1988 CAFR - Laserfiche WebLink

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General Fund expenditures and other financing uses for the major functions of the City for the years of 1988 and 1987 are as follows: Function Current: General Government Public Safety Highways and Streets Culture and Recreation Debt Service Capital Outlay Operating Transfer Out 1988 % of Total $ Total $638,960 31.3% 575,467 28.3% 208,615 10.2% 115,076 5.6% 14,175 0.7% 355,977 17.4% 1 32.229 6.5% ix % of Total $ $512,295 491,346 209,388 87,848 14,175 64,384 73.061 1987 1988 Increase Total (Decrease) 35.3% $126,665 33.9% 84,121 14.4% (773) 6.0% 27,228 1.0% 0 4.4% 291,593 5.0% 59.168 $2,040.499 100.0% $1A52,497 100.0 % $588,002 The purchase of civil defense sirens, fire department equipment, and a new computer system resulted in an increase for Capital Outlay during 1988. SPECIAL REVENUE FUNDS. These funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specific purposes including current operating expenses and capital outlay. Flintwood Fund and River's Bend Fund These funds are used to account for contributions from developers and property owners for future sodding and sealcoating work. The Flintwood Fund balance is $15,926 as of December 31, 1988 which represents an increase of $9,990 from 1987. As of December 31, 1988 the River's Bend Fund balance is $6,957 which represents an increase of $2,651 from 1987. . Tax Increment Fund This fund was created to account for tax increment revenues received from general property taxes which are derived from increased value stimulated by tax increment projects. Activity in this fund will increase in future years as increment is generated from development within the four tax increment districts established by the City. The Tax Increment Fund balance is $246,205 which represents an increase of $162,191 from 1987. This increase is due in great part to property tax revenue in 1988.