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Manatee CountyFlorida

Comprehensive AnnualFinancial Report

Fiscal Year Ended September 30, 2018

On the cover - Frankie Howze, 1868-1956Frankie Howze is sometimes referred to as the “Mother of Education in Manatee County” due to her focus on educating the whole child. While teaching in Palmetto, Frankie divided up the children into age groups to teach more level-appropriate topics, emphasized Physical Education, and even taught football to 5th and 6th grade boys. She later served as a Principal and was the librarian of the 1914 Palmetto Carnegie Library for almost 10 years. She was named one of the Department of State’s Great Floridians in 2000.

Photo courtesy of the Manatee County Public Library Historical Image Digital Collection

In 1919, 100 years ago, the issue of women’s suffrage, the right for women to vote, captured the minds of Americans. The hotly debated topic tore communities and families apart as the addition of thousands of new voters could swing elections from the male dominated status quo. Whether women would vote “as their husbands told them to” or would impact the country choosing to limit vices such as alcohol and gambling and advocate for health and social reform was yet to be seen. After the United States House of Representatives confirmed the 19th Amendment giving women the right to vote on May 21, 1919 and the United States Senate followed on June 4, 1919, it was left up to the individual states to ratify the amendment and make it into law. After all but one of the required number of states voted to approve the amendment, the battle moved to the State of Tennessee. On August 18, 1920, it appeared as though Tennessee would not support suffrage. That is until Phoebe Ensminger Burn sent a letter to her son, Harry Burn, a Tennessee State Representative, urging him to vote in favor of ratification. When it was time to vote, Burn heeded his mother’s directive and with his single vote, broke a tie by voting for the amendment changing the course of American history. Later, Burn would explain, “I know that a mother’s advice is always safest for her boy to follow, and my mother wanted me to vote for ratification.” Throughout history, women have played a role in establishing communities, creating laws, and building citizenship. Some, like Phoebe Burn, did it quietly, through encouraging those in power; others did it as lawmakers, educators and businesswomen. This year, in honor of the 100th anniversary of women receiving the right to vote, the 2017/2018 Comprehensive Annual Financial Report is dedicated to the women of Manatee County who have made our community what it is today. While there are many women and their accomplishments to celebrate and this list is not comprehensive, the women featured here are representative of many who have impacted Manatee County.

MANATEE COUNTY, FLORIDA

COMPREHENSIVE ANNUAL FINANCIAL REPORT

for the fiscal year ended

September 30, 2018

Board of County Commissioners

Priscilla Trace, Chairman

Betsy Benac Vanessa Baugh Robin DiSabatino Stephen Jonsson Charles Smith Carol Whitmore

Clerk of Circuit Court and Comptroller Angelina “Angel” Colonneso

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, 2018

Table of Contents

Introductory Section Page

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

Financial Section Independent Auditors’ Report ........................................................................................................................................................................ 1a-1c Management’s Discussion and Analysis .......................................................................................................................................................... 2-12 Basic Financial Statements: Government-Wide Financial Statements: Statement of Net Position ............................................................................................................................................................................ 13

Statement of Activities ................................................................................................................................................................................. 14 Fund Financial Statements: Balance Sheet–Governmental Funds ........................................................................................................................................................... 15

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position ............................................................ 16 Statement of Revenues, Expenditures and Changes in Fund Balances-Governmental Funds ............................................................... 17 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ......................................................................................................................... 18

Statement of Revenues, Expenditures and Changes in Fund Balances- Budget and Actual-General Fund ........................................................................................................................................................ 19-20 Statement of Revenues, Expenditures and Changes in Fund Balances-

Budget and Actual-Highway Special Revenue Fund .............................................................................................................................. 21 Statement of Net Position-Proprietary Funds ........................................................................................................................................ 22-23 Statement of Revenues, Expenses and Changes in Fund Net Position-Proprietary Funds .................................................................... 24 Statement of Cash Flows-Proprietary Funds ......................................................................................................................................... 25-26 Statement of Fiduciary Net Position-Fiduciary Funds ................................................................................................................................ 27

Statement of Changes in Fiduciary Net Position-Fiduciary Funds ............................................................................................................ 27 Notes to Financial Statements .................................................................................................................................................................... 28-63 Required Supplementary Information: Schedule of Changes in Total Other Post Employment Benefits (OPEB) Other Than Pension Liability and Other Related Ratios ................................................................................................................................................ 64 Schedule of County Proportionate Share of Net Pension Liability for the FRS and HIS Pension Plans ...................................................... 65 Schedule of County Contributions to the FRS and HIS Pension Plans .......................................................................................................... 66 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet-Nonmajor Governmental Funds ..................................................................................................................... 67-70 Combining Statement of Revenues, Expenditures and Changes in Fund Balances- Nonmajor Governmental Funds .............................................................................................................................................................. 71-74 Schedules of Revenues, Expenditures and Changes in Fund Balances-Budget and Actual:

Special Revenue Funds: Library .................................................................................................................................................................................................. 75 Tourist Development .......................................................................................................................................................................... 76 Children’s Services Tax ...................................................................................................................................................................... 77 Miscellaneous ...................................................................................................................................................................................... 78 Unincorporated Services .................................................................................................................................................................... 79 911 Enhancements ............................................................................................................................................................................. 80 Metropolitan Planning ........................................................................................................................................................................ 81 Assessment Revenue .......................................................................................................................................................................... 82 Impact Fees ......................................................................................................................................................................................... 83 Federal and State Grants .................................................................................................................................................................... 84 Law Enforcement ................................................................................................................................................................................. 85 Affordable Housing ............................................................................................................................................................................. 86 Community Redevelopment ............................................................................................................................................................... 87 Port TIF ................................................................................................................................................................................................. 88 Building and Permitting ...................................................................................................................................................................... 89 Local Government Infrastructure Sales Surtax ................................................................................................................................. 90

Debt Service Funds: General Obligation Bonds .................................................................................................................................................................. 91 Revenue Improvement Bonds ............................................................................................................................................................ 92 Revenue Refunding and Improvement Bonds .................................................................................................................................. 93 Revenue Improvement Note............................................................................................................................................................... 94 Combining Statement of Net Position-Nonmajor Enterprise Funds.............................................................................................................. 95 Combining Statement of Revenues, Expenses and Changes in Fund Net Position- Nonmajor Enterprise Funds ......................................................................................................................................................................... 96 Combining Statement of Cash Flows-Nonmajor Enterprise Funds .......................................................................................................... 97-98 Combining Statement of Net Position-Internal Service Funds ...................................................................................................................... 99 Combining Statement of Revenues, Expenses and Changes in Fund Net Position- Internal Service Funds. .............................................................................................................................................................................. .100 Combining Statement of Cash Flows-Internal Service Funds.............................................................................................................. 101-102 Combining Statement of Fiduciary Net Position-All Agency Funds ............................................................................................................ 103 Combining Statement of Changes in Assets and Liabilities-All Agency Funds ......................................................................................... 104

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Statistical Section Net Position by Component ............................................................................................................................................................................... 105 Changes in Net Position ............................................................................................................................................................................. 106-107 Changes in Fund Balances – Governmental Funds .......................................................................................................................................... 108 Fund Balances – Governmental Funds .............................................................................................................................................................. 109 Assessed and Estimated Values of Property .................................................................................................................................................... 110 Property Tax Levies and Collections ................................................................................................................................................................. 111 Principal Property Taxpayers ............................................................................................................................................................................. 112 Direct and Overlapping Property Tax ............................................................................................................................................................... 113 Computation of Direct and Overlapping Debt ................................................................................................................................................. 114 Computation of Legal Debt Margin ................................................................................................................................................................... 114 Ratios of Outstanding Debt by Type ................................................................................................................................................................. 115 Demographic and Economic Statistics .............................................................................................................................................................. 116 Principal Employers............................................................................................................................................................................................. 117 Operating Indicators by Function/Program .............................................................................................................................................. 118-119 Capital Assets by Function/Program ........................................................................................................................................................ 120-121 Full-time Equivalent Government-wide Employees by Function ..................................................................................................................... 122 Special Assessment Collections ......................................................................................................................................................................... 123 Salaries of Principal Officials .............................................................................................................................................................................. 124 Ratio of General Bonded Debt ........................................................................................................................................................................... 125 Ratio of Annual Debt Service Expenditures for Governmental Bonded Debt to Total General Government Expenditures ................................................................................................................................................. 126 Manatee County Public Utilities System Schedule of Revenue Bond Coverage ............................................................................................. 127 Manatee County Port Authority Schedule of Revenue Bond Coverage .......................................................................................................... 128 Manatee County Port Authority Schedule of State Infrastructure Bank (SIB) Loan Coverage ...................................................................... 129 Manatee County Port Authority Schedule of 2014A and 2014B Revenue Note Loan Coverage ................................................................. 130 Schedule of Debt Service Payable from Non-Ad Valorem Revenue Sources .................................................................................................. 131 Non-Ad Valorem Revenues Legally Available to Pay Debt Service on Certain Bonds and Other Indebtedness ............................................................................................................................................................................ 132 Bond Issues – Description .......................................................................................................................................................................... 133-136 Schedule of Debt Service Requirements ................................................................................................................................................... 137-145

Single Audit/Grants Compliance Schedules Independent Auditors’ Reports ............................................................................................................................................................. 146a-147c Schedule of Expenditures of Federal Awards and State Financial Assistance ....................................................................................... 148-154 Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance ....................................................................... 155-156 Schedule of Findings and Questioned Costs ............................................................................................................................................ 157-160 Corrective Action Plan ................................................................................................................................................................................ 161-162 Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil Spill ................................................................... 163

Introductory Section

Ellen Bolding, 1856-1929Ellen (Henderson) Bolding was born into slavery in Alabama. In 1871, she became the second wife of Jeff Bolding, a respected former slave who pushed for an education system for the community’s black children. Ellen lived for 25 years after Jeff ’s death and worked as a domestic and cook for King Wiggins and his family.


Angelina “Angel” Colonneso 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

“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

March 29, 2019 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, 2018. 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, 2018 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals for Federal Awards (Uniform Guidance). 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.

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 377,826 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 board of the Manatee County Port Authority, this entity is 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

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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 2.45% growth experienced in the current year is greater than the County’s ten year average growth rate of 1.44% per year.

The County’s industry base is diversified with the three largest industry sectors being services, retail and manufacturing. The County also has a strong tourism and agricultural base. Tourism numbers continued to climb to new record levels in 2018, with bed tax revenues topping $14.7 million during the year, despite the effects of red tide on tourism for a portion of the summer along the Gulf Coast.

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. The more formal policy guideline, approved and adopted by the Manatee County Board of County Commissioners (the “Board”) during fiscal year 2010 establishes 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.

Relevant financial policies. The Manatee County Financial Management Department began utilizing 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. The Reserve allowed for a measured drawdown of reserves through 2018 during the downturn of the economy. As anticipated, revenues have returned to sustainable levels by the end of 2018, reducing the need to draw from 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 times that revenues fell substantially. This drawdown of reserves, instead of resorting to service reductions, has worked well over time.

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 January, 2108, the Florida Beach Patrol Chiefs Association awarded its most prestigious award, Beach Patrol of the Year to Manatee County Beach Rescue. The award recognizes the best agency in the industry for its elite public service to the community. Beach Patrol Chief Joe Westerman and his crew of 16 lifeguards keep our public beaches safe for the 2.8 million people a year who visit them.

When Hurricane Michael devastated the Florida panhandle in October, Manatee County first responders were some of the first to step up to assist. Interim Emergency Management Chief Steve Litschauer led a group of nearly 70 paramedics, Public Safety, law enforcement and fire district representatives to Gulf County, only miles from where the devastating storm made landfall.

Last year Manatee County also made significant advancements with Sarasota County in the construction of a new regional public safety radio tower system that replaces obsolete equipment with new technology giving police, paramedics, firefighters and other first responders a far more reliable way to communicate during emergencies each day.

Livable Manatee is working to create affordable homes for low and moderate income families who want to establish roots here. Incentives for 10 projects were approved last year and more are on the way.

Also during fiscal year 2018, the Board purchased nearly 75 acres north of the Premier Sports Campus. In a few years that property will become a government services center with park amenities, a library and buildings for

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government services. That purchase was a significant step towards our goal to bring government to the fast-growing areas of east Manatee County.

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, 2017. This was the 39th 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 19 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, 2017. This was the 33rd 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.

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 Carr, Riggs & Ingram, LLC, CPAs, who helped us with their comments and advice. Thanks also to Jan Brewer and her staff in the Department of Financial Management for Manatee County.

Sincerely,

Angelina “Angel” Colonneso Daniel R. Wolfson, CPA Clerk of Circuit Court and Comptroller Chief Financial Officer AC:DRW:jh

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VOTERS

CLERK OF CIRCUIT COURT

BOARD OF COUNTY

COMMISIONERSTAX COLLECTOR

SUPERVISOR OF ELECTIONS

PROPERTY APPRAISER

SHERIFF

COUNTY ADMINISTRATOR

COUNTY ATTORNEY

CIVIC CENTER AUTHORITY

COMMUNITY REDEV AGENCY

BUILDING & DEVELOPMENT

SERVICESFINANCIAL

MANAGEMENT

HUMAN RESOURCES

INFORMATION TECHNOLOGY

NEIGHBORHOOD SERVICES PARKS & NATURAL

RESOURCES

PROPERTY MANAGEMENT UTILITIESPUBLIC SAFETY PUBLIC WORKS

EEO POLICY ADMINISTRATOR

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

CONVENTION & VISITORS BUREAU/

CONVENTION CTR

MANATEE COUNTY GOVERNMENT09/30/2018

REDEVELOPMENT & ECONOMIC

OPPORTUNITY

DEPUTY COUNTY ADMINISTRATOR

DEPUTY COUNTY ADMINISTRATOR

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Financial Section

Roberta Knowles, 1921-1982Roberta Knowles started her career as a school teacher but, after the tragic death of her husband, changed directions and went to law school. She was a lawyer for ten years before running for election as a Manatee County Judge. She won her initial election and then again when she was challenged. Roberta is credited alongside Evelyn Gobbie for breaking the glass ceiling for the women of Manatee County in law.


INDEPENDENT AUDITORS’ REPORT

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

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, 2018, 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. Auditors’ 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 auditors’ 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.

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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. 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, 2018, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Emphasis of Matter Change in Accounting Principles As described in Note 1 to the financial statements, the County adopted Government Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions. Our opinion is not modified with respect to these matters. 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 2-12, and the schedule of changes in total other post employment benefits (OPEB) other than pension liability and other related ratios, schedule of county proportionate share of net pension liability for the FRS and HIS pension plans, and schedule of county contributions to the FRS and HIS pension plans on pages 64-66 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, and statistical section, are

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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 Title 2, U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, 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, 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 accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules, 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 March 29, 2019, 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.

Carr, Riggs, & Ingram, LLC Bradenton, Florida March 29, 2019

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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 audited financial statements this narrative overview and analysis of the financial activities of Manatee County Government for the fiscal year ended September 30, 2018. 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

• In fiscal year 2018, the County implemented Governmental Accounting Standards Board Statement 75, “Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions.” Accordingly, the 2017 amounts presented have been restated, resulting in an increase in net position of $45,309.

• Manatee County’s assets exceeded its liabilities (net position) at September 30 by $2,328,493 for fiscal year 2018 as compared to $2,220,507 for fiscal year 2017, as restated. 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 $467,322, an increase of $69,885 from the previous fiscal year, as restated.

• The County’s total net position this fiscal year increased $107,986 over the previous year, resulting from an

increase of $53,487 from governmental activities and an increase of $54,499 from business-type activities, as restated.

• At September 30, Manatee County’s governmental funds statements reported combined ending fund balances of

$408,642, an increase of $47,627 over the previous fiscal year.

• The General Fund reported an unassigned fund balance of $96,508.

• Total bonded debt and loans of Manatee County Government increased $120,989 in fiscal year 2018.

• Closure estimates of the County’s Lena Road Landfill approved by state and federal authorities resulted in an increase to the closure liability of $1,186 for fiscal year 2018. The County now holds $36,281 for these closure purposes, with the current estimated remaining landfill life of 26 years.

• The County’s average interest earnings rate increased over the prior year, from .9780% in 2017 to 1.4813% in

2018, 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 13 to 14 of the report.

The Statement of Net Position shows the County’s assets and deferred outflows of resources, less its liabilities and

deferred inflows of resources at September 30, 2018. The difference 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 is a

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separate legal entity, but the Manatee County Commission serves as the governing board. The Port Authority functions, for all practical purposes, as a department of Manatee County and has been included as integral parts of Manatee County’s financial statements under business-type activities.

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 15 to 21, 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.

Governmental funds individually presented in Manatee County’s statements include four 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 22 to 26 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 95 to 98.

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 99 to 102. 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 page 27 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 28 to 63 of the report. Other Information This report presents certain required supplementary information on pages 64 to 66 concerning Manatee County’s progress in funding its obligation to provide pensions and 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 67. This section includes budget to actual schedules for

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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. Government-Wide Financial Analysis Comparative data for fiscal years ending September 30, 2018 and 2017 are shown below:

2018 2017 (1) 2018 2017 (1) 2018 2017 (1)

$ 499,217 $ 447,998 $ 531,378 $ 389,397 $ 1,030,595 $ 837,395 1,110,088 1,081,218 1,044,796 1,004,520 2,154,884 2,085,738 1,609,305 1,529,216 1,576,174 1,393,917 3,185,479 2,923,133

110,152 112,305 16,592 16,361 126,744 128,666

Long-term liabilities 392,196 400,386 427,532 297,451 819,728 697,837 Other liabilities 96,067 76,339 30,549 34,957 126,616 111,296

Total liabilities 488,263 476,725 458,081 332,408 946,344 809,133

32,062 19,151 5,324 3,008 37,386 22,159

1,006,820 981,983 782,761 829,958 1,789,581 1,811,941 Restricted - - 71,590 11,129 71,590 11,129 Unrestricted 192,312 163,662 275,010 233,775 467,322 397,437

Total net position $ 1,199,132 $ 1,145,645 $ 1,129,361 $ 1,074,862 $ 2,328,493 $ 2,220,507

(1) Certain balance sheet items have been restated due to implementation of GASB 75.

Governmental Business-typeActivities Activities Total

Deferred inflows of resources

Net investment in capital assets

Current/other assetsCapital assets Total assets

Deferred outflows of resources

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 2018 and 2017; the increase in net position for the fiscal years ending September 30, 2018 and 2017 amounted to $107,986 and $98,464 as restated, respectively. Manatee County’s unemployment rate has decreased to 2.9%, which further supports the continued increases experienced in its building markets and tourism activities.

The County, for both fiscal years, reported positive net position balances in all categories of governmental and business-type activities. At September 30, 2018, the County's unrestricted net position increased by $69,885 and its restricted net position increased by $60,461. Unrestricted net position is comprised of County resources that may be used to meet the County's ongoing obligations to citizens and creditors, while restricted net position involves resources that are subject to external restriction. The increase in unrestricted net assets reflects the continued growth within the County during fiscal year 2018 in its tax base and charges for services. The restricted net position increase is reflective of the increase in reserves related to escrow amounts for the 2018 crossover refunding debt.

Manatee County’s investment in capital assets such as land, roads, parks, buildings, machinery and equipment, as a

percentage of net position, amounts to 76.86% and 81.60% at September 30, 2018 and 2017, 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 related debt, the capital assets themselves cannot be used to liquidate that liability; and other resources will be needed to repay any associated debt.

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2018 2017 (1) 2018 2017 (1) 2018 2017 (1)

Program revenues:Charges for services $ 91,109 $ 84,124 $ 207,076 $ 196,001 $ 298,185 $ 280,125 Operating grants and contributions 22,519 21,132 6,678 5,917 29,197 27,049 Capital grants and contributions 9,650 10,492 42,352 39,649 52,002 50,141

General revenues:Property taxes 221,469 202,515 - - 221,469 202,515 Other taxes 96,047 87,839 - - 96,047 87,839 State revenue sharing 9,957 9,388 - - 9,957 9,388 Interest income 7,575 3,967 206 102 7,781 4,069 M iscellaneous 24,801 20,536 155 151 24,956 20,687 Total revenues 483,127 439,993 256,467 241,820 739,594 681,813

Expenses:General government 99,834 95,367 - - 99,834 95,367 Public safety 192,286 182,837 - - 192,286 182,837 Physical environment 12,145 10,004 - - 12,145 10,004 Transportation 43,110 41,191 - - 43,110 41,191 Economic environment 18,951 19,311 - - 18,951 19,311 Human services 33,997 30,014 - - 33,997 30,014 Culture and recreation 20,222 19,250 - - 20,222 19,250 Interest long-term debt 3,811 3,891 - - 3,811 3,891 Water and sewer - - 119,036 109,314 119,036 109,314 Port Authority - - 15,408 14,026 15,408 14,026 Solid waste - - 46,988 34,679 46,988 34,679 Transit - - 16,388 14,982 16,388 14,982 Stormwater - - 6,954 5,968 6,954 5,968 Civic center - - 2,478 2,515 2,478 2,515 Total expenses 424,356 401,865 207,252 181,484 631,608 583,349

Increase in net position 58,771 38,128 49,215 60,336 107,986 98,464 Transfers (5,284) (3,456) 5,284 3,456 - -

Changes in net position 53,487 34,672 54,499 63,792 107,986 98,464 Net position - beginning 1,145,645 1,110,973 1,074,862 1,011,070 2,220,507 2,122,043 Net position - ending $ 1,199,132 $ 1,145,645 $ 1,129,361 $ 1,074,862 $ 2,328,493 $ 2,220,507

(1) Certain balance sheet items have been restated due to implementation of GASB 75.

Manatee County Changes in Net Position

Governmental Business-typeActivities Activities Total

Total governmental cash and cash equivalents increased by $54,847 from the prior year, predominately due to an

increase in property and other tax revenues along with an increase in charges for services. The final payment was made on the General Obligation Refunding Bonds 2014, which is reflected in the $1,298 decrease of restricted cash and cash equivalents.

Total business-type cash and cash equivalents increased approximately $79,197 from the previous year. The $37,043

increase in the current asset category of cash and cash equivalents can be attributed to the new Utility accounts in fiscal year 2018, as new building starts and housing starts continued to increase. Also due to the increases in building and development, Utilities added 532 new reclaimed water accounts in the current year. The increase of $42,154 in restricted cash and cash equivalents reflects new debt issued.

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.

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The ratio for both years is as follows:

Fiscal year ending September 30, 2018:

Current unrestricted assets $ 476,475 $ 333,079 Current unrestricted liabilities $ 92,339 $ 17,762 Ratio of current assets to

current liabilities 5.16 18.75

Fiscal year ending September 30, 2017:

Current unrestricted assets $ 423,994 $ 296,169 Current unrestricted liabilities $ 74,150 $ 15,329 Ratio of current assets to

current liabilities 5.72 19.32

Comparison of Current Unrestricted Assets and Liabilities

Governmental Business-typeActivities Activities

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 2017, as restated. Public Safety’s expenditures increased by $9,449, largely due to the effects of red tide in area waterways, building renovations and the Sheriff’s continuing vehicle replacement program. Red tide affected Manatee County greatly in 2018, both in beach maintenance expenditures and through lower numbers of tourists in the later months of the fiscal year. The results of these ongoing red tide cleanup efforts can be seen in both the increase in Public Safety expense and the related increase in Public Safety operating grant revenues. A $3,983 increase in spending for Human Services was related to higher indigent health care costs in the current year. Revenues in fiscal year 2018 include increases in charges for services of $6,985 from strong growth-related transportation and other impact fees, permitting and fines; operating grants and contributions of $1,387 related to red tide and storm expenditures; with additional increases in property taxes and the infrastructure sales tax. The increase in property taxes is due to higher property values from continued improvement in our local real estate market. Infrastructure sales tax revenue increased by $7,111, as 2018 was the first full year of collections for this local sales tax that was approved by voters in 2017 to fund certain County infrastructure projects.

All of the above factors contributed to Manatee County posting a $53,487 increase in net position for governmental activities, resulting in an overall increase of $18,815 for fiscal year 2018, as compared to the $34,672 increase for fiscal year 2017, as restated. The change in net position represents percentage increases for both 2018 and 2017 of 4.46% and 3.12% as restated, respectively, over the previous year. Business-type Activities

Increases in net position for business-type activities totaled $54,499 and $63,792, as restated, for fiscal years 2018 and 2017, respectively, representing increases of 5.07% and 6.31% as restated; this demonstrates that the County’s business-type operations continue to benefit through the local economy’s growth. Significant changes in net position from expenses, program revenues, capital grants and contributions have impacted this growth as well. Water and sewer continued to show solid revenues from operations, resulting in net revenues of $62,394. This increase is $3,237 higher than the previous year’s amount of $59,157, as restated, primarily due to a stable increase of water and sewer accounts, a 4% utility rate increase and additional donated infrastructure during fiscal year 2018. The Port Authority posted $1,512 in net revenues, $3,719 below fiscal year 2017’s $5,231 net revenues, as restated. This decrease is attributable to fewer projects funded by capital grants and contributions, offset by continued increasing revenues and activity in wharfage fees, dockage fees and security services. Transit posted an overall increase in net revenue of $680 from the prior year, with $519 more in operating grants to expand the Paratransit program and to increase the frequency of key bus routes. Capital grants also contributed to Transit’s increase, as $1,588 more than the prior year was received for bus replacements and the continuing ADA-compliant bus stop improvements. Solid Waste reported an increase in expenditures of $12,309 over the prior year, related to debris removal from Hurricane Irma in 2017. Charges for services were $1,879 higher over the prior year’s levels, due to the continued growth in the number of accounts and the demand for services. Stormwater’s expenses were $986 higher than the prior year, due to ongoing storm and water quality costs. Civic Center’s overall increase of $51 was due to lower facility maintenance costs during the current year.

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.

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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. Manatee County’s governmental funds reported combined fund balances of $408,642 for 2018, an increase from the previous year of $47,627, which was primarily due to an increase in property tax revenue, offset by higher expenditures due to public safety and health care costs. In comparison, fiscal year 2017 showed an increase of $11,288 from fiscal year 2016, which was attributable to public safety and storm related activities. Governmental funds held restricted, committed or assigned amounts totaling $307,633 in 2018 to reflect the various constraints placed on those resources for future use, as well as $6,303 for non-spendable amounts, comprised of prepaid items, inventory, deposits and long-term advances made to other funds.

Highway Impact FeesSpecial Capital

General Revenue ProjectsFund Fund Fund

Fiscal Year 2018Revenues and other sources $ 301,588 $ 43,131 $ 13,114 Expenditures and other uses 286,475 46,195 8,495 Increase (decrease) in

fund balance $ 15,113 $ (3,064) $ 4,619

Fiscal Year 2017Revenues and other sources $ 273,355 $ 41,295 $ 3,869 Expenditures and other uses 268,934 39,609 19,096 Increase (decrease) in

fund balance $ 4,421 $ 1,686 $ (15,227)

Major Governmental Fund Information

General Fund The General Fund is the chief operating fund of the County. At September 30, 2018, the total fund balance in the General Fund was $114,072, of which $96,508 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 42.02% and 35.55% for fiscal year 2018 as compared to 39.52% and 33.50%, respectively, for 2017. The County unemployment rate of 2.9% is lower than the state unemployment rate of 3.5%, and also less than the Federal rate of 3.7%. Total revenues in the General Fund increased 8.87%, driven in part by property tax revenues, sales tax revenues and an increase in payment in lieu of franchise fees, which are based on operating revenues collected by the water and sewer fund. Expenditures increased 8.42%, which included public safety and human services expenditures. When these changes in revenue and expenditures are combined with transfer activity, the General Fund experienced a net increase to fund balance of $15,113, as compared to fiscal year 2017’s net increase to fund balance of $4,421. Other Major Governmental Funds The major governmental funds table also features information regarding the other two major governmental funds of the County. Data for Highway Special Revenue and Impact Fees Capital Projects are presented for fiscal years 2018 and 2017. The Highway Special Revenue fund’s revenues increased by $838 in fiscal year 2018. Most of this increase is from ad valorem revenues, which increased by $976, as the County’s property values continue a steady rise over prior years. Gas tax revenues were lower by $187 due to slow tourism in the late summer related to red tide. Operating costs were slightly higher by $349 over the prior year, due to $244 in technology enhancements at the Traffic Management Center. Transfers from the Impact Fees 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. Transfers to the Impact Fees Capital Project fund increased by $9,100 in 2018 as the fund received transfers for the purchase of the $6,851 Premier Sports Complex and $2,500 for University Parkway improvements. Expenditures in 2018 decreased by $10,601 as sections of the 44th Avenue East project were completed and the Ft. Hamer Bridge and related roadways were completed and opened in 2018.

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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 19 and 20. Budget columns are provided for both the original budget adopted for fiscal year 2018 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 and transfers from other fund categories. Revenue budget adjustments for intergovernmental revenue included increases for red tide cleanup, a cybersecurity grant and an increase in the statewide revenue sharing. The increase in transfers from other funds is the result of additional grant revenues of the Sheriff and repayment of interfund loans.

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 Payment in Lieu of Franchise Fee from Utilities. The difference in charges for services is from a decrease in ambulance service revenue, related to contract billings. Miscellaneous revenues were greater than expected this year, due to various Sheriff’s revenues, which includes the sale of an old helicopter and additional off duty security revenue. Interest earnings had an increase greater than anticipated this year, accounting for the difference from the budgeted amount.

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

Information Technology $ 1,229 Roll forward of prior year amounts and additional appropriations for employee compensation, technology equipment, infrastructure and security.

Neighborhood Services 7,552 Roll forward of prior year amounts and additional appropriations to establish health care funding.

Parks & Natural Resources 1,870 Roll forward of prior year amounts and additional appropriations due to red tide.

Property Management 1,453 Roll forward of prior year amounts for equipment and maintenance with additional appropriations for employee compensation and the property maintenance of the newly acquired Premier Sports Campus.

Public Safety 1,271 Roll forward of prior year amounts with additional appropriations for security and employee compensation.

Sheriff 9,977 Roll forward of prior year amounts with additional appropriations for employee compensation, health services, new facility lease and victim service programs.

Budget increases in transfers to other funds of $562 were for grant matches, court technology, vehicles and capital projects for the Lincoln Park pool and sidewalk projects.

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

PositiveGeneral Fund Department Variance Reason for variance

Clerk of Circuit Court $ 1,462 Appropriations for the Clerk encumbered but not expended, appropriations for purchases of software, servers, and other electronic equipment.

Information Technology 1,554 Various software and hardware enhancement costs not expended, appropriations for projects such as OneSolution carried over to the next fiscal year.

Neighborhood Services 3,415 Appropriations encumbered but not expended in the current year related to reimbursements to non-profit agencies based on services provided.

Parks & Natural Resouces 1,667 Appropriations for the management and clean-up of red tide.

Property Management 2,113 Appropriations for renovations and improvements at multiple County facilities, which includes the Sheriff's dispatch center at the Emergency Operations Center. Amounts are also associated with the continued maintenance and repair of County buildings and park facilities.

Public Safety 2,168 Appropriations for personal services, operating and medical supplies, software and equipment not expended in the current year and will be carried over to the next fiscal year.

Sheriff 9,543 Appropriations for continuing renovations of the property and evidence storage facility, replacement of vehicles, computer software, and equipment were not expended in the current year and will be carried over to next fiscal year.

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, 2018, total net position amounted to $1,113,111 for enterprise funds as compared to $1,058,976 at September 30, 2017, as restated. 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 $54,135 was $9,428 less than fiscal year 2017, as restated, representing a 17.42% decrease, which is attributable to a decrease in capital grants and contributions revenue, offset by higher operating revenues. 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 shows a continued increase in operating revenue resulting from a rate increase of 4% which went into effect in April of 2018 and from strong growth in the number of new customer accounts. The increase in personal services is due to an increase in pension expense and to salary increases that were effective in October of 2017. Operating expenses have increased by $5,607 due to the revenue-based calculation for the payment in lieu of franchise fees and by water transmission and collection expenses, offset by a decrease in facilities repair and maintenance costs. Also due to growth in the number of customer accounts, the Solid Waste Fund’s revenues increased by $1,498. Its operating expenses are $12,133 higher than in the prior year, largely due to an increase in the landfill closure estimate and cleanup from Hurricane Irma. The Port Authority has a net income from operations of $1,975, which is $778 higher than 2017. This is due to significant increases in Port operating revenues

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related to the volume of activity at the Port. Dry bulk products, including phosphate and sulphur showed large increases this year as well as petroleum. Operating expenses were up mainly due to personal services increases in pension expense. The Transit Fund typically has a loss at the net operations level because it recovers a large percentage of its costs from operating grants. Operating revenues were down slightly compared to prior year due to changes in route frequency and type of bus service. The Paratransit program was expanded, which with raises, contributed to operating expenses being $1,305 higher than in 2017. The Transit Fund also receives transfer funding from the Highway Special Revenue Fund, which increased this year due to a decrease in operating grants. The Stormwater Fund’s operating revenues decreased over the prior year from a decrease in projects billed to other county departments, and it continued to receive transfers from the Solid Waste Fund in support of its operations. The Stormwater Fund’s operating expenses increased this year in personal services due to an increase in storm and hurricane activity. Likewise, the Civic Center receives transfers from the Tourist Development Special Revenue Fund to support its operations. The Civic Center Fund’s operating revenues are up by $11 as a result of a steady increase in events, but are offset by increasing utility and staff costs related to the higher number of events. Additional operating expense can be attributed to cooling system repairs and higher indirect costs.

2018 2017 (1)

Water and Sewer $ 28,203 $ 27,971 Port Authority 1,975 1,197 Solid Waste (1,435) 9,200 Transit System (14,977) (13,656) Stormwater (6,895) (5,960) Civic Center (647) (662)

Total $ 6,224 $ 18,090

(1) Fiscal year 2017 amounts have been restated due to implementation of GASB 75.

Operating Income (Loss)

Major enterprise funds are shown on pages 22 to 26, and nonmajor enterprise funds appear in greater detail on pages 95 to 98 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 $5,737, which was $5,854 greater than the $117 decrease in net position for fiscal year 2017, as restated, primarily due to decreases in insurance claims in the Self Insurance and Health Self Insurance funds. The Communications Fund experienced a decline in net position as a result of the implementation of a new telephone system for the County. With the exception of the declines in the Central Stores and Communications funds, internal service funds posted positive changes in net position for fiscal year 2018. Internal service funds appear on pages 99 to 102. Capital Assets The financial statements present capital assets in two groups: assets subject to depreciation, such as equipment or operational facilities, and 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, 2018 totaled $2,154,884 while September 30, 2017 totaled $2,085,738. This investment in capital assets, 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 2018 and 2017:

2018 2017 Increase Percent

Governmental funds $ 1,110,088 $ 1,081,218 $ 28,870 2.67%Proprietary funds $ 1,044,796 $ 1,004,520 $ 40,276 4.01%

Comparison of Increase in Capital Assets

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. General government's donated infrastructure in fiscal year 2018 amounted to $4,418; last year donated infrastructure was $5,383. The majority of the total fiscal 2018 activity consisted of $4,277 of donated road and drainage infrastructure; in 2017, there were $4,801 of similar donated assets within the governmental activities.

