TAMPA BAY REGIONAL PLANNING COUNCIL - FINANCIAL STATEMENTS AND COMPLIANCE REPORTSTAMPA BAY REGIONAL PLANNING
COUNCIL
FINANCIAL STATEMENTS AND COMPLIANCE
REPORTS
As of and for the Year Ended September 30, 2013
And Reports of Independent Auditor
Cherry Bekaert`''
TAMPA BAY REGIONAL PLANNING COUNCIL
TABLE OF CONTENTS
REPORT OF INDEPENDENT AUDITOR 1 — 2
MANAGEMENT'S DISCUSSION AND ANALYSIS 3 — 9
BASIC FINANCIAL STATEMENTS
Government -Wide Financial Statements:
Statement of Net Position 10
Statement of Activities 11
Fund Financial Statements:
Balance Sheet — General Fund 12
Reconciliation of the Balance Sheet of the General Fund to the
Statement of Net Position 13
Statement of Revenues, Expenditures and Changes in Fund
Balances — General Fund 14
Reconciliation of the Statement of Revenues, Expenditures
and Changes in Fund Balance of the General Fund to the
Statement of Activities 15
Statement of Revenues, Expenditures and Changes in Fund
Balances - Budget and Actual - General Fund 16
Notes to Financial Statements 17 — 27
GRANT COMPLIANCE
Report of Independent Auditor 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 28 — 29
Report of Independent Auditor on Compliance for Each
Major Federal Program and on Internal Control
Over Compliance Required by OMB Circular A -133 30 — 31
Schedule of Expenditures of Federal Awards 32
Notes to the Schedule of Expenditures of Federal Awards 33
Schedule of Findings and Questioned Costs 34 - 35
Independent Auditor's Management Letter 36 - 37
`•• Cherry Bekaert
CPAs & Advisors
Report of Independent Auditor
To the Council Members
Tampa Bay Regional Planning Council
Pinellas Park, Florida
Report on Financial Statements
We have audited the accompanying financial statements of the governmental activities and the general fund of
the Tampa Bay Regional Planning Council (the "Council "), as of and for the year ended September 30, 2013,
and the related notes in the financial statements, which collectively comprise the Council's basic financial
statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America; this includes the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial
statements that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our
audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk
assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of
the financial statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we
express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and
the reasonableness of significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities and the general fund of the Council, as of September 30, 2013
and the respective changes in financial position and the respective budgetary comparison for the general fund
for the year then ended in accordance with accounting principles generally accepted in the United States of
America.
Emphasis of Matter
Change in Accounting Principle
As discussed in Note 13 to the basic financial statements, the Council adopted the provisions of Governmental
Accounting Standards Board Statement No. 63, Financial Reporting of Deferred Outflows of Resources,
Deferred Inflows of Resources, and Net Position, and Governmental Accounting Standards Board Statement
No. 65, Items Previously Reported as Assets and Liabilities, effective October 1, 2012. Our opinion is not
modified with respect to this matter.
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 3 through 9 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 Council's basic financial statements. The accompanying schedule of expenditures of federal
awards is presented for purposes of additional analysis as required by U.S. Office of Management and Budget
Circular A -133, Audits of States, Local Governments, and Non - Profit Organizations, and is not a required part of
the basic financial statements.
The schedule of expenditures of federal awards is the responsibility of management and was derived from and
relates 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 schedule of expenditures of federal
awards is fairly stated in all material respects in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated February 10, 2014,
on our consideration of the Council'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 Council's internal control over financial reporting and compliance.
Cie,m4t 6.d4,,Je" Li—e0
Tampa, Florida
February 10, 2014
2
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
As management of Tampa Bay Regional Planning Council
financial statements this narrative overview and analysis of
year ended September 30, 2013. We encourage readers to
with additional information that we have furnished in the
narrative.
Financial Highlights
(the "Council "), we offer readers of the Council's
the financial activities of the Council for the fiscal
read the information presented here in conjunction
Council's financial statements, which follow this
• The assets of the Council exceeded its liabilities and deferred inflow of resources at the close of the fiscal
year by $1,721,739 (net position).
• The government's total net position decreased by $12,086 mainly due to a decrease in charges for services.
• At the end of the current fiscal year, the total non - restricted fund balance for the General Fund was
$1,261,889 or 35.3 percent of total general fund expenditures for the fiscal year. The non - restricted fund
balance consists of $26,173 that is nonspendable, $384,842 that is assigned and $850,874 that is
unassigned.
• The Council's total long -term liabilities decreased by $147,116 compared to the prior fiscal year. The key
factor in this decrease is the payment of principal on the series 2008 note payable.
Overview of the Financial Statements
This discussion and analysis are intended to serve as an introduction to the Council's basic financial statements.
The Council's basic financial statements consist of three components; 1) government -wide financial statements,
2) fund financial statements, and 3) notes to the financial statements (see Figure 1). The basic financial
statements present two different views of the Council through the use of government -wide statements and fund
financial statements. In addition to the basic financial statements, this report contains other supplemental
information that will enhance the reader's understanding of the financial condition of the Council.
Required Components of Annual Financial Report
Figure 1
Management's
Discussion and
Analysis
Basic
Financial
Statements
Government -wide
Financial
Statements
Fund
Financial
Statements
Notes to the
Financial
Statements
3
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
Basic Financial Statements
The first two statements (pages 10 and 11) in the basic financial statements are the Government -wide
Financial Statements. They provide both short and long -term information about the Council's financial status.
The next statements (pages 12 through 16) are Fund Financial Statements. These statements focus on the
activities of the individual parts of the Council's government. These statements provide more detail than the
government -wide statements. The Fund Financial Statements are comprised of the governmental funds
statements.
The next section of the basic financial statements is the notes to the financial statements. The notes to the
financial statements explain in detail some of the data contained in those statements.
Government -wide Financial Statements
The government -wide financial statements are designed to provide the reader with a broad overview of the
Council's finances, similar in format to a financial statement of a private- sector business. The government -wide
statements provide short and long -term information about the Council's financial status as a whole.
The two government -wide statements report the Council's net position and how it has changed. Net position is
the difference between the Council's total assets, and total liabilities and deferred inflow of resources.
Measuring net position is one way to gauge the Council's financial condition.
The government -wide statements include the governmental activities category. The governmental activities
include most of the Council's basic services such as council and program activities. Federal and state grants,
charges for services and membership dues fund most of these activities.
Fund Financial Statements
The fund financial statements provide a more detailed look at the Council's most significant activities. 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. The Council, like all other governmental entities, uses fund accounting to ensure
and reflect compliance (or non - compliance) with finance - related legal requirements, such as the Council's
budget adoption. All of the funds of the Council are included in only one category: governmental funds.
Governmental Funds. Governmental funds are used to account for those functions reported as governmental
activities in the government -wide financial statements. All of the Council's basic services are accounted for in
governmental funds. These funds focus on how assets can readily be converted into cash flow in and out, and
what monies are left at year end that will be available for spending in the next year. Governmental funds are
reported using modified accrual accounting which provides a current financial resources focus. As a result, the
governmental fund financial statements give the reader a detailed short-term view that helps determine the
amount of financial resources available to finance the Council's programs.
