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<br />General Fund Revenues. Actual General Fund revenues exceeded budget estimates by $1.5
<br />million, or a variance of 1.8%. The following table shows the major revenue categories with a
<br />comparison of budgeted versus actual revenues and the variance to the budget estimate both in
<br />terms of dollars and percentage.
<br />
<br />Gener ~ll Fund RevenuE's BLlcleJ8I Actllcll ~) VolrldlH l' V,lrklllce
<br />Property Tax 40,139,778 41,257,246 1,117,468 2.8%
<br />Sales Tax 19,615,365 20,133,618 518,253 2.6%
<br />Documentary Transfer Tax 1,200,000 1,225,845 25,845 2.2%
<br />Business License Tax 2,972,500 3,000,762 28,262 1.0%
<br />Hotel Tax 2,972,500 3,053,013 80,513 2.7%
<br />Development Services Fees 3,741,971 3,890,451 148,480 4.0%
<br />Recreation Fees 3,430,667 3,497,962 67,295 2.0%
<br />Other Fees 982,376 1,054,891 72,515 7.4%
<br />Grants & Intergovernmental 2,058,277 2,100,921 42,644 2.1%
<br />Reimbursements 936,240 680,605 -255,635 -27.3%
<br />Interest Income 666,571 643,881 -22,690 -3.4%
<br />Inter-fund Labor Charges 2,970,462 2,556,054 -414,408 -14.0%
<br />Other Revenues 2,858,635 2,961,845 103,210 3.6%
<br />Total 84,545,342 86,057,094 1,511,752 1.8%
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<br />Property tax revenues are the single largest revenue source for the City and accounted for 47.9%
<br />of the total FY 2005-06 General Fund revenues. These revenues came in $1.1 million over
<br />projections, a variance of 2.8 %. The variance from the budget estimate for property tax is in
<br />primarily three categories: secured property tax $271,000, delinquent property tax $205,000 and
<br />supplemental property tax $630,000.
<br />
<br />Sales tax revenues exceeded projections by $518,253, a 2.6% variance to projections. This is
<br />due to stronger than anticipated fourth quarter performance. (Sales tax increased 5.5% over FY
<br />200405 actual versus the 2.1 % increase assumed at the time mid-year adjustments were
<br />approved).
<br />
<br />General Fund Expenditures. Actual General Fund expenditures were below budget estimates
<br />by $3.8 million, or a variance of 4.7%. The table on the following page shows the major
<br />expenditure categories with a comparison of budgeted versus actual expenditures and the
<br />variance to the budget estimate both in terms of dollars and percentage.
<br />
<br />SR 06:259
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