palm beach country schedule of expenditures of federal awards anh state financial assistance for the year ended September 30, 2008_part9 pot

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Independent Auditor’s Report

The Honorable Sharon R. Bock
Clerk & Comptroller
Palm Beach County, Florida

We have audited the accompanying financial statements of each major fund, and the aggregate remaining fund
information of the Clerk & Comptroller, Palm Beach County, Florida (the “Clerk”), as of and for the year ended
September 30, 2008, as listed in the table of contents. These financial statements are the responsibility of the
Clerk’s management. 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 of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our
opinions.

As discussed in Note 1, the financial statements referred to above have been prepared for the purpose of complying

with Section 218.39, Florida Statutes, and Section 10.557 (3), Rules of the Auditor General for Local Governmental
Entity Audits. These financial statements are not intended to be a complete presentation of the financial position of
the Clerk as of September 30, 2008, and changes in financial position for the year then ended, in conformity with
accounting principles generally accepted in the United States.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of each major fund and aggregate remaining fund information of the Clerk as of September 30,
2008, and the respective changes in financial position, for the year then ended in conformity with accounting
principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued our report dated June 15, 2009 on our
consideration of the Clerk’s internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, 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 the internal control over financial reporting or on compliance. That report is
an integral part of an audit performed in accordance with Government Auditing Standards and should be considered
in assessing the results of our audit.
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The budgetary comparison schedules and schedule of funding progress are not a required part of the financial
statements, but are supplementary information required by accounting principles generally accepted in the United
States of America. We have applied certain limited procedures, which consisted principally of inquiries of
management regarding the methods of measurement and presentation of the required supplementary information.
However, we did not audit the information and express no opinion on it.

Our audit was conducted for the purpose of forming opinions on the financial statements. The Combining Statement
of Changes in Assets and Liabilities – Agency Fund is presented for purposes of additional analysis and is not a
required part of the financial statements. The Combining Statement of Changes in Assets and Liabilities – Agency

Fund has been subjected to the auditing procedures applied in the audit of the financial statements and, in our
opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.

This report is intended solely for the information and use of the Clerk, management of the Clerk & Comptroller’s office
and the Auditor General, of the State of Florida, and is not intended to be and should not be used by anyone other
than these specified parties.





West Palm Beach, Florida
June 15, 2009
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CLERK & COMPTROLLER
PALM BEACH COUNTY, FLORIDA
BALANCE SHEET - GOVERNMENTAL FUNDS
September 30, 2008
Major
Funds
Public Records Total
General Modernization Governmental
Fund Trust Fund Funds
ASSETS
Cash and cash equivalents 5,658,596$ 19,647,446$ 25,306,042$
Accounts receivable, net 212,470 - 212,470
Due from other county funds 1,128,225 - 1,128,225
Due from other funds 2,710,226 - 2,710,226
Due from other governments 191,108 - 191,108

Other assets 1,632 - 1,632
Total assets 9,902,257$ 19,647,446$ 29,549,703$
LIABILITIES
Vouchers payable and accrued liabilities 2,829,289$ -$ 2,829,289$
Due to other county funds 1,071,298 - 1,071,298
Due to other funds 479,314 2,667,496 3,146,810
Due to other governments 3,580,353 - 3,580,353
Due to individuals 660,000 - 660,000
Other liabilities 1,282,003 - 1,282,003
Total liabilities 9,902,257 2,667,496 12,569,753
FUND BALANCES
Fund balances - 16,979,950 16,979,950
Total fund balances - 16,979,950 16,979,950
Total liabilities and fund balances 9,902,257$ 19,647,446$ 29,549,703$
The notes to the financial statements are an integral part of this statement.
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CLERK & COMPTROLLER
PALM BEACH COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
For the fiscal year ended September 30, 2008
Major Funds
Public Records Total
General Modernization Governmental
Fund Trust Fund Funds
Revenues:
Intergovernmental 661,642$ -$ 661,642$
Charges for services 37,639,840 2,889,024 40,528,864