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Donated water, sewer, and reclaimed infrastructure in fiscal year 2018 amounted to $20,374 and $16,100 in 2017. 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 $13,680 this fiscal year. This amount is principally attributed to the purchase of land for various transportation projects within the County, to include but not limited to the 44th Avenue expansion. In addition to transportation projects, the Braden River Preserve and the Premier Sports Complex were purchased.

In fiscal year 2018, Water and Sewer completed the South West Water Reclamation Facility Phase 1 Process

Modifications for $22,461, the North Water Reclamation Facility Sludge Holding Improvements for $4,278, the Sewer Gravity Main 1D Replacement for $3,885 and the South East Water Reclamation Facility Internal Recycle Pumps for $2,808. During fiscal year 2017, Water and Sewer completed the South East Water Reclamation Facility - 10MG Storage Tank for $9,563, the South East Water Reclamation Facility - Lake Filtering System for $5,569, the South East Water Reclamation Facility Maintenance Building for $2,980, and the 66th Street district building renovation for $2,486.

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; $10,863 was added this fiscal year for a total investment of $61,270.

In 2018, Transit received 6 busses for $1,289. During fiscal year 2017, Transit completed the new Manatee County Transit Fleet Facility for $16,889 and received 1 bus for $96.

In fiscal year 2018, the Port Authority completed improvements on Berths 4, 5, and 12 and Cathodic Protection on Berth 14 for a total of $247. During fiscal year 2017, the Port Authority completed the reconstruction of Berth 9 for $10,318, the Intermodal Container/Transfer Yard for $3,309 and the South gate renovations for $1,107.

In fiscal year 2018, Solid Waste purchased 5 pieces of Caterpillar heavy equipment for $2,702. During fiscal year 2017, Solid Waste’s increase in land and other nondepreciable assets is due to the continuation of the Lena Road Landfill stage III project for $71 and the start of the operation storage building project for $119. Solid Waste also purchased two pieces of Caterpillar heavy equipment for $1,982.

Additional information on Manatee County’s capital assets can be found in Note 8 on pages 43 and 44 of this report. Debt Administration

At September 30, 2018, Manatee County had total bonded debt outstanding of $407,549, an increase of $102,387 from the September 30, 2017 outstanding balance of $305,162. As per the following table, general obligation debt decreased by $635 during the past fiscal year and revenue bonds increased by $103,022. This increase in revenue bonds reflects the issuance of a $55,075 Utilities Revenue Refunding Bond 2017 for the purpose of advance refunding, on a crossover basis, the Public Utilities Revenue Improvement Build America Bonds 2010A and Public Utilities Revenue Improvement Recovery Zone Economic Development Bonds 2010B and the issuance of $74,695 Utilities Revenue Improvement Bonds 2018 for the purpose of financing certain additions, extensions and improvement to the Manatee County Public Utilities System, reimbursing the County for certain prior related capital expenditures and paying costs of issuing the bonds. Revenue notes increased by $16,846, a reflection of the issuance of a $36,000 Transportation Revenue Improvement and Refunding Note, which refunded the $18,600 of the outstanding Transportation Revenue Improvement Note, Series 2016 and the issuance of a $2,000 Manatee County School Board Infrastructure Loan for the purpose of building roads needed for a new school. These along with the Florida Department of Transportation State Infrastructure Bank Loans, the Revenue Improvement Note 2013, and the Port Authority Revenue Notes 2014A and 2014B amounted to $49,757 at September 30, 2018, an increase of $18,602 from the prior year. During the current fiscal year, final scheduled payments were made on the General Obligation Bonds and the Transportation Revenue Improvement Note, Series 2016. The County’s non ad valorem bonds have ratings of AA+ and Aa1 from Fitch’s, Inc. and Moody’s, respectively. The Public Utilities’ revenue bonds have ratings of AAA and Aa1 from Fitch’s and Moody’s respectively. The Port’s revenue bonds have ratings of AA+ and Aa2 from Fitch’s, Inc. and Moody’s, respectively.

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Increase2018 2017 (Decrease)

General Obligation Bonds $ - $ 635 $ (635) Revenue Bonds 407,549 304,527 103,022 Revenue Notes 43,385 26,539 16,846 Florida Department of Transportation

State Infrastructure Bank Loans 4,372 4,616 (244) Manatee County School Board Loan 2,000 - 2,000

Total $ 457,306 $ 336,317 $ 120,989

Outstanding Debt

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 45 to 50 of this report. Economic Factors and Year 2019 Budgets and Rates Factors considered in preparing Manatee County’s budget for the 2019 fiscal year included: • The Consumer Price Index increased 2.3% 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 2018 was 2.9%, a decrease from the 3.3% rate reported in the previous fiscal year.

• The number of construction permits issued (not rounded) in fiscal year 2018 was 29,679. This is 4,905 more than the previous year, a 19.8% increase. Rapid growth in the metropolitan area accounts for the increase in permits issued.

• Population increased by 2.45% from the fiscal year ending September 30, 2017 to 377,826.

• Interest earnings rates increased notably in fiscal year 2018, resulting in an average portfolio yield of 1.481%. As in prior years, interest earnings continue to be budgeted on a conservative basis for revenue purposes.

During fiscal year 2018, total fund balance in the General Fund increased by $15,113. As previously discussed, this was primarily attributed to a major increase in ad valorem taxes collected, along with increases in sales tax collections and interest earned, in addition to a federal grant received for Hurricane Irma. The 2018 appropriations budget included contingency budgets for operations of $5,104 and salaries of $59. All funds carried over in the General Fund from fiscal year 2018 are planned for expenditures, with the exception of a $48,172 undesignated cash reserve. The County’s healthy fund balance and fiscal restraint combined to enable the County to keep the countywide tax millage rate unchanged for the 2019 fiscal year.

Manatee County Public Utilities System bonds may necessitate periodic rate increases to maintain the County’s system,

as needed. There was a utility rate increase of 4%, effective April 2018.

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.

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http://www.bls.gov/news.release/cpi.nr0.htm

Basic Financial Statements

Louise Rogers Johnson, 1910-1992Louise Rogers Johnson pursued a career in education at the age of 14. After going to school at Bethune-Cookman College (and working under Dr. Mary McLeod Bethune), Louise returned to Manatee County where she began teaching in the segregated school system and continued to teach through desegregation. During her career, she taught students of all races, was the first African-American to serve on the School Board, eventually becoming the Board Chair, and was Manatee County’s Distinguished Citizen in 1987.


BASIC FINANCIAL STATEMENTS

Governmental Business-typeTotal Total

Assets Liabilities

Current assets: Current liabilities: Cash and cash equivalents $ 464,221 $ 284,418 $ 748,639 Accounts payable 18,352 9,124 27,476 Accounts receivable (net) 4,586 21,029 25,615 Wages and benefits payable 8,707 1,612 10,319 Interest receivable 972 539 1,511 Due to other governmental units 5,312 10 5,322 Internal balances (17,545) 17,545 - Contracts and retainages payable 2,722 5,688 8,410 Assessments receivable 19 19 38 Performance bonds payable 106 - 106 Due from other governmental units 16,106 4,339 20,445 Claims payable 12,491 - 12,491 Prepaid items 4,860 462 5,322 Compensated absences 1,043 266 1,309 Inventory 2,776 3,760 6,536 Unearned revenue 2,163 - 2,163 Deposits 480 968 1,448 Deposits 306 663 969 Total current unrestricted assets 476,475 333,079 809,554 Bonds, notes and loans payable 41,137 399 41,536

Total current liabilities 92,339 17,762 110,101 Current restricted assets: Cash and cash equivalents 22,652 98,902 121,554 Current liabilities (payable from restricted assets): Investments - 62,954 62,954 Accounts payable 2,304 576 2,880 Interest receivable 53 62 115 Interest payable 14 1,390 1,404 Total current restricted assets 22,705 161,918 184,623 Contracts and retainages payable 1,410 2,192 3,602 Total current unrestricted and Deposits - 8,629 8,629 restricted assets 499,180 494,997 994,177 Total current liabilities (payable from

restricted assets) 3,728 12,787 16,515

Noncurrent assets: Total current liabilities and current Restricted cash and cash equivalents - 36,281 36,281 liabilities (payable from restricted assets) 96,067 30,549 126,616

Assessments receivable 37 100 137

Land and other nondepreciable assets 264,194 253,960 518,154 Noncurrent liabilities:

Capital assets, net of depreciation 845,894 790,836 1,636,730 Compensated absences 27,312 5,085 32,397

Total noncurrent assets 1,110,125 1,081,177 2,191,302 Other post-employment benefits liability 32,303 3,491 35,794

Total assets 1,609,305 1,576,174 3,185,479 Net pension liability 246,471 38,116 284,587

Closure liability - 29,810 29,810 Deferred Outflows of Resources Bonds, notes and loans payable (net) 86,110 351,030 437,140

Total noncurrent liabilities 392,196 427,532 819,728

Deferred charge on refunding 2,005 636 2,641 Total liabilities 488,263 458,081 946,344 Deferred pension outflows 108,147 15,956 124,103

Total deferred outflows of resources 110,152 16,592 126,744 Deferred Inflows of Resources

Deferred other post-employment benefits inflows 3,412 368 3,780

Deferred pension inflows 28,650 4,956 33,606

32,062 5,324 37,386 Net Position

Net investment in capital assets 1,006,820 782,761 1,789,581 Restricted for debt service - 65,078 65,078 Restricted for construction projects - 41 41 Restricted for landfill closure - 6,471 6,471 Unrestricted 192,312 275,010 467,322 Total net position $ 1,199,132 $ 1,129,361 $ 2,328,493

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

Activities ActivitiesActivitiesActivitiesGovernmental

Manatee County, FloridaStatement of Net Position

September 30, 2018(Amounts expressed in thousands

Business-type

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Operating CapitalCharges for Grants and Grants and Governmental Business-type

Functions/Programs Expenses Services Contributions Contributions Activities Activities TotalGovernmental activities: General government $ 99,834 $ 37,332 $ 480 $ - $ (62,022) $ (62,022) Public safety 192,286 23,484 8,577 56 (160,169) (160,169) Physical environment 12,145 182 505 2,483 (8,975) (8,975) Transportation 43,110 22,064 2,963 5,550 (12,533) (12,533) Economic environment 18,951 1,010 3,207 1 (14,733) (14,733) Human services 33,997 166 6,265 - (27,566) (27,566) Culture and recreation 20,222 6,871 522 1,560 (11,269) (11,269) Interest on long-term debt 3,811 - - - (3,811) (3,811) Total governmental activities 424,356 91,109 22,519 9,650 (301,078) (301,078) Business-type activities: Water and sewer 119,036 141,563 468 39,399 $ 62,394 62,394 Port Authority 15,408 16,065 173 682 1,512 1,512 Solid waste 46,988 46,282 - - (706) (706) Transit 16,388 1,283 5,862 2,271 (6,972) (6,972) Stormwater 6,954 59 175 - (6,720) (6,720) Civic Center 2,478 1,824 - - (654) (654) Total business-type activities 207,252 207,076 6,678 42,352 48,854 48,854 Total government $ 631,608 $ 298,185 $ 29,197 $ 52,002 (301,078) 48,854 (252,224)

General revenues:Property taxes 221,469 - 221,469 Gasoline taxes 25,527 - 25,527 Sales tax 24,819 - 24,819 Infrastructure surtax 24,549 - 24,549 Tourism taxes 14,725 - 14,725 Communication services taxes 5,003 - 5,003 Phosphate severance tax 1,056 - 1,056 Vessel tax 368 - 368 State revenue sharing 9,957 - 9,957 Interest income 7,575 206 7,781 Miscellaneous 24,801 155 24,956

Transfers (5,284) 5,284 - Total general revenues and transfers 354,565 5,645 360,210

Change in net position 53,487 54,499 107,986 Net position, October 1, as previously stated 1,107,867 1,067,331 2,175,198 Restatement of net position due to the implementation of GASB 75 37,778 7,531 45,309 Net position, October 1, restated 1,145,645 1,074,862 2,220,507Net position, September 30 $ 1,199,132 $ 1,129,361 $ 2,328,493


Primary GovernmentProgram Revenues Net (Expense) Revenue and Changes in Net Position

Manatee County, FloridaStatement of Activities

For the Fiscal Year Ended September 30, 2018(Amounts expressed in thousands)

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Highway Impact FeesSpecial Capital Other Total

General Revenue Projects Governmental Governmental

Fund Fund Fund Funds Funds

Assets

Cash and cash equivalents $ 113,430 $ 35,014 $ 39,760 $ 234,696 $ 422,900 Accounts receivable (net) 3,696 7 - 62 3,765 Interest receivable 417 63 55 396 931 Due from other funds 1,218 - - 22 1,240 Assessments receivable - - - 56 56 Due from other governmental units 6,059 2,569 - 7,478 16,106 Advance to other funds 2,516 - - 6,000 8,516 Prepaid items 2,577 42 - 106 2,725 Inventory 393 290 - - 683 Deposits 1 - 42 336 379 Total assets $ 130,307 $ 37,985 $ 39,857 $ 249,152 $ 457,301

Liabilities, Deferred Inflows of Resources and Fund Balances

Liabilities: Accounts payable $ 6,353 $ 822 $ 457 $ 7,421 $ 15,053 Wages and benefits payable 7,136 308 - 935 8,379 Due to other funds 17 7 - 1,211 1,235 Due to other governmental units 811 691 - 1,373 2,875 Contracts and retainages payable 7 35 716 3,374 4,132 Performance bonds payable 27 69 - 10 106 Unearned revenue 289 - - 1,497 1,786 Deposits 295 11 - - 306 Advance from other funds 1,300 - - 13,306 14,606 Total liabilities 16,235 1,943 1,173 29,127 48,478

Deferred Inflows of Resources: Unavailable revenue - - - 181 181

Fund balances: Non-spendable 5,487 332 42 442 6,303 Restricted 578 10,181 38,642 188,968 238,369 Committed 1,245 - - 23,357 24,602 Assigned 10,254 25,529 - 8,879 44,662 Unassigned 96,508 - - (1,802) 94,706 Total fund balances 114,072 36,042 38,684 219,844 408,642 Total liabilities, deferred inflows of resources and fund balances $ 130,307 $ 37,985 $ 39,857 $ 249,152 $ 457,301


Governmental FundsSeptember 30, 2018

(Amounts expressed in thousands)

Manatee County, FloridaBalance Sheet

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Differences in amounts reported for governmental activities in the Statement of Net Positionon pages 13:

Fund balances - total governmental funds $ 408,642

Capital assets used in governmental activities are not financial resources and are thereforenot reported in the governmental funds. 1,081,902

Assessment receivables are not available to pay current period expenditures and thereforeare unearned revenue in the funds. 56

Deferred outflows of resources related to pensions apply to a future period consumptionof net position and therefore are not reported in the govermental funds. 106,372

Certain liabilities will not require current financial resources and therefore are not reportedin the governmental funds. (4,696)

Certain liabilities are not due and payable in the current period and therefore are not reported in the funds. Bonds and notes payable $ (127,247) Less: deferred charges on refunding (to be amortized as Interest expense) 2,005 Accrued net pension liability (242,558) Accrued other post-employment benefits (30,394) Accrued compensated absences (27,818) Net adjustment to reduce fund balance - total governmental funds to arrive at net position - governmental activities (426,012)

Deferred inflows of resources related to pensions apply to a future period increase innet position and therefore are not reported in the governmental funds. (28,064)

Deferred inflows of resources related to other post-employment benefits apply to a futureperiod increase in net position and therefore are not reported in the governmental funds. (3,209)

The assets and liabilities of Internal Service Funds (fund used to charge the costs of certainactivities to individual funds) are included in the governmental activities in the Statement of

Net Position. 64,141

Total net position $ 1,199,132


Manatee County, FloridaReconciliation of the Balance Sheet of Governmental Funds

to the Statement of Net PositionSeptember 30, 2018


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General Revenue Projects Governmental GovernmentalFund Fund Fund Funds Funds

Revenues: Taxes $ 183,248 $ 28,620 $ - $ 74,717 $ 286,585 Licenses and permits 827 - - 39,211 40,038 Intergovernmental 54,296 5,962 - 18,311 78,569 Charges for services 36,887 1,174 - 6,099 44,160 Fines and forfeitures 575 - - 6,495 7,070 Interest income 2,084 612 513 3,412 6,621 Assessments - - - 23 23 Contributions 1,023 949 - 3,373 5,345 Miscellaneous 6,886 584 1 1,440 8,911 Total revenues 285,826 37,901 514 153,081 477,322

Expenditures: Current: General government 71,898 - - 10,953 82,851 Public safety 163,009 - - 16,778 179,787 Physical environment 3,157 - - 3,392 6,549 Transportation - 23,657 - 3,488 27,145 Economic environment 5,789 - - 13,751 19,540 Human services 17,697 - - 15,001 32,698 Culture and recreation 9,205 - - 7,685 16,890 Intergovernmental 730 4,136 - 1,202 6,068 Debt service - - - 38,376 38,376 Capital projects - - 8,495 43,012 51,507 Total expenditures 271,485 27,793 8,495 153,638 461,411 Excess (deficiency) of revenues over expenditures 14,341 10,108 (7,981) (557) 15,911

Other financing sources (uses): Loan and note proceeds - - - 38,000 38,000 Transfers from other funds 15,762 5,230 12,600 63,112 96,704 Transfers to other funds (14,990) (18,402) - (69,596) (102,988) Total other financing sources (uses) 772 (13,172) 12,600 31,516 31,716

Net change in fund balances 15,113 (3,064) 4,619 30,959 47,627

Fund balances, October 1 98,959 39,106 34,065 188,885 361,015

Fund balances, September 30 $ 114,072 $ 36,042 $ 38,684 $ 219,844 $ 408,642


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

Governmental FundsFor the Fiscal Year Ended September 30, 2018


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Differences in amounts reported for governmental activities in the Statement of Activities on pages 14:

Net change in fund balances - total governmental funds $ 47,627

Capital outlay, reported as expenditures in governmental funds, are shown as capitalassets in the Statement of Net Position. 60,199

Donations of capital assets are not financial resources to governmental funds, however, increase net position in the Statement of Net Position. 4,477

Depreciation expense on governmental capital assets included in the governmentalactivities in the Statement of Activities. (37,640)

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. (747)

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

Debt issued or incurred: Issuance of revenue and improvement note $ (36,000) Issuance of loan (2,000)

Principal repayments: Bond principal payments 33,941 Net adjustment to increase net changes in fund balances - total governmental funds (4,059)

The amortization of bond premium 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 (654) Amortization of bond premium 1,292 Net adjustment to increase net changes in fund balances - total governmental funds to arrive at changes in net position of governmental activities 638

The (increase) decrease in certain accrued liabilities reported in the Statement of Activitiesdoes not require the use of current financial resources and therefore is not reported asexpenditures in the governmental funds: Accrued liability for amounts due to the State of Florida (2,437) Accrued net pension liability (6,526) Accrued other post-employment benefits 3,158 Accrued compensated absences (1,119) Other accrued liabilities (1,412)

The increase (decrease) in deferred outflows of resources related to pensions does not require the use ofcurrent governmental fund financial resources and therefore are not reported in the governmental funds. (1,533)

The increase (decrease) in deferred inflows of resources related to pensions does not require the use ofcurrent governmental fund financial resources and therefore are not reported in the governmental funds. (9,280)

The (increase) decrease in deferred inflows of resources related to other post-employment benefits does notrequire the use of current governmental fund financial resources and therefore are not reported in thegovernmental funds. (3,209)

Assessment revenues will not be collected for several months after the fiscalyear and are deferred in the governmental funds. (23)

The net revenues of internal service funds (funds used to charge the costs ofcertain activities to individual funds) are reported with governmental activities. 5,373

Change in net position $ 53,487


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, 2018


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Original Budget

Final Budget Actual

Variance with Final

Budget Positive

(Negative)Revenues: Taxes $ 179,483 $ 179,483 $ 183,248 $ 3,765 Licenses and permits 723 723 827 104 Intergovernmental 50,804 53,419 54,296 877 Charges for services 40,766 41,178 36,887 (4,291) Fines and forfeitures 618 618 575 (43) Interest income 500 500 2,084 1,584 Contributions 864 865 1,023 158 Miscellaneous 5,124 5,512 6,886 1,374 Total revenues 278,882 282,298 285,826 3,528

Expenditures: Current: General government Clerk of circuit court 13,723 14,156 12,694 1,462 County administration 2,964 3,253 3,099 154 County attorney 2,631 2,855 2,673 182 Court administration 1,408 1,458 1,423 35 Financial management 2,119 2,356 2,011 345 General government 2,209 2,185 1,592 593 Guardian ad litem 51 51 11 40 Human resources 1,540 1,704 1,491 213 Information technology 10,063 11,292 9,738 1,554 Neighborhood services 147 147 136 11 Property appraiser 5,396 5,585 5,507 78 Property management 12,882 13,474 11,930 1,544 Public defender 142 148 148 - Sheriff 5,399 5,400 5,358 42 State attorney 281 281 277 4 Supervisor of elections 2,571 3,167 2,408 759 Tax collector 12,146 12,176 11,402 774 Total general government 75,672 79,688 71,898 7,790

Public safety Court administration 357 373 339 34 Neighborhood services 4,326 4,780 4,572 208 Ordinance codification 11 11 10 1 Parks & natural resources - 1,500 208 1,292 Public safety 23,215 24,401 22,431 1,970 Sheriff 134,974 144,950 135,449 9,501 Total public safety 162,883 176,015 163,009 13,006

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

Manatee County, FloridaGeneral Fund

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


-19-

Original Budget

Final Budget Actual

Variance with Final

Budget Positive

(Negative) Physical environment Neighborhood services 64 64 63 1 Parks & natural resources 3,121 3,229 3,094 135 Total physical environment 3,185 3,293 3,157 136

Economic environment Convention & visitors center - 188 110 78 Financial management 4,246 4,246 4,211 35 Neighborhood services 421 427 278 149 Property management - 513 444 69 Redevelopment & economic opportunity 1,136 1,157 746 411 Total economic environment 5,803 6,531 5,789 742

Human services Neighborhood services 10,937 18,029 15,063 2,966 Property management 228 228 169 59 Public safety 2,578 2,663 2,465 198 Total human services 13,743 20,920 17,697 3,223

Culture & recreation Neighborhood services 162 162 82 80 Parks & natural resources 3,030 3,292 3,052 240 Property management 6,164 6,512 6,071 441 Total culture & recreation 9,356 9,966 9,205 761

Intergovernmental - - 730 (730)

Total expenditures 270,642 296,413 271,485 24,928

Excess (deficiency) of revenues over expenditures 8,240 (14,115) 14,341 28,456

Other financing sources (uses): Reserved for contingencies (14,715) (4,672) - 4,672 Transfers from other funds 13,878 16,628 15,762 (866) Transfers to other funds (14,749) (15,311) (14,990) 321 Total other financing sources (uses) (15,586) (3,355) 772 4,127

Net change in fund balances (7,346) (17,470) 15,113 32,583 Fund balances, October 1 98,959 98,959 98,959 - Fund balances, September 30 $ 91,613 $ 81,489 $ 114,072 $ 32,583


Manatee County, FloridaGeneral Fund - Continued

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


-20-

Variance withFinal Budget

Original Final PositiveBudget Budget Actual (Negative)

Revenues: Taxes $ 27,729 $ 27,753 $ 28,620 $ 867 Intergovernmental 5,745 5,767 5,962 195 Charges for services 628 628 1,174 546 Interest income 151 151 612 461 Contributions - 573 949 376 Miscellaneous 261 261 584 323 Total revenues 34,514 35,133 37,901 2,768

Expenditures: Current: Transportation 30,026 34,390 23,657 10,733

Intergovernmental 4,196 4,201 4,136 65 Total expenditures 34,222 38,591 27,793 10,798

Excess (deficiency) of revenues over expenditures 292 (3,458) 10,108 13,566

Other financing sources (uses): Reserved for contingencies (1,693) (757) - 757 Transfers from other funds 4,838 5,230 5,230 - Transfers to other funds (15,967) (18,402) (18,402) - Total other financing sources (uses) (12,822) (13,929) (13,172) 757

Net change in fund balances (12,530) (17,387) (3,064) 14,323 Fund balances, October 1 39,106 39,106 39,106 - Fund balances, September 30 $ 26,576 $ 21,719 $ 36,042 $ 14,323



Manatee County, FloridaHighway Special Revenue Fund

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


-21-

GovernmentalActivities -

Water Port Solid Other Internal Service

Assets and Sewer Authority Waste Funds Total Funds

Current unrestricted assets: Cash and cash equivalents $ 241,530 $ 12,570 $ 16,706 $ 13,612 $ 284,418 $ 63,973 Accounts receivable (net) 14,157 1,597 5,247 28 21,029 821 Interest receivable 403 20 94 22 539 94 Assessments receivable 19 - - - 19 -

Due from other governmental units 181 242 - 3,916 4,339 -

Prepaid items 267 82 91 22 462 2,135

Inventory 3,721 - - 39 3,760 2,093

Deposits 813 65 - 90 968 101

Total current unrestricted assets 261,091 14,576 22,138 17,729 315,534 69,217

Current restricted assets:

Cash and cash equivalents 94,894 2,248 1,760 - 98,902 -

Investments 62,954 - - - 62,954 -

Interest receivable 57 5 - - 62 -

Total current restricted assets 157,905 2,253 1,760 - 161,918 -

Total current unrestricted and restricted assets 418,996 16,829 23,898 17,729 477,452 69,217

Noncurrent assets:

Restricted cash and cash equivalents - - 36,281 - 36,281 -

Advance to other funds - - 1,300 - 1,300 4,790 Assessments receivable 100 - - - 100 - Land and other nondepreciable assets 167,902 50,073 7,100 28,885 253,960 4,620 Capital assets, net of accumulated depreciation 643,456 83,876 23,541 39,963 790,836 23,566 Total noncurrent assets 811,458 133,949 68,222 68,848 1,082,477 32,976 Total assets 1,230,454 150,778 92,120 86,577 1,559,929 102,193

Deferred Outflows of Resources

Deferred charge on refunding 539 61 36 - 636 - Deferred pension outflows 9,060 1,794 1,092 4,010 15,956 1,775 Total deferred outflows of resources 9,599 1,855 1,128 4,010 16,592 1,775


Business-type ActivitiesEnterprise Funds


Proprietary FundsSeptember 30, 2018

(Amounts expressed in thousands

-22-


Water Port Solid Other Internal ServiceLiabilities and Sewer Authority Waste Funds Total Funds

Current liabilities: Accounts payable $ 4,538 $ 481 $ 3,588 $ 517 $ 9,124 $ 3,528 Wages and benefits payable 937 172 109 394 1,612 158 Due to other funds - - - 5 5 - Due to other governmental units 8 - 2 - 10 - Contracts and retainages payable 4,730 115 199 644 5,688 - Claims payable - - - - - 12,491 Compensated absences 155 35 16 60 266 19 Unearned revenue - - - - - 252 Deposits 102 - 28 533 663 - Notes payable - 399 - - 399 - Total current liabilities 10,470 1,202 3,942 2,153 17,767 16,448 Current liabilities (payable from restricted assets): Accounts payable 576 - - - 576 - Interest payable 1,390 - - - 1,390 - Contracts and retainages payable 2,192 - - - 2,192 - Customer deposits 6,876 - 1,753 - 8,629 - Total current liabilities (payable from restricted assets) 11,034 - 1,753 - 12,787 - Total current liabilities and current liabilities (payable from restricted assets) 21,504 1,202 5,695 2,153 30,554 16,448 Noncurrent liabilities: Compensated absences 2,823 791 407 1,064 5,085 518 Other post-employment benefits liability 2,227 575 115 574 3,491 1,909 Net pension liability 22,213 4,189 2,700 9,014 38,116 3,913 Closure liability - - 29,810 - 29,810 - Bonds, notes and loans payable (net) 309,190 40,584 1,256 - 351,030 - Total noncurrent liabilities 336,453 46,139 34,288 10,652 427,532 6,340 Total liabilities 357,957 47,341 39,983 12,805 458,086 22,788

Deferred Inflows of Resources

Deferred other post-employment benefits inflows 235 61 12 60 368 203 Deferred pension inflows 3,064 600 418 874 4,956 586 Total deferred inflows of resources 3,299 661 430 934 5,324 789

Net Position

Net investment in capital assets 589,522 94,970 29,421 68,848 782,761 28,186 Restricted for debt service 62,818 2,253 7 - 65,078 - Restricted for construction projects 41 - - - 41 - Restricted for landfill closure - - 6,471 - 6,471 - Unrestricted 226,416 7,408 16,936 8,000 258,760 52,205 Total net position $ 878,797 $ 104,631 $ 52,835 $ 76,848 1,113,111 $ 80,391

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds 16,250 Net position of business-type activities $ 1,129,361


Enterprise FundsBusiness-type Activities


Proprietary Funds - ContinuedSeptember 30, 2018


-23-

Water Port Solid Otherand Sewer Authority Waste Funds Total

Operating revenues: Charges for services $ 134,629 $ 15,473 $ 45,034 $ 3,147 $ 198,283 $ 77,573 Miscellaneous 1,701 394 327 155 2,577 4,337 Total operating revenues 136,330 15,867 45,361 3,302 200,860 81,910 Operating expenses: Personal services 26,968 5,062 3,194 11,726 46,950 9,034 Operating expenses 54,634 3,468 40,785 10,761 109,648 63,456 Depreciation 26,525 5,362 2,817 3,334 38,038 5,991 Total operating expenses 108,127 13,892 46,796 25,821 194,636 78,481

Operating income (loss) 28,203 1,975 (1,435) (22,519) 6,224 3,429

Nonoperating revenues (expenses): Operating grants and contributions 468 173 - 6,037 6,678 - Interest income 3,363 198 921 206 4,688 956 Interest expense (9,943) (1,524) (53) - (11,520) - Bond interest rebate 1,763 - - - 1,763 - Bond issue cost (1,308) - - - (1,308) - Gain (loss) on disposition of assets 107 (7) (133) 7 (26) 352 Total nonoperating revenues (expenses) (5,550) (1,160) 735 6,250 275 1,308

Income (loss) before contributions and transfers 22,653 815 (700) (16,269) 6,499 4,737

Capital grants and contributions 39,399 682 - 2,271 42,352 - Transfers in 25 447 1 16,133 16,606 1,035 Transfers out (3,584) - (7,346) (392) (11,322) (35) Change in net position 58,493 1,944 (8,045) 1,743 54,135 5,737

Total net position, October 1, as previously stated 815,750 102,016 60,474 73,205 75,158

Restatement of net position due to the implementation of GASB 75 4,554 671 406 1,900 (504) Total net position, October 1, restated 820,304 102,687 60,880 75,105 74,654Total net position, September 30 $ 878,797 $ 104,631 $ 52,835 $ 76,848 $ 80,391

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds 364 Change in net position of business-type activities $ 54,499


Business-type Activities

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

Proprietary FundsFor the Fiscal Year Ended September 30, 2018


Activities -Internal Service

Funds

GovernmentalEnterprise Funds

-24-


Water Port Solid Other Internal Serviceand Sewer Authority Waste Funds Total Funds

Cash flows from operating activities: Cash received from customers $ 137,456 $ 16,452 $ 45,586 $ 3,387 $ 202,881 $ 9,360 Cash received from other funds for goods and services - - - - - 72,535 Cash payments to vendors for goods and services (30,432) (3,005) (38,296) (4,141) (75,874) (62,974) Cash payments to employees for services (22,115) (4,359) (2,794) (9,774) (39,042) (6,468) Cash payments to other funds (27,950) (772) (2,014) (8,285) (39,021) (1,171) Net cash provided (used) by operating activities 56,959 8,316 2,482 (18,813) 48,944 11,282

Cash flows from noncapital financing activities: Operating grants 467 178 - 6,657 7,302 - Transfers in - 447 - 16,126 16,573 1,035 Transfers out (3,584) - (7,346) (392) (11,322) (2) Decrease in advance to other funds - - - - - 270 Net cash provided (used) by noncapital financing activities (3,117) 625 (7,346) 22,391 12,553 1,303

Cash flows from capital and related financing activities: Acquisition and construction of capital assets (51,168) (404) (4,179) (2,968) (58,719) (8,997) Deposits paid on construction agreements (629) (484) - - (1,113) - Principal payments on debt (10,545) (1,766) (709) - (13,020) - Interest payments on debt (11,103) (1,470) (117) - (12,690) - Bond interest rebate 1,763 - - - 1,763 - Debt proceeds 140,637 183 - - 140,820 - Debt issuing expenses (1,308) - - - (1,308) - Receipt of contributed capital 19,052 718 - 986 20,756 - Proceeds from sale of assets 116 - 160 20 296 493 Net cash provided (used) by capital and related financing activities 86,815 (3,223) (4,845) (1,962) 76,785 (8,504)

Cash flows from investing activities: Purchase of investment securities (64,087) - - - (64,087) - Redemption of investment securities 226 - - - 226 - Interest on investments 3,482 186 907 201 4,776 933 Net cash provided (used) by investing activities (60,379) 186 907 201 (59,085) 933

Net increase (decrease) in cash and cash equivalents 80,278 5,904 (8,802) 1,817 79,197 5,014 Cash and cash equivalents, October 1 256,146 8,914 63,549 11,795 340,404 58,959 Cash and cash equivalents, September 30 $ 336,424 $ 14,818 $ 54,747 $ 13,612 $ 419,601 $ 63,973

Classified as: Current assets $ 241,530 $ 12,570 $ 16,706 $ 13,612 $ 284,418 $ 63,973 Restricted assets 94,894 2,248 38,041 - 135,183 - Cash and cash equivalents, September 30 $ 336,424 $ 14,818 $ 54,747 $ 13,612 $ 419,601 $ 63,973



Manatee County, FloridaStatement of Cash Flows

Proprietary FundsFor the Fiscal Year Ended September 30, 2018


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Water Port Solid Other Internal Serviceand Sewer Authority Waste Funds Total Funds

Reconciliation of operating income (loss) to net cash provided (used) by operating activities:Operating income (loss) $ 28,203 $ 1,975 $ (1,435) $ (22,519) $ 6,224 $ 3,429 Adjustments to reconcile operating income (loss) to net cash provided (used) by operating activities: Depreciation 26,525 5,362 2,817 3,334 38,038 5,991 Provision for uncollectibles 377 - 79 - 456 - Changes in assets, deferred outflows, liabilities and deferred inflows: (Increase) decrease in: Accounts receivable 361 585 69 18 1,033 49 Due from other governmental units - - - (1) (1) - Prepaid items 32 100 65 (5) 192 534 Inventory (38) - - 7 (31) (914) Deposits - - - - - (13)

Deferred pension outflows (21) (180) 1 (353) (553) (34) Increase (decrease) in: Accounts payable 141 151 (307) (41) (56) 2,174 Wages and benefits payable 2 17 4 (65) (42) (22) Due to other funds - - - 5 5 - Due to other governmental units 7 - 2 - 9 - Claims payable - - - - - (1,841) Unearned revenue - - - - - 13 Customer deposits 381 - 77 72 530 - Compensated absences 90 79 (47) 126 248 (26) Other post-employment benefits liability (955) (199) (219) (443) (1,816) 1,405 Net penson liability 285 275 26 620 1,206 115 Closure liability - - 1,186 - 1,186 - Deferred other post-employment benefits inflows 235 61 12 60 368 203 Deferred pension inflows 1,334 90 152 372 1,948 219 Total adjustments 28,756 6,341 3,917 3,706 42,720 7,853 Net cash provided (used) by operating activities $ 56,959 $ 8,316 $ 2,482 $ (18,813) $ 48,944 $ 11,282

Non-cash investing, capital, and financing activities:

Loss on disposition of assets $ - $ 7 $ 133 $ 12 $ 152 $ 92 Acquisition of contributed assets 20,374 - - 317 20,691 - Assets transferred from (to) other funds 25 - 1 7 33 (33)



Manatee County, FloridaStatement of Cash Flows

Proprietary Funds - ContinuedFor the Fiscal Year Ended September 30, 2018


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InvestmentTrust Agency

Assets Fund Funds

Cash and cash equivalents $ 37,528 $ 17,257 Interest receivable 69 - Total assets 37,597 17,257

Liabilities

Due to individuals - 8,425 Due to other governmental units 52 8,832 Total liabilities $ 52 $ 17,257

Net Position

Held in trust for investment members and other purposes $ 37,545


InvestmentTrustFund

Additions Trust members contributions $ 58,843 Interest income 678 Total additions 59,521

Deductions Refunds of trust members contributions (54,062)

Change in net position 5,459 Net position - beginning 32,086 Net position - ending $ 37,545


Manatee County, FloridaStatement of Changes in Fiduciary Net Position

Fiduciary FundsFor the Fiscal Year Ended September 30, 2018


Manatee County, FloridaStatement of Fiduciary Net Position

Fiduciary FundsSeptember 30, 2018


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Manatee County, Florida Notes to Financial Statements

September 30, 2018 (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. 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) is a legally separate entity, but since the County Commission also serves as its governing board and there is a specific benefit or burden relationship between the County and this component unit, it is reported as a blended component unit (enterprise fund). The County Commission also serves as the governing board for the Port Manatee Improvement District and the Southwest County Improvement District (authorized by Ch. 163, Florida Statutes, and Manatee County Ordinances 09-50 and 14-28), both of which are dependent special districts. There is also a specific benefit or burden relationship between the County and these component units; therefore they are reported as blended within the primary government (special revenue and capital project funds). The financial statement presentation of the Port TIF fund and the Community Redevelopment fund in the “other governmental funds” continues to encompass these entities.

