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Comprehensive Plan Capital Improvements Element <br /> (3) That the county' s most recent financial reports have been sent to the Department of Banking <br /> and Finance, and post audits of these statements and accounts have been provided. <br /> Table 6 . 1 shows that county revenue sharing funds represented 4-.441 . 12% of all funds collected by <br /> Indian River County in FY 20034/045 . Figure 6. 11 shows that, over the last six fiscal years, county <br /> revenue sharing proceeds received by Indian River County varied over time, but overall decreaseR <br /> increased by 67342 . 87% . <br /> • Constitutional Fuel Tax <br /> Constitutional fuel tax is defined as an excise or license tax of two cents per gallon imposed upon the <br /> first sale or first removal from storage (after importation into Florida) of motor fuel. Revenues from <br /> this levy become state funds at the time of collection by the refiner, importer or wholesaler. <br /> In its current form, the constitutional fuel tax is a state-shared revenue source for counties only. <br /> Applying a distribution formula, the state allocates proceeds to counties to the extent necessary to <br /> comply with all obligations to or for the benefit of holders of bonds, revenue certificates, and tax <br /> anticipation certificates or any refunds secured by any portion of the tax proceeds . After complying <br /> with the necessary debt service obligations, the state distributes a county' s surplus funds to its <br /> governing body. <br /> Table 6 . 1 shows that revenue received from <br /> the constitutional fuel tax levy represented Figure 6. 13: County Fuel Tax <br /> :840 .70% of total revenue received by Indian <br /> River County in FY 20034/045 . Figure 6 . 12 $soo <br /> shows that, over the last six fiscal years, sn9 <br /> constitutional fuel tax revenue received by Ili $aoo ssae $663 $66' _ �92 _ <br /> Indian River County increased 4-8-:8621 .42%. <br /> $soo <br /> • County Fuel Tax $500 <br /> $400 <br /> The county fuel tax is levied on motor fuel at $300 <br /> the rate of one cent per net gallon. The $200 - - <br /> legislative intent of this tax is to reduce a $loo <br /> county' s reliance on ad valorem taxes. Funds $_ - <br /> received from this tax can be used by a 2000 2001 2002 2003 2004 2005 <br /> county for transportation-related expenses, <br /> including the reduction of bond indebtedness ® Revenue (in thousands) <br /> incurred for transportation purposes. - — - <br /> Source: Indian River County Finance Department <br /> Community Development Department Indian River County <br /> 15 <br />