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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 2020. The 2020 General Fund budget of $519,138 is a 9.11 % increase <br />over the City's 2019 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 />2020 Expenditures By Department <br />Operating <br />Transfers <br />� 5; -000 <br />Public Works <br />$72,900 <br />Public 5afet) <br />$146,759 <br />General <br />Government <br />$244,479 <br />9 <br />