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. No separately issued statements are prepared by the Port Manatee Improvement District or the Southwest County Improvement District.

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. 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 the 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.

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Note 1 Summary of Significant Accounting Policies - Continued 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, pension and other postemployment 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. 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.

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Note 1 Summary of Significant Accounting Policies - Continued C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued The County spends restricted amounts first, when both restricted and unrestricted fund balances are 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. 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, libraries 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 one of the largest of the fourteen Florida deepwater seaports, 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. 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.

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Note 1 Summary of Significant Accounting Policies – Continued E. Investments

Florida Statute 218 and the County's investment policy authorize the County to invest surplus funds in the following: 1) the Local Government Surplus Funds Trust Fund Investment Pool under the management of the State Board of

Administration 2) 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 3) negotiable direct obligations of, or obligations of which the principal and interest are unconditionally guaranteed

by, the U.S. Government 4) 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 5) 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

6) 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 7) bankers' acceptances that are eligible for purchase by the Federal Reserve Banks and have a letter of credit rating

of AA or better 8) 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.

County investments are valued in accordance with GASB 72 and 79. Certain investments are stated at fair value while County investments in external investment pools are stated at amortized cost when the pool has qualified and made this election. Interest earned on pooled investments is allocated to the participating funds based on their average daily balance. Individual fund deficits are ignored in the allocation of interest. 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 acquisition 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.

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Note 1 Summary of Significant Accounting Policies – Continued H. Capital Assets - Continued 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 Net 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. Two types of items qualify for reporting in this category. The first type is deferred charges on refunded debt that are reported in the government-wide and proprietary Statements 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 amortized over the shorter of the life of the refunded or refunding debt. The second type of item is related to various actuarial assumption changes and valuations related to the County’s portion of the Florida Retirement System Pension Plan and Retiree Health Insurance Subsidy Program annual valuations, and retirement contribution payments made by the County after the valuation date of the Florida Retirement System’s latest valuation but before the end of the County’s fiscal year.

In addition to liabilities, the Statement of Net 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. Three types of items qualify for reporting in this category. Unavailable revenue arises under the modified accrual basis of accounting, and is one type of item that meets the criteria for inclusion in this category. It is reported only in the governmental funds balance sheet, and is comprised of special assessments and Florida Boater Improvement Program license fees. The second type of item is reported in the government-wide, proprietary, and internal service Statements of Net Position. It consists of various actuarial assumption changes and valuations related to the County’s portion of the Florida Retirement System Pension Plan and Retiree Health Insurance Subsidy Program annual valuations. These amounts are recognized as inflows of resources in the period that they become available. The third type consists of the differences between the expected and actual experience measurement in postemployment benefits with regard to economic or demographic factors. J. 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. K. 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 for unused leave owed to employees separated from active service as of the end of the fiscal year.

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Note 1 Summary of Significant Accounting Policies - Continued L. 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 30th and property taxes levied and payable in November are used to finance expenditures of the subsequent period. M. Pensions Manatee County participates in the Florida Retirement System’s pension plans. For purposes of measuring the County’s net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions and pension expenses, information is included from the Florida Retirement System Pension Plan and Other State Administered Systems’ Comprehensive Annual Financial Reports about the County’s proportion of the fiduciary net position of the Florida Retirement System’s pension plans, which include the Florida Retirement System (FRS) and the Health Insurance Subsidy (HIS) plans. Additions to and deductions from the FRS’ and HIS’ fiduciary net positions have been determined on the same basis as they are reported by the State. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms of each plan. The FRS and HIS plans report investments in accordance with GASB Codification Section I50, Investments. N. Implementation of Governmental Accounting Standards Statements The County implemented the following GASB Statements during the fiscal year ended September 30, 2018:

1) Statement No. 75, “Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions.” This Statement updates the reporting requirements for benefits other than pensions to more closely align with those required for pensions and replaces prior Statements regarding the reporting of these benefits.

2) Statement No. 85, “Omnibus 2017.” This Statement addresses a variety of topics including issues related to blending component units, goodwill, fair value measurement and application, and postemployment benefits.

3) Statement No. 86, “Certain Debt Extinguishment Issues.” This statement improves consistency in accounting and financial reporting for in-substance defeasance of debt using only existing resources, prepaid insurance on debt that is extinguished and requires additional disclosure for all in-substance defeasance transactions.

4) Statement No. 89, “Accounting for Interest Cost Incurred before the End of a Construction Period.” This Statement requires that interest cost incurred before the end of a construction period be recognized as an expense in the period in which the cost is incurred for financial statements prepared using the economic resources measurement focus. Statement No. 89 supersedes GASB Statement No. 62.

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 1st 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.

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Note 2 Budgets and Budgetary Data – Continued

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. 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 Highway Special Revenue Fund, the Unincorporated Services Fund, the Water and Sewer Fund and the Solid Waste Fund. 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, 2018. 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. Furthermore, there are no restrictions on withdrawals. Manatee County’s external investment portfolio was unrated at September 30, 2018. 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. The SBA established the Florida PRIME whereby participants own a share of the pool and not the underlying securities. On September 30, 2018, the County’s Pooled Cash Investment Fund had $435,710 invested in the PRIME account. The Florida PRIME is an external investment pool that meets all of the necessary criteria to elect to measure all of the investments in the Florida PRIME at amortized cost. Therefore, the (County’s) investment in Florida PRIME is reported at amortized cost. The fair value of the position in the pool is equal to the value of the pool’s shares. The Florida PRIME did not participate in a securities lending program in the year ended September 30, 2018, nor was it exposed to any foreign currency risk. The SBA provides separate financial statements for the Florida PRIME (unaudited) as of and for the period ending June 30. It does not issue financial statements as of and for the period ending September 30. At September 30, 2018, there were no redemption fees or maximum transfer amounts, or any other requirements that serve to limit a participant’s daily access to 100% of their account balance. There are potential liquidity limitations on the PRIME pool. The executive director of the pool, upon proper notification to Pool participants, Trustees and various other oversight committees may limit contributions or withdrawals from the PRIME pool for 48 hours if an event occurs which has a material impact on liquidity or operations of the pool. Upon a subsequent vote of the Trustees, the initial restriction can be extended up to, but not exceed, 15 days. No such limitation took place during the year ended September 30, 2018. The PRIME’s weighted average days to maturity was 33 days. Throughout the year, 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 24.5% of the SBA’s PRIME account. At September 30, 2018, the PRIME pool was rated AAAm principal stability fund rating by Standard and Poor’s rating agency.

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Note 3 Cash, Cash Equivalents and Investments - Continued Board of County Commissioners Investment Pool – Continued 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 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 72. At September 30, 2018, the FLGIT portfolio included certain asset-backed securities, corporate securities and mortgage-backed securities. These securities amounted to 22%, 23% and 4% respectively of the FLGIT Investment Trust portfolio. The Day to Day Fund is a short term liquidity fund, and at September 30, 2018 had 20% invested in corporate securities. Both funds’ average credit quality is AAAf and AAAm, respectively, as rated by Standard and Poor’s. In accordance with GASB 72 & 79, new guidelines have been established to measure the valuation of investments and external investment pools. GASB 72 establishes a hierarchy of inputs to valuation techniques used to measure fair value. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets. Level 2 are inputs other than quoted prices included within level 1 that are observable directly or indirectly and level 3 are unobservable inputs. Pooled Investments At September 30, in accordance with GASB 72 and 79, the County’s pooled investments are valued as follows:

Fair FairType and Number of Value Interest Rate / Value Cash

Investments Method Maturity Range Value Hierarchy Equivalents

Local Government Surplus Amortized 2.970%Funds Trust, PRIME Account (1) Cost 10/18 $ 435,710 $ 435,710 - $ 435,710

Institutional Cash Fund (1) Cost 1.000%10/18 25,001 25,001 - 25,001

Florida Local Government CurrentInvestment Trust (1) NAV share 0.377%

value 10/18 38,457 38,472 - 38,472

Florida Local Government Day Amortized 2.082%to Day Fund (1) Cost 10/18 15,583 15,583 - 15,583

U.S. Treasury Notes (23) Qtd 0.822%-2.687%Market 10/18-08/20 184,133 182,308 Level 2 -

Federal Home Loan Bank (9) Qtd 1.387%-2.641%Market 03/19-05/20 73,501 72,966 Level 2 -

Federal Home Loan Qtd 1.035%-2.800%Mortgage Corporation (12) Market 10/18-09/20 86,604 86,102 Level 2 -

Federal National Mortgage Qtd 2.387%-2.700%Association (3) Market 08/19-04/20 21,508 21,137 Level 2 -

Federal Farm Credit Bank (6) Qtd 1.020%-1.732%Market 12/18-07/19 48,000 47,680 Level 2 -

Total Pooled Cash (57) $ 928,497 $ 924,959 $ 514,766

Principal 9/30/2018Value

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Note 3 Cash, Cash Equivalents and Investments - Continued Pooled Investments – Continued Investments classified as level 2 of the fair value hierarchy use valuation techniques that reflect market participant’s assumptions and maximize the use of relevant observable inputs including quoted prices for similar assets, benchmark yield curves and market corroborated inputs. Custodial Credit Risk of Pooled Investments At year-end, the pool had demand deposits of $27,323. All balances in excess of the Federal Deposit 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. The PRIME account was rated AAAm by Standard & Poor’s at September 30, 2018. 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.

Percentage ofTotal Pooled

Investment Type Credit Rating Investments

Federal Home Loan Bank AA+ $ 72,966 7.90%Federal Home Loan Mortgage Corporation AA+ 86,102 9.30%Federal Farm Credit Bank AA+ 47,680 5.20% Total with concentration risk $ 206,748 22.40%

Concentration

Fair ValueRisk at

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, 2018, the County’s weighted average to maturity was .37 years. At September 30, 2018, none of the pooled investments have a maturity greater than two years.

TotalFair

Investment Type Value 0-1 Year 1-2 Years

Local Government Surplus Funds Trust, PRIME account $ 435,710 $ 435,710 $ - Institutional Cash Fund 25,001 25,001 - Florida Local Government Investment (Trust and Day to Day) 54,055 54,055 - U.S. Treasury Notes 182,308 111,261 71,047 Government Sponsored Enterprises 227,885 159,015 68,870 Total $ 924,959 $ 785,042 $ 139,917

Investment Maturities

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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, 2018 AssetsCash and cash equivalents $ 508,116 Investment portfolio at fair value 410,193 Interest receivable 1,418 Total assets $ 919,727

Net PositionHeld in trust for: Other government participants $ 37,597 Internal fund participants 882,130 Total net position $ 919,727

Statement of Changes in Net PositionFor the Fiscal Year Ended September 30, 2018

OperationsInterest income $ 13,231

Capital ParticipationAdditions $ 847,712 Withdrawals (722,066) Net increase in net position from participation 125,646

Net position held in trust for participants at October 1 780,850 Net position held in trust for participants at September 30 $ 919,727

Board of County Commissioners Non-Pooled Investments Non-pooled investments of the Board, which represent the proceeds from the County’s Public Utilities Revenue Refunding Bonds, Series 2017 to be used to finance the debt service on the 2017 bonds until the remaining balance is used to refund the Public Utilities Revenue Improvement Build America Bonds, Series 2010A and Recovery Zone Economic Development Bond, Series 2010B, maturing on or after October 1, 2021. These investments consist of U.S. Treasury Notes held in an Escrow Deposit Trust Fund account with U.S. Bank National Association. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets. Level 2 are inputs other than quoted prices included within level 1 that are observable directly or indirectly, and level 3 are unobservable inputs.

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Note 3 Cash, Cash Equivalents and Investments - Continued Board of County Commissioners Non-Pooled Investments - Continued Non-Pooled Investments At September 30, in accordance with GASB 72 and 79, the County’s non-pooled investments are valued as follows:

Fair FairType and Number of Value Interest Rate / Value Cash

Investments Method Maturity Range Value Hierarchy Equivalents

Cash Fund (1) Cost 1.000%10/18 $ 1 $ 1 - $ 1

U.S. Treasury Notes (5) Qtd 1.375%-1.750%Market 9/18-9/20 63,862 62,954 Level 2 -

Total Non-Pooled Cash (6) $ 63,863 $ 62,955 $ 1

Principal 9/30/2018Value

Investments classified as level 2 of the fair value hierarchy use valuation techniques that reflect market participant’s assumptions and maximize the use of relevant observable inputs including quoted prices for similar assets, benchmark yield curves and market corroborated inputs. Custodial Credit Risk of Non-Pooled Investments U.S. Treasury notes are held in an Escrow Deposit Trust Fund account with U.S. Bank National Association. Credit Risk of Non-Pooled Investments Credit quality risk results from potential default of investments that are not financially sound. The non-pooled investment was rated Aaa by Moody’s at September 30, 2018. 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.

Percentage ofNon-Pooled

Investment Type Credit Rating Investments

U.S. Treasury Notes Aaa $ 62,954 100.00%

ConcentrationRisk at

Fair Value

Interest Rate Risk of Non-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 non-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, 2018, none of the non-pooled investments have a maturity greater than two years.

TotalFair

Investment Type Value 0-1 Year 1-2 Years

Cash Fund $ 1 $ 1 $ - U.S. Treasury Notes 62,954 2,582 60,372 Total $ 62,955 $ 2,583 $ 60,372

Investment Maturities

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Note 3 Cash, Cash Equivalents and Investments - Continued Other Constitutional Officers Demand deposits of the Constitutional Officers at September 30, 2018 amounted to $36,932. 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 $6,373. On September 30, 2018 the Clerk of the Circuit Court and the Property Appraiser had account balances of $4,989 and $1,384, respectively, in the SBA PRIME account.

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Note 4 Fund Balance Fund balances are presented in the following categories: nonspendable, restricted, committed, assigned and unassigned (see Note 1 for a description of these categories). A detailed schedule of fund balances at September 30, 2018 is as follows:


General Revenue Projects Governmental GovernmentalFund Fund Fund Funds Funds

Nonspendable:Advances $ 2,516 $ - $ - $ - $ 2,516Inventory 393 290 - - 683Prepaids/Deposits 2,578 42 42 442 3,104

Total nonspendable fund balance 5,487 332 42 442 6,303

Restricted for:Federal & State grants - - - 1,485 1,485Bond covenants or debt service - - - 121 121Impact fees - - 38,642 54,800 93,442Other transportation projects - 1,258 - - 1,258Road/Bridge maint & improvements - 8,923 - 38,445 47,368Buildings & improvements - - - 828 828Beach renourishment - - - 7,463 7,463Community redevelopment - - - 6,601 6,601Tourist development - - - 9,936 9,936Public safety-Sheriff 27 - - 2,541 2,568Public safety-other - - - 6,363 6,363Public safety-911 - - - 1,394 1,394Building inspections & enforcement - - - 14,627 14,627Court programs - - - 2,617 2,617Other purposes 551 - - 4,697 5,248Library - - - 497 497Infrastructure surtax - - - 36,553 36,553

Total restricted fund balance 578 10,181 38,642 188,968 238,369

Committed for:Road/Bridge maint & improvements - - - 2,192 2,192Other purposes 1,245 - - - 1,245Library - - - 1,404 1,404Special districts - - - 19,362 19,362Beach renourishment - - - 313 313Tourist development - - - 86 86

Total committed fund balance 1,245 - - 23,357 24,602

Assigned for:Transportation operations - 25,529 - - 25,529Parks & recreation 1,175 - - - 1,175Buildings & improvements - - - 73 73Beach renourishment - - - 146 146Public safety-Sheriff 7,014 - - 67 7,081Community & neighborhood services - - - 3,025 3,025Other purposes 2,065 - - 451 2,516Federal & State grants - - - 924 924Tourist development - - - 1,414 1,414Building inspections & enforcement - - - 760 760Children's services - - - 724 724Library - - - 1,295 1,295

Total assigned fund balance 10,254 25,529 - 8,879 44,662

Unassigned fund balance 96,508 - - (1,802) 94,706Total Fund Balances $ 114,072 $ 36,042 $ 38,684 $ 219,844 $ 408,642

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Note 5 Interfund Balances A. Due to/from other funds at September 30: Interfund balances at September 30, 2018 consist of the following amounts: Due to General Fund from: Highway Special Revenue $ 7 Nonmajor governmental funds 1,211 Due to nonmajor governmental funds from: General Fund 17 Nonmajor enterprise funds 5 Total due to/from $ 1,240

This balance resulted from (1) $614 in a loan from the General Fund due to other funds to cover deficit cash balance at September 30, 2018, (2) $593 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 and (3) $33 from a Tax Collector vendor error in processing. B. Advances from/to other funds at September 30: Advances from the General Fund to: Nonmajor governmental funds $ 2,516

These advances consist of a $1,282 advance to tourist development for the renovation ofthe convention and visitors center and a $1,234 advance to fund the Courts technology expenditures.

Advance from Solid Waste to: General Fund 1,300

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

Advance from Internal Service Funds to: Nonmajor governmental funds 4,790

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

Advance from Nonmajor governmental funds to: Nonmajor governmental funds 6,000

This advance is for costs related to acquisition and capital improvements ofPremier Sports Complex.

Total advances from/to $ 14,606

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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 Bank 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 Investments Receivable Total

Water and SewerDebt service funds $ 1,238 $ 62,954 $ 16 $ 64,208 Customer deposits 6,876 - - 6,876 Construction funds 86,780 - 41 86,821

94,894 62,954 57 157,905

Port AuthorityDebt service funds 2,248 - 5 2,253

Solid WasteDebt service funds 7 - - 7 Customer deposits 1,753 - - 1,753 Landfill closure escrow 36,281 - - 36,281

38,041 - - 38,041 Total $ 135,183 $ 62,954 $ 62 $ 198,199

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, 2018, there is one series of outstanding industrial development revenue bonds, with an aggregate principal amount of $16,510.

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Note 8 Capital Assets

Capital assets activity for the fiscal year follows:

October 1 Additions Deductions September 30Governmental Activities:Capital assets not depreciated: Land and other non-depreciable assets $ 185,278 $ 13,680 $ - $ 198,958 Construction in progress 145,228 47,921 127,913 65,236 Total assets not depreciated 330,506 61,601 127,913 264,194 Capital assets depreciated: Buildings 271,597 2,745 12 274,330 Public domain infrastructure 573,241 85,515 - 658,756 Improvements other than buildings 176,047 29,737 204 205,580 Machinery and equipment 160,370 21,434 10,881 170,923 Total assets depreciated 1,181,255 139,431 11,097 1,309,589 Less accumulated depreciation: Buildings 64,357 4,171 5 68,523 Public domain infrastructure 158,926 12,815 - 171,741 Improvements other than buildings 95,240 11,915 201 106,954 Machinery and equipment 112,020 14,730 10,273 116,477 Total accumulated depreciation 430,543 43,631 10,479 463,695 Total depreciable capital assets, net 750,712 95,800 618 845,894 Total governmental activities capital assets, net $ 1,081,218 $ 157,401 $ 128,531 $ 1,110,088

Business-type Activities:Capital assets not depreciated: Land $ 100,702 $ 215 $ - $ 100,917 Construction in progress 143,351 54,663 44,971 153,043 Total assets not depreciated 244,053 54,878 44,971 253,960 Capital assets depreciated: Buildings 124,839 53 - 124,892 System infrastructure 1,209,063 64,062 - 1,273,125 Machinery and equipment 72,462 4,614 3,099 73,977 Total assets depreciated 1,406,364 68,729 3,099 1,471,994 Less accumulated depreciation: Buildings 49,121 3,075 - 52,196 System infrastructure 548,568 30,383 - 578,951 Machinery and equipment 48,208 4,580 2,777 50,011 Total accumulated depreciation 645,897 38,038 2,777 681,158 Total depreciable capital assets, net 760,467 30,691 322 790,836 Total business-type activities capital assets, net $ 1,004,520 $ 85,569 $ 45,293 $ 1,044,796

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Note 8 Capital Assets – Continued Depreciation expense was charged to functions on the Statement of Activities as follows:

Government al Act ivit ies: General government $ 5,381 Public safety 10,664 Physical environment 5,113 Transportation 11,729 Economic environment 56 Human services 142 Culture and recreation 4,555 Internal service funds 5,991 Total $ 43,631

Business-t ype Act ivit ies: Water and sewer $ 26,525 Port Authority 5,362 Solid waste 2,817 Transit 2,718 Stormwater 314 Civic center 302 Total $ 38,038

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, 2018, of the original $8,723 carrying value, $2,942 has been placed back into service. As the Hensley Public Safety Complex continues to undergo renovations, portions of the asset will continue to be placed back into 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 $50,989 represents closure costs of $37,610 for 286 acres of current landfill area and postclosure cost of $13,379 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 57.40% of the remaining 286-acres landfill capacity has been used. The accompanying closure/postclosure liability of $29,810 for this used capacity is reflected as a liability at September 30, 2018 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 increase of $1,186 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 $21,179 remain to be recognized in the estimated twenty-six years of remaining useful landfill design life. 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, 2018, with cash and investments of $36,281 held for these purposes.

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Note 10 Long-Term Debt

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

October 1 Additions Deductions September 30 One Year

Business-type activities: Revenue bonds $ 210,830 $ 129,770 $ 12,220 $ 328,380 $ - Notes payable 2,386 - 376 2,010 399 Loans payable 4,616 183 427 4,372 - Compensated absences 5,103 2,698 2,450 5,351 266 OPEB liability 5,307 212 2,028 3,491 - Net pension liability 36,910 6,353 5,147 38,116 - Closure liability 28,624 1,186 - 29,810 - Total 293,776 140,402 22,648 411,530 665

Governmental activities: Revenue bonds 93,697 - 14,528 79,169 4,940 General Obligation bonds 635 - 635 - - Notes payable 24,153 36,000 18,778 41,375 36,197 Loans payable - 2,000 - 2,000 - Compensated absences 27,262 18,074 16,981 28,355 1,043 OPEB liability 34,056 3,623 5,376 32,303 - Net pension liability 239,830 39,427 32,786 246,471 - Total 419,633 99,124 89,084 429,673 42,180 Total long-term debt $ 713,409 $ 239,526 $ 111,732 $ 841,203 $ 42,845

Due Within

Unamortized discount and premiums on business-type activities revenue bonds amounted to $447 and $17,114 respectively. Unamortized premiums on governmental activities revenue bonds amounted to $4,703. 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 $537 in the internal service funds are included in the above amount. For governmental activities, compensated absences, net pension liability and the OPEB liability are generally liquidated by the General Fund. Claims and judgments are classified as short-term debt.

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Note 10 Long-Term Debt – Continued

Long-term debt payable at September 30, 2018 is composed of the following issues: Revenue Bonds

$17,925 Series 2010A Public Utilities 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 Utilities 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 Utilities Revenue Improvement Bonds with $2,760 of principal due October 1, 2019; interest at 4.00% to 5.00% 2,760

$22,650 Series 2011 Public Utilities Revenue Refunding Bonds with $2,275 of principal due October 1, 2019 to $2,765 due October 1, 2023; interest at 5.00% 12,570

$91,485 Series 2015 Public Utilities Revenue Refunding & Improvement Bonds with $3,415 of principal due October 1, 2019 to $11,220 due October 1, 2039; interest at 3.00% to 5.00% 85,045

$55,075 Series 2017 Public Utilities Revenue Refunding Bonds with $2,645 of principal due October 1, 2021 to $4,930 due October 1, 2035; interest at 4.00% to 5.00% 55,075

$74,695 Series 2018 Public Utilities Revenue Improvement Bonds with $1,590 of principal due October 1, 2022 to $4,210 due October 1, 2048; interest at 3.00% to 5.00% 74,695

$6,605 Series 2012A Port Authority Revenue Refunding Bonds with $295 of principal due October 1, 2019 to $430 due October 1, 2032; interest at 2.00% to 4.00% 5,015

$33,730 Series 2012B Port Authority Revenue Refunding Bonds with $695 of principal due October 1, 2019 to $2,160 due on October 1, 2042;interest at 2.00% to 4.00% 29,995 Total revenue bonds for business-type activities 328,380

$79,640 Series 2013 Revenue Refunding and Improvement Bonds with $10,245 of principal due October 1, 2019 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% 49,615

$6,482 Series 2014 Revenue Improvement Bonds with $295 of principal due January 1, 2019 to $533 due January 1, 2034; with interest at 3.69% 5,619

$35,295 Series 2016 Revenue Improvement Bonds with $4,645 of principal due September 30, 2019 to $4,180 due September 30, 2025; with interest at 1.74% 23,935 Total revenue bonds for governmental activities 79,169 Total revenue bonds $ 407,549

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Note 10 Long-Term Debt - Continued

Notes Payable

$453 Series 2014A Port Authority Revenue Note with$104 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, 2018 the interest rate was 3.14%. $ 104

$3,000 Series 2014B Port Authority Revenue Note due in monthly installments of $24 October 1, 2018 to $21 on September 1, 2024;as of September 30, 2018 the interest rate was 3.15% 1,906 Total notes payable for business-type activities 2,010

$5,984 Revenue Improvement Note 2013 due in semi-annual installments of $97 on March 30, 2019 to $294 September 1, 2033; with interest at 3.67% 5,375

$36,000 Series 2018 Revenue Refunding and Improvement Note with$36,000 due on April 13, 2019 with interest due monthly at rates based on 79% ofLIBOR daily float rate plus 0.38%; as of September 30, 2018 the interest rate was 2.09% 36,000 Total notes payable for governmental activities 41,375 Total notes payable $ 43,385

Loans Payable

$4,500 Florida Department of Transportation State Infrastructure Bank Loandue in annual installments of $237 October 1, 2019 to $146 onOctober 1, 2026; with a maximum principal of $267 due October 1, 2025;interest at 2.00% $ 1,907

$4,000 Florida Department of Transportation State Infrastructure Bank Loandue in annual installments of $196 October 1, 2019 to $217 onOctober 1, 2029; with a maximum principal of $255 due October 1, 2028;interest at 2.92% 2,465 Total loans payable for business-type activities 4,372

$2,000 Manatee County School Board Infrastructure Loandue in annual installments of $667 September 27, 2022 to $666 onSeptember 27, 2024; interest at 1.74% 2,000 Total loans payable for governmental activities 2,000 Total loans payable $ 6,372

All of the revenue bonds and notes, general obligation bonds and loans payable provided funds for the acquisition and

construction of capital improvements. 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.

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Note 10 Long-Term Debt – Continued Debt Service Requirements

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

2019 $ 10,272 $ 15,789 $ 26,061 2020 10,618 15,250 25,868 2021 13,727 14,731 28,458 2022 11,970 14,056 26,026 2023 12,486 13,458 25,944

2024-2028 61,657 57,886 119,543 2029-2033 76,967 40,309 117,276 2034-2038 81,540 20,107 101,647 2039-2043 35,880 6,577 42,457 2044-2048 19,645 2,173 21,818

334,762 200,336 535,098

Governmental Activities: Principal Interest Total2019 51,382 3,578 54,960 2020 16,191 2,567 18,758 2021 10,540 1,918 12,458 2022 5,984 1,632 7,616 2023 6,189 1,327 7,516

2024-2028 24,042 3,710 27,752 2029-2033 7,683 714 8,397

2034 533 20 553 122,544 15,466 138,010

$ 457,306 $ 215,802 $ 673,108

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.

The Public Utilities System was in compliance with their covenants for the year ended September 30, 2018. 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.

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

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, 2018. In regard to the State of Florida Department of Transportation Infrastructure Bank Loan agreements (SIB), 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, 2018. The Port Authority Series 2014A and 2014B Revenue Notes contain a covenant that in each fiscal year pledged revenues

which are available after the annual debt service on the Port Authority Bonds, Series 2012A and 2012B, and SIB loans, will be equal to or exceed one and five-hundredths (1.05) times the annual debt service due in that fiscal year.

The Port Authority was in compliance with this covenant for the year ended September 30, 2018. According to the covenants of the resolution authorizing the issuance of the various governmental revenue bonds, they

are payable solely from and secured by pledged revenues consisting 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. 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, 2018, no amounts had been paid in the current period or cumulatively by either party under this agreement. New Debt Issue On December 28, 2017, the County issued $55,075 of Public Utilities Revenue Refunding Bonds, Series 2017 for the purpose of (1) advance refunding, on a cross-over basis, $15,045 of the Public Utilities Revenue Improvement Build America Bonds, Series 2010A and $45,300 of the Public Utilities Revenue Improvement Recovery Zone Economic Development Bonds, Series 2010B (the 2010 bonds) with maturity dates on and after October 1, 2021; and (2) paying certain costs of issuance with respect to the 2017 cross-over refunding bonds. The net proceeds of $64,308 (including a premium of $9,718 and after payment of $485 in underwriting fees and other issue costs) were deposited into an irrevocable escrow deposit account to provide funds for the payment of interest on the cross-over refunding debt until the cross-over date. At the cross-over date, amounts held in escrow will provide funds for the future debt service payments on the 2010 bonds and those bonds will be considered defeased. Until the cross-over date of October 1, 2021, the 2010 bonds remain as a long-term liability of Manatee County.

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Note 10 Long-Term Debt – Continued New Debt Issue - Continued On April 2, 2018, Manatee County entered into a $36,000 Revenue Improvement and Refunding Note, Series 2018 agreement with Bank of America, N.A.. These note proceeds are to be used for the purpose of financing and refinancing certain capital projects in the County. This refunding did not result in either a loss or economic gain. On May 4, 2018, the County entered into a $2,000 loan agreement, Manatee County School Board Infrastructure Loan, 2018, with the Manatee County School Board. This loan from the School Board is for the purpose of building roads needed for a new school. On September 20, 2018, Manatee County issued $74,695 of Public Utilities Revenue Improvement Bonds, Series 2018. Bond proceeds are to be used for financing certain additions, extensions and improvements to the Manatee County Public Utilities System, reimbursing the County for certain prior related capital expenditures and paying costs of issuing the bonds. Note 11 Refunding of Outstanding Debt

During the current fiscal year, the County did a cross-over advance refunding of the Public Utilities Revenue

Improvement Build America Bonds, Series 2010A and the Public Utilities Revenue Improvement Recovery Zone Economic Development Bonds, Series 2010B (the 2010 bonds), with a principal amount of $60,345. The net proceeds of $64,308 were deposited into an irrevocable escrow deposit account to provide funds for the payment of interest on the cross-over refunding debt until the cross-over date. At the cross-over date of October 1, 2021, amounts held in escrow will provide funds for the future debt service payments on the 2010 bonds and those bonds will be considered defeased. This cross-over refunding did not change the County’s status as the primary obligator on the 2010 bonds. The refunded debt is still reported as a long-term liability within these financial statements.

Note 12 Lease Obligations

Rental expenditures under operating leases for the year ended September 30, 2018 amounted to $1,971. The future

minimum lease payments for the Governmental Funds under non-cancellable long-term operating leases as of September 30 are as follows:

Fiscal Year

2019 $ 1,173 2020 1,009 2021 853 2022 564 2023 573

Thereafter 222 Total $ 4,394

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 $1,875 for the year ended September 30, 2018.

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Note 13 Port Authority Leases – Continued 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 Year

2019 $ 1,804 2020 1,647 2021 1,507 2022 1,401 2023 1,214

2024-2028 3,935 2029-2033 3,902 2034-2038 3,760 2039-2043 2,041 2044-2048 895 2049-2053 216

Total minimum future rentals $ 22,322

The following is a breakdown of the capital assets under lease arrangements or available for lease by major asset class as of September 30:

Cost of AccumulatedAsset Depreciation Carrying Value

Land $ 1,213 $ - $ 1,213 Warehouses 32,946 15,615 17,331 Office space 2,251 1,416 835 Crane 7,939 3,775 4,164 Other 436 401 35

$ 44,785 $ 21,207 $ 23,578

Note 14 Fund Deficits

The following funds had a deficit at September 30: Governmental Funds Miscellaneous Special Revenue – The unassigned fund deficit of $567 is the result of a large interfund transfer to help fund the upgrade of courtroom recording and sounding equipment. Parks and Recreation Capital Projects – The unassigned fund deficit of $1,235 is the result of a large interfund transfer to acquire land for The Braden River Preserve. Enterprise Funds Transit – The negative unrestricted net position of $1,009 is the result of operational costs exceeding revenues and the adjustments related to GASB 68, “Accounting and Financial Reporting for Pensions.” Note 15 Accounts Receivable

Accounts receivable for the General Fund are net of an allowance of $7,211 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 $2,218 of which $1,032 relates to the Water and Sewer Fund, $10 relates to the Port Authority and $1,176 relates to the Solid Waste Fund. Amounts actually written off during the year were $3,480 for EMS billings, $526 for water and sewer and $189 for solid waste.

