|
GENERAL FUND REVENUES
<br />The following graph reflects the City's General Fund revenue sources for 2024 compared to budget:
<br />Property Taxes
<br />Intergovernmental
<br />Fines and Forfeits
<br />Licenses and Permits
<br />Charges for Services
<br />Special assessments
<br />Other
<br />General Fund Revenues
<br />Budget and Actual
<br />1
<br />4 S�J I ,O s LJ YJ LJ YJ kJ SJ ,O ,O ,O YJ YJ
<br />", �' S 3 6 cP 9 10 11 � � � 1,i. 16
<br />000 000 000 000 ,000 000 000 000 000 000 000 000 000 000 000 00
<br />�00 �00 �00 �00 �00 �00 �00 �00 �00 O O 0 0 0 0 00
<br />O O O D O O O O O 00 00 ' 00 ' 00 ' 00 ' 00 ' 00
<br />• Actual • Budget
<br />General Fund revenue for 2024 was $18,919,100, which was $1,556,350 (9.0 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 graph
<br />reflects the City's reliance on property taxes, which represented 78.0 percent of General Fund revenues in
<br />2024:
<br />$16, 00
<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 />u,uuu
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />0,000
<br />Taxes
<br />Property
<br />All Other
<br />Intergovernmental
<br />■2020
<br />$10,578,482
<br />$2,679,428
<br />$1,843,638
<br />02021
<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 />■2024
<br />$14,751,073
<br />$920,633
<br />$3,247,394
<br />Total General Fund revenue for 2024 was $2,022,875 (12.0 percent) more than last year. The increase in
<br />taxes was as anticipated and approved through the annual levy process. Intergovernmental decreased due
<br />to recognition of less 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.
<br />-10-
<br />
|