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<br />The following graph reflects the City’s General Fund revenue sources for 2020 compared to budget:
<br /> All Other
<br /> Licenses and Permits
<br /> Charges for Services
<br /> Fines and Forfeits
<br /> Intergovernmental
<br /> Taxes
<br />General Fund Revenue
<br />Budget and Actual
<br />Budget Actual
<br />General Fund revenue for 2020 was $531,541, which was $12,403 (2.4 percent) more than budget.
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<br />Taxes were over budget, due to better than projected tax collections. All other was over budget, due to
<br />conservative budgeting and investment earnings performing better than expected.
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<br />The following graph presents the City’s General Fund revenues by source for the last five years. The graph
<br />reflects the City’s reliance on property tax sources of revenue.
<br /> Taxes Intergovernmental Fines and Forfeits Charges for
<br />Services
<br /> Licenses and
<br />Permits All Other
<br />2016 $223,118 $9,796 $3,210 $5,705 $34,108 $19,584
<br />2017 $359,657 $16,619 $1,072 $36,949 $45,772 $15,787
<br />2018 $379,124 $15,817 $1,145 $48,650 $50,362 $22,515
<br />2019 $370,729 $16,759 $1,769 $21,817 $96,742 $18,820
<br />2020 $472,092 $9,885 $620 $1,662 $31,439 $15,843
<br />$–
<br /> $50,000
<br /> $100,000
<br /> $150,000
<br /> $200,000
<br /> $250,000
<br /> $300,000
<br /> $350,000
<br /> $400,000
<br /> $450,000
<br /> $500,000
<br />General Fund Revenue by Source
<br />Year Ended December 31,
<br />
<br />Total General Fund revenue for 2020 was $4,905 (0.9 percent) higher than last year. Taxes increased by
<br />$101,363, due to an increase in the approved tax levy. Charges for services and licenses and permits were
<br />less than the prior year, due to less development in the City in the current year.
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