12/03/2019 - Laserfiche WebLink

Home Browse Search

• County Revenue Sharing The current structure of the county revenue sharing program consists of two revenue sources. Those sources include 2.90% of net cigarette tax collections and 2.0810% of sales and use tax collections. Proceeds are collected by the state and then distributed to eligible counties based on an allocation formula. There are no use restrictions on the distributed revenue; however, there are some statutory limitations regarding those funds being used as a pledge for indebtedness. To receive distribution proceeds through the county revenue sharing program, counties must meet the following criteria: Figure 6.11: County Revenue Sharing by FY $4,000 $3,797 $3,601 $3,797 $3,500 $3,333 $2,894 $3,082 $3,000 $2,500 $2,000 $1,500 P$1,000 $500 12/13 13/14 14/15 15/16 16/17 17/18 ® Revenue (in thousands) Source: Indian River County Finance Deparment (1) Law enforcement officers and firefighters are certified and meet state requirements; (2) Certification of taxable value for a property tax levy is made in a timely and correct manner to the Department of Revenue; (3) The county's most recent financial reports must have been sent to the Department of Financial Services, and post audits of those statements and accounts must have been provided. Table 6.1 shows that county revenue sharing funds represented 1.39% of all funds collected by Indian River County in FY 2017/18. Figure 6.11 shows that, between Fiscal Year 2012/13 and 2017/18, Indian River County's revenue sharing gradually increased. FIGURE 6.12: Constitutional Fuel Tax Revenue by FY $1,900 $1,850 $1,800 $1,750 $1,700 $1,650 $1,600 $1,550 $1,500 $1,450 $1,400 12113 13114 14/15 1516 16/17 17/18 11 Revenue (in thousands) Source: Indian River County Finance Department 173