06-25-1990 Council Packet - Laserfiche WebLink

Home Browse Search

! » L Citizens of the City of Orono May 18, 1990 The City melntalns budgetary controls to aid In compliance with the annual budget as adopted by the City Council. Formal budgetary integration is employed as a management control device during the year for the General Fund and Special Revenue Funds. Budgetary control for Debt Service Funds Is achieved through pneral obllptlon bond provisions. Budgetary control for Capital Project Funds Is accomplished through the use of project controls. Budgetary control Is maintained at the fund level through the Issuance of purchase orders. Expenditures are monitored during the year, and any recom mended adjustments to the budget are presented to the Council for approval. Unused appropriations lapse at year-end; however, the Council may approve carryover of specific items. ^ The financial statements and schedules Included in the Financial Section of this report reflect the City's continued adherence to sound financial management. General Government Functions pe following schedule presents a summary of General Fund, Special Revenue Funds, and Debt Service Funds revenue for the year ended December 31, 1989, and the amount and percentage of increases or decreases in relation to the prior year revenue. ^ Increase Percent of Percent (Decrease)Increase —Revenue Amount of Total From 1988 (Decrease) Taxes $1,211,541 36.26%$ 41,130 3.51 %Licenses and permits 148,564 4.45 24,230 19.49Intergovernmental493,385 14.76 4,066 .83Charges for services 685,952 20.53 42,801 6.65Fines125,357 3.75 (15,300)(10.88) ftm Special assessments 214,752 6.43 (85,530)(28.48)Interest 396,427 11.86 37,911 10.57Miscellaneous65,659 1.96 18,210 38.38 $3,341,637 100.00%$ 67,518 Taxes are the single largest source of revenuo and accounted for 60.92% of the $67 518 revenue increase from the prior year. The tax revenue increase was derived primarily from an Increase in the current levy of $89,264, before applying State paid credits. The licenses and permits revenue increase was due to a rise in building and general permit revenue, while the increase in charges for services was due to Increased fees for land use related to items such as plan check and site exam fees, conditional use, variance and subdivision appli cation fees, and the institution of an annual $9.00 fee per residence for the recycling program. The fines revenue decreased for the first time in at least -4-