St. Pete had budget surplus for 2nd straight year
For the second straight year ---the entire tenure of Mayor Rick Kriseman--- the city finished with a budget surplus.
After the annual budget cleanup, the city announced this week that it finished the fiscal year that ended on Sept. 30 with a $1.43 million extra in the municipal piggy bank.
The overall budget was $505.6 million. The general fund, which provides much of the city's day-to-day funds, is $224.3 million.
Before last year, the last time the budget was in the black was 2010.
The city put $1 million into reserves last year. This year, it stashed another $500,000 into reserves, bringing the total to more than $46 million.
Rising property values have provided most of the breathing room for the budget in recent years. But the city had enough wiggle room to hire a dozen new police officers for almost $ 1million and build a new fire station for $3.6 million.
“One of the ways we are keeping the promise of our vision to the citizens of St. Petersburg is through stewardship and fiscal responsibility," said Deputy Mayor Kanika Tomalin in a news release.