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<br />FUND SUMMARIES
<br />
<br />Listed below are individual fund summaries, or groups of funds summaries, for the City. Because of the
<br />large number of accounts and divisions in the larger funds, only highlights of major items will be discussed.
<br />
<br />General Fund Revenues
<br />
<br />The general fund revenues for fiscal year 1996-97 are currently estimated at $18,870,506, which is
<br />$105,461, or 0.56%, greater than our original budget projedion. The revenues, by revenue category, for
<br />the current fiscal year are shown below:
<br />
<br />Original Projection Current Estimate
<br />Category 1996-97 1996-97 Variance Percent
<br />General Property Taxes $ 6,707,820 $ 6,810,000 $ 102,180 1.52%
<br />Franchise Taxes 1,214,000 1,251,811 37,811 3.11%
<br />Sales Taxes 1,600,000 1,445,000 -155,000 -9.69%
<br />Industrial Payments 5,503,750 5,480,684 -23,066 -0.42%
<br />Other Taxes 37,000 52,528 15,528 41.97%
<br />License & Permits 194,025 220,944 26,919 13.87%
<br />Fines & Forfeits 294,450 410,929 116,479 39.56%
<br />Charges for Services 1,975,800 1,988,856 13,056 0.66%
<br />Parks & Recreation 194,000 198,750 4,750 2.45%
<br />Recreation & Fitness Center 220,000 224,858 4,858 2.21%
<br />Intergovemmental 159,000 163,146 4,146 2.61%
<br />Miscellaneous 50,200 25,000 -25,200 -50.20%
<br />Operating Transfers 40,000 40,000 0 0.00%
<br />Interest 575.000 558.000 -17.000 -2.96%
<br />Total $ 18,765,045 $ 18,870,506 $ 105,461 0.56%
<br />
<br />Sales Taxes are expeded to be considerably less that originally projected. Sales tax colledions in the State
<br />of Texas are controlled by the State Comptroller's Office. Very little information is shared with the entities,
<br />which makes it very difficult to project and explain this revenue source. We see no reason for the decline
<br />in sales tax for the year. The number of commercial establishments has increased. Comments from the
<br />State Comptroller's Office regarding the decline are that they had increased audit efforts for the last several
<br />years and all taxpayers are caught up so future revenues will be down. .
<br />
<br />In the Other Taxes category, both the Tax on Mixed Drinks and Bingo Taxes were greater than expected
<br />or projected using historical information.
<br />
<br />Licenses & Permits continue to exceed projections, as they have for the last several years. The City is
<br />experiencing a favorable building environment and our revenue projections tend to favor conservative
<br />estimates.
<br />
<br />The increase in Fines & Forfeitures is directly attributed to increased ticket activity in both the Police area
<br />as well as the Code Enforcement area, both of which have had extra emphasis placed on them in past
<br />budgets.
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