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• Additional funding for the Repair and Replacement Funds for the
<br /> City's infrastructure, equipment, park and median funds, and
<br /> computer technology 939,546
<br /> • Additional funding for the Worker's Compensation Reserve
<br /> for Non-Fire employees 954.261
<br /> Total $2,822,391
<br /> The remaining $2,000,000 of excess funds will be deposited in
<br /> the General Fund Reserves (Fund Balance) to begin to rebuild
<br /> and restore the City's General Fund Reserves to the level that
<br /> they were ($20 million) prior to the payoff of the Golf Course
<br /> Bonds. 2.000,000
<br /> Total Excess Funds $4,822,391
<br /> General Fund Revenues. General Fund revenues received (Actual) were greater than
<br /> the Amended Budget by $2,134,187 or 2.26%. Table 2 presents the major revenue
<br /> categories with a comparison of the Amended Budget versus actual revenues and the
<br /> variance to the Amended Budget both in terms of dollars and percentage.
<br /> Table 2. General Fund Revenues—Amended Budget vs. Actual
<br /> General Fund Revenues Amended Actual $Variance %Variance
<br /> Property Tax $50,450,000 $50,366,776 ($83,224) -0.2%
<br /> Sales Tax 20,070,000 20,993,123 923,123 4.6%
<br /> Documentary Transfer Tax 690,000 733,805 43,805 6.3%
<br /> Business License Tax 3,150,000 3,150,104 104 0.0%
<br /> Hotel Tax 4,000,000 4,298,581 298,581 7.5%
<br /> Development Services Fees 4,374,000 4,495,534 121,534 2.8%
<br /> Franchise Fees 2,300,000 2,371,125 71,125 3.1%
<br /> Recreation Fees 3,469,250 3,772,869 303,619 8.8%
<br /> Library Revenues 98,600 120,880 22,280 22.6%
<br /> Other Fees 929,920 943,303 13,383 1.4%
<br /> Grants & Intergovernmental 485,000 495,242 10,242 2.1%
<br /> Reimbursements 688,742 1,111,491 422,749 61.4%
<br /> Interest Income 185,000 203,293 18,293 9.9%
<br /> Inter-fund Labor Charges 2,453,239 2,297,572 (155,667) -6.3%
<br /> Other Revenues 1,028,200 1,152,440 124,240 12.1%
<br /> Total $94,371,951 $96,506,138 $2,134,187 2.26%
<br /> Property Tax revenues are the single largest revenue source for the General Fund,
<br /> accounting for approximately 53% of total revenues. In 2013/14FY actual property tax
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