The City's Fiscal Year runs from October 1 to September 30 of each year.   Florida law requires that municipalities adopt an annual "balanced" budget covering this period each year. Under the "balanced budget" concept, revenues and cash balances must equal proposed expenditures for the fiscal year. Once adopted by the City Commission, this budget becomes the City's legal authority to spend funds for the City's operation.

The Finance Department issues all payments for the city and keeps an account of all monies due, all receipts and disbursements, all city assets and liabilities, and all appropriations made by the City Commission.  The department coordinates the annual audit of the city's financial affairs with the independent auditor.
 

Taxes

The Fiscal Year 2010-2011  millage rate for the City of South Pasadena property taxes, or ad valorem taxes is 1.6985.    The millage rate is the rate per each $1,000 of taxable value of your real property (your assessed value less any exemptions).  You may find your assessed property values on your most recent Pinellas County property Tax Bill or at the Pinellas County Property Appraisers Office at http://www.pcpao.org/

Generally, these ad valorem taxes cover the current operating (or general fund) expenses which are not covered by the City's other revenue sources.  Other revenue sources of the City of South Pasadena include Utility Taxes, Franchise Fees, the half cent Sales Tax, Pinellas County EMS and Fire District Funding, other Shared Revenue from the State and County and investment earnings.

The City has a 10% Utility Tax on electric, water, natural gas and oil.  In addition, the city collects a 6% Franchise Fee on electric and natural gas sales within the city.  Residents of South Pasadena are also charged a 6.32% communications services tax on certain telecommunications, cable, direct-to-home satellite and related services, .60% goes to Pinellas County.  Effective October 1, 2001, the Communications Service Tax of 6.32% (plus .60% for county) replaced the Utility Tax and Franchise Fees on Telecommunications and the Franchise Fee on Cable Services.  See the Department of Revenue website for more information:  http://dor.myflorida.com/dor/taxes/GT-800011.html

General Fund

The General Fund accounts for the current annual operating expenditures for all government services which are not required to be accounted for separately. This includes general services such as local fire and police protection, public works and parks, community improvements and general administrative functions.