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General Fund (continued)
<br />FINANCIAL SECTION (continued)
<br />The fund balance in the General Fund is used to provide working capital for the fund until property tax and state aid
<br />settlements, which are received two times per year, are collected. Policy had been established during 1992, that
<br />provided the level of the undesignated- reserved for working capital portion of fund balance at 50 percent of the next
<br />years adopted budget with the remaining portion, not restricted or reserved for other purposes, as unreserved -
<br />undesignated. During 1993, the policy was expanded to cover the distribution of excess or deficient revenues in the
<br />General Fund at year end and established the level of the unreserved - undesignated portion of fund balance at 10
<br />percent of the next years operating budget, which would be used to provide for unknown events which could have
<br />an adverse effect on the fund in future years.
<br />Total fund balance for the General Fund consisted of the following reservations and designations:
<br />Fund Balance 1291 1994
<br />Reserved for Prepaid Items $ 15,371 $ 2,635
<br />Unreserved -
<br />Designated for Compensated Absences 163,770 154,782
<br />Designated for Working Capital 1,496,612 1,325,333
<br />Undesignated 302396 266.195
<br />Total Fund Balance $ L978.149 $ 1.748.945
<br />The following table presents a comparative analysis of General Fund Revenues for 1995 and 1994, respectively:
<br />1995 1994
<br />% of % of
<br />Function Amount Total Amount Total
<br />Property Taxes $1,510,755 44.2% $1,324,187 44.9%
<br />Licenses and Permits 303,235 8.9 264,081 9.0
<br />Intergovernmental Revenue 982,263 28.8 949,280 32.2
<br />Charges for Services 216,317 6.3 189,307 6.4
<br />Fines and Penalties 48,345 1.4 44,038 1.5
<br />Other Revenue:
<br />Interest Earned on Investments 60,230 1.8 83,098 2.8
<br />Miscellaneous 13,618 0.4 17,254 0.6
<br />Transfers From Other Funds 280.145 8.2 75.098 2.6
<br />Total Revenues $3.414.918 100.0% $2.946.343 100.0%
<br />Current tax collections for 1995, for general and debt service levies, are 99.7% of the tax levy, compared to 98.9%
<br />in 1994. The ratio of total collections [current, delinquent and tax forfeit sales] exclusive of tax increments, to the
<br />current tax levy is 100.7 %, an increase of .9 %, compared to 1994.
<br />Licenses and Permits revenue continue to increase each year. The increase of $39,154 from 1994 to 1995, is due
<br />primarily to building permit activity. While the number of permits for new construction were down from 1994, the
<br />City adopted the State's revised schedule on permit fees mid -year which resulted in this increase.
<br />Intergovernmental revenues increased in 1995, by $32,983 over 1994. This increase is due primarily to an increase
<br />in State funded aids and the Federal COPS Fast grant received late in the year.
<br />The increase of $27,010 in Charges for Services, from 1994 to 1995, is due primarily to the plan check fees that are
<br />based on building permit fees which increased as noted above. Other catagories under Charges for Services
<br />remained constant from 1994 to 1995.
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