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The following table presents a comparative analysis of General Fund revenues and other financing sources for 2003 and 2002, respectively: 2003 2002 % of % of Function Amount Total Amount Total Property taxes $ 4,090,096 52.6% $ 3,948,850 60.5% Licenses and permits 838,034 10.8 410,674 6.3 Intergovernmental revenue 624,371 8.0 1,000,976 15.3 Charges for services 649,337 8.3 388,251 5.9 Fines and penalties 72,577 1.0 63,631 1.0 Other revenue: Interest earned on investments 82,792 1.1 169,006 2.6 Miscellaneous 134,686 1.7 8,309 0.1 Transfers from other funds 1,288,180 16.5 539,879 8.3 Total revenues and other financing sources $ 7,780,073 100.0% $ 6,529,576 100.0% Current tax collections for 2003, for general and debt service levies, are 94.3% of the tax levy, compared to 98.7% in 2002. The ratio of total collections (current, delinquent and tax forfeit sales), exclusive of tax increments, to the current tax levy was 99.6 %, a decrease of 0.3% compared to 2002. The distribution of the tax levy, by purpose expressed as tax capacity rates for the years payable 1999 to 2003, are as follows: Year Debt Service Total City General Fund Funds Share Tax Capacity Tax Capacity Tax Capacity Rate Rate Rate 2003 36.962 2.391 39.353 2002 39.088 2.036 41.124 2001 25.848 1.771 27.619 2000 22.311 1.804 24.115 1999 22.890 0.003 22.893 Licenses and permits, as well as charges for services, increased in 2003 due to an increase in new building construction. Intergovernmental revenue saw a decrease due to a total cut in LGA and a reduced MVHC from the State of Minnesota. The decrease in investment earnings is attributed to market changes, especially record low interest rates. Year 2003 saw an increase in miscellaneous revenue primarily attributed to a payment from Anoka County for electric and utility easements that dated back several years. The most significant change from 2002 to 2003 is the increase of transfers in from other funds. The increase was due to the purchase of several items of capital equipment, the largest being an aerial ladder fire truck, purchased with funding from the Equipment Revolving Fund. xii