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General Government Functions <br />General Eund <br />The General Fund accounts for all financial transactions not <br />properly accounted for in any other £und. Revenues (including <br />operating transfers) of the General Fund totaled $5,158,172, an <br />increase of $ 368,451 from 1986. Expenditures (including <br />operating transfers) for the General Fund totaled $5,450,789 an <br />increase of $1,088,439 over the previous year. The fund balance <br />decreased by $292,617, and was $3,185,720 at the end of the year. <br />The fund balance is available to provide working capital for the <br />fund until tax settlements are received in July and December of <br />each year, to provide funds for unknown events which would have <br />an adverse effect on the fund, and to help finance £uture <br />budgets. The City has designated $800,000 of this balance for <br />revenue variations, $1,900,000 for workinq capital, $5,444 for <br />the Employee Welfare Program $285,827 for vacation pay and <br />compensatory time off, and $186,960 for future expenditures. <br />The amount of revenue from various sources and the changes from <br />last year are shown in the following tabulation: <br />Increase Percent <br />1987 Percent (Decrease) of <br />Revenue Source Amount of Total From 1986 ChanQe <br />General property taxes <br />License and permits <br />Intergovernmental <br />revenue <br />Charges for service <br />Fines and forfeits <br />Miscellaneous <br />Transfers <br />Total Revenue <br />$ 2,032,360 <br />556,751 <br />1,565,343 <br />389,904 <br />105,616 <br />307,198 <br />201,000 <br />39.3� $ (48,740) (2.3) <br />10.7 37,731 7.2 <br />30.5 165,869 11.8 <br />7.5 554 .1 <br />2.1 (15,785) (12.9) <br />6.2 27,817 22.9 <br />3.8 201,000 n a <br />S 5,158,172 100.0 � 368,451) 7_6 <br />The major revenue change in 1987 was in intergovernmental <br />revenue. The City did receive an increase in Local Governmental <br />Aid of $45,436 and an increase in homestead credit aid of <br />$109,644 to account for the major portion of the additional over <br />1986. <br />Assessed valuations of $338,306,518 represented essentially no <br />change from the preceding year. General property taxes accounted <br />for 39.3% of the revenues, and current tax collections were <br />96.OSg of the total tax levy for the year 1987. This is a <br />decrease from previous years primarily due to slower payment <br />rates during 1987. <br />Intergovernmental revenues accounted for 30.5% of the revenues. <br />Increases in levels of expenditures for major functions of the <br />5 <br />