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The following graph reflects the City's General Fund revenues, budget and actual, for 2018:
<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 />cf sec' 000
<br />IoO00�� 0 000O0� O' o 5zoO-0oO 3 0 00000 G 0 -00o -00oO 000O09 0 0OOo0 ?
<br />0
<br />• Actual • Budget
<br />Total General Fund revenues for 2018 were $11,856,968, an increase of $1,273,666 (12.0 percent) from
<br />the previous year, and $704,282 (6.3 percent) more than budget. The change from prior year and
<br />favorable 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. An increase in the tax levy approved also contributed to the increase in revenues.
<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 />$10, 00
<br />$9,00
<br />$8,00
<br />$7,00
<br />$6,00
<br />$5,00
<br />$4,00
<br />$3,00
<br />$2,00
<br />$1,00
<br />kJ,l/lAJ
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />$-
<br />-
<br />All Other
<br />Taxes
<br />Intergovernmental
<br />•2014
<br />$7,272,007
<br />$432,476
<br />$1,450,498
<br />02015
<br />$7,961,871
<br />$470,713
<br />$1,790,811
<br />•2016
<br />$8,261,529
<br />$482,243
<br />$1,367,026
<br />•2017
<br />$8,594,143
<br />$375,045
<br />$1,614,114
<br />■2018
<br />$9,411,418
<br />$418,106
<br />$2,027,444
<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.
<br />During 2018, tax sources increased by $817,275, due to an increase in the approved General Fund levy.
<br />The City received $43,061 more intergovernmental revenue in 2018. The 2018 increase in the category
<br />for all other ($413,330) above includes licenses, permits, and charges for services related to more
<br />development in the City in the current year. Improved investment earnings also contributed to the increase
<br />in "all other" revenue sources.
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