Prudence in Pinellas, says Commish

Pinellas County did not spend all of the new tax revenue generated during the past few years, but saved a substantial portion of the new property taxes collected. About $65 million was allocated to the county's general fund reserves between 2004 and 2006. This "savings account" is set aside to better position Pinellas County to recover after a hurricane or other natural disaster, to maintain cash flow at the beginning of each new fiscal year and to handle other emergencies. During the last two years, the county has strategically spent down a portion of our reserves, while maintaining a minimum reserve of 15 percent of the general fund balance. More...