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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 2018. The 2018 General Fund budget of $423,247 is a 0.78% increase <br />over the City's 2017 budget and is a balanced budget. The graphs below and on the next page <br />demonstrate the percentage breakdown of budgeted revenues by classification and expenditure by <br />department. Page 10 also shows this information numerically. <br />Public jAlnrlrc <br />.'$36,. <br />Public Safety <br />$96,750 <br />2018 Expenditures By Department <br />Operating <br />Transfers <br />$20,000 <br />General <br />i <br />Government <br />$270,197 <br />0 <br />