FY12 Adopted Operating Budget & Capital Improvement Budget

City of St. Petersburg, Florida – FY 2012 Adopted Fiscal Plan
Major capital facilities and improvements, which are accounted for by the City within the Capital Projects
Funds are subject to budgetary control on a project and fund basis. Appropriations for a specific project do
not lapse until completion of the project.
Encumbrances
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure
of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an
extension of formal budgetary integration. Encumbrances outstanding at fiscal yearend are carried forward
and re-appropriated in the following year.
Budget Basis of Accounting
Budgets presented for Governmental Funds have been prepared on the modified accrual basis of accounting,
except for encumbrances and the net increase (decrease) in the fair value of investments. Encumbrances are
part of the overall budgetary control process and thus are included in the actual column with the related
expenditures when a comparison with budget is made. Similarly, the net increase (decrease) in the fair value
of investments is excluded from related revenues when a comparison with budget is made. Depreciation is
not included in budgetary statements since it is not a use of expendable resources. For management decision
and control purposes, enterprise debt service, capital project funds, and some reserve accounts, are budgeted
separately, whereas in the financial statements, these funds are combined with the corresponding operating
fund.
Fiscal Year 2012 A-39 Summary Reports