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Note 16 Interfund Transfers

Transfers to General Fund from: Water and Sewer Fund $ 3,153 Solid Waste Fund 5 Nonmajor governmental funds 12,601 Nonmajor enterprise funds 1 Internal Service Funds 2 Total 15,762

Transfers to Highway Special Revenue Fund from: Nonmajor governmental funds 4,839 Nonmajor enterprise funds 391 Total 5,230

Transfers to Impact Fees Capital Projects Fund from: Nonmajor governmental funds 12,600

Transfers to Nonmajor governmental funds from: General Fund 14,463 Highway Special Revenue Fund 9,700 Solid Waste Fund 341 Nonmajor governmental funds 38,608 Total 63,112

Transfers to Water and Sewer Fund from: Internal Service Funds 25

Transfers to Port Authority from: General Fund 447

Transfers to Solid Waste Fund from: Internal Service Funds 1

Transfers to Nonmajor enterprise funds from: Highway Special Revenue Fund 8,276 Solid Waste Fund 7,000 Nonmajor governmental funds 850 Internal Service Funds 7 Total 16,133

Transfers to Internal Service Funds from: General Fund 80 Highway Special Revenue Fund 426 Water and Sewer Fund 431 Nonmajor governmental funds 98 Total 1,035

Total interfund transfers $ 114,345

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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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 $1,000 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 3% per affected location, with a $250 minimum deductible and a maximum of $20,000. Flood coverage has a 3% deductible per affected location, with a $250 minimum deductible, a maximum deductible of $20,000, and a maximum $75,000 limit. The boiler and machinery policy has a $5 deductible per occurrence. The policy for the County dam has a $100 deductible for all perils other than wind and flood damage, both of which require a 3% 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 $8,520 and $3,971 in the Self Insurance and the Health Self Insurance Funds respectively, reported at September 30, 2018, 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 2017 and 2018 were:

Self Healt h SelfInsurance Insurance Tot al

Balance at October 1, 2016 $ 9,920 $ 4,180 $ 14,100 Current year claims and changes in estimates 5,447 42,514 47,961 Claim payments (5,729) (42,000) (47,729) Balance at September 30, 2017 9,638 4,694 14,332 Current year claims and changes in estimates 3,042 42,521 45,563 Claim payments (4,160) (43,244) (47,404) Balance at September 30, 2018 $ 8,520 $ 3,971 $ 12,491

Note 18 Retirement Plan Manatee County participates in the Florida Retirement System Pension Plan (“FRS Pension Plan”) and the Retiree Health Insurance Subsidy Program (“HIS program”), both of which are cost-sharing multiple employer defined benefit plans managed by the State of Florida, Department of Management Services, Division of Retirement. The County also participates in the Florida Retirement System Investment Plan (“FRS Investment Plan”), a defined contribution plan administered by the State Board of Administration. All full-time Manatee County employees are required to participate in the Florida Retirement System, as part of either the FRS Pension Plan or the FRS Investment Plan.

The Florida Retirement System (“FRS”) was established under the authority of the Florida Legislature in 1970. Statutory authority for plan structure, benefit levels, and contribution rates for the state-administered retirement funds is detailed in Chapters 112 and 121, Florida Statutes, and plan changes or changes in benefit terms must be made by the Legislature. FRS covers over 643,000 full-time employees of various governmental units within the State of Florida. Manatee County’s employees are grouped into four general classes of FRS membership: Regular class, Special Risk class, Elected Officer class and Senior Management Service class. These classes are applicable to both the FRS Pension Plan and the FRS Investment Plan. Regular class participants do not qualify for membership in the other classes. The Special Risk class includes members who are employed as law enforcement officers, firefighters, emergency medical technicians, paramedics and correctional officers. Members who are elected as county officers comprise the Elected Officer class. The Senior Management Service class includes members in senior management level positions.

The Florida Division of Retirement issues a publicly available Comprehensive Annual Financial Report that includes financial statements and required supplementary information for the Florida Retirement System Pension Plan and Other State Administered Systems. The report may be obtained through the Florida Retirement website: www.frs.myflorida.com or by writing to the Department of Management Services, Division of Retirement, Research and Education Section, P. O. Box 9000, Tallahassee, FL, 32315-9000.

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http://www.frs.myflorida.com/



Note 18 Retirement Plan - Continued A. FRS Pension Plan The FRS Pension Plan is a defined benefit plan with retirement benefits based upon age, average compensation and years-of-service credit. Vesting of benefits is based upon date of hire. Regular class, Senior Management Service class and Elected Officers’ class employees hired before July 1, 2011 are vested after 6 years of creditable service and may receive normal retirement benefits at or after age 62 with a minimum of 6 years of service or after 30 years of service, if under age 62. Special Risk class participants hired prior to July 1, 2011 are also vested after 6 years of service, but may receive normal retirement benefits at age 55 with a minimum of 6 years of service, or after 25 years of special risk creditable service, regardless of age. For Regular class, Senior Management Service class and Elected Officers’ class members hired on or after July 1, 2011, vesting occurs after the completion of 8 years of creditable service and normal retirement benefits are available at age 65 with 8 years of service or after 33 years, if under age 65. Special Risk class members hired on or after July 1, 2011 also vest after 8 years of creditable service. They may receive normal retirement benefits at or after age 60 with a minimum of 8 years of service or after 30 years of special risk creditable service, if under age 60. Early retirement is available for vested employees within 20 years of normal retirement age, with a 5% reduction of benefits for each year prior to the normal retirement age. Compensation is computed as the average of an individual's five 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. In addition, the Deferred Retirement Option Program (“DROP”) is available under the FRS Pension Plan when the member first reaches eligibility for normal retirement. The DROP allows a member to retire while continuing employment for up to 60 months. All FRS members, excluding DROP participants, are required to contribute 3% of their salaries to the FRS on a pre-tax basis. Members are immediately vested in their own contributions. The total percentage value of the benefit received is determined by calculating the total value of all service, which is based on the class to which a member belonged when the service credit was earned. The percentage values per year for each class are as follows: Regular class, 1.6%; Senior Management Service class, 2.0%; Elected Officers’ class, 3.0%; and Special Risk class 3.0%. B. FRS Investment Plan The Public Employee Optional Retirement Program (“FRS Investment Plan”) is a defined contribution alternative that is open to regular FRS Pension Plan members in lieu of participation in the FRS Pension Plan, except for those who are in the DROP program. Related employer contributions are made to the FRS Investment Plan, which holds the contributions in individual investment accounts for each participating employee. As with the FRS Pension Plan, participants are required to contribute 3% of their pre-tax salaries. Participants direct their own investments, utilizing the various investment options available through the plan. These investment accounts vest to the employee after one year of service and members are immediately vested in their own contributions. FRS Investment Plan funds may be withdrawn by the employee 90 days after termination or retirement from a participating employer in the FRS. 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. Service retirement benefits are based solely upon value of the member's account upon retirement. Costs of administering the plan are funded through an employer contribution of 0.06% of payroll and by forfeited benefits of plan members. C. Retiree Health Insurance Subsidy The HIS program is a cost-sharing multiple-employer defined benefit pension plan established under Section 112.363, Florida Statutes. The benefit is a monthly payment to assist eligible retirees and beneficiaries of state-administered retirement systems in paying their health insurance costs. All eligible retirees and beneficiaries receive a monthly HIS program payment equal to the number of years of creditable service completed at the time of retirement multiplied by $5. The payments are at least $30 but not more than $150 per month. To be eligible to receive the HIS program benefit, a retiree under a state-administered retirement system must provide proof of health insurance coverage, which can include Medicare. The HIS program is funded by required contributions from FRS participating employers, as set by the Legislature. The HIS program availability is based on the guidelines set forth by the Legislature on an annual basis. Pursuant to Section 112.363 of the Florida Statutes, required employer contributions are a percentage of gross compensation for specified employees. HIS program contributions are deposited in a separate trust fund, from which HIS program payments are authorized. HIS program benefits are not guaranteed and are subject to annual legislative appropriation. In the event the legislative appropriation or available funds fail to provide full subsidy benefits to all participants, benefits may be reduced or cancelled.

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Note 18 Retirement Plan - Continued D. Cost of Living Adjustments FRS Pension Plan benefits received by retirees and beneficiaries are increased by a cost-of-living adjustment each year. The cost-of-living adjustment for those retired or in DROP prior to August 1, 2011, is 3 percent per year. For retirees with an effective retirement date or DROP begin date on or after August 1, 2011, the cost-of-living adjustment is a percentage: the sum of the pre-July 2011 service credit divided by the total service credit at retirement, multiplied by 3 percent. FRS Pension Plan members initially enrolled on or after July 1, 2011, will not have a cost-of-living adjustment after retirement. E. Contributions

Participating employer contributions are based upon statewide rates established by the State of Florida. These rates are applied to employee salaries for the periods from October 1, 2017 through June 30, 2018 and from July 1, 2018 through September 30, 2018 respectively were as follows:

Regular Employees 7.92% 8.26%Elected Officials 45.50% 48.70%Senior Management Service 22.71% 24.06%Special Risk 23.27% 24.50%DROP 13.26% 14.03%

Oct. 1 to June 30

July 1 to September 30

These contribution rates include 1.66% HIS plan subsidy contributions for the same periods. The County’s contributions are equal to the actuarially determined contribution requirements for each year. The County and employee contributions made during the years ended September 30, 2018 and 2017 were as follows:

2018 2017

County contribution $ 26,213 $ 24,265Employee contribution $ 5,291 $ 5,032

F. Long-Term Expected Rate of Return The long-term expected rate of return on pension plan investments was determined by the Florida Retirement System using a forward-looking capital market economic model. This model is applicable for valuation of both the FRS Pension Plan and the HIS program, unless otherwise noted. The table below shows assumptions for each of the asset classes in which the plan was invested based upon the long-term target asset allocation. The allocation policy’s description of each asset class was used to map the target allocation to the asset classes shown below. Each asset class assumption is based on a consistent set of underlying assumptions, and includes an adjustment for the inflation assumption. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized below:

CompoundAnnual Annual

Target (Geomet ric)

Asset Class Allocat ion (1) Ret urn Ret urn

Cash 1.00% 2.90% 2.90%Fixed income 18.00% 4.40% 4.30%Global equity 54.00% 7.60% 6.30%Real estate (property) 11.00% 6.60% 6.00%Private equity 10.00% 10.70% 7.80%Strategic investments 6.00% 6.00% 5.70%Assumed inflation - mean 2.60%

(1) As outlined in the FRS Plan's investment policy

Arit hmet ic

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Note 18 Retirement Plan - Continued FRS Pension Plan 1) Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At September 30, 2018, the County reported a liability of $224,166 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2018 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of July 1, 2018. The County’s proportion of the net pension liability was actuarially determined, based on a projection of the County’s long-term share of contributions to the pension plan relative to the projected contributions of all participating governmental units. At June 30, 2018, the County’s proportion was 0.744229226%, an increase of 0.008682841% from its June 30, 2017 proportion of 0.735546385%. For the year ended September 30, 2018, the County recognized pension expense of $39,598. At September 30, 2018, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following:

Differences between expected and actual experience $ 18,990 $ 689 Changes of assumptions 73,246 - Net difference between projected and actual earnings on pension plan investments - 17,320 Changes in proportion and differences between County contributions and proportionate share of contributions 11,917 6,804 County contributions subsequent to the measurement date 5,598 - Total $ 109,751 $ 24,813

Deferred Inflowsof Resources

Deferred Out flowsof Resources

$5,598 reported as deferred outflows of resources related to pensions resulting from the County’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended September 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year ended September 30:

2019 $ 13,778 2020 14,401 2021 14,178 2022 13,068 2023 17,037

Thereafter 6,878 $ 79,340

2) Other Key Actuarial Assumptions for the FRS Pension Plan The actuarial assumptions that determined the total pension liability as of June 30, 2018 were based on the results of an actuarial experience study for the period July 1, 2008 through June 30, 2013. The valuation date is July 1, 2018, and the measurement date is June 30, 2018. Key assumptions include an inflation rate of 2.60%, salary increases including inflation of 3.25%, and an investment rate of return of 7.00%, net of pension plan investment expense, including inflation. The mortality rates are based on the Generational RP-2000 with Projection Scale BB tables, and the actuarial cost method used is the Individual Entry Age method. 3) Discount Rate The pension plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is equal to the long-term expected rate of return. The discount rate used to measure the total pension liability was 7.00%. a decrease of 0.10% from the prior measurement date.

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Note 18 Retirement Plan – Continued FRS Pension Plan 4) Sensitivity Analysis The following presents Manatee County’s share of the net pension liability of the FRS Pension Plan. This is calculated using the discount rate of 7.00%, as well as what the County’s net pension liability would be if it were calculated using a discount rate that is one percentage point lower (6.00%) or one percentage point higher (8.00%) than the current rate.

Current1% Discount 1%

Decrease Rat e Increase6.00% 7.00% 8.00%

County's proportionate shareof the net pension liability $ 409,112 $ 224,166 $ 70,557

Retiree Health Insurance Subsidy 1) Pension Liabilities, Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At September 30, 2018, the County reported a liability of $60,421 for its proportionate share of the net pension liability. The net pension liability was measured as of June 30, 2018 and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as July 1, 2018. The County’s proportion of the net pension liability was actuarially determined, based on a projection of the County’s long-term share of contributions to the pension plan relative to the projected contributions of all participating governmental units. At June 30, 2018, the County’s proportion was 0.570870196%, an increase of 0.017481750% over its June 30, 2017 proportion of 0.553388446%. For the year ended September 30, 2018, the County recognized pension expense of $5,326. At September 30, 2018, the County reported deferred outflows of resources and deferred inflows of resources related to pensions from the following:

Differences between expected and actual experience $ 925 $ 103 Changes of assumptions 6,720 6,388 Net difference between projected and actual earnings on HIS pension plan investments 36 - Changes in proportion and differences between County contributions and proportionate share of contributions 5,879 2,302 County contributions subsequent to the measurement date 792 - Total $ 14,352 $ 8,793

of ResourcesDeferred InflowsDeferred Outflows

of Resources

$792 reported as deferred outflows of resources related to pensions resulting from the County’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended September 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year ended September 30:

2019 $ 1,026 2020 1,026 2021 987 2022 769 2023 450

Thereafter 509 $ 4,767

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Note 18 Retirement Plan – Continued Retiree Health Insurance Subsidy – Continued 2) Other Key Actuarial Assumptions The actuarial assumptions that determined the total pension liability for the HIS program as of June 30, 2018 were based on certain results of the most recent experience study for the FRS plan, which was for the period July 1, 2008 through June 30, 2013. Because the HIS program is funded on a pay-as-you-go basis, no separate experience study has been completed by FRS for that plan. The HIS program valuation is updated biannually, and the most recent valuation date is July 1, 2018. This valuation is updated by FRS for GASB reporting in the year that a valuation is not performed. Key assumptions include an inflation rate of 2.60%, salary increases including inflation of 3.25%, and a discount rate of 3.87% (municipal bond rate). The asset valuation method is fair market value. The mortality rates are based on the Generational RP-2000 with Projection Scale BB tables, and the actuarial cost method used is the Individual Entry Age method. 3) Discount Rate In general, the discount rate for calculating the total pension liability is equal to the single rate, equivalent to discounting at the long-term expected rate of return for benefit payments prior to the projected depletion date. The HIS benefit is essentially funded on a pay-as-you-go basis, the depletion date is considered to be immediate, and the single equivalent discount rate is equal to a municipal bond rate selected by the FRS plan sponsor. The FRS plan sponsor adopted the Bond Buyer General Obligation 20-Bond Municipal Bond Index as the applicable municipal bond index. The related discount rate used to measure the total pension liability was 3.87%, an increase of 0.29% from the prior measurement date. 4) Sensitivity Analysis The following presents the County’s share of the net pension liability of the HIS, calculated using the discount rate of 3.87%, as well as what the County’s share of the HIS net pension liability would be if it were calculated using a discount rate that is one percentage point lower (2.87%) or one percentage point higher (4.87%) than the current rate.

Current

Discount Rate3.87%

County's proportionate shareof the net pension liability $ 68,817 $ 60,421 $ 53,424

1% Decrease2.87%

1% Increase4.87%

Summary of Retirement Plans Net pension liabilities are liquidated in the specific fund to which the liability is directly associated. This fiscal year the County’s aggregate amount of net pension liability is $284,587; deferred outflows of resources for pension is $124,103; deferred inflows of resources for pensions is $33,606; and pension expense is $44,924. Note 19 Post Employment Benefits Other Than Pension General Information about the OPEB Plan 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 does not issue a publicly available financial report. Benefits provided – 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 and their eligible dependents. 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 premium assistance contributions. County premium contributions are made to the Plan for eligible employees retiring after ten years of service. An additional contribution is provided to eligible 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. 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. 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.

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Note 19 Post Employment Benefits Other Than Pension - Continued General Information about the OPEB Plan - Continued The 2018 premium contributions for medical coverage and retiree counts (expressed in whole numbers) at September 30, 2018 were:

County Provided

Class of Employees Contribution Range

Retirees with more than 10 years of service 10% - 20% 222

Spouses, survivors or children of retirees with more than 10 years of service 0% - 11% 18

Retirees with less than 10 years of service 0% 12

Retirees in Senior Care Plans with private insurers 0% - 60% 507

Spouses or survivors of retirees in Senior Care Plans with private insurers 0% 46

805

RetireeCount

The County purchased individual stop-loss coverage for its health insurance plan in 2018 for $603. This stop-loss coverage provides for the County to be reimbursed for benefit claims in excess of $500 per claim. No reimbursements were received in fiscal year 2018 under this coverage. The County also facilitates retiree participation in certain plans other than its own OPEB plan. In fiscal year 2018, premiums for these other medical and life insurance plans were $1,293. These additional plans transfer the obligation for benefit payments from the County to the insurance carrier. Payments received from the federal government under Medicare Part D are recognized as revenue, rather than as a reduction of the Other Post Employment Benefits (OPEB) cost. Although the County did not transfer any amounts into the Health Self Insurance internal service fund in fiscal year 2018 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; therefore, no assets have been accumulated in a trust that meets the criteria in paragraph 4 of Statement 75 of the Governmental Accounting Standards Board. For the year ended September 30, 2018, the County made $1,967 in benefit payments, net of retiree contributions of $3,674. Employees covered by benefit terms – Eligibility for participation in the Plan is limited to full time employees of the County and the County Constitutional Officers who are active participants in the Plan at the time of retirement, who retire and are vested with the Florida Retirement System (FRS) at age 62 or older, 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, 2018 there were no terminated employees entitled to benefits but not yet receiving them. The membership (expressed in whole numbers) of the County’s Plan consisted of:

Employees Medical Dental

Active Employees 3,046 2,412Retirees with more than 10 years of service 254 435 Total Membership 3,300 2,847

Total OPEB Liability The County’s total OPEB liability was measured as of September 30, 2018 as was determined by an actuarial valuation as of June 1, 2018 using the entry age normal cost method. The liabilities are rolled forward from the actuarial valuation date to the measurement date. Liabilities are adjusted for passage of time by adding normal cost minus benefit payments all adjusted with interest.

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Note 19 Post Employment Benefits Other Than Pension – Continued Total OPEB Liability - Continued Actuarial assumptions and other inputs – The total OPEB liability in the September 30, 2018 actuarial valuation was determined using actuarial assumptions and other inputs, applied to all periods included in the measurement. The discount rate used of 3.83% was based on the 20-year general obligation bond index as of October 1, 2018. The inflation rate and payroll growth assumptions used are 2.20% and 3%, respectively. Mortality rates were based on the Generational RP-2000 with Projection Scale BB. Actual coverage, cost sharing and benefits at the time of valuation were used with coverage assumed to continue into retirement. Claims data for the period June 1, 2016 to May 31, 2018 was reported by the County. Medical claims were projected to September 30, 2018 assuming 8 percent annual increases and prescription drugs assuming 6 percent annual increases. Healthcare cost trend assumptions are based on the Society of Actuaries (SOA) Long-Run Medical Cost Trend Model. There is no trend applied to the County explicit subsidy. The following baseline assumptions were used as input variables into the medical cost trend model:

Rate of Growth in Real Income/GDP per capita 1.60%Income Multiplier for Health Spending 1.30Health Share of GDP Resistance Point 25.00%Year for Limiting Cost Growth to GDP Growth 2075

The SOA Long-Run Medical Cost Trend Model and its baseline projection are based on an econometric analysis of historical US medical expenditures and the judgments of experts in the field. The long-run baseline projection and input variables have been developed under the guidance of an SOA Project Oversight Group. There have been no changes in the Plan since the prior valuation. Changes to the assumptions and methods used since the last valuation include the update of mortality decrements to match the assumptions used by the Florida Retirement System for the July 1, 2017 pension valuation and the adjustment to the most recent trend table released by the SOC which includes adjustments for the projected effects of the Cadillac tax provision of the Affordable Care Act. Changes in the Total OPEB Liability

Total OPEBLiability

Balance at 10/01/2017 $ 39,363 Changes for the year: Service cost 1,254 Interest 1,344 Differences between expected and actual (2,428) Changes of assumptions or other inputs (1,772) Benefit payments (1,967) Net changes (3,569)Balance at 09/30/2018 $ 35,794

Changes of assumptions or other inputs reflect a change in the discount rate from 3.50 percent in 2017 to 3.83 percent in 2018. Sensitivity of the total OPEB liability to changes in the discount rate – The following presents the total OPEB liability of the County using the discount rate of (3.83%), as well as what the County’s total OPEB liability would be if it were calculated using a discount rate that is one percentage point lower (2.83%) or one percentage point higher (4.83%) than the current discount rate.

Current 1% Discount 1%

Decrease Rate Increase2.83% 3.83% 4.83%

Total OPEB liability $39,619 $35,794 $32,444

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Note 19 Post Employment Benefits Other Than Pension – Continued Changes in the Total OPEB Liability Sensitivity of the total OPEB liability to changes in the medical cost trend rates – The following presents the total OPEB liability of the County using the medical cost trend rate of (3.84%), as well as what the County’s total OPEB liability would be if it were calculated using a healthcare cost trend rate that is one percentage point lower (2.84%) or one percentage point higher (4.84%) than the current discount rate.

CurrentMedical

1% Cost Trend 1%Decrease Rate Increase

2.84% 3.84% 4.84%

Total OPEB liability $31,446 $35,794 $41,111 OPEB Expense, Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB

For the year ended September 30, 2018, the County recognized OPEB expense of $2,178. At September 30, 2018, the County reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Differences between expected and actual experience $ - $ 2,185 Changes of assumptions or other inputs - 1,595 Total $ - $ 3,780

Deferred InflowsOf Resources

Deferred OutflowsOf Resources

Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be

recognized in OPEB expense as follows.

Year Ending September 30: of Resources of Resources

2019 $ - $ 420 $ 420 2020 - 420 420 2021 - 420 420 2022 - 420 420 2023 - 420 420

Thereafter - 1,680 1,680 $ - $ 3,780 $ 3,780

TotalDeferred Outflows Deferred Inflows

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). Note 21 Commitments A. Grant Programs

The County participates in a number of federally assisted grant programs, principally from the Department of Health and Human Services, Department of Transportation, 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.

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Note 21 Commitments - Continued

B. Contract Commitments Manatee County has open construction and other contracts totaling approximately $59,189 for the following funds:

Government al Act ivit ies: Impact Fee Capital Projects Fund $ 1,578 Nonmajor governmental activities 18,813 Total governmental activities 20,391

Business-t ype Act ivit ies: Water and sewer 35,090 Solid waste 900 Nonmajor enterprise funds 2,808 Total business-type activities 38,798 Total contract commitments $ 59,189

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 and other contracts, as they are included as contract commitments in Part B in previous section. Manatee County has the following significant encumbrances as of September 30, 2018:

EncumbranceGovernment al Act ivit ies: General Fund $ 575 Highway 1,658 Impact Fee Capital Projects Fund 857 Nonmajor governmental activities 2,229 Total governmental activities $ 5,319

D. Loss Contingency On August 5, 2010, Manatee County entered into a project participation agreement with the Department of the Army Corps of Engineers (ACOE) for construction of the Cedar Hammock (Wares Creek) flood damage reduction project. Upon final closeout of this project by the ACOE, there is a probable liability of $0 to $3.7 million related to the valuation of the land acquisition used by the County for a portion of its local share of the project costs. At September 30, 2018, no amount was accrued as it could not be reasonably estimated. Note 22 Tax Abatements Manatee County provides tax abatements through its Economic Development Ad Valorem Tax Exemption (EDAVTE) program. This program encourages increased employment and fosters economic growth, under Section 196.1995 of the Florida Statutes and Manatee County Ordinance 14-031. New or existing businesses may be granted an abatement of up to 100 percent of the ad valorem tax on the additional assessed value of qualifying improvements to real property and tangible personal property, for a period of up to ten years. This abatement does not apply to taxes levied by a municipality, school district, any special taxing district or any other governmental entity, or to taxes levied by the County for the payment of bonds or taxes authorized by a vote of the electors pursuant to Section 9 and Section 12, Article VII of the State Constitution. As of September 30, 2018, the County had one EDAVTE program agreement, which was entered into during fiscal year 2017 for the tax years 2018 through 2025. During the agreement period, the abatement amount will vary from 100% of the tax on increased assessments during tax year 2018, to 10% in final tax year of 2025, based on meeting specific job growth targets and facility expansions. Although the abatements are not granted until after the improvements have been made, should the participant not meet the specific job growth targets during the agreement period, the exemption may be revoked and the abated taxes recovered. No taxes have been abated, as of September 30, 2018.

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Note 22 Tax Abatements - Continued The State of Florida offers the Florida Qualified Target Industry (QTI) program. The QTI program offers tax refunds as an incentive for companies to create high wage jobs in certain industries, pursuant to Section 288.106 of the Florida Statutes. Approved participating businesses may request a refund of corporate income, sales, ad valorem, intangible personal property, insurance premium and certain other taxes. Manatee County participates by providing a 20% local match of the actual refund provided to the Florida Department of Economic Opportunity, when the business is located within its boundaries. As of September 30, 2018 the County has seven active QTI agreements. Local matches of the taxes refunded totaling $93 were made during the fiscal year. Note 23 Restatement of Prior Year Balances As of October 1, 2017, beginning net position of each of the following governmental-type and business-type activities were restated due to the implementation of GASB 75:

Net position - October 1, 2017 $ 1,107,867 Restatement of net position due to the implementation of GASB 75 37,778 Net position - October 1, 2017 restated $ 1,145,645

Governmental-type

Activities

Water Port Solid Civicand Sewer Authority Waste Transit Stormwater Center Total

Net position - October 1, 2017 $ 815,750 $ 102,016 $ 60,474 $ 32,406 $ 34,645 $ 6,154 $ 1,051,445

Restatement of net position due to the implementation of GASB 75 4,554 671 406 1,365 377 158 7,531 Net position - October 1, 2017 restated $ 820,304 $ 102,687 $ 60,880 $ 33,771 $ 35,022 $ 6,312 $ 1,058,976

Health AutomatedCentral Motor Self Self SystemsStores Pool Communications Insurance Insurance Maintenance Total

Net position - October 1, 2017 $ 4,702 $ 28,001 $ 2,354 $ 4,213 $ 34,438 $ 1,450 $ 75,158

Restatement of net position due to the implementation of GASB 75 (19) (259) (175) (3) (36) (12) (504) Net position - October 1, 2017 restated $ 4,683 $ 27,742 $ 2,179 $ 4,210 $ 34,402 $ 1,438 $ 74,654


Internal Service Funds

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REQUIRED SUPPLEMENTARY INFORMATION

Total OPEB Liability2018 (1)

Service cost $ 1,254 Interest 1,344 Difference between expected and actual experience (2,428) Changes of assumptions or other inputs (1,772) Benefit payments (1,967) Net change in total OPEB liability $ (3,569) Total OPEB liability - beginning 39,363 Total OPEB liability - ending $ 35,794

Covered-employee payroll $ 171,723

Total OPEB liability as a percentage of covered-employee payroll 20.84%

(1) Initial year of plan disclosure due to the implementation of GASB 75. No prior data available.

Notes to Schedule:

each period. The following are the discount rates used in each period:

2018 3.83%2017 3.50%

Trust. The defined benefit OPEB plan provided is not administered through a trust that meets the criteria of GASB Statement 75, paragraph 4.

Changes of assumptions . Changes of assumptions and other inputs reflect the effects of changes in the discount rate

Benefit changes. There have been no changes to the benefit terms.

Manatee County, FloridaRequired Supplementary Information for the Current Year

and Other Related Ratios(Amounts expressed in thousands)

Schedule of Changes in Total Other Post Employment Benefits (OPEB) Other Than Pension Liability

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FRS Pension Plan2018 2017 2016 2015 2014 (1)

County's proportion of the net pension liability (asset) 0.744229226% 0.735546385% 0.751912753% 0.683815007% 0.655503725%County's proportionate share of the net pension liability (asset) $ 224,166 $ 217,569 $ 189,859 $ 88,323 $ 39,995 County's covered payroll (2) $ 157,115 $ 148,339 $ 144,533 $ 137,108 $ 133,476

County's proportionate share of the net pension liability (asset) as a percentage of its covered payroll 142.68% 146.67% 131.36% 64.42% 29.96%

Plan fiduciary net position as a percentage of the total pension liability 84.26% 83.89% 84.88% 92.00% 96.09%

HIS Pension Plan2018 2017 2016 2015 2014

June 30,

June 30,

Manatee County, FloridaRequired Supplementary Information for the Current and Preceding Four Years

Schedule of County Proportionate Share of the Net Pension Liabilityfor the FRS and HIS Pension Plans(Amounts expressed in thousands)

2018 2017 2016 2015 2014

County's proportion of the net pension 0.570870196% 0.553388446% 0.556744125% 0.532082284% 0.511222506% liability (asset)County's proportionate share of the net pension liability (asset) $ 60,421 $ 59,171 $ 64,886 $ 54,264 $ 47,801 County's covered payroll (2) $ 178,659 $ 168,826 $ 164,632 $ 154,812 $ 146,922

County's proportionate share of the net pension liability (asset) as a percentage of its covered payroll 33.82% 35.05% 39.41% 35.05% 32.53%

Plan fiduciary net position as a percentage of the total pension liability 2.15% 1.64% 0.97% 0.50% 0.99%

(1) The amounts determined for each fiscal year were determined as of June 30. Information is not available for years prior to 2014. (2) Covered payroll for the FRS pension plan and the HIS pension plan may differ for Investment plan participant employees.

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FRS Pension Plan Fiscal Year Fiscal Year Fiscal Year Fiscal Year2018 2017 2016 2015 (1)

Contractually required contribution $ 21,567 $ 19,425 $ 18,749 $ 16,993

Contributions in relation to the contractually required contribution (21,567) (19,425) (18,749) (16,993) Contribution deficiency (excess) $ - $ - $ - $ -

County's covered payroll (2) $ 157,586 $ 150,977 $ 146,548 $ 138,011

Contributions as a percentage of covered payroll 13.69% 12.87% 12.79% 12.31%

HIS Pension Plan Fiscal Year Fiscal Year Fiscal Year Fiscal Year2018 2017 2016 2015 (1)

Contractually required contribution $ 3,119 $ 2,977 $ 2,894 $ 2,221

Contributions in relation to the contractually required contribution (3,119) (2,977) (2,894) (2,221) Contribution deficiency (excess) $ - $ - $ - $ -

County's covered payroll (2) $ 179,659 $ 171,600 $ 167,191 $ 156,697

Contributions as a percentage of covered payroll 1.74% 1.73% 1.73% 1.42%

(2) Covered payroll for the FRS pension plan and the HIS pension plan may differ for Investment plan participant employees.

(1) Information is not available for years prior to 2015.

Manatee County, FloridaRequired Supplementary Information for the Current and Preceding Three Years

Schedule of County Contributions to the FRS and HIS Pension Plans(Amounts expressed in thousands)

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Combined & Individual Fund Statements & Schedules

Marjorie Kinnan, 1911-2006Over her career, Marjorie Kinnan worked a variety of jobs but is most notable for her service to the Manatee County School District as a guidance counselor. Marjorie became one of the first white educators to work locally in a black school and helped found the Manatee County chapter of the American Association of University Women and the Manatee County Mental Health Association. She was well known for her passion for helping students and her enduring legacy through her children, who also became instrumental in the Manatee County education system.


