Agenda - Council - 06/14/2022 - Laserfiche WebLink

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The following graph reflects the City's General Fund revenue sources for 2021 compared to budget: General Fund Revenues Budget and Actual Taxes Intergovernmental Fines and Forfeits Licenses and Permits Charges for Services Other 190 � 190 �00 �00 �00 �00 �00 �00 �00 �00 �00 �00 O O �O 000 O O O O O O O O O 00 00 00 J ❑ Actual ■Budget Total General Fund revenues for 2021 were $13,613,351, a decrease of$1,488,197 (9.9 percent) from the previous year, and $652,203 (5.0 percent) more than budget. The City's practice to conservatively budget for intergovernmental revenue, licenses and permits, and charges for services, along with active development in the City contributed to revenues surpassing budget. The following graph presents the City's General Fund revenues by source for the last five years: General Fund Revenue by Source Year Ended December 31, $1200,000 $101 000,000 $8,000M00 $610001000 $4X0,000 $2,000,000 $_ Taxes Intergovernmental All Other ■2017 $8,5941143 $375M45 $L6141114 ❑2018 K411,418 $418,106 $2,027,444 ■2019 $919021811 $442,3 66 $060,315 112020 $M578,482 $21 679,428 $L 843,638 2021 $1111845493 $70600 $117225198 As presented in the graph above, property taxes account for 82.2 percent of General Fund revenues, which is up, as a percent, from fiscal 2020, due to significant pandemic-related federal funding in the prior year. During 2021, tax sources increased by $606,011, due to an increase in the approved General Fund levy. Intergovernmental revenues decreased $1,972,768, mainly due to the federal CRF grant revenue that was received in the prior year. Remaining General Fund revenues were down $121,440, primarily due to changes in rates of return and market adjustments on the City's investment portfolio. -10-