Agenda - Council Work Session - 06/10/2014

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The following graph reflects the City's General Fund revenues, budget and actual, for 2013: Taxes Intergovernmental Fines and forfeits Licenses and Permits Charges for Services Other 0 Actual • Budget Total General Fund revenues for 2013 were $9,030,710, an increase of $486,276 (5.7 percent) from the previous year and $4,305 more than budget. Actual results were very close to final projections as reflected in the graph above. The following graph presents the City's General Fund revenues by source for the last five years: $8,000,000 $7,000,000 $ 6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $— T S T � S Sl St S S 6 J > > X5 0 0 0 ' 00 ' 0 ' 00 ' 0 ' 00 ' 0 ' 00 ' 0 ' 'S0 ' 00 'S0 - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Taxes General Fund Revenue by Source Year Ended December 31, General Fund Revenues Budget and Actual Intergovernmental All Other • 2009 • 2010 • 2011 • 2012 • 2013 The trend of increased reliance on tax revenue and decreasing intergovernmental (primarily state revenue) is typical to Minnesota cities. As presented in the graph above, property taxes account for 80.5 percent of General Fund revenues. The City has received a significant amount of other revenue in the form of licenses, permits, and charges for services relating to new development in past years, but these sources have leveled off in recent years. During 2013, tax sources reflect an increase of $246,902 as anticipated with the increase in the approved levy. The 2013 increase in the category for "all other" ($187,897) above, which includes increases in charges for services and licenses and permits, is partially offset by a negative adjustment to investment earnings as discussed earlier. The City received $51,477 more intergovernmental revenue in 2013, due in part to a fire and rescue grant recognized in the current year. -10-