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The following graph reflects the City's General Fund revenues, budget and actual, for 2014: <br />Taxes <br />Intergovernmental <br />Fines and forfeits <br />Licenses and Permits <br />Charges for Services <br />Other <br />General Fund Revenues <br />Budget and Actual <br />� <br />�O `r0 O `r0 O -`r0 <br />■Actual ■Budget <br />Total General Fund revenues for 2014 were $9,154,981, an increase of $124,271 (1.4 percent) from the <br />previous year and $3,172 more than budget. Actual results were very close to final projections as reflected <br />in the graph above. <br />The following graph presents the City's General Fund revenues by source for the last five years: <br />General Fund Revenue by Source <br />Year Ended December 31, <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 />Taxes Intergovernmental All Other <br />■ 2010 ■ 2011 ■ 2012 ■ 2013 ■ 2014 <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 79.4 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 these sources <br />have leveled off in recent years. <br />During 2014, tax sources reflect an increase of $1,266. The City received $69,159 more <br />intergovernmental revenue in 2014, due to an increase in local government aid received in the current <br />year. The 2014 increase in the category for "all other" ($53,846) above includes an increase in investment <br />earnings as previously discussed for the improved market value of investments. <br />-10- <br />