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<br />The revenues for the new fiscal year are projected at $19,020,111, which is $255,066, or 1.36%, greater
<br />than they were in the current year. The revenues for the new fiscal year are shown below:
<br /> Revised Projection
<br />Category 1996-97 1997-98 Variance Percent
<br />General Property Taxes $ 6,810,000 $ 7,051,618 $ 241,618 3.55%
<br />Franchise Taxes 1,251,811 1,291,761 39,950 3.19%
<br />Sales Taxes 1,445,000 1,450,000 5,000 0.35%
<br />Industrial Payments 5,480,684 5,077,500 -403,184 -7.36%
<br />Other Taxes 52,528 47,000 -5,528 -10.52%
<br />License & Permits 220,944 227,825 6,881 3.11%
<br />Fines & Forfeits 410,929 592,757 181,828 44.25%
<br />Charges for Services 1,988,856 2,082,950 94,094 4.73%
<br />Parks & Recreation 198,750 193,500 -5,250 -2.64%
<br />Recreation & Fitness Center 224,858 227,000 2,142 0.95%
<br />Intergovernmental 163,146 163,000 -1469 -0.09%
<br />Miscellaneous 25,000 25,200 200 0.80%
<br />Operating Transfers 40,000 40,000 0 0.00%
<br />Interest 558,000 550.000 -8.000 -1.43%
<br />Total $ 18,870,506 $19,020,111 $ 149,605 0.79%
<br />
<br />The increase in General Property Taxes is driven by increased overall appraised values of properties
<br />located in the City, as reported by the Harris County Appraisal District.
<br />
<br />Industrial Payments, driven by the value of industrial companies located in the CitYs two Industrial Districts,
<br />are projected to be down by 7.36%. However, it is only the General Fund's portion that is projected to be
<br />down. Overall, Industrial Payments are up by 10.9% or $700,000. Industrial Payments are normally
<br />distributed among four funds with 85% going to the General Fund, 10% going to the Capital Improvement
<br />Fund, 2.5% going to the Debt Service Fund and a final 2.5% going to the Economic Development Fund. For
<br />fiscal year 1997-98, an additional $1 million that normally would have gone to the General Fund is being
<br />placed in the Economic Development Fund.
<br />
<br />Fines & Forfeits are expected to keep their upward growth pattem. In addition to the increased activity seen
<br />in fiscal year 1996-97, the addition of the new TXDOT enforcement team will have a huge impact on this
<br />revenue stream.
<br />
<br />The increase in the Franchise Fee and the Charges for Services categories are the result of increased
<br />estimates based on population growth. Utility usage is expected to increase because of the new homes and
<br />commercial properties in the City.
<br />
<br />The remainders of the revenue categories are expected to have little movement during the new year.
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