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The following graph reflects the City's General Fund revenue sources for 2020 compared to budget:
<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 />mi
<br />1
<br />7 ,I V ,i' (5' mod' .9 ,10 /
<br />000 , 000 , 000 , 000 s , 000 , 000 , 000 , 000 , O0O , 00 , 00
<br />J 00 � 00 , 00 � 00 , 00 , 00 ' 00 � 00 � 00 0%°o,
<br />O O O O O D O O O
<br />❑ Actual ■Budget
<br />Total General Fund revenues for 2020 were $15,101,548, an increase of $2,796,056 (23.7 percent) from
<br />the previous year, and $2,593,959 (20.7 percent) more than budget. Intergovernmental revenue exceeded
<br />budget by $2,273,833, mainly due to the majority of the CRF federal grant funds, which was not
<br />budgeted, being used to finance General Fund expenditures. The City's practice to conservatively budget
<br />for licenses and permits, charges for services, and other local categories also 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 />$12, 000,000
<br />$10,000,000
<br />$ 8,000,000
<br />$6,000,000
<br />$4,000,000
<br />$2,000,000
<br />$—
<br />Taxes
<br />• 2016
<br />$8,261,529
<br />Intergovernmental
<br />$482,243
<br />02017
<br />$ 8, 594,143
<br />$375,045
<br />All Other
<br />$1, 367,026
<br />$1, 614,114
<br />• 2018
<br />$9,411,418
<br />$418,106
<br />$2,027,444
<br />• 2019
<br />■ 2020
<br />$9,902,811
<br />$10,578,482
<br />$442,366
<br />$1,960,315
<br />$2,679,428
<br />$1,843,638
<br />1
<br />As presented in the graph above, property taxes account for 70.0 percent of General Fund revenues,
<br />which is down, as a percent, from prior years, due to the unanticipated receipt of pandemic -related federal
<br />funding.
<br />During 2020, tax sources increased by $675,671, due to an increase in the approved General Fund levy.
<br />Intergovernmental revenues increased $2,237,062 from last year, mainly due to the federal CRF grant
<br />revenue, as discussed above.
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