Agenda - Council - 02/10/1981 - Laserfiche WebLink

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identifiable, since education and at least one other expenditure category is financed from a general-type fund or funds contain- ing non-tax revenues. In these instances, an education tax amount must be derived. The governments affected are New York City, some places in Alabama, Alaska, Arizona, Maryland, North Carolina, South Carolina, Tennessee, and generally in Connecticut and Virginia. Education taxes are calculated by multiplying the ratio of the available taxes to total available revenue amounts by the education expenditures excluding ded- icated amounts. Available taxes are defined as local tax revenues not restricted to any particular expenditure category. Total available revenue amounts are the sum of unrestricted revenues, and cash and investment assets spent during the year. Dedicated amounts are monies that must be spent on one or more specified ex- penditure categories. loans and reimbursements for tuition costs, hospital care, construction costs, etc. Inter- governmental revenue does not include amounts received from the sale of prop- erty, commodities, or utility services to other governments, or Federal general rev- enue sharing entitlement funds. IV. INTERGOVERNMENTAL TRANSFERS OF REVENUE Intergovernmental transfers are amounts received by a unit of government from other governments in Fiscal Year 1979 (the government's 12-month accounting period that ended between July 1, 1978 and June 30, 1979) for use either for specific func- tions or for general financial support. This amount is derived from the General Reve- nue Sharing Survey and Survey of Local Government Finances conducted by the Bureau of the Census in 1979. The figure includes grants, shared taxes, contingent 12 13