The relationship between governmental activities (reported in the Statement of Net Position and the Statement
of Activities) and governmental funds is described in a reconciliation that is a part of the fund financial
statements.
4
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
The Council adopts an annual budget for its General Fund. The budgetary statement provided for the General
Fund demonstrates how well the Council complied with the budget and whether or not the Council succeeded in
providing the services as planned when the budget was adopted. The budgetary comparison statement uses
the budgetary basis of accounting and is presented using the same format, language, and classifications as the
legal budget document. The statement shows four columns: 1) the original budget as adopted by the board; 2)
the final budget as amended by the board; 3) the actual resources, charges to appropriations, and ending
balances in the General Fund; and 4) the difference or variance between the final budget and the actual
resources and charges.
Notes to the Financial Statements. The notes provide additional information that is essential to a full
understanding of the data provided in the government -wide and fund financial statements. The notes to the
financial statements are on pages 17 through 27 of this report.
Government -Wide Financial Analysis
The Council's net position for the past two fiscal years is summarized as follows:
Current and other assets
Capital assets
Total assets
Current and other liabilities
Long -term liabilities outstanding
Total liabilities
Primary
Governmental
Activities
2012 Increase
2013 (as restated) (Decrease)
$ 1,585,021
2,338,597
3,923,618
280,934
1,919,239
2,200,173
Deferred inflow of resources 1,706
$ 2,261,781 $ (676,760)
2,119,522 219,075
4,381,303 (457,685)
513,510 (232,576)
2,066,355 (147,116)
2,579,865 (379,692)
67,613 (65,907)
Net position:
Net investment in capital assets 585,428 224,820 360,608
Restricted for specialty license
plate related expenditures 40,492 47,918 (7,426)
Unrestricted 1,095,819 1,461,087 (365,268)
Total net position $ 1,721,739 $ 1,733,825 $ (12,086)
The decreases in current and other assets and liabilities are the result of the use of cash to purchase capital
assets and a reduction in accounts payable. The increase in capital assets is the result of the current year's
capital asset additions, of which the majority was related to a remodel of the Council's building.
5
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
Government - Wide Financial Analysis (continued)
Revenues:
Program revenues:
Charges for services
Operating grants and contributions
Governmental Activities
2012 Increase
2013 (as restated) (Decrease)
$ 883,511 $ 1,396,958 $ (513,447)
1,274,154 876,925 397,229
General revenues:
Membership dues 920,215 913,324 6,891
Rental income 91,964 181,123 (89,159)
Interest 3,173 3,512 (339)
Miscellaneous 23,271 45,471 (22,200)
Total revenues 3,196,288 3,417,313 (221,025)
Functions /Program expenses:
Financial and administration 281,114 374,185 (93,071)
Comprehensive planning 2,355,770 2,222,675 133,095
Public safety 205,094 308,380 (103,286)
Physical environmental 297,288 289,777 7,511
Debt service- interest and debt
service amortization 69,108 74,575 (5,467)
Total functions /program expenses 3,208,374 3,269,592 (61,218)
Change in net position $ (12,086) $ 147,721 $ (159,807)
6
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
Government - Wide Financial Analysis (continued)
Governmental Activities - Revenue 2013
Charges for Services 27%
Operating Grants &
Contributions 40%
Governmental Activities - Expenditures 2013
Debt Service - Interest & Amort.
2%
7
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
Government - Wide Financial Analysis (continued)
Net position may serve over time as one useful indicator of a government's financial condition. The Council's net
position decreased by $12,086 for the fiscal year ended September 30, 2013. The decrease is primarily due to
decreases in charges for services.
Financial Analysis of the Council's Funds
As noted earlier, the Council uses fund accounting to ensure and demonstrate compliance with finance- related
legal requirements.
Governmental Funds - The focus of the Council's governmental funds is to provide information on near -term
inflows, outflows, and balances of usable resources. Such information is useful in assessing the Council's
financing requirements. Specifically, unreserved fund balance can be a useful measure of a government's net
resources available for spending at the end of the fiscal year.
The general fund is the chief operating fund of the Council. At the end of the current fiscal year, unassigned
fund balance of the General Fund was $850,874. The total assigned fund balance of the General Fund was
$384,842 which represents amounts assigned by the board for specific purposes.
Balance Sheet
Figure 4
Governmental Funds Increase
2013 2012 (Decrease)
Current and other assets $ 1,585,021 $ 2,261,781 $ (676,760)
Liabilities, deferred inflow of resources and
fund balance
Liabilities
280,934
513,510 (232,576)
Deferred inflow of resources 1,706 67,613 (65,907)
Fund balance:
Nonspendable 26,173 23,461 2,712
Restricted 40,492 47,918 (7,426)
Assigned 384,842 818,567 (433,725)
Unassigned 850,874 790,712 60,162
Total 1,302,381 1,680,658 (378,277)
Total liabilities, deferred inflow of resources
and fund balance $ 1,585,021 $ 2,261,781 $ (676,760)
General Fund Budgetary Highlights - During the fiscal year, the Council revised the budget on several
occasions. Generally, budget amendments fall into one of three categories: 1) amendments made to adjust the
estimates that are used to prepare the original budget once exact information is available; 2) amendments made
to recognize new funding amounts from external sources, such as Federal and State grants, contracts, etc.; and
3) increases in appropriations that become necessary to maintain services. Total amendments to the General
Fund increased revenues by $181,608. The increase is mainly due to additional federal grants.
8
TAMPA BAY REGIONAL PLANNING COUNCIL
MANAGEMENT'S DISCUSSION AND ANALYSIS
Capital Asset and Debt Administration
Capital Assets - The Council's investment in capital assets for its governmental activities as of September 30,
2013 totals $2,338,597, net of accumulated depreciation of $1,080,719. These assets include land of $470,041,
building and building improvements of $1,722,911 (net), building components of $96,104 (net), landscaping of
$19,625 (net), and equipment, furniture and fixtures of $29,916 (net).
Additional information on the Council's capital assets can be found in Note 4 of the basic financial statements.
Long -Term Debt - As of September 30, 2013, the Council's long -term obligations consisted of a note payable
for $1,753,169 and accrual for compensated employee absences of $166,070. Additional information regarding
the Council's long -term debt can be found in Note 10 of the basic financial statements.
Economic Factors and Next Year's Budgets and Rates
The following economic factors will have an impact on the Council's 2013/2014 budget:
• The increase of 1.5% in the Consumer Price Index for the last twelve months provides a positive impact in
keeping operating costs at a manageable level compared to last year.
• Interest income is expected to remain unchanged for 2014.
• The Council's per capita dues rate remains at $.295. This calculates to a $7,516 increase as compared to
the prior year's assessment. The Council has been able to absorb any increased costs through contract
and grant awards.
• The Council was not funded by the Department of Economic Opportunity for the state fiscal year ending
June 30, 2014. The Council is hopeful that the funding will be renewed for the next fiscal year.
