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REVENUE <br />DESCRIPTION <br />Revenue Manual <br />General Fund <br />State Revenue Sharing <br />Fund 001 <br />The Florida Revenue Sharing Act of 1972 was created by the Legislature to ensure a <br />minimum level of revenue parity across units of local government. <br />LEGAL AUTHORIZATION Florida Statute Sections 210.20(2), 212.20(6), 218.20-.26, 409.915 <br />FOR COLLECTION: <br />SPECIAL Several statutory requirements must be met to participate in the revenue sharing <br />REQUIREMENTS: program beyond the minimum entitlement as stated in Florida Statute 218.23 (1). <br />SOURCE: State receives 2.9% of net cigarette tax collections and 2.044% of <br />sales and use tax collections. Counties receive their portion of the <br />tax collection based on formulas considering population and sales <br />tax collections from the previous year. <br />AUTHORIZED USE: All General Fund expenditures with the exception of funds that can be used as a <br />pledge for indebtedness. <br />METHOD OF PAYMENT: Based on consumer spending, collected by the State and remitted to the County. <br />FREQUENCY OF State remits payment to the County on a monthly basis. <br />COLLECTION: <br />APPROXIMATE $1,400,000 <br />ANNUAL REVENUE: <br />9 <br />2 -sq. V3 <br />