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

City of St. Petersburg, Florida
FY10 Adopted Fiscal Plan
On March 13, 2007, voters approved a ten year renewal of the “Penny for Pinellas” sales tax
beginning in January, 2010 when the current penny sales tax expires. In prior years, revenue
provided by the “Penny” has allowed the City to fund a majority of the general government capital
improvement program, and the extension of the tax was very important to the City’s ability to
continue to fund needed capital improvements. Over the ten year period of the extension, proceeds
of the tax are expected to be approximately $277 million. The following provides key provisions
of the tax:
The basis for the Penny for Pinellas is rooted in state law. With voter approval, the State
Legislature authorized counties to levy a sales surtax for infrastructure.
The tax has been approved by voters three times beginning in 1989.
Although Pinellas County has chosen to implement the tax on a ten year time frame, the law
allows the tax to be levied for up to 15 years.
It cannot exceed one cent. In Pinellas County, the Penny for Pinellas is the seventh cent of
the county sales tax. Six cents goes to the state, and the seventh goes to the state and gets
remitted back to the county.
Pinellas County shares that one cent with all municipalities in the county via an interlocal
agreement that specifies a distribution based on a population-based formula. St. Petersburg’s
annual share of approximately 18% of the total has averaged approximately $21 million for
the past 13 years.
Penny projects in FY10 total $18.55 million and for the FY10 – FY14 period total $109.202
million. These numbers do not include a designation for a new Police Facility/Emergency
Operation Center of $2.2 million for FY10 and a total of $16.45 million for the five year CIP. The
Penny plan approved by the voters provides for projects in four priority areas and established
funding goals for each of these areas. The following charts show the appropriations for each of the
four areas for FY10 and for the five year CIP. Sales tax revenues have declined statewide and
penny revenues and appropriations have been reduced in all years of the FY10-14 Penny plan.
FY10 PENNY FUNDS
$18.55 Million
30,000
"PENNY FOR PINELLAS" CIP FUNDS
Public Safety
10%
City Facilities
6%
Neighborhood
Infrastructure
47%
25,000
20,000
15,000
10,000
5,000
0
FY 09 FY 10 FY 11 FY 12 FY 13 FY 14
Recreation and
Culture
37%
City Facilities Capital Improvements
Recreation/Culture Capital Improvements
Neighborhood/Cityw ide Infrastructure
Public Safety Capital Improvement
Fiscal Year 2010 A-34 Summary Reports