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Revenues The City is dependent on the resources that generate revenue to provide for the different services that our residents receive. This dependency is the limiting factor on what service can be provided. These services range from the basic services of public safety and road maintenance to services enhancing the quality of life such as parks and community events. Our resources to generate revenue are affected by a number of factors, including City, State and Federal laws, rates, demographics, and economic conditions. The following provides a summary of major revenue sources and general trends: Property Taxes This revenue source is primarily used in the General Fund and is set at a level to raise adequate revenue for the operating budget when combined with other expected revenues. The final level of expected revenue should be sufficient to conduct City business in accordance with Council policy and directives and result in a projected year-end fund balance to cover possible emergencies and contingencies. N $5.00 o $4.75 $4.50 $4.25 $4.00 $3.75 $3.50 $3.25 $3.00 $2.75 $2.50 $2.25 $2.00 Tax Levies 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Trends: Property tax levies have been increasing due to cuts in State Aid that began in 2001. Special Assessments A portion of the costs for public improvements is recovered by assessment charges to the benefiting property owners. These collections are used to pay bond principal and interest on the outstanding improvement bonds or to reimburse the City if no bonds were issued. A majority of the special assessments are associated with road reconstruction projects within the Capital Improvement Plan, but they also include charges against property for the collection of delinquent utility bills or miscellaneous charges.