The SBA has enhanced its website to provide online access to budget, staffing, and spending information. The SBA is self-supporting through “fees for services” and does not receive appropriations from the Legislature. The SBA is governed by a Board of Trustees comprised of Florida’s Governor, Attorney General, and Chief Financial Officer. The Trustees approve the budget annually. Approved budgets are forwarded to the Legislature.
The SBA provides a variety of investment services to state and local government entities in Florida. Major investment responsibilities include the Florida Retirement System Pension Plan, Public Employee Optional Retirement Program (FRS Investment Plan), Florida PRIME and the Florida Hurricane Catastrophe Fund (CAT Fund).
The SBA also administratively supports the Division of Bond Finance and Florida Prepaid College Board programs. Budget information for the Division of Bond Finance is included here, and Florida Prepaid College Board budgets can be found on their website at www.myfloridaprepaid.com.
The SBA operating budget cycle is based on the fiscal year (FY), July 1 through June 30. Operating Budget (including staffing) information for this website is updated monthly. The SBA budget consists of four categories of expenditures: (1) Salaries and Benefits (2) Other Personal Services (3) Expense and (4) Other Capital Outlay. The SBA adheres to the Accrual-Based Generally Accepted Accounting Principles, which recognizes an expense when it is incurred and recorded, not when actual payment is made.