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The revenues for the new fiscal year are projected at $24,668,148, which is $288,596, or 1.18%, greater than they
<br />were in the current year. The revenues for the new fiscal year are shown below:
<br /> Original Projection
<br />Projection
<br />Category 2002-032003-04Variance Percent
<br />
<br />General Property Taxes 8,345,3508,805,771460,421 5.52%
<br />Franchise Taxes 1,735,0001605,000(130,000) -7.49%
<br />Sales Taxes 1,800,0001,859,76059,760 3.32%
<br />Industrial Payments 7,439,3377,179,487(259,850) -3.49%
<br />Other Taxes 43,00035,000(8,000) -18.60%
<br />Licenses & Permits 194,950216,95022,000 11.28%
<br />Fines & Forfeits 563,000653,95090,950 16.15%
<br />Charges for Services 1,740,4002,908,1171,167,717 67.09%
<br />Parks & Recreation 196,300184,600(11,700) -5.96%
<br />Recreation & Fitness 223,000229,5006,500 2.91%
<br />Center
<br />Intergovernmental 401,424350,000(51,424) -12.81%
<br />Miscellaneous 30,00030,000-0.00%
<br />Operating Transfers 1,300,821383,243(917,578) -70.54%
<br />Interest 366,970 226,770 (140,200) -38.20%
<br />Total 24,379,55224,668,148288,596 1.18%
<br />Industrial Payments
<br />are expected to decrease by $259,850, or 3.49%. This decrease is mainly attributed to the
<br />decrease in plant values and pollution control exemptions.
<br />Licenses and Permits
<br />are projected to be up 11.28%, or $22,000, due to growth and an increase in fees.
<br />Charges for Services
<br />are projected to increase by 67.09%, or $1,167,717. Approximately 25%, or $300,000, of this
<br />increase is due to the adopted increase of $2.50 for garbage collection fees. Another projected increase is in the area
<br />of EMS billing collections, which are anticipated to increase by $150,000. Various increases are also planned for
<br />Parks & Recreation and the Planning Division.
<br />Operating Transfers
<br />The decrease in is mainly attributed to the deletion of a one time transfer related to health
<br />insurance costs and the operating transfer of $300,000 to repay the Economic Development seed money.
<br />Interest Earnings
<br />are projected to be down 38.20%, from the last year’s budget due to the current economic climate.
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