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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 2019. The 2019 General Fund budget of $470,773 is an 11.23% <br />increase over the City's 2018 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 10 also shows this information numerically. <br />PUBLIC <br />WORKS, <br />$73,450.� <br />PUBLIC <br />SAFTEY, <br />$133,394 <br />2019 Expenditures By Department 1 <br />OPERATING <br />TRANSFERS, <br />$20,000 <br />I <br />GENERAL <br />GOVERNMENT, <br />$243,929 <br />Q <br />