Budget Highlights for the Fiscal Year Ending September 30, 2014
Changes to programs that will have a bearing on the Council's 2013/2014 budget:
• Several programs completed in 2012/2013 will not impact the 2013/2014 budget. They include: Directional
Atlas Pilot, Okeechobee Atlas Update, St. Pete Beach Catalyst Technical Assistance, Standardized
Statewide Broadband Planning, GIS Broadband DMS Transition Agreement, and Energy Assurance
Strategy. These programs accounted for $808,000 of funding in 2012/2013.
• Several new programs will impact the 2014 budget. These include: Broadband Mapping Special Projects,
Directional Atlas Project, Economic Evaluation of Tampa Bay and Estuary, and Solar Ready II. These
programs will account for $245,000 of funding.
The initial 2013/2014 budget anticipated approximately $2,217,000 in expenditures. Several programs not
anticipated in the initial budget will impact the 2014 budget. The funding level of these programs for 2014 will be
approximately $123,000.
Requests for Information
This report is designed to provide an overview of the Council's finances for those with an interest in this area.
Questions concerning any of the information found in this report or requests for additional information should be
directed to the Executive Director, Tampa Bay Regional Planning Council, 4000 Gateway Centre Boulevard,
Suite 100, Pinellas Park, Florida 33782.
9
TAMPA BAY REGIONAL PLANNING COUNCIL
STATEMENT OF NET POSITION
SEPTEMBER 30, 2013
ASSETS
Cash $ 1,069,525
Investments 95,439
Receivables:
Federal and state grants 302,702
Local government 43,615
Other receivables 7,075
Prepaid expenses, inventory, and other assets 26,173
Capital assets, net of accumulated depreciation 2,338,597
Restricted cash 40,492
Total assets 3,923,618
LIABILITIES
Accounts payable and accrued liabilities
Unearned revenue
Long -term liabilities:
Due within one year
Due in greater than one year
Total liabilities
238,841
42,093
147,004
1,772,235
2,200,173
DEFERRED INFLOW OF RESOURCES
Grants received in advance 1,706
NET POSITION
Net investment in capital assets 585,428
Restricted for specialty license plate expenditures 40,492
Unrestricted 1,095,819
Total net position $ 1,721,739
The notes to the financial statements are an integral part of this statement. 10
TAMPA BAY REGIONAL PLANNING COUNCIL
STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2013
Net (Expense)
Revenue and
Changes in
Program Revenues Net Assets
Primary
Operating Government
Charges for Grants and Governmental
Functions /Programs Expenses Services Contributions Activities
Primary government:
Governmental activities:
General government:
Financial and administration $ 281,114 $ 40,171 $ - $ (240,943)
Comprehensive planning 2,355,770 605,743 751,922 (998,105)
Public safety 205,094 47,485 471,928 314,319
Physical environment 297,288 190,112 50,304 (56,872)
Debt service - interest and debt
service amortization 69,108 - (69,108)
Total governmental activities 3,208,374 883,511 1,274,154 (1,050,709)
Total primary government $ 3,208,374 $ 883,511 $ 1,274,154 (1,050,709)
General revenues:
Membership dues 920,215
Rental income 91,964
Interest 3,173
Miscellaneous 23,271
Total general revenues 1,038,623
Change in net assets (12,086)
Net position - beginning, as restated 1,733,825
Net position - ending $ 1,721,739
The notes to the financial statements are an integral part of this statement. 11
TAMPA BAY REGIONAL PLANNING COUNCIL
BALANCE SHEET- GENERAL FUND
SEPTEMBER 30, 2013
ASSETS
Cash $ 1,069,525
Investments 95,439
Receivables:
Federal and state grants 302,702
Local government 43,615
Other receivables 7,075
Prepaid expenditures and inventory 26,173
Restricted cash 40,492
Total assets $ 1,585,021
LIABILITIES, DEFERRED INFLOW AND FUND BALANCES
Liabilities:
Accounts payable and accrued liabilities
Unearned revenues
Total liabilities
$ 238,841
42,093
280,934
Deferred inflow of resources:
Grants received in advance 1,706
Fund balances:
Nonspendable
Prepaid expenditures and inventory 26,173
Restricted
Specialty license plate expenditures 40,492
Assigned
Future year budgetary deficit 55,275
Compensated employee absences 166,070
Grant matching funds 63,497
Development of regional
impact and other council activities 25,000
Long term building renewal and replacement 75,000
Unassigned 850,874
Total fund balances 1,302,381
Total liabilities, deferred inflow and fund balances $ 1,585,021
The notes to the financial statements are an integral part of this statement. 12
TAMPA BAY REGIONAL PLANNING COUNCIL
RECONCILIATION OF THE BALANCE SHEET OF THE GENERAL FUND TO THE
STATEMENT OF NET POSITION
SEPTEMBER 30, 2013
Total Fund Balance - General Fund $ 1,302,381
Amounts reported for governmental activities in the statement of net position are
different because:
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the General Fund. 2,338,597
Long -term liabilities are not due and payable in the current period and
therefore, are not reported as liabilities in the General Fund. Long -term
liabilities at year end consists of:
Liability for compensated absences
Note payable
$ (166,070)
$ (1,753,169)
(1,919,239)
Total Net Position - Governmental Activities $ 1,721,739
The notes to the financial statements are an integral part of this statement. 13
TAMPA BAY REGIONAL PLANNING COUNCIL
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2013
Revenues
Federal grants $ 1,060,622
State grants 39,211
Membership dues 920,215
Fees /contracts 883,511
In -kind revenues 174,321
Other revenues 23,271
Interest 3,173
Rental income 91,964
Total revenues 3,196,288
Expenditures
Current:
General government:
Finance and administration 261,253
Comprehensive planning 2,307,314
Public safety 200,780
Physical environment 274,028
Capital outlay 320,549
Debt service:
Interest 69,108
Principal 141,533
Total expenditures 3,574,565
Deficit of revenues over expenditures (378,277)
Fund balance - beginning 1,680,658
Fund balance - ending $ 1,302,381
The notes to the financial statements are an integral part of this statement. 14
TAMPA BAY REGIONAL PLANNING COUNCIL
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE OF THE GENERAL FUND TO THE STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2013
Net change in fund balances - total General Fund $ (378,277)
Amounts reported for governmental activities in the statement of activities are different
because:
The General Fund reports capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense. This is the amount by which
capital outlay of $320,549 exceeded depreciation of $101,474 in the current
period.
219,075
Repayment of revenue note principal is an expenditure in the General Fund, but
the repayment reduces long -term liabilities in the statement of net position. 141,533
In the statement of activities, the cost of compensated absences is measured by
the amounts earned during the year, while in the General Fund expenditures are
recognized based on the amounts actually paid for leave used. This is the net
amount of vacation, sick leave and other incremental salary - related payments
earned in excess of the amount used in the current period.
