adopted operating & capital improvement budget - City of St ...

City of St. Petersburg, Florida
FY 2010 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.
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 Trust - Revenue received under
the State Housing Initiatives Partnership Program (SHIP)
to produce and preserve affordable housing in St.
Petersburg.
Parking - Downtown parking revenue used for parking
improvements and debt service for Public Improvement
Revenue Bonds.
Law Enforcement Trust - Revenue received under the
Florida Contraband Forfeiture Statute.
Law Enforcement Block Grant - Revenue received for law
enforcement grant programs.
Economic Development Grant - Revenue received for
Brownfields Grant programs.
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 moderate-income 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.
Miscellaneous Trusts – Revenues received for an
aggregate of many diverse trust funds that can only be
used for the specific purpose of that fund.
Community Housing Trust – 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 for the Florida
building code.
Mahaffey Theater – Accounts for the operation of the
Mahaffey Theater at the Progress Energy Center for the
Arts.
Pier – Accounts for the operation of the downtown
waterfront retail/restaurant complex.
Coliseum – Accounts for the operation of the historic
ballroom/exhibit hall.
Sunken Gardens – Accounts of the historic botanical
gardens.
Tropicana Field – Accounts for the operation of the
domed baseball stadium.
Utility Tax - Revenue used to fund the debt service for
outstanding Utility Tax Bonds.
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.
Franchise Tax - Revenue used as secondary pledge for the
debt service for outstanding Public Improvement Revenue
Bonds.
Excise Tax - Revenue used to fund the debt service for
outstanding Excise Tax Secured Revenue Bonds.
Fiscal Year 2010 Z - 15 Summary Reports