St. Pete ends FY 2020 with surplus
November 16, 2020 - The city of St. Petersburg ended fiscal year 2020 on Sept. 30 with a $2.5 million surplus in the general operating fund, city administrators told the City Council Monday. Tom Green, assistant city administrator, credited the fiscal stewardship of administrators and department directors, and called the performance "outstanding," given the city spent nearly $6.5 million on the Fighting Chance Fund to help 1,340 small businesses and 1,004 residents impacted by the Covid-19 crisis during the fiscal year. That surplus will be added to the general fund balance for the current fiscal year, FY 2021, said Liz Makofske, budget director. That will help offset the impact of other adjustments in the current year's budget that will add $4.4 million in spending. City Council members have set a public hearing for 5 p.m. Thursday, Nov. 19 on the year-end appropriation adjustments to the budget.