Exploring Florida’s Elusive
Revenues: Intergovernmental
and Special District Revenues
Robert J. Eger III
Florida State University
March 21, 2012
LeRoy Collins Institute ~ Carol Weissert, Ph. D., Director
FSU Campus ~ 506 W Pensacola Street Tallahassee FL 32306-1601
850-644-1441 ~ 850-644-1442 fax
Focus of Today’s Presentation
1. Revisiting Intergovernmental Revenues in
Florida Counties
2. The Influence of Florida’s Independent
Districts’ Revenues
3
Background
• Major revenue sources for Florida’s counties
▫ Not complete unless one remembers that Florida
has granted its counties strong home rule powers
• Home rule powers are different for charter and
non-charter counties (extended to each)
▫ Ability to locally develop revenue-- absent conflict
with general or special laws and the constitution
▫ Less what Legislature has taken away from
counties’ power
4
State Per Capita IGR Aggregate
245
Per Capita IGR
225
205
185
165
145
125
5
IRG Definitions
• State Revenue Sharing – multipurpose (county,
public, other)
• State Grants – specified purpose
6
Changes in IGR from 1995-2009
7
Take-Aways
• No direct link between changes in State IGR and
Constitutional Amendments regarding revenue
limits on local governments
• County IGR (shared revenue) has no discernible
pattern regarding volatility
8
SPECIAL DISTRICTS
Special Districts Background
• Statutory
• Independent Districts
• Dependent Districts
 At least one of the following:
 Its governing board is the same as the one for a single county
or a single municipality
 Its governing board members are appointed by the governing
board of a single county or a single municipality
 During unexpired terms, its governing board members are
subject to removal at will by the governing board of a single
county or a single municipality
 Its budget requires approval through an affirmative vote of
the governing board of a single county or a single
municipality
 Its budget can be vetoed by the governing board of a single
county or a single municipality
Current Financial Impact
• Active FY 2009 Districts
▫ 616 Dependent
▫ 1009 Independent
• Functions (Categories with 25 or more Districts)
▫
▫
▫
▫
▫
▫
▫
▫
▫
▫
▫
▫
Airport/Aviation -27
Community Develop – 577
Community Redevelop – 201
Drainage/Water Control – 91
Fire Control and Rescue – 65
Health Care/Hospital – 61
Housing – 119
Library – 32
Neighborhood Improvement – 31
Soil and Water Conservation – 62
Subdivision/Maintenance – 50
All Water/Sewer/Water management/Water Supply - 36
11
Special Districts and Board Member
Property Tax Bills
1.
2.
3.
4.
5.
6.
7.
8.
Northwest Florida Water Management District
Florida Inland Navigation District
South Florida Water Management District
St. John's River Water Management District
Southwest Florida Water Management District
West Coast Inland Navigation District
Florida Keys Mosquito Control
Juvenile Welfare Board of Pinellas Co.
12
These 8 Districts Finances (2010)
Total Assets
$8,583,170,525
Total Liabilities
965,088,605
NA-Invested in Capital Assets
6,061,137,595
Net Assets-Restricted
380,154,352
Net Assets-Unrestricted
1,176,789,973
Net Assets-Total
7,618,081,920
Cash/Cash Equivalents-unrestricted
1,322,245,344
Total Debt (non-current liabilities)
706,547,852
Total Revenues
1,174,200,446
Total Expenses
1,214,629,299
13
Florida Publicly Traded Firms
(2010 10-k)
Total Assets
Total Liabilities
Total Equity
Long-Term Debt
Cash and Cash
Equivalents
Total Revenues
Total Expenses
TECO Energy
$7,278,300,000
$5,107,700,000
$2,170,600,000
$3,148,100,000
Citrix
$3,703,600,000
$1,143,012,000
$2,560,588,000
Harris Corp
$4,743,600,000
$2,553,500,000
$2,190,100,000
$1,176,600,000
Publix
$10,159,087,000
$2,853,495,000
$7,305,592,000
$149,361,000
$67,500,000
$3,487,900,000
$2,861,100,000
$396,162,000
$1,874,662,000
$1,330,526,000
$455,200,000
$5,206,100,000
$3,334,400,000
$605,901,000
$25,328,054,000
$23,406,730,000
14
Board Member Districts & Publicly
Traded Florida Firms (2010 10-k)
TECO Energy
Citrix
Harris Corp
Publix
Total Assets
$7,278,300,000 $3,703,600,000 $4,743,600,000 $10,159,087,000
Total Liabilities
5,107,700,000
1,143,012,000 2,553,500,000
2,853,495,000
Total Equity
2,170,600,000 2,560,588,000 2,190,100,000
7,305,592,000
Long-Term Debt
3,148,100,000
1,176,600,000
149,361,000
Cash/Cash Equivalents
67,500,000
396,162,000
455,200,000
605,901,000
Total Revenues
3,487,900,000
1,874,662,000 5,206,100,000 25,328,054,000
Total Expenses
2,861,100,000
1,330,526,000 3,334,400,000 23,406,730,000
Board Member 8 Districts
Total Assets
$8,583,170,525
Total Liabilities
965,088,605
NA-Invested in Capital Assets
6,061,137,595
Net Assets-Restricted
380,154,352
Net Assets-Unrestricted
1,176,789,973
Net Assets-Total
7,618,081,920
Cash/Cash Equivalents-unrestricted
1,322,245,344
Total Debt (non-current liabilities)
706,547,852
Total Revenues
1,174,200,446
Total Expenses
1,214,629,299
15
How Special Districts Affect You
16
Special Districts
• Special districts may have more cash assets than
firms of similar size
• Special Districts are a formidable component of
government finance
• Special Districts are Special since they remove
the costs of services from direct government
financial statements
• Special Districts are Special in their ability to be
removed from taxpayer “view”