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___ <br />GENERAL FUND SUMMARY <br />Fund Description: <br />Th.e General �und is used to acco�nt for the ardinary operations o� the City, which are <br />financed from taxes and other g�neral revenues, which are not accounted for in another <br />fi�nd. The tr�odified accrual basis of accou.r�ting is used in the Gerzeral Fund. This is, <br />expend'ztures at�e recorded at the time liabilities are inc�u-red and revenues are recorded <br />when received. However, compensated absences are expended "wh�n paid" far <br />budgetary purposes. <br />Budget Summarv: <br />The tl�ree largest revenue sources for the City are property taxes, ck�arges for curreni <br />�ervices, and iicense fees and pennits. Property ta�es are t�Ze iargest revenue source with <br />77% of the revenu�, charges f�r current sexvices are 10%, Iicense fees and perrnits are <br />7%, Entergovernr�ental revenues are 3%, invest�nent revenues are 1%, court fines are 1% <br />and miscellaneous revenues are 1%. The grap�t be�ow illustrates the projected revenue by <br />�Ype- <br />2012 Proposed Revenues By Classification <br />■ Taxes <br />■ Licenses & Permits <br />� Intergovernmental Revenues <br />■ Charges for Services <br />� interest on In�estrnents <br />� Fines & Forfeits <br />�Special Assessments <br />� Miscelianeous <br />26 <br />