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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 2006-07 are currently estimated at $30,631,787 which is $2,468,499 or
<br />8.76% greater than our original budget projection. The revenues, by revenue category, for the current fiscal year are
<br />shown below:
<br />Original Projection Current Estimate
<br />Category 2006-07 2006-07 Variance Percent
<br />
<br />General Property Taxes 10,784,21111,055,787271,576 2.52%
<br />Franchise Fees 1,990,8091,910,745(80,064) -4.02%
<br />Sales Taxes 2,434,7722,701,493266,721 10.95%
<br />Industrial Payments 6,836,2578,064,6191,228,362 17.97%
<br />Other Taxes 57,28061,4974,217 7.36%
<br />Licenses & Permits 447,880783,880336,000 75.02%
<br />Fines & Forfeits 753,164841,20388,039 11.69%
<br />Charges for Services 3,269,7713,402,434132,663 4.06%
<br />Parks & Recreation 212,927200,524(12,403) -5.83%
<br />Recreation & Fitness Center 276,500274,641(1,859) -0.67%
<br />Intergovernmental -5,9345,9340.00%
<br />Miscellaneous 30,00029,613(387)-1.29%
<br />Operating Transfers 419,717419,717- 0.00%
<br /> 879,700 229,700 35.34%
<br />Interest 650,000
<br />
<br />Total 28,163,28830,631,7872,468,499 8.76%
<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 $266,721 or 10.95% 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 2007 projection in the 2008 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 a warrant round up during the year. Revenues from this source are expected to
<br />remain flat in the upcoming year.
<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. These revenues are expected to increase in FY
<br />2008.
<br />Interest Earnings
<br />are estimated to be up $229,700 or 35.34%, 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, as
<br />maturing investments were replaced with higher yielding investments.
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