sheet date. To date 52.92% of the remaining 286-acres landfill capacity has been used. The accompanying closure/postclosure liability of $27,806 for this used capacity is reflected as a liability at September 30, 2014 and is net of closure payments paid in prior years. Closure costs of a permanently closed 30-acre section at Lena Road amounted to $2,132 and are not reflected in the above totals. A current year closure/postclosure cost of $1,242 has been included as a debit to operating expense in the current fiscal year, based on the most recently approved cost estimates. Closure and postclosure cost of $23,546 remain to be recognized in the estimated thirty-one years of remaining useful landfill design life.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 9 Recognition of Closure and Postclosure Cost - Continued The County is required by state and federal law and regulations, to meet certain financial assurance requirements by making annual contributions and or meeting certain financial ratio tests. The landfill is in compliance with these requirements at September 30, 2014, with cash and investments of $35,010 held for these purposes. Note 10 Long-Term Debt

The following is long-term debt activity for the year ended September 30: Due Within

October 1 Addit ions Deduct ions September 30 One YearBusiness-type act ivit ies: Revenue bonds $ 167,825 $ - $ 7,915 $ 159,910 $ - Notes payable 499 3,453 499 3,453 258 Loans payable 6,929 - 4,120 2,809 - Compensated absences 4,396 2,442 2,155 4,683 233 OPEB liability 11,002 1,123 - 12,125 - Closure liability 26,564 1,242 - 27,806 - Total 217,215 8,260 14,689 210,786 491

Governmental act ivit ies: Revenue bonds 101,750 6,482 10,605 97,627 1,682 General obligation bonds 7,120 7,275 9,790 4,605 2,780 Notes payable 5,984 - - 5,984 127 Compensated absences 24,647 15,832 14,843 25,636 970 OPEB liability 59,419 6,715 - 66,134 - Arbitrage rebate 40 - - 40 - Total 198,960 36,304 35,238 200,026 5,559 Total long-term debt $ 416,175 $ 44,564 $ 49,927 $ 410,812 $ 6,050

Unamortized discount and premiums on business-type activities revenue bonds amounted to $572 and $2,612 respectively. Unamortized premiums on governmental activities revenue bonds amounted to $10,888. Long-term debt liability for internal service funds are included as part of the total for governmental activities, because they predominantly serve the governmental funds. At year-end, compensated absences of $524 in the internal service funds are included in the above amount. For governmental activities, compensated absences and the OPEB liability are generally liquidated by the general fund. Claims and judgments are classified as short-term debt. -62-

Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 10 Long-Term Debt – Continued

Long-term debt payable at September 30, 2014 is composed of the following issues: Revenue Bonds

$44,895 Series 2006 Public Ut ilit ies Revenue Improvement Bonds with $3,065 of principal due October 1, 2015 to $4,010 due October 1, 2021; interest at 4.00% to 5.00% $ 24,550 $17,925 Series 2010A Public Ut ilit ies Revenue Improvement Bonds with $2,880 of principal due October 1, 2020 to $2,315 due October 1, 2025; interest at 5.951% to 6.801% 17,925 $45,300 Series 2010B Public Ut ilit ies Revenue Improvement Bonds with $1,210 of principal due October 1, 2025 to $5,230 due October 1, 2035; interest at 7.178% to 7.378% 45,300 $6,720 Series 2010C Public Ut ilit ies Revenue Improvement Bonds with $1,310 of principal due October 1, 2017 to $2,760 due October 1, 2019; interest at 3.50% to 5.00% 6,720 $8,190 Series 2010D Public Ut ilit ies Revenue Improvement Bonds with $2,320 of principal due October 1, 2015 to $1,215 due October 1, 2017; interest at 3.894% to 5.048% 5,945 $22,650 Series 2011 Public Ut ilit ies Revenue Refunding Bonds with $1,945 of principal due October 1, 2015 to $2,765 due October 1, 2023; interest at 3.00% to 5.00% 20,765 $6,605 Series 2012A Port Authority Revenue Refunding Bonds with $265 of principal due October 1, 2015 to $430 due October 1, 2032; interest at 2.00% to 4.00% 6,115 $33,730 Series 2012B Port Authority Revenue Refunding Bonds with $620 of principal due October 1, 2015 to $2,160 due on October 1, 2042;interest at 2.00% to 4.00% 32,590 Total revenue bonds for business-type act ivit ies 159,910

$59,585 Series 2006 Revenue Improvement Bonds with $4,050 of principal due October 1, 2015 to $4,250 due October 1, 2016;interest at 5.00% 8,300 $14,210 Series 2010 Revenue Refunding Bonds with $1,540 of principal due April 1, 2015 to $1,685 due April 1, 2017; interest at 3.838% to 4.69% 4,840 $79,640 Series 2013 Revenue Refunding and Improvement Bonds with $4,440 of principal due October 1, 2015 to $3,085 due October 1, 2029; with a maximum principal of $10,935 due October 1, 2020; interest at 3.00% to 5.00% 78,005 $6,482 Series 2014 Revenue Improvement Bonds with $142 of principal due January 1, 2015 to $533 due January 1, 2034; with interest at 3.69% 6,482 Total revenue bonds for governmental act ivit ies 97,627 Total revenue bonds $ 257,537

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 10 Long-Term Debt – Continued General Obligat ion Bonds

$7,275 Series 2014 General Obligat ion Refunding Bonds due in annualinstallments of $2,780 to $635 on September 30, 2015 to September 30, 2018; withinterest at 1.09% $ 4,605

Notes Payable

$453 Series 2014A Revenue Note with$453 due on September 23, 2019 with interest due monthly at rates based on 65% of one-month LIBOR plus 1.77%; as of September 30, 2014 the interest rate was 1.92%. $ 453 $3,000 Series 2014B Revenue Note due in monthly installments of $21 October 1, 2014 to $29 on September 1, 2024;interest at 3.15% 3,000 Total notes payable for business-type act ivit ies 3,453

$5,984 Revenue Improvement Note 2013 due in semi-annual installments of $63 on March 30, 2015 to $294 September 1, 2033; with interest at 3.67% 5,984 Total notes payable for governmental act ivit ies 5,984 Total notes payable $ 9,437

Loans Payable

$4,500 Florida Department of Transportat ion State Infrastructure Bank Loandue in annual installments of $219 October 1, 2015 to $146 onOctober 1, 2026; with a maximum principal of $267 due October 1, 2025;interest at 2.00% 2,809 Total loans payable for business-type act ivit ies $ 2,809

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 10 Long-Term Debt – Continued

All of the revenue bonds and notes, general obligation bonds and loans payable provided funds for the acquisition and construction of capital facilities. The impact of these capital related borrowings have been included in the net position calculations for net investment in capital assets and/or restricted for construction projects. Debt Service Requirements

The total annual debt service requirements for all debts outstanding at September 30 are as follows: Business-type act ivit ies: Principal Interest September 30

2015 $ 8,692 $ 8,637 $ 17,329 2016 9,010 8,320 17,330 2017 9,374 7,947 17,321 2018 9,792 7,533 17,325 2019 10,644 7,132 17,776

2020-2024 41,972 28,438 70,410 2025-2029 25,743 19,722 45,465 2030-2034 30,600 11,094 41,694 2035-2039 14,115 2,727 16,842 2040-2044 6,230 504 6,734

166,172 102,054 268,226

Governmental Act ivit ies: Principal Interest September 302015 13,079 4,683 17,762 2016 11,501 4,247 15,748 2017 12,250 3,708 15,958 2018 10,776 3,271 14,047 2019 10,737 2,761 13,498

2020-2024 28,194 7,306 35,500 2025-2029 17,230 2,784 20,014 2030-2034 4,449 455 4,904

108,216 29,215 137,431 Total $ 274,388 $ 131,269 $ 405,657

Restrictive Covenants and Collateral Requirements The Public Utilities Bonds are payable solely from and secured by a first lien upon a pledge of the net revenues of the Public Utilities System. The Public Utilities System consists of the County’s Water and Sewer System, Solid Waste System and Stormwater Management System. The pledge of the net revenues by the County from the operations of the Public Utilities System does not constitute a lien upon the Public Utilities System or any other property of the County. The covenants of the resolution authorizing the Public Utilities Bonds include, among other things, an obligation of the County to fix, establish and maintain such rates and collect such fees, rentals or other charges for the services and facilities of its Public Utilities System, and to revise the same from time to time whenever necessary, as will always provide in each year net revenues, as defined in the resolution authorizing the revenue bonds which shall be adequate to pay at least one hundred fifteen percent (115%) of the annual debt service requirements for the Public Utilities System.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 10 Long-Term Debt – Continued Restrictive Covenants and Collateral Requirements – Continued

The Public Utilities System was in compliance with their covenants for the year ended September 30,

2014. The Port Authority Bonds are payable solely from and secured solely by pledged revenues. Pledged

revenues consist of (i) net revenues, which consist of the Port revenues after deduction of operating expenses, (ii) legally available non-ad valorem revenues budgeted and appropriated by the County and deposited into the Debt Service Reserve Account of the Sinking Fund established under the resolution if at the end of any fiscal year, the amounts on deposit in the Debt Service Reserve Account do not equal the debt service reserve requirement and (iii) investment income received from certain funds and accounts established by the resolution.

The Port Authority has covenanted in the resolution authorizing bonds, among other things, to fix, establish, maintain and collect such rates, fees, rentals or other charges for the services and facilities of the Port, and to revise the same from time to time whenever necessary, as will always provide in each fiscal year, net revenues which will be at least equal to one hundred ten percent (110%) of the annual debt service requirements for the bonds, and that such net revenues shall always be sufficient to make one hundred percent (100%) of all of the required deposits into the various funds and accounts created and established by the resolution, and that such rates, fees, rentals or other charges shall not be reduced so as to be insufficient to provide adequate revenues for such purposes.

The Port Authority was in compliance with this covenant for the year ended September 30, 2014.

In regard to the State of Florida Department of Transportation Infrastructure Bank Loan agreement, the Port Authority covenants to maintain revenue rates at a level sufficient to provide, in each fiscal year, pledged revenues equal to or exceeding one (1) times the sum of the loan payments due in such fiscal year.

The Port Authority was in compliance with this covenant for the year ended September 30, 2014.

The Port Authority Series 2014A and 2014B Revenue Notes contain a covenant that in each fiscal year, beginning with fiscal year 2015, as the first year in which debt service is required, pledged revenues which are available after the annual debt service on the Port Authority Bonds, Series 2012A and 2012B, and SIB loan, will be equal to or exceed one and five one-hundredths (1.05) times the annual debt service due in that fiscal year.

According to the covenants of the resolution authorizing the issuance, the Revenue Improvement Bonds,

Series 2006, the Revenue Refunding Bonds, Series 2010, the Revenue Refunding Bonds, Series 2011 and the Revenue Refunding Bonds, Series 2013, Revenue Improvement Note, Series 2013 and the Revenue Improvement Note, Series 2014 are payable solely from and secured by the pledged revenues. The pledged revenues consist of non-ad valorem revenues or other legally available funds sufficient to satisfy the debt service requirements.

There are no significant restrictive covenants with respect to the general obligation bonds issued by the

County and none of these issues requires a sinking fund investment.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 10 Long-Term Debt – Continued Nonexchange Financial Guarantees On October 18, 2012 Manatee County and the Port Authority, a blended component unit of the County, entered into an Interlocal Agreement under which the County covenanted with the Port Authority to appropriate in its annual budget in each fiscal year and to transfer to the Port Authority within 30 days of the date of withdrawal from debt reserve accounts, non-ad valorem revenues to cure any reserve account deficiency relating to the Port Authority Series 2012A and 2012B bonds (“2012 Bonds”). Per this agreement, the County covenanted to appropriate and deposit amounts not greater than the applicable debt service reserve requirements of said bonds for that County fiscal year. The Port Authority has covenanted to repay the County from its surplus net revenues, all non-ad valorem revenues received by the Port Authority from the County under this Interlocal Agreement. The County’s obligations under the Interlocal Agreement with respect to the 2012 Bonds terminate and are satisfied upon payment in full of the 2012 Bonds. At September 30, 2014, no amounts had been paid in the current period or cumulatively by either party under this agreement. Capitalization of Interest

Interest costs incurred in enterprise funds during construction are capitalized, net of interest income from the proceeds of related tax-exempt debt, as part of the cost of the related assets of the Water and Sewer Fund, Solid Waste and Port Authority.

Interest costs on long-term debt incurred and capitalized during the year ended September 30 were as

follows:

Total Interest Interest Costs Net InterestCosts Incurred Capitalized Expense

Business-type Act ivit ies: Water and sewer $ 6,879 $ 1,377 $ 5,502 Port Authority 1,798 - 1,798 Solid waste 133 - 133 Total business-type activities $ 8,810 $ 1,377 $ 7,433

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 10 Long-Term Debt – Continued New Debt Issues On December 30, 2013 the Port Authority received a $2,600 draw from the Revenue Note 2011, a non-bank qualified line of credit which served as an alternative to drawing upon Port Authority reserves. The draw enabled the Port to purchase two new locomotives, which were later reimbursed by Federal and State Grants. The interest rate was 2.15%, payable monthly. This draw was repaid on August 22, 2014. On January 8, 2014 the County issued $7,275 of General Obligation Refunding Bonds, Series 2014 for the purpose of refunding $7,120 of the General Obligation Refunding Bonds, Series 2003. These bonds have an average interest rate of 1.09%, the refunded bonds have an average interest rate of 4.1109%. The refunding resulted in a loss of $97 which is being amortized over the life of the refunded bonds and yielded an economic gain of $323. On May 23, 2014 the County issued $6,482 of Revenue Improvement Bonds, Series 2014 for the purpose of financing the purchase of certain energy savings equipment as described in the Guaranteed Energy Performance Contracting Services Agreement between the County and FPL Services, LLC and paying costs of issuing the Bond. This bond has an average interest rate of 3.69%. On September 23, 2014, the Port Authority executed a $1,000 revolving line of credit from Hancock Bank, Revenue Note Series 2014A. On the same date the Port Authority borrowed $453 to finance the Authority’s share of a Federal dredging project at the Port. This note has a variable interest rate at 65% of 30 day LIBOR plus 1.77%. At September 30, 2014, this interest rate was 1.92%. On September 23, 2014, the Port Authority borrowed $3,000 from Hancock Bank, Manatee County Port Authority Revenue Note, Series 2014B for the purpose of refinancing the existing two harbor crane loans. This note has a fixed interest rate of 3.15%. This refinancing did not result in either losses or economic gains. The following is the short-term debt activity for the year ended September 30,2014:

Due WithinOctober 1 Addit ions Deduct ions September 30 One Year

Business-type activities:Notes payable $ - $ 2,600 $ 2,600 $ - $ -

Note 11 Refunding of Outstanding Debt In prior years, the County defeased certain general obligation and certain revenue bonds by placing the

proceeds of new bonds with an escrow agent in irrevocable trust accounts to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in the County’s financial statements. The $78,380 of outstanding principal on these refunded bonds at September 30 was related to governmental activities.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 12 Lease Obligations Rental expenditures under operating leases for the year ended September 30, 2014 amounted to

$1,495. The future minimum lease payments for the Governmental Funds under non-cancellable long-term operating leases as of September 30 are as follows:

Fiscal Year2015 $ 674 2016 231 2017 146 2018 129 2019 132

Thereafter 104 Total $ 1,416

Note 13 Port Authority Leases The Port Authority leases (as lessor) a portion of its real property to various tenants for storage and processing of their products, which are loaded and unloaded at the Port. The lessees have constructed the storage or processing facilities necessary for their use on the land leased from the Port Authority. Lease terms vary from 5 to 50 years with renewal options for additional periods ranging from 5 to 50 years. All land held, except that on which the warehouse and operations and maintenance building is located, and land reserved for possible future construction is available for leasing. Portions of the land are leased periodically on a one-year basis, renewable from year to year, for farming operations. Lease revenue totaled $2,367 for the year ended September 30, 2014. The following is a schedule by years of minimum future rental revenues to be received on non-cancellable operating leases as of September 30:

Fiscal Year2015 $ 2,325 2016 1,826 2017 1,416 2018 1,326 2019 1,326

2020-2024 5,500 2025-2029 4,060 2030-2034 3,678 2035-2039 3,581 2040-2044 1,289 2045-2049 716 2050-2054 30

Total minimum future rentals $ 27,073

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 13 Port Authority Leases - Continued The following is a breakdown of the capital assets under lease arrangements by major asset class as of September 30:

Cost of AccumulatedLeased Asset Depreciat ion Carrying Value

Land $ 375 $ - $ 375 Warehouses 23,675 10,043 13,632 Office Space 511 213 298 Cranes 7,939 2,187 5,752

$ 32,500 $ 12,443 $ 20,057

Note 14 Fund Deficits

The following funds had deficits at September 30: Enterprise Funds Port Authority – The negative unrestricted net position of $1,356 is the result of the Port’s continued capital investments in an effort to increase capacity in the face of a competitive shipping market. This should be offset in future periods as shipping activity increases. Transit System – The negative unrestricted net position of $961 is the result of operational costs exceeding revenues. It is anticipated that a sustained economic recovery will allow for this negative net position to be decreased over time. Note 15 Accounts Receivable

Accounts receivable for the General Fund are net of an allowance of $1,534 for Emergency Medical Service (EMS) billings, which are estimated to be uncollectible.

Accounts receivable for enterprise funds are net of an allowance for uncollectible accounts of $2,317 of which $1,226 relates to the Water and Sewer Fund, $334 relates to the Port Authority, and $757 relates to the Solid Waste Fund. Amounts actually written off during the year were $5,500 for EMS billings, $551 for water and sewer, $326 for solid waste, and various miscellaneous items.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 16 Interfund Transfers Transfers to General Fund from: Water and Sewer Fund $ 2,945 Nonmajor governmental funds 6,376

Internal Service Funds 125 Total 9,446

Transfers to Highway Special Revenue Fund from: Nonmajor governmental funds 2,588

Transfers to Impact Fees Capital Projects Fund from: Nonmajor governmental funds 9,903

Transfers to Nonmajor governmental funds from:

General Fund 11,949 Highway Special Revenue Fund 3,550 Impact Fees Capital Projects Fund 103 Solid Waste Fund 334 Nonmajor governmental funds 13,414 Internal Service Funds 597 Total 29,947

Transfers to Port Authority from: General Fund 447

Transfers to Nonmajor enterprise funds from: General Fund 32 Highway Special Revenue Fund 5,564 Solid Waste Fund 3,934 Nonmajor governmental funds 600

Total 10,130

Transfers to Internal Service Funds from: General Fund 120 Water and Sewer Fund 10 Total 130 Total interfund transfers $ 62,591

Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund as debt service payments become due and (3) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 17 Risk Management The County is exposed to various risks of loss related to tort; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. Under these programs the Self Insurance Fund provides coverage for up to a maximum of $750 for each worker's compensation occurrence, $500 per occurrence for each general liability claim and $100 for each property damage claim. The wind loss deductible is $100 except for Named Storm coverage which has a deductible of 5% per affected location, with a $250 minimum deductible. Flood coverage has a 5% deductible per affected location, with a $250 minimum deductible. The boiler and machinery policy has a $5 deductible per occurrence except for losses to air conditioning and refrigeration units. A $10 deductible applies to these types of losses. The policy for the County dam has a $100 deductible for all perils other than wind and flood damage, both of which require a 5% deductible of Total Insured Value with a $250 minimum deductible. The County purchases commercial insurance for claims in excess of coverage provided by the funds and for other risks or loss, with a $250 million limit on coverage for perils other than wind, and a $90 million limit on wind coverage. Settled claims have not exceeded this commercial coverage in any of the past three years. All funds of the County participate in the programs and make payments to the Self Insurance and Health Self Insurance Funds based on actuarial estimates of the amounts needed to pay prior and current year claims. The claims liability of $9,848 and $3,080, respectively, in the Self Insurance and the Health Self Insurance Funds reported at September 30, 2014, are based on the requirements of Governmental Accounting Standards Board Statement No. 10, which requires that a liability for claims be reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated.

Changes in the claims liability amounts (in thousands) in fiscal year 2013 and 2014 were:

Self Health SelfInsurance Insurance Total

Balance at October 1, 2012 $ 10,071 $ 5,230 $ 15,301 Current year claims and changes in estimates 2,989 33,530 36,519 Claim payments (2,979) (34,507) (37,486) Balance at September 30, 2013 10,081 4,253 14,334 Current year claims and changes in estimates 3,092 32,535 35,627 Claim payments (3,325) (33,708) (37,033) Balance at September 30, 2014 $ 9,848 $ 3,080 $ 12,928

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 18 Retirement Plan

The Florida legislature established the Florida Retirement System (FRS) in 1970. Substantially all full-time county employees are participants in the Florida Retirement System (the “System”), a multiple-employer, cost-sharing public retirement system. The System, which is controlled by the State Legislature and administered by the State of Florida, Department of Management Services, Division of Retirement, covers over 660,000 full-time employees of various governmental units within the State of Florida. The System provides for vesting of benefits based upon date of hire. Employees hired before July 1, 2011 are vested after 6 years of creditable service. For those hired on or after July 1, 2011 vesting of benefits occurs after the completion of 8 years of creditable service. Normal retirement benefits are available for employees hired before July 1, 2011 who retire at age 62 with 6 years of service or after 30 years if under age 62. For employees hired on or after July 1, 2011, normal retirement benefits are available at age 65 with 8 years of service or after 33 years, if under age 65. Early retirement is available for those vested 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. Average compensation is computed as the average of an individual's 5 highest years of earnings for employees hired before July 1, 2011 or 8 highest years of earnings for employees hired on or after July 1, 2011. Effective July 1, 2011, all FRS members, excluding Deferred Retirement Option Program (DROP) members and re-employed retirees are required to contribute 3% of their salary to the System on a pre-tax basis. Effective with the State fiscal year 2002, the State created a new retirement plan within the System; the Public Employee Optional Retirement Program (the “FRS Investment Plan”). Any regular member, not in DROP is eligible to participate in the FRS Investment Plan. Employer contributions are made to the FRS Investment Plan, which holds the contributions in individual investment accounts for each participating employee. The employee directs the investments in their account among the investment funds available through the Plan. These investment accounts vest to the employee after 1 year of service and may be withdrawn by the employee 90 days after termination or retirement from a participating employer in the System. Alternately, the funds may remain in the investment account until the employee reaches normal retirement age or some earlier date, at the employee’s choosing. Participating employees were required to contribute 3% to the FRS Investment Plan effective July 1, 2011.

The County has no responsibility to the System other than to make the periodic payments required by state statutes. The Florida Division of Retirement issues a publicly available financial report that includes financial statements and required supplementary information for the System. The report may be obtained by writing to Florida Division of Retirement, P. O. Box 9000, Tallahassee, FL 32315-9000.

Participating employer contributions are based upon statewide rates established by the State of Florida. These rates are applied to employee salaries as follows: regular employees, 7.37%, special risk employees, 19.82%, elected officials, 43.24% and senior management, 21.14%. The County’s contributions made during the years ended September 30 2014, 2013, and 2012 were $18,280, $13,680, and $11,616, respectively, equal to the actuarially determined contribution requirements for each year. The employee contributions were $4,273, $4,087, and $3,734 for fiscal years 2014, 2013, and 2012, respectively. Note 19 Post Employment Benefits Other Than Pension

Plan Description - The Manatee County Board of County Commissioners (the “BOCC”) administers a single-employer defined benefit healthcare plan (the “Plan”). In accordance with Section 112.0801 of the Florida Statutes, because Manatee County provides a medical plan to active employees of the County and their eligible dependents, the County is also required to provide retirees with the opportunity to participate in this Plan. The Plan provides health care benefits including medical coverage, prescription drug benefits, dental benefits and life insurance coverage to both active and eligible retired employees. The Plan does not issue a publicly available financial report.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 19 Post Employment Benefits Other Than Pension - Continued

The BOCC may amend the plan design, with changes to the benefits, premiums and/or levels of participant contribution at any time, by providing thirty days written notice to participants. In an open session, on at least an annual basis and prior to the annual enrollment process, the BOCC approves the rates for the coming calendar year for the employee retiree and County contributions.

Eligibility for participation in the Plan is limited to full time employees of the County and of the Constitutional Officers, employees who are active participants in the Plan at the time of retirement, who retire and are either vested with the Florida Retirement System (FRS), are vested in the FRS and are age 62, have 30 years of creditable service before age 62, or meet alternative criteria if disabled or a member of a Special Risk Class. Surviving spouses or dependents of participating retirees may continue in the plan if eligibility criteria specific to those classes are met.

At September 30, 2014 there were no terminated employees entitled to benefits but not yet receiving

them. The membership (expressed in whole numbers) of the County’s medical plan consisted of:

Active employees 2,817

Retirees and beneficiaries currently receiving benefits 729

Total Membership 3,546

Funding Policy - Contribution rates are determined on an annual basis by the BOCC, for employees retiring

after ten years of service. An additional contribution is provided to participants aged 65 and over that enroll in Medicare Part B. Retirees and spouses over age 65 and enrolled in Medicare Part A and B may elect to remain in the County’s Plan, or enroll in a Medicare Supplement and Part D Prescription Drug program through an outside provider. The contribution amount can be changed by the County at any time, with 30 days written notice to participating retirees. Under the current Plan, for employees hired after September 30, 2005, participation by retirees and their dependents in the county health plan and subsidization of the premium rate for retirees will be limited to that required by law. The retirees pay the entire cost for dental coverage. Term life insurance coverage of one thousand dollars for retirees is fully paid by the County. Retirees electing additional coverage pay the entire cost at age graded rates.

