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The following graph reflects the City's General Fund revenues, budget and actual, for 2017:
<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 />000000 000000 00'000 000000 000000 0000O0 000000 000000 000000
<br />• Actual • Budget
<br />Total General Fund revenues for 2017 were $10,583,302, an increase of $472,504 (4.7 percent) from the
<br />previous year, and $217,355 (2.1 percent) more than budget. The change from prior year and favorable
<br />variance was primarily in licenses and permits and charges for services, which fluctuate with
<br />development levels in the City. Conservative budgeting for these categories contributed to revenues
<br />surpassing budget.
<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 />$9,000,000
<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 />102013
<br />■ 2014
<br />•2015
<br />1•2016
<br />1 ■ 2017
<br />Taxes
<br />$7, 270,741
<br />$7,272,007
<br />$7,961,871
<br />$8,261,529
<br />$ 8, 594,143
<br />Intergovernmental All Other
<br />$363,317 $1,396,652
<br />$432,476 $1,450,498
<br />$470,713 $1,790,811
<br />$482,243 $1,367,026
<br />$37 5,045 $1, 614,114
<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 81.2 percent of
<br />General Fund revenues.
<br />During 2017, tax sources reflect an increase of $332,614 due to an increase in the approved General Fund
<br />levy. The City received $107,198 less intergovernmental revenue in 2017. The 2017 increase in the
<br />category for all other ($247,088) above includes licenses, permits, and charges for services related to
<br />more development in the City in the current year. Improved investment earnings also contributed to the
<br />increase in "all other" revenue sources.
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