FY12 Adopted Operating Budget & Capital Improvement Budget

City of St. Petersburg, Florida- FY 2012 Adopted Fiscal Plan
FUND DESCRIPTIONS
The City of St. Petersburg uses funds and account groups to
account for its resources as required by the Charter, State
Statutes, and the accounting profession.
Each of the City funds is a fiscal entity, an accounting entity,
and in a sense, a legal entity. Each fund has its own balance
which is accounted for separately. The target balance
amount for each fund is stated in Council’s fiscal policy.
Transfers between funds can be made as long as they are
within the purpose of the fund. An example would be a
payment to Fleet Management for cost incurred on behalf of
Parks and Recreation.
The account groups provide accountability and control of the
City’s general fixed assets and general long-term debt. The
fixed assets and long-term debt associated with proprietary
funds are accounted for in those funds.
The Charter and State Statutes require an annual audit of the
books and records, including the significant accounting
policies of the City and compliance with laws and
regulations. The external auditor concurs with the
accounting policies used by the City and their opinion is
included in the annual financial report.
There are three fund groups: Governmental Funds,
Proprietary Funds, and Fiduciary Funds; and two account
groups: General Fixed Asset Account Group and General
Long-Term Debt Account Group.
GOVERNMENTAL FUNDS
The Governmental Funds are used to account for the
acquisition and use of expendable resources. These funds
reflect balances and measure financial position rather than
net income. They also measure the change in financial
position from the prior year.
The City has four types of Governmental Funds:
General Fund – This fund is used to account for all
financial resources except those required to be accounted for
in another fund.
Special Revenue Funds – These funds account for the
proceeds of specific revenue sources or finance specified
activities as required by law or administrative regulation.
The following comprise the City’s Special Revenue Funds:
Emergency Medical Service (EMS) – Contract revenue
received from Pinellas County to provide EMS services.
Local Housing Assistance – Revenue received under the
State Housing Initiatives Partnership Program (SHIP) to
produce and preserve affordable housing in St. Petersburg.
Law Enforcement – Revenue received under the Florida
Contraband Forfeiture Statute.
Economic Development Grant – Revenue received for
Brownfields Grant programs. Closed effective FY10.
Community Development Block Grant (CDBG) – Revenue
received for community block grants for opportunities to
expand economic opportunities, and provide decent housing
and a suitable living environment for low- and moderateincome
persons
Emergency Shelter Grant – Grant revenue received to
provide homeless persons with basic shelter and essential
supportive services by assisting with operational costs of
shelter facilities.
HOME Program – Grant revenue received that provides
resources to fulfill the City’s Consolidated Plan initiatives
that assist low- and moderate-income persons in meeting
their affordable housing needs.
Neighborhood Stabilization – Grant revenue received from
the U.S. Department of Housing and Urban Development to
assist local governments to address the effects of abandoned
and foreclosed properties.
American Recovery & Reinvestment Act Housing – Grant
revenue received under the American Recovery and
Reinvestment Act (ARRA) for HUD programs under the
Homelessness Prevention and Rapid Re-Housing (HPRP)
program and the Community Development Block Grant -
Recovery (CDBG-R) program that assist persons
experiencing homelessness and to provide funding for
community infrastructure improvements
Police Grant – Grant revenue received through the Edward
Bryne Memorial Justice Assistance Grant Program (JAG).
Community Housing Donations – Revenue received from
Pinellas County to fund multi-family housing for low- to
moderate-income people and permanent rental housing for
those with special needs.
Building Permit – Revenues received from permitting
necessary for the Florida building code.
Utility Tax – Revenue was used to fund the debt service for
outstanding Utility Tax Bonds. Closed effective FY10.
Revenues will go directly to the General Fund.
Local Option Tax – Revenue received from the City’s share
of the Pinellas County Local Option Gas Tax and Local
Option Sales Surtax to fund transportation activities,
purchase public safety vehicles, and make improvements to
parks, buildings, roads, and other infrastructure. Closed
effective FY10. Gas tax will go directly to the General
Fund. Sales Surtax goes to the five local option capital
projects funds.
Franchise Tax – Revenue used as secondary pledge for the
debt service for outstanding Public Improvement Revenue
Bonds. Closed effective FY10. Revenues go directly to the
General Fund.
Fiscal Year 2012 Appendix d - 1 Summary Report