The 2014 premium contributions for medical coverage and retiree counts (expressed in whole numbers) at September 30, 2014 were:

County Provided Ret iree

Class of Employees Contribut ion Range Count

Retirees with more than 10 years of service 27% 243

Spouses or survivors of retirees with more than 10 years of service 0% - 18% 85

Retirees with more than 6 years, up to 10 years of service 0% 7

Spouses or survivors of retirees with more than 6 years, up to 10 years of service 0% 3

Retirees in Senior Care Plans with private insurers 28% - 50% 351

Spouses or survivors of retirees in Senior Care Plans with private insurers 0% 40

729

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 19 Post Employment Benefits Other Than Pension - Continued

For the fiscal year 2014, the County contributed $2,631 to the plan via claims paid by its self insurance fund on a pay-as-you-go basis, and allocations of administrative expenses, stop loss coverage premiums, and a decrease in the incurred but not recorded (IBNR) costs, net of retiree payments of $2,938. The County purchased individual stop-loss coverage for its health insurance plan in 2014. Payments received from the federal government under Medicare Part D are recognized as revenue, rather than as a reduction of the OPEB cost. Although the County did not transfer any amounts into the Self Insurance Internal Service Fund in fiscal year 2014 as additional internal funding for future period post-retirement costs, the $10,070 transferred in prior fiscal years, and related interest earnings, is considered a County asset, and is not accounted for as an OPEB contribution. A qualifying trust or agency fund has not been authorized by the County.

Annual OPEB Costs and Net OPEB Obligation - The County’s annual other postemployment benefit

(OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal costs each year and amortize any unfunded liabilities over a period of thirty years, the maximum allowed.

The following table shows under the current plan provisions, the actuarially determined components

of the County’s unfunded annual OPEB cost, the contributions to the plan net of retiree payments, and the changes in the County’s net OPEB obligation (NOO) to the plan for the prior two and current fiscal years.

FY 2012 FY 2013 FY 2014

Annual required contribution (ARC) $ 14,234 $ 15,889 $ 11,230 Plus interest on net OPEB contribution 1,872 2,371 2,515 Less NOO Amortization (1,987) (2,611) (3,276) Annual OPEB Cost (AOC) 14,119 15,649 10,469 Contributions made, net (3,847) (2,206) (2,631) Increase in net OPEB obligation 10,272 13,443 7,838 Net OPEB obligation - beginning of year 46,706 56,978 70,421 Net OPEB obligation - end of year $ 56,978 $ 70,421 $ 78,259

Percentage of AOC contributed 27.24% 14.10% 25.13%

No trust or agency fund has been established for the plan. There were no adjustments to the

annual required contribution or interest earnings.

Funded Status and Funding Progress - At September 30, 2014, the accrued actuarial liability for benefits was $112.2 million, all of which was unfunded. The covered payroll (annual payroll of active employees covered by the plan) was $140.8 million and the ratio of the unfunded actuarial liability to covered payroll was 79.68%. The schedule of Required Supplemental Information (RSI) immediately following the financial statement notes presents multi-year trend information relative to the actuarial accrued liability and funding progress.

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 19 Post Employment Benefits Other Than Pension - Continued

Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and

assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statements, presents trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits.

Projections of benefits are based on the types of benefits provided under the substantive plan at the time of each valuation and on the pattern of sharing of benefit costs between the employer and plan members to that point. Actuarial calculations reflect a long-term perspective, and, consistent with that perspective, actuarial methods and assumptions used include techniques that are designed to reduce short-term volatility in actuarial accrued liabilities.

Actuarial Methods and Assumptions – Fiscal year 2014 plan expense is calculated from the valuation

dated August 28, 2013 for fiscal year 2014. That report was prepared using generally accepted actuarial principles and practices, and relied on unaudited census data as of July 1, 2013, and medical claims data reported by the County. The valuation used the projected unit credit actuarial method, with linear pro-ration to assumed benefit commencement. Actual coverage, cost sharing and benefits at the time of the valuation were used with coverage assumed to continue into retirement. Demographic assumptions mirror those used for the various Florida Retirement System pension funds. The actuarial economic assumptions include:

Rate of inflation 2.8% Investment return 3.5% Projected salary increases per annum 3.5% Post retirement benefit decreases (2.0%)

Healthcare cost trend is based on the Society of Actuaries Long Term Medical Trend Model. Their 2013 rate of 6.0% decreases gradually. The pre Medicare rate in 2050 is 5.29%. The post Medicare rate in 2050 is 4.86%. The ultimate rate is attained in 2080. The ultimate pre Medicare rate is 4.51%. The ultimate post Medicare rate is 4.34%.

The assumptions for an unfunded plan are that the benefits continue to be funded on a pay-as-you-

go basis. The unfunded accrued actuarial liability is amortized over thirty years on a closed basis, as a level percentage of the projected payroll. Premium assistance amounts are assumed to increase at 5% per annum. Note 20 Litigation The County is a defendant in various lawsuits and is involved in other disputes wherein substantial amounts are claimed. In the opinion of the County, these suits and claims should not result in judgments or settlements which, in aggregate, would have a material adverse effect on the County’s financial condition beyond what is recorded in the accompanying financial statements (see Note 17).

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Manatee County, Florida Notes to Financial Statements

September 30, 2014 (Amounts expressed in thousands)

Note 21 Commitments A. Grant Programs

The County participates in a number of federally assisted grant programs, principally from the Department of Transportation, Department of Health and Human Services, Department of Housing and Urban Development and the Department of Homeland Security. These programs are subject to financial and compliance audits by the grantors or their representatives. B. Contract Commitments Manatee County has open construction contracts totaling approximately $41,801 for the following funds:

Governmental Act ivit ies: Impact Fee Capital Projects Fund $ 1,969 Nonmajor governmental activities 17,987 Total governmental activities 19,956

Business-type Act ivit ies: Water and sewer 21,068 Solid waste 249 Nonmajor enterprise funds 528 Total business-type activities 21,845 Total contract commitments $ 41,801

C. Encumbrance Commitment Encumbrances represent commitments for future expenditures, based on purchase orders or contracts issued, where the goods or services have been ordered but not received. Significant encumbrances for the governmental funds do not include construction contracts, as they are included as contract commitments in Part B above. Manatee County has the following significant encumbrances as of September 30, 2014:

EncumbranceGovernmental Act ivit ies: Highway $ 2,562 Impact Fee Capital Projects Fund 1,295 Nonmajor governmental activities 1,522 Total governmental activities $ 5,379

D. Arbitrage Rebate In accordance with the Tax Reform Act of 1986, any interest earnings on borrowed construction funds in excess of the interest costs are required to be rebated to the federal government. The County has estimated that the liability in its Governmental Activities to be $40. These amounts have been reflected as a reduction of interest income.

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REQUIRED SUPPLEMENTARY INFORMATION

ActuarialAccrued UAAL as a

Actuarial Actuarial Liability (AAL) Percentage ofFiscal Valuation Value of Projected Unfunded Funded Covered CoveredYear Date Assets Unit Credit AAL Ratio Payroll Payroll

2008 10/1/2007 $ - $ 150,496 $ 150,496 0.00% $ 147,974 101.70% (1)

2009 10/1/2008 - 162,625 162,625 0.00% 145,790 111.55%2010 10/1/2009 - 141,138 141,138 0.00% 135,059 104.50%2011 10/1/2010 - 151,612 151,612 0.00% 130,868 115.85%2012 10/1/2011 - 147,042 147,042 0.00% 129,554 113.50%2013 10/1/2012 - 159,882 159,882 0.00% 134,873 118.54%2014 10/1/2013 - 112,179 112,179 0.00% 140,779 79.68%

Annual OPEB PercentageFiscal Employer Required of ARC

Year Ended Contributions Contribution (ARC) Contributed9/30/2008 $ 2,566 $ 14,346 17.89%9/30/2009 3,304 15,427 21.42%9/30/2010 2,533 13,624 18.59%9/30/2011 2,894 14,611 19.81%9/30/2012 3,847 14,234 27.03%9/30/2013 2,206 15,889 13.88%9/30/2014 2,631 11,230 23.43%

(1) initial year of plan disclosure, no prior data available

Schedule of Employer Contributions

Schedule of Funding Progress

(Amounts expressed in thousands)

Required Supplementary Information for the Current and Six Preceding YearsManatee County, Florida

for the Other Post Employment Benefits (OPEB) Other Than Pension

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Manatee County

Florida

Southern Magnolia, Magnolia grandiflora

Photos: Cathy Slusser

The Southern Magnolia is a large, broad-leafed evergreen tree with a straight trunk and spreading branches that form a dense, pyramidal crown. The evergreen leaves are leathery and dark glossy green above with rusty, velveteen undersides. Its showy white flowers have a pleasant fragrance and appear throughout the spring and summer. The fruits are reddish-brown conelike structures with bright red kidney shaped seeds that hang from little threads when fully mature in autumn.

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Nonmajor Governmental Funds

Special Revenue Funds Library

To account for the activities of the Manatee County Public Library System. Tourist Development

To account for tourist development tax revenue. This tax funds the County's Tourist Information Center and its tourism promotion campaign.

Children's Services Tax To account for the taxes received for new or expanded children’s service programs.

Miscellaneous Special Revenue

To account for revenues and expenditures related to providing a variety of County services. Unincorporated Services

To account for the operations of the County's Planning and Building Departments and other services provided only to the unincorporated areas of the County.

911 Enhancements

To account for the collection and use of the 911 tax. Metropolitan Planning

To account for the revenues and expenditures of transportation planning. Assessment Revenue

To account for the revenue received from road paving and dredging assessments. Impact Fees

To account for the revenues and expenditures relating to impact fees collected for transportation, emergency services, parks and recreation and law enforcement.

Federal and State Grants

To account for the operating revenues and expenditures for certain federal and state grants. Law Enforcement

To account for the receipt and use of specific fees designated for the criminal justice area. State Housing Initiative Program (SHIP) - Affordable Housing

To account for the receipt and use of funding designated for use in providing affordable housing.

Health Care

To account for the portion of the interest earned on the proceeds of the sale of Manatee Memorial Hospital, which is used to finance indigent care and other health-related projects as approved by the Board of County Commissioners.

Community Redevelopment

To account for funds used for the economic redevelopment of certain designated areas within the County.

Building and Permitting

To account for the revenues and expenditures of building and permitting.

Nonmajor Governmental Funds

Debt Service Funds General Obligation Bonds

To account for the accumulation of resources for and payment of interest and principal on the County's general obligation bonds.

Revenue Improvement Bonds

To account for the accumulation of resources for and payment of interest and principal on the County’s revenue improvement bond issues.

Revenue Refunding Bonds

To account for the accumulation of resources for and payment of interest and principal on the County’s revenue refunding bond issues.

Revenue Refunding and Improvement Bonds

To account for the accumulation of resources for and payment of interest and principal on the County’s revenue refunding and improvement bond issues.

Revenue Improvement Note To account for the accumulation of resources for and payment of interest and principal on the County’s revenue improvement note.

Capital Project Funds Parks and Recreation

To account for capital projects involving Manatee County's parks and beaches.

Transportation To account for certain transportation capital improvements.

Gas Tax To account for capital projects financed by gas taxes.

Capital Improvements

To account for various projects including the County’s court facility improvements and other general county improvements.

Community Redevelopment

To account for capital projects related to the economic redevelopment of certain designated areas within the County.

Special

Tourist Children'sLibrary Development Services Tax

Assets

Cash and cash equivalents $ 2,206 $ 10,658 $ 2,888 Accounts receivable (net) - 1 - Interest receivable 2 6 3 Due from other funds - - - Assessments receivable - - - Due from other governmental units - - 14 Prepaid items - 10 - Deposits - - - Total assets $ 2,208 $ 10,675 $ 2,905

Liabilities and Fund Balances

Liabilities: Accounts payable $ 48 $ 623 $ 771 Wages and benefits payable 173 44 16 Due to other funds - - - Due to other governmental units - - - Contracts and retainages payable - - - Performance bonds payable - - - Unearned revenue 6 24 - Advance from other funds - 3,282 - Total liabilities 227 3,973 787 Deferred inflows of resources: Unavailable revenue - - -

Fund balances: Non-spendable - 10 - Restricted 507 5,818 - Committed - 357 - Assigned 1,474 517 2,118 Total fund balances 1,981 6,702 2,118 Total liabilities, deferred inflows of resources and fund balances $ 2,208 $ 10,675 $ 2,905

Manatee County, FloridaCombining Balance Sheet

Nonmajor Governmental FundsSeptember 30, 2014

(Amounts expressed in thousands)

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Revenue Funds

Special Unincorporated 911 Metropolitan Assessment Revenue Services Enhancements Planning Revenue

$ 10,067 $ 11,875 $ 951 $ - $ 2,548 1 12 - - - 4 8 - - 43

- - - - - - - - - 424

2 - 396 549 3 20 5 - - - - - - - -

$ 10,094 $ 11,900 $ 1,347 $ 549 $ 3,018

$ 62 $ 229 $ - $ 62 $ 6 317 260 60 50 - 77 - - 405 -

486 16 - - - - - - - - - 10 - - - - - - 1 - 734 - - - -

1,676 515 60 518 6

73 - - - 424

20 5 - - - 8,188 - 1,287 - -

- 11,380 - - 2,588 137 - - 31 -

8,345 11,385 1,287 31 2,588

$ 10,094 $ 11,900 $ 1,347 $ 549 $ 3,018

(Continued)

Miscellaneous

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Impact Federal and LawFees State Grants Enforcement

Assets

Cash and cash equivalents $ 20,019 $ 1,703 $ 2,193 Accounts receivable (net) - - 54 Interest receivable 11 1 1 Due from other funds - 400 - Assessments receivable - - - Due from other governmental units - 1,019 - Prepaid items - - - Deposits - - - Total assets $ 20,030 $ 3,123 $ 2,248

Liabilities and Fund Balances

Liabilities: Accounts payable $ 23 $ 380 $ 7 Wages and benefits payable 4 47 - Due to other funds - 351 - Due to other governmental units - - - Contracts and retainages payable - 161 - Performance bonds payable - - - Unearned revenue - 800 - Advance from other funds - - - Total liabilities 27 1,739 7 Deferred inflows of resources: Unavailable revenue - - -

Fund balances: Non-spendable - - - Restricted 20,003 - 2,218 Committed - - - Assigned - 1,384 23 Total fund balances 20,003 1,384 2,241 Total liabilities, deferred inflows of resources and fund balances $ 20,030 $ 3,123 $ 2,248

Manatee County, FloridaCombining Balance Sheet

Nonmajor Governmental Funds - ContinuedSeptember 30, 2014

(Amounts expressed in thousands)

Special

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Revenue Funds

Affordable Health Community Building and Housing Care Redevelopment Permitting Total

$ 1,074 $ 9,194 $ 3,584 $ 14,836 $ 93,796 - - - 3 71 - 6 - 8 93 - - - - 400 - - - - 424 - - - - 1,983 - - - 1 36 - - - - -

$ 1,074 $ 9,200 $ 3,584 $ 14,848 $ 96,803

$ - $ 1,685 $ 20 $ 132 $ 4,048

5 - 7 183 1,166 - - - - 833 - - - 139 641

8 - - - 169 - - - - 10 888 - - - 1,719 - - - - 4,016 901 1,685 27 454 12,602

- - - - 497

- - - 1 36 173 7,515 3,557 14,237 63,503 - - - - 14,325 - - - 156 5,840 173 7,515 3,557 14,394 83,704

$ 1,074 $ 9,200 $ 3,584 $ 14,848 $ 96,803

(Continued)

-82-

General Revenue RevenueObligation Refunding

Bonds Bonds BondsAssets

Cash and cash equivalents $ 644 $ 2 $ 1 Accounts receivable (net) - - - Interest receivable 2 2 - Due from other funds - - - Assessments receivable - - - Due from other governmental units 1 - - Prepaid items - - - Deposits - - - Total assets $ 647 $ 4 $ 1

Liabilities and Fund Balances

Liabilities: Accounts payable $ - $ - $ - Wages and benefits payable - - - Due to other funds - - - Due to other governmental units - - - Contracts and retainages payable - - - Performance bonds payable - - - Deposits - - - Advance from other funds - - - Total liabilities - - - Deferred inflows of resources: Unavailable revenue - - -

Fund balances: Non-spendable - - - Restricted 647 4 1 Committed - - - Assigned - - - Total fund balances 647 4 1 Total liabilities, deferred inflows of resources and fund balances $ 647 $ 4 $ 1

Debt

Improvement

(Amounts expressed in thousands)

Manatee County, FloridaCombining Balance Sheet

Nonmajor Governmental Funds - ContinuedSeptember 30, 2014

-83-

Service Funds

RevenueRefunding and RevenueImprovement Improvement

Bonds Note Total

$ 2 $ 1 $ 650 - - -

2 - 6 - - - - - - - - 1 - - - - - -

$ 4 $ 1 $ 657

$ - $ 1 $ 1 - - - - - - - - - - - - - - - - - - - - - - 1 1

- - -

- - - 4 - 656

- - - - - -

4 - 656

$ 4 $ 1 $ 657

(Continued)

-84-

Capital

Parks andRecreation Transportation Gas Tax

Assets

Cash and cash equivalents $ 6,448 $ 4,270 $ 27,348 Accounts receivable (net) - - - Interest receivable 4 3 15 Due from other funds - - - Assessments receivable - - - Due from other governmental units 4,928 403 94 Prepaid items - - - Deposits 1,974 15 - Total assets $ 13,354 $ 4,691 $ 27,457

Liabilities and Fund Balances

Liabilities: Accounts payable $ 134 $ 4 $ 32 Wages and benefits payable - - - Due to other funds - - - Due to other governmental units 204 - - Contracts and retainages payable - 245 573 Performance bonds payable - - - Unearned revenue - - - Advance from other funds 7,388 - - Total liabilities 7,726 249 605 Deferred inflows of resources: Unavailable revenue - - -

Fund balances: Non-spendable 1,974 15 - Restricted 1,637 4,426 26,852 Committed - - - Assigned 2,017 1 - Total fund balances 5,628 4,442 26,852 Total liabilities, deferred inflows of resources and fund balances $ 13,354 $ 4,691 $ 27,457

Manatee County, FloridaCombining Balance Sheet

Nonmajor Governmental Funds - ContinuedSeptember 30, 2014

(Amounts expressed in thousands)

-85-

Project Funds

TotalNonmajor

Capital Community GovernmentalImprovements Redevelopment Total Funds

$ 27,192 $ - $ 65,258 $ 159,704 7 2 9 80

16 - 38 137 - - - 400 - - - 424 - - 5,425 7,409 - - - 36 - - 1,989 1,989

$ 27,215 $ 2 $ 72,719 $ 170,179

$ 497 $ - $ 667 $ 4,716 - - - 1,166 - - - 833 - - 204 845

2,321 - 3,139 3,308 - - - 10 - - - 1,719

7,830 - 15,218 19,234 10,648 - 19,228 31,831

- - - 497

- - 1,989 2,025 10,383 2 43,300 107,459

- - - 14,325 6,184 - 8,202 14,042

16,567 2 53,491 137,851

$ 27,215 $ 2 $ 72,719 $ 170,179

-86-

Tourist Children'sLibrary Development Services Tax

Revenues: Taxes $ 5,798 $ 10,441 $ 7,777 Licenses and permits - - - Intergovernmental 175 - 67 Charges for services 25 - - Fines and forfeitures 129 - - Interest income 11 30 14 Assessments - - - Contributions 34 20 - Miscellaneous - 66 - Total revenues 6,172 10,557 7,858

Expenditures: Current: General government - - - Public safety - - - Physical environment - 889 - Transportation - - - Economic environment - 5,363 - Human services - - 7,705 Culture and recreation 6,566 - - Debt service - 19 - Total expenditures 6,566 6,271 7,705

Excess (deficiency) of revenues over expenditures (394) 4,286 153

Other financing sources (uses): Transfers from other funds 150 - 838 Transfers to other funds (61) (1,880) - Bond proceeds - - - Refunding bonds issued - - - Total other financing sources (uses) 89 (1,880) 838

Net change in fund balances (305) 2,406 991 Fund balances, October 1 2,286 4,296 1,127 Fund balances, September 30 $ 1,981 $ 6,702 $ 2,118

Special

(Amounts expressed in thousands)

Manatee County, FloridaCombining Statement of Revenues, Expenditures

and Changes in Fund BalancesNonmajor Governmental Funds

For the Fiscal Year Ended September 30, 2014

-87-

Revenue Funds

MiscellaneousSpecial Unincorporated 911 Metropolitan Assessment

Revenue Services Enhancements Planning Revenue

$ - $ 10,252 $ 1,617 $ - $ 81 - 2,970 - - - 790 - - 1,211 -

2,114 771 - - 67 5,768 1,645 - - -

23 42 2 - 43 - - - - 173 - 9 - - - 16 50 - - -

8,711 15,739 1,619 1,211 364

7,473 2,568 - - - - 3,249 1,443 - - 737 430 - 164 54 - 809 - 1,065 81 - 1,526 - - - - - - - - 96 - - - - 4 - - - -

8,310 8,582 1,443 1,229 135

401 7,157 176 (18) 229

164 - - 20 1 (3,063) (4,198) - - (26)

- - - - - - - - - -

(2,899) (4,198) - 20 (25)

(2,498) 2,959 176 2 204 10,843 8,426 1,111 29 2,384

$ 8,345 $ 11,385 $ 1,287 $ 31 $ 2,588

(Continued)

-88-

Special

Impact Federal and LawFees State Grants Enforcement

Revenues: Taxes $ - $ - $ - Licenses and permits 16,869 - - Intergovernmental - 9,525 - Charges for services - 30 820 Fines and forfeitures - - 438 Interest income 44 5 3 Assessments - - - Contributions - 9 - Miscellaneous 164 - - Total revenues 17,077 9,569 1,261

Expenditures: Current: General government 230 141 - Public safety - 669 729 Physical environment - 44 - Transportation - 623 - Economic environment 32 2,393 - Human services - 1,607 - Culture and recreation - 17 - Debt service 12 - - Total expenditures 274 5,494 729

Excess (deficiency) of revenues over expenditures 16,803 4,075 532

Other financing sources (uses): Transfers from other funds 313 118 - Transfers to other funds (12,152) (4,184) (150) Bond proceeds - - - Refunding bonds issued - - - Total other financing sources (uses) (11,839) (4,066) (150)

Net change in fund balances 4,964 9 382 Fund balances, October 1 15,039 1,375 1,859 Fund balances, September 30 $ 20,003 $ 1,384 $ 2,241

Combining Statement of Revenues, ExpendituresManatee County, Florida

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2014Nonmajor Governmental Funds - Continued

and Changes in Fund Balances

-89-

Revenue Funds

Affordable Health Community Building andHousing Care Redevelopment Permitting Total

$ - $ - $ - $ - $ 35,966 - - - 7,546 27,385 289 - - - 12,057 - - - 36 3,863 - - - 66 8,046

3 49 3 43 315 - - - - 173

9 - - - 81 244 - - 350 890 545 49 3 8,041 88,776

- - - - 10,412 - - - 5,490 11,580 - - - - 2,318 - - - - 2,578 473 - 613 - 10,400 - 8,901 - - 18,213 - - - - 6,679 - - - - 35 473 8,901 613 5,490 62,215

72 (8,852) (610) 2,551 26,561

- - 3,289 488 5,381 - (100) (14) - (25,828) - - - - - - - - - - - (100) 3,275 488 (20,447)

72 (8,952) 2,665 3,039 6,114 101 16,467 892 11,355 77,590

$ 173 $ 7,515 $ 3,557 $ 14,394 $ 83,704

(Continued)

-90-

General Revenue RevenueObligation Refunding

Bonds Bonds Bonds

Revenues: Taxes $ 3,111 $ - $ - Licenses and permits - - - Intergovernmental - - 1,064 Charges for services - - - Fines and forfeitures - - - Interest income 8 8 2 Assessments - - - Contributions - - - Miscellaneous - - - Total revenues 3,119 8 1,066

Expenditures: Current: General government - - - Public safety - - - Physical environment - - - Transportation - - - Economic environment - - - Human services - - - Culture and recreation - - - Debt service 10,087 6,114 2,568 Total expenditures 10,087 6,114 2,568

Excess (deficiency) of revenues over expenditures (6,968) (6,106) (1,502)

Other financing sources (uses): Transfers from other funds - 6,104 1,503 Transfers to other funds - - - Bond proceeds - - - Refunding bonds issued 7,275 - - Total other financing sources (uses) 7,275 6,104 1,503

Net change in fund balances 307 (2) 1 Fund balances, October 1 340 6 - Fund balances, September 30 $ 647 $ 4 $ 1

Improvement

and Changes in Fund BalancesCombining Statement of Revenues, Expenditures

Manatee County, Florida

Debt

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2014Nonmajor Governmental Funds - Continued

-91-

Service Funds

RevenueRefunding and RevenueImprovement Improvement

Bonds Note Total

$ - $ - $ 3,111 - - - - - 1,064 - - - - - -

7 - 25 - - - - - - - - -

7 - 4,200

- - - - - - - - - - - - - - - - - - - - -

6,659 221 25,649 6,659 221 25,649

(6,652) (221) (21,449)

6,652 221 14,480 - - - - - - - - 7,275

6,652 221 21,755

- - 306 4 - 350

$ 4 $ - $ 656

(Continued)

