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GENERAL FUND SUMMARY <br />FUND DESCRIPTION: <br />The General Fund accounts for the ordinary operations of the City, which are financed from taxes and <br />other general revenues, which are not accounted for in another fund. The modified accrual basis of <br />accounting is used in the General Fund. That is, expenditures are recorded at the time liabilities are <br />incurred and revenues are recorded when received. <br />BUDGET SUMMARY: <br />Property taxes are the largest revenue source, with the general government department as the largest <br />expenditure area planned for 2025. The 2025 General Fund expenditure budget of $690,887 is a <br />3.53% increase from the City's 2024 budget, with a revenue budget of $690,887. The graphs below <br />and on the next page demonstrate the percentage breakdown of budgeted revenues by classification <br />and expenditure by department. Page 10 also shows this information numerically. <br />2025 <br />REVENUES BY CLASSIFICATION <br />LICENSES & PERMITS <br />4.23% <br />INTERGOVERNMENTAL <br />REVENUES <br />1.16% <br />CHARGES FOR SERVICES <br />ti�''�{' •• 0.47% <br />PROPERTY TAXES <br />91.91% FINES & FORFEITS <br />0 12% <br />MISCELLANEOUS <br />2.11% <br />H. <br />