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City outlines paving plan using gas-tax funds; 5—cent fund subsidized by general fund
Summary
Staff presented pro-forma projections for the city—s 5—cent and 6—cent gas-tax funds, noting the 5—cent fund receives a $709,000 general-fund subsidy and that a consultant is preparing a more detailed FY25—2030 paving plan using higher-precision mapping.
City staff reviewed Punta Gorda—s gas-tax funds and a paving plan at the June 12 budget workshop, showing the city uses both the additional 5—cent and the 6—cent gas-tax allocations to fund road maintenance and that the 5—cent fund currently receives a general-fund subsidy.
Finance Director Kristen Simonyo said the additional 5—cent gas-tax fund receives a general-fund subsidy of $709,000 and that the city—s estimated annual gas-tax receipts for that fund are roughly $297,000 with an assumed 2% annual growth. A consultant is preparing a FY25—2030 paving plan that uses higher-precision mapping and condition assessments to better prioritize paving and brick repairs.
Simonyo said the 6—cent gas-tax fund pro forma is balanced through FY27 using reserves but will require either a general-fund subsidy or lower expenditures starting in FY28 if revenues do not exceed projections. The city has FDOT contracts that contribute additional revenue for certain projects.
No action was taken at the workshop; staff said the consultant—s paving plan will inform future project selection and the multi-year pro forma for both gas-tax funds.