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, which 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

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

Port TIF

To account for the revenues and expenditures of the Port Tax Increment Financing District

Building and Permitting To account for the revenues and expenditures of building and permitting

Local Government Infrastructure Sales Surtax To account for the collection and use of the proceeds from the infrastructure sales surtax

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 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

Local Government Infrastructure Sales Surtax To account for capital projects funded by the infrastructure sales surtax

Tourist Children's Special Unincorporated Metropolitan AssessmentLibrary Development Services Tax Revenue Services Enhancements Revenue

Assets

Cash and cash equivalents $ 3,345 $ 21,311 $ 2,128 $ 8,713 $ 10,935 $ 1,014 $ - $ 3,060 Accounts receivable (net) 1 21 - 1 - - - - Interest receivable 7 33 7 8 22 2 - 25 Due from other funds - - - - - - 5 - Assessments receivable - - - - - - - 56 Due from other governmental units - - - 2 - 414 703 - Advance to other funds - - - - 6,000 - - - Prepaid items 13 27 20 44 - - 1 - Deposits - - - - - - - - Total assets $ 3,366 $ 21,392 $ 2,155 $ 8,768 $ 16,957 $ 1,430 $ 709 $ 3,141

Liabilities and Fund Balances

Liabilities: Accounts payable $ 81 $ 1,170 $ 1,388 $ 346 $ 414 $ 5 $ 35 $ 10 Wages and benefits payable 127 42 14 237 214 31 27 - Due to other funds 6 - 9 - 11 - 614 - Due to other governmental units - - - 1,158 21 - - - Contracts and retainages payable - - - - - - - - Performance bonds payable - - - - 10 - - - Unearned revenue - - - - - - 3 - Advance from other funds - 5,282 - 1,234 - - - - Total liabilities 214 6,494 1,411 2,975 670 36 679 10


Unavailable revenue - - - 125 - - - 56

Fund balances: Non-spendable 13 27 20 44 - - 1 - Restricted 495 13,054 - 6,191 - 1,394 - - Committed 1,404 257 - - 16,287 - - 3,075 Assigned 1,240 1,560 724 - - - 29 - Unassigned - - - (567) - - - - Total fund balances 3,152 14,898 744 5,668 16,287 1,394 30 3,075 Total liabilities, deferred inflows of resources and fund balances $ 3,366 $ 21,392 $ 2,155 $ 8,768 $ 16,957 $ 1,430 $ 709 $ 3,141

(Continued)

Miscellaneous

Manatee County, FloridaCombining Balance Sheet

Nonmajor Governmental FundsSeptember 30, 2018


Special Revenue Funds

Planning911

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Local GovernmentImpact Federal and Law Affordable Community Port Building and InfrastructureFees State Grants Enforcement Housing Redevelopment TIF Permitting Sales Surtax Total

Assets

Cash and cash equivalents $ 57,830 $ 990 $ 2,572 $ 2,720 $ 6,034 $ 278 $ 15,926 $ - $ 136,856 Accounts receivable (net) - - 34 4 - - 1 - 62 Interest receivable 91 2 2 - 10 - 26 - 235 Due from other funds - 17 - - - - - - 22 Assessments receivable - - - - - - - - 56 Due from other governmental units - 1,480 - - - - - 4,209 6,808

Advance to other funds - - - - - - - - 6,000

Prepaid items - - - - - - 1 - 106 Deposits - - - - - - - - - Total assets $ 57,921 $ 2,489 $ 2,608 $ 2,724 $ 6,044 $ 278 $ 15,954 $ 4,209 $ 150,145


Liabilities: Accounts payable $ 91 $ 418 $ - $ 171 $ 3 $ - $ 207 $ - $ 4,339 Wages and benefits payable 5 23 - 4 17 - 194 - 935 Due to other funds - 571 - - - - - - 1,211 Due to other governmental units - - - - - - 165 29 1,373 Contracts and retainages payable - 123 - - - - - - 123 Performance bonds payable - - - - - - - - 10 Unearned revenue - 429 - 1,065 - - - - 1,497 Advance from other funds - - - - - - - - 6,516 Total liabilities 96 1,564 - 1,240 20 - 566 29 16,004


Unavailable revenue - - - - - - - - 181

Fund balances: Non-spendable - - - - - - 1 - 106 Restricted 54,800 1 2,541 1,484 6,024 278 14,627 4,180 105,069 Committed - - - - - - - - 21,023 Assigned 3,025 924 67 - - - 760 - 8,329 Unassigned - - - - - - - - (567) Total fund balances 57,825 925 2,608 1,484 6,024 278 15,388 4,180 133,960 Total liabilities, deferred inflows of resources and fund balances $ 57,921 $ 2,489 $ 2,608 $ 2,724 $ 6,044 $ 278 $ 15,954 $ 4,209 $ 150,145


Nonmajor Governmental Funds - ContinuedSeptember 30, 2018



(Continued)

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RevenueRevenue Refunding and Revenue

Improvement Improvement Improvement

Bonds Bonds Note TotalAssets

Cash and cash equivalents $ 31 $ 70 $ - $ 101 Accounts receivable (net) - - - - Interest receivable 6 13 1 20 Due from other funds - - - - Assessments receivable - - - - Due from other governmental units - - - - Advance to other funds - - - - Prepaid items - - - - Deposits - - - - Total assets $ 37 $ 83 $ 1 $ 121


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 - - - -


Unavailable revenue - - - -

Fund balances: Non-spendable - - - - Restricted 37 83 1 121 Committed - - - - Assigned - - - - Unassigned - - - - Total fund balances 37 83 1 121 Total liabilities, deferred inflows of resources and fund balances $ 37 $ 83 $ 1 $ 121

(Continued)




Debt Service Funds

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TotalCapital Local Government Nonmajor

Parks and Improvements Community Infrastructure GovernmentalRecreation Transportation Gas Tax Fund Redevelopment Sales Surtax Total Funds

Assets

Cash and cash equivalents $ 4,955 $ 19,024 $ 23,722 $ 16,910 $ 435 $ 32,693 $ 97,739 $ 234,696 Accounts receivable (net) - - - - - - - 62 Interest receivable 8 27 32 29 1 44 141 396 Due from other funds - - - - - - - 22 Assessments receivable - - - - - - - 56 Due from other governmental units 356 314 - - - - 670 7,478 Advance to other funds - - - - - - - 6,000 Prepaid items - - - - - - - 106 Deposits 333 - 3 - - - 336 336 Total assets $ 5,652 $ 19,365 $ 23,757 $ 16,939 $ 436 $ 32,737 $ 98,886 $ 249,152


Capital Project Funds




Liabilities: Accounts payable $ 67 $ 280 $ 9 $ 2,393 $ 3 $ 330 $ 3,082 $ 7,421 Wages and benefits payable - - - - - - - 935 Due to other funds - - - - - - - 1,211 Due to other governmental units - - - - - - - 1,373 Contracts and retainages payable - 1,221 1,078 784 134 34 3,251 3,374 Performance bonds payable - - - - - - - 10 Unearned revenue - - - - - - - 1,497 Advance from other funds 2,000 - - 4,790 - - 6,790 13,306 Total liabilities 2,067 1,501 1,087 7,967 137 364 13,123 29,127


Unavailable revenue - - - - - - - 181

Fund balances: Non-spendable 333 - 3 - - - 336 442 Restricted 4,345 15,672 22,667 8,422 299 32,373 83,778 188,968 Committed 142 2,192 - - - - 2,334 23,357 Assigned - - - 550 - - 550 8,879 Unassigned (1,235) - - - - - (1,235) (1,802) Total fund balances 3,585 17,864 22,670 8,972 299 32,373 85,763 219,844 Total liabilities, deferred inflows of resources and fund balances $ 5,652 $ 19,365 $ 23,757 $ 16,939 $ 436 $ 32,737 $ 98,886 $ 249,152

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MiscellaneousTourist Children's Special Unincorporated 911 Metropolitan Assessment

Library Development Services Tax Revenue Services Enhancements Planning Revenue

Revenues: Taxes $ 7,968 $ 14,725 $ 10,730 $ - $ 14,212 $ 1,679 $ - $ 103 Licenses and permits - - - - 4,109 - - - Intergovernmental 201 27 - 1,965 - - 1,289 - Charges for services 25 - - 2,920 1,458 - - 69 Fines and forfeitures 58 - - 4,550 1,142 - - - Interest income 75 283 85 104 299 15 - 44 Assessments - - - - - - - 23 Contributions 170 117 - - - - - - Miscellaneous - 1 10 35 55 2 - - Total revenues 8,497 15,153 10,825 9,574 21,275 1,696 1,289 239

Expenditures: Current: General government - - - 7,136 2,909 - - - Public safety - - - - 4,575 1,801 - - Physical environment - 1,139 - 1,356 407 - - 69 Transportation - - - - 1,310 - 1,310 79 Economic environment - 7,985 - - 1,923 - - - Human services - - 12,822 - - - - - Culture and recreation 7,530 - - 155 - - - - Intergovernmental - - - 1,202 - - - - Debt service - 66 - 18 - - - - Total expenditures 7,530 9,190 12,822 9,867 11,124 1,801 1,310 148

Excess (deficiency) of revenues over expenditures 967 5,963 (1,997) (293) 10,151 (105) (21) 91

Other financing sources (uses): Loan and note proceeds - - - - - - - - Transfers from other funds - - 838 285 - 18 19 1 Transfers to other funds - (5,397) - (303) (9,084) - - (27) Total other financing sources (uses) - (5,397) 838 (18) (9,084) 18 19 (26)

Net change in fund balances 967 566 (1,159) (311) 1,067 (87) (2) 65 Fund balances, October 1 2,185 14,332 1,903 5,979 15,220 1,481 32 3,010 Fund balances, September 30 $ 3,152 $ 14,898 $ 744 $ 5,668 $ 16,287 $ 1,394 $ 30 $ 3,075

(Continued)



Combining Statement of Revenues, Expendituresand Changes in Fund BalancesNonmajor Governmental Funds


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Local GovernmentImpact Federal and Law Affordable Community Port Building and InfrastructureFees State Grants Enforcement Housing Redevelopment TIF Permitting Sales Surtax Total

Revenues: Taxes $ - $ - $ - $ - $ - $ - $ - $ 25,225 $ 74,642 Licenses and permits 27,895 - - - - - 7,207 - 39,211 Intergovernmental - 10,884 - 1,969 - - - - 16,335 Charges for services 504 57 1,028 - - - 38 - 6,099 Fines and forfeitures - - 699 - - - 46 - 6,495 Interest income 778 9 13 38 83 4 245 11 2,086 Assessments - - - - - - - - 23 Contributions - - - 1 - - - - 288 Miscellaneous 165 72 - 566 - - 534 - 1,440 Total revenues 29,342 11,022 1,740 2,574 83 4 8,070 25,236 146,619

Expenditures: Current: General government 774 134 - - - - - - 10,953 Public safety - 1,197 613 - - - 8,592 - 16,778 Physical environment - 421 - - - - - - 3,392 Transportation - 789 - - - - - - 3,488 Economic environment 150 1,235 - 1,863 595 - - - 13,751 Human services - 2,179 - - - - - - 15,001 Culture and recreation - - - - - - - - 7,685 Intergovernmental - - - - - - - - 1,202 Debt service - - - - - - - - 84 Total expenditures 924 5,955 613 1,863 595 - 8,592 - 72,334

Excess (deficiency) of revenues over expenditures 28,418 5,067 1,127 711 (512) 4 (522) 25,236 74,285

Other financing sources (uses): Loan and note proceeds - - - - - - - - - Transfers from other funds 400 220 - - 3,357 143 132 - 5,413 Transfers to other funds (15,727) (5,355) (103) - - - (351) (24,942) (61,289) Total other financing sources (uses) (15,327) (5,135) (103) - 3,357 143 (219) (24,942) (55,876)

.Net change in fund balances 13,091 (68) 1,024 711 2,845 147 (741) 294 18,409 Fund balances, October 1 44,734 993 1,584 773 3,179 131 16,129 3,886 115,551 Fund balances, September 30 $ 57,825 $ 925 $ 2,608 $ 1,484 $ 6,024 $ 278 $ 15,388 $ 4,180 $ 133,960

(Continued)


Manatee County, FloridaCombining Statement of Revenues, Expenditures

and Changes in Fund BalancesNonmajor Governmental Funds - Continued


-72-

RevenueGeneral Revenue Refunding and Revenue

Obligation Improvement ImprovementBonds Bonds Bonds Note Total

Revenues: Taxes $ 75 $ - $ - $ - $ 75 Licenses and permits - - - - - Intergovernmental - - - - - Charges for services - - - - - Fines and forfeitures - - - - - Interest income 9 34 79 1 123 Assessments - - - - - Contributions - - - - - Miscellaneous - - - - - Total revenues 84 34 79 1 198

Expenditures: Current: General government - - - - - Public safety - - - - - Physical environment - - - - - Transportation - - - - - Economic environment - - - - - Human services - - - - - Culture and recreation - - - - - Intergovernmental - - - - Debt service 647 5,505 12,582 19,415 38,149 Total expenditures 647 5,505 12,582 19,415 38,149

Excess (deficiency) of revenues over expenditures (563) (5,471) (12,503) (19,414) (37,951)

Other financing sources (uses): Loan and note proceeds - - - 18,600 18,600 Transfers from other funds 10 5,488 12,539 814 18,851 Transfers to other funds - - - - - Total other financing sources (uses) 10 5,488 12,539 19,414 37,451

Net change in fund balances (553) 17 36 - (500) Fund balances, October 1 553 20 47 1 621 Fund balances, September 30 $ - $ 37 $ 83 $ 1 $ 121

(Continued)

Improvement

Debt Service Funds





-73-

TotalCapital Local Government Nonmajor

Parks and Improvements Community Infrastructure GovernmentalRecreation Transportation Fund Redevelopment Sales Surtax Total Funds

Revenues: Taxes $ - $ - $ - $ - $ - $ - $ - $ 74,717 Licenses and permits - - - - - - - 39,211 Intergovernmental 1,432 544 - - - - 1,976 18,311 Charges for services - - - - - - - 6,099 Fines and forfeitures - - - - - - - 6,495 Interest income 70 184 305 307 12 325 1,203 3,412 Assessments - - - - - - - 23 Contributions 1,065 2,000 - 20 - - 3,085 3,373 Miscellaneous - - - - - - - 1,440 Total revenues 2,567 2,728 305 327 12 325 6,264 153,081

Expenditures: Current:




Gas Tax

Capital Project Funds

Current: General government - - - 776 - - 776 11,729 Public safety - - - 8,732 - 900 9,632 26,410 Physical environment 453 - - - - - 453 3,845 Transportation - 17,285 3,931 52 678 200 22,146 25,634 Economic environment - - - 3,305 - - 3,305 17,056 Human services - - - 787 - - 787 15,788 Culture and recreation 5,162 - - - - 751 5,913 13,598 Intergovernmental - - - - - - - 1,202 Debt service 18 50 - 75 - - 143 38,376 Total expenditures 5,633 17,335 3,931 13,727 678 1,851 43,155 153,638

Excess (deficiency) of revenues over expenditures (3,066) (14,607) (3,626) (13,400) (666) (1,526) (36,891) (557)

Other financing sources (uses): Loan and note proceeds - 19,400 - - - - 19,400 38,000 Transfers from other funds 181 2,000 7,700 4,000 25 24,942 38,848 63,112 Transfers to other funds (85) - (3,538) (54) - (4,630) (8,307) (69,596) Total other financing sources (uses) 96 21,400 4,162 3,946 25 20,312 49,941 31,516

Net change in fund balances (2,970) 6,793 536 (9,454) (641) 18,786 13,050 30,959 Fund balances, October 1 6,555 11,071 22,134 18,426 940 13,587 72,713 188,885 Fund balances, September 30 $ 3,585 $ 17,864 $ 22,670 $ 8,972 $ 299 $ 32,373 $ 85,763 $ 219,844

-74-



Revenues: Taxes $ 7,801 $ 7,801 $ 7,968 $ 167 Intergovernmental 223 230 201 (29) Charges for services 19 19 25 6 Fines and forfeitures 71 71 58 (13) Interest income 14 14 75 61 Contributions 149 257 170 (87) Total revenues 8,277 8,392 8,497 105

Expenditures: Current: Culture and recreation 7,989 8,432 7,530 902

Excess (deficiency) of revenues over expenditures 288 (40) 967 1,007

Other financing uses: Reserved for contingencies (252) (115) - 115

Net change in fund balances 36 (155) 967 1,122 Fund balances, October 1 2,185 2,185 2,185 - Fund balances, September 30 $ 2,221 $ 2,030 $ 3,152 $ 1,122


Manatee County, FloridaLibrary Special Revenue Fund

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


-75-



Revenues: Taxes $ 12,973 $ 13,071 $ 14,725 $ 1,654 Intergovernmental 10 37 27 (10) Interest income 44 44 283 239 Contributions 11 116 117 1 Miscellaneous 3 3 1 (2) Total revenues 13,041 13,271 15,153 1,882

Expenditures: Current: Physical environment 1,218 1,399 1,139 260 Economic environment 8,037 11,335 7,985 3,350 Debt service 17 66 66 - Total expenditures 9,272 12,800 9,190 3,610

Excess (deficiency) of revenues over expenditures 3,769 471 5,963 5,492

Other financing sources (uses): Reserved for contingencies (2,076) (2,026) - 2,026 Transfers from other funds - 4,000 - (4,000) Transfers to other funds (1,790) (5,899) (5,397) 502 Total other financing sources (uses) (3,866) (3,925) (5,397) (1,472)

Net change in fund balances (97) (3,454) 566 4,020 Fund balances, October 1 14,332 14,332 14,332 - Fund balances, September 30 $ 14,235 $ 10,878 $ 14,898 $ 4,020


Manatee County, FloridaTourist Development Special Revenue Fund



-76-



Revenues: Taxes $ 10,505 $ 10,730 $ 10,730 $ - Intergovernmental 4 4 - (4) Interest income 16 16 85 69 Miscellaneous - - 10 10 Total revenues 10,525 10,750 10,825 75

Expenditures: Current: Human services 13,254 13,263 12,822 441

Excess (deficiency) of revenues over expenditures (2,729) (2,513) (1,997) 516

Other financing sources (uses): Reserved for contingencies (171) (162) - 162 Transfers from other funds 838 838 838 - Total other financing sources (uses) 667 676 838 162

Net change in fund balances (2,062) (1,837) (1,159) 678 Fund balances, October 1 1,903 1,903 1,903 - Fund balances, September 30 $ (159) $ 66 $ 744 $ 678


Manatee County, FloridaChildren's Services Tax Special Revenue Fund



-77-



Revenues: Intergovernmental $ 1,590 $ 1,590 $ 1,965 $ 375 Charges for services 2,711 2,711 2,920 209 Fines and forfeitures 4,053 4,053 4,550 497 Interest income 40 40 104 64 Miscellaneous 2 2 35 33 Total revenues 8,396 8,396 9,574 1,178

Expenditures: Current: General government Clerk of the Circuit Court (138) (138) 5,973 (6,111) County administration 16 16 13 3 Court administration 844 1,479 1,150 329 Total general government 722 1,357 7,136 (5,779)

Public safety Neighborhood services 5 5 - 5

Physical environment Parks and natural resources 1,124 1,584 1,356 228

Culture and recreation Parks and natural resources 158 228 155 73

Intergovernmental - - 1,202 (1,202)

Debt service - 18 18 -

Total expenditures 2,009 3,192 9,867 (6,675)

Excess (deficiency) of revenues over expenditures 6,387 5,204 (293) (5,497)

Other financing sources (uses): Reserved for contingencies (338) (283) - 283 Transfers from other funds 250 535 285 (250) Transfers to other funds (138) (303) (303) - Total other financing sources (uses) (226) (51) (18) 33

Net change in fund balances 6,161 5,153 (311) (5,464) Fund balances, October 1 5,979 5,979 5,979 - Fund balances, September 30 $ 12,140 $ 11,132 $ 5,668 $ (5,464)



Schedule of Revenues, Expenditures and Changes inMiscellaneous Special Revenue Fund

Fund Balances - Budget and ActualFor the Fiscal Year Ended September 30, 2018

-78-



Revenues: Taxes $ 13,898 $ 13,898 $ 14,212 $ 314 Licenses and permits 3,124 3,430 4,109 679 Intergovernmental 15 15 - (15) Charges for services 974 974 1,458 484 Fines and forfeitures 902 902 1,142 240 Interest income 71 71 299 228 Miscellaneous 47 47 55 8 Total revenues 19,031 19,337 21,275 1,938

Expenditures: Current: General government Building and development service 2,780 3,163 2,842 321 Neighborhood services 166 166 67 99 Total general government 2,946 3,329 2,909 420 Public safety Building and development service 2,670 2,806 2,636 170 Public safety 6 34 33 1 Public works 2,068 2,073 1,906 167 Total public safety 4,744 4,913 4,575 338 Physical environment Building and development service 461 504 407 97 Transportation Public works 1,381 1,514 1,310 204 Economic environment Neighborhood services 947 965 881 84 Redevelopment & economic opportunity 1,495 1,527 1,042 485 Total economic environment 2,442 2,492 1,923 569 Human services Neighborhood services 1 1 - 1 Total expenditures 11,975 12,753 11,124 1,629

Excess (deficiency) of revenues over expenditures 7,056 6,584 10,151 3,567

Other financing uses: Reserve for contingencies (501) (501) - 501 Transfers to other funds (8,827) (15,093) (9,084) 6,009 Total other financing uses (9,328) (15,594) (9,084) 6,510

Net change in fund balances (2,272) (9,010) 1,067 10,077 Fund balances, October 1 15,220 15,220 15,220 - Fund balances, September 30 $ 12,948 $ 6,210 $ 16,287 $ 10,077


Manatee County, FloridaUnincorporated Services Special Revenue Fund


-79-



Revenues: Taxes $ 1,370 $ 1,370 $ 1,679 $ 309 Interest income 1 1 15 14 Miscellaneous - - 2 2 Total revenues 1,371 1,371 1,696 325

Expenditures: Current: Public safety 1,930 2,099 1,801 298

Excess (deficiency) of revenues over expenditures (559) (728) (105) 623

Other financing sources (uses): Reserved for contingencies (57) - - - Transfers from other funds - 18 18 - Total other financing sources (uses) (57) 18 18 -

Net change in fund balances (616) (710) (87) 623 Fund balances, October 1 1,481 1,481 1,481 - Fund balances, September 30 $ 865 $ 771 $ 1,394 $ 623


Manatee County, Florida911 Enhancements Special Revenue Fund



-80-



Revenues: Intergovernmental $ 3,577 $ 3,577 $ 1,289 $ (2,288) Miscellaneous 85 85 - (85) Total revenues 3,662 3,662 1,289 (2,373)

Expenditures: Current: Transportation 1,755 1,755 1,310 445

Excess (deficiency) of revenues over expenditures 1,907 1,907 (21) (1,928)

Other financing sources: Transfers from other funds 64 64 19 (45)

Net change in fund balances 1,971 1,971 (2) (1,973) Fund balances, October 1 32 32 32 - Fund balances, September 30 $ 2,003 $ 2,003 $ 30 $ (1,973)


Manatee County, FloridaMetropolitan Planning Special Revenue Fund



-81-



Revenues: Taxes $ 103 $ 103 $ 103 $ - Charges for services 68 68 69 1 Interest income 11 11 44 33 Assessments 109 109 23 (86) Total revenues 291 291 239 (52)

Expenditures: Current: Physical environment 158 158 69 89 Transportation 91 92 79 13 Total expenditures 249 250 148 102

Excess (deficiency) of revenues over expenditures 42 41 91 50

Other financing sources (uses): Transfers from other funds 1 1 1 - Transfers to other funds (27) (27) (27) - Total other financing sources (uses) (26) (26) (26) -

Net change in fund balances 16 15 65 50 Fund balances, October 1 3,010 3,010 3,010 - Fund balances, September 30 $ 3,026 $ 3,025 $ 3,075 $ 50


Manatee County, FloridaAssessment Revenue Special Revenue Fund



-82-



Revenues: Licenses and permits $ 14,782 $ 14,782 $ 27,895 $ 13,113 Charges for services 181 398 504 106 Interest income 124 124 778 654 Miscellaneous - 165 165 - Total revenues 15,087 15,469 29,342 13,873

Expenditures: Current: General government 598 815 774 41 Economic environment 568 733 150 583 Total expenditures 1,166 1,548 924 624

Excess (deficiency) of revenues over expenditures 13,921 13,921 28,418 14,497

Other financing sources (uses): Reserved for contingencies (509) (14) - 14 Transfers from other funds 400 400 400 - Transfers to other funds (10,920) (18,545) (15,727) 2,818 Total other financing sources (uses) (11,029) (18,159) (15,327) 2,832

Net change in fund balances 2,892 (4,238) 13,091 17,329 Fund balances, October 1 44,734 44,734 44,734 - Fund balances, September 30 $ 47,626 $ 40,496 $ 57,825 $ 17,329


Manatee County, FloridaImpact Fees Special Revenue Fund



-83-



Revenues: Intergovernmental $ 7,794 $ 12,331 $ 10,884 $ (1,447) Charges for services - 55 57 2 Interest income 1 2 9 7 Miscellaneous 8 80 72 (8) Total revenues 7,803 12,468 11,022 (1,446) Expenditures: Current: General government Neighborhood services 24 224 134 90 Public safety Neighborhood services 15 515 314 201 Parks and natural resources 143 457 237 220 Public safety 254 407 327 80 Redevelopment & economic opportunity 338 328 319 9 Total public safety 750 1,707 1,197 510 Physical environment Neighborhood services - 49 49 - Parks and natural resources 17 89 34 55 Redevelopment & economic opportunity 341 341 338 3 Total physical environment 358 479 421 58 Transportation Neighborhood services - 24 68 (44) Parks and natural resources 145 145 - 145 Redevelopment & economic opportunity 558 170 721 (551) Total transportation 703 339 789 (450) Economic environment Redevelopment & economic opportunity 1,081 2,421 1,235 1,186 Human services Neighborhood services 1,297 2,420 2,089 331 Redevelopment & economic opportunity 6 120 90 30 Total human services 1,303 2,540 2,179 361 Total expenditures 4,219 7,710 5,955 1,755 Excess (deficiency) of revenues over expenditures 3,584 4,758 5,067 309 Other financing sources (uses): Transfers from other funds - 220 220 - Transfers to other funds (3,823) (5,355) (5,355) - Total other financing sources (uses) (3,823) (5,135) (5,135) -

Net change in fund balances (239) (377) (68) 309 Fund balances, October 1 993 993 993 - Fund balances, September 30 $ 754 $ 616 $ 925 $ 309


Manatee County, FloridaFederal and State Grants Special Revenue Fund



-84-



Revenues: Charges for services $ - $ 614 $ 1,028 $ 414 Fines and forfeitures 161 161 699 538 Interest income 2 2 13 11 Total revenues 163 777 1,740 963

Expenditures: Current: Public safety - 613 613 -

Excess (deficiency) of revenues over expenditures 163 164 1,127 963

Other financing uses: Transfers to other funds - (103) (103) -

Net change in fund balances 163 61 1,024 963 Fund balances, October 1 1,584 1,584 1,584 - Fund balances, September 30 $ 1,747 $ 1,645 $ 2,608 $ 963


Manatee County, FloridaLaw Enforcement Special Revenue Fund



-85-



Revenues: Intergovernmental $ 1,735 $ 2,243 $ 1,969 $ (274) Interest income 30 30 38 8 Contributions - 1 1 - Miscellaneous - 566 566 - Total revenues 1,765 2,840 2,574 (266)

Expenditures: Current: Economic environment 2,441 3,517 1,863 1,654

Excess (deficiency) of revenues over expenditures (676) (677) 711 1,388

Fund balances, October 1 773 773 773 - Fund balances, September 30 $ 97 $ 96 $ 1,484 $ 1,388


Manatee County, FloridaAffordable Housing Special Revenue Fund



-86-



Revenues: Interest income $ 8 $ 8 $ 83 $ 75 Contributions 3 3 - (3) Total revenues 11 11 83 72

Expenditures: Current: Economic environment 1,043 1,118 595 523

Excess (deficiency) of revenues over expenditures (1,032) (1,107) (512) 595

Other financing sources (uses): Reserved for contingencies (1,784) (1,750) - 1,750 Transfers from other funds 3,392 3,392 3,357 (35) Total other financing sources (uses) 1,608 1,642 3,357 1,715

Net change in fund balances 576 535 2,845 2,310 Fund balances, October 1 3,179 3,179 3,179 - Fund balances, September 30 $ 3,755 $ 3,714 $ 6,024 $ 2,310


Manatee County, FloridaCommunity Redevelopment Special Revenue Fund



-87-



Revenues: Interest income $ - $ - $ 4 $ 4

Other financing sources: Transfers from other funds 144 144 143 (1)

Net change in fund balances 144 144 147 3 Fund balances, October 1 131 131 131 - Fund balances, September 30 $ 275 $ 275 $ 278 $ 3


Manatee County, FloridaPort TIF Special Revenue Fund



-88-



Revenues: Licenses and permits $ 8,295 $ 8,295 $ 7,207 $ (1,088) Charges for services - - 38 38 Fines and forfeitures 60 60 46 (14) Interest income 49 49 245 196 Miscellaneous 385 385 534 149 Total revenues 8,789 8,789 8,070 (719)

Expenditures: Current: Public safety 8,418 9,352 8,592 760

Excess (deficiency) of revenues over expenditures 371 (563) (522) 41

Other financing sources (uses): Reserved for contingencies (377) - - - Transfers from other funds 131 132 132 - Transfers to other funds - (351) (351) - Total other financing sources (uses) (246) (219) (219) -

Net change in fund balances 125 (782) (741) 41 Fund balances, October 1 16,129 16,129 16,129 - Fund balances, September 30 $ 16,254 $ 15,347 $ 15,388 $ 41


Manatee County, FloridaBuilding and Permitting Special Revenue Fund



-89-



Revenues: Taxes $ 25,137 $ 25,137 $ 25,225 $ 88 Interest income - - 11 11 Total revenues 25,137 25,137 25,236 99

Other financing uses: Transfers to other funds (25,137) (29,023) (24,942) 4,081

Net change in fund balances - (3,886) 294 4,180 Fund balances, October 1 3,886 3,886 3,886 - Fund balances, September 30 $ 3,886 $ - $ 4,180 $ 4,180

Manatee County, FloridaLocal Government Infrastructure Sales Surtax FundSchedule of Revenues, Expenditures and Changes in

Fund Balances - Budget and ActualFor the Fiscal Year Ended September 30, 2018


-90-



Revenues: Taxes $ 72 $ 72 $ 75 $ 3 Interest income 1 1 9 8 Total revenues 73 73 84 11

Expenditures: Debt service expenditures 645 647 647 -

Excess (deficiency) of revenues over expenditures (572) (574) (563) 11

Other financing sources: Transfers from other funds - 13 10 (3)

Net change in fund balances (572) (561) (553) 8 Fund balances, October 1 553 553 553 - Fund balances, September 30 $ (19) $ (8) $ - $ 8

Manatee County, FloridaGeneral Obligation Bonds



-91-



Revenues: Interest income $ 2 $ 2 $ 34 $ 32

Expenditures: Debt service expenditures 5,506 5,506 5,505 1


Other financing sources: Transfers from other funds 5,505 5,505 5,488 (17)



Manatee County, FloridaRevenue Improvement Bonds



-92-



Revenues: Interest income $ 3 $ 3 $ 79 $ 76

Expenditures: Debt service expenditures 12,582 12,582 12,582 -


Other financing sources: Transfers from other funds 12,581 12,581 12,539 (42)



Manatee County, FloridaRevenue Refunding and Improvement Bonds



-93-



Revenues: Interest income $ - $ - $ 1 $ 1

Expenditures: Debt service expenditures 469 19,424 19,415 9

Excess (deficiency) of revenues over expenditures (469) (19,424) (19,414) 10

Other financing sources: Loan and note proceeds - 18,600 18,600 - Transfers from other funds 469 824 814 (10) Total other financing sources 469 19,424 19,414 (10)

Net change in fund balances - - - - Fund balances, October 1 1 1 1 - Fund balances, September 30 $ 1 $ 1 $ 1 $ -


Manatee County, FloridaRevenue Improvement Note



-94-

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

Transit CivicSystem Stormwater Center Total

Assets

Current unrestricted assets:

Cash and cash equivalents $ 877 $ 9,426 $ 3,309 $ 13,612

Accounts receivable (net) 15 - 13 28

Interest receivable 3 14 5 22

Due from other governmental units 3,744 172 - 3,916

Prepaid items 12 10 - 22

Inventory - - 39 39

Deposits - 87 3 90

Total current unrestricted assets 4,651 9,709 3,369 17,729

Noncurrent assets: Land and other nondepreciable assets 2,083 25,385 1,417 28,885 Capital assets, net of accumulated depreciation 33,046 4,302 2,615 39,963 Total noncurrent assets 35,129 29,687 4,032 68,848 Total assets 39,780 39,396 7,401 86,577


Deferred pension outflows 2,695 1,089 226 4,010

Liabilities

Current liabilities: Accounts payable 130 312 75 517 Wages and benefits payable 270 96 28 394

Due to other funds 5 - - 5

Contracts and retainages payable 441 191 12 644 Compensated absences 38 16 6 60 Deposits 9 - 524 533 Total current liabilities 893 615 645 2,153

Noncurrent liabilities: Compensated absences 542 454 68 1,064 OPEB liability 305 230 39 574 Net pension liability 6,034 2,501 479 9,014 Total noncurrent liabilities 6,881 3,185 586 10,652 Total liabilities 7,774 3,800 1,231 12,805


Deferred OPEB inflows 32 24 4 60 Deferred pension inflows 549 246 79 874 Total deferred inflows of resources 581 270 83 934

Net Position

Net investment in capital assets 35,129 29,687 4,032 68,848 Unrestricted (1,009) 6,728 2,281 8,000 Total net position $ 34,120 $ 36,415 $ 6,313 $ 76,848

Manatee County, FloridaCombining Statement of Net Position

Nonmajor Enterprise FundsSeptember 30, 2018


-95-


Operating revenues: Charges for services $ 1,283 $ 42 $ 1,822 $ 3,147 Miscellaneous 118 - 37 155 Total operating revenues 1,401 42 1,859 3,302

Operating expenses: Personal services 7,729 3,158 839 11,726 Operating expenses 5,931 3,465 1,365 10,761 Depreciation 2,718 314 302 3,334 Total operating expenses 16,378 6,937 2,506 25,821

Operating loss (14,977) (6,895) (647) (22,519)

Nonoperating revenues (expenses): Operating grants and contributions 5,862 175 - 6,037 Interest income 32 128 46 206 Gain (loss) on disposition of assets (12) 17 2 7 Total nonoperating revenues (expenses) 5,882 320 48 6,250

Loss before contributions and transfers (9,095) (6,575) (599) (16,269)

Capital grants and contributions 2,271 - - 2,271 Transfers in 7,565 7,968 600 16,133

Transfers out (392) - - (392) Changes in net position 349 1,393 1 1,743

Total net position, October 1, as previously stated 32,406 34,645 6,154 73,205 Restatement of net position due to the implementation of GASB 75 1,365 377 158 1,900 Total net position, October 1, restated 33,771 35,022 6,312 75,105 Total net position, September 30 $ 34,120 $ 36,415 $ 6,313 $ 76,848

Manatee County, FloridaCombining Statement of Revenues, Expenses

and Changes in Fund Net PositionNonmajor Enterprise Funds


-96-


Cash flows from operating activities: Cash received from customers $ 1,398 $ 42 $ 1,947 $ 3,387 Cash payments to vendors for goods and services (1,416) (1,686) (1,039) (4,141) Cash payments to employees for services (6,525) (2,507) (742) (9,774) Cash payments to other funds (5,628) (2,194) (463) (8,285) Net cash provided (used) by operating activities (12,171) (6,345) (297) (18,813)

Cash flows from noncapital financing activities: Operating grants and contributions 6,442 215 - 6,657 Transfers in 7,565 7,961 600 16,126

Transfers out (392) - - (392)

Net cash provided (used) by noncapital financing activities 13,615 8,176 600 22,391

Cash flows from capital and related financing activities: Acquisition and construction of capital assets (1,656) (1,308) (4) (2,968) Receipt of contributed capital 986 - - 986 Proceeds from sale of assets 1 17 2 20 Net cash provided (used) by capital and related financing activities (669) (1,291) (2) (1,962)

Cash flows from investing activities: Interest on investments 32 124 45 201

Net increase (decrease) in cash and cash equivalents 807 664 346 1,817 Cash and cash equivalents, October 1 70 8,762 2,963 11,795

$ 877 $ 9,426 $ 3,309 $ 13,612

Classified as:

Current assets $ 877 $ 9,426 $ 3,309 $ 13,612

Restricted assets - - - -

Cash and cash equivalents, September 30 $ 877 $ 9,426 $ 3,309 $ 13,612

(Continued)

Cash and cash equivalents, September 30

Manatee County, FloridaCombining Statement of Cash Flows

Nonmajor Enterprise FundsSeptember 30, 2018


-97-


Reconciliation of operating loss to net cash provided (used) by operating activities:Operating loss $ (14,977) $ (6,895) $ (647) $ (22,519) Adjustments to reconcile operating loss to net cash provided (used) by operating activities: Depreciation 2,718 314 302 3,334 Changes in assets, deferred outflows, liabilities and deferred inflows: (Increase) decrease in: Accounts receivable - 3 15 18 Due from other governmental units (1) - - (1) Prepaid items (6) (3) 4 (5) Inventory - - 7 7 Deferred pension outflows (209) (107) (37) (353) Increase (decrease) in: Accounts payable (41) 58 (58) (41) Wages and benefits payable (17) (50) 2 (65) Due to other funds 5 - - 5 Customer deposits (1) - 73 72 Compensated absences 30 114 (18) 126 OPEB liability (357) (79) (7) (443) Net pension liability 396 173 51 620 Deferred OPEB inflows 32 24 4 60 Deferred pension inflows 257 103 12 372 Total adjustments 2,806 550 350 3,706 Net cash provided (used) by operating activities $ (12,171) $ (6,345) $ (297) $ (18,813)

Noncash investing, capital, and financing activities:

Loss on disposition of assets $ 12 $ - $ - $ 12

Acquisition of contributed assets $ 317 $ - $ - $ 317

Assets transferred from (to) other funds $ - $ 7 $ - $ 7

Manatee County, FloridaCombining Statement of Cash Flows

Nonmajor Enterprise Funds - ContinuedSeptember 30, 2018


-98-


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

Health AutomatedSelf Self Systems

Motor Pool Insurance Insurance Maintenance Total

Assets

Current assets: Cash and cash equivalents $ 3,509 $ 7,514 $ 2,395 $ 13,343 $ 36,271 $ 941 $ 63,973 Accounts receivable (net) 30 7 63 142 579 - 821 Interest receivable 5 10 4 20 54 1 94 Prepaid items - 8 14 1,779 - 334 2,135 Inventory 851 340 902 - - - 2,093 Deposits - - - 101 - - 101 Total current assets 4,395 7,879 3,378 15,385 36,904 1,276 69,217