Change in net position of governmental activities
5,583
$ (12,086)
The notes to the financial statements are an integral part of this statement. 15
TAMPA BAY REGIONAL PLANNING COUNCIL
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
BUDGET AND ACTUAL - GENERAL FUND
YEAR ENDED SEPTEMBER 30, 2013
Revenues
Federal grants
State grants
Membership dues
Fees /contracts
Other revenues
In -kind revenues
Interest
Rental income
Total revenues
Expenditures
Current:
Direct personnel service
Indirect costs
Other direct costs:
Publications, subscriptions and dues
Travel /conferences
Legal expenses
Printing /graphics
Contract services /consultants
Occupancy costs
Equipment lease /maintenance
Auditing
Other operating expenditures
Administrative in -kind
Capital outlay
Debt service:
Interest
Principal
Total expenditures
Deficit of revenues over expenditures
Fund balance - beginning
Fund balance - ending
Original
Budget
Final
Budget
$ 877,672 $ 1,068,888
103,508 39,383
918,216 920,216
714,225 822,189
26,038 19,904
132,138 168,021
3,600 3,600
176,342 91,146
2,951,739 3,133,347
1,272,717
46,000
32,450
44,850
21,900
12,500
1,032,842
117,936
105,954
23,500
62,533
132,138
10,000
1,252,784
56,100
33,058
40,088
28,250
17,065
1,219,941
123,002
104,260
24,500
67,783
168,021
318,000
69,392 69,392
141,542 141,542
$ 3,126,254 $ 3,663,786
Actual
$ 1,060,622
39,211
920,215
883,511
23,271
174,321
3,173
91,964
3,196,288
1,239,515
42,582
32,097
35,849
25,012
16,926
1,210,472
84,788
100,696
24,501
56,616
174,321
320,549
69,108
141,533
3,574,565
(378,277)
1,680,658
$ 1,302,381
Variance
With Final
Positive
(Negative)
$ (8,266)
(172)
(1)
61,322
3,367
6,300
(427)
818
62,941
13,269
13,518
961
4,239
3,238
139
9,469
38,214
3,564
(1)
11,167
(6,300)
(2,549)
284
9
$ 89,221
The notes to the financial statements are an integral part of this statement. 16
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1— Summary of significant accounting policies
The financial statements of the Tampa Bay Regional Planning Council (the "Council ") conform to accounting
principles generally accepted in the United States of America as applicable to governmental units. The
Governmental Accounting Standards Board ( "GASB ") is the accepted standard - setting body for establishing
governmental accounting and financial reporting principles. The following is a summary of the significant
accounting policies.
A. REPORTING ENTITY
The Council is a tax - exempt association of cities and counties, which is organized to assist governmental and
private agencies in the planning and administration of government -aided programs in the Tampa Bay area. The
Council was established by interlocal agreement September 8, 1975 pursuant to the authority of Section 163.01,
Florida Statutes. The basic operations of the Council, as reflected in the accompanying statement of revenues
and expenditures, are financed by dues charged to member governments.
The financial reporting entity consists of the primary government and any organizations for which the primary
government is financially accountable in accordance with the provisions of Statement No. 61 of GASB, The
Financial Reporting Entity: Omnibus an amendment of GASB Statements No. 14 and No. 34 (the "Statement ").
Component units are defined by the Statement as legally separate organizations for which the elected officials
of the primary government appoint the majority of the organization's board and in which a financial benefit and
burden relationship between the primary government and the organization exist. There is one component unit
included in the Council's reporting entity, Regional Cooperative Alliance, Inc.
Regional Cooperative Alliance, Inc. Regional Cooperative Alliance, Inc., a tax exempt 501(c)(3) nonprofit
corporation, was formed by the Council for the exclusive purpose of researching, identifying, developing and
disseminating strategies to regional issues. The Council's executive board is the governing board of Regional
Cooperative Alliance, Inc.
In the current year, there was no activity in the component unit to include in the reporting entity's basic financial
statements as of September 30, 2013.
B. BASIS OF PRESENTATION - BASIS OF ACCOUNTING
Basis of Presentation
Government -wide Statements - The statement of net position and the statement of activities report information
on the primary government. These statements distinguish between the governmental activities, generally
financed through taxes, intergovernmental revenues, and other non - exchange transactions.
The statement of activities presents a comparison between direct expenses and program revenues for each
function of the Council's governmental activities. Program revenues include (a) fees and charges paid by the
recipients of goods or services offered by the programs and (b) grants that are restricted to meeting the
operational or capital requirements of a particular program. Revenues that are not classified as program
revenues are presented as general revenues.
Fund Financial Statements - The fund financial statements provide information about the Council's general fund,
which accounts for all of the Council's operations.
17
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1— Summary of significant accounting policies (continued)
Measurement Focus, Basis of Accounting
Government -wide Financial Statements - The government -wide financial statements are reported using the
economic resources measurement focus and the accrual basis of accounting. Revenue is recognized when
earned and expenses are recognized when incurred, regardless of the timing of related cash flows. Non -
exchange transactions, in which the Council gives (or receives) value without directly receiving (or giving) equal
value in exchange, include grants, entitlements, and donations. Revenues from grants are recognized in the
fiscal year in which all eligibility requirements have been satisfied.
General Fund Financial Statements - The general fund is accounted for using a flow of current financial
resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are
recognized when measurable and available. Revenues are considered to be available when they are collectible
within the current period, or soon enough thereafter, to pay liabilities of the current period. Expenditures are
recorded when the related fund liability is incurred, except for principal and interest on general long -term debt
and compensated employee absences, which are recognized as expenditures to the extent they have matured.
General capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general
long -term debt and acquisitions under capital leases are reported as other financing sources.
Under the terms of grant agreements, the Council funds certain programs by a combination of specific cost -
reimbursement grants, categorical block grants, and general revenues. Thus, when program expenses are
incurred, there is both restricted and unrestricted net position available to finance the program. It is the Council's
policy to first apply cost - reimbursement grant resources to such programs, followed by categorical block grants,
and then by general revenues.
C. Budgetary Data
An annual budget is adopted for the general fund by the Council at the June meeting preceding the fiscal year
end. All annual appropriations lapse at the fiscal year end. Mid -year and year end amendments are made to the
budget as necessary. The budget is prepared and controlled at the project activity level.
The Council's budget for the general fund is prepared under a budgetary basis. There were no adjustments
necessary to convert the results of operations at end of the year from the budgetary basis of accounting to the
modified accrual basis of accounting for the general fund.
D. Assets, Liabilities, Deferred Inflow of Resources and Fund Equity
Investments - Investments are recorded at fair value, except for amounts invested with the State Board of
Administration's ( "SBA ") Local Government Surplus Funds Trust Fund, a 2a7 -like investment pool, which are
recorded at amortized cost, which approximates fair value.
Capital Assets - Capital assets, which include furniture, fixtures, equipment and a building, are reported in the
government -wide financial statements. Capital assets are defined by the government as assets with an initial,
individual cost of more than $500 and an estimated useful life in excess of two years. Such assets are recorded
at cost.
The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend
assets' lives are not capitalized.
