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FUND SUMMARIES
<br />Listed below are individual fund summaries, or groups of funds summaries, for the City. Because of the large number
<br />of accounts and divisions in the larger funds, only highlights of major items will be discussed.
<br />General Fund Revenues
<br />The general fund revenues for fiscal year 2002-03 are currently estimated at $24,589,013, which is $209,461, or .86%,
<br />greater than our original budget projection. The revenues, by revenue category, for the current fiscal year are shown
<br />below:
<br />Original ProjectionCurrent Estimate
<br />Category 2002-032002-03Variance Percent
<br />
<br />General Property Taxes 8,345,3508,860,100514,750 6.17%
<br />Franchise Taxes 1,735,0001,616,980(118,020) -6.80%
<br />Sales Taxes 1,800,0001,850,00050,000 2.78%
<br />Industrial Payments 7,439,3377,084,697(354,640) -4.77%
<br />Other Taxes 43,00038,005(4,995) -11.62%
<br />Licenses & Permits 194,950200,6085,658 2.90%
<br />Fines & Forfeits 563,000687,968124,968 22.20%
<br />Charges for Services 1,740,4001,804,56764,167 3.69%
<br />Parks & Recreation 196,300183,100(13,200) -6.72%
<br />Recreation & Fitness 223,000223,500500 0.22%
<br />Center
<br />Intergovernmental 401,424401,424-0.00%
<br />Miscellaneous 30,00081,70351,703172.34%
<br />Operating Transfers 1,300,8211,300,821- 0.00%
<br /> 255,540 (111,430) -30.36%
<br />Interest 366,970
<br />
<br />Total 24,379,55224,589,013209,461 0.86%
<br />Franchise Tax
<br /> revenues are estimated to be 6.80%, or $118,020, lower than originally budgeted due to the
<br />deregulation of various utilities.
<br />Industrial Payment
<br />collections came in below expectations. This reduction in revenues is largely attributed to
<br />decreased valuations and the ability of many newer facilities to meet qualifications for pollution control exemptions.
<br />Interest Earnings
<br />are estimated to be down $111,480, or 30.36%, due to unfavorable economic conditions.
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