-92-

Capital

Parks and Recreation Transportation

Revenues: Taxes $ - $ - $ - Licenses and permits - - - Intergovernmental 4,809 1,566 398 Charges for services - - - Fines and forfeitures - - - Interest income 32 16 86 Assessments - - - Contributions 153 - - Miscellaneous - - - Total revenues 4,994 1,582 484

Expenditures: Current: General government - - - Public safety - - - Physical environment 9,276 - - Transportation - 3,475 3,770 Economic environment - - - Human services - - - Culture and recreation 1,536 - 49 Debt service 36 - - Total expenditures 10,848 3,475 3,819

Excess (deficiency) of revenues over expenditures (5,854) (1,893) (3,335)

Other financing sources (uses): Transfers from other funds 4,205 - 3,550 Transfers to other funds (50) (1) (3,545) Bond proceeds - - - Refunding bonds issued - - - Total other financing sources (uses) 4,155 (1) 5

Net change in fund balances (1,699) (1,894) (3,330) Fund balances, October 1 7,327 6,336 30,182 Fund balances, September 30 $ 5,628 $ 4,442 $ 26,852

Gas Tax

Manatee County, Florida

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2014Nonmajor Governmental Funds - Continued

and Changes in Fund BalancesCombining Statement of Revenues, Expenditures

-93-

TotalNonmajor

Capital Community GovernmentalImprovements Redevelopment Total Funds

$ - $ - $ - $ 39,077 - - - 27,385 - - 6,773 19,894 - - - 3,863 - - - 8,046 77 9 220 560 - - - 173 - - 153 234 - - - 890 77 9 7,146 100,122

4,130 - 4,130 14,542 5,260 14 5,274 16,854

- - 9,276 11,594 1,046 - 8,291 10,869

- - - 10,400 - - - 18,213 40 - 1,625 8,304 58 - 94 25,778

10,534 14 28,690 116,554

(10,457) (5) (21,544) (16,432)

2,317 14 10,086 29,947 (562) (2,895) (7,053) (32,881)

6,482 - 6,482 6,482 - - - 7,275

8,237 (2,881) 9,515 10,823

(2,220) (2,886) (12,029) (5,609) 18,787 2,888 65,520 143,460

$ 16,567 $ 2 $ 53,491 $ 137,851

Project Funds

-94-

Original FinalBudget Budget Actual

Revenues: Taxes $ 5,699 $ 5,699 $ 5,798 $ 99 Intergovernmental 159 174 175 1 Charges for services 14 14 25 11 Fines and forfeitures 133 133 129 (4) Interest income 10 10 11 1 Contributions 35 36 34 (2) Total revenues 6,050 6,066 6,172 106

Expenditures: Current: Culture and recreation 6,561 7,026 6,566 460

Excess (deficiency) of revenues over expenditures (511) (960) (394) 566

Other financing sources (uses): Reserved for contingencies (101) - - - Transfers from other funds - 150 150 - Transfers to other funds - (61) (61) - Total other financing sources (uses) (101) 89 89 -

Net change in fund balances (612) (871) (305) 566 Fund balances, October 1 2,286 2,286 2,286 - Fund balances, September 30 $ 1,674 $ 1,415 $ 1,981 $ 566

Manatee County, FloridaLibrary Special Revenue Fund

Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Variance withFinal Budget

Positive(Negative)

(Amounts expressed in thousands)

-95-

Manatee County, FloridaTourist Development Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original FinalBudget Budget Actual

Revenues: Taxes $ 7,893 $ 7,893 $ 10,441 $ 2,548 Interest income 43 43 30 (13) Contributions - 20 20 - Miscellaneous 52 52 66 14 Total revenues 7,988 8,008 10,557 2,549

Expenditures: Current: Physical environment 849 1,041 889 152 Economic environment 5,475 7,211 5,363 1,848 Debt service 17 19 19 - Total expenditures 6,341 8,271 6,271 2,000

Excess (deficiency) of revenues over expenditures 1,647 (263) 4,286 4,549

Other financing uses: Reserved for contingencies (672) (650) - 650 Transfers to other funds (1,100) (2,380) (1,880) 500 Total other financing uses (1,772) (3,030) (1,880) 1,150

Net change in fund balances (125) (3,293) 2,406 5,699 Fund balances, October 1 4,296 4,296 4,296 - Fund balances, September 30 $ 4,171 $ 1,003 $ 6,702 $ 5,699

Variance withFinal Budget

Positive(Negative)

(Amounts expressed in thousands)

-96-

Manatee County, FloridaChildren's Services Tax Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original FinalBudget Budget Actual

Revenues: Taxes $ 7,644 $ 7,644 $ 7,777 $ 133 Intergovernmental 75 80 67 (13) Interest income 3 3 14 11 Total revenues 7,722 7,727 7,858 131

Expenditures: Current: Human services 7,850 7,907 7,705 202

Excess (deficiency) of revenues over expenditures (128) (180) 153 333

Other financing sources (uses): Reserved for contingencies (13) (13) - 13 Transfers from other funds 838 838 838 - Total other financing sources (uses) 825 825 838 13

Net change in fund balances 697 645 991 346 Fund balances, October 1 1,127 1,127 1,127 - Fund balances, September 30 $ 1,824 $ 1,772 $ 2,118 $ 346

Variance withFinal Budget

Positive(Negative)

(Amounts expressed in thousands)

-97-

Manatee County, FloridaMiscellaneous Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original FinalBudget Budget Actual

Revenues: Intergovernmental $ 1,093 $ 1,093 $ 790 $ (303) Charges for services 2,285 2,335 2,114 (221) Fines and forfeitures 5,535 5,535 5,768 233 Interest income 25 25 23 (2) Miscellaneous 2 2 16 14 Total revenues 8,940 8,990 8,711 (279)

Expenditures: Current: General government Clerk of the Circuit Court 7,123 7,484 6,947 537 County administration 16 16 8 8 Court costs 613 639 518 121 Total general government 7,752 8,139 7,473 666

Public safety Community services 5 5 - 5

Physical environment Community services - 8 5 3 Parks and natural resources 694 1,264 732 532 Total physical environment 694 1,272 737 535

Culture and recreation Parks and natural resources 333 563 96 467

Debt service - 4 4 -

Total expenditures 8,784 9,983 8,310 1,673

Excess (deficiency) of revenues over expenditures 156 (993) 401 1,394

Other financing sources (uses): Reserved for contingencies (456) (177) - 177 Transfers from other funds 306 306 164 (142) Transfers to other funds (204) (3,129) (3,063) 66 Total other financing sources (uses) (354) (3,000) (2,899) 101

Net change in fund balances (198) (3,993) (2,498) 1,495 Fund balances, October 1 10,843 10,843 10,843 - Fund balances, September 30 $ 10,645 $ 6,850 $ 8,345 $ 1,495

Variance withFinal Budget

(Negative)Positive

(Amounts expressed in thousands)

-98-

Original FinalBudget Budget Actual

Revenues: Taxes $ 10,078 $ 10,078 $ 10,252 $ 174 Licenses and permits 2,061 2,061 2,970 909 Charges for services 435 435 771 336 Fines and forfeitures 597 597 1,645 1,048 Interest income 48 48 42 (6) Contributions - - 9 9 Miscellaneous 43 43 50 7 Total revenues 13,262 13,262 15,739 2,477

Expenditures: Current: General government Building and development service 2,320 2,831 2,568 263 Public safety Building and development service 1,827 1,976 1,823 153 Public works 1,073 1,612 1,426 186 Total public safety 2,900 3,588 3,249 339 Physical environment Building and development service 382 479 430 49 Transportation Public works 903 986 809 177 Economic environment Neighborhood services 2,010 2,271 1,526 745 Human services Community services 1 1 - 1 Total expenditures 8,516 10,156 8,582 1,574

Excess (deficiency) of revenues over expenditures 4,746 3,106 7,157 4,051

Other financing uses: Reserve for contingencies (139) (7) - 7 Transfers to other funds (4,199) (4,199) (4,198) 1 Total other financing uses (4,338) (4,206) (4,198) 8

Net change in fund balances 408 (1,100) 2,959 4,059 Fund balances, October 1 8,426 8,426 8,426 - Fund balances, September 30 $ 8,834 $ 7,326 $ 11,385 $ 4,059

Final Budget

(Negative)Positive

For the Fiscal Year Ended September 30, 2014

Manatee County, FloridaUnincorporated Services Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

Variance with

(Amounts expressed in thousands)

-99-

Original FinalBudget Budget Actual

Revenues: Taxes $ 1,434 $ 1,434 $ 1,617 $ 183 Interest income 1 1 2 1 Total revenues 1,435 1,435 1,619 184

Expenditures: Current: Public safety 1,418 1,635 1,443 192

Excess (deficiency) of revenues over expenditures 17 (200) 176 376

Other financing uses: Reserved for contingencies (48) - - -

Net change in fund balances (31) (200) 176 376 Fund balances, October 1 1,111 1,111 1,111 - Fund balances, September 30 $ 1,080 $ 911 $ 1,287 $ 376

(Amounts expressed in thousands)

(Negative)

Variance withFinal Budget

Positive

Manatee County, Florida911 Enhancements Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

-100-

Fund Balances - Budget and ActualFor the Fiscal Year Ended September 30, 2014

Original FinalBudget Budget Actual

Revenues: Intergovernmental $ 2,377 $ 2,377 $ 1,211 $ (1,166)

Expenditures: Current: Physical Environment 164 164 164 - Transportation 1,422 1,422 1,065 357 Total expenditures 1,586 1,586 1,229 357

Excess (deficiency) of revenues over expenditures 791 791 (18) (809)

Other financing sources: Transfers from other funds 30 30 20 (10)

Net change in fund balances 821 821 2 (819) Fund balances, October 1 29 29 29 - Fund balances, September 30 $ 850 $ 850 $ 31 $ (819)

Positive(Negative)

Final Budget

Manatee County, FloridaMetropolitan Planning Special Revenue Fund

Schedule of Revenues, Expenditures and Changes in

(Amounts expressed in thousands)

Variance with

-101-

Manatee County, FloridaAssessment Revenue Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original FinalBudget Budget Actual

Revenues: Taxes $ 80 $ 80 $ 81 $ 1 Charges for services 67 67 67 - Interest income 10 10 43 33 Assessments 109 109 173 64 Total revenues 266 266 364 98

Expenditures: Current: Physical environment 131 131 54 77 Transportation 84 88 81 7 Debt service 50 50 - 50 Total expenditures 265 269 135 134

Excess (deficiency) of revenues over expenditures 1 (3) 229 232

Other financing sources (uses): Transfers from other funds - 1 1 - Transfers to other funds (26) (26) (26) - Total other financing sources (uses) (26) (25) (25) -

Net change in fund balances (25) (28) 204 232 Fund balances, October 1 2,384 2,384 2,384 - Fund balances, September 30 $ 2,359 $ 2,356 $ 2,588 $ 232

(Amounts expressed in thousands)

Variance withFinal Budget

Positive(Negative)

-102-

Manatee County

Florida

Manatee County, FloridaImpact Fees Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original FinalBudget Budget Actual

Revenues: Licenses and permits $ 9,568 $ 10,629 $ 16,869 $ 6,240 Interest income 39 39 44 5 Miscellaneous - 164 164 - Total revenues 9,607 10,832 17,077 6,245

Expenditures: Current: General government 184 352 230 122 Economic environment 65 65 32 33 Debt service - 12 12 - Total expenditures 249 429 274 155

Excess (deficiency) of revenues over expenditures 9,358 10,403 16,803 6,400

Other financing sources (uses): Transfers from other funds 210 313 313 - Transfers to other funds (10,348) (12,152) (12,152) - Total other financing sources (uses) (10,138) (11,839) (11,839) -

Net change in fund balances (780) (1,436) 4,964 6,400 Fund balances, October 1 15,039 15,039 15,039 - Fund balances, September 30 $ 14,259 $ 13,603 $ 20,003 $ 6,400

Variance withFinal Budget

Positive(Negative)

(Amounts expressed in thousands)

-103-

Original FinalBudget Budget Actual

Revenues: Intergovernmental $ 9,903 $ 13,639 $ 9,525 $ (4,114) Charges for services - 17 30 13 Interest income - - 5 5 Contributions - 9 9 - Miscellaneous 8 8 - (8) Total revenues 9,911 13,673 9,569 (4,104)

Expenditures: Current: General government Community services 43 152 141 11

Public safety Building - 444 - 444 Community services 151 140 116 24 Neighborhood services 97 142 45 97 Parks and natural resources 195 223 164 59 Public safety 249 372 344 28 Total public safety 692 1,321 669 652

Physical environment Agriculture and resource conservation 8 8 8 - Community services 3 36 33 3 Parks and natural resources 96 100 3 97 Total physical environment 107 144 44 100

Transportation Neighborhood services 723 951 390 561 Parks and natural resources 516 658 163 495 Public works 231 231 70 161 Total transportation 1,470 1,840 623 1,217

Neighborhood services 2,552 3,677 2,384 1,293 Planning 23 23 9 14 Total economic environment 2,575 3,700 2,393 1,307

Variance with

Positive(Negative)

Final Budget

(Amounts expressed in thousands)

Manatee County, FloridaFederal and State Grants Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

-104-

Variance with

Original FinalBudget Budget Actual

Human services Community services 991 1,305 1,267 38 Neighborhood services 459 538 305 233 Planning 134 134 35 99 Total human services 1,584 1,977 1,607 370

Culture and recreation Neighborhood services 11 17 17 - Parks and natural resources 116 9 - 9 Total culture and recreation 127 26 17 9

Total expenditures 6,598 9,160 5,494 3,666

Excess (deficiency) of revenues over expenditures 3,313 4,513 4,075 (438)

Other financing sources (uses): Transfers from other funds - 118 118 - Transfers to other funds (2,978) (4,184) (4,184) - Total other financing sources (uses) (2,978) (4,066) (4,066) -

Net change in fund balances 335 447 9 (438) Fund balances, October 1 1,375 1,375 1,375 - Fund balances, September 30 $ 1,710 $ 1,822 $ 1,384 $ (438)

Final BudgetPositive

(Negative)

-105-

Original Final Budget Budget Actual

Revenues: Charges for services $ - $ 729 $ 820 $ 91 Fines and forfeitures 285 285 438 153 Interest income 3 3 3 - Total revenues 288 1,017 1,261 244

Expenditures: Current: Public safety - 729 729 -

Excess (deficiency) of revenues over expenditures 288 288 532 244

Other financing uses: Transfers to other funds - (323) (150) 173

Net change in fund balances 288 (35) 382 417 Fund balances, October 1 1,859 1,859 1,859 - Fund balances, September 30 $ 2,147 $ 1,824 $ 2,241 $ 417

Final Budget

(Negative)Positive

For the Fiscal Year Ended September 30, 2014

Manatee County, FloridaLaw Enforcement Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

(Amounts expressed in thousands)

Variance with

-106-

Manatee County, FloridaAffordable Housing Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Original Final Budget Budget Actual

Revenues: Intergovernmental $ 390 $ 499 $ 289 $ (210) Interest income 20 25 3 (22) Contributions - 9 9 - Miscellaneous 87 208 244 36 Total revenues 497 741 545 (196)

Expenditures: Current: Economic environment 554 797 473 324

Excess (deficiency) of revenues over expenditures (57) (56) 72 128

Fund balances, October 1 101 101 101 - Fund balances, September 30 $ 44 $ 45 $ 173 $ 128

(Amounts expressed in thousands)

Variance withFinal Budget

Positive(Negative)

-107-

Original Final Budget Budget Actual

Revenues: Interest income $ 39 $ 39 $ 49 $ 10

Expenditures: Current: Human services 9,460 9,726 8,901 825

Excess (deficiency) of revenues over expenditures (9,421) (9,687) (8,852) 835

Other financing uses: Transfers to other funds (100) (100) (100) -

Net change in fund balances (9,521) (9,787) (8,952) 835 Fund balances, October 1 16,467 16,467 16,467 - Fund balances, September 30 $ 6,946 $ 6,680 $ 7,515 $ 835

Manatee County, FloridaHealth Care Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

(Negative)

(Amounts expressed in thousands)

Variance withFinal Budget

Positive

-108-

Original FinalBudget Budget Actual

Revenues: Interest income $ 3 $ 3 $ 3 $ -

Expenditures: Economic environment 651 948 613 335

Excess (deficiency) of revenues over expenditures (648) (945) (610) 335

Other financing sources (uses): Reserved for contingencies (4) - - - Transfers from other funds 552 3,599 3,289 (310) Transfers to other funds - (14) (14) - Total other financing sources (uses) 548 3,585 3,275 (310)

Net change in fund balances (100) 2,640 2,665 25 Fund balances, October 1 892 892 892 - Fund balances, September 30 $ 792 $ 3,532 $ 3,557 $ 25

Final BudgetPositive

(Negative)

Manatee County, FloridaCommunity Redevelopment Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014(Amounts expressed in thousands)

Variance with

-109-

Original FinalBudget Budget Actual

Revenues: Licenses and permits $ 5,743 $ 5,743 $ 7,546 $ 1,803 Charges for services - - 36 36 Fines and forfeitures 62 62 66 4 Interest income 8 8 43 35 Miscellaneous 329 329 350 21 Total revenues 6,142 6,142 8,041 1,899

Expenditures: Current: Public safety 4,794 6,131 5,490 641

Excess (deficiency) of revenues over expenditures 1,348 11 2,551 2,540

Other financing sources (uses): Reserved for contingencies (584) (500) - 500 Transfers from other funds 488 488 488 - Total other financing sources (uses) (96) (12) 488 500

Net change in fund balances 1,252 (1) 3,039 3,040 Fund balances, October 1 11,355 11,355 11,355 - Fund balances, September 30 $ 12,607 $ 11,354 $ 14,394 $ 3,040

Positive(Negative)

Final BudgetVariance with

Manatee County, FloridaBuilding and Permitting Special Revenue Fund

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014(Amounts expressed in thousands)

-110-

Original Final Budget Budget Actual

Revenues: Taxes $ 3,057 $ 3,057 $ 3,111 $ 54 Interest income 2 2 8 6 Total revenues 3,059 3,059 3,119 60

Expenditures: Debt service expenditures 3,001 10,102 10,087 15

Excess (deficiency) of revenues over expenditures 58 (7,043) (6,968) 75

Other financing sources: Refunding bonds issued - 7,275 7,275 -

Net change in fund balances 58 232 307 75 Fund balances, October 1 340 340 340 - Fund balances, September 30 $ 398 $ 572 $ 647 $ 75

Manatee County, FloridaGeneral Obligation Bonds

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

(Amounts expressed in thousands)

PositiveFinal BudgetVariance with

For the Fiscal Year Ended September 30, 2014

(Negative)

-111-

Original FinalBudget Budget Actual

Revenues: Interest income $ - $ - $ 8 $ 8

Expenditures: Debt service expenditures 6,114 6,114 6,114 -

Excess (deficiency) of revenues over expenditures (6,114) (6,114) (6,106) 8

Other financing sources: Transfers from other funds 6,114 6,114 6,104 (10)

Net change in fund balances - - (2) (2) Fund balances, October 1 6 6 6 - Fund balances, September 30 $ 6 $ 6 $ 4 $ (2)

(Negative)

For the Fiscal Year Ended September 30, 2014

Variance with

Manatee County, FloridaRevenue Improvement Bonds

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

Final BudgetPositive

(Amounts expressed in thousands)

-112-

Original Final Budget Budget Actual

Revenues: Intergovernmental $ 1,115 $ 1,115 $ 1,064 $ (51) Interest income - - 2 2 Total revenues 1,115 1,115 1,066 (49)

Expenditures: Debt service expenditures 2,568 2,568 2,568 -

Excess (deficiency) of revenues over expenditures (1,453) (1,453) (1,502) (49)

Other financing sources: Transfers from other funds 1,454 1,503 1,503 -

Net change in fund balances 1 50 1 (49) Fund balances, October 1 - - - - Fund balances, September 30 $ 1 $ 50 $ 1 $ (49)

Positive(Negative)

Manatee County, FloridaRevenue Refunding Bonds

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014

Variance withFinal Budget

(Amounts expressed in thousands)

-113-

Variance withFinal Budget

Original Final Budget Budget Actual

Revenues: Interest income $ - $ - $ 7 $ 7

Expenditures: Debt service expenditures 6,660 6,660 6,659 1

Excess (deficiency) of revenues over expenditures (6,660) (6,660) (6,652) 8

Other financing sources: Transfers from other funds 6,660 6,660 6,652 (8)

Net change in fund balances - - - - Fund balances, October 1 4 4 4 - Fund balances, September 30 $ 4 $ 4 $ 4 $ -

(Negative)

For the Fiscal Year Ended September 30, 2014

Manatee County, FloridaRevenue Refunding and Improvement Bonds

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

Positive

(Amounts expressed in thousands)

-114-

Variance withFinal Budget

Original Final Budget Budget Actual

Revenues: Interest income $ - $ - $ - $ -

Expenditures: Debt service expenditures 220 221 221 -

Excess (deficiency) of revenues over expenditures (220) (221) (221) -

Other financing sources: Transfers from other funds 220 221 221 -

Net change in fund balances - - - - Fund balances, October 1 - - - - Fund balances, September 30 $ - $ - $ - $ -

Positive(Negative)

Manatee County, FloridaRevenue Improvement Note

Schedule of Revenues, Expenditures and Changes inFund Balances - Budget and Actual

For the Fiscal Year Ended September 30, 2014(Amounts expressed in thousands)

-115-

Manatee County

Florida

Nonmajor Enterprise Funds

Transit System

To account for the operations of the County's Mass Transit System. Stormwater

To account for the operations of the Stormwater Management System. Civic Center

To account for the operations of the Manatee Convention and Civic Center.

TransitSystem Stormwater

Assets

Current unrestricted assets: Cash and cash equivalents $ - $ 2,611 Accounts receivable (net) 13 - Interest receivable - 2 Due from other governmental units 2,190 1,147 Prepaid items 22 2 Inventory - - Deposits - 183 Total current unrestricted assets 2,225 3,945

Noncurrent assets: Land and other nondepreciable assets 2,513 22,637 Capital assets, net of accumulated depreciation 16,175 2,870 Total noncurrent assets 18,688 25,507 Total assets 20,913 29,452

Liabilities

Current liabilities: Accounts payable 30 38 Wages and benefits payable 307 123 Contracts and retainages payable 223 - Compensated absences 30 16 Deposits - - Total current liabilities 590 177

Noncurrent liabilities: Advance from other funds 175 - Compensated absences 461 271 Other post-employment benefits 1,960 630 Total noncurrent liabilities 2,596 901 Total liabilities 3,186 1,078

Net Position

Net investment in capital assets 18,688 25,507 Unrestricted (961) 2,867 Total net position $ 17,727 $ 28,374

Manatee County, Florida

(Amounts expressed in thousands)September 30, 2014

Nonmajor Enterprise FundsCombining Statement of Net Position

-116-

CivicCenter Total

$ 2,642 $ 5,253 - 13

1 3 - 3,337 14 38 30 30 3 186

2,690 8,860

1,417 26,567 3,481 22,526 4,898 49,093 7,588 57,953

49 117 40 470 - 223

5 51 474 474 568 1,335

- 175 59 791

195 2,785 254 3,751 822 5,086

4,898 49,093 1,868 3,774

$ 6,766 $ 52,867

-117-

TransitSystem Stormwater

Operating revenues: Charges for services $ 1,284 $ 53 Miscellaneous 101 - Total operating revenues 1,385 53

Operating expenses: Personal services 5,788 2,496 Operating expenses 4,947 2,212 Depreciation and amortization 1,874 343 Total operating expenses 12,609 5,051

Operating loss (11,224) (4,998)

Nonoperating revenues (expenses): Operating grants and contributions 4,076 - Interest income 2 9 Gain (loss) on disposition of assets (47) 13 Total nonoperating revenues (expenses) 4,031 22

Loss before contributions and transfers (7,193) (4,976)

Capital grants and contributions 2,282 27Transfers in 5,596 3,934 Changes in net position 685 (1,015)

Total net position, October 1 17,042 29,389 Total net position, September 30 $ 17,727 $ 28,374

Manatee County, Florida

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2014

Nonmajor Enterprise Fundsand Changes in Fund Net Position

Combining Statement of Revenues, Expenses

-118-

CivicCenter Total

$ 1,531 $ 2,868 42 143

1,573 3,011

701 8,985 1,032 8,191

579 2,796 2,312 19,972

(739) (16,961)

- 4,076 8 19 1 (33) 9 4,062

(730) (12,899)

- 2,309 600 10,130 (130) (460)

6,896 53,327 $ 6,766 $ 52,867

-119-

TransitSystem Stormwater

Cash flows from operating activities: Cash received from customers $ 1,419 $ 53 Cash payments to vendors for goods and services (1,166) (758) Cash payments to employees for services (4,685) (1,979) Cash payments to other funds (4,702) (1,846) Net cash provided (used) by operating activities (9,134) (4,530)

Cash flows from noncapital financing activities: Operating grants 4,291 - Transfers in 5,596 3,934 Increase in advance from other funds 28 - Net cash provided (used) by noncapital financing activities 9,915 3,934

Cash flows from capital and related financing activities: Acquisition and construction of capital assets (2,218) (452) Receipt of contributed capital 1,402 27 Proceeds from sale of assets 33 35 Net cash provided (used) by capital and related financing activities (783) (390)

Cash flows from investing activities: Interest on investments 2 9

Net increase (decrease) in cash and cash equivalents - (977) Cash and cash equivalents, October 1 - 3,588 Cash and cash equivalents, September 30 $ - $ 2,611

Manatee County, FloridaCombining Statement of Cash Flows

Nonmajor Enterprise FundsFor the Fiscal Year Ended September 30, 2014

(Amounts expressed in thousands)

-120-

CivicCenter Total

$ 1,642 $ 3,114 (755) (2,679) (594) (7,258) (411) (6,959) (118) (13,782)

- 4,291 600 10,130 - 28

600 14,449

(249) (2,919) - 1,429

1 69

(248) (1,421)

8 19

242 (735) 2,400 5,988

$ 2,642 $ 5,253

(Continued)

-121-

TransitSystem Stormwater

Reconciliation of operating loss to net cash provided (used) by operating activities:Operating loss $ (11,224) $ (4,998) Adjustments to reconcile operating loss to net cash provided (used) by operating activities: Depreciation 1,874 343 Changes in assets and liabilities: (Increase) decrease in: Accounts receivable (1) - Due from other governmental units 35 - Prepaid items (8) (2) Inventory - - Increase (decrease) in: Accounts payable (13) (1) Wages and benefits payable 46 21 Compensated absences 37 27 Other post-employment benefits 120 80 Customer deposits - - Total adjustments 2,090 468 Net cash provided (used) by operating activities $ (9,134) $ (4,530)

Noncash investing, capital, and financing activities:

Loss on disposition of assets $ 47 $ -

Manatee County, FloridaCombining Statement of Cash Flows

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2014

Nonmajor Enterprise Funds - Continued

-122-

CivicCenter Total

$ (739) $ (16,961)

579 2,796

8 7 17 52 (6) (16)

(18) (18)

(31) (45) 6 73

11 75 11 211 44 44

621 3,179 $ (118) $ (13,782)

$ - $ 47

-123-

Manatee County

Florida

Internal Service Funds

Central Stores

To account for the County's central inventories. Motor Pool

To account for the operations of the County's fleet services. Communications

To account for the installation and maintenance of telephone and other communications equipment for the County.