Noncurrent assets: Advance to other funds - - - - 4,790 - 4,790 Land and other nondepreciable assets - 4,620 - - - - 4,620 Capital assets, net of $36,052 acc. depr 691 21,762 153 - 181 779 23,566 Total noncurrent assets 691 26,382 153 - 4,971 779 32,976 Total assets 5,086 34,261 3,531 15,385 41,875 2,055 102,193


Deferred pension outflows 89 1,014 357 88 158 69 1,775

Liabilities

Current liabilities: Accounts payable 320 1,832 942 113 179 142 3,528 Wages and benefits payable 5 91 32 11 13 6 158 Claims payable - - - 8,520 3,971 - 12,491 Compensated absences - 19 - - - - 19 Unearned revenue - - - - 252 - 252 Total current liabilities 325 1,942 974 8,644 4,415 148 16,448

Noncurrent liabilities: Compensated absences 26 236 176 41 33 6 518 OPEB liability 21 1,637 32 7 205 7 1,909 Net pension liability 141 2,377 762 181 287 165 3,913 Total noncurrent liabilities 188 4,250 970 229 525 178 6,340 Total liabilities 513 6,192 1,944 8,873 4,940 326 22,788


Deferred OPEB inflows 3 173 3 1 22 1 203 Deferred pension inflows 12 257 154 106 32 25 586 Total deferred inflows of resources 15 430 157 107 54 26 789

Net Position

Net investment in capital assets 691 26,382 153 - 181 779 28,186 Unrestricted 3,956 2,271 1,634 6,493 36,858 993 52,205 Total net position $ 4,647 $ 28,653 $ 1,787 $ 6,493 $ 37,039 $ 1,772 $ 80,391

September 30, 2018(Amounts expressed in thousands)

CommunicationsCentral Stores

Manatee County, FloridaCombining Statement of Net Position


-99-

Health AutomatedSelf Self Systems

Central Stores Motor Pool Communications Insurance Maintenance Total

Operating revenues: Charges for services $ 4,043 $ 13,735 $ 1,938 $ 8,915 $ 47,117 $ 1,825 $ 77,573 Miscellaneous - 35 2 596 3,704 - 4,337 Total operating revenues 4,043 13,770 1,940 9,511 50,821 1,825 81,910

Operating expenses: Personal services 168 4,625 917 2,491 646 187 9,034 Operating expenses 3,857 4,262 1,291 4,921 48,091 1,034 63,456 Depreciation 101 5,546 41 - 24 279 5,991 Total operating expenses 4,126 14,433 2,249 7,412 48,761 1,500 78,481

Operating income (loss) (83) (663) (309) 2,099 2,060 325 3,429

Nonoperating revenues (expenses): Interest income 49 95 37 184 579 12 956 Gain (loss) on disposition of assets (2) 444 (87) - - (3) 352 Total nonoperating revenues (expenses) 47 539 (50) 184 579 9 1,308

Income (loss) before contributions and transfers (36) (124) (359) 2,283 2,639 334 4,737

Transfers in - 1,035 - - - - 1,035 Transfers out - - (33) - (2) - (35) Change in net position (36) 911 (392) 2,283 2,637 334 5,737

Total net position, October 1, as previously stated 4,702 28,001 2,354 4,213 34,438 1,450 75,158

Restatement of net position due to the implementation of GASB 75 (19) (259) (175) (3) (36) (12) (504) Total net position, October 1, restated 4,683 27,742 2,179 4,210 34,402 1,438 74,654 Total net position, September 30 $ 4,647 $ 28,653 $ 1,787 $ 6,493 $ 37,039 $ 1,772 $ 80,391

Insurance

Manatee County, FloridaCombining Statement of Revenues, Expenses

and Changes in Fund Net PositionInternal Service Funds


-100-

HealthSelf Self

Central Stores Motor Pool Communications Insurance Insurance Total

Cash flows from operating activities: Cash received from customers $ 362 $ 150 $ 908 $ 596 $ 7,344 $ - $ 9,360 Cash received from other funds for goods and services 3,712 13,760 1,118 9,020 43,100 1,825 72,535 Cash payments to vendors for goods and services (3,958) (2,638) (1,158) (5,427) (48,745) (1,048) (62,974) Cash payments to employees for services (125) (2,535) (870) (2,435) (348) (155) (6,468) Cash payments to other funds (102) (651) (208) (128) (28) (54) (1,171) Net cash provided (used) by operating activities (111) 8,086 (210) 1,626 1,323 568 11,282

Cash flows from noncapital financing activities: Transfers in - 1,035 - - - - 1,035 Transfers out - - - - (2) - (2) Decrease in advance to other funds - - - - 270 - 270 Net cash provided (used) by non capital financing activities - 1,035 - - 268 - 1,303

Cash flows from capital and related financing activities: Acquisition of capital assets (2) (8,710) (37) - (17) (231) (8,997) Proceeds from sale of assets - 493 - - - - 493 Net cash provided (used) by capital and related financing activities (2) (8,217) (37) - (17) (231) (8,504)

Cash flows from investing activities: Interest on investments 48 92 36 179 567 11 933

Net increase (decrease) in cash and cash equivalents (65) 996 (211) 1,805 2,141 348 5,014

Cash and cash equivalents, October 1 3,574 6,518 2,606 11,538 34,130 593 58,959 Cash and cash equivalents, September 30 $ 3,509 $ 7,514 $ 2,395 $ 13,343 $ 36,271 $ 941 $ 63,973

Manatee County, FloridaCombining Statement of Cash FlowsInternal Service Funds - Continued


Maintenance

AutomatedSystems

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HealthSelf Self

Central Stores Motor Pool Communications Insurance Insurance Total

Reconciliation of operating income (loss) to net cash provided (used) by operating activities: Operating income (loss) $ (83) $ (663) $ (309) $ 2,099 $ 2,060 $ 325 $ 3,429 Adjustments to reconcile operating income to net cash provided (used) by operating activities: Depreciation 101 5,546 41 - 24 279 5,991 Changes in assets, deferred outflows, liabilities and deferred inflows: (Increase) decrease in: Accounts receivable 31 140 86 105 (313) - 49 Prepaid items - 13 (14) 483 71 (19) 534 Inventory (144) 8 (778) - - - (914) Deposits - - - (13) - - (13) Deferred pension outflows (26) (11) 9 12 (19) 1 (34) Increase (decrease) in: Accounts payable (29) 1,376 835 46 (30) (24) 2,174 Wages and benefits payable - (16) (6) 1 (1) - (22)

SystemsMaintenance

Manatee County, FloridaCombining Statement of Cash FlowsInternal Service Funds - Continued


Automated

Claims payable - - - (1,118) (723) - (1,841) Unearned revenue - - - - 13 - 13 Compensated absences 1 (39) (3) 8 8 (1) (26) OPEB liability 2 1,378 (143) 4 169 (5) 1,405 Net pension liability 26 80 (12) (7) 30 (2) 115 Deferred OPEB inflows 3 173 3 1 22 1 203 Deferred pension inflows 7 101 81 5 12 13 219 Total adjustments (28) 8,749 99 (473) (737) 243 7,853

Net cash provided (used) by operating activities $ (111) $ 8,086 $ (210) $ 1,626 $ 1,323 $ 568 $ 11,282

Noncash investing, capital and financing activities: Loss on disposition of assets $ 2 $ - $ 87 $ - $ - $ 3 $ 92 Assets transferred from (to) other funds - - (33) - - - (33)

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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 $ 8,770 $ 1,152 $ 502 $ 6,833 $ 17,257

Liabilities

Due to individuals $ 7,273 $ 1,152 $ - $ - $ 8,425 Due to other governmental units 1,497 - 502 6,833 8,832 Total liabilities $ 8,770 $ 1,152 $ 502 $ 6,833 $ 17,257

Manatee County, FloridaCombining Statement of Fiduciary Net Position

All Agency FundsSeptember 30, 2018


-103-

Balance BalanceOctober 1 Additions Deductions September 30

Clerk General Agency:Assets

Cash and cash equivalents $ 9,845 $ 97,732 $ 98,807 $ 8,770

Liabilities

Due to individuals $ 8,583 $ 31,701 $ 33,011 $ 7,273 Due to other governmental units 1,262 66,031 65,796 1,497 Total liabilities $ 9,845 $ 97,732 $ 98,807 $ 8,770

Sheriff General Agency:Assets


Liabilities

Due to individuals $ 1,533 $ 3,191 $ 3,572 $ 1,152

Tax Collector-State-General Agency:Assets

Cash and cash equivalents $ 493 $ 23,518 $ 23,509 $ 502

Liabilities

Due to other governmental units $ 493 $ 27,569 $ 27,560 $ 502

Tax Collector-Local-General Agency:Assets


Liabilities

Due to other governmental units $ 6,287 $ 628,283 $ 627,737 $ 6,833

Total All Agency Funds:Assets


Liabilities

Due to individuals $ 10,116 $ 34,892 $ 36,583 $ 8,425 Due to other governmental units 8,042 721,883 721,093 8,832 Total liabilities $ 18,158 $ 756,775 $ 757,676 $ 17,257

(Amounts expressed in thousands)For the Fiscal Year Ended September 30, 2018

All Agency FundsCombining Statement of Changes in Assets and Liabilities


-104-

Statistical Section

Florine Abel, 1906-1983Florine Jones Abel served the Manatee County School Board for almost 30 years as an educator, Principal, Supervisor for Black Education, and as an Advisory Specialist for the School Administration. Florine served on numerous boards and has the distinction of being the first African American to serve on the Gulf Coast Council of the Girl Scouts.


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 105

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 110

These schedules contain information to help the reader assess the County’s most significant sources of revenue.

Debt Capacity 114

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 118

These schedules offer demographics and economic indicators to help the reader understand the environment within which the County’s financial activities take place.

Operating Information 120

These schedules contain information regarding the number of employees, the operating indicators, and the capital assets used in the various functions and programs.

Other 123

These schedules contain other information to assist the readers in understanding the County’s operations.

Current Debt 125

These schedules contain information regarding the County’s current debt.

2018 2017 (2) 2016 2015 2014 (1) 2013 2012 2011 2010 2009Governmental activities: Net investment in capital assets $ 1,006,820 $ 981,983 $ 955,966 $ 925,261 $ 889,297 $ 859,551 $ 848,429 $ 838,347 $ 800,517 $ 808,472 Restricted - - - - 5,306 6,889 6,460 5,829 6,206 5,967 Unrestricted 192,312 163,662 116,901 127,021 140,458 286,389 308,917 330,254 376,864 354,914 Total governmental activities net position 1,199,132 1,145,645 1,072,867 1,052,282 1,035,061 1,152,829 1,163,806 1,174,430 1,183,587 1,169,353

Business-type activities: Net investment in capital assets 782,761 829,958 798,555 767,066 739,886 721,029 715,184 711,960 686,634 651,248 Restricted 71,590 11,129 8,997 10,013 10,359 11,476 16,950 20,801 9,765 9,360 Unrestricted 275,010 233,775 196,572 163,633 146,196 158,011 122,663 101,167 98,090 111,084 Total business-type activities net position 1,129,361 1,074,862 1,004,124 940,712 896,441 890,516 854,797 833,928 794,489 771,692

Primary government: Net investment in capital assets 1,789,581 1,811,941 1,754,521 1,692,327 1,629,183 1,580,580 1,563,613 1,550,307 1,487,151 1,459,720 Restricted 71,590 11,129 8,997 10,013 15,665 18,365 23,410 26,630 15,971 15,327 Unrestricted 467,322 397,437 313,473 290,654 286,654 444,400 431,580 431,421 474,954 465,998 Total primary government net position $ 2,328,493 $ 2,220,507 $ 2,076,991 $ 1,992,994 $ 1,931,502 $ 2,043,345 $ 2,018,603 $ 2,008,358 $ 1,978,076 $ 1,941,045

(1) Certain fiscal year 2014 balances have been restated due to the implementation of GASB 68.(2) Certain fiscal year 2017 balances have been restated due to the implementation of GASB 75.

Manatee County, FloridaNet Position by Component

Last Ten Fiscal Years (Amounts expressed in thousands)

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Governmental activities: 2018 2017 (2) 2016 2015 2014 (1) 2013 2012 2011 2010 2009Functions/Programs Expenses General government $ 99,834 $ 95,367 $ 89,085 $ 83,176 $ 79,466 $ 77,800 $ 80,151 $ 77,272 $ 75,363 $ 85,233 Public safety 192,286 182,837 173,306 152,037 139,344 141,768 145,074 145,172 144,640 147,808 Physical environment 12,145 10,004 9,189 8,482 8,399 8,034 6,734 6,744 8,031 10,524 Transportation 43,110 41,191 38,006 36,644 36,601 35,118 34,304 34,889 37,775 37,844 Economic environment 18,951 19,311 15,572 14,873 13,911 16,159 13,269 16,047 16,591 16,091 Human services 33,997 30,014 28,993 29,387 32,394 31,844 30,445 28,397 25,990 29,020 Culture and recreation 20,222 19,250 18,097 19,654 17,314 17,339 17,477 17,843 16,872 18,687 Interest on long-term debt 3,811 3,891 4,300 4,207 4,677 4,195 5,791 6,223 6,772 7,626 Total governmental activities 424,356 401,865 376,548 348,460 332,106 332,257 333,245 332,587 332,034 352,833

Program Revenues Charges for services General government 37,332 34,712 33,781 35,958 34,912 26,852 26,202 24,306 23,400 28,288 Public safety 23,484 23,047 27,182 24,346 22,455 22,179 18,005 16,550 15,912 14,048 Physical environment 182 219 449 327 130 175 188 223 387 282 Transportation 22,064 18,527 13,518 8,989 12,304 10,149 8,011 5,326 7,800 8,088 Economic environment 1,010 684 550 330 299 311 238 246 93 196 Human services 166 141 152 192 135 250 412 512 839 1,474 Culture and recreation 6,871 6,794 7,251 6,048 5,275 5,063 3,351 2,338 2,504 2,168 Operating grants and contributions 22,519 21,132 18,555 20,678 18,413 25,503 19,468 22,158 24,359 20,384 Capital grants and contributions 9,650 10,492 10,075 7,797 11,001 3,985 9,919 18,325 9,947 33,449 Total governmental activities program revenues 123,278 115,748 111,513 104,665 104,924 94,467 85,794 89,984 85,241 108,377

Net (Expense) Revenue (301,078) (286,117) (265,035) (243,795) (227,182) (237,790) (247,451) (242,603) (246,793) (244,456)

General Revenues and Other Changes in Net Position Taxes Property taxes 221,469 202,515 187,729 172,458 160,543 154,445 157,628 164,066 189,299 208,545 Gasoline taxes 25,527 25,614 24,848 23,543 21,777 21,031 21,119 20,924 21,050 20,803 Sales tax 24,819 25,401 24,445 23,250 23,671 18,722 18,984 17,803 16,331 16,208 Infrastructure surtax 24,549 17,438 - - - - - - - - Other taxes Tourism taxes 14,725 13,357 12,870 11,611 10,441 8,918 8,065 6,971 6,382 5,147 Communication services taxes 5,003 4,949 4,977 4,934 5,434 5,141 5,153 5,256 5,404 5,623 Phosphate severance taxes 1,056 698 555 421 424 790 674 940 725 1,198 Vessel tax 368 382 370 405 366 366 353 403 305 388 State revenue sharing 9,957 9,388 8,884 8,543 7,797 7,249 12,818 12,405 12,199 7,578 Interest income 7,575 3,967 3,289 2,473 1,504 1,347 2,613 3,178 5,805 14,311 Miscellaneous 24,801 20,536 19,890 17,524 16,852 10,547 9,714 9,771 9,406 8,700 Transfers (5,284) (3,456) (2,237) (4,146) (3,354) (1,743) (294) (8,271) (4,881) (5,147) Total general revenues and other changes in net position 354,565 320,789 285,620 261,016 245,455 226,813 236,827 233,446 262,025 283,354 Total governmental activities change in net position $ 53,487 $ 34,672 $ 20,585 $ 17,221 $ 18,273 $ (10,977) $ (10,624) $ (9,157) $ 15,232 $ 38,898

(Continued)

(2) Fiscal year 2017 expenses have been restated due to the implementation of GASB 75.


Manatee County, FloridaChanges in Net Position


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Business-Type Activities 2018 2017 (2) 2016 2015 2014 (1) 2013 2012 2011 2010 2009Function/Program Expenses Water and sewer $ 119,036 $ 109,314 $ 109,534 $ 103,855 $ 98,059 $ 91,871 $ 93,388 $ 91,420 $ 88,061 $ 88,066 Port Authority 15,408 14,026 14,166 13,788 15,258 15,311 15,043 15,239 16,115 14,400 Solid waste 46,988 34,679 36,414 34,666 32,954 32,404 31,500 25,006 31,328 29,913 Transit 16,388 14,982 13,915 13,525 12,233 12,289 10,700 11,208 10,979 10,910 Stormwater 6,954 5,968 5,619 5,070 4,856 4,836 4,026 3,904 3,325 3,780 Golf courses - - - - - - 348 3,272 3,179 3,476 Civic center 2,478 2,515 2,322 2,668 2,281 2,374 4,800 2,692 2,322 2,408 Total expenses 207,252 181,484 181,970 173,572 165,641 159,085 159,805 152,741 155,309 152,953

Program Revenues Charges for services Water and sewer 141,563 134,568 127,484 115,478 108,967 105,648 103,725 98,006 90,976 93,723 Port Authority 16,065 13,832 12,021 10,287 9,457 10,384 10,281 10,171 11,697 11,151 Solid waste 46,282 44,403 42,847 40,083 38,438 37,904 37,195 35,342 36,701 38,390 Transit 1,283 1,304 1,377 1,409 1,284 1,206 1,177 1,064 1,096 1,053 Stormwater 59 84 89 49 66 179 94 45 80 76 Golf courses - - - - - - 862 2,957 2,828 3,349 Civic center 1,824 1,810 1,707 1,624 1,532 1,392 1,394 1,449 1,311 1,279 Operating grants and contributions 6,678 5,917 5,743 5,004 5,769 4,923 3,788 3,245 3,684 4,133 Capital grants and contributions 42,352 39,649 51,627 39,580 25,125 31,248 20,579 31,404 24,449 29,982 Total revenues 256,106 241,567 242,895 213,514 190,638 192,884 179,095 183,683 172,822 183,136

Net (Expense) Revenue 48,854 60,083 60,925 39,942 24,997 33,799 19,290 30,942 17,513 30,183

General Revenues and Other Changes in Net Position Interest income 206 102 68 34 19 15 52 62 113 314 Miscellaneous 155 151 182 149 143 162 182 164 894 1,124 Gain on asset impairment - - - - - - 1,051 - - - Transfers 5,284 3,456 2,237 4,146 3,354 1,743 294 8,271 4,881 5,147 Total general revenues and other changes in net position 5,645 3,709 2,487 4,329 3,516 1,920 1,579 8,497 5,888 6,585

Total business-type activity change in net position 54,499 63,792 63,412 44,271 28,513 35,719 20,869 39,439 23,401 36,768

Total primary government change in net position $ 107,986 $ 98,464 $ 83,997 $ 61,492 $ 46,786 $ 24,742 $ 10,245 $ 30,282 $ 38,633 $ 75,666


Manatee County, FloridaChanges in Net Position - Continued

Last Ten Fiscal Years(Amounts expressed in thousands)


-107-

Revenues: 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 Taxes $ 286,585 $ 258,611 $ 225,320 $ 207,764 $ 193,590 $ 185,069 $ 187,491 $ 192,805 $ 217,734 $ 235,692 Licenses and permits 40,038 35,581 33,652 25,811 27,869 24,035 17,144 12,228 13,128 11,198 Intergovernmental 78,569 76,688 72,021 68,865 71,078 62,406 64,148 73,489 66,247 57,118 Charges for services 44,160 42,362 45,541 43,193 38,673 40,112 36,382 37,205 38,374 41,491 Fines and forfeitures 7,070 5,591 5,718 6,566 8,759 1,787 1,067 1,377 1,480 3,157 Interest income 6,621 3,448 2,806 2,154 1,299 1,237 2,074 3,067 5,727 14,162 Assessments 23 90 114 141 173 532 94 110 169 224 Contributions 5,345 2,699 3,125 5,223 1,656 2,397 1,941 4,227 5,373 7,566 Miscellaneous 8,911 6,770 6,719 7,018 5,427 6,030 5,233 5,180 4,902 4,466 Total revenues 477,322 431,840 395,016 366,735 348,524 323,605 315,574 329,688 353,134 375,074

Expenditures: General government 82,851 77,807 77,303 75,256 74,199 70,073 68,914 70,899 72,199 76,706 Public safety 179,787 163,698 157,314 150,126 142,977 133,028 134,356 136,625 136,132 139,465 Physical environment 6,549 5,765 5,407 5,007 4,758 4,291 4,625 4,781 5,154 5,778 Transportation 27,145 26,454 23,980 22,928 23,927 19,138 21,776 22,507 25,401 27,404 Economic environment 19,540 19,696 16,171 15,357 14,471 16,413 13,387 16,298 16,857 16,448 Human services 32,698 30,057 28,149 29,452 30,088 30,148 30,051 28,147 25,594 28,635 Culture and recreation 16,890 16,667 15,357 15,352 14,831 14,507 14,388 14,900 15,741 18,051 Intergovernmental 6,068 5,545 4,643 4,361 4,026 4,568 3,781 4,336 4,373 4,489 Debt service: Interest 4,435 4,617 5,029 4,918 5,383 4,956 6,302 6,784 7,409 8,171 Principal 33,941 16,736 13,811 13,079 20,395 14,250 13,276 12,903 12,180 33,173 Capital projects 51,507 49,053 57,455 52,420 39,041 18,493 22,008 44,579 43,655 36,209 Total expenditures 461,411 416,095 404,619 388,256 374,096 329,865 332,864 362,759 364,695 394,529

Excess of revenues over (under) expenditures 15,911 15,745 (9,603) (21,521) (25,572) (6,260) (17,290) (33,071) (11,561) (19,455)

Other financing sources (uses): Bond proceeds - - 53,895 - 6,482 - - - - - Revenue or refunding bonds issued - - - - 7,275 79,640 - - 13,740 - Loans issued and capital lease acquisition 38,000 - - - - 5,984 - - - - Premiums on bonds - - - - - 14,231 - - 755 - Payments to refunded bond escrow agent - - - - - (87,607) - - (14,295) - Transfers in 96,704 69,467 65,890 72,459 51,884 47,285 63,113 63,291 60,406 82,209 Transfers out (102,988) (73,924) (69,327) (76,263) (54,646) (49,578) (64,983) (72,899) (67,886) (89,856) Total other financing sources (uses) 31,716 (4,457) 50,458 (3,804) 10,995 9,955 (1,870) (9,608) (7,280) (7,647)

Net change in fund balances $ 47,627 $ 11,288 $ 40,855 $ (25,325) $ (14,577) $ 3,695 $ (19,160) $ (42,679) $ (18,841) $ (27,102)

Capital outlay in functional categories $ 60,199 $ 54,668 $ 64,655 $ 62,793 $ 50,904 $ 24,721 $ 28,617 $ 53,422 $ 53,237 $ 44,036 Noncapital expenditures (1) $ 401,212 $ 361,427 $ 339,964 $ 325,463 $ 323,192 $ 305,144 $ 304,247 $ 309,337 $ 311,458 $ 350,493 Debt service as a percentage of noncapital expenditures 9.57% 5.91% 5.54% 5.53% 7.98% 6.29% 6.43% 6.36% 6.29% 11.80%

(1) Noncapital expenditures exclude capital outlay in functional categories.

Manatee County, FloridaChanges in Fund Balances - Governmental Funds


-108-

General Fund: (1) 2018 2017 2016 2015 2014 2013 2012 2011 Nonspendable $ 5,487 $ 5,390 $ 5,820 $ 19,015 $ 16,201 $ 16,689 $ 6,510 $ 14,370 Restricted 578 270 386 70 70 1,104 58 117 Committed 1,245 1,583 833 1,121 1,623 2,527 2,572 1,815 Assigned 10,254 7,841 5,960 5,027 4,766 5,158 3,093 4,828 Unassigned 96,508 83,875 81,539 66,252 69,810 74,194 93,062 97,607 Total general fund $ 114,072 $ 98,959 $ 94,538 $ 91,485 $ 92,470 $ 99,672 $ 105,295 $ 118,737

All Other Governmental Funds: Nonspendable $ 816 $ 1,218 $ 798 $ 2,568 $ 2,886 $ 6,143 $ 1,296 $ 2,863 Restricted 237,791 203,136 198,128 162,852 185,850 188,630 186,915 191,501 Committed 23,357 20,145 18,991 16,900 14,325 11,345 10,529 10,322 Assigned 34,408 37,557 37,272 35,067 38,666 42,984 45,232 45,756 Unassigned (1,802) - - - - - (4,188) (4,940) Total all other governmental funds $ 294,570 $ 262,056 $ 255,189 $ 217,387 $ 241,727 $ 249,102 $ 239,784 $ 245,502

General Fund: 2010 2009 Reserved for: Encumbrances $ 6,160 $ 6,007 Prepaid items 568 299 Inventory 257 251 Advance to other funds 5,327 5,277 Unreserved 116,219 116,402 Total general fund $ 128,531 $ 128,236

All Other Governmental Funds: Reserved for: Encumbrances $ 33,088 $ 40,074 Prepaid items 77 112 Inventory 133 162 Advance to other funds 872 1,907 Long-term amounts due from other governmental units 8,705 13,431 Permanent fund - - Unreserved, reported in: Special revenue funds 147,411 143,694 Debt service funds 395 398 Capital project funds 87,707 97,747 Total all other governmental funds $ 278,388 $ 297,525

(1) In FY2011 the County implemented GASB 54 under which governmental fund balances are reported as nonspendable, restricted, committed, assigned and unassigned.

Manatee County, FloridaFund Balances - Governmental Funds


-109-

NetCommercial Assessed Value Total Total Estimated

Fiscal Tax Residential and Industrial Other of Personal Direct ActualYear Year Property Property Property Property (2) Assessed Value Tax Rate (3) Value (4)

2009 2008 $ 25,404,479 $ 4,443,901 $ 1,124,642 $ 2,520,744 $ 33,493,766 6.3949 $ 43,570,796 76.87%

2010 2009 21,227,750 4,027,426 882,384 2,536,232 28,673,792 6.4083 38,180,597 75.10%

2011 2010 17,691,626 3,887,290 812,334 2,453,435 24,844,685 6.4247 32,618,003 76.17%

2012 2011 16,939,273 3,669,947 771,043 2,376,466 23,756,729 6.4296 30,972,222 76.70%

2013 2012 16,477,891 3,556,689 761,194 2,462,136 23,257,910 6.4326 30,060,227 77.37%

2014 2013 17,276,800 3,559,058 795,015 2,525,934 24,156,807 6.4326 31,330,838 77.10%

2015 2014 18,885,024 3,657,751 839,467 2,569,393 25,951,635 6.4326 34,685,005 74.82%

2016 2015 20,835,261 3,828,228 863,784 2,691,811 28,219,084 6.4326 39,064,397 72.24%

2017 2016 22,956,838 4,004,233 895,975 2,684,243 30,541,289 6.4326 42,555,234 71.77%

2018 2017 25,412,727 4,170,455 980,134 2,775,387 33,338,703 6.4326 46,062,218 72.38%

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 page 113 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


Net TaxableActual Value

Taxable AssessedNet Assessed Value of Real Property (1)

Value as Percentageof Estimated

-110-

Total Tax Collection in Fiscal Tax Levy for Subsequent Year Year Fiscal Year (1) (4) Amount (1) (2) Years (2) (3) Amount Percentage of Levy

2009 2008 $ 213,749 $ 208,502 97.55% $ 923 $ 209,425 97.98%

2010 2009 196,043 188,441 96.12% 657 189,098 96.46%

2011 2010 169,938 163,616 96.28% 436 164,052 96.54%

2012 2011 162,715 156,857 96.40% 294 157,151 96.58%

2013 2012 159,669 154,031 96.47% 176 154,207 96.58%

2014 2013 166,094 160,149 96.42% 142 160,291 96.51%

2015 2014 178,675 172,227 96.39% 127 172,354 96.46%

2016 2015 194,056 187,607 96.68% (222) 187,385 96.56%

2017 2016 210,057 202,699 96.50% 104 202,803 96.55%

2018 2017 229,285 221,227 96.49% - 221,227 96.49%

(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

Total Collections to Date

Manatee County, FloridaProperty Tax Levies and Collections


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Assessed AssessedTaxpayer Value Ranking (2) Value Ranking (2)

Florida Power and Light Company $ 1,018,608 3.06% 1 $ 766,767 2.29% 1

Tropicana Products, Inc. 345,875 1.04% 2 332,643 0.99% 2

Mosaic Fertilizer LLC 166,903 0.50% 3 - - -

Gulfstream Natural Gas System LLC 148,011 0.44% 4 171,393 0.51% 3

Peace River Electric Co Op, Inc. 120,025 0.36% 5 - - -

Manatee Memorial Hospital 115,019 0.35% 6 87,351 0.26% 7

Gulf Coast Factory Shops 110,000 0.33% 7 105,584 0.32% 6

Frontier Florida LLC/Verizon Florida, Inc. (3) 85,967 0.26% 8 155,165 0.46% 4

Publix Super Markets, Inc 78,128 0.23% 9 - - -

93 FLRPT LLC 77,276 0.23% 10 - - -

Wal-Mart Stores, Inc. - - - 91,342 0.27% 5

Bright House Networks - - - 81,953 0.24% 8

Benderson - - - 67,657 0.20% 9

HCA Health Services of Florida - - - 62,931 0.19% 10

$ 2,265,812 6.80% $ 1,922,786 5.73%

(1) Percentage of total net assessed value is calculated using total net taxable assessed value on page 110.(2) Prior to 2016, ranking was based on Gross Tax. Rankings in Fiscal Year 2016 and later are based on Assessed Value. (3) Verizon Florida, Inc became Frontier Florida, LLC during Fiscal Year 2018.

Source: 2018 - Manatee County Property Appraiser; 2009 - Manatee County Tax Collector

Value (1) Value (1)

of Total NetAssessed Assessed

of Total Net

Fiscal Year 2009Percentage Percentage

Fiscal Year 2018

Current and Nine Years Ago(Amounts expressed in thousands)

Manatee County, FloridaPrincipal Property Taxpayers

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2018 2017 2016 2015 2014 2013 2012 2011 2010 2009

Direct Rates County Operating General Operation Fund 5.5982 5.5982 5.5822 5.4902 5.4750 5.4707 5.4707 5.4791 5.3929 5.3389 Transportation Trust Fund 0.2513 0.2416 0.2416 0.2416 0.2425 0.2446 0.2625 0.2625 0.3487 0.3843 Library Operating Fund 0.2475 0.2475 0.2475 0.2475 0.2485 0.2507 0.2328 0.2244 0.2244 0.2428 Children's Service Fund 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 Debt 0.0023 0.0120 0.0280 0.1200 0.1333 0.1333 0.1303 0.1254 0.1090 0.0956 Total 6.4326 6.4326 6.4326 6.4326 6.4326 6.4326 6.4296 6.4247 6.4083 6.3949

Overlapping Rates (1)

School Board 6.6080 6.9200 7.2670 7.3760 7.5720 7.5890 7.9600 7.5910 7.5410 7.3720

Taxing Districts (2) 0.4804 0.5061 0.5104 0.5274 0.5498 0.5608 0.5608 0.6888 0.6878 0.6832

Unincorporated Municipal Service Tax 0.6109 0.6109 0.6109 0.6109 0.6109 0.6109 0.6109 0.6109 0.6109 0.6109County Millage Paid by County Taxpayers 14.1319 14.4696 14.8209 14.9469 15.1653 15.1933 15.5613 15.3154 15.2480 15.0610

Ad Valorem Fire Districts Cedar Hammock Fire Rescue 1.3000 1.3000 1.3000 1.3000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 East Manatee Fire Rescue 0.8000 0.8000 0.8000 0.8000 0.8000 0.8000 0.8000 0.8000 0.8000 0.8000 Southern Manatee Fire Rescue 1.2061 1.2061 1.2061 1.2061 1.0193 1.0405 1.0000 1.0000 1.0000 1.0000

Other (3) 0.2546 0.2546 5.2546 5.2546 5.0546 5.2546 4.6801 4.5446 4.2546 4.2546

Municipalities Anna Maria, City of 2.0500 2.0500 2.0500 2.0500 2.0500 2.0500 2.0500 1.7882 1.7882 1.7882 Bradenton Beach, City of 2.3329 2.3329 2.3329 2.3329 2.3329 2.3329 2.1359 2.1539 2.1539 2.2579 Bradenton, City of 5.8976 5.8976 5.8976 5.8976 5.8976 5.4356 5.2002 4.9452 4.2843 4.2843 Holmes Beach, City of 2.2500 2.2500 2.2500 1.7500 1.7500 1.7500 1.7500 1.7500 1.7549 1.5989 Longboat Key, Town of 2.1144 2.1144 2.1300 2.1763 2.1320 1.9436 1.9549 1.9588 2.3236 2.2483 Palmetto, City of 5.9671 5.9671 5.9671 5.7171 5.7171 5.2171 5.1185 4.6662 4.6662 4.6662Total Direct and Overlapping 38.3046 38.6423 44.0092 43.4315 42.9188 42.0176 41.2509 39.9223 39.2737 38.9594

Source: Manatee County Tax Collector

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 (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

(3) 2017 and 2018 include Palm Aire Landscaping Special District. 2016 and prior years included Palms of Terra Ceia Landscaping Special District and Palm Aire Landscaping Special District.

boundaries of the special district).(2) Includes Southwest Florida Water Management, Mosquito Control and West Coast Inland Navigation districts.

Manatee County, FloridaDirect and Overlapping Property Tax

Last Ten Years(millage)

Year Taxes Are Payable

-113-

Computation of Direct and Overlapping Debt (1)

Bonds, Notes Percentage& Loans Payable Applicable to This

Governmental Unit Governmental Unit

Direct:Manatee County, Florida $ 79,169 $ 43,375 $ 122,544 100%

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

Manatee County, FloridaSeptember 30, 2018

Bonds


Outstanding

Net Revenue

Outstanding

Notes & Loans

Outstanding

RevenueGovernmental

Payable

-114-

General PercentageFiscal Obligation Revenue Notes Loans Revenue Notes Loans of Personal PerYear Bonds Bonds Payable Payable Bonds Payable Payable Total Income (1) Capita (1)

2009 $ 16,716 $ 147,123 $ - $ - $ 136,685 $ - $ 29,877 $ 330,401 2.31% $ 1,001

2010 14,430 137,172 - - 120,979 - 30,969 303,550 2.27% 954

2011 12,078 125,517 - - 183,044 - 29,986 350,625 2.76% 1,082

2012 9,652 114,715 - - 167,060 800 28,985 321,212 2.61% 971

2013 7,134 114,425 5,984 - 170,408 499 6,929 305,379 2.26% 915

2014 4,605 108,515 5,984 - 161,950 3,453 2,809 287,316 1.82% 851

2015 1,825 96,583 5,857 - 233,949 3,102 2,590 343,906 2.30% 1,007

2016 1,235 117,168 24,313 - 224,558 2,745 2,367 372,386 2.33% 1,046

2017 635 99,692 24,153 - 218,208 2,386 4,616 349,690 2.07% 948

2018(2) - 83,872 41,375 2,000 345,047 2,010 4,372 478,676 2.68% 1,267

(1) Refer to page 116 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.