18
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1— Summary of significant accounting policies (continued)
Depreciation is provided on a straight -line method over the following estimated useful lives:
Years
Building 40
Building components 10 -25
Landscaping 15
Equipment, furniture and fixtures 3 -10
Compensated Employee Absences - Sick Leave - Employees with five years of service become eligible to
receive 25% of accumulated sick leave upon termination, limited to 150 hours of compensation. Employees with
ten years of service become eligible to receive 50% of accumulated sick leave upon termination, limited to 200
hours of compensation. Employees with twenty years of service become eligible to receive 50% of accumulated
sick leave upon termination, limited to 250 hours of compensation. Employees with thirty years of service
become eligible to receive 50% of accumulated sick leave upon termination, limited to 300 hours of
compensation. As of September 30, 2013, the total accumulated sick leave pay benefit was $367,508 for all
employees. Of this amount, an accrual representing vested benefits of $86,892 has been reported in the
government -wide financial statements at September 30, 2013.
Vacation Pay - Employees can accumulate up to 1 1/2 times the normal amount earned for one year and is
payable, if not used, upon termination. At September 30, 2013, accrued vacation payable of $62,915 has been
reported in the government -wide financial statements.
The liability for compensated employee absences includes an accrual for incremental salary- related payments.
These include the Council's share of Social Security and Medicare payroll taxes and the Council's required
contribution to the Florida Retirement System. At September 30, 2013, accrued salary- related payments totaling
$16,263 has been reported in the government -wide financial statements.
The amount of accrued compensated employee absences expected to be paid from current resources is not
significant.
Unearned Revenue - Unearned revenue represents payments for programs received in advance of the service
being performed.
Deferred Inflow of Resources - In addition to liabilities, the statement of financial position will sometimes report a
separate section for deferred inflows of resources. This separate financial statement element, Deferred Inflows
of Resources, represents an acquisition of net position that applies to a future period and so will not be
recognized as revenue until then. The Council has only one item that meet the criterion for this category — grant
funding received in advance.
In -kind Revenue - The Council records in -kind revenue and expense if the services create or enhance long -lived
assets or require specialized skills, are provided by individuals possessing those skills, and would typically need
to be purchased.
Employee Benefits, Indirect Costs and Direct Charge Allocations - The Council uses cost allocations to share
common or joint institutional costs. Costs are accumulated in pools and are equitably distributed among the
programs based on an allocation method that demonstrate compliance with fair and objective cost - sharing
among programs, including grant funded programs.
19
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1— Summary of significant accounting policies (continued)
1. Leave benefits consist of annual leave accrued and other types of leave paid (i.e. sick, military, holiday,
and administrative leave). Leave costs are accumulated in an organizational leave pool and distributed
to programs based on year -to -date in- service salary costs. In- service salaries include salaries paid for
regular time, excluding leave benefit costs. This results in all programs bearing an equitable share of
leave costs and diminishes the circumstantial effects of timing associated with leave usage. Actual leave
benefit costs for the year ended September 30, 2013 are as follows:
Leave benefit costs allocated $ 160,339
In- service salaries $ 821,330
Actual rate 19.52%
Actual leave rates by employee classification (which reflects leave eligibility) are developed and applied
to the year -to -date base of in- service salaries in each program to determine its share of leave costs. In
the aggregate, $981,669 was charged among all programs operated during the fiscal year. Separate
classes of employees are maintained to charge programs in accordance with each employee's leave
benefit eligibility.
2. Employees are defined by class based upon fringe benefit eligibility. Employee fringe benefits are
accumulated in an organizational pool and are prorated by employee class (i.e. eligibility) based on a
year -to -date proportionate share of total year -to -date organizational salaries. Organizational salaries
include salaries paid for regular time, overtime and leave benefit costs. Actual fringe benefit costs for
the year ended September 30, 2013 are as follows:
Fringe benefit costs allocated $ 252,263
Organizational salaries $ 981,669
Actual rate 25.70%
3. Indirect costs consist of joint or common costs supporting all programs such as communication, office
supplies, postage, depreciation and risk insurance. Indirect costs are accumulated in an organizational
pool and distributed to programs based on year -to -date organizational salaries plus fringe benefits.
Actual indirect costs for the year ended September 30, 2013 are as follows:
Indirect cost allocated (including depreciation of $19,022)
Organizational salaries plus fringe benefits costs allocated
Actual rate
$ 61,604
$ 1,233,932
4.99%
4. Direct costs consist of building occupancy costs, equipment lease and maintenance expense, audit and
internal services (printing, library, accounting and data processing). Direct costs are allocated to
programs based on year -to -date organizational salaries plus fringe benefits.
5. Financial Reporting - Programs completed during the fiscal year may have reported interim costs to
grantor agencies, pending the determination of final costs at September 30, 2013. Interim reports may
show higher or lower allocated costs which reflect changing rates after program termination. Final costs
for completed programs can only be determined at the end of the fiscal year.
20
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 1— Summary of significant accounting policies (continued)
Net Position - Net position in government -wide financial statements is classified net investment in capital assets,
restricted and unrestricted. It is the Council's policy to first apply restricted resources when an expense is
incurred for the purpose for which both restricted and unrestricted net position is available. Restricted net
positions represents constraints on resources that are either externally imposed by creditors, grantors,
contributors, or laws or regulations of other governments or imposed by law through state statute.
Fund Balances - In the fund financial statements, fund balances for governmental fund is reported in
classifications that comprise the limitations on the fund in accordance with GASB No. 54, Fund Balance
Reporting and Governmental Fund Type Definitions. The fund balance is reported in five components —
nonspendable, restricted, committed, assigned and unassigned.
Nonspendable includes amounts that cannot be spent because they are either not in spendable form or are
legally or contractually bound. Restricted consists of amounts that have constraints placed on them either
externally by third - parties (creditors, grantors, contributors, or laws or regulations of other governments) or by
law. Committed consists of amounts that can only be used for specific purposes pursuant to constraints
imposed by formal action of the Council. Assigned consists of amounts that are constrained by the Council's
intent to be used for specific purposes, but are neither restricted nor committed. The authority for assigning fund
balance is expressed by the Council Board. Unassigned represents amounts that have not been restricted,
committed or assigned to specific purposes within the general fund.
The Council would typically use restricted fund balance first, followed by committed resources and then
assigned resources, as appropriate opportunities arise, but reserves the right to selectively spend unassigned
resources first to defer the use of these other classified funds.
Accounting Estimates - The preparation of the basic financial statements in conformity with accounting
principles generally accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the basic financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.
Subsequent Events -The Council has evaluated subsequent events from October 1, 2013 to February 10, 2014
in connection with the preparation of these financial statements, which is the date the financial statements were
available to be issued.
21
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 2 — Deposits and investments
A. Deposits and Concentration of Credit Risk
At September 30, 2013, the book balance of deposits was $1,109,817 and the bank balance was $1,145,811.
The Council's bank balances include insured deposits under the Federal Deposit Insurance Corporation and the
remaining balances are collateralized pursuant to Chapter 280 of the Florida Statutes. The Council had $200
petty cash on hand at year end.
B. Investments
Florida Statutes authorize the Council to invest in the SBA's Local Government Investment Pool, certain
obligations of the U.S. Treasury and U.S. Agencies, repurchase agreements, and interest- bearing time deposits
and savings accounts held in banks and savings and loans.
