Sarasota County’s total adopted budget for fiscal year 2023, which is the financial plan for funding all operations, totaled $1.5 billion. This includes elected and appointed officials, all County personal services, operating, and capital funding required to maintain the adopted level of service. The fiscal year 2023 total adopted budget decreased by 5.2 percent over the previous year. FUND TYPES A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for a specific activity or objective. Sarasota County, as other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. By law, each fund type must be balanced and may not show a deficit. General Fund – Accounts for the County’s primary operating fund that pays for government operations. Special Revenue Funds – Account for specific revenues that are legally restricted to expenditures for particular purposes. Debt Service Funds – Account for the accumulation of resources for, and the payment of, general long term debt principal and interest. Capital Projects Funds – Account for the acquisition and construction of major capital facilities other than those financed by proprietary and trust funds. Permanent Funds – Account for resources that are legally restricted to the extent that only earnings, not principal, may be used for purposes that support the County’s programs. Enterprise Funds – Account for any activity for which a fee is charged to external users for goods or services. Internal Service Funds – Account for the financing of goods or services provided by one department or agency to other departments or agencies of the government and to other governmental units, on a cost reimbursement basis. 2021 2022 2023 Special Revenue Fund Debt Service Fund Capital Projects Funds Permanent Funds Enterprise Funds Internal Service Funds General Fund BUDGET $200 $300 $400 $500 $600 $700 $800 $100 0 Millions 10 Impact Report 2023 BUDGET BY FUND TYPE Last Three Fiscal Years
RkJQdWJsaXNoZXIy MzM3Mjg=