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General Fund Budget Summary
<br /> Revenues
<br /> Property Tax Levy: General Fund property tax revenue will increase 2.4%, or$42,258,with
<br /> the 2015 proposed budget. The proposed General Fund tax levy is $1,781,858. A historical
<br /> analysis of property tax levies is shown below:
<br /> City of Centerville Propose
<br /> 2008 2009 2010 2011 2012 2013 2014 201
<br /> Tax Levies
<br /> General Fund Tax Levy 1,806,400 1,685,920 1,727,561 1,739,600 1,739,600 1,739,600 1,739,600 1,796,858
<br /> Debt Service Levy 179,200 357,900 504,100 529,200 529,000 529,000 536,700 591,200
<br /> Total Levy 1,985,600 2,043,820 2,231,661 2,268,800 2,268,600 2,268,600 2,276,300 2,388,058
<br /> Increases 29% 9.2% 17% 00% 00% 0.3% 4.9%
<br /> Special Assessments: Special assessment revenue in the General Fund is expected to decrease
<br /> 33.3%or$6,000 in 2015. Most of the special assessments dedicated to this fund have been
<br /> paid off. Special assessment revenue for the General Fund is expected to be$12,000 in 2015.
<br /> Licenses& Permits: Revenue from licenses and permits is expected to increase 15.4%, or
<br /> $14,200, due to an increasing trend in building permits issued. Budgeted revenue for licenses
<br /> and permits is proposed at$106,300 for 2015.
<br /> Charges for Services include antenna leases, property rental, assessment searches and map
<br /> sales. Budgeted revenue is unchanged from the prior year,at$21,500.
<br /> Intergovernmental Revenue is expected to increase$54,022, or 25.9% in 2015. This is due
<br /> primarily to an increase in Fire State Aid, which is passed through to the Fire Relief Association.
<br /> However,local government aid will increase $7,022 in 2015, for a total of$60,466. Police State
<br /> Aid is also expected to increase$3,000 in 2015. Total intergovernmental revenue budgeted for
<br /> 2015 is $262,766.
<br /> Fines& Forfeits revenue for 2015 is expected to remain the same as the prior year,$35,000.
<br /> Interest Revenue is expected to be earned at the rate of approximately 1%. Budgeted interest
<br /> revenue was reduced $5,000, or 33.3%from the prior year. There was no interest revenue
<br /> posted for 2013, due to a sizeable unrealized market value loss in a federal agency investment,
<br /> which was recorded as negative interest earnings. GASB requires investments to be recorded
<br /> at fair market value,even if the losses are not realized at maturity, Interest is allocated to all
<br /> City funds. Total interest earnings budgeted for the General Fund in 2015 is$10,000.
<br /> Total 2015 Budgeted Revenues for the General Fund: 2,244.424
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