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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 2005-06 are currently estimated at $28,352,498 which is $2,365,421 or
<br />9.10% greater than our original budget projection. The revenues, by revenue category, for the current fiscal year are
<br />shown below:
<br /> Original ProjectionCurrent Estimate
<br />Category 2005-062005-06Variance Percent
<br />
<br />General Property Taxes 9,898,93010,395,130496,200 5.01%
<br />Franchise Fees 1,837,6801,904,23766,557 3.62%
<br />Sales Taxes 2,235,0002,389,099154,099 6.89%
<br />Industrial Payments 6,534,3727,448,417914,045 13.99%
<br />Other Taxes 50,00055,8835,883 11.77%
<br />Licenses & Permits 368,730603,917235,187 63.78%
<br />Fines & Forfeits 676,446803,323126,877 18.76%
<br />Charges for Services 3,084,2393,315,447231,208 7.50%
<br />Parks & Recreation 248,175176,887(71,288) -28.72%
<br />Recreation & Fitness Center 274,000260,537(13,463) -4.91%
<br />Intergovernmental 22,50022,500- 0.00%
<br />Miscellaneous 30,00044,96014,960 49.87%
<br />Operating Transfers 397,635397,635- 0.00%
<br />Interest 329,370 534,526 205,156 62.29%
<br />
<br />Total 25,987,07728,352,4982,365,421 9.10%
<br />Property Tax
<br />collections are higher than projected due to new growth and increased valuations.
<br />Sales Taxes
<br />are expected to be up $154,099 or 6.89% due to increased economic activity.
<br />Industrial Payment
<br />collections came in above expectations. This large increase in revenues is mainly attributed to
<br />inventories. The City expects collections to be slightly higher than the original 2006 projection in the 2007 fiscal
<br />year.
<br />Licenses and Permits
<br />are also projected to come in above original projections due to increased activity mainly in the
<br />areas of building permits and plan review fees. These are associated with the steady growth that the City has been
<br />experiencing over the past few years.
<br />Fines and Forfeits
<br /> are up due to more aggressive collection efforts initiated by the municipal court judge.
<br />Charges for Services
<br />are higher than originally estimated due to increased collections in the area of EMS billing.
<br />Parks and Recreation
<br />revenues are down due to decreased activity and renovations at the wave pool, which resulted
<br />in the facility’s closure for part of the season. These revenues are expected to increase in FY 2007.
<br />Miscellaneous
<br />revenue increases are attributed to the success of the online auction.
<br />Interest Earnings
<br />are estimated to be up $205,146 or 62.29%, due to more favorable economic conditions. Interest
<br />rates on the City’s investments rose more quickly than staff had anticipated during the prior year’s budget process.
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