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The following graph reflects the City's General Fund revenues, budget and actual, for 2019:
<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 />4j°O°- 00 l,'' °°- 0°Oq00 ;90600 J' °%0 fib,°00 g''°00 P'°00 r° 0000 I
<br />600g0
<br />0 00 0 0 00 0 0 0 0 00
<br />0 Actual .Budget
<br />Total General Fund revenues for 2019 were $12,305,492, an increase of $448,524 (3.8 percent) from the
<br />previous year, and $599,160 (5.1 percent) more than budget. The favorable variance was primarily in
<br />licenses and permits and charges for services, which fluctuate with development levels in the City.
<br />Improved investment results (included in "Other" above) also contributed to revenues exceeding budget.
<br />The City's practice to conservatively budget for these categories contributed to revenues surpassing
<br />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 />$12, 00
<br />$10, 00
<br />$8,00
<br />$6,00
<br />$4,00
<br />$2,00
<br />v,vvv
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />I
<br />Taxes
<br />Intergovernmental
<br />All Other
<br />•2015
<br />$7,961,871
<br />$470,713
<br />$1,790,811
<br />02016
<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 />■ 2019
<br />$9,902,811
<br />$442,366
<br />$1,960,315
<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 80.5 percent of
<br />General Fund revenues.
<br />During 2019, tax sources increased by $491,393, due to an increase in the approved General Fund levy.
<br />The City received $24,260 more intergovernmental revenue in 2019. The 2019 decrease in the category
<br />for all other ($67,129) above includes licenses, permits, and charges for services related to less activity
<br />compared to the prior year Improved investment earnings partially offset the decrease in "all other"
<br />revenue sources.
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