06-09-1997 Council Packet - Laserfiche WebLink

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r y tv The following table presents the City’s General Fund revenue sources for the past ten years. Taxes State Other Total Year Amount Percent Amount Percent Amount Percent Revenue 1987 $ 1.072.390 41.8 %$ 434.497 16.9 %$ 1.061.027 41.3 %$ 2.567.914 1988 1.139.509 41.4 438,303 15.9 1.173.420 42.7 2.751,232 1989 1.179.747 41.2 465.510 16.3 1.218.640 42.6 2.863.897 1990 1.581.776 53.6 111.626 3.8 1.258.069 42.6 2.951.471 1991 1.620.232 58.9 140.448 5.1 988,932 36.0 2.749.612 1992 1.561.034 53.8 219.667 7.6 1.122.004 38.6 2.902.705119931.546.814 48.7 398.903 12.7 1.227.792 38.6 3.173.509 1994 1.645.133 50.1 442.512 13.5 M95.950 36.4 3.283.595 199S 1.644.440 48.1 142.460 12.9 1.335.507 39.0 3.422.407 f 1996 1.641.943 47.3 433.570 12.5 1.397,227 40.2 3.472.740 Total actual revenue in the General Fund exceeded the budgeted amount by $124,985 or approximately 3.7% for 1996. Much of the additional revenue is attributable to permit revenue which resulted from the increase in development activity. Another area with a significant increase was charges for services which related to an additional salaried employee ’s services being reimbursed from the public works area. Total General Fund revenues have increased 35% since 1987, an average of 3.8% per year. The amount coUecled from taxes has increased 53.1 % while state revenue actually decreased 0.2% over the same period. As a result, the City continues to become more dependent on taxes and other revenue sources (primarily clwrges for services, licenses and permits) to finance its General Fund Operations. This has resulted in the City becoming less dependent on increasingly unstable state revenue sources. Even though a larger proportion of the City’s operating budget is funded through taxes it is important to emphasize that total taxes certified to City taxpayers since 1990 have increased just 4% during that time period. The City’s tax rate actually decreased from 1995 to 19%. General Fund Revenue By Source Years Ended December 31 Taxes State All Other -9- J