Self Insurance

To account for all the workers' compensation, fleet and general liability claims that are made against the County.

Health Self Insurance

To account for the operations of the County’s health, dental and wellness programs. Automated Systems Maintenance

To account for the installation and maintenance of computer equipment for the County.

Motor PoolAssets

Current assets: Cash and cash equivalents $ 3,544 $ 5,846 $ 813 Accounts receivable (net) 31 13 54 Interest receivable 2 4 1 Due from other governmental units - - - Prepaid items - 139 124 Inventory 924 255 61 Deposits - - - Total current assets 4,501 6,257 1,053

Noncurrent assets: Advance to other funds - - - Land and other nondepreciable assets 5 4,620 - Capital assets, net of $23,221 acc. depr. 687 14,197 466 Total noncurrent assets 692 18,817 466 Total assets 5,193 25,074 1,519

Liabilities

Current liabilities: Accounts payable 48 317 8 Wages and benefits payable 5 129 38 Claims payable - - - Compensated absences - 11 - Unearned revenue - - - Total current liabilities 53 457 46

Noncurrent liabilities: Compensated absences 19 367 102 Total liabilities 72 824 148

Net Position

Net investment in capital assets 692 18,817 466 Unrestricted 4,429 5,433 905 Total net position $ 5,121 $ 24,250 $ 1,371

Manatee County, FloridaCombining Statement of Net Position

Internal Service FundsSeptember 30, 2014

(Amounts expressed in thousands)

CommunicationsCentral Stores

-124-

Health AutomatedSelf Self Systems

Insurance Insurance Maintenance Total

$ 12,703 $ 33,015 $ 2,175 $ 58,096 39 122 - 259 8 20 2 37

- 1,481 - 1,481 2,145 - 233 2,641

- - - 1,240 94 - - 94

14,989 34,638 2,410 63,848

- 5,330 - 5,330 - - - 4,625

2 72 544 15,968 2 5,402 544 25,923

14,991 40,040 2,954 89,771

60 216 58 707 20 19 9 220

9,848 3,080 - 12,928 - - - 11 - 194 - 194

9,928 3,509 67 14,060

8 12 5 513 9,936 3,521 72 14,573

2 5,402 544 25,923 5,053 31,117 2,338 49,275

$ 5,055 $ 36,519 $ 2,882 $ 75,198

-125-

Manatee County, FloridaCombining Statement of Revenues, Expenses

and Changes in Fund Net PositionInternal Service Funds

For the Fiscal Year Ended September 30, 2014

Central Stores Motor Pool

Operating revenues: Charges for services $ 5,206 $ 10,026 $ 1,424 Miscellaneous - 48 - Total operating revenues 5,206 10,074 1,424

Operating expenses: Personal services 83 2,344 774 Operating expenses 5,056 3,475 712 Depreciation 66 3,143 61 Total operating expenses 5,205 8,962 1,547

Operating income (loss) 1 1,112 (123)

Nonoperating revenues (expenses): Interest income 11 18 3 Gain (loss) on disposition of assets - 150 (27) Total nonoperating revenues (expenses) 11 168 (24)

Income (loss) before contributions and transfers 12 1,280 (147)

Capital contributions - 76 8 Transfers in - - 130 Transfers out - - - Change in net position 12 1,356 (9)

Total net position, October 1 5,109 22,894 1,380 Total net position, September 30 $ 5,121 $ 24,250 $ 1,371

(Amounts expressed in thousands)

Communications

-126-

Health AutomatedSelf Self Systems

Insurance Maintenance Total

$ 7,754 $ 40,934 $ 1,480 $ 66,824 216 1,252 - 1,516

7,970 42,186 1,480 68,340

2,272 357 147 5,977 5,581 37,705 808 53,337

1 22 128 3,421 7,854 38,084 1,083 62,735

116 4,102 397 5,605

40 125 10 207 - - - 123 40 125 10 330

156 4,227 407 5,935

- - - 84 - - - 130 - - (722) (722) 156 4,227 (315) 5,427

4,899 32,292 3,197 69,771 $ 5,055 $ 36,519 $ 2,882 $ 75,198

Insurance

-127-

Manatee County, FloridaCombining Statement of Cash Flows

Internal Service FundsFor the Fiscal Year Ended September 30, 2014

Central Stores Motor Pool

Cash flows from operating activities: Cash received from customers $ 430 $ 264 Cash received from other funds for goods and services 4,787 9,799 Cash payments to vendors for goods and services (5,126) (3,114) Cash payments to employees for services (67) (1,981) Cash payments to other funds (26) (601) Net cash provided (used) by operating activities (2) 4,367

Cash flows from noncapital financing activities: Transfers in - - Transfers out - - Increase in advance to other funds - - Decrease in advance to other funds - - Net cash provided (used) by non capital financing activities - -

Cash flows from capital and related financing activities: Acquisition of capital assets (11) (6,110) Proceeds from sale of assets - 212 Net cash provided (used) by capital and related financing activities (11) (5,898)

Cash flows from investing activities: Interest on investments 11 18

Net increase (decrease) in cash and cash equivalents (2) (1,513)

Cash and cash equivalents, October 1 3,546 7,359 Cash and cash equivalents, September 30 $ 3,544 $ 5,846

Reconciliation of operating income (loss) to net cash provided (used) by operating activities: Operating income (loss) $ 1 $ 1,112 Adjustments to reconcile operating income to net cash provided (used) by operating activities: Depreciation 66 3,143 Changes in assets and liabilities: (Increase) decrease in: Accounts receivable 11 (11) Due from other governmental units - - Prepaid items - 46 Inventory 54 (65) Deposits - - Increase (decrease) in: Accounts payable (136) 93 Wages and benefits payable 1 19 Claims payable - - Unearned revenue - - Compensated absences 1 30 Total adjustments (3) 3,255

Net cash provided (used) by operating activities $ (2) $ 4,367

Noncash investing, capital and financing activities: Loss on disposition of assets $ - $ - Acquisition of contributed assets - 76 Assets transferred in from other funds - -

(Amounts expressed in thousands)

-128-

Health AutomatedSelf Self

Communications Insurance Insurance Maintenance Total

$ 614 $ 216 $ 4,495 $ 36 $ 6,055 778 7,796 37,329 1,448 61,937 (668) (5,545) (39,020) (906) (54,379) (688) (2,234) (293) (124) (5,387) (223) (169) (24) (28) (1,071) (187) 64 2,487 426 7,155

120 - - - 120 - - - (722) (722) - - (6,100) - (6,100) - - 770 - 770 120 - (5,330) (722) (5,932)

(64) - (3) (331) (6,519) - - - - 212

(64) - (3) (331) (6,307)

3 37 123 10 202

(128) 101 (2,723) (617) (4,882)

941 12,602 35,738 2,792 62,978 $ 813 $ 12,703 $ 33,015 $ 2,175 $ 58,096

$ (123) $ 116 $ 4,102 $ 397 $ 5,605

61 1 22 128 3,421

(32) 42 68 4 82 - - (377) - (377)

(124) 177 - (116) (17) 78 - - - 67 - (75) - - (75)

(34) 31 (166) 10 (202) 2 6 3 2 33

- (233) (1,173) - (1,406) - - 4 - 4 (15) (1) 4 1 20 (64) (52) (1,615) 29 1,550

$ (187) $ 64 $ 2,487 $ 426 $ 7,155

$ 27 $ - $ - $ - $ 27 8 - - - 84

(10) - - - (10)

Systems

-129-

Fiduciary Funds

Clerk-General Agency

This agency fund accounts for monies held in trust by the Clerk of Circuit Court and Comptroller prior to disbursement.

Sheriff-General Agency

This agency fund accounts for monies held by the Sheriff in a custodial capacity. Tax Collector–State–General Agency

This agency fund account is custodial in nature and acts as a clearing account for assets held by the Tax Collector prior to legal disbursement.

Tax Collector–Local–General Agency

This agency fund account is custodial in nature and acts as a clearing account for assets held by the Tax Collector prior to legal disbursement.

Tax TaxCollector Collector

Clerk Sheriff State LocalGeneral General General GeneralAgency Agency Agency Agency Total

Assets

Cash and cash equivalents $ 13,345 $ 772 $ 381 $ 5,228 $ 19,726

Liabilities

Due to individuals $ 12,802 $ 772 $ - $ - $ 13,574 Due to other governmental units 543 - 381 5,228 6,152 Total liabilities $ 13,345 $ 772 $ 381 $ 5,228 $ 19,726

Manatee County, FloridaCombining Statement of Fiduciary Net Position

All Agency FundsSeptember 30, 2014

(Amounts expressed in thousands)

-130-

Balance BalanceOctober 1 Additions Deductions September 30

Clerk General Agency:

Assets

Cash and cash equivalents $ 14,391 $ 139,113 $ 140,159 $ 13,345

Liabilities

Due to individuals $ 13,231 $ 95,435 $ 95,864 $ 12,802 Due to other governmental units 1,160 43,678 44,295 543 Total liabilities $ 14,391 $ 139,113 $ 140,159 $ 13,345

Sheriff General Agency:Assets

Cash and cash equivalents $ 1,009 $ 3,218 $ 3,455 $ 772

Liabilities

Due to individuals $ 1,009 $ 3,218 $ 3,455 $ 772

Tax Collector-State-General Agency:Assets

Cash and cash equivalents $ 696 $ 29,490 $ 29,805 $ 381

Liabilities

Due to other governmental units $ 696 $ 31,443 $ 31,758 $ 381

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2014

All Agency FundsCombining Statement of Changes in Assets and Liabilities

Manatee County, Florida

-131-

Balance Balance October 1 Additions Deductions September 30

Tax Collector-Local-General Agency:Assets

Cash and cash equivalents $ 5,023 $ 477,261 $ 477,056 $ 5,228

Liabilities

Due to other governmental units $ 5,023 $ 523,542 $ 523,337 $ 5,228

Total All Agency Funds:

Assets

Cash and cash equivalents $ 21,119 $ 649,082 $ 650,475 $ 19,726

Liabilities

Due to individuals $ 14,240 $ 98,653 $ 99,319 $ 13,574 Due to other governmental units 6,879 598,663 599,390 6,152 Total liabilities $ 21,119 $ 697,316 $ 698,709 $ 19,726

-132-

CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS

Governmental funds capital assets:

Land $ 168,210 Buildings 267,534 Improvements other than buildings 135,369 Machinery and equipment 107,698 Infrastructure 529,528 Construction in progress 77,986 Total governmental funds capital assets $ 1,286,325

Investment in governmental funds capital assets by source:

Acquisitions as of September 30, 1980: $ 9,739 Acquisitions after September 30, 1980: General Fund 155,444 Special Revenue Fund 584,116 Donations 249,474 Capital project funds: General debt 120,270 Federal grants and shared revenues 5,191 State grants and shared revenues 34,721 Local grants and shared revenues 9,346 County funding 118,024 Total governmental funds capital assets $ 1,286,325

Manatee County, FloridaCapital Assets Used in the Operation of Governmental Funds

Schedule by SourceSeptember 30, 2014

(Amounts expressed in thousands)

-133-

ImprovementsOther Than

Land Buildings BuildingsFunction and Activity

General government: Administration $ 24,341 $ 39,144 $ 2,914 Central services 471 4,688 9,129 Constitutional officers 716 3,033 2,284 Data information systems - - 14,369 Judicial - 1,632 125 Planning, permitting and inspection - - 214 Property management 595 1,717 534 Soil conservation 25,806 98 - Total general government 51,929 50,312 29,569

Public safety: Animal control 5 566 233 Community services 130 1,182 2 Public safety 4,202 121,931 16,819 Sheriff/detention 2,475 60,941 5,151 Total public safety 6,812 184,620 22,205

Physical environment 16,780 884 25,205

Transportation 46,695 2,921 1,006

Economic environment: Community services - 1 103 Tourist development - 237 32 Total economic environment - 238 135

Human services: Community services 2 3,663 1,805

Culture and recreation: Historical library - 68 8 Library 752 8,438 1,284 Parks & natural resources 45,240 16,390 54,152 Total culture and recreation 45,992 24,896 55,444

Construction in progress - - - Total governmental funds capital assets $ 168,210 $ 267,534 $ 135,369

Manatee County, FloridaCapital Assets Used in the Operation of Governmental Funds

Schedule by Function and ActivitySeptember 30, 2014

(Amounts expressed in thousands)

-134-

Machineryand Construction

Equipment Infrastructure in Progress Total

$ 1,179 $ - $ - $ 67,578 917 - - 15,205

14,854 - - 20,887 6,702 - - 21,071

322 - - 2,079 85 - - 299

583 - - 3,429 - - - 25,904

24,642 - - 156,452

187 - - 991 - - - 1,314

15,612 - - 158,564 51,861 - - 120,428 67,660 - - 281,297

992 81,660 - 125,521

9,947 447,802 - 508,371

219 - - 323 108 - - 377 327 - - 700

89 - - 5,559

1 - - 77 495 - - 10,969

3,545 66 - 119,393 4,041 66 - 130,439

- - 77,986 77,986 $ 107,698 $ 529,528 $ 77,986 $ 1,286,325

-135-

Governmental GovernmentalFunds Capital Funds Capital

Assets AssetsOctober 1 Additions Deductions September 30

Function and Activity

General government: Administration $ 67,268 $ 465 $ 155 $ 67,578 Central services 12,633 2,744 172 15,205 Constitutional officers 19,797 1,423 333 20,887 Data information systems 20,978 414 321 21,071 Judicial 2,088 27 36 2,079 Planning, permitting and inspection 305 - 6 299 Property management 1,676 1,786 33 3,429 Soil conservation 25,904 - - 25,904 Total general government 150,649 6,859 1,056 156,452

Public safety: Animal control 1,016 - 25 991 Community services 1,317 - 3 1,314 Public safety 158,589 375 400 158,564 Sheriff/detention 114,514 8,816 2,902 120,428 Total public safety 275,436 9,191 3,330 281,297

Physical environment 124,344 1,586 409 125,521

Transportation 505,165 4,047 841 508,371

Economic environment: Community services 198 173 48 323 Tourist development 381 - 4 377 Total economic environment 579 173 52 700

Human services: Community services 9,192 2 3,635 5,559

Culture and recreation: Historical library 77 - - 77 Library 10,969 - - 10,969 Parks & natural resources 113,782 5,896 285 119,393 Total culture and recreation 124,828 5,896 285 130,439

Construction in progress 50,636 40,472 13,122 77,986 Total governmental funds capital assets $ 1,240,829 $ 68,226 $ 22,730 $ 1,286,325

(Amounts expressed in thousands)

Manatee County, FloridaCapital Assets Used in the Operation of Governmental Funds

Schedule of Changes by Function and ActivityFor the Fiscal Year Ended September 30, 2014

-136-

Red Maple, Acer rubrum and Firebush, Hamelia patens

Photos: Cathy Slusser

Red Maple is an outstanding ornamental tree with its characteristic red, orange or yellow colored leaves that appear in the fall and last for several weeks. Sometimes all three colors will appear on the same tree. Native throughout the eastern United States and Florida, Red Maple can reach heights of 70’. Its seeds are quite popular with squirrels and birds. The newly emerging leaves and red flowers and fruits signal that spring has come. Firebush is a perennial or semi-woody shrub producing flowers from the late spring until the first frost. The bright red flowers attract hummingbirds and butterflies, including the Zebra Longwing and Gulf Fritillary butterfies.

StatiStic

al Se

ctio

n

Manatee County

Florida

STATISTICAL SECTION This part of the Manatee County Government’s comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the government’s overall financial health. Contents Page Financial Trends 137

These schedules contain trend information to help the reader understand how the government’s financial performance and well-being has changed over time.

Revenue Capacity 147

These schedules contain information to help the reader assess the County’s most significant sources of revenue.

Debt Capacity 155

These schedules contain information to help the reader assess the affordability of the County’s current level of debt and the County’s ability to issue debt in the future.

Demographics and Economic Information 158

These schedules offer demographics and economic indicators to help the reader understand the environment which the County’s financial activities take place.

Operating Information 161

These schedules contain information regarding the number of employees, the operating indicators, and the capital assets used in the various functions and programs.

Other 171 These schedules contain other information to assist the readers in understanding the County’s operations.

Current Debt 173

These schedules contain information regarding the County’s current debt.

2014 2013 2012Governmental activities: Net investment in capital assets $ 894,627 $ 859,551 $ 848,429 Restricted 5,306 6,889 6,460 Unrestricted 262,176 286,389 308,917 Total governmental activities net position 1,162,109 1,152,829 1,163,806

Business-type activities: Net investment in capital assets 739,886 721,029 715,184 Restricted 10,359 11,476 16,950 Unrestricted 167,596 158,011 122,663 Total business-type activities net position 917,841 890,516 854,797

Primary government: Net investment in capital assets 1,634,513 1,580,580 1,563,613 Restricted 15,665 18,365 23,410 Unrestricted 429,772 444,400 431,580 Total primary government net position $ 2,079,950 $ 2,043,345 $ 2,018,603

Manatee County, FloridaNet Position by Component

Last Ten Fiscal Years (Amounts expressed in thousands)

-137-

2011 2010 2009 2008 2007 2006 2005

$ 838,347 $ 800,517 $ 808,472 $ 726,787 $ 666,428 $ 558,419 $ 495,682 5,829 6,206 5,967 10,384 61,199 58,440 61,525

330,254 376,864 354,914 393,284 314,948 293,746 246,066 1,174,430 1,183,587 1,169,353 1,130,455 1,042,575 910,605 803,273

711,960 686,634 651,248 605,965 535,979 482,693 452,226 20,801 9,765 9,360 7,996 8,921 3,931 3,599

101,167 98,090 111,084 120,963 127,125 127,550 106,248 833,928 794,489 771,692 734,924 672,025 614,174 562,073

1,550,307 1,487,151 1,459,720 1,332,752 1,202,407 1,041,112 947,908 26,630 15,971 15,327 18,380 70,120 62,371 65,124

431,421 474,954 465,998 514,247 442,073 421,296 352,314 $ 2,008,358 $ 1,978,076 $ 1,941,045 $ 1,865,379 $ 1,714,600 $ 1,524,779 $ 1,365,346

-138-

Governmental activities: 2014 2013 2012Functions/Programs Expenses General government $ 80,600 $ 77,800 $ 80,151 Public safety 146,534 141,768 145,074 Physical environment 8,444 8,034 6,734 Transportation 36,872 35,118 34,304 Economic environment 13,965 16,159 13,269 Human services 32,469 31,844 30,445 Culture and recreation 17,538 17,339 17,477 Interest on long-term debt 4,677 4,195 5,791 Total governmental activities 341,099 332,257 333,245

Program Revenues Charges for services General government 34,912 26,852 26,202 Public safety 22,455 22,179 18,005 Physical environment 130 175 188 Transportation 12,304 10,149 8,011 Economic environment 299 311 238 Human services 135 250 412 Culture and recreation 5,275 5,063 3,351 Operating grants and contributions 18,413 25,503 19,468 Capital grants and contributions 11,001 3,985 9,919 Total governmental activities program revenues 104,924 94,467 85,794

Net (Expense) Revenue (236,175) (237,790) (247,451)

General Revenues and Other Changes in Net Position Taxes Property taxes 160,543 154,445 157,628 Gasoline taxes 21,777 21,031 21,119 Sales tax 23,671 18,722 18,984 Other taxes Tourism taxes 10,441 8,918 8,065 Communication services taxes 5,434 5,141 5,153 Phosphate severance taxes 424 790 674 Vessel tax 366 366 353 State revenue sharing 7,797 7,249 12,818 Interest income 1,504 1,347 2,613 Miscellaneous 16,852 10,547 9,714 Transfers (3,354) (1,743) (294) Total general revenues and other changes in net position 245,455 226,813 236,827 Total governmental activities change in net position $ 9,280 $ (10,977) $ (10,624)

Manatee County, FloridaChanges in Net Position

Last Ten Fiscal Years (Amounts expressed in thousands)

-139-

2011 2010 2009 2008 2007 2006 2005

$ 77,272 $ 75,363 $ 85,233 $ 83,206 $ 71,735 $ 66,003 $ 63,029 145,172 144,640 147,808 146,619 137,207 131,590 120,703

6,744 8,031 10,524 10,945 11,598 10,327 9,444 34,889 37,775 37,844 33,019 32,591 26,697 27,429 16,047 16,591 16,091 15,358 14,818 12,545 10,186 28,397 25,990 29,020 28,701 26,782 24,193 22,946 17,843 16,872 18,687 18,827 19,739 18,330 17,859 6,223 6,772 7,626 8,438 9,870 6,500 6,139

332,587 332,034 352,833 345,113 324,340 296,185 277,735

24,306 23,400 28,288 28,148 29,349 29,199 32,484 16,550 15,912 14,048 14,377 16,983 19,192 25,257

223 387 282 238 291 799 917 5,326 7,800 8,088 14,608 16,762 19,307 12,325

246 93 196 237 1,039 808 711 512 839 1,474 3,442 3,272 5,024 2,686

2,338 2,504 2,168 2,697 3,100 4,161 3,971 22,158 24,359 20,384 20,223 20,275 22,044 26,535 18,325 9,947 33,449 45,796 41,385 30,848 11,262 89,984 85,241 108,377 129,766 132,456 131,382 116,148

(242,603) (246,793) (244,456) (215,347) (191,884) (164,803) (161,587)

164,066 189,299 208,545 226,446 237,022 196,309 170,682 20,924 21,050 20,803 21,148 19,209 15,655 15,926 17,803 16,331 16,208 17,676 19,095 20,196 18,763

6,971 6,382 5,147 5,013 4,806 4,814 4,658 5,256 5,404 5,623 5,438 5,280 5,013 4,500

940 725 1,198 377 528 2,019 1,967 403 305 388 298 276 154 155

12,405 12,199 7,578 6,721 7,271 7,467 6,911 3,178 5,805 14,311 17,581 27,649 17,666 7,673 9,771 9,406 8,700 9,511 10,533 9,320 9,264 (8,271) (4,881) (5,147) (6,981) (7,816) (6,478) (2,774)

233,446 262,025 283,354 303,228 323,853 272,135 237,725 $ (9,157) $ 15,232 $ 38,898 $ 87,881 $ 131,969 $ 107,332 $ 76,138

(Continued)

-140-

Business-Type Activities 2014 2013 2012Function/Program Expenses Water and sewer $ 98,723 $ 91,871 $ 93,388 Port Authority 15,452 15,311 15,043 Solid waste 33,048 32,404 31,500 Transit 12,392 12,289 10,700 Stormwater 4,917 4,836 4,026 Golf courses - - 348 Civic center 2,297 2,374 4,800 Total expenses 166,829 159,085 159,805

Program Revenues Charges for services Water and sewer 108,967 105,648 103,725 Port Authority 9,457 10,384 10,281 Solid waste 38,438 37,904 37,195 Transit 1,284 1,206 1,177 Stormwater 66 179 94 Golf courses - - 862 Civic center 1,532 1,392 1,394 Operating grants and contributions 5,769 4,923 3,788 Capital grants and contributions 25,125 31,248 20,579 Total revenues 190,638 192,884 179,095

Net (Expense) Revenue 23,809 33,799 19,290

General Revenues and Other Changes in Net Position Interest income 19 15 52 Miscellaneous 143 162 182 Gain on asset impairment - - 1,051 Extraordinary item - debt forgiveness - - - Transfers 3,354 1,743 294 Total general revenues and other changes in net position 3,516 1,920 1,579

