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<br />The following graph reflects the City’s General Fund revenue sources for 2022 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 2022 was $541,680, which was $18,402 (3.5 percent) more than budget.
<br />
<br />Intergovernmental revenues were over budget, due to the City not budgeting for the charitable gambling
<br />contributions and receiving approximately $17,000 in the current year. The City also budgeted for small
<br />cities assistance aid, but did not qualify for this type of aid in the current year. Licenses and permits were
<br />$9,122 higher than budget estimates.
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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 tax sources of revenue.
<br /> Taxes Intergovernmental Fines and Forfeits Charges for
<br />Services
<br /> Licenses and
<br />Permits All Other
<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 />2021 $453,686 $48,782 $267 $1,957 $27,109 $(1,809)
<br />2022 $481,016 $18,573 $970 $3,942 $35,072 $2,107
<br /> $(100,000)
<br />$–
<br /> $100,000
<br /> $200,000
<br /> $300,000
<br /> $400,000
<br /> $500,000
<br />General Fund Revenue by Source
<br />Year Ended December 31,
<br />
<br />Total General Fund revenue for 2022 was $11,688 (2.2 percent) higher than last year. Taxes increased by
<br />$27,330, due to an increase in franchise fees. Intergovernmental revenues were $30,209 less than the prior
<br />year, due to the City not qualifying for the small cities assistance funding, as previously mentioned.
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