Agenda - Council - 06/27/2023 - Laserfiche WebLink

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GENERAL FUND REVENUES The following graph reflects the City's General Fund revenue sources for 2022 compared to budget: Taxes Intergovernmental Fines and Forfeits Licenses and Permits Charges for Services Other General Fund Revenues Budget and Actual 00 00 00 00 00 00 00 00 00 �O �O �O �O D O O O D D D O D DO 00 00 DO 0 Actual ■ Budget General Fund revenue for 2022 was $14,718,976, which was $1,200,136 (8.9 percent) more than budget. The largest variances over budget were in intergovernmental sources ($411,275) and property taxes ($306,001), due to conservative budgeting for grants and strong collection rates in the City. The following graph presents the City's General Fund revenues by source for the last five years. The graph reflects the City's reliance on property taxes, which represented 81.3 percent of General Fund revenues in 2022: General Fund Revenue by Source Year Ended December 31, $1400,000 $1200,000 $1000,000 $8,000,000 $6,000,000 $4,000,000 $2,000M00 Taxes 02018 $914111418 112019 $%9021811 ■ 2020 $1015781482 ■ 2021 $1111841493 ■ 2022 $11,961, 591 Intergovernmental All Other $418J06 $210275444 $4421366 $11960,315 $2,679,428 $7061660 $8851575 $11843,638 $11722J98 $1,871,810 Total General Fund revenue for 2022 was $1,105,625 (8.1 percent) more than last year. The increase in taxes was as anticipated and approved with the annual levy process. Intergovernmental increased, due to recognition of more municipal maintenance funds and a portion of the CSLFRF entitlement was reported in the General Fund in the current year. The increase noted in the "all other" category was in remaining various other miscellaneous sources and charges for services during the current year with elevated development activity. -12-