TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, Interim City Manager
TITLE: Interlocal Agreements with Sarasota County for the Local Option Fuel Tax Revenue Distribution
Recommended Action
Approve Interlocal Agreements with Sarasota County for the Local Option Fuel Tax Revenue Distribution.
Background Information
Sarasota County currently levies a 6-cent per gallon local option gas tax, implemented by Sarasota County Ordinance 86-65, as amended by Ordinance 2011-069, reauthorized by Ordinance 2016-002, and an additional 5-cent per gallon local option gas tax, implemented by Sarasota County Ordinance No. 2000-029, as authorized by Florida Statute 336.025. Florida Statutes provide that the County may establish, by Interlocal Agreement with the municipality or municipalities located therein representing a majority of the incorporated area population within the County, a distribution formula for dividing the proceeds of the tax among the County and all eligible municipalities within, based on population figures to be reviewed annually.
Sarasota County has requested that the Interlocal Agreements, regarding the distribution formula for allocation of revenue from Local Option Fuel Tax, 6-cent per gallon and 5-cent per gallon respectively be included on the April 25, 2017 City of North Port Commission agenda for consideration and approval by the City Commission. Once the Interlocal Agreements are approved and signed by the Mayor, the agreements will be presented to the Sarasota Board of County Commissioners for approval on July 11, 2017. After approval and signature, the five originals will be filed with the State Department of Revenue by October 1, 2017, as required. Fully executed originals of the Interlocal Agreements will be provided to the North Port City Commission upon completion.
The City’s portion of the local option fuel taxes will increase from 15.8726% to 16.1366%. Actual revenue estimates are provided by the State during the budget process.
Strategic Plan
Financially Responsible City Providing Quality Municipal Services.
Financial Impact
Actual revenue estimates will be provided by the State during the budget process.
Procurement
N/A
Attachments:
1. Interlocal Agreement Regarding Distribution Formula for Allocation of Revenue from Local Option Fuel Tax
2. 2016 Interlocal Agreements Regarding Distribution Formula for Allocation of Revenue from Local Option Fuel Tax
Prepared by: Charlina L. Lowrie, CGFO, Interim Finance Director
Department Director: Charlina L. Lowrie, CGFO, Interim Finance Director