The County has incurred substantial costs related to multiple open federally declared disasters. Per the Office of Management and Budget (OMB) Compliance Supplement, any reimbursements from the Federal Emergency Management Agency (FEMA) under CFDA 97.036 are not to be recognized as expenditures for purposes of the Schedule until the respective Project Worksheets (PW) have been obligated. As of September 30, 2025, some of the County’s PWs from these federally declared disasters had not yet been obligated by FEMA. Other reimbursable costs require amendment to some of the County’s PWs that have not yet been approved and are therefore not reportable on the Schedule. The County entered into a single grant agreement with the Florida Division of Emergency Management (FDEM) applicable to all PWs for Hurricane Matthew. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Matthew. Combined total FEMA revenues (not including state matching) of $18,388,623 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $17,764,185 have been recorded on the Schedule to date. A cumulative difference of $624,438 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved. For Hurricane Irma, FDEM changed its disaster assistance agreement process and all PWs were initially contracted for individually, after each PW was approved by FEMA. This methodology was changed during the fiscal year ended September 30, 2019, with one final contract amendment entered into to capture all remaining expenditures. Consequently, this amendment allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Irma. Combined total FEMA revenues (not including state matching) of $18,328,850 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $18,038,782 have been recorded on the Schedule to date, including $82,110 overreported on prior-year Schedules due to changes in expected grant eligibility subsequent to reporting; accordingly, $17,956,492 reflects the adjusted amount reportable for expenditures obligated to date. A cumulative difference of $372,178 exists between revenue recognized for financial statement purposes and the adjusted revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved. The County entered into a single grant agreement with FDEM applicable to all PWs for Hurricane Ian. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Ian. Combined total FEMA revenues (not including state matching) of $14,402,227 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $8,221,722 have been recorded on the Schedule to date, including $1,274 overreported on prior-year Schedules due to changes in expected grant eligibility subsequent to reporting; accordingly, $8,220,448 reflects the adjusted amount reportable for expenditures obligated to date. A cumulative difference of $6,181,779 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved. The County entered into a single grant agreement with FDEM applicable to all PWs for Hurricane Nicole. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Nicole. Combined total FEMA revenues (not including state matching) of $5,555,963 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $662,488 have been recorded on the Schedule to date. A cumulative difference of $4,893,475 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved. The County entered into a single grant agreement with FDEM applicable to all PWs for Hurricane Milton. The existence of this agreement allows the County to accrue revenue for financial statement purposes for all expenditures incurred related to Hurricane Milton. Combined total FEMA revenues (not including state matching) of $12,754,701 have been recorded on the financial statements in all fiscal years to date. Amounts totaling $5,672,852 have been recorded on the Schedule to date. A cumulative difference of $7,081,849 exists between revenue recognized for financial statement purposes and revenue reported on the Schedule. This amount will be recognized on the Schedule in the fiscal year in which the PW is obligated, or the PW amendment is approved.
On June 22, 2021, the County approved entering into an agreement with the State of Florida Department of Transportation to borrow up to $11,239,566 for the design and construction of SunRail Phase II North. The funding will come from the department’s federally funded state infrastructure bank, under Assistance Listing Number 20.507. The final draw from the state infrastructure bank was completed during the fiscal year ended September 30, 2025. Draws totaling $11,192,873 have been recorded on the financial statements in all fiscal years to date and the County has a total outstanding loan amount of $9,594,020 as of September 30, 2025.