Manatee County, FloridaRatios of Outstanding Debt by Type


Governmental Activities Business-type Activities

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Per CapitaFiscal Income School

Year

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%

2015 341,405 43.8 14,953,539 46 47,700 5.1%

2016 356,133 44.8 15,954,758 46 48,600 4.7%

2017 368,782 45.9 16,927,094 46 48,867 3.3%

2018 377,826 47.3 17,871,170 46 49,152 2.9%

Sources: (1) Office of Economic and Demographic Research, State of Florida (2) Information from U.S. Bureau of Economic Analysis and estimated from 2009 through 2018 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) US Department of Labor, Bureau of Labor Statistics

Manatee County, FloridaDemographic and Economic Statistics

Last Ten Fiscal Years

Population (1) Enrollment (5)(in thousands) (2)

Personal Income(in thousands) (3)

Median UnemploymentAge (4) Rate (6)

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Employer Employees (1) Rank Rank

Manatee County School Board 5,695 1 3.28% 5,300 1 4.24%Manatee County Government 1,944 2 1.12% 1,864 2 1.49%Beall's Inc. 1,732 3 1.00% 1,500 5 1.20%Manatee Memorial Hospital 1,200 4 0.69% 1,500 4 1.20%Manatee County Sheriff's Department 1,176 5 0.68% 1,067 7 0.85%Tropicana Products, Inc. 1,000 6 0.58% 1,500 3 1.20%Publix 994 7 0.57% 860 8 0.69%Blake Medical Center 849 8 0.49% 1,156 6 0.92%IMG Academies 700 9 0.40% - - - Feld Entertainment 600 10 0.35% - - - TriNet 600 10 0.35% - - - Hoverround - - - 670 9 0.54%City of Bradenton - - - 583 10 0.47%

Total number of individuals employed within Manatee County (2) 173,486 124,962

Sources: (1) Bradenton Area Economic Development Council, Manatee County Government and Manatee County Sheriff's Department (2) US Department of Labor, Bureau of Labor Statistics

Manatee County, FloridaPrincipal Employers

Current and Nine Years Ago

2018

Employment

2009Percentage

of Total County

EmploymentEmployees (1)

Percentageof Total County

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2018 2017 2016 2015 2014 2013 2012 2011 2010 2009General government County residents per employee (number) (1) 194 198 194 190 193 193 194 188 177 177

Information system services - computers and printers maintained (number) 3,159 3,047 2,843 2,610 2,626 2,445 2,347 2,428 2,651 2,532

Library materials usage by patrons (units in thousands) 4,383 4,242 3,871 3,748 3,520 3,166 2,615 2,395 2,434 2,336 Library programs (number) 2,678 4,198 3,331 1,909 2,575 2,475 2,660 2,617 2,571 2,293 Project management projects (number) 310 193 277 224 149 177 163 258 288 371 Project management projects (thousands of dollars) 180,599 62,976 93,374 67,559 63,378 47,805 31,753 61,779 93,792 65,766

Public safety911 calls (number) 207,032 220,890 226,676 267,738 247,696 229,949 234,206 228,907 219,869 225,813 Emergency (ambulance) responses (number) 51,964 50,046 49,432 45,864 42,185 39,857 38,510 37,356 36,147 35,100 Code enforcement complaints (number) 11,127 15,481 10,818 11,729 10,345 10,605 10,632 10,291 10,154 8,069 Building permits issued (number) 29,679 24,774 22,277 23,764 21,964 17,946 14,411 13,173 12,694 9,905 Construction value (millions of dollars) 1,568 894 944 939 723 654 440 404 327 235

Physical environmentGrants received (number) 142 139 131 130 130 156 163 178 187 172 Grants received (dollars in thousands) 18,465 35,013 41,639 30,861 31,125 37,045 32,285 45,603 32,272 29,559 Protected land acquisition (acres) 89.2 16 - - - 150 - 199 - -

Transportation Roads graded (miles) 2,469 2,600 2,098 2,202 2,582 2,664 2,766 3,300 3,384 3,087 Rights-of-way cleared (linear yds.) 217,350 245,020 319,211 315,760 379,822 319,568 322,952 325,000 267,730 326,055

Economic environmentGrant expenditures (dollars in thousands) 28,584 31,748 42,134 33,132 32,684 35,136 28,751 44,710 39,338 29,185

Culture and recreationParticipants in programs (number) 767,102 719,673 642,368 591,084 544,955 575,530 535,252 527,574 520,350 652,220

Water and sewerWater customers (number) 123,350 119,872 116,573 113,042 110,051 107,018 104,561 103,091 96,113 95,349 Average daily water production (millions of gals.) 39.29 40.20 38.61 37.14 37.00 36.72 37.32 34.30 36.48 35.40 Reclaimed water customers (number) 6,560 6,028 5,471 4,711 4,014 3,272 2,772 2,550 2,367 2,205 Average daily reclaimed water production (millions of gals.) 18.37 18.74 16.38 14.20 13.00 14.90 15.79 13.31 10.80 10.03 Sewer customers (number) 105,470 102,646 99,770 97,084 94,900 92,760 90,989 89,745 88,758 87,723 Average daily sewage treated (millions of gals.) 20.59 21.81 21.58 22.52 22.00 22.20 21.13 18.98 21.24 18.37 Water meters installed/new accounts (number) 2,886 2,716 2,722 2,273 2,506 4,976 7,905 6,458 5,533 5,949

Port AuthorityCargo processed, import and export:

Liquid bulk cargoes (tons) 1,658 1,021 741 336 363 515 524 857 1,350 1,160 Dry bulk cargoes (tons) 1,970 1,327 807 806 977 1,620 1,222 1,314 1,366 1,340 General cargoes (tons) 988 912 791 834 688 514 542 527 688 716

Solid waste Waste for landfill (tons) 323,045 314,370 320,771 301,615 293,392 281,166 263,249 251,402 275,235 272,944 Waste recycled at landfill (tons) 35,976 35,881 35,358 33,241 32,687 32,887 36,748 41,711 26,832 20,543 Materials recycled (tons) (2) 471,353 264,564 302,273 287,879 279,494 232,061 159,503 130,616 160,188 194,000 Solid waste diverted from landfill (percentage) (2) 58% 54% 51% 49% 48% 43% 35% 34% 31% 40%

(Continued)

Manatee County, FloridaOperating Indicators by Function/Program


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2018 2017 2016 2015 2014 2013 2012 2011 2010 2009Transit

Bus routes (miles) 306 306 303 267 243 243 243 243 243 243 Passenger trips (number in thousands) 1,368 1,495 1,648 1,760 1,824 1,781 1,740 1,596 1,494 1,524

Stormwater

Rainfall (inches) 44.56 65.03 67.32 55.28 54.01 64.83 57.08 38.60 58.81 47.29

Stormwater ditches/canals cleaned (linear feet) 62,708 54,400 58,956 74,813 112,948 71,469 138,993 70,997 106,394 81,804 Golf courses

Rounds of 9-hole golf (number) 181,167 83,183 88,403 101,920 91,990 93,857 112,765 106,221 95,795 109,990 Convention and Visitors Bureau

Bed tax receipts (gross dollars in thousands) 14,725 13,357 12,869 11,613 10,441 8,918 8,065 6,971 6,368 5,138 Civic Center

Events held (number) 291 274 295 321 294 298 245 250 284 295 Constitutional officers: Clerk of Circuit Court

Teen court participants (number) 234 280 296 381 409 425 356 518 576 611 Child support collections (dollars in thousands) 25,062 25,281 26,476 26,980 27,310 27,443 28,174 29,038 27,272 26,203 Pages recorded (number) 441,157 427,559 418,105 404,689 368,854 427,576 361,073 315,481 319,321 311,200 Documents recorded (number) 131,016 122,788 120,269 120,376 116,467 128,246 113,218 105,554 110,837 104,836

Tax Collector

Tax deeds sold (number) 23 18 42 26 67 30 77 27 25 12 Tax certificates sold (number) 3,466 3,216 3,575 3,641 3,976 4,205 5,097 5,661 7,250 7,989

Property Appraiser

Value Adjustment Board petitions filed (number) 533 741 558 552 485 336 378 545 771 1,154 Parcels in county (number) 213,036 205,601 202,877 200,346 205,213 204,860 204,346 203,295 203,600 203,403

Sheriff

Calls for service (number) 352,536 361,868 361,011 371,689 350,178 314,070 307,664 304,889 266,023 245,408 Arrests (number) 10,147 9,781 10,553 10,961 11,650 12,071 12,510 13,238 14,465 14,393 Law enforcement officers (number) 503 509 495 497 494 474 470 470 464 463 Corrections officers (number) 221 218 230 224 220 197 219 212 212 203 County residents per officer (number) (3) 521 507 491 474 473 497 480 475 471 496

Supervisor of Elections

Registered voters (thousands) 241 230 226 211 204 216 209 202 204 201 Polling places (number) 70 70 70 70 70 99 113 127 127 136

(1) County residents per employee is derived from total county population on page 116 and total county government employees on page 122.(2) DEP reporting for prior calendar year. Beginning with 2012 these statistics are estimates. (3) Residents per officer is derived from total county population on page 116 and includes law enforcement officers and corrections officers.

Manatee County, FloridaOperating Indicators by Function/Program - Continued


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2018 2017 2016 2015 2014 2013 2012 2011 2010 2009

General governmentFacilities owned/leased (sq. ft.) (1)(2)(4) 682,775 724,462 720,839 667,419 675,791 658,131 652,681 647,059 611,421 610,526 Libraries (sq. ft.) (5) 113,927 113,927 113,927 113,927 110,927 110,927 110,927 105,350 105,350 105,350 Library materials (units) 420,245 498,695 442,678 426,135 453,280 470,567 463,922 467,338 462,193 459,474 Judicial Center (sq. ft.) (7) 257,467 257,467 257,467 257,467 257,467 257,467 257,467 257,467 257,467 257,467 Historic Courthouse (sq. ft.) 90,175 90,175 90,175 90,175 90,175 90,175 90,175 90,175 90,175 90,175

Public safety

EMS units (number) 40 39 38 36 34 34 34 34 34 34 EMS stations (number) 19 19 19 18 17 17 17 17 17 17 Facilities owned/leased (sq. ft.) (8) 114,800 114,800 114,800 114,800 114,800 114,800 114,800 114,800 105,800 105,800

Physical environment

Protected lands (acres) 27,574 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 Beaches (miles) 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9

Transportation

Paved roads (center line miles) 1,384 1,384 1,373 1,389 1,367 1,364 1,358 1,350 1,344 1,344 Unpaved roads (center line miles) 64 64 65 65 65 68 70 80 79 82 Service vehicles (number) 1,364 1,368 1,365 1,335 1,335 1,323 1,326 1,326 1,340 1,345

Culture and recreation

Parks (acres) 1,602 1,670 1,670 1,670 1,670 1,670 1,670 1,670 1,670 1,670 Athletic fields (number) 114 92 92 92 95 92 92 92 92 92 Mobile stage (sq. ft.)(3) 504 504 504 504 - - - - - -

Water and sewer

Water plant storage capacity (millions of gals./day)(10) 32 32 32 32 32 32 32 32 32 22 Sewer plant processing capacity (millions of gals./day)(9) 34 33.5 33.5 33.5 33.5 33.5 33.5 33.5 33.5 40.5

Solid waste

Open landfill capacity (acres) 286 286 286 286 286 286 286 286 286 286 Used landfill capacity (percentage) 57% 56% 54% 54% 53% 51% 50% 49% 47% 46%Permanently closed landfill (acres) 30 30 30 30 30 30 30 30 30 30

Transit

Vehicles-bus/para/trolley (number) 74 72 70 65 59 58 58 64 67 67 Port Authority

Ground space (acres) 1,106 1,106 1,106 1,106 1,106 1,106 1,106 1,106 1,106 1,106 Berthing space (linear feet) 7,243 7,243 7,243 7,243 7,243 6,899 6,899 6,899 6,702 6,702 Covered chill storage space (sq. ft.) 207,000 207,000 207,000 207,000 207,000 207,000 207,000 207,000 202,000 202,000 Covered storage space (sq. ft.) 1,109,515 1,109,515 1,109,515 1,109,515 1,109,515 1,109,515 1,109,515 1,109,515 1,109,478 1,109,478

(Continued)

Manatee County, FloridaCapital Assets by Function/Program


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2018 2017 2016 2015 2014 2013 2012 2011 2010 2009

Golf courses Two 18 hole courses (acres) 297 297 297 297 297 297 297 297 297 297 Civic center Civic center leaseable facilities (sq. ft.) 65,000 65,000 65,000 65,000 65,000 65,000 65,000 65,000 65,000 65,000 Crosley Estate facilities (sq. ft.) 11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 11,500 Mobile stage (sq. ft.)(3) - - - - 504 504 504 504 504 504 Constitutional officers: Clerk of Circuit Court Facilities - owned/leased (sq. ft.) (6) 5,769 5,769 5,769 5,769 5,769 21,921 21,921 39,900 39,900 70,110 Facilities (number) 1 1 1 1 1 2 2 6 6 6 Property Appraiser Facilities - owned/leased (sq. ft.) (4) 21,626 21,626 21,626 21,626 21,626 13,787 13,787 13,787 13,787 13,787 Facilities (number) 1 1 1 1 1 1 1 1 1 1 Tax Collector Facilities - owned/leased (sq. ft.) 37,936 35,047 35,047 35,047 35,047 35,047 35,047 35,047 33,487 33,487 Facilities (number) 5 4 4 4 4 4 4 4 4 4 Sheriff Patrol vehicles (number) 417 384 369 316 299 289 313 317 315 320 Facilities - owned/leased (sq. ft.) (2) 663,674 663,674 666,337 666,337 652,754 644,754 644,754 632,954 632,954 614,035 Facilities - owned/leased (number) 5 5 6 6 6 6 6 6 6 6 Supervisor of Elections Facilities - owned/leased (sq. ft.) (2) 20,665 20,665 25,655 25,655 28,230 25,611 25,611 25,611 25,611 25,611 Facilities (number) 1 1 2 2 2 2 2 2 2 2

(1) In 2018, the Natural Resources Bldg on 6th Ave was renovated for the MEEMS (Medical Examiner & EMS Station #16) Bldg.(2) In 2017, the Sheriff transferred District III building to General Government and the Supervisor of Elections' warehouse lease expired. (3) In 2015, the mobile stage was transferred from Civic Center to Manatee Parks and Natural Resources.(4) In 2014, the Natural Resources department vacated approximately 7,839 square feet of space, reclassifed to Property Appraiser.(5) In 2012, the Rocky Bluff library relocated and increased by 5,577 square feet. In 2015, approximately 3,000 square feet of a vacant warehouse was remodeled

as the Central Library Annex.(6) 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.(7) In 2012, the Judicial Center was reclassified under General Government. (8) In 2011, a newly constructed Marine Rescue building was included under Public Safety. (9) The 2010 regulatory permit reduced the sewer plant processing capacity by 7 million gallons per day.(10) In 2010, a new 10 million gallon storage tank was put into service at the water plant.

Manatee County, FloridaCapital Assets by Function/Program - Continued


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2018 2017 2016 2015 2014 2013 2012 2011 2010 2009

General government 353 353 342 334 318 317 311 309 329 350Public safety 383 354 336 326 313 307 293 285 300 305Physical environmental 100 95 100 93 95 83 92 91 92 96Transportation 145 146 161 154 157 160 147 150 150 161Economic environment 48 36 38 35 34 30 32 32 32 29Human services 49 48 49 45 43 45 43 46 47 50Culture and recreation 173 163 166 171 164 166 164 155 160 173Water and sewer 374 372 371 375 367 369 363 367 372 378Port Authority 76 74 69 73 75 72 74 79 80 76Transit 141 128 120 116 112 112 109 100 101 104Stormwater 58 51 34 33 33 31 33 27 26 24Golf courses - - - - - - - 35 35 38Civic center 44 38 49 40 37 35 42 58 76 80 Total county government 1,944 1,858 1,835 1,795 1,748 1,727 1,703 1,734 1,800 1,864

Constitutional Officers: Clerk of Court 235 234 239 250 269 271 271 273 276 281 Property Appraiser 59 59 58 55 53 51 51 51 51 49 Tax Collector 111 109 104 105 99 100 105 99 91 78 Sheriff 1,176 1,180 1,149 1,138 1,120 1,092 1,095 1,096 1,072 1,067 Supervisor of Elections 15 15 16 19 18 16 21 21 20 21 Total government-wide employees by function 3,540 3,455 3,401 3,362 3,307 3,257 3,246 3,274 3,310 3,360

Source: Manatee County Government

Manatee County, FloridaFull-time Equivalent Government-wide Employees by Function


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New Collections Total New Collections TotalFiscal Liens and Outstanding Liens and OutstandingYear Assessed Adjustments Assessments Assessed Adjustments Assessments

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

2015 - 141 283 - 59 224

2016 - 114 169 - 46 178

2017 - 90 79 - 32 146

2018 - 23 56 - 27 119

Paving Sewer

Manatee County, FloridaSpecial Assessment Collections


-123-

AnnualName and Title of Official Salary (1)

Board of County Commissioners:

Priscilla Whisenant Trace - Chairman $ 85,165 Robin DiSabatino - First Vice-Chairman 85,165 Carol Whitmore - Second Vice-Chairman 85,165 Charles Smith - Third Vice-Chairman 85,165 Vanessa Baugh - Member 85,165 Betsy Benac - Member 85,165 Stephen Jonsson - Member 85,165

Angelina Colonneso - Clerk of Circuit Court and Comptroller 146,925

Rick Wells - Sheriff 156,323

Michael Bennett - Supervisor of Elections 146,925

Charles Hackney - Property Appraiser 146,925

Ken Burton, Jr. - Tax Collector 146,925

Source: Manatee County Government

(1) Office of Economic and Demographic Research, State of Florida

Manatee County, FloridaSalaries of Principal Officials

September 30, 2018

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General GeneralObligation Obligation

Fiscal Refunding RefundingYear Bonds 2003 (3) Bonds 2014 (4)

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

2015 - 1,825 0.007% 5.35

2016 - 1,235 0.004% 3.47

2017 - 635 0.002% 1.72

2018 - - - -

(1) Refer to page 110 for Total Net Taxable Assessed Value of Property.(2) Refer to page 116 for population data.(3) In Fiscal Year 2014, the General Obligation Refunding Bonds 2003 were refunded by the General Obligation Refunding Bonds 2014.(4) In Fiscal Year 2018, the final payment was made on the General Obligation Refunding Bonds 2014.

Percentage ofNet Taxable

Value of

PerCapita

(expressed

Manatee County, FloridaRatio of General Bonded Debt


in dollars) (2)Property (1)

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Ratio of DebtService to

Other Total General GeneralTax Debt Debt Government Government

Year Principal Interest Service Service (1) Expenditures Expenditures

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%

2015 13,079 4,813 105 17,997 335,836 5.36%

2016 13,811 4,839 190 18,840 347,164 5.43%

2017 16,735 4,570 48 21,353 367,042 5.82%

2018 33,941 4,377 58 38,376 409,904 9.36%

(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


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Federal Net RevenueFiscal Gross Direct AvailableYear Revenue (1) Payments (2) Expenses (3) Debt Service (2) Principal Interest Total Coverage

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(4) 145,686 1,752 104,907 42,531 7,050 7,396 14,446 2.94

2015 153,726 1,750 109,517 45,959 9,037 6,716 15,753 2.92

2016 168,263 1,759 116,682 53,340 7,610 9,910 17,520 3.04

2017(5) 177,306 1,757 114,548 64,515 7,765 9,578 17,343 3.72

2018 187,448 1,763 132,204 57,007 8,095 9,245 17,340 3.29

(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 included in the coverage test for fiscal year 2013.

(3) "Expenses" exclude depreciation of capital assets and amortization of deferred charges which are reflected as expenses in the financial statements. (4) Certain fiscal year 2014 balances have been restated due to the implementation of GASB Statement 68.

(5) Certain fiscal year 2017 balances have been restated due to the implementation of GASB Statement 75.

Debt Service Requirement

Manatee County, Florida Manatee County Public Utilities System

Schedule of Revenue Bond Coverage Last Ten Fiscal Years


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MaximumNet Revenue Annual Debt Annual Debt

Fiscal Gross Available Service ServiceYear Revenue (1) Expenses (2) Debt Service Requirement Requirement (3) Coverage (4)

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(5) 11,512 8,213 3,299 - 2,244 1.47

2015 10,734 6,781 3,953 - 2,247 1.76

2016 12,633 7,461 5,172 - 2,247 2.30

2017(6) 14,346 7,400 6,946 - 2,245 3.09

2018 16,685 8,530 8,155 - 2,247 3.63

(1) "Gross Revenue" shall mean all rates, fees, charges, assessments or other income received by the County or accrued to the County or

(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 (5) Certain fiscal year 2014 balances have been restated due to the implementation of GASB Statement 68.


agency thereof in control of the management and operation of said Port Authority.

Manatee County, FloridaManatee County Port Authority

Schedule of Revenue Bond CoverageLast Ten Fiscal Years


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Excess (Deficit)Net Revenue Debt Service Revenue Debt Service

Fiscal Available Requirements Available RequirementsYear Debt Service (1) Senior Debt (2) Debt Service SIB Loans

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(4) 2,852 2,244 608 275 2.21 2015 3,506 2,247 1,259 275 4.58 2016 4,725 2,247 2,478 275 9.01 2017(5)(6) 6,499 2,245 4,254 544 7.82 2018 7,708 2,247 5,461 544 10.04

(5) Beginning fiscal year 2017, SIB loans includes both the 2007 and the 2017 loans.

(1) "Net Revenue Available Debt Service" shall include all rates, fees, charges, or other income, received or accrued by the Port Authority from the operation thereof but shall not include (a) sales tax funds, (b) non-ad valorem revenues, (c) restricted grants or donations, (d) revenues received from or in connection with Special Purpose Facilities financed with Special Purpose Bonds and (e) capital contributions. "Net Revenue Available Debt Service" is reduced for "Operating Expenses" which includes the current expenses, paid or accrued, of operation, maintenance and ordinary repairs of the Port

(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 the Manatee County Port Authority Revenue Refunding Bonds, Series 1993B, 2002A and 2002B and various loans with the Florida Local Government Finance Commission.

(3) The Port Authority has covenanted in the SIB loan agreement that net revenues available after payment of all senior and parity debt be at least equal to one hundred percent of the sum of the SIB loan payments due in each fiscal year.



Schedule of State Infrastructure Bank (SIB) Loan CoverageLast Ten Fiscal Years


Coverage (3)


and the Port Facilities but shall not include any allowance for depreciation.

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Debt ServiceNet Resources Debt Service Debt Service Requirements Total Annual

Fiscal Available Requirements Requirements 2014A and 2014B Debt ServiceYear Debt Service (1) Senior Debt (2) SIB Loans (4) Revenue Notes Requirement Coverage (3)

2015 $ 3,953 $ 2,247 $ 275 $ 357 $ 2,879 1.37 2016 5,172 2,247 275 360 2,882 1.79 2017(5) 9,497 2,245 544 357 3,146 3.02 2018 15,563 2,247 544 356 3,147 4.95

(1) "Net Resources Available Debt Service" shall include all rates, fees, charges, or other income received or accrued by the Port Authority from the operation thereof, but shall not include (a) non-ad valorem revenues, (b) restricted grants or donations, (c) revenues received from or in connection with Special Purpose Facilities financed with Special Purpose Bonds and (d) capital contributions, reduced for "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 allowance for depreciation, plus unrestricted net assets in each fiscal year of the Authority. Notwithstanding the foregoing, sales tax funds are not pledged to pay debt service on the Notes.

(2) "Senior Debt" includes Manatee County Port Authority Revenue Refunding Bonds, Series 2012A and 2012B.

(3) The Port Authority has covenanted in the 2014A and 2014B Revenue Note loan agreement that net resources available after payment of all senior debt, SIB loan, the subordinate parity debt and the notes be at least equal to one hundred and five percent of the annual debt service.

(4) Beginning fiscal year 2017, SIB loans include both the 2007 and 2017 loans.



Schedule of 2014A and 2014B Revenue Note Loan Coverage Last Four Fiscal Years


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Revenue ManateeRefunding and Revenue Revenue Revenue CountyImprovement Revenue Improvement Improvement Refunding and School Board Total

Fiscal Bonds, Improvement Bonds, Bonds, Improvement Infrastructure Annual DebtYear Series 2013 Note, 2013 Series 2014 Series 2016 Note, 2018 Loan, 2018 Service (1)

2019 $ 12,604 $ 393 $ 502 $ 5,061 $ 36,400 $ - $ 54,9602020 12,782 402 518 5,056 - - 18,7582021 8,865 415 395 2,783 - - 12,4582022 3,177 428 407 2,784 - 820 7,6162023 3,179 443 419 2,785 - 690 7,5162024 3,181 456 432 2,784 - 678 7,5312025 3,176 469 445 4,253 - - 8,3432026 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 $ 59,132 $ 7,169 $ 7,615 $ 25,506 $ 36,400 $ 2,188 $ 138,010

(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, 2018


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2018 2017 2016 2015 2014

Permit fees $ 827 $ 771 $ 781 $ 720 $ 484State revenue sharing (1) 9,957 9,388 8,884 8,543 7,797Sheriff program reimbursements 204 191 105 105 97Mobile home licenses 274 273 281 272 276Communication service tax 3,324 3,300 3,307 3,316 3,8171/2 Cent sales tax 26,580 25,401 24,445 23,250 23,671Infrastructure sales surtax 25,225 17,438 - - - Planning and zoning fees 4,109 3,347 3,354 3,319 2,970Elected officials excess fees 6,430 7,001 6,298 5,910 6,099Interest 2,266 1,211 905 678 446Charges for services 16,156 17,161 20,420 19,513 17,090Payments in lieu of taxes & franchise fees 11,567 11,131 10,594 10,039 9,685Tax increment refund - - - 1,162 1,064Road assessments 18 42 51 59 72Indirect cost recovery 11,903 11,045 11,863 11,284 9,963Miscellaneous 8,624 5,343 3,879 5,486 3,819Non-revenue interfund transfers 4,087 6,887 6,096 9,464 6,175 Subtotal 131,551 119,930 101,263 103,120 93,525Fines & forfeitures (2) 1,717 1,622 1,572 1,502 2,358Gas taxes (3) 21,391 21,437 20,855 19,776 18,333Legally available revenues before General Operating & Maintenance Expense (O&M) 154,659 142,989 123,690 124,398 114,216Less General O&M not supported by Ad Valorem taxes (4) 103,692 101,673 101,714 102,884 95,046Net legally available revenues for debt service 50,967 41,316 21,976 21,514 19,170Beginning fund balances: (5)

General fund 83,875 81,539 66,252 69,810 74,194 Transportation trust fund 25,547 24,566 22,690 24,624 26,014Total net legally available funds available for non-ad valorem commitments 160,389 147,421 110,918 115,948 119,378Less non-ad valorem commitments: (6)

2004 Transportation Revenue Refunding and Improvement Bonds - - - - 2,940 2004 Revenue Improvement Bonds - - - - 1,651 2006 Revenue Improvement Bonds - - 4,463 4,465 4,463 2010 Revenue Refunding Bonds - 1,719 1,720 1,712 2,568 2013 Revenue Refunding and Improvement Bonds 12,582 12,779 8,126 8,123 3,719 2013 Revenue Improvement Note 380 368 357 345 220 2014 Revenue Improvement Bonds 444 481 472 287 - 2016 Revenue Improvement Bonds 5,061 5,059 2,631 - - 2016 Revenue Improvement Note (8) 18,738 203 68 - - 2018 Revenue Refunding and Improvement Note (8) 297 - - - -

Total net legally available funds for debt service and net position (7) $ 122,887 $ 126,812 $ 93,081 $ 101,016 $ 103,817

(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) Only the Unassigned Fund Balance portion of the General fund and the Assigned Fund Balance of the Transportation Trust Fund are in the Beginning Balances.(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) 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.(8) In FY2018 the 2016 Revenue Improvement Note was paid off and the 2018 Revenue Improvement Note was added.

Manatee County, FloridaNon-Ad Valorem Revenues Legally Available to Pay

Debt Service on Certain Bonds and Other IndebtednessLast Five Fiscal Years


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RevenueRefunding and Revenue RevenueImprovement Improvement ImprovementSeries 2013 Series 2014 Series 2016

Original authorization $ 79,640 $ 6,482 $ 35,295Unissued - - - Issued 79,640 6,482 35,295Retirements 30,025 863 11,360 Refunded - - - Balance outstanding $ 49,615 $ 5,619 $ 23,935

Date of issue March 6, 2013 May 23, 2014 March 23, 2016Principal payment date October 1 January 1 September 30Interest payment dates April-October January March-SeptemberDenominations (amounts not rounded) $5,000 $1,000

5.00% Maturity 3.69% Maturity 1.74% MaturityInterest rates 2019-2027 2019-2034 2019-2025

3.00% Maturity2028-2029

Effective interest cost rate 1.9806% 3.6895% 1.7410%

Call feature 2023-Maturity 100 2019-Maturity 100 2025-Maturity 100

Paying agent Regions Bank Manatee County Manatee CountyOrlando, FL Florida Florida

N/A

Manatee County, FloridaBond Issues - Description


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Revenue RevenueRefunding Refunding

Series 2012A Series 2012BOriginal authorization $ 6,605 $ 33,730Unissued - - Issued 6,605 33,730Retirements 1,590 3,735Balance outstanding $ 5,015 $ 29,995

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 3.00% Maturity 2.00% Maturity2019 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%

Port Authority Bonds

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Revenue Revenue Revenue RevenueImprovement Improvement Improvement RefundingSeries 2010A Series 2010B Series 2010C Series 2011

Original authorization $ 17,925 $ 45,300 $ 6,720 $ 22,650Unissued - - - - Issued 17,925 45,300 6,720 22,650Retirements - - 3,960 10,080 Refunded - - - - Balance outstanding $ 17,925 $ 45,300 $ 2,760 $ 12,570

Date of issue December 14, 2011Principal payment date October 1 October 1 October 1 October 1Interest payment dates April-October April-October April-October April-OctoberDenominations (amounts $5,000 $5,000 $5,000 $5,000 not rounded)

Interest rates 5.951% Maturity 7.178% Maturity 4.00%-5.00% Maturity 5.00% Maturity2019-2020 2019-2030 2019 2019-20236.151% Maturity 7.378% Maturity2021 2031-20356.351% Maturity20226.551% Maturity20236.701% Maturity20246.801% Maturity2025

Effective interest cost rate 4.1890% 4.0116% 3.6261% 2.6571%

Call feature 2020-Maturity 100 2020-Maturity 100 N/A N/A

Paying agent US Bank US Bank US Bank Bank of New YorkNew York, NY New York, NY New York, NY Jacksonville, FL



December 29, 2010

Public Utilities System Bonds

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RevenueRefunding & Revenue RevenueImprovement Refunding ImprovementSeries 2015 Series 2017 Series 2018

Original authorization $ 91,485 $ 55,075 $ 74,695Unissued - - - Issued 91,485 55,075 74,695Retirements 6,440 - - Refunded - - - Balance outstanding $ 85,045 $ 55,075 $ 74,695

Date of issue April 22, 2015 December 28, 2017 September 20, 2018Principal 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 5.00% Maturity 5.00% Maturity 5.00% Maturity2019-2029 2021-2032 2022-20273.00% Maturity 4.00% Maturity 3.00% Maturity2030 2033-2035 20285.00% Maturity 4.00% Maturity2031-2033 20294.00% Maturity 3.00% Maturity2034-2039 2030

3.125% Maturity20313.250% Maturity20323.375% Maturity20333.50% Maturity2034-20373.625% Maturity2038-20403.50% Maturity2041-20453.625% Maturity2046-2048

Effective interest cost rate 3.1149% 2.4327% 3.4945%

Call feature 2025-Maturity 100 2027-Maturity 100 2028-Maturity 100

Paying agent Hancock Bank US Bank Hancock Whitney BankOrlando, FL New York, NY Baton Rouge, LA



September 30, 2018

Public Utilities System Bonds

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FiscalFiscal Year Principal Interest Total

2019 $ 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

$ 49,615 $ 9,517 $ 59,132

Revenue Refunding and Improvement Bonds, Series 2013

Manatee County, FloridaSchedule of Debt Service Requirements


-137-


2019 $ 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

$ 5,619 $ 1,996 $ 7,615


2019 $ 4,645 $ 416 $ 5,0612020 4,720 336 5,0562021 2,530 253 2,7832022 2,575 209 2,7842023 2,620 165 2,7852024 2,665 119 2,7842025 4,180 73 4,253

$ 23,935 $ 1,571 $ 25,506

Revenue Improvement Bonds, Series 2016



Revenue Improvement Bonds, Series 2014

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FiscalYear Principal Interest Total Principal Interest Total2019 $ 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

$ 5,015 $ 1,202 $ 6,217 $ 29,995 $ 17,684 $ 47,679

Series 2012A Bonds$33,730

Series 2012B Bonds

Port Authority Revenue Refunding Bonds


(Amounts expressed in thousands)September 30, 2018

$6,605

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FiscalYear Principal Interest Total Principal Interest Total Principal Interest Total2019 $ - $ 1,150 $ 1,150 $ - $ 3,300 $ 3,300 $ 2,760 $ 124 $ 2,8842020 2,880 1,150 4,030 - 3,300 3,300 - - - 2021 2,995 978 3,973 - 3,300 3,300 - - - 2022 3,115 794 3,909 - 3,300 3,300 - - - 2023 3,240 596 3,836 - 3,300 3,300 - - - 2024 3,380 384 3,764 - 3,300 3,300 - - - 2025 2,315 157 2,472 1,210 3,300 4,510 - - - 2026 - - - 3,675 3,213 6,888 - - - 2027 - - - 3,820 2,950 6,770 - - - 2028 - - - 3,975 2,675 6,650 - - - 2029 - - - 4,130 2,390 6,520 - - - 2030 - - - 4,295 2,094 6,389 - - - 2031 - - - 4,460 1,785 6,245 - - - 2032 - - - 4,645 1,456 6,101 - - - 2033 - - - 4,830 1,113 5,943 - - - 2034 - - - 5,030 757 5,787 - - - 2035 - - - 5,230 386 5,616 - - -

$ 17,925 $ 5,209 $ 23,134 $ 45,300 $ 41,919 $ 87,219 $ 2,760 $ 124 $ 2,884

Series 2010C Bonds$6,720

Series 2010A Bonds Series 2010B Bonds$17,925 $45,300

Public Utilities System Revenue Improvement Bonds



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FiscalYear Principal Interest Total Principal Interest Total2019 $ 2,275 $ 629 $ 2,904 $ 3,415 $ 3,694 $ 7,1092020 2,385 515 2,900 3,590 3,523 7,1132021 2,510 395 2,905 3,765 3,344 7,1092022 2,635 270 2,905 - 3,156 3,1562023 2,765 138 2,903 - 3,156 3,1562024 - - - 1,450 3,156 4,6062025 - - - 1,605 3,083 4,6882026 - - - 1,780 3,003 4,7832027 - - - 1,990 2,914 4,9042028 - - - 2,205 2,814 5,0192029 - - - 2,450 2,704 5,1542030 - - - 2,700 2,582 5,2822031 - - - 2,925 2,501 5,4262032 - - - 3,215 2,354 5,5692033 - - - 3,535 2,193 5,7282034 - - - 3,865 2,017 5,8822035 - - - 4,195 1,862 6,0572036 - - - 9,975 1,694 11,6692037 - - - 10,375 1,295 11,6702038 - - - 10,790 880 11,6702039 - - - 11,220 449 11,669

$ 12,570 $ 1,947 $ 14,517 $ 85,045 $ 52,374 $ 137,419

Public Utilities System Revenue Refunding Bonds


(Amounts expressed in thousands)September 30, 2018

Public Utilities System Revenue Refunding & Improvement Bonds

$91,485Series 2015 BondsSeries 2011 Bonds

$22,650

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FiscalYear Principal Interest Total Principal Interest Total2019 $ - $ 2,611 $ 2,611 $ - $ 2,859 $ 2,859 2020 - 2,611 2,611 - 2,774 2,774 2021 2,645 2,611 5,256 - 2,774 2,774 2022 2,770 2,479 5,249 1,590 2,774 4,364 2023 2,900 2,341 5,241 1,670 2,695 4,365 2024 3,045 2,196 5,241 1,750 2,611 4,361 2025 3,085 2,044 5,129 1,840 2,524 4,364 2026 3,240 1,889 5,129 1,930 2,432 4,362 2027 3,400 1,727 5,127 2,025 2,335 4,360 2028 3,575 1,557 5,132 2,130 2,234 4,364 2029 3,755 1,379 5,134 2,195 2,170 4,365 2030 3,945 1,191 5,136 2,280 2,082 4,362 2031 4,135 993 5,128 2,350 2,014 4,364 2032 4,345 787 5,132 2,420 1,940 4,360 2033 4,560 569 5,129 2,500 1,862 4,362 2034 4,745 387 5,132 2,585 1,777 4,362 2035 4,930 197 5,127 2,675 1,687 4,362 2036 - - - 2,770 1,593 4,363 2037 - - - 2,865 1,496 4,361 2038 - - - 2,965 1,396 4,361 2039 - - - 3,075 1,288 4,363 2040 - - - 3,185 1,177 4,362 2041 - - - 3,300 1,061 4,361 2042 - - - 3,415 946 4,361 2043 - - - 3,535 826 4,361 2044 - - - 3,660 703 4,363 2045 - - - 3,790 575 4,365 2046 - - - 3,920 442 4,362 2047 - - - 4,065 300 4,365 2048 - - - 4,210 153 4,363

$ 55,075 $ 27,569 $ 82,644 $ 74,695 $ 51,500 $ 126,195



Public Utilities System Revenue Refunding Bonds Public Utilities System Revenue Improvement Bonds

$55,075 $74,695Series 2017 Bonds Series 2018 Bonds

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FiscalYear Principal Interest Total2019 $ 197 $ 196 $ 3932020 214 188 4022021 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

$ 5,375 $ 1,794 $ 7,169

Interest is calculated at 3.67%.