Total business-type activity change in net position 27,325 35,719 20,869

Total primary government change in net position $ 36,605 $ 24,742 $ 10,245

Manatee County, FloridaChanges in Net Position - Continued

Last Ten Fiscal Years(Amounts expressed in thousands)

-141-

2011 2010 2009 2008 2007 2006 2005

$ 91,420 $ 88,061 $ 88,066 $ 87,504 $ 82,885 $ 72,765 $ 68,547 15,239 16,115 14,400 14,711 14,261 14,523 13,207 25,006 31,328 29,913 40,667 38,550 35,218 32,363 11,208 10,979 10,910 10,924 9,242 8,168 8,200 3,904 3,325 3,780 4,202 3,939 3,387 3,413 3,272 3,179 3,476 4,090 3,877 3,841 3,765 2,692 2,322 2,408 2,738 2,642 2,391 2,291

152,741 155,309 152,953 164,836 155,396 140,293 131,786

98,006 90,976 93,723 94,391 105,496 102,091 92,058 10,171 11,697 11,151 10,869 12,638 13,523 11,921 35,342 36,701 38,390 43,502 43,551 39,742 35,317 1,064 1,096 1,053 1,087 969 1,014 1,829

45 80 76 7 1 1 1 2,957 2,828 3,349 3,680 3,810 3,775 3,582 1,449 1,311 1,279 1,309 1,255 1,240 1,180 3,245 3,684 4,133 3,565 3,231 3,014 4,512

31,404 24,449 29,982 60,732 33,840 20,584 14,697 183,683 172,822 183,136 219,142 204,791 184,984 165,097

30,942 17,513 30,183 54,306 49,395 44,691 33,311

62 113 314 300 326 246 116 164 894 1,124 763 315 686 431 - - - - - - - - - - 548 - - -

8,271 4,881 5,147 6,981 7,816 6,478 2,774 8,497 5,888 6,585 8,592 8,457 7,410 3,321

39,439 23,401 36,768 62,898 57,852 52,101 36,632

$ 30,282 $ 38,633 $ 75,666 $ 150,779 $ 189,821 $ 159,433 $ 112,770

-142-

Revenues: 2014 2013 2012 2011 Taxes $ 193,590 $ 185,069 $ 187,491 $ 192,805 Licenses and permits 27,869 24,035 17,144 12,228 Intergovernmental 71,078 62,406 64,148 73,489 Charges for services 38,673 40,112 36,382 37,205 Fines and forfeitures 8,759 1,787 1,067 1,377 Interest income 1,299 1,237 2,074 3,067 Assessments 173 532 94 110 Contributions 1,656 2,397 1,941 4,227 Miscellaneous 5,427 6,030 5,233 5,180 Total revenues 348,524 323,605 315,574 329,688

Expenditures: General government 74,199 70,073 68,914 70,899 Public safety 142,977 133,028 134,356 136,625 Physical environment 4,758 4,291 4,625 4,781 Transportation 23,927 19,138 21,776 22,507 Economic environment 14,471 16,413 13,387 16,298 Human services 30,088 30,148 30,051 28,147 Culture and recreation 14,831 14,507 14,388 14,900 Intergovernmental 4,026 4,568 3,781 4,336 Debt service: Interest 5,383 4,956 6,303 6,784 Principal 20,395 14,250 13,275 12,903 Capital projects 39,041 18,493 22,008 44,579 Total expenditures 374,096 329,865 332,864 362,759

Excess of revenues over (under) expenditures (25,572) (6,260) (17,290) (33,071)

Other financing sources (uses): Bond proceeds 6,482 - - - Revenue or refunding bonds issued 7,275 79,640 - - Loans issued and capital lease acquisition - 5,984 - - Premiums on bonds - 14,231 - - Payments to refunded bond escrow agent - (87,607) - - Transfers in 51,884 47,285 63,113 63,291 Transfers out (54,646) (49,578) (64,983) (72,899) Total other financing sources (uses) 10,995 9,955 (1,870) (9,608)

Net change in fund balances $ (14,577) $ 3,695 $ (19,160) $ (42,679)

Capital outlay in functional categories $ 11,863 $ 6,228 $ 6,609 $ 8,843 Noncapital expenditures(1) $ 323,192 $ 305,144 $ 304,247 $ 309,337 Debt service as a percentage of noncapital expenditures 7.98% 6.29% 6.44% 6.36%

Manatee County, FloridaChanges in Fund Balances - Governmental Funds

Last Ten Fiscal Years(Amounts expressed in thousands)

(1) Noncapital expenditures exclude capital projects and capital outlay in functional categories.

-143-

2010 2009 2008 2007 2006 2005$ 217,734 $ 235,692 $ 253,527 $ 261,550 $ 216,963 $ 190,897

13,128 11,198 5,895 7,848 8,766 10,406 66,247 57,118 60,167 64,471 67,915 62,780 38,374 41,491 56,538 55,828 61,042 61,263 1,480 3,157 4,047 4,183 4,112 3,796 5,727 14,162 19,169 29,260 21,421 9,752

169 224 150 234 286 279 5,373 7,566 2,084 3,064 6,481 1,603 4,902 4,466 4,847 6,022 5,644 5,022

353,134 375,074 406,424 432,460 392,630 345,798

72,199 76,706 79,409 74,452 70,091 59,699 136,132 139,465 143,042 140,089 133,823 122,710

5,154 5,778 7,442 8,303 7,525 6,610 25,401 27,404 22,740 24,268 21,860 20,132 16,857 16,448 15,543 14,926 12,719 10,260 25,594 28,635 28,561 26,722 24,081 22,798 15,741 18,051 18,451 20,031 18,659 17,719 4,373 4,489 5,799 3,927 3,109 3,076

7,409 8,171 9,016 10,432 6,739 6,371 12,180 33,173 17,397 20,842 8,050 12,715 43,655 36,209 47,146 135,404 76,298 44,354

364,695 394,529 394,546 479,396 382,954 326,444

(11,561) (19,455) 11,878 (46,936) 9,676 19,354

- - - - - - 13,740 - - - 59,585 -

- - - 37,087 - - 755 - - - 3,210 -

(14,295) - - - - - 60,406 82,209 167,972 104,541 65,907 61,430 (67,886) (89,856) (178,716) (112,358) (72,385) (64,204) (7,280) (7,647) (10,744) 29,270 56,317 (2,774)

$ (18,841) $ (27,102) $ 1,134 $ (17,666) $ 65,993 $ 16,580

$ 9,582 $ 7,827 $ 10,454 $ 15,865 $ 15,417 $ 11,696 $ 311,458 $ 350,493 $ 336,946 $ 328,127 $ 291,239 $ 270,394

6.29% 11.80% 7.84% 9.53% 5.08% 7.06%

-144-

General Fund: (1) 2014 2013 2012 Nonspendable $ 16,201 $ 16,689 $ 6,510 Restricted 70 1,104 58 Committed 1,623 2,527 2,572 Assigned 4,766 5,158 3,093 Unassigned 69,810 74,194 93,062 Total general fund $ 92,470 $ 99,672 $ 105,295

All Other Governmental Funds: Nonspendable $ 2,886 $ 6,143 $ 1,296 Restricted 185,850 188,630 186,915 Committed 14,325 11,345 10,529 Assigned 38,666 42,984 45,232 Unassigned - - (4,188) Total all other governmental funds $ 241,727 $ 249,102 $ 239,784

General Fund: Reserved for: Encumbrances Prepaid items Inventory Advance to other funds Unreserved Total general fund

All Other Governmental Funds: Reserved for: Encumbrances Prepaid items Inventory Advance to other funds Long-term amounts due from other governmental units Permanent fund Unreserved, reported in: Special revenue funds Debt service funds Capital project funds Total all other governmental funds

Manatee County, FloridaFund Balances - Governmental Funds

Last Ten Fiscal Years (Amounts expressed in thousands)

(1) In FY2011 the County implemented GASB 54 under which governmental fund balances are reported as nonspendable, restricted committed, assigned and unassigned.

-145-

2011$ 14,370

117 1,815 4,828

97,607 $ 118,737

$ 2,863 191,501 10,322 45,756 (4,940)

$ 245,502

2010 2009 2008 2007 2006 2005

$ 6,160 $ 6,007 $ 5,378 $ 4,911 $ 4,519 $ 2,533 568 299 233 287 116 161 257 251 283 285 265 217

5,327 5,277 4,489 17,704 24,320 19,036 116,219 116,402 115,251 117,749 94,932 88,752

$ 128,531 $ 128,236 $ 125,634 $ 140,936 $ 124,152 $ 110,699

$ 33,088 $ 40,074 $ 16,407 $ 36,814 $ 82,759 $ 32,265 77 112 82 170 26 43

133 162 - - - - 872 1,907 1,907 907 907 332

8,705 13,431 15,937 8,727 8,748 - - - - 56,444 57,616 58,495

147,411 143,694 165,811 133,910 92,829 84,508 395 398 471 894 824 753

87,707 97,747 126,613 72,926 101,533 116,307 $ 278,388 $ 297,525 $ 327,228 $ 310,792 $ 345,242 $ 292,703

-146-

NetCommercial Assessed Value

Fiscal Tax Residential and Industrial Other of PersonalYear Year Property Property Property Property (2)

2005 2004 $ 15,227,789 $ 3,171,562 $ 877,318 $ 1,879,368

2006 2005 18,186,417 3,525,004 1,071,774 1,975,827

2007 2006 23,003,462 4,006,873 1,184,175 2,541,168

2008 2007 26,213,357 4,369,318 1,178,162 2,692,249

2009 2008 25,404,479 4,443,901 1,124,642 2,520,744

2010 2009 21,227,750 4,027,426 882,384 2,536,232

2011 2010 17,691,626 3,887,290 812,334 2,453,435

2012 2011 16,939,273 3,669,947 771,043 2,376,466

2013 2012 16,477,891 3,556,689 761,194 2,462,136

2014 2013 17,276,800 3,559,058 795,015 2,525,934

Source: Manatee County Property Appraiser

(1) Taxable value of property subject to direct tax rate.(2) Personal property includes furniture, fixtures, tools, machinery, equipment, etc. and is taxed at various rates.(3) Refer to pages 153 and 154 for a detail of the Total Direct Tax Rate.(4) Estimated Actual Value represents the Total Net Taxable Assessed Value plus the value of a) tax exempt properties (i.e., governmental and institutional), b) exemptions (i.e. homestead exemption) and c) the 1992 Florida Constitution amendment known as "Save Our Homes" (or Amendment 10 Cap).

Manatee County, FloridaAssessed and Estimated Values of Property

Last Ten Fiscal Years(Amounts expressed in thousands)

Net Assessed Value of Real Property (1)

-147-

Total Total EstimatedDirect Actual

Assessed Value Tax Rate (3) Value (4)

$ 21,156,037 7.8788 $ 28,424,723 74.43%

24,759,022 7.7063 33,580,815 73.73%

30,735,678 7.5063 42,449,640 72.41%

34,453,086 6.3869 47,349,467 72.76%

33,493,766 6.3949 43,570,796 76.87%

28,673,792 6.4083 38,180,597 75.10%

24,844,685 6.4247 32,618,003 76.17%

23,756,729 6.4296 30,972,222 76.70%

23,257,910 6.4326 30,060,227 77.37%

24,156,807 6.4326 31,330,838 77.10%

Net TaxableActual Value

Taxable AssessedValue as Percentage

of Estimated

-148-

Total Tax Fiscal Tax Levy for

Year Year Fiscal Year (1) (4) Amount (1) (2)

2005 2004 $ 177,096 $ 170,682 96.38%

2006 2005 203,156 196,309 96.63%

2007 2006 245,455 236,989 96.55%

2008 2007 234,771 226,446 96.45%

2009 2008 213,749 208,502 97.55%

2010 2009 196,043 188,441 96.12%

2011 2010 169,938 163,616 96.28%

2012 2011 162,715 156,857 96.40%

2013 2012 159,669 154,031 96.47%

2014 2013 166,094 160,149 96.42%

(1) Property tax levies, based on assessed values as of January 1st, become due and payable on November 1st of each year. A four percent discount is allowed if the taxes are paid in November, with the discount declining by one percent each month thereafter. Accordingly, taxes collected will never be 100 percent of the tax levy. Taxes become delinquent on April 1st of each year and tax certificates for the full amount of any unpaid taxes and assessments must be sold no later than June 1st of each year. Collections received subsequent to the tax sales are remitted by the Tax Collector directly to the certificate holders. (2) Collections in subsequent years include delinquent taxes received, less refunds issued due to tax roll corrections.(3) Source: Manatee County Tax Collector(4) Source: Manatee County Property Appraiser

Percentage of Levy

Fiscal Year of the LevyCollected within the

Manatee County, FloridaProperty Tax Levies and Collections

Last Ten Fiscal Years(Amounts expressed in thousands)

-149-

Collection in Subsequent Years (2) (3) Amount Percentage of Levy

$ 15 $ 170,697 96.39%

57 196,366 96.66%

70 237,059 96.58%

144 226,590 96.52%

911 209,413 97.97%

642 189,083 96.45%

409 164,025 96.52%

271 157,128 96.57%

121 154,152 96.54%

- 160,149 96.42%

Total Collections to Date

-150-

Assessed Gross

Taxpayer Value Tax Ranking

Florida Power and Light Company $ 825,542 3.42% $ 12,728 1

Tropicana Products, Inc. 366,826 1.52% 6,325 2

Gulfstream Natural Gas System LLC 190,616 0.79% 2,891 3

Manatee Memorial Hospital 113,790 0.47% 2,192 4

Gulf Coast Factory Shops 126,233 0.52% 1,858 5

Verizon Florida, Inc. 105,107 0.43% 1,703 6

Mosaic Fertilizer LLC 110,405 0.46% 1,673 7

Peace River Electric Co Op, Inc. 94,404 0.39% 1,433 8

Wal-Mart Stores, Inc. 76,731 0.32% 1,331 9

HCA Health Services of Florida, Inc. 49,216 0.20% 1,007 10

Bright House Networks - - - -

Bealls' Inc - - - -

Simon Capital Limited Partnership - - - -

$ 2,058,870 8.52% $ 33,141

(1) Percentage of total net assessed value is calculated using total net taxable assessed value on page 148.

Source: 2014 - Manatee County Property Appraiser; 2005 - Manatee County Tax Collector

Assessed

Value (1)

Fiscal Year 2014Percentageof Total Net

Manatee County, FloridaPrincipal Property TaxpayersCurrent and Nine Years Ago

(Amounts expressed in thousands)

-151-

Fiscal Year 2005

Assessed Gross

Value Tax Ranking

$ 284,319 1.34% $ 5,079 2

312,008 1.48% 7,172 1

134,291 0.63% 2,333 4

54,470 0.26% 1,166 6

71,829 0.34% 1,288 5

130,853 0.62% 2,371 3

- - - -

- - - -

43,479 0.21% 859 10

- - - -

54,396 0.26% 1,157 7

55,279 0.26% 1,094 8

48,052 0.23% 926 9

$ 1,188,976 5.63% $ 23,445

of Total NetAssessed

Value (1)

Percentage

-152-

2014 2013 2012 2011 2010

Direct Rates County Operating General Operation Fund 5.4750 5.4707 5.4707 5.4791 5.3929 Transportation Trust Fund 0.2425 0.2446 0.2625 0.2625 0.3487 Library Operating Fund 0.2485 0.2507 0.2328 0.2244 0.2244 Children's Service Fund 0.3333 0.3333 0.3333 0.3333 0.3333 Debt 0.1333 0.1333 0.1303 0.1254 0.1090 Total 6.4326 6.4326 6.4296 6.4247 6.4083

Overlapping Rates (1)

School Board 7.5720 7.5890 7.9600 7.5910 7.5410

Tax Districts (2) 0.5498 0.5608 0.5608 0.6888 0.6878

Unincorporated Municipal Service Tax 0.6109 0.6109 0.6109 0.6109 0.6109County Millage Paid by

County Taxpayers 15.1653 15.1933 15.5613 15.3154 15.2480

Ad Valorem Fire Districts Cedar Hammock Fire Rescue 1.0000 1.0000 1.0000 1.0000 1.0000 East Manatee Fire Rescue 0.8000 0.8000 0.8000 0.8000 0.8000 Southern Manatee Fire Rescue 1.0193 1.0405 1.0000 1.0000 1.0000 Total 2.8193 2.8405 2.8000 2.8000 2.8000

Other (3) 5.0546 5.2546 4.6801 4.5446 4.2546

Municipalities Anna Maria, City of 2.0500 2.0500 2.0500 1.7882 1.7882 Bradenton Beach, City of 2.3329 2.3329 2.1359 2.1539 2.1539 Bradenton, City of 5.8976 5.4356 5.2002 4.9452 4.2843 Holmes Beach, City of 1.7500 1.7500 1.7500 1.7500 1.7549 Longboat Key, Town of 2.1320 1.9436 1.9549 1.9588 2.3236 Palmetto, City of 5.7171 5.2171 5.1185 4.6662 4.6662Total Direct and Overlapping 42.9188 42.0176 41.2509 39.9223 39.2737

(1) Overlapping rates are those of local and county governments that apply to property owners within Manatee County. Not all overlapping rates apply to all Manatee County property owners (i.e., the rates for tax districts apply only to the portion of the government's property owner whose property is located within the geographic boundaries of the special district).(2) Includes Southwest Florida Water Management, Mosquito Control and West Coast Inland Navigation districts.(3) Palm Aire Landscaping Special District and Palms of Terra Ceia Special District.

Source: Manatee County Tax Collector

Manatee County, FloridaDirect and Overlapping Property Tax

Last Ten Years(millage)

Year Taxes

-153-

2009 2008 2007 2006 2005

5.3389 5.3143 6.2635 6.3958 6.52920.3843 0.4456 0.5666 0.5878 0.58780.2428 0.2061 0.2387 0.2550 0.27420.3333 0.3333 0.3333 0.3333 0.33330.0956 0.0876 0.1042 0.1344 0.15436.3949 6.3869 7.5063 7.7063 7.8788

7.3720 7.6660 7.6140 7.9330 7.9990

0.6832 0.6780 0.7368 0.7569 0.7710

0.6109 0.6109 0.7274 0.7274 0.7274

15.0610 15.3418 16.5845 17.1236 17.3762

1.0000 1.0000 1.0000 1.0000 1.00000.8000 0.8000 0.8000 0.8000 0.80001.0000 1.0000 1.0000 0.8000 0.80002.8000 2.8000 2.8000 2.6000 2.6000

4.2546 4.2546 4.5400 4.7900 4.7900

1.7882 1.7882 2.0000 2.0000 2.00002.2579 2.2579 2.4878 2.4902 2.49324.2843 4.1134 4.7500 4.7500 4.75001.5989 1.5989 1.8000 1.9000 2.00002.2483 2.1362 2.1316 2.3075 2.43774.6662 4.6662 5.1645 5.1645 5.1645

38.9594 38.9572 42.2584 43.1258 43.6116

Are Payable

-154-

Computation of Direct and Overlapping Debt (1)

Net Revenue, General

Obligation

and Note PercentagePayable Applicable to This

Governmental Unit Governmental Unit

Direct:Manatee County, Florida $ 97,627 $ 4,605 $ 5,984 $ 108,216 100%

Overlapping:Overlapping debt for governmental entities within Manatee County is not presented.

Computation of Legal Debt Margin (2)

The constitution of the State of Florida, Florida Statute 200.181 and Manatee County set no legal debt limit.

Sources: 1) Manatee County Government 2) Florida Statutes

BondsOutstanding

Bonded Debt

OutstandingBonded DebtOutstanding

Note PayableOutstanding

Manatee County, FloridaSeptember 30, 2014

(Amounts expressed in thousands)

RevenueGeneral

Obligation Governmental

-155-

Manatee County

Florida

GeneralFiscal Obligation Revenue Notes LoansYear Bonds Bonds Payable Payable

2005 $ 25,205 $ 117,247 $ - $ 405

2006 23,130 170,977 - 285

2007 21,015 162,187 - 27,435

2008 18,860 152,967 - 21,413

2009 16,655 143,412 - -

2010 14,385 133,343 - -

2011 12,045 122,780 - -

2012 9,630 112,230 - -

2013 7,120 101,750 5,984 -

2014 (2) 4,605 97,627 5,984 -

(1) Refer to page 158 for detail of population and per capita personal income. Per capita information is not expressed in thousands.(2) Details regarding Manatee County's outstanding debt can be found in Note 10 of the financial statements.

Governmental Activities

Manatee County, FloridaRatios of Outstanding Debt by Type

Last Ten Fiscal Years(Amounts expressed in thousands)

-156-

PercentageRevenue Notes Loans Capital of Personal PerBonds Payable Payable Leases Total Income (1) Capita (1)

$ 139,827 $ - $ 21,364 $ - $ 304,048 2.97% $ 1,012

176,323 - 20,873 744 392,332 3.57% 1,261

162,874 - 29,539 676 403,726 3.43% 1,278

148,818 - 30,720 59 372,837 2.73% 1,153

134,144 - 29,877 - 324,088 2.27% 981

118,826 - 30,969 - 297,523 2.23% 935

181,135 - 29,986 - 345,946 2.72% 1,067

163,298 800 28,985 - 314,943 2.56% 952

167,825 499 6,929 - 290,107 2.15% 869

159,910 3,453 2,809 - 274,388 1.74% 813

Business-type Activities

-157-

Manatee County, FloridaDemographic and Economic Statistics

Last Ten Fiscal Years

2005 300,298 $ 34.1 $ 10,225,747 43 42,350 3.2%

2006 311,102 35.3 10,985,634 43 42,200 2.7%

2007 315,890 37.3 11,782,065 43 42,500 4.2%

2008 323,374 42.3 13,676,780 43 42,500 7.4%

2009 330,201 43.2 14,279,542 43 42,500 12.7%

2010 318,176 42.0 13,352,892 43 43,000 12.6%

2011 324,168 39.2 12,719,935 46 44,175 10.9%

2012 330,862 37.2 12,308,066 46 45,050 9.0%

2013 333,687 40.5 13,514,324 46 45,800 7.2%

2014 337,546 46.7 15,763,398 46 46,800 6.1%

Sources: (1) University of Florida and BEBR Projections (2) Information from U.S. Bureau of Economic Analysis and estimated from 2005 through 2014 based upon historical growth. (3) Personal income is a calculated amount based on population and per capita personal income. (4) U.S. Census - new median age is only reported every ten years. (5) School Board of Manatee County (6) Florida Department of Labor and Employment Security

Median Age (4)

School Enrollment (5)

Unemployment Rate (6)

Per Capita Income (in

thousands) (2)Population (1)

Personal Income (in

thousands) (3)

Fiscal Year

-158-

Manatee County

Florida

Employer Employees (1) Rank

Manatee County School Board 5,500 1 3.84%Beall's Inc. 1,924 2 1.34%Manatee County Government 1,748 3 1.22%Manatee Memorial Hospital 1,445 4 1.01%Tropicana Products, Inc. 1,200 5 0.84%Manatee County Sheriff's Department 1,120 6 0.78%Blake Medical Center 1,100 7 0.77%Publix 875 8 0.61%IMG Academies 564 9 0.39%State College of Florida Manatee Sarasota 472 10 0.33%Hoverround - - -Wellcraft Marine - - -City of Bradenton - - -

Total number of individuals employed within Manatee County (2) 143,093

Sources: 1) Manatee Chamber of Commerce: Economic Development Council, Manatee County Government and Manatee County Sheriff's Department. 2) Florida Department of Economic Opportunity

2014

Employment

Percentageof Total County

Manatee County, FloridaPrincipal Employers

Current and Nine Years Ago

-159-

Rank

4,528 1 3.24%1,600 4 1.15%1,839 2 1.32%1,300 5 0.93%1,800 3 1.29%1,138 7 0.81%1,200 6 0.86%

- - -- - -- - -

1,133 8 0.81%572 9 0.41%552 10 0.40%

139,673

2005Percentage

of Total CountyEmploymentEmployees (1)

-160-

2014 2013 2012General government

County residents per employee (number) (1) 193 193 194 Information system services -

computers and printers maintained (number) 2,626 2,445 2,347 Library materials usage by patrons (units in thousands) 3,520 3,166 2,615 Library programs (number) 2,575 2,475 2,660 Project management projects (number) 149 177 163 Project management projects (thousands of dollars) 63,378 47,805 31,753

Public safety911 calls (number) 247,696 229,949 234,206 Emergency (ambulance) responses (number) 42,185 39,857 38,510 Code enforcement complaints (number) 10,345 10,605 10,632 Building permits issued (number) 21,964 17,946 14,411 Construction value (millions of dollars) 723 654 440

Physical environmentGrants received (number) 130 156 163 Grants received (dollars in thousands) 31,125 37,045 32,285 Protected land acquisition (acres) - 150 -

Transportation Roads graded (miles) 2,582 2,664 2,766 Rights-of-way cleared (linear yds.) 379,822 319,568 322,952

Economic environmentGrant expenditures (dollars in thousands) 32,684 35,136 28,751

Culture and recreationParticipants in programs (number) (2) 544,955 575,530 535,252

Water and sewerWater customers (number) 110,051 107,018 104,430 Average daily water production (millions of gals.) 37.00 36.72 37.32 Reclaimed water customers (number) 4,014 3,272 2,772 Average daily reclaimed water production (millions of gals.) 13.00 14.90 15.79 Sewer customers (number) 94,900 92,760 90,989 Average daily sewage treated (millions of gals.) 22.00 22.20 21.13 Water meters installed/new accounts (number) 2,506 4,976 7,905

