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Comprehensive Plan Capital Improvements Element (3) The county's most recent financial reports must have been sent to the Department of Banking and Finance, and post audits of those statements and accounts must have been provided. Table 6.1 shows that county revenue sharing funds represented 1.32% of all funds collected by Indian River County in FY 2010/11. Figure 6.11 shows that, over the last six fiscal years, revenue sharing proceeds received by Indian River County has varied, but overall has decreased by 14.69%. • Constitutional Fuel Tax The constitutional fuel tax is defined as an excise or license tax of two cents per gallon of motor fuel, imposed upon the first sale or first removal from storage (after importation into Florida). Revenues from this levy become state funds at the time of collection by the refiner, importer or wholesaler. In its current form, the constitutional fuel tax is a state -shared revenue source for counties only. Applying a distribution formula, the state allocates proceeds to counties to the extent necessary to comply with all obligations to or for the benefit of holders of bonds, revenue certificates, and tax anticipation certificates or any refunds secured by any portion of the tax proceeds. After complying with the necessary debt service obligations, the state distributes a county's surplus funds to its governing body. FIGURE 6.12: Constitutional Fuel Tax Revenue $1,750 $1729 $17E $1,700 $1,650 $1,600 $1593 $1,550 $1,500 $1,450 2006 2007 2008 2009 2010 2011 ■ Revenue (in thousands) ----- $1,616 $'575 $1580 Table 6.1 shows that revenue received Source: Indian River County Finance Department from the constitutional fuel tax levy represented 0.79% of total revenue received by Indian River County in FY 2010/11. Figure 6.12 shows that, over the last six fiscal years, constitutional fuel tax revenue received by Indian River County decreased 7.87%. Community Development Department Adopted , 2012, Ordinance 2012- Indian River County 15