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The following is a history of earnings by year:
<br />Year Earnin�s
<br />1980 $ 861,283
<br />1981 1,435,915
<br />1982 1,464,996
<br />1983 1,223,593
<br />1984 1,485,822
<br />General Fund
<br />The General Fund accounts for all financial transactions not properly accounted
<br />for in any other £und. Revenues (including operating transfers) of the General
<br />Fund totaled $4,602,901, an increase of $343,582 from 1983. Expenditures
<br />(including operating transfers) for the General Fund totaled $4,012,387, an
<br />increase of $154,421 over the previous year. The fund balance increased by
<br />$590,513, and was $2,797,408 at the end of the year.
<br />The fund balance is available to provide working capital for the fund until tax
<br />settlements are received in July and December of each year, to provide funds for
<br />unknown events which would have an adverse effect on the fund, and to help finance
<br />future budgets. The City Council has designated $200,000 of this balance for
<br />natural disasters, $1,480,000 for working capital, $95,790 for redevelopment and
<br />$209,761 for vacation pay and compensatory time off.
<br />The amount of revenue from various sources and the changes from last year are
<br />shown in the following tabulation:
<br />Revenue Source
<br />General property taxes
<br />License and permits
<br />Intergovernmental revenue
<br />Charges for service
<br />Fines and forfeits
<br />Miscellaneous
<br />Transfers
<br />Total Revenue
<br />1984
<br />Amount
<br />�2,080,942
<br />416,385
<br />1,248,009
<br />398,679
<br />115,576
<br />272.827
<br />70,483
<br />$4,602,901
<br />Percent
<br />of total
<br />45.27
<br />9.1
<br />27.1
<br />8.7
<br />2.5
<br />5.9
<br />1.5
<br />100.07
<br />Increase
<br />(Decrease)
<br />From 1983
<br />$383,504
<br />78,243
<br />(253,417)
<br />18,675
<br />9,832
<br />107,583
<br />(838)
<br />$343,582
<br />Assessed valuations of $340;103,982 represented an increase of 6.0% over the
<br />preceding year. General property taxes accounted for 45.2% of the revenues, and
<br />current tax collections were 98.1% of the total tax levy for the year 1984. This
<br />is the tenth consecutive year current property tax collections have exceeded
<br />96.3%. Intergovernmental revenues accounted for 27.1% of the revenues.
<br />S.�
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