Port AuthorityCargo processed, import and export:

Liquid bulk cargoes (tons) 363 515 524 Dry bulk cargoes (tons) 977 1,620 1,222 General cargoes (tons) 688 514 542

Solid wasteWaste for landfill (tons) 293,392 281,166 263,249 Waste recycled at landfill (tons) 32,687 32,887 36,748 Materials recycled (tons) (3) 279,494 232,061 159,503 Solid waste diverted from landfill (percentage) (3) 48% 43% 35%

Manatee County, FloridaOperating Indicators by Function/Program

Last Ten Fiscal Years

-161-

2011 2010 2009 2008 2007 2006 2005

188 177 177 161 157 157 163

2,428 2,651 2,532 2,517 2,402 2,072 1,975 2,395 2,434 2,336 2,372 2,382 2,214 1,491 2,617 2,571 2,293 2,619 2,710 2,506 2,643

258 288 371 251 264 242 247 61,779 93,792 65,766 63,922 83,155 61,693 77,693

228,907 219,869 225,813 234,559 222,132 229,213 213,407 37,356 36,147 35,100 34,732 34,368 36,519 36,705 10,291 10,154 8,069 11,447 12,701 12,207 10,826 13,173 12,694 9,905 12,315 15,430 18,347 21,121

404 327 235 429 620 1,078 1,303

178 187 172 175 181 178 167 45,603 32,272 29,559 33,700 39,533 33,137 50,116

199 - - 200 175 - 376

3,300 3,384 3,087 3,452 4,000 4,077 4,227 325,000 267,730 326,055 433,966 653,000 652,945 537,121

44,710 39,338 29,185 32,234 36,392 36,352 45,395

527,574 520,350 652,220 878,368 979,727 535,194 635,714

103,091 96,113 95,349 94,446 93,375 91,866 88,369 34.30 36.48 35.40 43.00 44.40 45.02 41.67 2,550 2,367 2,205 1,996 1,619 1,159 945 13.31 10.80 10.03 9.00 12.75 13.80 11.57

89,745 88,758 87,723 86,875 85,890 83,727 79,936 18.98 21.24 18.37 21.00 21.40 24.36 23.00 6,458 5,533 5,949 6,617 7,896 7,504 7,181

857 1,350 1,160 1,105 1,519 1,478 1,783 1,314 1,366 1,340 1,550 1,887 2,552 2,579

527 688 716 747 1,038 1,223 1,190

251,402 275,235 272,944 318,335 337,290 371,741 380,452 41,711 26,832 20,543 33,651 36,640 50,727 50,309

130,616 160,188 194,000 230,000 240,297 176,412 203,215 34% 31% 40% 40% 40% 39% 41%

(Continued)

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2014 2013 2012Transit

Bus routes (miles) 243 243 243 Passenger trips (number in thousands) 1,824 1,781 1,740

StormwaterRainfall (inches) 54.01 64.83 57.08 Stormwater ditches/canals cleaned (linear feet) (4) 112,948 71,469 138,993

Golf coursesRounds of 9-hole golf (number) 91,990 93,857 112,765

Convention and Visitors BureauBed tax receipts (gross dollars in thousands) 10,441 8,918 8,065

Civic CenterEvents held (number) 294 298 245

Constitutional officers: Clerk of Circuit Court

Teen court participants (number) 409 425 356 Child support collections (dollars in thousands) 27,310 27,443 28,174 Pages recorded (number) 368,854 427,576 361,073 Documents recorded (number) 116,467 128,246 113,218

Tax CollectorTax deeds sold (number) 67 30 77 Tax certificates sold (number) 3,976 4,205 5,097

Property AppraiserValue Adjustment Board petitions filed (number) 485 336 378 Parcels in county (number) 205,213 204,860 204,346

SheriffCalls for service (number) 350,178 314,070 307,664 Arrests (number) 11,650 12,071 12,510 Law enforcement officers (number) 494 474 470

Corrections officers (number) 220 197 219 County residents per officer (number) (5) 473 497 480

Supervisor of ElectionsRegistered voters (thousands) 204 216 209 Polling places (number) 70 99 113

(1) County residents per employee is derived from total county population on page 158 and totalcounty government employees on page 169.

(2) The large increase in participants in programs from 2006 to 2007 is due to increased tournamentparticipation and an increase in league teams. Also a new methodology of recording thenumber of participants was put in place for fiscal years 2007 and 2008, which counted eachparticipant in each program. The number of participants for fiscal years 2003 through 2006 only counted the participant once even if he or she was registered for multiple activities.

(3) DEP reporting for prior calendar year. Beginning with 2012 these statistics are estimates. (4) The increase in 2007 is due to non-recurring canal dredging for some of the larger canal systems.(5) Residents per officer is derived from total county population on page 158 and includes law

enforcement officers and corrections officers.

Manatee County, FloridaOperating Indicators by Function/Program - Continued

Last Ten Fiscal Years

-163-

2011 2010 2009 2008 2007 2006 2005

243 243 243 243 180 180 180 1,596 1,494 1,524 1,524 1,372 1,467 1,404

38.60 58.81 47.29 50.08 40.56 53.46 61.15 70,997 106,394 81,804 89,919 173,920 75,701 77,169

106,221 95,795 109,990 117,696 122,678 124,691 129,730

6,971 6,368 5,138 5,017 5,045 4,793 4,555

250 284 295 340 435 470 471

518 576 611 612 641 391 415 29,038 27,272 26,203 26,422 24,777 25,361 24,264

315,481 319,321 311,200 368,180 567,715 746,442 825,561 105,554 110,837 104,836 116,768 143,660 167,951 184,322

27 25 12 9 16 18 15 5,661 7,250 7,989 7,098 3,546 2,455 2,108

545 771 1,154 706 364 307 316 203,295 203,600 203,403 201,720 194,393 184,090 178,381

304,889 266,023 245,408 228,418 207,131 196,459 191,506 13,238 14,465 14,393 13,579 13,993 14,518 14,061

470 464 463 461 446 434 414 212 212 203 197 196 231 262 475 471 496 491 492 468 444

202 203.5 201.2 203.3 192.1 198.4 192.6 127 127 136 136 136 137 137

-164-

2014 2013 2012 2011

General governmentFacilities owned/leased (sq. ft.) (8) 675,791 658,131 652,681 647,059 Libraries (sq. ft.) (9) 110,927 110,927 110,927 105,350 Library materials (units) 453,280 470,567 463,922 467,338 Judicial Center (sq. ft.) (3) 257,467 257,467 257,467 257,467 Historic Courthouse (sq. ft.) (2) 90,175 90,175 90,175 90,175

Public safetyEMS units (number) 34 34 34 34 EMS stations (number) 17 17 17 17 Facilities owned/leased (sq. ft.) (3)(7) 114,800 114,800 114,800 114,800

Physical environmentProtected lands (acres) 30,000 30,000 30,000 30,000 Beaches (miles) 6.9 6.9 6.9 6.9

TransportationPaved roads (center line miles) 1,367 1,364 1,358 1,350 Unpaved roads (center line miles) 65 68 70 80 Service vehicles (number) 1,335 1,323 1,326 1,326

Culture and recreationParks (acres) 1,670 1,670 1,670 1,670 Athletic fields (number) 95 92 92 92

Water and sewerWater plant storage capacity (millions of gals./day)(5) 32 32 32 32 Sewer plant processing capacity (millions of gals./day)(6) 33.5 33.5 33.5 33.5

Solid wasteOpen landfill capacity (acres) 286 286 286 286 Used landfill capacity (percentage) 53% 51% 50% 49%Permanently closed landfill (acres) 30 30 30 30

TransitVehicles-bus/para/trolley (number) 59 58 58 64

Port AuthorityGround space (acres) 1,106 1,106 1,106 1,106 Berthing space (linear feet) 7,243 6,899 6,899 6,899 Covered chill storage space (sq. ft.) 207,000 207,000 207,000 207,000 Covered storage space (sq. ft.) 1,109,515 1,109,515 1,109,515 1,109,515

Manatee County, FloridaCapital Assets by Function/Program

Last Ten Fiscal Years

-165-

2010 2009 2008 2007 2006 2005

611,421 610,526 621,950 656,086 602,041 453,900 105,350 105,350 105,350 105,350 98,264 98,264 462,193 459,474 448,028 435,988 423,964 406,001 257,467 257,467 257,467 - - - 90,175 90,175 90,175 90,175 90,175 90,175

34 34 34 34 33 32 17 17 17 17 17 16

105,800 105,800 105,800 - - -

30,000 30,000 26,869 26,669 26,494 26,494 6.9 6.9 5.4 5.4 5.4 5.4

1,344 1,344 1,344 1,336 1,311 1,290 79 82.35 82.35 83 84.93 87.85

1,340 1,345 1,325 1,381 1,360 1,292

1,670 1,670 1,670 1,670 1,449 1,287 92 92 92 92 90 80

32 22 22 22 22 22

33.5 40.5 40.5 40.5 40.5 40.5

286 286 286 286 286 286 47% 46% 46% 44% 42% 39%30 30 30 30 30 30

67 67 67 66 58 40

1,106 1,106 1,106 1,106 1,101 1,100 6,702 6,702 6,702 6,702 6,702 6,447

202,000 202,000 202,000 202,000 202,000 202,000 1,109,478 1,109,478 1,109,478 1,109,478 937,000 861,000

(Continued)

-166-

2014 2013 2012 2011

Golf courses Two 18 hole courses (acres) 297 297 297 297 Civic center Civic center leaseable facilities (sq. ft.) 65,000 65,000 65,000 65,000 Crosley Estate facilities (sq. ft.) 11,500 11,500 11,500 11,500 Mobile stage (sq. ft.) 504 504 504 504 Constitutional officers: Clerk of Circuit Court Facilities - owned/leased (sq. ft.) (2)(8) 5,769 21,921 21,921 39,900 Facilities (number) 1 2 2 6 Property Appraiser Facilities - owned/leased (sq. ft.) (10) 21,626 13,787 13,787 13,787

Facilities (number) 1 1 1 1 Tax Collector Facilities - owned/leased (sq. ft.) 35,047 35,047 35,047 35,047 Facilities (number) 4 4 4 4 Sheriff Patrol vehicles (number) 299 289 313 317 Facilities - owned/leased (sq. ft.) (1) 652,754 644,754 644,754 632,954 Facilities - owned/leased (number) 6 6 6 6 Supervisor of Elections

Facilities - owned/leased (sq. ft.) (4) 28,230 25,611 25,611 25,611 Facilities (number) 2 2 2 2

(1) In 2007, four Sheriff facilities were included under general government, but in 2008 were

reclassified under Sheriff.

(2) In 2007 and previous years, the Historic Courthouse was included under Clerk of Circuit Court,

but in 2008 was reclassified under general government.

(3) In 2008, a newly constructed Judicial Center with approximately 257,467 square feet and an

Emergency Operations center with approximately 105,800 square feet were put into service under

Public Safety. In 2012, the Judicial Center was reclassified under General Government.

(5) In 2010, a new 10 million gallon storage tank was put into service at the water plant.

(6) The 2010 regulatory permit reduced the sewer plant processing capacity by 7 million gallons

per day.

(7) In 2011 a newly constructed Marine Rescue building was included under Public Safety.

(8) In 2012, the Clerk of Circuit Court vacated approximately 18,013 square feet of space, reclassified

to General Government. In 2014, the Clerk of Circuit Court vacated approximately 16,152 square

feet of space, reclassed to General Government.

(9) In 2012, the Rocky Bluff library relocated and increased by 5,577 square feet.

(10) In 2014, the Natural Resources department vacated approximately 7,839 square feet of space,

reclassifed to Property Appraiser.

Manatee County, FloridaCapital Assets by Function/Program - Continued

Last Ten Fiscal Years

(4) In 2008, the Supervisor of Elections moved into larger office spaces at the Desoto Center.

-167-

2010 2009 2008 2007 2006 2005

297 297 297 297 297 297

65,000 65,000 65,000 65,000 65,000 65,000 11,500 11,500 11,500 11,500 11,500 11,500

504 504 504 504 504 504

39,900 70,110 79,336 188,183 188,183 184,145 6 6 8 8 8 8

13,787 13,787 13,787 13,787 13,787 13,787

1 1 1 1 1 1

33,487 33,487 33,487 33,487 33,487 32,446 4 4 4 4 4 4

315 320 310 315 314 305

632,954 614,035 614,035 511,762 511,762 511,762 6 6 6 6 6 6

25,611 25,611 25,611 6,495 6,495 6,495 2 2 2 2 2 2

-168-

2014 2013 2012 2011 2010

General government 318 317 311 309 329Public safety 313 307 293 285 300Physical environmental 95 83 92 91 92Transportation 157 160 147 150 150Economic environment 34 30 32 32 32Human services 43 45 43 46 47Culture and recreation 164 166 164 155 160Water and sewer 367 369 363 367 372Port Authority 75 72 74 79 80Transit 112 112 109 100 101Stormwater 33 31 33 27 26Golf courses - - - 35 35Civic center 37 35 42 58 76 Total county government 1,748 1,727 1,703 1,734 1,800

Constitutional Officers: Clerk of Court 269 271 271 273 276 Property Appraiser 53 51 51 51 51 Tax Collector 99 100 105 99 91 Sheriff 1,120 1,092 1,095 1,096 1,072 Supervisor of Elections 18 16 21 21 20 Total government-wide employees by function 3,307 3,257 3,246 3,274 3,310

Source: Manatee County Government

Manatee County, FloridaFull-time Equivalent Government-wide Employees by Function

Last Ten Fiscal Years

-169-

2009 2008 2007 2006 2005

350 377 365 362 356305 305 321 324 31696 163 152 119 98

161 173 172 148 15329 26 23 28 2150 49 56 55 54

173 192 206 216 216378 369 364 361 32676 79 83 87 86

104 106 100 96 9224 26 34 30 3238 38 41 44 4680 100 90 105 43

1,864 2,003 2,007 1,975 1,839

281 306 307 306 29249 49 53 53 5378 82 78 93 94

1,067 1,086 1,102 1,115 1,13821 21 26 27 21

3,360 3,547 3,573 3,569 3,437

-170-

Paving Sewer

New Collections Total New Collections TotalFiscal Liens and Outstanding Liens and OutstandingYear Assessed Adjustments Assessments Assessed Adjustments Assessments

2005 $ - $ 279 $ 917 $ - $ 184 $ 589

2006 253 286 884 68 176 481

2007 79 234 729 115 118 478

2008 107 150 686 40 113 405

2009 215 224 677 252 150 507

2010 100 169 608 - 71 436

2011 41 110 539 - 51 385

2012 684 94 1,129 119 69 435

2013 - 532 597 - 72 363

2014 - 173 424 - 80 283

Manatee County, FloridaSpecial Assessment Collections

Last Ten Fiscal Years(Amounts expressed in thousands)

-171-

AnnualName and Title of Official Salary(1)

Board of County Commissioners:

Larry Bustle - Chairman $ 78,348

Michael Gallen - Vice Chairman 78,348

Vanessa Baugh - Member 78,348

Betsy Benac - Member 78,348

John Chappie - Member 78,348

Robin DiSabatino - Member 78,348

Carol Whitmore - Member 78,348

Richard B. Shore - Clerk of Circuit Court and Comptroller 136,819

W. Brad Steube - Sheriff 145,735

Michael S. Bennett - Supervisor of Elections 117,525

Charles Hackney - Property Appraiser 136,819

Ken Burton, Jr. - Tax Collector 136,819

Source: Manatee County Government

(1) Office of Economic and Demographic Research, State of Florida

Manatee County, FloridaSalaries of Principal Officials

September 30, 2014

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General GeneralObligation Obligation

Fiscal Refunding RefundingYear Bonds 2003 Bonds 2014

2005 $ 25,205 $ - 0.119% 83.93

2006 23,130 - 0.093% 74.35

2007 21,015 - 0.068% 66.53

2008 18,860 - 0.055% 58.32

2009 16,655 - 0.050% 50.44

2010 14,385 - 0.050% 45.21

2011 12,045 - 0.048% 37.16

2012 9,630 - 0.041% 29.11

2013 7,120 - 0.031% 21.34

2014 - 4,605 0.019% 13.64

(1) Refer to page 148 for Total Net Taxable Assessed Value of Property.(2) Refer to page 158 for population data.(3) In Fiscal Year 2014, the General Obligation Refunding Bonds 2003 were refunded by the General Obligation Refunding Bonds 2014.

Manatee County, FloridaRatio of General Bonded Debt

Last Ten Fiscal Years(Amounts expressed in thousands)

Capita(expressedin dollars) (2)Property (1)

Percentage ofNet Taxable

Value of

Per

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Ratio of DebtService to

Other Total General GeneralTax Debt Debt Government GovernmentYear Principal Interest Service Service (1) Expenditures Expenditures

2005 $ 12,715 $ 6,247 $ 124 $ 19,086 $ 282,090 6.77%

2006 8,050 6,640 99 14,789 306,657 4.82%

2007 20,842 9,656 198 30,696 343,993 8.92%

2008 17,397 8,716 258 26,371 347,400 7.59%

2009 33,173 8,002 169 41,344 358,320 11.54%

2010 12,180 7,124 285 19,589 321,041 6.10%

2011 12,903 6,693 91 19,687 318,180 6.19%

2012 13,275 6,211 92 19,578 310,856 6.30%

2013 14,250 4,080 876 19,206 311,372 6.17%

2014 20,395 5,212 171 25,778 335,055 7.69%

(1) Debt service includes principal and interest on general obligation bonds, revenue bonds and other loans.

Manatee County, FloridaRatio of Annual Debt Service Expenditures for Governmental Bonded

Debt to Total General Government ExpendituresLast Ten Fiscal Years

(Amounts expressed in thousands)

-174-

Federal Net RevenueFiscal Direct AvailableYear Revenue (1) Payments (2) Expenses (3) Debt Service (2) Principal Interest Total Coverage

2005 $ 113,785 - $ 84,220 $ 29,565 $ 6,110 $ 6,134 $ 12,244 2.41

2006 128,080 - 92,031 36,049 6,335 6,024 12,359 2.92

2007 136,046 - 101,908 34,138 11,112 7,991 19,103 1.79

2008 137,351 - 108,865 28,486 11,443 7,645 19,088 1.49

2009 133,110 - 95,988 37,122 11,756 7,345 19,101 1.94

2010 128,023 - 95,071 32,952 12,088 7,011 19,099 1.73

2011 131,620 1,426 86,606 46,440 12,445 10,472 22,917 2.03

2012 138,949 1,722 94,349 46,322 12,915 11,119 24,034 1.93

2013 141,843 1,970 95,356 48,457 10,523 13,533 24,056 2.01

2014 145,686 1,752 105,726 41,712 7,050 7,396 14,446 2.89

(1) "Gross Revenue" shall mean all rates, fees, charges, assessments or other income received by the County or accrued to the County's water, sewer, stormwater and solid waste systems.

(2) In December 2010, the County issued Build America Bonds and Recovery Zone Economic Development Bonds, which qualified for Federal Direct Payments (FDP) of 35% and 45% respectively, of the coupon interest payable to the bond owners. These payments are permitted as Net Revenue Available for Debt Service. $165 of eligible Federal Direct Payments for fiscal year 2012 were not received before year end, so are excluded from the coverage test for fiscal year 2012. This amount was received and

(3) "Expenses" exclude depreciation of capital assets and amortization of deferred charges which are reflected as expenses in the financial statements.

included in the coverage test for fiscal year 2013.

Manatee County, Florida Manatee County Public Utilities System

Schedule of Revenue Bond Coverage Last Ten Fiscal Years

(Amounts expressed in thousands)

Gross Debt Service Requirement

-175-

FiscalYear

2005 $ 12,427 $ 7,918 $ 4,509 $ 2,459 $ - 1.83

2006 14,015 9,054 4,961 2,459 - 2.02

2007 13,058 8,978 4,080 2,459 - 1.66

2008 11,793 8,999 2,794 2,459 - 1.14

2009 11,754 8,387 3,367 2,459 - 1.37

2010 12,711 10,002 2,709 2,459 - 1.10

2011 10,720 8,587 2,133 2,459 - 0.87

2012 11,458 8,411 3,047 2,459 - 1.24

2013 11,165 8,079 3,086 - 2,020 1.53

2014 11,512 8,407 3,105 - 2,244 1.38

(1) "Gross Revenue" shall mean all rates, fees, charges, assessments or other income received by the County or accrued to the County or any agency thereof in control of the management and operation of said Port Authority.

(2) "Expenses" exclude depreciation of capital assets and amortization of deferred charges which are reflected as expenses in the financial statements.

(3) The Port Authority Revenue Refunding Bonds, Series 2012A and 2012B changed the coverage test to "Annual Debt Service" beginning with fiscal year 2013.

(4) The Port Authority has covenanted in the current resolution authorizing bonds that net revenues are required to be at least equal to one hundred ten percent of the annual debt service requirement for the bonds. Prior to fiscal year 2013, the Port Authority had covenanted in the resolutions authorizing the bonds that net revenues were required to be at least equal to one hundred thirty percent of the maximum annual debt service requirements for the bonds.

Expenses (2)

Net RevenueAvailable

Debt Service Coverage (4)

Manatee County, FloridaManatee County Port Authority

Schedule of Revenue Bond CoverageLast Ten Fiscal Years

(Amounts expressed in thousands)

Annual DebtService

Requirement (3)

GrossRevenue (1) Requirement

MaximumAnnual Debt

Service

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Excess (Deficit)

Net Revenue Debt Service Revenue Debt Service

Fiscal Available Requirements Available Requirements

Year Debt Service (1) Senior Debt (2) Debt Service SIB Loan

2008 $ 2,348 $ 2,935 $ (587) $ 275 (2.13)

2009 2,921 2,751 170 275 0.62

2010 2,281 2,545 (264) 275 (0.96)

2011 1,687 2,516 (829) 275 (3.01)

2012 2,599 2,488 111 275 0.40

2013 2,639 2,020 619 275 2.25

2014 2,658 2,244 414 275 1.51

received from or in connection with Special Purpose Facilities financed with Special Purpose

(4) There was no debt service requirement for this loan prior to fiscal year 2008.

allowance for depreciation.

(2) In fiscal year 2013, "Senior Debt" includes the Manatee County Port Authority Revenue

Refunding Bonds, Series 2012A and 2012B. Prior to fiscal year 2013, "Senior Debt" included

(3) The Port Authority has covenanted in the SIB loan agreement that net revenues available after

the SIB loan payments due in each fiscal year.

Manatee County, Florida

"Operating Expenses" which includes the current expenses, paid or accrued, of operation,

maintenance and ordinary repairs of the Port and the Port Facilities but shall not include any

Coverage (3)

payment of all senior and parity debt be at least equal to one hundred percent of the sum of

Bonds, and (e) capital contributions. "Net Revenue Available Debt Service" is reduced for

received or accrued by the Port Authority from the operation thereof, but shall not include (a)

and various loans with the Florida Local Government Finance Commission.

the Manatee County Port Authority Revenue Refunding Bonds, Series 1993B, 2002A and 2002B

sales tax funds, (b) non-ad valorem revenues, (c) restricted grants or donations, (d) revenues

Manatee County Port AuthoritySchedule of State Infrastructure Bank (SIB) Loan Coverage

Last Seven Fiscal Years (4)

(Amounts expressed in thousands)

(1) "Net Revenue Available Debt Service" shall include all rates, fees, charges, or other income,

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RevenueRevenue Revenue Refunding and Revenue

Improvement Refunding Improvement Revenue Improvement TotalFiscal Bonds, Bonds, Bonds, Improvement Bonds, Annual DebtYear Series 2006 Series 2010 Series 2013 Note, 2013 Series 2014 Service (1)

2015 $ 4,465 $ 1,712 $ 8,123 $ 345 $ 287 $ 14,9322016 4,462 1,721 8,126 357 472 15,1382017 - 1,719 12,778 368 480 15,3452018 - - 12,581 380 444 13,4052019 - - 12,604 392 502 13,4982020 - - 12,782 403 518 13,7032021 - - 8,865 415 395 9,6752022 - - 3,177 428 407 4,0122023 - - 3,179 443 419 4,0412024 - - 3,181 456 432 4,0692025 - - 3,176 469 445 4,0902026 - - 2,911 484 449 3,8442027 - - 2,907 499 464 3,8702028 - - 3,172 515 477 4,1642029 - - 3,178 376 492 4,0462030 - - - 546 445 9912031 - - - 563 523 1,0862032 - - - 581 539 1,1202033 - - - 599 555 1,1542034 - - - - 553 553Total $ 8,927 $ 5,152 $ 100,740 $ 8,619 $ 9,298 $ 132,736

(1) The County has a contingent obligation to pay the Port Authority Revenue Refunding Bonds, Series 2012A and 2012B which arises if the Port Authority fails to pay the principal and/or interest on such bonds. The debt service on the Port Authority Bonds is not included in this table.

