FY12 Adopted Operating Budget & Capital Improvement Budget

City of St. Petersburg, Florida – FY 2012 Adopted Fiscal Plan
8. Funds which fall below their established fund balance target by 10% or more for two
consecutive years will be reviewed by administration. If it is determined that the fund
balance target level is still appropriate, a corrective action plan to restore the fund to the
appropriate level will be submitted to City Council for their approval.
9. All fund balance targets will be reviewed annually, as part of the budget process, to
determine if adjustments need to be made.
B. SPECIFIC GUIDELINES FOR INDIVIDUAL FUNDS
1. General Fund
a. The General Fund is the principal operating fund of the City and will account for activities
that are not reported in another type of fund.
b. It is the objective of the City to pay operating expenses of the General Funds from sources
other than ad valorem taxes. Only when non-ad valorem tax sources of revenue are
inadequate to support services at desired levels should ad valorem taxes be considered for
assessment. Ad valorem taxes shall be earmarked to support the City of St. Petersburg Police
and Fire departments.
c. Service charges and fees for all General Fund services will be analyzed to ensure an
appropriate proportional recovery of direct costs and overhead.
d. Available funds accruing in an Enterprise Fund which are not needed for working balance or
future planned improvements may, at Council’s discretion, be transferred to the General
Fund as an annual, budgeted Return on Investment or Equity, except where prohibited by
bond covenants or other legal requirements. This will be encouraged wherever feasible.
2. Special Revenue Funds
a. Special Revenue Funds will be used to account for and report the proceeds of specific
sources that are restricted, committed, or assigned to expenditure for specified purposes other
than debt service or capital projects.
b. The Emergency Medical Services Fund will be budgeted to be fully supported by revenue
from Pinellas County.
3. Capital Projects Funds:
a. Are used to account for and report financial resource that are restricted, committed, or
assigned to expenditure for capital outlays, including the acquisition of construction of
capital facilities and other capital assets.
b. Exclude those types of capital-related outflows financed by proprietary funds or for assets
that will be held in trust for individuals, private organizations, or other governments.
4. Debt Service Funds:
a. Are used to account for and report financial resources that are restricted, committed, or
assigned to expenditure for principal and interest.
Fiscal Year 2012 B-8 Summary Reports