2020 Consolidated Major Revenue and Debt Report

2020 REVENUE This revenue source is divided into three parts: the frst guaranteed entitlement, the second guaranteed entitlement, and the balance. For Sarasota County, the frst guaranteed entitlement is $1,119,924 annually. The second guaranteed entitlement is $1,148,225 annually. The balance varies from year to year and represents the County’s share of the revenues after deducting the guaranteed entitlements. Uses and Restrictions: The second guaranteed entitlement is pledged to pay principal and interest on the Second Guaranteed Entitlement Revenue Bonds, Series 2013. The balance portion of the revenue may be used to protect the public health, safety, or welfare as determined by the Board of County Commissioners. CONSTITUTIONAL FUEL TAX 2020 Budget: $ 3,381,000 2020 Actual: $ 3,247,429 2021 Budget: $ 3,591,000 Legal Authorization: Article XII, Section 9(c) of the State Constitution, Florida Statutes, Sections 206.41, 206.45, 206.47, 336.023, and 336.024. Description: The constitutional fuel tax is a two- cent per gallon tax upon every gallon of motor fuel sold in the state. The State Board of Administration calculates a distribution factor for each eligible county. The formula is based on a County’s area, population, and previous fscal year’s fuel tax collections to the total of each factor for the State. The tax is collected by the Florida Department of Revenue and is transferred to the State Board of Administration for allocation to the counties. Uses and Restrictions: This tax is used for the acquisition, construction, and maintenance of roads. LOCAL 50-CENT CHARGE E911 2020 Budget: $ 1,989,368 2020 Actual: $ 2,165,530 2021 Budget: $ 2,141,580 Legal Authorization: Florida Statutes, Section 365.171, 365.172, 365.173; County Ordinance 86-084. Description: Under the Emergency Communications Number E911 Act the State collects a fee from users of voice communication services through their service providers. The local exchange carriers operating in Florida are required by law to collect the monthly E911 fee, a maximum of $0.50, from customers. These fees are remitted to the E911 Board and a portion of the fee revenue received, 16 Consolidated Major Revenue & Debt Report 2020 based on the allocation percentages specifed in the Legislation, must be distributed to the counties based on the billing address of the customer service identifers in each county. Uses and Restrictions: These funds shall be used solely to pay recurring and non-recurring costs of providing 911 and E911 service, as provided by the Florida Statutes, Section 365.172(9) and 365.172(10). STATE LEVIED 7TH CENT COUNTY FUEL TAX 2020 Budget: $ 1,493,000 2020 Actual: $ 1,438,509 2021 Budget: $ 1,573,000 Legal Authorization: Florida Statutes, Section 206.41 and 206.60. Description: This tax is a one-cent tax upon every gallon of motor fuel sold in the State. This tax is sent to the State by licensed refners upon the frst sale or frst removal from storage of the fuel. The State remits the tax to each County on a monthly basis. To determine distribution, a formula composed of three components (area, population, and collection) is calculated annually. Uses and Restrictions: These funds must be used solely for the acquisition of rights-of-way; the construction, reconstruction, operation, maintenance, and repair of transportation facilities, roads, and bridges; bicycle paths and pedestrian pathways; or to pay principal and interest on debt incurred for transportation purposes. COMMUNITY DEVELOPMENT BLOCK GRANT 2020 Budget: $ 3,366,131 2020 Actual: $ 2,597,731 2021 Budget: $ 3,930,290 Legal Authorization: Housing and Community Development Act of 1974, Title I, as amended, Public Law 93-383. Description: The Housing and Community Development Block Grant (CDBG) is a federally funded program through the Department of Housing and Urban Development. Funds are reimbursed monthly based on current year expenditures. The program’s intent is to develop viable urban communities, by providing adequate housing and a suitable living environment, and by expanding economic opportunities, principally for persons of low and moderate income. These funds are used to