RES 90130 - Laserfiche WebLink

The summary ky operaning fund is provided below: General Fund Sewer Fund Water Fund Debt Service Funds Trust Funds $30,165,164 $ 4,033,000 $ 4,715,000 $ 65,000 $ 951.200 Total Revenue $39,929,364 2. Total Expenditures Appropriated operating and capital improvement expenditures from all funds recommended for your consideration for fiscal year 1990-91 to=al $45,242,582, or 0.8% increase over fiscal year 1989-90. The summary by operating fund is provided below: General Fund Sewer Fund Water Fund Deb= Service Fund Trust Funds $29,295,602 $ 3,432,391 $ 4,493,661 $ 104,091 $ s~o.i6o Total Revenue $37,845,905 This budget document also includes several funds no= presented previously: Liability Insurance Reserve Fund, Workers Compensation Reserve Fund, Asset Seizure Fund and Low Income Housing Trust Fund. It is staff's intent to improve this process next year to ensure that all funds are represented in the budget document. B. General Fund 1. Revenue Property taxes and Sales taxes are the two largest sources of local revenue and both sources are expected to grow this year. With the increase in the number of commercial and residential properties on the tax roll, we are estimating $11,750,000 in property tax revenue or 14.2% over the 1989-90 fiscal year. The slower real es=ate market will affect the proper~y tax revenue through a smaller number of reassessments, however the additional proper=les will offset this decline. Sales taxes represents the second largest source of revenue to the community. Sales tax revenue is es=imaged to be $8,500,000 or 7.6% higher than 1989-90. As the community matures it is likely that sales tax revenue will ultimately exceed the property tax revenue collected and become the largest source of income over time. Sales taxes is already a large source of revenue which will continue to grow with inflation. Proper~y tax revenue, however, is