During the current fiscal year, new residential and nonresidential construction in the County was valued at $1.0 billion, a 13.2 percent decrease over the prior fiscal year. The County’s investment portfolio maintained a weighted average yield of 5.34 percent for fiscal year 2024. All of these factors were considered in preparing Sarasota County’s budget for the 2025 fiscal year. The Board of County Commissioners adopted a Financial Reserves Policy in fiscal year 2006 to ensure there are adequate levels of fund balance to mitigate risks and ensure stable tax rates. For fiscal year 2024, the General Fund had sufficient fund balance to classify 60 days of General Fund operating expenditures, as this reserve has been used to stabilize the budget over the past years. A copy of the Financial Reserves Policy may be found on the website provided below. In accordance with the Financial Reserves Policy, General Fund classifications are reported for Contingency, Emergency and Disaster Relief at $74.2 million and Budget Stabilization and Economic Uncertainty at $59.4 million. Additionally, $6.4 million of fund balance in the General Fund was assigned for compensated absences. Sarasota County has appropriated $20.8 million of the General Fund’s fund balance for spending in the adopted 2025 budget. For fiscal year 2025, the Board of County Commissioners has assigned $800 thousand to reserves in the General Fund. The reserves are expended as considered and approved by the Board of County Commissioners throughout the 2025 fiscal year. Requests for Information This financial report is designed to provide a general overview of Sarasota County’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information may be addressed to: Sarasota County, Florida Karen E. Rushing Clerk of the Circuit Court and County Comptroller P. O. Box 8, Sarasota, FL 34230-0008 www.sarasotaclerk.com 41
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