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GENERAL FUND REVENUES
<br />The following graph reflects the City's General Fund revenue sources for 2023 compared to budget:
<br />Property 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 />°°o °o °o o°o °o °o o°o °o °o go„
<br />°o ,00 'Oo 'oo Joo Joo 'oo Joo .00 °o °o °o °o °o
<br />0 0 0 0 0 0 0 0 0 oo oo ' o° o° o0
<br />• Actual • Budget
<br />General Fund revenue for 2023 was $16,896,225, which was $1,698,255 (11.2 percent) more than budget.
<br />The budget variance for revenue was largely due to conservative budgeting with most sources surpassing
<br />budget expectations. Improved investment earnings, elevated development activity, and federal funding
<br />recognized in the current year all contributed to revenues exceeding budget.
<br />The following graph presents the City's General Fund revenues by source for the last five years. The
<br />graph reflects the City's reliance on property taxes, which represented 75.9 percent of General Fund
<br />revenues in 2023:
<br />$14,00
<br />$12, 00
<br />$10, 00
<br />$ 8,00
<br />$6,00
<br />$4,00
<br />$2,00
<br />General Fund Revenue by Source
<br />Year Ended December 31,
<br />�,l1\1�
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />S-
<br />Taxes
<br />Property
<br />ill
<br />All Other
<br />Intergovernmental
<br />■2019
<br />$9,902,811
<br />$442,366
<br />$1,960,315
<br />0 2020
<br />$10,578,482
<br />$2,679,428
<br />$1,843,638
<br />■2021
<br />$11,184,493
<br />$706,660
<br />$1,722,198
<br />®2022
<br />$11,961,591
<br />$885,575
<br />$1,871,810
<br />■2023
<br />$12,827,463
<br />$1,508,405
<br />$2,560,357
<br />Total General Fund revenue for 2023 was $2,177,249 (14.8 percent) more than last year. The increase in
<br />taxes was as anticipated and approved with the annual levy process. Intergovernmental increased, due to
<br />recognition of more federal COVID-19-related entitlements reported in the General Fund in the current
<br />year. The increase noted in the "all other" category was in remaining various other miscellaneous sources
<br />and charges for services during the current year with elevated development activity. Improved investment
<br />earnings also contributed to the increase in other sources.
<br />-10-
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