Submitted By: Cindy Krepps
presenter
Presentation By: Tammi Haslam
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Department: Budget
STAFF RECOMMENDATION (Motion Ready):
title
Adopt Budget Resolution 2025-123 amending the Fiscal Year 2024-25 budget to appropriate revenue and expenditures from the renewed Infrastructure Surtax in the amount of $9,116,456
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OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
PROOF OF PUBLICATION:
N/A
body
BACKGROUND:
Section 212.055(2) Florida Statutes provides for the levy of a local government infrastructure surtax (sales tax) by the governing body of each county. The levy of the sales tax requires that the county place it before a vote of the electors via referendum. A majority vote of the electorate is required for passage of the referendum. The proceeds of the sales tax shall be distributed to the county and municipalities within the county according to the formula provided in section 218.62, Florida Statutes.
In 2016, the Infrastructure Surtax was approved by 55 percent of Marion County voters to fund public safety improvements and major road projects throughout the county for four calendar years.
In 2020, 70 percent of Marion County citizens voted to renew the Infrastructure Surtax for an additional four years.
At a workshop on March 10, 2021, the City Council directed staff to allocate the tax proceeds as follows:
60% to transportation expenditures
20% to Police department expenditures
20% to Fire department expenditures
In 2024, 62.37 percent of Marion County citizens voted to renew the Infrastructure Surtax for an additional twenty years.
FINDINGS AND CONCLUSIONS:
Section 212.055(2) Florida Statutes provides for the levy of a local government infrastructure surtax (sales tax) by the governing body of each county. In 2024, 62.37 percent of Marion County citizens voted to renew the Infrastructure Surtax for an additional twenty years.
FISCAL IMPACT:
Appropriate funds totaling $9,116,456 for Fiscal Year 2024-25 from the renewed Infrastructure Surtax into 120-312-000-000-12-31250.
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
• Adopt with Changes
• Table
• Deny
BUDGET RESOLUTION 2025-123
A RESOLUTION AMENDING THE FISCAL YEAR 2024-25 BUDGET TO APPROPRIATE THE RENEWED INFRASTRUCTURE SURTAX REVENUE AND EXPENDITURES TOTALING $9,116,456
WHEREAS, Section 212.055(2) Florida Statutes provides for the levy of a local government infrastructure surtax (sales tax) by the governing body of each county; and
WHEREAS, the levy of the sales tax requires the county to place it before a vote of the electors via referendum. A majority vote of the electorate is required for passage of the referendum; and
WHEREAS, the proceeds of the tax shall be distributed to the county and municipalities within the county according to the formula provided in section 218.62, Florida Statutes; and
WHEREAS, in 2016, and again in 2020, the Infrastructure Surtax was approved by Marion County voters to fund public safety improvements and major road projects throughout the city for four calendar years; and
WHEREAS, on March 10, 2021, the City Council directed staff to allocate the sales tax proceeds as follows:
60% to transportation expenditures
20% to Police department expenditures
20% to Fire department expenditures
WHEREAS, on November 5, 2024, 62.37 percent of Marion County citizens voted to renew the Infrastructure Surtax for an additional twenty years; and
WHEREAS, the Fiscal Year 2024-25 adopted budget included three months of revenues and expenses pending the the election results; and
WHEREAS, the remaining nine months of revenues and expenses need to be appropriated into the budget.
NOW, THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF OCALA, FLORIDA, duly assembled in regular session, that the Fiscal Year 2024-25 budget be amended as follows:
Source:
120-312-000-000-12-31250 Infrastructure Surtax - CY21 9,116,456
Use:
120-099-999-521-81-99999 Reserve For Fund Balance 5,469,874
120-099-999-522-81-99999 Reserve For Fund Balance 1,823,291
120-099-999-541-81-99999 Reserve For Fund Balance 1,823,291
This resolution adopted this ______ day of ______________________, 2024.
ATTEST: CITY OF OCALA
By: By:
Angel B. Jacobs Kristen Dreyer
City Clerk President, Ocala City Council
Approved as to form and legality:
By: _________________________________
William E. Sexton
City Attorney
Reviewed for accounting accuracy & completeness:
By: _________________________________
Peter A. Lee
City Manager