Financial Administration

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The information on this website does not and should not be considered an offer to buy or sell securities. In connection with certain outstanding public bond issues of the City of Sarasota, Florida (the “City”), the City files, or causes to be filed, its official statements, its audited financial statements, certain operating data and financial information, and occasional voluntary notices on the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access (“EMMA”) system which can be accessed at http://emma.msrb.org/. The information on EMMA and this website is for informational purposes only and does not include all information which may be of interest to a potential investor, nor does it purport to present full and fair disclosure within the meaning of the applicable securities laws. Such information about the City is only accurate as of its date, and the City undertakes no obligation to update such information beyond its date. No representation is being made that there has not been a change in the affairs of the City since such date. Such information is subject to change without notice and posting of other information on the website does not imply that there has been no change in the affairs of the City since the date of such information. The updating or lack of updating of any information contained on EMMA or this website should not be considered to convey a complete picture of the affairs of the City. Such information concerning past performance should not be relied upon as a forecast of future performance. Third party information is believed to be reliable; however, the City takes no responsibility for its accuracy.

Links

Utility Billing
Purchasing Services
Financial Reports and Plans
Fiscal Policies and Grants
City Taxes and Assessments

Contact Us

1565 First Street
Sarasota, FL 34236
Phone: 941-263-6178
Fax: 941-954-4189

Department	Contact/Email	Phone
Budget and Budget Amendments	Dawn Murray	941-263-6426
Budget and Budget Amendments	Tyler Harris	941-263-6345
Capital Improvement Plan Budget	Kelly Strickland	941-263-6416
Capital Improvement Plan Budget	Dawn Murray	941-263-6426
Audited Financial Reports (ACFR)	Debra Muller	941-263-6419
Audited Financial Reports (ACFR)	Dawn Murray	941-263-6426
Popular Annual Financial Report (PAFR)	Debra Muller	941-263-6419
Popular Annual Financial Report (PAFR)	Dawn Murray	941-263-6345
Citizens Tax Oversight Committee	Kelly Strickland	941-263-6416
Departmental Banking and Accounting	Xianli Johnson	941-263-6347
Payment for Vendor Services	Lisa Shay	941-263-6422
Pre-Annexation Tax Payments	Nannette Santiago	941-263-6178
Monthly Financial Reports	Debra Muller	941-263-6419
Monthly Financial Reports	Richard Barcomb	941-263-6425
Investing of Municipal Funds	Kelly Strickland	941-263-6416
Investing of Municipal Funds	John Broschart	941-263-6411
Property Lease Payments	Nannette Santiago	941-263-6178
Bonds, Debt, and Credit Rating	Kelly Strickland	941-263-6416
Bonds, Debt, and Credit Rating	Richard Barcomb	941-263-6425
City Employee Payroll	Debra Muller	941-263-6419

Financial Reports and Plans

Annual Adopted Budget

Annual Financial Plan prepared and adopted in advance of Fiscal Year (Oct 1 - Sep 30)
Preparation of financial plan aligns with the current City of Sarasota Strategic Plan
Distinguished National Budget Award Winner

Proposed Budget

Adopted Budgets

Amendments to the Adopted Budget

Fiscal Year 2023-24

Fiscal Year 2022-23

Annual Adopted Capital Improvement Plans

Expenses over $50,000 used to create and maintain facilities, land, and major equipment
10-year plan with a 5-year adopted funding schedule

Annual Comprehensive Financial Reports (ACFR)

Record of all actual expenditures and revenues, reported after the close of the fiscal year (October 1 to September 30^th)
Financial statements that comply with the accounting requirements endorsed by the Governmental Accounting Standards Board (GASB)
Excellence in Financial Reporting National Award Winner

Popular Annual Financial Reports (PAFR)

Easy-to-read 12-page Summary of the ACFR (Annual Comprehensive Financial Report)
Designed for Citizens and City Stakeholders
Reported after the close of the Fiscal Year
Excellence in Financial Reporting National Award Winner

Water and Sewer Fund Monthly Status Report

Preliminary/unaudited financial reports
Compares current and previous fiscal year revenues and expenditures
Provided monthly for the City Commission in compliance with City Policy

Departments and “Other” Funds Monthly Status Report

Preliminary/unaudited financial reports
Compares current and previous fiscal year revenues and expenditures
Provided monthly for the City Commission in compliance with City Policy

Annual Debt Reports

MUNICIPAL ADVISOR RULE UNDER THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT OF 2010

The City of Sarasota, Florida has retained the firm of PFM Financial Advisors, LLC, as its Municipal Advisor. The City of Sarasota, Florida is represented by and will rely on PFM Financial Advisors, LLC, to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial products, including investments of bond procedures and escrow investments.

This certificate may be relied upon until March 13, 2023, or until updated on this site earlier.

Proposals may be addressed to:

Kelly Strickland, CPA, CGFO Jay Glover, Managing Director

Director of Financial Administration PFM Financial Advisors, LLC

1565 1st Street 200 S. Orange Ave. Ste 760

Sarasota, Florida 34236 Orlando, Florida32801

gloverj@pfm.com

By publicly posting this written disclosure, the City of Sarasota, Florida intends that market participants receive and use it for purposes of the Independent Registered Municipal Advisor exemption to the SEC municipal advisor rule.

Overview of all of the City’s existing debt
Provides the reasoning for each Bond and Loan
Includes workforce obligations (Pensions and retiree health care)

Investment Reports

Provided after the close of each quarter, and an annual summary
Details the short-term and long-range investments and returns
Prepared by City Investment counselor PFM

Major Revenues Manual

City of Sarasota Major Revenues Manual
Describes fifteen (15) sources of City funding
Published in 2011 to provide a reader-friendly understanding of all revenue sources

Fiscal Policies

Grants Coordination

City of Sarasota Grants Policy and Procedures

Taxes and Assessments

Ad Valorem Taxes

Property Taxes in the City determined by Millage rate
Millage Rate (Amount due per $1,000 of property value) set annually by City Commission
Assessed value of property determined by Sarasota County Property Appraiser
Collection of Property Taxes performed by www.SarasotaTaxCollector.gov

Citizen Tax Oversight Committee

Citizen Tax Oversight Committee

Penny Sales Taxes

Infrastructure surtax to provide proceeds to “finance, plan, and construct infrastructure”
Authorized under Florida § 212.054 and 212.055, and Sarasota County Code Section 114.1
Phase I: September 1, 1989 - August 30, 1999
Phase II: September 1, 1999 - August 30, 2009
Phase III: Sept 1, 2009 – Dec 31, 2024
Phase II Penny Sales Tax Annual Update as of Sept 30, 2017
Phase III Penny Sales Tax Annual Update as of Sept 30, 2017

Bottled and Metered Gas Tax Payments

Sellers of bottled liquid gas and metered natural gas
10% tax on sales remitted to City before the 20^th day of the following month
Authorized by City Code Section 32-17.
Public Service Tax Payment Form (print and send with payment)

Special Assessment and Special Taxing Districts

The City of Sarasota Finance Department oversees the annual budgets of the:

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