The Council invests funds throughout the year with the SBA Local Government Surplus Funds Trust Fund,
under the regulatory oversight of the State of Florida. Investments in the SBA consist of the Florida PRIME and
the Fund B Surplus Trust Fund ( "Fund B ").
The Florida PRIME has met the criteria as a "2a7 -like" pool; this pool was assigned a rating of "AAAm" by the
Standard and Poor's Rating Service. As of September 30, 2013, the Council had a balance of $75,751 in the
Florida PRIME.
Fund B is accounted for using a fluctuating net asset value pool. The fair value factor at September 30, 2013
was 1.1326 and the weighted average life (based on expected cash flows) of Fund B investments is 4.04 years
at September 30, 2013. However, because Fund B consists of restructured or defaulted securities, there is a
considerable uncertainty regarding the weighted average life. This pool is not rated by any nationally recognized
rating agency. As of September 30, 2013, the Council had a Fund B balance of $17,383 that was recorded at a
fair value of $19,688.
Additional information regarding Fund B may be obtained from the Florida State Board of Administration at
httD: / /www.sbafla.com /prime.
Interest Rate Risk — The Council has no specific policy regarding interest rate risk.
Note 3 — Receivables - allowance for doubtful accounts
At September 30, 2013, there was no allowance for doubtful accounts since all receivables were considered to
be collectible.
22
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 4 — Capital assets
Capital asset activity for the year ended September 30, 2013 was as follows:
Governmental activities:
Capital assets not being depreciated:
Land
Beginning Ending
Balance Increases Decreases Balance
$ 470,041 $ $ - $ 470,041
Capital assets being depreciated:
Equipment, furniture and fixtures 416,151
Landscaping 55,195
Building components 286,570
Building and building improvements 1,874,805
Total capital assets being
depreciated
8,514
312,035
(3,995) 420,670
55,195
286,570
- 2,186,840
2,632,721 320,549 (3,995) 2,949,275
Less accumulated depreciation for:
Equipment, furniture and fixtures (375,174) (19,575)
Landscaping (31,891) (3,679)
Building components (170,679) (19,787)
Building and building improvements (405,496) (58,433)
Total accumulated depreciation
(983,240) (101,474)
Total capital assets being
depreciated, net 1,649,481
Governmental activities capital
assets, net
3,995
(390,754)
(35,570)
(190,466)
(463,929)
3,995 (1,080,719)
219,075 1,868,556
$ 2,119,522 $ 219,075 $ - $ 2,338,597
Depreciation was charged to the following functions:
General government
Financial and administration $ 22,324
Comprehensive planning 60,884
Public safety 10,147
Physical environmental 8,119
Total $ 101,474
23
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 5 — Accounts payable and accrued liabilities
Accounts payables and accrued liabilities at September 30, 2013, were as follows:
Accounts payable $ 193,353
Accrued payroll and related liabilities 28,591
Other 16,897
$ 238,841
Note 6 — Unearned revenue
Unearned revenues in the government -wide and fund financial statements at September 30, 2013 were as
follows:
Development Regional Impact application fees
Advance - grants and contracts
Note 7 — Operating leases
$ 26,379
15,714
$ 42,093
The Council has entered into operating lease agreements for office equipment and an automobile. Minimum
noncancellable lease commitments are as follows:
Year Ending September 30,
2014 $ 14,331
2015 12,108
2016 6,048
2017 5,040
Total $ 37,527
Total rental expense for all operating lease agreements for the year ended September 30, 2013 was $21,107.
Note 8 — Current lease agreements with tenants
Substantially all of the vacant office space of the Council is leased to various other entities for periods of up to 7
years. These leases are classified as operating. Future minimum rentals to be received under non - cancelable
operating leases are as follows:
Year Ending September 30,
2014 $ 175,351
2015 178,775
2016 182,155
2017 185,599
2018 165,168
Thereafter 254,875
Total $ 1,141,923
24
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 9 — Pension plan
All regular Council employees are participants in the Florida Retirement System (the "System "). The System is
a cost - sharing multiple- employer defined benefit plan which is controlled by the State Legislature and
administered by the State of Florida, Department of Administration, Division of Retirement.
Benefits are established by Chapter 121, Florida Statutes, and Chapter 22B, Florida Administrative Code.
Effective July 1, 2011, the Florida Legislature passed Senate Bill 2100 making changes to the System. Benefits
are computed on the basis of age, average final compensation, and service credit. Plan members hired prior to
July 1, 2011 with 30 years of service, regardless of age or at age 62 with 6 years of credited service are entitled
to an annual retirement benefit payable monthly for life, equal to 1.6% of their final average compensation for
each year of credited service. Average final compensation is the average of the employee's five highest fiscal
years of salary earned during credited service. Vested employees with less than 30 years of service may retire
before age 62 and receive reduced retirement benefits.
Plan members hired on or after July 1, 2011 with 33 years of service regardless of age or at age 65 with 8 years
of credited service are entitled to annual retirement benefits payable monthly for life, equal to 1.6% of their final
average compensation for each year of credited service. Average final compensation will be the average of the
employee's eight highest fiscal years earned during credited service. Vested employees with less than 33 years
of service may retire before age 65 and receive reduced retirement benefits.
The Council has no responsibility to the System other than to make the periodic payments required by state
statutes. Beginning July 1, 2011, all plan members (except those in Deferred Retirement Option Program) will
make a 3% employee contribution on a pretax basis. Governmental employers are required to make
contributions to the FRS based on actuarially determined statewide contribution rates.
The following are the contribution rates after rates changes, which became effective July 1, 2013. The rate
applied to regular employee salaries was 6.95 %. The rate includes a 1.11% health insurance subsidy. Total
payroll for the Council employees covered by the system was approximately $952,759 for the year ended
September 30, 2013. The Council's total payroll for the same period was $987,251. The Council's contribution to
the System plan for the years ended September 30, 2013, 2012, and 2011 were $63,747, $52,717 and
$108,754, respectively. These amounts are equal to the required contribution for each year.
The State of Florida annually issues a publicly available financial report that includes financial statements and
required supplementary information for the FRS. The most recent available report is for the plan year ended
June 30, 2010. That report may be obtained by writing to Division of Retirement, P.O. Box 9000, Tallahassee,
FL 32315, or by calling (877) 377 -1737, or accessing their Internet site at www.dms.mvflorida.com /retirement.
Note 10 — Long -term liabilities
In September 2008, a $2,410,000 Revenue Note, Series 2008 (the "Note ") was issued by Mercantile Bank of
Florida, N.A. to refinance the $2,800,000 Revenue Note, Series 2002. The Note is payable in monthly
installments of $17,578 with a final maturity date of September 2023, and bears interest at a fixed rate of 3.74 %.
The Note is secured by a lien upon the Council's pledged revenues which includes fees, rents, and other
revenues. For the current year, principal and interest paid was $210,641 and total pledged revenue was
approximately $998,766.
