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St. Pete Beach committee reviews preliminary proposed budget, flags FEMA, insurance and parking transfers as major revenue drivers
Summary
The Finance and Budget Committee reviewed a preliminary proposed budget that relies on FEMA reimbursements, insurance recoveries and a newly isolated parking fund; staff outlined reserve targets, a 2.6% cost‑of‑living adjustment and tighter controls to discourage year‑end “spend down.”
The St. Pete Beach Finance and Budget Committee reviewed the city’s preliminary proposed budget and the assumptions behind its revenue and spending forecasts during a July workshop.
Committee members and staff said the budget reflects recent disaster reimbursements and insurance recoveries and includes a newly created parking enterprise fund. Staff told the committee they are projecting ad valorem revenue of about $15.1 million for the year, expect roughly $4 million more in FEMA category A/B reimbursements over the next 12–18 months, and are carrying insurance-recovery estimates and a $3.2 million transfer from the parking fund as part of general fund revenues.
Why it matters: the budget sets staffing, capital and service priorities for the city and shows how disaster-related money and decisions about enterprise…
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