FY12 Adopted Operating Budget & Capital Improvement Budget

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City of St. Petersburg, Florida – FY 2012 Adopted Fiscal Plan B. SPECIFIC GUIDELINES 1. General Capital Improvements: General capital improvements, or those improvements not related to municipally-owned enterprises, shall be funded from Governmental Funds revenues or fund balances, the sale of revenue bonds or general obligation bonds, and from special revenues, assessments and grants. a. Pay-As-You-Go Capital Improvements: Pay-as-you-go capital improvements shall be funded from Governmental Funds revenues or fund balances, state and federal grants, special assessments, or other sources of revenue which may become available to the City. In the case of special assessments, abutting property owners shall pay for local neighborhood improvements, unless exempted by Council. Major capital projects related to the delivery of general public services shall be paid from general purpose revenues. The One-Cent Infrastructure Sales Surtax, approved by referendum in November 1989 and approved for second and third ten-year periods in March 1997 and March 2007, shall be used on a pay-as-you-go basis. The City will strive to allocate the sales surtax funds in approximately the same proportions as presented in the 1989, 1997, and 2007 referendum materials. For the third reauthorization, the allocation of sales surtax dollars will be made in the following general proportions: Public Safety Improvements: 15 - 21% Neighborhood/Citywide Infrastructure Improvements: 44 - 54% Recreation & Culture: 20 - 35% City Facility Improvements: 3 - 8% It is recognized that the allocation of funds in any given year of the program may vary significantly from these parameters due to prioritization and scheduling of projects, and that significant reductions in Penny proceeds may require an amendment of these percentages. b. Special Assessments: When special assessments are used for general capital improvements, demolitions, lot clearing, or reclaimed water system extensions, the interest rate charged will be established by City Council consistent with State law. c. Revenue Bond Debt Limit: Sale of revenue bonds shall be limited to that amount which can be supported from Non-Ad Valorem revenues, including covenant revenue debt. The total net annual governmental revenue bond debt service shall not exceed 25% of the total governmental purpose revenue and other funds available for such debt service, less all Ad Valorem tax revenues. Net annual debt service shall be gross annual debt service less estimated interest on Debt Service Reserve Accounts and funds from other governmental units designated for payment of such debt service. d. Private Activity Revenue Bonds: Private Activity Revenue Bonds will be limited to the issuing authority of the St. Petersburg Health Facilities Authority. The St. Petersburg Health Facilities Authority will review all bond applications and submit a recommendation to the City Council. The City and its Health Facility Authority will not be obligated either directly or indirectly for any debt service requirements. Fiscal Year 2012 B-13 Summary Reports
City of St. Petersburg, Florida – FY 2012 Adopted Fiscal Plan 2. Enterprise Capital Improvements: a. Pay-as-you-go Improvements: Enterprise funds should support needed capital improvements on a pay-as-you-go basis to the greatest extent possible, except where analysis shows that it is in the city’s best interest to issue debt for such improvements. Water Resources funds payas-you-go projects in accordance with the minimum bond covenant requirement. b. Revenue Bond Debt Limit: Enterprise revenue bonds shall be used to finance revenueproducing capital facilities of the Enterprise Fund. Bond coverage will be provided from the Enterprise revenue sources, and may include General Fund revenue support. c. State Revolving Loan Fund: The Public Utilities Fund has available a federally-funded, below-market interest rate loan pool. This pool may be used whenever its use is feasible and in the best interest of the City. Fiscal Year 2012 B-14 Summary Reports
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CITY OF ST. PETERSBURG FLORIDA Adop
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CITY OF ST. PETERSBURG OPERATING BU
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USING THIS ONLINE VERSION: THROUGHO
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City of St. Petersburg, Florida- FY
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Section A EXECUTIVE SUMMARY
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City of St. Petersburg, Florida - F
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Section F DEBT SERVICE
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Section G CITY DEVELOPMENT
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Department Mission Statement City o
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Section H GENERAL GOVERNMENT
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Section J PUBLIC SAFETY
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Section K PUBLIC WORKS
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Objective and Performance Measure C
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Section L Capital Improvement Progr
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Section M Capital Improvement Progr
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Project Descriptions City of St. Pe
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Section Q Capital Improvement Progr
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APPENDICES
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Look At What We Can Accomplish! ST.
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FY12 Adopted Operating Budget & Capital Improvement Budget

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