25
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 10 — Long -term liabilities (continued)
The future debt service requirements of the Note, Series 2008 are as follows:
Fiscal
Year Principal Interest Total
2014 $ 147,004 $ 63,930 $ 210,934
2015 152,676 58,258 210,934
2016 158,420 52,514 210,934
2017 164,680 46,254 210,934
2018 171,034 39,900 210,934
2019 -2023 959,355 95,351 1,054,706
$ 1,753,169 $ 356,207 $ 2,109,376
A summary of changes in long -term liabilities follows:
Balance Balance
October 1, September 30, Current
2012 Additions Reductions 2013 Portion
Compensated absences $ 171,653 $ 113,447 $ (119,030) $ 166,070 $
Note payable - Series 2008
Note 11— Contingency
1,894,702 - (141,533) 1,753,169 147,004
$ 2,066,355 $ 113,447 $ (260,563) $ 1,919,239 $ 147,004
Expenditures incurred by the Council associated with the execution of various grants are subject to audit and
possible disallowances by the grantor agency. Management believes that if audited, any adjustment for
disallowed expenditures would be immaterial.
Note 12 — Fund balance
The Council's fund balance consists of the following categories:
(a) Nonspendable — this classification includes amounts that cannot be spent because they are not in
spendable form, such as prepaid expenses and inventory.
(b) Restricted for Specialty License Plate Expenditures — portion of fund balance restricted for the specialty
license plate program. Expenditures are made according to Florida Statutes 320.08056 and 320.08058.
(c) Assigned for Future Budgetary Years' Deficit — the fiscal 2013 Budget Resolution appropriated the
amount of $55,275 from the fiscal 2013 fund balance for expenditures authorized in excess of
anticipated revenue during fiscal year 2014.
26
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2013
Note 12 — Fund balance (continued)
(d) Assigned for Compensated Employee Absences — portion of the fund balance not available for
appropriation because it represents the year end fund balance reserved for expenditures related to
compensated employee absences.
(e) Assigned for Grant Matching Funds — portion of the fund balance not available for appropriation
because it represents the year end fund balance reserved for expenditures related to fiscal year 2014
grant matching requirements.
(f) Assigned for Development of Regional Impact and Other Council Activities — portion of the fund balance
not available for appropriation because it represents the year end fund balance reserved for
expenditures related to the development of regional impact studies and other council activities for fiscal
year 2014.
(g)
Assigned for Long -term Building Renewal and Replacement — portion of the fund balance not available
for appropriation because it represents the year end fund balance reserved for expenditure for future
building repairs and replacements.
(h) Unassigned — This classification includes the residual fund balance for the general fund.
Note 13 — Change in Accounting Principles
The Council implemented GASB Statement 63, Financial Reporting of Deferred Outflows of Resources,
Deferred Inflows of Resources, and Net Position, and Statement 65, Items Previously reported as Assets and
Liabilities, in the fiscal year ended September 30, 2013. The implementation of GASB Statement 63 required the
Council to present a Statement of Net Position, replacing previously presented Statement of Net Assets, in the
Council's basic financial statements. The implementation of Statement No. 65 did reclass amounts to the inflow
sections of the Statement of Net Position.
Additionally, GASB Statement 65 requires bond issuance costs, which were previously deferred and amortized,
to be expensed when incurred. Previously deferred bond issuance costs totaled $60,795. As a result, net
position as of October 1, 2012 has been adjusted accordingly:
Beginning balances, as previously reported, October 1, 2012
Adjustment for implementation of GASB 65, debt issuance costs
Beginning balances, as restated, October 1, 2012
Other current
assets
Beginning balances, as previously reported, October 1, 2012 $ 2,322,576
Adjustment for implementation of GASB 65, debt issuance costs (60,795)
Beginning balances, as restated, October 1, 2012 $ 2,261,781
Total Net
Position
$ 1,794,620
(60,795)
$ 1,733,825
Debt service -
interest and debt
service
amortization
$ 80,133
(5,558)
$ 74,575
27
GRANT COMPLIANCE
`rso Cherry Bekaert"'
CPAs & Advisors
Report of Independent Auditor 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
To the Council Members
Tampa Bay Regional Planning Council
Pinellas Park, 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 and the general
fund of the Tampa Bay Regional Planning Council (the "Council ") as of and for the year ended September 30,
2013, and the related notes to the financial statements, which collectively comprise the Council's basic financial
statements, and have issued our report thereon dated February 10, 2014.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Council'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 Council's internal control. Accordingly, we do not express an
opinion on the effectiveness of the Council's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial
statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or,
significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that have not
been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Council'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.
28
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity's internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.
Cte.mi7t 461e,L.. z_t_ io
Tampa, Florida
February 10, 2014
29
Cherry Bekaertu'
CPAs & Adyisos
Report of Independent Auditor on Compliance
for Each Major Federal Program and on Internal Control Over
Compliance Required by OMB Circular A -133
To the Council Members
Tampa Bay Regional Planning Council
Pinellas Park, Florida
Report on Compliance for Each Major Federal Program
We have audited Tampa Bay Regional Planning Council's (the "Council ") compliance with the types of
compliance requirements described in the OMB Circular A -133 Compliance Supplement that could have a direct
and material effect on the Council's major federal programs for the year ended September 30, 2013. The
Council's major federal programs are identified in the summary of auditor's results section of the accompanying
schedule of findings and questioned costs.
Management's Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants
applicable to its federal programs.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for each of the Council's major federal programs
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; and OMB Circular A -133, Audits of States, Local Governments, and Non - Profit
Organizations. Those standards and OMB Circular A -133 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 occurred. An audit includes
examining, on a test basis, evidence about the Council's compliance with those requirements and performing
such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal
program. However, our audit does not provide a legal determination of the Council's compliance.
Opinion on Each Major Federal Program
In our opinion, the Council 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 for the year ended
September 30, 2013.
Report on Internal Control Over Compliance
Management of the Council 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 Council's internal control over compliance with the types of requirements that
could have a direct and material effect on each major federal program 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 to test and report on internal control over compliance in accordance with OMB Circular A-
133, 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 Council's internal control over
compliance.
30
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 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 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 that is less severe than a material weakness in internal control over compliance, yet important
enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first
paragraph of this section and was not designed to identify all deficiencies in internal control over compliance
that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal
control over compliance that we consider to be material weaknesses. However, material weaknesses may exist
that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of
internal control over compliance and the results of that testing based on the requirements of OMB Circular
A -133. Accordingly, this report is not suitable for any other purpose.
