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The following graph reflects the City's General Fund revenues, budget and actual, for 2012: <br />Taxes <br />Intergovernmental <br />Fines and forfeits <br />Licenses and Permits <br />Charges for Services <br />Other <br />$8,000,000 <br />$7,000,000 <br />$6,000,000 <br />$5,000,000 <br />$4,000,000 <br />$3,000,000 <br />$2,000,000 <br />$1,000,000 <br />$— <br />1 <br />• <br />1 <br />OO -0 S 0 S -0 s - s =0 s -0 s -0 <br />O 0 0 A 12 0 0 A A A 12 A1919191212 <br />Total General Fund revenues for 2012 were $8,544,434, a decrease of $111,446 (1.3 percent) from the <br />previous year and $4,526 more than budget. Actual results were very close to final projections as <br />reflected in the graph above. <br />The following graph presents the City's General Fund revenues by source for the last 10 years: <br />General Fund Revenue by Source <br />Year Ended December 31, <br />Taxes <br />General Fund Revenues <br />Budget and Actual <br />• Actual • Budget <br />Intergovernmental <br />All Other <br />• 2003 • 2004 ❑ 2005 • 2006 • 2007 • 2008 •2009 • 2010 • 2011 • 2012 <br />The trend of increased reliance on tax revenue and decreasing intergovernmental (primarily state revenue) <br />is typical to Minnesota cities. As presented in the graph above, property taxes account for 82 percent of <br />General Fund revenues. The City has received a significant amount of other revenue in the form of <br />licenses, permits, and charges for services relating to new development in past years, but as displayed in <br />the graph above, these sources have declined and leveled off with the slowing economy. <br />During 2012, tax sources reflect an increase of $398,951 while the decrease in the other category was <br />primarily due to reduced charges for services of $556,183. Property tax revenue increased $284,683, due <br />to the elimination of MVHC aid subtraction. <br />-12- <br />