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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 1997-98 are currently estimated at $19,808,736, which is
<br />$788,625, or 4.15%, greater than our original budget projection. The revenues, by revenue category, for
<br />the current fiscal year are shown below:
<br />
<br />Original Projection Current Estimate
<br />Category 1997-98 1997-98 Variance Percent
<br />General Property Taxes 7,051,618 7,070,000 18,382 .26%
<br />Franchise Taxes 1,291,761 1,343,326 51,565 3.99%
<br />Sales Taxes 1,450,000 1,560,000 110,000 7.59%
<br />Industrial Payments 5,077,500 5,567,174 489,674 9.64%
<br />Other Taxes 47,000 47,000 0 0.00%
<br />License & Permits . 227,825 304,484 76,659 33.65%
<br />Fines & Forfeits 592,757 711,997 119,240 20.12%
<br />Charges for Services 2,082,950 2,086,195 3,245 .16%
<br />Parks & Recreation 193,500 102,300 -91,200 -47.13%
<br />Recreation & Fitness Center 227;000 225,000 -2,000 -.88%
<br />Intergovernmental 163,000 161,060 -1,940 -1.19%
<br />Miscellaneous 25,200 10,200 -15,000 -59.52%
<br />Operating Transfers 40,000 40,000 0 0.00%
<br />Interest 550.000 580.000 30.000 5.45%
<br />Total 19,020,111 19,808,736 788,625 4.15%
<br />
<br />Franchise Taxes are estimated to be higher than originally projected. This variance is caused by higher
<br />electrical use throughout the City
<br />
<br />Industrial Payments are higher than projected because plant expansions exceeded expectations.
<br />
<br />Building Permits greatly exceeded our expectations which resulted in the Licenses & Permits category being
<br />over projection.
<br />
<br />The increase in the Fines & Forfeits is attributed to increased activity in the Police Department and Code
<br />Enforcement. More tickets and cases came through the Municipal Court than originally projected.
<br />
<br />The shortfall in the Parks & Recreation Category is the result of the Wave Pool being closed most of the
<br />summer.
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