Fines and forfeitures 6,370,920 - 6,370,920
Investment income 242,758 603,696 846,454
Miscellaneous 2,791,428 - 2,791,428
Total revenues 47,706,588 3,492,720 51,199,308
Expenditures:
Current:
General government 69,591,298 1,875 69,593,173
Capital outlay 737,982 - 737,982
Total expenditures 70,329,280 1,875 70,331,155
Excess of revenues over (under) expenditures (22,622,692) 3,490,845 (19,131,847)
Other financing sources (uses):
Transfers from Board of County Commissioners 16,957,072 - 16,957,072
Transfers to Board of County Commissioners (646,941) - (646,941)
Transfers from other funds 6,312,561 - 6,312,561
Transfers to other funds - (6,312,561) (6,312,561)
Total other financing sources (uses) 22,622,692 (6,312,561) 16,310,131

Net change in fund balances - (2,821,716) (2,821,716)
Fund balances, October 1, 2007 - 19,801,666 19,801,666
Fund balances, September 30, 2008 -$ 16,979,950$ 16,979,950$
The notes to the financial statements are an integral part of this statement.
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CLERK & COMPTROLLER
PALM BEACH COUNTY, FLORIDA
STATEMENT OF NET ASSETS - INTERNAL SERVICE FUND
September 30, 2008
Self-
Insurance

Fund
ASSETS
Cash and cash equivalents 2,662,748$
Accounts receivable, net 334,504
Due from other funds 479,314
Total assets 3,476,566$
LIABILITIES
Due to other funds 42,730
Insurance claims payable 752,000
Other liabilities 7,124
Total liabilities 801,854
NET ASSETS
Unrestricted 2,674,712
Total net assets 2,674,712$
The notes to the financial statements are an integral part of this statement.
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CLERK & COMPTROLLER
PALM BEACH COUNTY, FLORIDA
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS
INTERNAL SERVICE FUND
For the fiscal year ended September 30, 2008
Self-
Insurance
Fund
Operating revenues:
Charges for services 8,431,476$
Total operating revenues 8,431,476
Operating Expenses:

Current:
Self-insurance services 8,401,248
Total operating expenses 8,401,248
Operating Income 30,228
Nonoperating revenues :
Investment income 84,484
Total nonoperating revenues 84,484
Change in net assets 114,712
Net Assets, October 1, 2007 2,560,000
Net Assets, September 30, 2008 2,674,712$
The notes to the financial statements are an integral part of this statement.
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CLERK & COMPTROLLER
PALM BEACH COUNTY, FLORIDA
STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUND
For the fiscal year ended September 30, 2008
Self-
Insurance
Fund

Cash received from customers 961,509$
Cash received from other funds for goods and services 7,056,839
Cash payments to vendors for goods and services (1,413,516)
Cash payments to employees for services (42,730)
Claims paid (6,769,016)
Net cash (used in) operating activities (206,914)
Cash flows from investing activities:

Interest on investments 84,484
Net cash provided by investing activities 84,484
Net decrease in cash and cash equivalents (122,430)
Cash and cash equivalents, October 1, 2007 2,785,178
Cash and cash equivalents, September 30, 2008 2,662,748$
Reconciliation of operating income to net cash provided by (used in) operating activities:
Operating income 30,228$
Adjustments to reconcile operating income to net cash (used in) operating activities:
(Increase) in accounts receivable (334,504)
(Increase) in due from other county funds (180,089)
Decrease in other assets 101,465
(Decrease) in vouchers payable and accrued liabilities (1,140)
(Decrease) in due to other county funds (42,874)
Increase in insurance claims payable 220,000
Net cash (used in) operating activities (206,914)$
The notes to the financial statements are an integral part of this statement.
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CLERK & COMPTROLLER
PALM BEACH COUNTY, FLORIDA
STATEMENT OF FIDUCIARY NET ASSETS - AGENCY FUND
September 30, 2008
ASSETS
Cash and cash equivalents 24,020,447$
Accounts receivable, net 336,447
Due from other governments 101,737
Total assets 24,458,631$
LIABILITIES
Due to other governments 7,066,006$

Due to individuals 17,392,625
Total liabilities 24,458,631$
The notes to the financial statements are an integral part of this statement.
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