The Gas Tax Fund is a special revenue fund established to account for the receipt of Local Option Gas Taxes. The use of these funds is legally restricted for transportation related capital improvements or maintenance costs. Florida Statutes 206.41(1)(e), 206.87(1)(c) and 336.025 govern the collection and authorized uses of these revenues. Some of these authorized uses include:

• Public transportation operations and maintenance

• Roadway and right-of-way maintenance and equipment and structures used primarily for the storage and maintenance of such equipment

• Street lighting

• Traffic signs, traffic engineering, signalization, and pavement markings

• Bridge maintenance and operation

• Debt service and current expenditures for transportation capital projects in the foregoing program areas, including construction or reconstruction of roads

Revenues and other sources for the Gas Tax Fund total $1,677,947. This amount includes an available estimated beginning fund balance of $725,747. This is an increase of $76,105, or 4.7% from the fiscal year 2023 adopted budget of $1,601,842. Local Option Gas Taxes comprise the largest share of the Gas Tax Fund revenues and are to be $815,850, or 48.6% of the total revenues and sources of funding.

Excluding beginning fund balance and other sources, recurring revenues total $952,200. This is an decrease of $2,350, or 0.25% from the fiscal year 2023 adopted budget of $954,550.

It is important to note that amended, adopted, and proposed budget numbers include Beginning Fund Balance amounts, while actual and estimated actual do not. In accordance with Generally Accepted Accounting Principles, actual amounts reflect only revenues recognized each year. Beginning Fund Balance represents resources received and recognized in prior years as revenue but are available for appropriation in future years.

Expenditures and other uses for the Gas Tax Fund total $1,677,947. This amount includes an estimated ending reserves balance of $395,161. Fiscal year 2024 expenditures and other uses are balanced with the total revenues and other sources.

Excluding estimated ending reserves balance, debt service, and capital outlay, operating costs are the largest use of expenditures for the Gas Tax Fund total $1,256,179, or 74.9% of the total expenditures and uses. This is an increase of $85,580, or 7.31% from the fiscal year 2023 adopted budget.

It is important to note that amended, adopted, and proposed budget numbers include Reserves, while actual and estimated actual do not. In accordance with Generally Accepted Accounting Principles, actual amounts reflect only expenditures recognized each year. Reserves represent funds that are held for restricted purposes or may be reallocated for specific purposes throughout the fiscal year.