2023 Sarasota County Consolidated Major Revenue and Debt Report

SIX‑CENT LOCAL OPTION FUEL TAX 2023 Budget: $ 6,640,000 2023 Actual: $ 7,169,022 2024 Budget: $ 6,650,000 Legal Authorization: Florida Statutes, Section 206.41, 206.87, 336.025; County Ordinance 86‑065, as amended by 11‑069 and 16‑002. Description: This tax is a six‑cent tax upon every gallon of motor fuel and special fuel taxable under Parts I and II of Chapter 206, Florida Statutes. The proceeds from the tax are divided among the cities of Sarasota, Venice, North Port, the Town of Longboat Key and the County based upon an interlocal agreement that allocates revenues using official population figures provided by the University of Florida. Retail dealers remit the appropriate tax on all taxable fuels sold within the County to the Florida Department of Revenue. The tax became effective September 1, 2016 and is effective for a thirty‑year period unless it is terminated by the Board of County Commissioners. Uses and Restrictions: This revenue source may be used for any authorized transportation expenditure. Street lighting, traffic signs, traffic engineering, road construction, bridge maintenance, and right‑of‑way maintenance are some examples of authorized transportation expenditures. ADDITIONAL FIVE‑CENT LOCAL OPTION FUEL TAX 2023 Budget: $ 4,820,000 2023 Actual: $ 5,163,364 2024 Budget: $ 4,850,000 Legal Authorization: Florida Statutes, Section 206.41, 206.87, 336.025; County Ordinance 00‑029 as amended by 05‑025. Description: This is an additional five‑cent local option fuel tax levied upon every gallon of motor fuel sold in Sarasota County and taxed under the provisions of Part I of Chapter 206, Florida Statutes. The proceeds from the tax are divided among the cities of Sarasota, Venice, North Port, the Town of Longboat Key and the County based upon an interlocal agreement that allocates revenues using official population figures provided by the University of Florida. Retail dealers remit the appropriate tax on all taxable fuels sold within the County to the Florida Department of Revenue. The tax became effective January 1, 2001. Uses and Restrictions: This tax revenue has been pledged by the County to pay the Five‑Cent Local Option Fuel Tax Revenue Refunding Note, Series 2014 used for expenditures needed to meet the requirements of the capital improvements element of APOXSEE, Sarasota County’s Comprehensive Plan. Expenditures for the construction of new roads, the reconstruction or resurfacing of existing paved roads, or the paving of existing graded roads shall be deemed to increase capacity and shall be included in the capital improvements element of an adopted comprehensive plan. Such expenditures shall not include routine maintenance. ONE‑CENT COUNTY VOTED FUEL TAX 2023 Budget: $ 1,900,000 2023 Actual: $ 2,041,208 2024 Budget: $ 1,900,000 Legal Authorization: Florida Statutes, Sections 206.41, 206.87 and 336.021; County Ordinance 88‑009. Description: The tax is imposed on all motor fuel and special fuel taxable under Chapter 206, Florida Statutes. This tax is divided among the cities of Sarasota, Venice, North Port, the Town of Longboat Key and the County based upon an interlocal agreement that allocates revenues using official population figures provided by the University of Florida. Retail dealers remit the appropriate tax on all taxable fuels sold within the County to the Florida Department of Revenue. The one‑cent per gallon voted fuel tax was approved by a countywide voter referendum in March 1988. Uses and Restrictions: This is a County‑imposed tax for the purpose of paying the expenses of establishing, operating and maintaining a transportation system and related facilities, as well as paying the cost of acquisition, construction, reconstruction, and maintenance of roads and streets. The tax may be used to pay the principal and interest payments on bonds issued for road construction. 10 Consolidated Major Revenue & Debt Report 2023 2023 REVENUE Burns Court, Downtown Sarasota

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