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General �vern�ent �unctions <br />General Fund <br />The General Fund accounts for all financial transactions not <br />properly accounted for in any other fund. Revenues (including <br />operating transfers) of the General Fund totaled $5,599,370, an <br />increase of $160,775 from 1989. Expenditures (including operat- <br />ing transfers) for the General Fund totaled $5,586,570 an in- <br />crease of $247,530 over the previous year. The fund balance <br />increased $12,800 and was $3,314,054 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 future budg- <br />ets. The City has designated $3,045,589 of this balance for <br />working capital and $268,465 for vacation pay and compensatory <br />time off. <br />The amount of revenue from various sources and the changes from <br />last year are shown in the following tabulation: <br />Increase Percent <br />1990 Percent (Decrease) of <br />Revenue Source Amount of Total From 1989 Chanae <br />General property taxes <br />License and permits <br />Intergovernmental <br />revenue <br />Charges for service <br />Fines and forfeits <br />Miscellaneous <br />Total Revenue <br />$ 2,748,721 <br />170,010 <br />1,356,189 <br />1,037,845 <br />114,033 <br />172.572 <br />49.1% $ 764,218 38.5 <br />3.0 13,920 8.9 <br />24.2 <br />18.6 <br />2.0 <br />3.1 <br />S 5,599,370 100.0 <br />(570,448) <br />(7,502) <br />(3,160) <br />(36,253) <br />(29.6) <br />i •7) <br />( 2.7) <br />17.5 <br />_� 160,775 2.9 <br />There were several major revenue changes in 1990. State aid <br />decreased significantly over 1989. This was due to the State's <br />transfer of aid to the schools in exchange for increased property <br />tax levy to the Cities. The property tax revenue for 1990 in- <br />creased substantially and reflects the change in policy by the <br />State. <br />General property taxes accounted for 49.1% of the revenues, and <br />current tax collections were 95.79e of the total tax levy for <br />the year 1990. This collection per cent is somewhat lower than <br />previous years. Several commercial properties were reduced in <br />estimated market value on a reevaluation resulting is a substan- <br />tial rebate of previous taxes paid. <br />Intergovernmental revenues accounted for 24.Zo of the revenues. <br />Increases in levels of expenditures for major functions of the <br />City over the preceding year are shocon in the following <br />6 <br />