Manatee County, FloridaSchedule of Debt Service

Payable from Non-Ad Valorem Revenue SourcesSeptember 30, 2014

(Amounts expressed in thousands)

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Manatee County

Florida

2014 2013 2012 2011 2010

Permit fees $ 484 $ 561 $ 442 $ 441 $ 356State revenue sharing (1) 7,797 7,249 6,801 6,335 6,072Sheriff program reimbursements 97 97 559 607 90Mobile home licenses 276 258 273 244 294Communication service tax 3,817 3,457 3,508 3,525 3,6111/2 Cent sales tax 23,671 18,722 18,984 17,803 16,331Planning and zoning fees 2,970 2,014 1,702 1,134 1,110Elected officials excess fees 6,099 5,585 7,116 7,585 7,901Interest 446 413 469 1,084 1,973Charges for services 17,090 17,608 13,770 14,305 13,703Payments in lieu of taxes 9,685 3,340 3,340 3,340 3,340Tax increment refund 1,064 1,088 1,146 1,205 1,399Road assessments 72 61 65 64 95Indirect cost recovery 9,963 8,720 10,424 11,912 12,814Miscellaneous 3,819 4,376 3,790 3,484 3,180Non-revenue interfund transfers 6,175 9,860 5,767 4,681 4,269

Subtotal 93,525 83,409 78,156 77,749 76,538Fines & forfeitures (2) 2,358 1,305 661 688 634

Gas taxes (3) 18,333 17,867 17,987 17,482 17,574Net income (loss) - Manatee County Golf Course - - 23 (82) (133)Net income (loss) - Buffalo Creek Golf Course - - (548) 1 45Legally available revenues before General Operating & Maintenance Expense (O&M) 114,216 102,581 96,279 95,838 94,658Less General O&M not supported by Ad Valorem taxes (4) 95,046 86,324 81,919 80,485 79,422Net legally available revenues for debt service 19,170 16,257 14,360 15,353 15,236Beginning fund balances: (5)

General fund 74,194 93,062 97,607 116,219 116,402 Transportation trust fund 26,014 24,916 20,936 19,628 23,895Beginning cash balances - Golf Course Funds: Manatee County Golf Course - - 18 2 131 Buffalo Creek Golf Course - - - 2 2Total net legally available funds available for non-ad valorem commitments 119,378 134,235 132,921 151,204 155,666Less non-ad valorem commitments (6):

Manatee Valley Drainage Bonds - - - 7 6 1999 Revenue Refunding & Improvement Bonds - - - - 1,164 2000 Revenue Refunding Bonds - - - - 1,411 2004 Transportation Revenue Refunding and Improvement Bonds 2,940 2,944 4,933 4,946 4,945 2004 Revenue Improvement Bonds 1,651 1,655 3,180 3,181 3,178 2006 Revenue Improvement Bonds 4,463 4,467 5,682 5,683 5,683 2010 Revenue Refunding Bonds 2,568 2,579 2,817 2,908 - 2013 Revenue Refunding Bonds 3,719 3,716 - - - 2013 Revenue Improvement Note 220 18 - - -

Total net legally available funds for debt service and net position (7) $ 103,817 $ 118,856 $ 116,309 $ 134,479 $ 139,279

1) Includes guaranteed entitlements.2) Used primarily for criminal fees and costs.3) Gas taxes may be used only for certain transportation expenditures.4) General and municipal services fund expenditures times ratio of available revenue to total revenue.5) The county implemented GASB Statement 54 on Fund Balance Reporting in fiscal year 2011. Only the Unassigned Fund Balance portion is included in the Beginning Balances, effective fiscal year 2012.6) Includes all debt of the County payable in such years from non-ad valorem revenues with the exception of the County's Public Utilities System. Does not include debt which has been incurred subsequent to such years.7) Prior to fiscal year 2013, the County had a contingent obligation to pay the Port Authority Revenue Refunding and Improvement Bonds, Series 1993B, Revenue Refunding Series 2002A, 2002B and the Florida Local Government Finance Commission Loan which arises if the Port Authority fails to pay principal and/or interest on such bonds. In fiscal year 2013, the County has a contingent obligation to pay the Port Authority Revenue Refunding Bonds, Series 2012A and 2012B which arises if the Port Authority fails to pay principal and/or interest on such bonds.

Manatee County, FloridaNon-Ad Valorem Revenues Legally Available to Pay

Debt Service on Certain Bonds and Other IndebtednessLast Five Fiscal Years

(Amounts expressed in thousands)

-179-

GeneralObligation RevenueRefunding

Bonds of 2014 Series 2006Original authorization $ 7,275 $ 59,585Unissued - - Issued 7,275 59,585Retirements 2,670 26,650 Refunded - 24,635 Balance outstanding $ 4,605 $ 8,300

Date of issue January 8, 2014 September 13, 2006Principal payment date September 30 October 1Interest payment dates March-September April-OctoberDenominations (amounts not rounded) $1,000 $5,000

1.09% Maturity 5.00% MaturityInterest rates 2015-2018 2015-2016

Effective interest cost rate 1.0902% 4.0137%

Call feature N/A 2017-Maturity 100

Paying agent Manatee County TD BankFlorida Jacksonville, FL

(Amounts expressed in thousands)September 30, 2014

Bond Issues - DescriptionManatee County, Florida

Improvement

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Series 2010 Series 2014$ 14,210 $ 79,640 $ 6,482

- - - 14,210 79,640 6,4829,370 1,635 -

- - - $ 4,840 $ 78,005 $ 6,482

May 28, 2010 March 6, 2013 May 23, 2014April 1 October 1 January 1April-October April-October January$5,000 $5,000 $1,000

3.838% Maturity 5.00% Maturity 3.69% Maturity2015 2015-2016 2015-20344.69% Maturity 4.00% Maturity2016 20174.00% Maturity 5.00% Maturity2017 2018-2027

3.00% Maturity2028-2029

2.3235% 1.9806% 3.6895%

N/A 2023-Maturity 100 2019-Maturity 100

Regions Bank Regions Bank Manatee CountyOrlando, FL Orlando, FL Florida

Series 2013Refunding

RevenueRevenue

ImprovementRevenue Refunding and

Improvement

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Manatee County

Florida

Revenue RevenueRefunding Refunding

Series 2012A Series 2012BOriginal authorization $ 6,605 $ 33,730Unissued - - Issued 6,605 33,730Retirements 490 1,140Balance outstanding $ 6,115 $ 32,590

Date of issue November 7, 2012 November 7, 2012Principal payment date October 1 October 1Interest payment dates April-October April-OctoberDenominations (amounts not rounded) $5,000 $5,000

Interest rates 2.00% Maturity 3.00% Maturity2015 2015-20183.00% Maturity 2.00% Maturity2016-2019 20194.00% Maturity 2.25% Maturity2020 20202.00% Maturity 2.50% Maturity2021 20212.25% Maturity 3.00% Maturity2022 2022-20243.00% Maturity 3.25% Maturity2023 2025-20262.50% Maturity 3.50% Maturity2024 2027-20293.00% Maturity 3.625% Maturity2025-2029 20303.125% Maturity 3.75% Maturity2030-2031 2031-20323.25% Maturity 4.00% Maturity2032 2033-2042

Effective interest cost rate 3.7898%

Call feature N/A N/A

Paying agent Regions Bank Regions BankOrlando, FL Orlando, FL

3.8786%

Manatee County, FloridaBond Issues - Description

September 30, 2014(Amounts expressed in thousands)

Port Authority Bonds

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Revenue Revenue RevenueImprovement Improvement ImprovementSeries 2006 Series 2010A Series 2010B

Original authorization $ 44,895 $ 17,925 $ 45,300Unissued - - - Issued 44,895 17,925 45,300Retirements 20,345 - - Refunded - - - Balance outstanding $ 24,550 $ 17,925 $ 45,300

Date of issue September 13, 2006Principal payment date October 1 October 1 October 1Interest payment dates April-October April-October April-OctoberDenominations (amounts not rounded) $5,000 $5,000 $5,000

Interest rates 4.25% Maturity 5.951% Maturity 7.178% Maturity2015-2016 2015-2020 2015-20305.00% Maturity 6.151% Maturity 7.378% Maturity2017 2021 2031-20354.00% Maturity 6.351% Maturity2018 20225.00% Maturity 6.551% Maturity2019-2021 2023

6.701% Maturity20246.801% Maturity2025

Effective interest cost rate 4.0410% 4.1890% 4.0116%

Call feature 2016-Maturity 100 2020 Maturity 100 2020 Maturity 100

US Bank US BankPaying agent Jacksonville, FL New York, NY New York, NY

TD Bank

(Amounts expressed in thousands)September 30, 2014

December 29, 2010

Bond Issues - DescriptionManatee County, Florida

Public Utilities System Bonds

-183-

Revenue Revenue RevenueImprovement Improvement RefundingSeries 2010C Series 2010D Series 2011$ 6,720 $ 8,190 $ 22,650

- - - 6,720 8,190 22,650

- 2,245 1,885 - - -

$ 6,720 $ 5,945 $ 20,765

December 14, 2011October 1 October 1 October 1April-October April-October April-October$5,000 $5,000 $5,000

4.00%-5.00% Maturity 3.894% Maturity 3.00% Maturity2015-2017 2015 20153.50%-5.00% Maturity 4.798% Maturity 4.00% Maturity2018 2016 2016-20174.00%-5.00% Maturity 5.048% Maturity 5.00% Maturity2019 2017 2018-2023

3.6261% 4.3106% 2.6571%

N/A N/A N/A

US Bank US Bank Bank of New York Mellon Trust Co., N.A.New York, NY New York, NY Jacksonville, FL

December 29, 2010

Public Utilities System Bonds

-184-

Fiscal

Year Principal Interest Total2015 $ 2,780 $ 50 $ 2,8302016 590 20 6102017 600 13 6132018 635 7 642

$ 4,605 $ 90 $ 4,695

Fiscal

Year Principal Interest Total2015 $ 4,050 $ 415 $ 4,4652016 4,250 212 4,462

$ 8,300 $ 627 $ 8,927

Fiscal

Year Principal Interest Total2015 $ 1,540 $ 172 $ 1,7122016 1,615 106 1,7212017 1,685 34 1,719

$ 4,840 $ 312 $ 5,152

Manatee County, FloridaSchedule of Debt Service Requirements

September 30, 2014(Amounts expressed in thousands)

Revenue Improvement Bonds, Series 2006

Revenue Refunding Bonds, Series 2010

General Obligation Refunding Bonds of 2014

-185-

FiscalYear Principal Interest Total2015 $ 4,440 $ 3,683 $ 8,1232016 4,665 3,461 8,1262017 9,550 3,228 12,7782018 9,735 2,846 12,5812019 10,245 2,359 12,6042020 10,935 1,847 12,7822021 7,565 1,300 8,8652022 2,255 922 3,1772023 2,370 809 3,1792024 2,490 691 3,1812025 2,610 566 3,1762026 2,475 436 2,9112027 2,595 312 2,9072028 2,990 182 3,1722029 3,085 93 3,178

$ 78,005 $ 22,735 $ 100,740

FiscalYear Principal Interest Total2015 $ 142 $ 145 $ 2872016 238 234 4722017 255 225 4802018 228 216 4442019 295 207 5022020 322 196 5182021 210 185 3952022 230 177 4072023 251 168 4192024 273 159 4322025 296 149 4452026 311 138 4492027 337 127 4642028 363 114 4772029 391 101 4922030 359 86 4452031 450 73 5232032 482 57 5392033 516 39 5552034 533 20 553

$ 6,482 $ 2,816 $ 9,298

Revenue Improvement Bonds, Series 2014

Revenue Refunding and Improvement Bonds, Series 2013

Manatee County, FloridaSchedule of Debt Service Requirements

September 30, 2014(Amounts expressed in thousands)

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Manatee County

Florida

FiscalYear Principal Interest Total Principal Interest Total2015 $ 265 $ 179 $ 444 $ 620 $ 1,183 $ 1,803 2016 270 173 443 640 1,164 1,804 2017 280 165 445 655 1,145 1,800 2018 285 157 442 680 1,125 1,805 2019 295 148 443 695 1,105 1,800 2020 305 139 444 710 1,091 1,801 2021 315 127 442 730 1,075 1,805 2022 325 121 446 745 1,057 1,802 2023 330 114 444 770 1,034 1,804 2024 340 104 444 790 1,011 1,801 2025 350 95 445 815 988 1,803 2026 360 85 445 840 961 1,801 2027 370 74 444 870 934 1,804 2028 380 63 443 900 903 1,803 2029 395 51 446 925 872 1,797 2030 405 40 445 960 840 1,800 2031 415 27 442 1,000 805 1,805 2032 430 14 444 1,035 767 1,802 2033 - - - 1,515 728 2,243 2034 - - - 1,580 668 2,248 2035 - - - 1,640 605 2,245 2036 - - - 1,705 539 2,244 2037 - - - 1,775 471 2,246 2038 - - - 1,845 400 2,245 2039 - - - 1,920 326 2,246 2040 - - - 1,995 249 2,244 2041 - - - 2,075 169 2,244 2042 - - - 2,160 86 2,246

$ 6,115 $ 1,876 $ 7,991 $ 32,590 $ 22,301 $ 54,891

$6,605Series 2012A Bonds

$33,730Series 2012B Bonds

Manatee County, FloridaSchedule of Debt Service Requirements

September 30, 2014

Port Authority Revenue Refunding Bonds

(Amounts expressed in thousands)

-187-

FiscalYear Principal Interest Total2015 $ 3,065 $ 1,146 $ 4,2112016 3,195 1,015 4,2102017 3,330 879 4,2092018 3,495 713 4,2082019 3,635 573 4,2082020 3,820 391 4,2112021 4,010 201 4,211

$ 24,550 $ 4,918 $ 29,468

FiscalYear Principal Interest Total Principal Interest Total2015 $ - $ 1,150 $ 1,150 $ - $ 3,300 $ 3,3002016 - 1,150 1,150 - 3,300 3,3002017 - 1,150 1,150 - 3,300 3,3002018 - 1,150 1,150 - 3,300 3,3002019 - 1,150 1,150 - 3,300 3,3002020 2,880 1,150 4,030 - 3,300 3,3002021 2,995 978 3,973 - 3,300 3,3002022 3,115 794 3,909 - 3,300 3,3002023 3,240 596 3,836 - 3,300 3,3002024 3,380 384 3,764 - 3,300 3,3002025 2,315 157 2,472 1,210 3,300 4,5102026 - - - 3,675 3,213 6,8882027 - - - 3,820 2,950 6,7702028 - - - 3,975 2,675 6,6502029 - - - 4,130 2,390 6,5202030 - - - 4,295 2,094 6,3892031 - - - 4,460 1,785 6,2452032 - - - 4,645 1,456 6,1012033 - - - 4,830 1,113 5,9432034 - - - 5,030 757 5,7872035 - - - 5,230 386 5,616

$ 17,925 $ 9,809 $ 27,734 $ 45,300 $ 55,119 $ 100,419

Manatee County, FloridaSchedule of Debt Service Requirements

September 30, 2014

Public Utilities System Revenue Improvement Bonds

$17,925

(Amounts expressed in thousands)

$45,300

$44,895Series 2006 Bonds

Series 2010A Bonds Series 2010B Bonds

-188-

Principal Interest Total Principal Interest Total$ - $ 296 $ 296 $ 2,320 $ 267 $ 2,587

- 296 296 2,410 177 2,5871,310 296 1,606 1,215 61 1,2762,650 233 2,883 - - - 2,760 124 2,884 - - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

$ 6,720 $ 1,245 $ 7,965 $ 5,945 $ 505 $ 6,450

Series 2010C Bonds$8,190

Series 2010D Bonds$6,720

-189-

FiscalYear Principal Interest Total2015 $ 1,945 $ 958 $ 2,9032016 2,005 900 2,9052017 2,080 820 2,9002018 2,165 737 2,9022019 2,275 629 2,9042020 2,385 515 2,9002021 2,510 395 2,9052022 2,635 270 2,9052023 2,765 138 2,903

$ 20,765 $ 5,362 $ 26,127

Manatee County, FloridaSchedule of Debt Service Requirements

September 30, 2014(Amounts expressed in thousands)

Series 2011 Bonds

Public Utilities System Revenue Refunding Bonds

$22,650

-190-

FiscalYear Principal Interest Total2015 $ 127 $ 218 $ 3452016 143 214 3572017 160 208 3682018 178 202 3802019 197 195 3922020 215 188 4032021 235 180 4152022 257 171 4282023 281 162 4432024 305 151 4562025 329 140 4692026 357 127 4842027 385 114 4992028 415 100 5152029 291 85 3762030 473 73 5462031 508 55 5632032 545 36 5812033 583 16 599

$ 5,984 $ 2,635 $ 8,619

Interest is calculated at 3.67%.

FiscalYear Principal Interest Total Principal Interest Total2015 $ - $ 9 $ 9 $ 258 $ 93 $ 351 2016 - 9 9 267 84 351 2017 - 9 9 276 75 351 2018 - 9 9 285 66 351 2019 453 8 461 294 57 351 2020 - - - 304 47 351 2021 - - - 313 38 351 2022 - - - 324 27 351 2023 - - - 334 17 351 2024 - - - 345 6 351

$ 453 $ 44 $ 497 $ 3,000 $ 510 $ 3,510

Interest is calculated at 1.92%. Interest is calculated at 3.15%.

September 30, 2014(Amounts expressed in thousands)

Series 2014A Notes Series 2014B Notes

Revenue Improvement Note 2013 -General Government

Port Authority Revenue Refunding Notes

Manatee County, FloridaSchedule of Debt Service Requirements

-191-

FiscalYear Principal Interest Total2015 $ 219 $ 56 $ 2752016 223 52 2752017 228 47 2752018 232 43 2752019 237 38 2752020 242 33 2752021 246 29 2752022 251 24 2752023 256 19 2752024 262 13 2752025 267 8 2752026 146 3 149

$ 2,809 $ 365 $ 3,174

Florida Department of TransportationState Infrastructure Bank Loan - Port Authority

Interest is calculated at the rate of 2.00% per annum on the unpaid principal.

Manatee County, FloridaSchedule of Debt Service Requirements

September 30, 2014(Amounts expressed in thousands)

-192-

Muhly Grass, Muhlenbergia capiilaris and Sabal Palm, Sabal palmetto

Photos: Cathy Slusser

Muhly grass is naturally found in Florida’s pine flatwoods, coastal uplands and even along its highways, but these days it’s also a popular choice in home and commercial landscapes. In fall, Muhly grass produces fluffy pink to purple flower stalks that give the plant a distinctive and attractive appearance. The Sabal Palm is Florida’s state tree and is the signature tree of the Florida skyline. Their flowers and berries are vitally important to the survival of migratory birds and Florida’s indigenous wildlife species.

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INDEPENDENT AUDITOR’S 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

Honorable Members of the Board of County Commissioners Manatee County, Florida We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Manatee County, Florida (the “County”), as of and for the year ended September 30, 2014, and the related notes to the financial statements, which collectively comprise the County’s basic financial statements, and have issued our report thereon dated November 24, 2014. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the County’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County’s internal control. Accordingly, we do not express an opinion on the effectiveness of the County’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

-193a-

Compliance and Other Matters As part of obtaining reasonable assurance about whether the County’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

CERTIFIED PUBLIC ACCOUNTANTS

Bradenton, Florida November 24, 2014

-193b-

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM AND STATE PROJECT AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY OMB CIRCULAR A-133 AND THE FLORIDA SINGLE AUDIT ACT

Honorable Members of the Board of County Commissioners Manatee County, Florida Report on Compliance for Each Major Federal Program and State Project We have audited Manatee County, Florida (the “County”) compliance with the types of compliance requirements described in the OMB Circular A-133 Compliance Supplement and the requirements described in the State of Florida’s Department of Financial Services’ State Projects Compliance Supplement that could have a direct and material effect on each of the County’s major federal programs and state projects for the year ended September 30, 2014. The County’s major federal programs and state projects are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Management’s Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs and state projects. Auditor’s Responsibility Our responsibility is to express an opinion on compliance for each of the County’s major federal programs and state projects based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations and the Department of Financial Services’ State Projects Compliance Supplement. Those standards, OMB Circular A-133 and the Florida Single Audit Act require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program or state project occurred. An audit includes examining, on a test basis, evidence about the County’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program and state project. However, our audit does not provide a legal determination of the County’s compliance.

-194a-

Opinion on Each Major Federal Program and State Project In our opinion, the County, complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs and state projects for the year ended September 30, 2014. Report on Internal Control Over Compliance Management of the County is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered the County’s internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program and state project to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and state project and to test and report on internal control over compliance in accordance with OMB Circular A-133 and the Florida Single Audit Act, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the County’s internal control over compliance. A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program or state project on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program or state project will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program or state project that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of OMB Circular A-133 and the Florida Single Audit Act. Accordingly, this report is not suitable for any other purpose.

CERTIFIED PUBLIC ACCOUNTANTS

Bradenton, Florida November 24, 2014

-194b-

Federal/State Agency,Pass-through Entity CFDA Contract TotalFederal Program/State Project Number Grant Number

Department of Health and Human Services:Passed through Florida Department of Revenue:Child Support Enforcement FY13/14 93.563 CSLM3 $ 2,428,176 Child Support Enforcement FY14/15 93.563 CSLM3 (Amd #1) 818,443 Title IV-D Cooperative Agreement FY13/14 93.563 CD341 (Renewal) 608,081 Title IV-D Cooperative Agreement FY14/15 93.563 COC41 56,603 Total program 3,911,303

Passed through Florida Department of Elder Affairs and theWest Central Florida Area Agency on Aging:Emergency Home Energy Assistance Program Funds FY13/14 93.568 EH-13/14-MAN 33,942 Emergency Home Energy Assistance Program Funds FY14/15 93.568 EH-14/15-MAN 38,470 Total program 72,412

Passed through Florida Department of Elder Affairs:Medicaid Waiver Spending Authority Contract FY13/14 93.778 N/A 19,333

Passed through Florida Department of Children and Families:Title IV-E Waiver SFY13 93.658 N/A - *Title IV-E Waiver SFY14 93.658 N/A 67,053 Total program 67,053

Child Protective Investigations FY13/14 93.667 QJZ32 (Amd #1 & 2) 563,934 Child Protective Investigations FY14/15 93.667 QJZ32 Amd #3 441,271 Total program 1,005,205

Child Protective Investigations FY13/14 93.558 QJZ32 (Amd #1 & 2) 1,862,751 Child Protective Investigations FY14/15 93.558 QJZ32 Amd #3 454,744 Total program 2,317,495

Total Department of Health and Human Services 7,392,801

Election Assistance Commission:Passed through Florida Department of State:Voting Systems Grant FY05/06 90.401 N/A - *Federal Election Activities FY13/14 90.401 MOA#2013-2014-0001-R - *

Total Election Assistance Commission -

Environmental Protection Agency:Direct Program:Brownfields Assessment: Hazardous Substances 66.818 BF-95481811-0 47,045Brownfields Assessment: Petroleum 66.818 BF-95481811-0 116,461

Total Environmental Protection Agency 163,506

National Endowment for the Humanities:Passed through Florida Humanities Council:PrimeTime Family Reading Time 45.129 CC_PT14_MANATEE_1404 6,807

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**American Recovery and Reinvestment Act of 2009 (ARRA)The accompanying notes are an integral part of this schedule.

(Continued)

Manatee County, Florida

Expenditures

Schedule of Expenditures of Federal Awardsand State Financial Assistance

For the Fiscal Year Ended September 30, 2014

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Federal/State Agency,Pass-through Entity CFDA Contract Federal Program/State Project Number Grant Number

Department of Justice:Passed through Florida Department of Legal Affairs:VOCA Victim Assistance FY12/13 16.575 V12056 - *VOCA Victim Assistance FY13/14 16.575 V13056 95,304Total program 95,304

Direct Program:Byrne Memorial Justice Assistance Grant (JAG) FY10-13 16.738 2010-DJ-BX-0418 - *Byrne Memorial Justice Assistance Grant (JAG) FY12 16.738 2012-DJ-BX-0122 - *Byrne Memorial Justice Assistance Grant (JAG) FY13-16 16.738 2013-DJ-BX-0125 107,218

Passed through Florida Department of Law Enforcement:Byrne Memorial Justice Assistance Grant (JAG) FY14 16.738 2013-JAGC-MANA-1-D7-107 41,020 Byrne Memorial Justice Assistance Grant (JAG) FY14 16.738 2014-JAGC-MANA-1-E5-025 108,777

Total Edward Byrne Memorial Justice Assistance Cluster 257,015

Direct Program:Bureau of Justice Assistance:State Criminal Alien Assistance Program FY13 16.606 2013-AP-BX-0324 78,169 State Criminal Alien Assistance Program FY14 16.606 2014-AP-BX-0171 71,718 Total program 149,887

Community Defined Solutions to Violence Against Women Program 16.590 2010-WE-AX-0008 16,890 Total Department of Justice 519,096

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**American Recovery and Reinvestment Act of 2009 (ARRA)The accompanying notes are an integral part of this schedule.