FiscalYear Principal Interest Total Principal Interest Total2019 $ 104 $ 3 $ 107 $ 295 $ 56 $ 351 2020 - - - 303 48 351 2021 - - - 313 38 351 2022 - - - 324 27 351 2023 - - - 334 17 351 2024 - - - 337 6 343

$ 104 $ 3 $ 107 $ 1,906 $ 192 $ 2,098

Interest is calculated at 3.14%. Interest is calculated at 3.15%.

Port Authority Revenue Notes

Series 2014A Notes Series 2014B Notes



Revenue Improvement Note 2013General Government

-143-

FiscalYear Principal Interest Total2019 $ 237 $ 38 $ 2752020 242 33 2752021 246 29 2752022 251 24 2752023 256 19 2752024 262 13 2752025 267 8 2752026 146 3 149

$ 1,907 $ 167 $ 2,074

FiscalYear Principal Interest Total2019 $ 196 $ 72 $ 2682020 203 66 2692021 208 60 2682022 215 54 2692023 221 48 2692024 227 42 2692025 234 35 2692026 241 28 2692027 248 21 2692028 255 14 2692029 217 6 223

$ 2,465 $ 446 $ 2,911

Interest is calculated at the rate of 2.92% per annum on the unpaid principal.



Florida Department of Transportation

Interest is calculated at the rate of 2.00% per annum on the unpaid principal.

Florida Department of Transportation2007 State Infrastructure Bank Loan - Port Authority

2017 State Infrastructure Bank Loan - Port Authority

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Fiscal

Year Principal Interest Total

2019 $ 36,000 $ 400 $ 36,400

Fiscal

Year Principal Interest Total

2019 $ - $ - $ - 2020 - - - 2021 - - - 2022 667 153 820 2023 667 23 690 2024 666 12 678

$ 2,000 $ 188 $ 2,188

Interest is calculated at the rate of 1.74%

2018 Manatee County School Board Infrastructure Loan

Interest is calculated at the rate of 2.09%

Revenue Refunding and Improvement Note, Series 2018



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Single Audit & Grants Compliance

Evelyn Gobbie, 1921-1982Evelyn Gobbie was born in England but spent much of her childhood in the United States. She returned to London during World War II to work in the Signal Corp for the Royal Air Force Bomber Squadron. Professionally, she served locally as a lawyer, was the first woman to join the Manatee County Bar Association, and became Sarasota’s Chief Municipal Judge in 1967. Along with Roberta Knowles, she is credited with helping to break the glass ceiling for Manatee County women in law.


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, 2018, and the related notes to the financial statements, which collectively comprise the County’s basic financial statements, and have issued our report thereon dated March 29, 2019. 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 County’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.

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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 County’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 County’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

Carr, Riggs, & Ingram, LLC

Bradenton, Florida March 29, 2019

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INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM AND STATE PROJECT AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE AND CHAPTER 10.550, RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA 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’s (the “County”) compliance with the types of compliance requirements described in the OMB 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, 2018. 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 statutes, regulations, contracts, and the terms and conditions of 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; the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and Chapter 10.550, Rules of the Auditor General for Local Governmental Entity Audits. Those standards, the Uniform Guidance and Chapter 10.550 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.

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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. Unmodified 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 identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs for the year ended September 30, 2018. 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 the Uniform Guidance 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 and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exists that were not identified. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, we did identify a certain deficiency in internal controls over compliance, described in the accompanying schedule of findings and questioned costs as item 2018-001 that we consider to be a significant deficiency.

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The County’s response to the internal control over compliance findings identified in our audit is described in the accompanying schedule of findings and questioned costs. The County’s response was not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on the response. 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 the Uniform Guidance and the Chapter 10,550. Accordingly, this report is not suitable for any other purpose. Carr, Riggs, & Ingram, LLC Bradenton, Florida March 29, 2019

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Federal/State Agency, AmountPass-through Entity CFDA Contract Total Provided toFederal Program/State Project Number Grant Number Expenditures Subrecipients

Department of Health and Human Services:Passed through Florida Department of Revenue:

Child Support Enforcement SFY17/18 93.563 CSLM3 (Amd #4) 1,675,819 - Child Support Enforcement SFY18/19 93.563 CSLM3 (Renewal 1 of 1) 539,168 - Title IV-D Cooperative Agreement FY14/19 93.563 COC41 274,755 -

Total program 2,489,742 -

Passed through Florida Department of Elder Affairs and theSenior Connection Center:Emergency Home Energy Assistance Program Funds FY17/18 93.568 EH-17/18-MAN 62,069 - Emergency Home Energy Assistance Program Funds FY18/19 93.568 EH-18/19-MAN - * -

Total program 62,069 -

Passed through Florida Department of Children and Families:Child Protective Investigations FY17/18 93.658 QJZ72 (Amd #1) FY17/18 - * - Child Protective Investigations FY18/19 93.658 QJZ72 (Amd #2) FY18/19 - * -

Total program - -

Child Protective Investigations FY17/18 93.667 QJZ72 (Amd #1) FY17/18 554,302 - Child Protective Investigations FY18/19 93.667 QJZ72 (Amd #2) FY18/19 216,657 -


Child Protective Investigations FY17/18 93.558 QJZ72 (Amd #1) FY17/18 2,382,419 - Child Protective Investigations FY18/19 93.558 QJZ72 (Amd #2) FY18/19 929,827 -


Child Protective Investigations FY17/18 93.U01 QJZ72 (Amd #1) FY17/18 850,900 - Child Protective Investigations FY18/19 93.U01 QJZ72 (Amd #2) FY18/19 168,697 -

Total program 1,019,597 - Total Department of Health and Human Services 7,654,613 -

Election Assistance Commission:Passed through Florida Department of State:

Federal Election Activities FY16/17 90.401 MOA#2016-2017-0001-MAN 17,150 - Federal Election Activities FY17/18 90.401 MOA#2017-2018-0001-MAN - * - Help America Vote Act Requirements Payments (Cybersecurity) 90.401 MOA#2018-2019-0001-MAN 54,676 -

Total Election Assistance Commission 71,826 -

Environmental Protection Agency:Direct Program:

Brownfields Assessment: Hazardous Substances 66.818 BF00D32615 203,383 - Brownfields Assessment: Petroleum 66.818 BF00D32615 134,418 -

Total Environmental Protection Agency 337,801 -

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**See Single Audit Notes - Prior Year Expenses for CFDA 97.036The accompanying notes are an integral part of this schedule.

(Continued)

Manatee County, FloridaSchedule of Expenditures of Federal Awards

and State Financial AssistanceFor the Fiscal Year Ended September 30, 2018

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Department of Transportation:Direct Programs:

Federal Transit Administration:Federal Transit Capital Investment Grant 20.500 FL04-012100/FM#4045991 1,880 - Investment Formula Grants - FTA 5307 20.507 FL90-0790/FM#410148-1-94-13 192,821 - Investment Formula Grants - FTA 5307 20.507 FL90-X808-00/FM#410148-1-94-14 68,148 - Investment Formula Grants - FTA 5307 20.507 FL90-X859-00/FM#410148-1-94-15 686,768 - Investment Formula Grants - FTA 5307 20.507 FL-2016-013-00/FM#410148-1 639,184 - Investment Formula Grants - FTA 5307 20.507 FL-2016-021-00/FM#410148-1-94-16 750,098 - Investment Formula Grants - FTA 5307 20.507 FL-2017-111-00/FM#410148-1-94-18 2,822,793 - Investment Formula Grants - FTA 5307 20.507 FL-2018-102-00/FM#410148-1-94-18 - * - Sect 5339 Bus and Bus Facilities Formula Grant FY15-17 20.526 FL34-0023-00/FM#434517-2-94-01/02 286 - Sect 5339 Bus and Bus Facilities Formula Grant FY15-19 20.526 FL34-0041-02/FM# 434517-2-94-03 44,391 - Sect 5339 Bus and Bus Facilities Formula Grant FY16-19 20.526 FL2016-025-00/FM#43451729401/02 130,862 - Sect 5339 Bus and Bus Facilities Formula Grant FY17-20 20.526 FL2016-037-00/FM#434517-2 221,577 - Sect 5339 Bus and Bus Facilities Formula Grant FY18-22 20.526 FL2018-052-00/FM#434517-2 43,205 - Sect 5339 Bus and Bus Facilities Formula Grant FY18-22 20.526 FL2018-101-00/FM#434517-2-94-05 - * -

Total Federal Transit Grants Cluster 5,602,013 -

Passed through Florida Department of Transportation:Sect 5310 Enhanced Mobility of Seniors FY14/17 (Capital) 20.513 FL-16-0039 (Amd) 95,044 - Sect 5310 Enhanced Mobility of Seniors FY16/20 (Capital) 20.513 FL-16-0040 - * - Sect 5310 Enhanced Mobility of Seniors FY16/17 (Capital) 20.513 FL-16-0041 187,026 - Sect 5310 Enhanced Mobility of Seniors FY17/18 (Capital) 20.513 FL-16-0042/FM#435210-1-93-34 - * - Sect 5310 Enhanced Mobility of Seniors FY17/18 (Operating) 20.513 G0U90/FP#48959-1-84-1001-2017-9 - * -


Passed through Florida Department of Transportation:Highway Planning and Construction Programs:

Local Agency Program 20.205 FPN436954-1-38-01/G0D60 311,990 - Local Agency Program 20.205 FPN440324-3-38-01/G0Y50 - * -

Sarasota/Manatee Metropolitan Planning Organization:Metro Planning Program (G0B55) 20.205 PL-0264(54M)FPN43931511401 FY18 642,830 - Metro Planning Program (SU Funds) 20.205 FPN43931511402/G0B55 FY17/18 117,600 - Metro Planning Program (G0Y74) 20.205 PL-0264(56)FPN43931521401 FY19 232,950 -

Total Highway Planning and Construction Cluster 1,305,370 -

Sarasota/Manatee Metropolitan Planning Organization:FTA Section 5303-Metropolitan Planning Grant 20.505 FM#410117-1-14-25/G0616 - * - FTA Section 5303-Metropolitan Planning Grant 20.505 FM#410117-1-14-26/G0616 225,850 - FTA Section 5303-Metropolitan Planning Grant 20.505 FM#410117-1-14-27/G0616 - * -

Total program 225,850 - Passed through Florida Department of Transportation:

Highway Research and Development Program 20.200 FP#438870-1-58-01/G0D59 230,719 - Total Department of Transportation 7,646,022 -

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**See Single Audit Notes - Prior Year Expenses for CFDA 97.036The accompanying notes are an integral part of this schedule. (Continued)

Manatee County, FloridaSchedule of Expenditures of Federal Awardsand State Financial Assistance - Continued


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Department of Justice:Passed through Florida Department of Legal Affairs:

VOCA Victim Assistance FY16/17 16.575 VOCA-2016-Manatee Co Sheriff's 00365 - * - VOCA Victim Assistance FY17/18 16.575 VOCA-2017-Manatee Co Sheriff's 00065 204,157 -


Direct Program:Byrne Memorial Justice Assistance Grant (JAG) FY16-19 16.738 2016-DJ-BX-0345 16,251 - Byrne Memorial Justice Assistance Grant (JAG) FY17-20 16.738 2017-DJ-BX-0890 113,322 -

Passed through Florida Department of Law Enforcement:Byrne Memorial Justice Assistance Grant (JAG) FY17 16.738 2017-JAGC-MANA-2-F9-042 4,794 -

Total Edward Byrne Memorial Justice Assistance Cluster 134,367 -

Direct Program:Bureau of Justice Assistance:

Paul Coverdell Forensic Sciences Improvement Grant Program 16.742 2016-CD-BX-0057 28,684 - Total Department of Justice 367,208 -

Department of the Interior:Direct Program:

Robinson Preserve Expansion Coastal Habitat Implementation 15.630 F15AC01222 6,267 - Passed through Florida Fish and Wildlife Conservation Commission:

Artificial Reef Construction FY16/17 15.605 FWC-16141 - * - Artificial Reef Construction FY17/18 15.605 FWC-17015 60,000 -

Total program 60,000 - Total Department of the Interior 66,267 -

Department of Commerce:Passed through Florida Department of Environmental Protection:

Perico-Robinson Connector Trail and Boardwalks 11.419 CM920 17,925 -

Corporation for National and Community Service:Passed through Volunteer Florida:

Manatee County Opioid Abuse Prevention Program 94.006 N/A (Americorps) - * -

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**See Single Audit Notes - Prior Year Expenses for CFDA 97.036The accompanying notes are an integral part of this schedule.

(Continued)



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Department of Housing and Urban Development:Direct Programs:

Community Development Block Grant-Entitlement FY13/14 14.218 B-13-UC-12-0018 4,770 - Community Development Block Grant-Entitlement FY14/15 14.218 B-14-UC-12-0018 92,836 6,685 Community Development Block Grant-Entitlement FY15/16 14.218 B-15-UC-12-0018 248,777 - Community Development Block Grant-Entitlement FY16/17 14.218 B-16-UC-12-0018 755,753 328,649 Community Development Block Grant-Entitlement FY17/18 14.218 B-17-UC-12-0018 530,151 185,181

Total CDBG Entitlement Grants Cluster 1,632,287 520,515

HOME-Entitlement FY12/13 14.239 M12-UC-120219 - * - HOME-Entitlement FY13/14 14.239 M13-UC-120219 6,752 6,752 HOME-Entitlement FY14/15 14.239 M14-UC-120219 144,067 136,100 HOME-Entitlement FY15/16 14.239 M15-UC-120219 123,568 59,987 HOME-Entitlement FY16/17 14.239 M16-UC-120219 223,226 - HOME-Entitlement FY17/18 14.239 M17-UC-120219 106,542 -

Total program 604,155 202,839

Emergency Solutions Grant (ESG) 14.231 E16-UC-12-0018 50,605 57,496 Emergency Solutions Grant (ESG) 14.231 E17-UC-12-0018 145,656 129,912

Total program 196,261 187,408 Total Department of Housing and Urban Development 2,432,703 910,762

Department of Homeland Security:Direct Program:

United States Transportation Security Administration:2015 Port Security Grant Program 97.056 EMW-2015-PU-00446-S01 19,048 - 2016 Port Security Grant Program 97.056 EMW-2016-PU-00294-S01 - * - 2017 Port Security Grant Program 97.056 EMW-2017-PU-00462-S01 - * - 2018 Port Security Grant Program 97.056 EMW-2018-PU-00218-S01 - * -

Total program 19,048 - Passed through Florida Division of Emergency Management:

Operation Stonegarden Grant Program (OSGP) 97.067 EMW-2017-SS-00061 16,436 - Passed through Florida Department of Community Affairs:

FEMA-1561-DR-FL (Hurricane Jeanne FY04-Manatee County Government) 97.036 05-PA-E=-08-51-01-053 - * -

FEMA-4068-DR-FL (Tropical Storm Debby FY12) 97.036 13-DB-73-08-51-02-591 - * - FEMA-4280-DR-FL (Hurricane Hermine FY16) 97.036 17-PA-W1-08-51-02-043 706,616 ** - FEMA-4337-DR-FL (Hurricane Irma FY17-Port Manatee) 97.036 4337DRFLP0000001/Z0059 112,817 - FEMA-4337-DR-FL (Hurricane Irma FY17- -

Manatee County Sheriff's Office) 97.036 4337DRFLP0000001/Z0087 871,430 ** - Total program 1,690,863 -

Emergency Management Performance Grant FY17/18 97.042 18-FG-7A-08-61-01-207 105,246 - Emergency Management Performance Grant FY18/19 97.042 19-FG-AF-08-51-01-134 9,406 -

Total program 114,652 - Total Department of Homeland Security 1,840,999 -

Total expenditures of federal awards $ 20,435,364 $ 910,762

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.**See Single Audit Notes - Prior Year Expenses for CFDA 97.036The accompanying notes are an integral part of this schedule. (Continued)



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AmountCSFA Contract Total Provided to

State Agency Name Number Grant Number Expenditures Subrecipients

Florida Department of Community Affairs:Hazardous Materials Emergency Response Plan FY17/18 31.067 18-CP-11-08-51-01-200 6,809 -

Florida Department of Elder Affairs and the Senior Connection Center:

Community Care for the Elderly FY17/18 65.010 CCE-17/18-MAN 913,133 - Community Care for the Elderly FY18/19 65.010 CCE-18/19-MAN 344,661 -


Alzheimer's Disease Initiative FY17/18 65.004 ADI-17/18-MAN 404,276 - Alzheimer's Disease Initiative FY18/19 65.004 ADI-18/19-MAN 122,735 -


Home Care for the Elderly FY17/18 65.001 HCE-17/18-MAN 10,632 - Home Care for the Elderly FY18/19 65.001 HCE-18/19-MAN 5,296 -

Total program 15,928 - Total Florida Department of Elder Affairs 1,800,733 -

Florida Department of Environmental Protection:Lake Manatee Water Supply and Water Quality Improvement Phase 2 37.039 LP41016 4,343 - Manatee County Rubonia Stormwater Drainage Project 37.039 LP41017 2,282 - Red Tide Management for and within Manatee County 37.039 AB003 157,482 -


Anna Maria Island Beach Nourishment (Coquina) 37.003 11ME1 748,267 - Anna Maria Island Beach Nourishment (Central) 37.003 14ME1 7,330 - Passage Key Inlet Implementation Study 37.003 17ME2 110,029 - Longboat Pass IMP Implementation-Manatee County 37.003 17ME3 41,539 - Anna Maria Island Beach Nourishment (Coquina Feasibility Study) 37.003 19ME1 595 -

Total program 907,760 - Total Florida Department of Environmental Protection 1,071,867 -

Florida Department of Health:Emergency Medical Services Trust FY17/18 64.005 C5041 - * - Emergency Medical Services Trust FY18/19 64.005 C6041 - * -

Total program - - EMS Matching Grant 64.003 M6006 24,360 -

Total Florida Department of Health 24,360 -

Florida Department of State:Operating Aid for Libraries FY17 45.030 17-ST-28 3,704 - Operating Aid for Libraries FY18 45.030 18-ST-28 197,258 -

Total Florida Department of State 200,962 -

*Ongoing grants continue to be reported, regardless of whether there is fiscal year activity.The accompanying notes are an integral part of this schedule.

(Contined)



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State Agency Name Number Grant Number Expenditures Subricipients

Florida Department of Transportation:Cold Storage Warehouse Improvements 55.014 FP#44087519401/G0H58 54,522 - Railroad Crossings Repairs (Intermodal Rail Improvements) 55.014 FP#44064219401/G0G63 10,994 -

Total program 65,516 - Berth Rehabilation & Reconstruction (JPA) 55.005 FP#43345719401/AR789 283,093 - Berth Rehabilation & Reconstruction (JPA) 55.005 FP#43345719403/AR789 356,625 -

Total program 639,718 - Transportation Disadvantaged Trust and Equipment Grant FY17/18 55.001 FM#43202718401 & FM#43202818401/G0M61 401,642 - Transportation Disadvantaged Trust and Equipment Grant FY18/19 55.001 FM#43202718401 & FM#43202818401/G0X44 165,226 -

Total program 566,868 - Public Transit Service Development Program 55.012 FP#43692718401/GO707 47,406 - Public Transit Service Development Program 55.012 FP#43521318401/GO720 63,011 -

Total program 110,417 - Anna Maria Island Trolley Project FY12-18 55.013 FP#41089518403/AQQ40 585,996 - Anna Maria Island Trolley Project FY18-23 55.013 FP#41089518405/G0T05 - * -

Total program 585,996 - State Operating Assistance Transit FY18 55.010 FP#41014118403/G0R49 (FY18) 929,300 - Transportation Regional Incentive Program (TRIP-SR684) 55.026 FP#437145134 & 5401/G0N40 - * - State Infrastructure Bank Loan Agmt (Port Berth Improvements) 55.020 FP#43907719401/G0C93 151,085 - Hidden Harbour Habitat Restoration Project 55.031 15CS0000001/D036 24,607 -

Sarasota/Manatee Metropolitan Planning Organization: Transportation Disadvantaged Trust Fund FY17/18 (Manatee) 55.002 FM#43202911401/G0N65 21,849 - Transportation Disadvantaged Trust Fund FY17/18 (Sarasota) 55.002 FM#43202911401/G0N93 17,945 -

Total program 39,794 - Total Florida Department of Transportation 3,113,301 -

Florida Department of Education:Manatee County Sheriff's Office:

Coach Aaron Feis Guardian Program applied for 96O-90210-9D001 - * -

Florida Department of Children and Families:Substance Abuse and Mental Health - Community Services 60.153 QD194 299,743 -

Executive Office of the Governor:Emergency Management Preparedness and Assistance Base Grant FY18 31.063 18-BG-W9-08-61-01-205 104,912 - Emergency Management Preparedness and Assistance Base Grant FY19 31.063 19-BG-21-08-51-01-003 10,873 -

Total Executive Office of the Governor 115,785 -

Department of Highway Safety and Motor Vehicles:Tampa Bay Estuary License Plate Project (Snorkeling 101) 76.012 PO #6882 1,905 - Florida Arts License Plates Project (Specialty License Plates) 76.041 N/A 8,363 -

Total Department of Highway Safety and Motor Vehicles 10,268 -


(Continued)



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State Agency Name Number Grant Number Expenditures Subricipients

Florida Department of Law Enforcement:Criminal Justice Officer Trust FY17/18 71.001 D0074 / CJSTC FY17/18 26,249 - Criminal Justice Officer Trust FY18/19 71.001 D0074 / CJSTC FY18/19 - * -

Total Florida Department of Law Enforcement 26,249 -

Florida Housing Finance Corporation:State Housing Initiative Program FY14/15 40.901 Plan 8 Year 2 3,971 - State Housing Initiative Program FY15/16 40.901 Plan 8 Year 3 646,091 - State Housing Initiative Program FY16/17 40.901 Plan 9 Year 1 534,249 17,775 State Housing Initiative Program FY17/18 40.901 Plan 9 Year 2 160,180 27,000 State Housing Initiative Program FY16/17 40.901 N/A (Foreclosure Counseling) 17,775 - State Housing Initiative Program FY18/19 40.901 Plan 9 Year 3 - * -

Total Florida Housing Finance Corporation 1,362,266 44,775

Florida Department of Economic Opportunity:Local Economic Dev. Initiatives (USA Ultimate Club Championship) 40.040 N/A (FY17/18) 6,000 -

Local Economic Dev. Initiatives (Eddie Herr Junior Tennis Challenge) 40.040 N/A (FY17/18) 5,000 - Local Economic Dev. Initiatives (US Soccer Development Academy-Boys) 40.040 N/A (FY17/18) 25,000 - Local Economic Dev. Initiatives (US Soccer Development Academy-Girls) 40.040 N/A (FY17/18) 20,000 - Local Economic Dev. Initiatives (USL Super Y Championship) 40.040 N/A (FY17/18) 17,500 - Local Economic Dev. Initiatives (2018 USFTL Nationals) 40.040 N/A (FY17/18) 17,000 - Local Economic Dev. Initiatives (S/M Regional Bridge Trournament) 40.040 N/A (FY17/18) 5,000 - Local Economic Dev. Initiatives (CONCACAF U15 Girls Championship) 40.040 N/A (FY17/18) 13,350 - Local Economic Dev. Initiatives (Tampa Bay Labor Day Tournament) 40.040 N/A (FY17/18) 7,860 -

Total program 116,710 - Local Economic Dev. Initiatives (CONCACAF U15 Boys Championship) 40.012 N/A (FY16/17) - * -

Total Florida Department of Economic Opportunity 116,710 - Total expenditures of state financial assistance $ 8,149,053 44,775




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Manatee County, Florida Notes to Schedule of

Expenditures of Federal Awards and State Financial Assistance

September 30, 2018 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Manatee County has not elected to use the 10% deminimus indirect cost rate allowed by the Uniform Guidance.

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 accordance with CFDA #97.036 Compliance Supplement, FEMA expenditures are reported within the Fiscal Year they are reimbursed. 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 March 29, 2019 there were no material questioned or disallowed costs as a result of grant audits in process or completed.

3. Surplus Funds from the Florida Department of Elder Affairs and The Senior Connection Center: Manatee County received from the Florida Department of Elder Affairs and The Senior Connection Center surplus funds on the following grant: Alzheimer’s Disease Initiative FY18 (ADI-17/18-MAN) $ 14,424 4. FTA Investment Formula Grants and New Starts Transit Program:

The Florida Department of Transportation uses state transportation development credits (TDC) match for FTA Investment Formula Grants Section 5307 and Section 5339 Bus and Bus Facilities Formula Grants FL90-0790, FL90-X808-00, FL90-X859-00, FL2016-021-00, FL2016-013-00, FL2017-111-00, FL2018-102-00, FL34-0023-00, FL34-0041-02, FL2016-025-00, FL2016-037-00, FL2018-052-00, FL2018-101-00 and Federal Transit Capital Investment Grant FL04-012100. A state contract does not exist nor is there a CSFA number.

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Manatee County, Florida Notes to Schedule of

Expenditures of Federal Awards and State Financial Assistance

September 30, 2018 5. Metropolitan Planning Organization (MPO):

The MPO received federal, state and local financial assistance. The federal assistance is identified as:Federal Highway Administration $ 993,380Federal Transit Administration 225,850

State assistance is identified as:Florida Department of Transportation (FDOT) Match $ 28,231FDOT (In-Kind / Soft-Match) 193,157Transportation Disadvantaged 39,794

Local Assistance consists of $14,116 received from Manatee County and $14,116 received from Sarasota County. 6. Other Federal Funds & State Funds Received :

Florida Department of Environmental Protection awarded Manatee County an agreement for Anna Maria Island Beach Nourishment (Central Beach) (14ME1) on October 1, 2013. The contract allowed reimbursement for expenses incurred back to FY14. Total expenses reimbursed in FY18 by FDEP were $339,032 (FY14 $19,507, FY15 $104,189, FY16 $132,497, and FY17 $78,081, and FY18 $4,758). Florida Department of Environmental Protection awarded Manatee County an agreement for Anna Maria Island Beach Nourishment (Coquina Beach) (11ME1) on January 17, 2012. Total expenses reimbursed in FY18 by FDEP were $748,267 (FY14 $4,564, FY15 $119,012, FY16 $137,871, FY17 $485,679, FY18 $1,141). 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. This project is anticipated to close during FY19. 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 $5,137,757 through the fourth quarter of FY18. Manatee County received a Presidential Declaration from Department of Homeland Security passed through the Florida Division of Emergency Management (DEM) for Hurricane Hermine (17-PA-W1-08-51-02-043) on January 27, 2017. The expenses of $706,616 were incurred in FY18 and prior fiscal years and were not previously reported, and are included with the 2018 expenses (FY16 $317,627, FY17 $124,475, FY18 $264,514). In FY18 the expenses were submitted for reimbursement and payment was received in FY18. Manatee County Sheriff’s Department received a Presidential Declaration from Department of Homeland Security passed through the Florida Division of Emergency Management (DEM) for Hurricane Irma (4337DRFLP0000001 / Z0087) on July 20, 2018. The Federal expenses of $871,430 were incurred in FY17 and were not previously reported, and are included in the 2018 expenses. In FY18 the expenses were submitted for reimbursement and payment was received in FY18. On June 29, 2018, Manatee County received payment of $11,869.90 from Florida Division of Emergency Management (DEM) for providing emergency shelters and animal control/sheltering during Hurricane Matthew. Manatee County did not receive a Presidential Declaration for Hurricane Matthew.

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MANATEE COUNTY, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS-

FEDERAL PROGRAMS AND STATE PROJECTS For The Year Ended September 30, 2018

PART I - SUMMARY OF AUDITOR’S RESULTS Financial Statements Type of auditors’ report issued: Unmodified Internal control over financial reporting:

Material weakness(es) identified? No Significant deficiency(ies) identified? No Noncompliance material to financial statements noted? No

Federal Awards Internal control over major programs:

Material weakness(es) identified? No Significant deficiency(ies) identified? No

Type of auditors’ report issued on compliance for major programs: Unmodified Any audit findings disclosed that are required to be reported in accordance with 2 CFR 200.516(a)?

No

Identification of major federal programs:

CFDA Number Name of Federal Program or Cluster

20.500, 20.507, 20.526

Federal Transit Cluster

Dollar threshold used to distinguish between Type A and Type B Federal programs

$750,000

Auditee qualified as low-risk auditee? Yes

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MANATEE COUNTY, FLORIDA SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS-


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? Yes

Type of auditors’ report issued on compliance for major projects: Unmodified Any audit findings disclosed that are required to be reported in accordance with state requirements? Yes Identification of major State projects:

CSFA Number Name of State Project or Cluster

40.901 State Housing Initiative Partnership Program (SHIP) 55.001 Florida Commission for the Transportation Disadvantaged Trip and Equipment

Grant Program 55.013 65.004 65.010

Transit Corridor Development Program Alzheimer’s Respite Services Community Care for the Elderly

Dollar threshold used to distinguish between Type A and Type B State projects $300,000 PART II - SCHEDULE OF FINANCIAL STATEMENT FINDINGS

Our audit did not disclose any matters required to be reported in accordance with Government Auditing Standards. PART III - SCHEDULE OF FINDINGS AND QUESTIONS COSTS – FEDERAL PROGRAMS There were no findings required to be reported.

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PART IV - SCHEDULE OF FINDINGS AND QUESTIONS COSTS – STATE PROJECTS Finding Number: 2018-001 CSFA Number: 65.010 Program Title: Community Care for the Elderly(CCE) CSFA Number: 65.004 Program Title: Alzheimer Respite Service (ADI) Compliance Requirement: Reporting Pass-Through Entity: Florida Department of Elder Affairs Senior Connection Center Contract Number and Year: CCE-17/18-MAN, ADI-17/18-MAN, FY 2017-2018 Questioned Costs: No Questioned Costs Criteria: 215.97(1)(a) Florida Statutes states that promotion of effective internal controls over state projects is a purpose of the Florida Single Audit Act. The contracts identified above require an Annual Service Cost Report to be, submitted to the Senior Connection Center by August 15, 2018. This report reflects actual costs of providing each service and the information is used for planning and negotiating unit rates. Condition and Cause: Based on audit procedures performed, it was determined that an internal control related to review of the Annual Service Cost Report prior to submission to the Senior Connection Center had not been performed by Manatee County. This was a result of turnover in the County department, and as the position was not replaced and there was no cross training, the review of the Annual Service Cost Report did not occur. Effect: The lack of internal controls over the reporting compliance requirement may result in unknowingly submitting incorrect information, which could significantly, impact future negotiated rates. We did not identify instances of noncompliance as part of the testing procedures performed, other than minor instances, which had no material impact on compliance. Auditor Recommendation: It is recommended that each County department formally document their internal controls over compliance relating to the appropriate Federal and or State program regulations as well as the specific grant contracts. It is further recommended that the County departments maintain copies of these policies and procedures and review them upon personnel changes and the receipt of new Federal and/or State awards. Views of Responsible officials: The County departments will formally document their internal controls over compliance relating to Federal and / or State program regulations as well as specific grant contracts. The departments will maintain copies of the policies and procedures and review them when there are personnel changes and upon receipt of new Federal and / or State awards. Required reports will be reviewed by County department personnel prior to submission to the oversight agencies.

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PART V - OTHER MATTERS No prior year findings. PRIOR YEAR FINDINGS AND QUESTIONED COSTS – SFQC MAJOR FEDERAL PROGRAMS AND STATE PROJECTS

There were no prior audit findings requiring follow-up.

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Fiscal Year

2015 $ 1,145,000 $ - 2016 - - 2017 - - 2018 - -

Note: This schedule is required by Auditor General Rule 10.557(3)(n). It does not include funds related to the DeepwaterHorizon Oil Spill that are considered Federal awards or State financial assistance.


During the Fiscal Year During the Fiscal Year

Source: British Petroleum, Claim No. 137541

Schedule of Receipts and Expenditures of Funds Related to the Deepwater Horizon Oil SpillFor the Fiscal Year Ended September 30, 2018

Amount ExpendedAmount Received

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