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GENERAL FUND SUMMARY <br />FUND DESCRIPTION: <br />The General Fund is used to account for the ordinary operations of the City, which are financed from <br />taxes and other general revenues, which are not accounted for in another fund. The modified accrual <br />basis of accounting is used in the General Fund. That is, expenditures are recorded at the time <br />liabilities are 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 2017. The 2017 General Fund budget of $419,976 is a 18.68% <br />increase over the City's 2616 budget and is a balanced budget. The graphs below and on the next <br />page demonstrate the percentage breakdown of budgeted revenues by classification and expenditure <br />by department. Page 16 also shows this information numerically. <br />Public Safety <br />l $141 S78 <br />2017 <br />Expenditures By department <br />Operating <br />Pi,hlir Wnrkc Transfers <br />General <br />_ Government <br />$249,298 <br />N <br />