(Continued)

ExpendituresTotal

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued

For the Fiscal Year Ended September 30, 2014

-196-

Federal/State Agency,Pass-through Entity CFDAFederal Program/State Project Number

Department of Transportation:Direct Programs:Port: Marine Highway Grant-Cross Gulf Container Expansion 20.816 DTMA1G10009 - *

Port: Transportation Investment Generating Economic Recovery Grant (TIGER II) 20.933 DTMA1G11005 2,745,507

Federal Transit Administration:Federal Transit Capital Investment Grant 20.500 FL04-012100/FM#404591 1,005,558 Investment Formula Grants - FTA 5307 20.507 FL90-0609/FM#407114-1-94-01 &

FM#410148-1-94-01 58,627 Investment Formula Grants - FTA 5307 20.507 FL90-0610/FM#407114-1-94-01 &

FM#410148-1-94-01 151,005 Investment Formula Grants - FTA 5307 20.507 FL90-0651/FM#410481-94-07 539,884 Investment Formula Grants - FTA 5307 20.507 FL90-0675/FM#410148-1-94-09 &

FM#410148-1-94-092 365,909 Investment Formula Grants - FTA 5307 20.507 FL90-0721/FM#410148-1-94-11 656,334 Investment Formula Grants - FTA 5307 20.507 FL90-0754/FM#410148-1-94-11 743,071 Investment Formula Grants - FTA 5307 20.507 FL90-0790/FM#-410148-1-94-13 425,176 Investment Formula Grants - FTA 5307 20.507 FL90-X808-00/FM#410148-1-94-14 - *ARRA** Investment Formula Grants - FTA 5307 20.507 FL96-X002-00 374,625 Total Federal Transit Grants Cluster 4,320,189

Highway Planning and Construction Programs: Local Agency Program 20.205 FPN430057-1-38-01/AQ960 70,091 Local Agency Program 20.205 FPN425531-1-58/68-01/AQD97 - *Local Agency Program 20.205 FPN427951-1-58/68-01/AQJ31 - *Local Agency Program 20.205 FPN425532-1-58/68-01/AQD98 - *Local Agency Program 20.205 FPN425530-1-58/68-01/AQ563 - *Local Agency Program 20.205 FPN429873-1-58/68-01/AQU54 114,956 Local Agency Program 20.205 FPN429867-1-58/68-01/AR817 50,235 Local Agency Program 20.205 FPN429869-1-58/68-01/AR189 99,197 Local Agency Program 20.205 FPN431019-1-58/68-01/ARB69 11,552 Local Agency Program 20.205 FPN428133-1-58/68-01/AR044 282,950 Local Agency Program 20.205 FM#431020-1-58/68-01/ARD16 57

Neal Preserve Trails 20.219 T11041/T1141 41,154 Robinson Preserve Phase 2 20.219 T13007/T1307 - *

Sarasota/Manatee Metropolitan Planning Organization:Metro Planning Program 20.205 PL-0264(49)FPN423646-1-14-01 FY14 460,841 Metro Planning Program 20.205 PL-0264(52)FPN425671-1-14-01 FY15 190,573 Total Highway Planning and Construction Cluster 1,321,606

Sarasota/Manatee Metropolitan Planning Organization:FTA Section 5303-Metropolitan Planning Grant 20.505 - *FTA Section 5303-Metropolitan Planning Grant 20.505 53,828 FTA Section 5303-Metropolitan Planning Grant 20.505 237,934 Total program 291,762Total Department of Transportation 8,679,064

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**American Recovery and Reinvestment Act of 2009 (ARRA)The accompanying notes are an integral part of this schedule.

(Continued)

FM#410117-1-14-23/AQR02FM#410117-1-14-22/AQR02FM#410117-1-14-21/AOV75

Grant Number ExpendituresContract

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued

For the Fiscal Year Ended September 30, 2014

Total

-197-

Federal/State Agency,Pass-through Entity CFDA TotalFederal Program/State Project Number Expenditures

Department of Homeland Security:Direct Program:

United States Transportation Security Administration:2011 Port Security Grant Program 97.056 EMW-2011-PU-K00277-S01 2,397,529 Total program 2,397,529

Passed through Florida Department of Community Affairs:FEMA-1539-DR-FL (Hurricane Charley FY04-Manatee County Government) 97.036 05-PA-C%-08-51-01-626 - *

FEMA-1545-DR-FL (Hurricane Frances FY04-Manatee County Government) 97.036 05-PA-G%-08-51-01-374 - *

FEMA-1561-DR-FL (Hurricane Jeanne FY04-Manatee County Government) 97.036 05-PA-E=-08-51-01-053 - *

FEMA-1545-DR-FL (Hurricane Frances FY04-Manatee County Sheriff Office) 97.036 05-PA-G%-08-51-02-648 - *

FEMA-1561-DR-FL (Hurricane Jeanne FY04-Manatee County Port Authority) 97.036 05-PA-E=-08-51-02-234 - *

FEMA-4068-DR-FL (Tropical Storm Debby FY12) 97.036 13-DB-73-08-51-02-591 564,367 Total program 564,367

Emergency Management Performance Grant FY12/13 97.042 13-FG-86-08-51-01-108 - *Emergency Management Performance Grant FY13/14 97.042 14-FG-1M-08-51-01-108 92,783 Emergency Management Performance Grant FY14/15 97.042 15-FG-4D-08-51-01-108 21,212 Homeland Security Grant (CERT) 97.042 14-CI-K1-08-51-02-293 2,400

Total program 116,395Severe Repetitive Loss Program FY11-14 97.110 13SR-48-08-51-01-463 - *

Passed through Florida Division of Emergency Management:State Homeland Security Grant Program FY12-14 97.067 13-DS-20-08-51-01-326 25,015 State Homeland Security Grant Program FY13-14 97.067 13-DS-97-08-51-01-486 13,655 State Homeland Security Grant Program FY14-15 97.067 14-DS-L5-08-51-01-398 510

Passed through Florida Department of Law Enforcement:2013 Port State Homeland Security Grant Program 97.067 2013-SHSP-MANA-1-B9-022 - *

Total program 39,180 Total Department of Homeland Security 3,117,471

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**American Recovery and Reinvestment Act of 2009 (ARRA)The accompanying notes are an integral part of this schedule.

(Continued)

Grant NumberContract

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued

For the Fiscal Year Ended September 30, 2014

-198-

Federal/State Agency,Pass-through Entity CFDA ContractFederal Program/State Project Number Grant Number

Department of Housing and Urban Development:Direct Programs:Community Development Block Grant-Entitlement FY08/09 14.218 B-08-UC-12-0018 - *Community Development Block Grant-Entitlement FY09/10 14.218 B-09-UC-12-0018 9,258Community Development Block Grant-Entitlement FY10/11 14.218 B-10-UC-12-0018 350,624Community Development Block Grant-Entitlement FY11/12 14.218 B-11-UC-12-0018 254,622Community Development Block Grant-Entitlement FY12/13 14.218 B-12-UC-12-0018 581,573Community Development Block Grant-Entitlement FY13/14 14.218 B-13-UC-12-0018 1,153,571Neighborhood Stabilization Program FY11 3 14.218 B-11-UN-12-0010 303,698Total CDBG Entitlement Grants Cluster 2,653,346

HOME-Entitlement FY07/08 14.239 M07-UC-120219 6,650 HOME-Entitlement FY08/09 14.239 M08-UC-120219 2,406 HOME-Entitlement FY09/10 14.239 M09-UC-120219 126,554 HOME-Entitlement FY10/11 14.239 M10-UC-120219 33,884 HOME-Entitlement FY11/12 14.239 M11-UC-120031 193,550 HOME-Entitlement FY12/13 14.239 M12-UC-120219 8,838 HOME-Entitlement FY13/14 14.239 M13-UC-120219 32,536 Total program 404,418

Emergency Solutions Grant (ESG) 14.231 E13-UC-12-0025 107,020 Total Department of Housing and Urban Development 3,164,784

Total expenditures of federal awards $ 23,043,529

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**American Recovery and Reinvestment Act of 2009 (ARRA)

The accompanying notes are an integral part of this schedule.(Continued)

ExpendituresTotal

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued

For the Fiscal Year Ended September 30, 2014

-199-

CSFAState Agency Name Number

Florida Department of Community Affairs:Hazardous Materials Emergency Response Plan FY14 31.067 14-CP-11-08-51-01-255 10,428

Florida Department of Elder Affairs and the West Central Florida Area Agency on Aging:Community Care for the Elderly FY13/14 65.010 CCE-13/14-MAN 641,696 Community Care for the Elderly FY14/15 65.010 CCE-14/15-MAN 212,762 Total program 854,458

Alzheimer's Disease Initiative FY13/14 65.004 ADI-13/14-MAN 121,650 Alzheimer's Disease Initiative FY14/15 65.004 ADI-14/15-MAN 45,731 Total program 167,381

Home Care for the Elderly FY13/14 65.001 HCE-13/14-MAN 6,793 Home Care for the Elderly FY14/15 65.001 HCE-14/15-MAN 4,197 Total program 10,990 Total Florida Department of Elder Affairs 1,032,829

Florida Department of Environmental Protection:Wares Creek Maintenance/Navigational Dredging 37.039 WAP049 - *Neal Preserve Environmental Restoration 37.039 W602 / 07CS0000047 - *

Total program -

Neal Preserve Environmental Restoration 37.022 W602 / 07CS0000047 - *

Anna Maria Island Beach Nourishment (Coquina) 37.003 11ME1 2,543,888 Anna Maria Island Beach Nourishment (Central) 37.003 14ME1 1,668,355

Total program 4,212,243 Total Florida Department of Environmental Protection 4,212,243

Florida Department of Health:Emergency Medical Services Trust FY13/14 64.005 C1041 - *Emergency Medical Services Trust FY14/15 64.005 C2041 50,265

Total program 50,265

Florida Department of State:Operating Aid for Libraries FY14 45.030 14-ST-30 168,268

Florida Department of Management Services:E911 VESTA (911 Hardware Equipment) 72.002 S6-13-12-4 - *

Executive Office of the Governor:Emergency Management Preparedness and AssistanceBase Grant FY14 31.063 14-BG-83-08-51-01-041 101,852

Emergency Management Preparedness and AssistanceBase Grant FY15 31.063 15-BG-83-08-51-01-041 22,676 Total Executive Office of the Governor 124,528

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.The accompanying notes are an integral part of this schedule.

(Continued)

Grant NumberContract

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued

For the Fiscal Year Ended September 30, 2014

TotalExpenditures

-200-

CSFA Contract State Agency Name Number Grant Number

Florida Department of Transportation:Port: Truck Queing Area/Building/MarshallingTerminal, etc. 55.014 FP#40544719401/ANK80 - *

Port: Harbor Crane 55.014 FP#41798819401/AOD47 - *Intermodal Container Terminal (Design & Construction) 55.014 FP#40818819401/AP534 288,287

Intermodal Container & Cargo Transfer Yard Phases II-V 55.014 FP#42061919401/AQK77 - *

Locomotive Switch Engines 55.014 FP#43385319401/AQY45 264,685 Intermodal Container Transfer Yard/Cold Storage Cargo Transfer Facility 55.014 FP#42259019401/AQ416 7,196

Port: Master Plan Update 55.014 FP#43577019401/ARC88 - *Total program 560,168

Port: Intermodal Container and Cargo Transfer Yard 55.005 FP#42061919401/AOQ65 - *Intermodal Container Transfer Yard/Cold Storage Cargo Transfer Facility 55.005 FP#42259019401/AQ416 - *

Berth Rehabilation & Reconstruction (JPA) 55.005 FP#43345719401/AR789 - *Total program -

Berth Rehabilation & Reconstruction (SIPB) 55.034 FP#43345719402/AR790 343,391 SIP Bond: Intermodal Cargo Storage Facilities 55.034 FP#43345819401/ARA07 - *

Total program 343,391 Transportation Disadvantaged Trust Fund FY13/14 55.001 FM#43202718401 &

FM#43202818401/AR195 437,949Transportation Disadvantaged Trust Fund FY14/15 55.001 FM#43202718401 &

FM#43202818401/ARG14 147,051Total program 585,000

State Operating Assistance Transit FY14 55.010 FP#41014118402/AQQ23 863,711 Anna Maria Island Trolley Project 55.013 FP#41089518403/AQQ40 485,573 Public Transit Service Development Program 55.012 FP#43286319401 / AQU84 - *Hidden Harbour Habitat Improvement 55.031 SW80 - *County Incentive Grant 55.008 FP#43252215801/AQZ19 1,504,394

Sarasota/Manatee Metropolitan Planning Organization: Transportation Disadvantaged Trust Fund FY13/14 55.002 36,273 Transportation Disadvantaged Trust Fund FY14/15 55.002 12,208

Total program 48,481 Total Florida Department of Transportation 4,390,718

Florida Housing Finance Corporation:State Housing Initiative Program FY11/12 52.901 Plan 7 Year 2 133,385 State Housing Initiative Program FY12/13 52.901 Plan 7 Year 3 83,075 State Housing Initiative Program FY13/14 52.901 Plan 8 Year 1 - *State Housing Initiative Program FY14/15 52.901 Plan 8 Year 2 52,223

Total Florida Housing Finance Corporation 268,683 Total expenditures of state financial assistance $ 10,257,962

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.The accompanying notes are an integral part of this schedule.

FM#43202911401/ARH88FM#43202911401/AR265

TotalExpenditures

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued

For the Fiscal Year Ended September 30, 2014

-201-

Manatee County, Florida Notes to Schedule of

Expenditures of Federal Awards and State Financial Assistance

September 30, 2014 1. Summary of Significant Accounting Policies:

The accounting policies and presentation of the Single Audit Report of Manatee County, Florida (the "County") have been designed to conform to generally accepted accounting principles as applicable to governmental units, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Budget Circular A-133, Compliance Supplement (A-133).

A. Reporting Entity - The reporting entity consists of Manatee County, the primary government,

and each of its component units. The County included schedules of both federal and state financial assistance in the Single Audit section. Financial assistance received directly from the State of Florida is included to satisfy the audit requirements of the State of Florida grantor agencies.

B. Basis of Accounting - Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus applied.

The modified accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards and State Financial Assistance. Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the related liability is incurred. In applying the susceptible-to-accrual concept to intergovernmental revenues, the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of such revenues. In one, monies must be expended on the specific purpose or project before any amounts will be paid to the County; therefore, revenues are recognized based upon the expenditures recorded. In the other, monies are virtually unrestricted as to purpose of expenditure and substantially irrevocable; i.e., revocable only for failure to comply with prescribed compliance requirements, such as with equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criteria.

2. Contingencies:

Grant monies received and disbursed by the County are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the County does not believe that such disallowance, if any, would have a material effect on the financial position of the County. As of November 24, 2014 there were no material questioned or disallowed costs as a result of grant audits in process or completed.

-202-

Manatee County, Florida Notes to Schedule of

Expenditures of Federal Awards and State Financial Assistance

September 30, 2014 3. Subrecipients

Of the expenditures presented in the Schedule, Manatee County provided Federal awards and State financial assistance to subrecipients as follows:

Federal CFDA Amount or State CSFA Provided toFederal Program/State Project Title Number Subrecipients

Community Development Block Grant-Entitlement Grants 14.218 $ 1,147,765 Neighborhood Stabilization Program 14.218 519,859 Community Defined Solutions 16.590 4,284 Port Security Grant Program 97.056 1,469,368

Total Provided to Subrecipients $ 3,141,276

4. FTA Investment Formula Grants and New Starts Transit Program:

The Florida Department of Transportation uses state toll credit revenues as match for FTA Investment Formula Grants FL90-0609, FL90-0610, FL90-0651, FL90-0675, FL90-0721, FL90-0754, FL90-0790, FL90-X808-00 and FL04-012100. A state contract does not exist nor is there a CSFA number.

5. Metropolitan Planning Organization (MPO):

The MPO received federal, state and local financial assistance. The federal assistance is identified as:

Federal Highway Administration $651,414 Federal Transit Administration 291,763

State assistance is identified as: Florida Department of Transportation (FDOT Match) $ 36,470 FDOT (In-Kind / Soft-Match) 143,672 Transportation Disadvantaged 48,481

Local assistance consists of $18,235 received from Manatee County and $18,235 received from Sarasota County.

6. Other Federal Funds & State Funds Received:

The Department of Transportation executed an Agreement with the Port Authority for the Gulf Marine Highway Intermodal Infrastructure Development in April, 2011. This grant is funded from Transportation Investment Generating Economic Recovery Grant Stimulus (TIGER II). Florida Department of Transportation (FDOT) executed an amendment to the Port Authority Joint Participation Master Agreement to the Intermodal Container and Cargo Transfer Yard (AOQ65 / FM Number 420619-1-94-01) in December, 2010. On May 3, 2012 FDOT notified the Port Authority that this project has been authorized for Front End Funding. The FDOT (AOQ65) is matching the TIGER II Grant Award. Also on May 24, 2013 FDOT notified the Port Authority that AQY45 was being executed to be used as match for the TIGER II Grant Award for Locomotive Switch Engines.

-203-

Manatee County, Florida Notes to Schedule of

Expenditures of Federal Awards and State Financial Assistance

September 30, 2014 6. Other Federal Funds & State Funds Received - Continued:

Florida Department of Transportation (FDOT) executed an amendment to the Port Authority Joint Participation Master Agreement to Design and Construct Truck Queuing and Marshalling Terminal area and Associated Service Facilities and Container Crane (ANK80 / FM Number 405447-1-94-01) on December, 2010. On April 15, 2011 FDOT notified the Port Authority that this project has been authorized for Front End Funding. The Port Authority in FY11 claimed expenses of $522,065 from prior years to request advance funding. Port Authority was unable to provide additional expenses within the grant period and the money was refunded to FDOT on May 20, 2014. Florida Department of Environmental Protection executed a Grant Agreement to Manatee County for Anna Maria Island Beach Nourishment (Coquina) (11ME1) on January 17, 2012. The total reported expenses of $5,087,776 exclude $65,614 and not previously reported in prior years for groins, due to no Legislature approval until July, 2014 and September, 2014. Department of Defense executed a Project Partnership Agreement with Manatee County for the Construction of the Cedar Hammock (Wares Creek) Flood Damage Reduction Project on August 6, 2010. The Corp of Engineers (COE) reported incurred direct federal expenditures of $11,324,282 for FY14. Department of Defense executed a Local Cooperation Agreement with Manatee County for the Manatee County Florida Shore Protection Project on August 4, 1992. The Corp of Engineers (COE) reported incurred direct federal expenditures of $4,826,522 through the third quarter of FY14. Florida Department of Transportation executed a Seaport Investment Program Bond Funded Agreement on November 21, 2013 with Manatee County Port Authority for Berth Rehabilitation & Reconstruction (AR790 / FP Number 433457-1-94-02). FDOT authorized Port to request 100% of expenditures up to the amount of the FDOT participation. On September 16, 2014 we received $129,292, 100% of expenditures. Department of Justice passed through the Office of the Attorney General an award to Manatee County Sheriff’s Office (V12056) on October 1, 2012. A revision to the September, 2013 invoice was done to include additional expenses of $1,805 which were not reported in FY13 but were reimbursed. Florida Department of Transportation (FDOT) executed an amendment to Manatee County Joint Participation Agreement for the State Transit Corridor Program (AQQ40 / FPID Number 410895-1-84-03) on September 25, 2012. A revision to the June through August, 2013 invoice was done to include additional expenses of $759 which were not reported in FY13 but were reimbursed.

-204-

MANATEE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS-

FEDERAL PROGRAMS AND STATE PROJECTS For The Year Ended September 30, 2014

PART I - SUMMARY OF AUDITOR’S RESULTS Financial Statements Type of auditors’ report issued: Unmodified Internal control over financial reporting:

Material weakness(es) indentified? No Significant deficiency(ies) identified? None reported Noncompliance material to financial statements noted? No

Federal Awards Internal control over major programs:

Material weakness(es) identified? No Significant deficiency(ies) identified? None reported

Type of auditors’ report issued on compliance for major programs: Unmodified Any audit findings disclosed that are required to be reported in accordance with OMB Circular A-133 section 510 (a)

No

Identification of major federal programs: CFDA Number Name of Federal Program or Cluster

14.218 Department of Housing and Urban Development – Community Development

Block Grant 20.205 Department of Transportation - Highway Planning and Construction 20.219 Department of Transportation – Recreational Trails Program 20.500 Department of Transportation – Federal Transit Capital Investment Grant 20.507 Department of Transportation - ARRA – Federal Transit Formula Grants – FTA

5307 93.558 Department of Health and Human Services – Temporary Assistance for Needy

Families 93.563 Department of Health and Human Services - Child Support Enforcement 93.667 Department of Health and Human Services - Child Protective Investigations 97.036 Department of Homeland Security – Disaster Grants – Public Assistance

Dollar threshold used to distinguish between Type A and Type B Federal programs

$691,306

Auditee qualified as low-risk auditee? Yes

-205-

MANATEE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS-

FEDERAL PROGRAMS AND STATE PROJECTS For The Year Ended September 30, 2014

PART I - SUMMARY OF AUDITOR’S RESULTS – CONTINUED State Financial Assistance Section

Internal control over major projects: Material weakness(es) identified? No Significant deficiency(ies) identified? None reported

Type of auditors’ report issued on compliance for major projects: Unmodified

Identification of major State projects:

CSFA Number Name of State Project or Cluster

37.003 Florida Department of Environmental Protection – Beach Erosion Control Program

55.008 Florida Department of Transportation – County Incentive Grant Program 55.014 Florida Department of Transportation – Intermodel Development Program 55.034 Florida Department of Transportation – Seaport Investment Program

Dollar threshold used to distinguish between Type A and Type B State projects $300,000 PART II - SCHEDULE OF FINANCIAL STATEMENT FINDINGS

This section identifies the significant deficiencies, material weaknesses, fraud, illegal acts, violations of provisions of contracts and grant agreements and abuse related to the financial statements for which Government Auditing Standards requires reporting in a Circular A-133 audit. There were no such findings required to be reported. PART III - SCHEDULE OF FINDINGS AND QUESTIONS COSTS – FEDERAL PROGRAMS This section identifies the audit findings required to be reported by Section 510(a) of Circular A-133 as well as any abuse findings involving federal awards that is material to a major program. There were no such findings required to be reported.

-206-

MANATEE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS-

FEDERAL PROGRAMS AND STATE PROJECTS For The Year Ended September 30, 2014

PART IV - SCHEDULE OF FINDINGS AND QUESTIONS COSTS – STATE PROJECTS This section identifies the audit findings required to be reported under Rule 10.554(1)(l)4, Rules of the Auditor General. There were no such instances required to be reported. PART V - OTHER MATTERS No Corrective Action Plan is required because there were no findings required to be reported under the Federal or Florida Single Audit Acts.

-207-

MANATEE COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS-

FEDERAL PROGRAMS AND STATE PROJECTS For The Year Ended September 30, 2014

PRIOR YEAR FINDINGS AND QUESTIONED COSTS – MAJOR FEDERAL PROGRAMS AND STATE PROJECTS There were no prior year findings.

-208-

INDEPENDENT ACCOUNTANT’S REPORT

Honorable Members of theBoard of County CommissionersManatee County, Florida

We have examined the Manatee County, Florida, Board of County Commissioners (the “BOCC”)compliance with Section 218.415, Florida Statutes during the fiscal year ended September 30, 2014. Management is responsible for the BOCC’s compliance with those requirements. Our responsibility is to express an opinion on the BOCC’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the BOCC’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the BOCC’s compliance with specified requirements.

In our opinion, the BOCC complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2014.

This report is intended solely for the information and use of the Florida Auditor General, Manatee County, Florida, Board of County Commissioners, and management, and is not intended to be and should not be used by anyone other than these specified parties.

CERTIFIED PUBLIC ACCOUNTANTS

Bradenton, FloridaNovember 24, 2014

MANAGEMENT LETTER

Honorable Members of the Board of County CommissionersManatee County, Florida

Report on the Financial Statements

We have audited the financial statements of the Manatee County, Florida (the “County”), as of and for the fiscal year ended September 30, 2014, and have issued our report thereon dated November 24, 2014.

Auditor’s Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations; and Chapter 10.550, Rules of the Florida Auditor General.

Other Reports and Schedule

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; Independent Auditor’s Report on Compliance for Each Major Federal Program and State Project and Report on Internal Control over Compliance; Schedule of Findings and Questioned Costs; and Independent Accountant’s Report on an examination conducted in accordance with AICPA Professional Standards, Section 601, regarding compliance requirements in accordance with Chapter 10.550 Rules of the Auditor General. Disclosures in those reports and schedule, which are dated November 24, 2014, should be considered in conjunction with this management letter.

Prior Audit Findings

Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no such matters reported in the preceding annual financial audit report.

Official Title and Legal Authority

Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. This information is disclosed in the notes to the financial statements.

Honorable Members of the Board of County CommissionersPage2

Financial Condition

Section 10.554(1)(i)5.a., Rules of the Auditor General, requires that we report the results of our determination as to whether or not the County has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the County did not meet any of the conditions described in Section 218.503(1), Florida Statutes.

Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures as of the end of the fiscal year. It is management’s responsibility to monitor the County’s financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Annual Financial Report

Section 10.554(1)(i)5.b., Rules of the Auditor General, requires that we report the results of our determination as to whether the annual financial report for the County for the fiscal year ended September 30, 2014, filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2014. In connection with our audit, we determined that these two reports were in agreement.

Other Matters

Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we have the following finding and recommendation.

2014-001

Criteria:

The Clerk is responsible for the establishing and maintaining controls over accurate submittal of

grant reimbursement requests.

Condition:

During November 2013, an incorrect rate was used in the reimbursement request calculation for

the State of Florida Title IV-D child support services grant resulting in the Clerk overstating the

reimbursement amount from the State of Florida.

Cause:

An oversight was made in the calculation of the reimbursement request for one month.

Honorable Members of the Board of County CommissionersPage3

Effect:

The Clerk received an additional $24,832 that will be deducted from a fiscal year 2015 monthly

reimbursement report.

Recommendation:

The Clerk should ensure proper review and approval of the reimbursement requests before

submitting to the State.

Views of Responsible Officials and Corrective Action Plan:

We concur with this comment and recommendation. Additional procedures have been put into

place to verify the accuracy of our reimbursement requests.

Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.

Purpose of this Letter

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties.

CERTIFIED PUBLIC ACCOUNTANTS

Bradenton, FloridaNovember 24, 2014