C/mi77 6..L,,-"' 1. i_ p
Tampa, Florida
February 10, 2014
31
TAMPA BAY REGIONAL PLANNING COUNCIL
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED SEPTEMBER 30, 2013
Federal Grantor/ Federal Grant/
Pass through Grantor/ CFDA Contract
Program Title Number Number
U.S. Department of Commerce
Transfer to
Expenditures Subrecipients
Direct Programs
Economic Adjustment Assistance 11.307 04 -69 -06568 $ 510,760 $ 452,122
Economic Development Support for Planning 11.302 04 -83 -06493 66,841
Organization
Total U.S. Department of Commerce 577,601 452,122
U.S. Department of Energy
Passed through Florida Department of Agriculture
and Consumer Services
Electricity Delivery and Energy Reliability,
Research, Development and Analysis
Energy Efficiency and Renewable Energy
Information Dissemination, Outreach,
Training and Technical Analysis /Assistance
Total U.S. Department of Homeland Security
U.S. Department of Homeland Security
Passed through Florida Division of Emergency
Management
Homeland Security Grant Program
81.122
ARR003
81.117 DE- EE0006310
2010 -SS -T0-0092, 12-
DS- 20- 13 -00 -01 -500, 13-
97.067 DS- 97- 13 -00 -21 -333
318,000 243,630
893 -
318,893 243,630
97,056
Total U.S. Department of Homeland Security 97,056
U.S. Department of Transportation
Passed through Florida Department of Community
Affairs
Interagency Hazardous Materials Public
Sector Training and Planning Grants
14- DT- 75- 13 -00 -21 -183,
20.703 13- DT- B5- 13 -00 -21 -154 67,072
Total U.S. Department of Transportation 67,072
Total Federal Awards $ 1,060,622 $ 695,752
The notes to the schedule of expenditures of federal awards are an integral part of this schedule. 32
TAMPA BAY REGIONAL PLANNING COUNCIL
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
SEPTEMBER 30, 2013
Note 1— Basis of presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Tampa Bay
Regional Planning Council (the "Council ") and is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with accounting principles generally accepted in the
United States of America as applicable to governmental units and the requirements of OMB Circular A -133,
Audits of States, Local Governments, and Non - Profit Organizations.
Note 2 — Contingencies
Expenditures incurred by the Council associated with the execution of various grants are subject to audit and
possible disallowance by the grantor agency. The Council would be held responsible for recovery
(reimbursement to the grantor agency) of disallowed amounts. Management believes that, if audited, any
adjustment for disallowed expenses would be immaterial in amount.
33
TAMPA BAY REGIONAL PLANNING COUNCIL
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED SEPTEMBER 30, 2013
I. Findings - Financial Statements Audit
Financial Statement Section
Type of auditors' report issued:
Internal control over financial reporting:
Material weakness(es) identified?
Significant deficiency(ies) identified not
considered to be material weakness(es)?
Noncompliance material to financial
statements noted
Federal Awards Section
Internal control over major programs:
Material weakness(es) identified?
Significant deficiency(ies) identified not
considered to be material weakness(es)?
Type of auditor's report on compliance for
major programs:
Any audit findings disclosed that are
required to be reported in accordance with
section 510 (a) of OMB Circular A -133
Identification of the major federal program:
Unmodified
yes x
yes x
yes x
no
none reported
no
yes x no
yes x none reported
Unmodified
yes x
no
CFDA Number
11.307
Name of Program or Cluster
U.S. Department of Commerce
Economic Adjustment Assistance
81.122 U.S. Department of Energy
Electricity Delivery and Energy
Reliability, Research, Development
and Analysis
Dollar threshold used to distinguish between type A and type B programs
Auditee qualified as low -risk auditee?
$300,000
x yes no
34
TAMPA BAY REGIONAL PLANNING COUNCIL
SCHEDULE OF FINDINGS AND QUESTIONED COSTS (CONTINUED)
YEAR ENDED SEPTEMBER 30, 2013
II. Findings - Financial Statements Audit
This section identifies the significant deficiencies, material weaknesses, and instances of noncompliance related
to the financial statements that are required to be reported in accordance with Government Auditing Standards.
There were no findings required to be reported by Government Auditing Standards.
III. Federal Award Findings and Questioned Costs
This section identifies the significant deficiencies, material weaknesses, and instances of noncompliance,
including questioned costs, related to the audit of major federal programs, as required to be reported by OMB
Circular A -133.
There were no findings required to be reported by OMB Circular A -133.
Summary Schedule of Prior Audit Findings
A Summary Schedule of Prior Audit Findings is not necessary since there were no prior audit findings.
35
`� Cherry Bekaert
CPAs
Independent Auditor's Management Letter
To the Council Members
Tampa Bay Regional Planning Council
Pinellas Park, Florida
We have audited the financial statements of the Tampa Bay Regional Planning Council (the "Council "), as of
and for the fiscal year ended September 30, 2013, and have issued our report thereon dated February 10, 2014.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America; the standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States; OMB Circular A -133, Audits of States, Local Governments, and
Non - Profit Organizations; and Chapter 10.550, Rules of the Florida Auditor General. We have issued our Report
of Independent Auditor on Internal Control over Financial Reporting and on Compliance and Other Matters
Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards,
Report of Independent Auditor on Compliance for Each Major Federal Program and on Internal Control Over
Compliance Required by OMB Circular A -133 and the Schedule of Findings and Questioned Costs. Disclosures
in those reports and schedule, which are dated February 10, 2014, should be considered in conjunction with this
management letter.
Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General, which
governs the conduct of local governmental entity audits performed in the State of Florida. This letter includes the
following information, which is not included in the aforementioned auditor's reports or schedule.
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding annual financial audit
report. Corrective actions have been taken to address findings and recommendations made in the preceding
annual financial audit report.
Section 10.554(1)(i)2., Rules of the Auditor General, requires our audit to include a review of the provisions of
Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit, nothing
came to our attention that would cause us to believe that the Council was not in compliance with Section
218.415, regarding the investment of public funds.
Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address in the management letter any
recommendations to improve financial management. In connection with our audit, we did not have any such
recommendations.
Section 10.554(1)(i)4., Rules of the Auditor General, requires that we address noncompliance with provisions of
contracts or grant agreements, amounts, or abuse, that have occurred, or are likely to have occurred, that have
an effect on the financial statements that is Tess than material but warrant the attention of those charged with
governance. In connection with our audit, we did not have any such findings.
Section 10.554(1)(i)5., Rules of the Auditor General, requires that the name or official title and legal authority for
the primary government and each component unit of the reporting entity be disclosed in this management letter,
unless disclosed in the notes to the financial statements. Such disclosure is included in the notes to the financial
statements.
36
Section 10.554(1)(i)6.a., Rules of the Auditor General, requires a statement be included as to whether or not the
local governmental entity has met one or more of the conditions described in Section 218.503(1), Florida
Statutes, and identification of the specific condition(s) met. In connection with our audit nothing came to our
attention that would cause us to believe that the Council met any of the conditions described in Section
218.503(1), Florida Statutes.
Section 10.554(1)(i)6.b., Rules of the Auditor General, requires that we determine whether the annual financial
report for the Council for the fiscal year ended September 30, 2013, filed with the Florida Department of
Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial
audit report for the fiscal year ended September 30, 2013. In connection with our audit, we determined that
these two reports were in agreement.
Pursuant to Sections 10.554(1)(i)6.c. and 10.556(7), Rules of the Auditor General, we applied financial condition
assessment procedures. It is management's responsibility to monitor the Council's financial condition, and our
financial condition assessment was based in part on representations made by management and the review of
financial information provided by same.
The purpose of this management letter is to communicate certain matters prescribed by Chapter 10.550 Rules
of the Auditor General. Accordingly, this management letter is not suitable for any other purpose.
Ckmi77,6: p
Tampa, Florida
February 10, 2014
37