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Y <br />1984 LONG TERM FINANCIAL PLAN <br />Page Twenty -Three <br />LONG-TERM REVENUE PROGRAM <br />Basic Government Services <br />The City Charter specifies that the Long Term Revenue <br />Program shall be a tentative policy for the long term <br />financing of public services and capital improvements. The <br />program is thus a general policy statement outlining the <br />methods by which City services and capital improvements are <br />to be financed, <br />The goal of the City is to finance governmental services <br />provided residents entirely from current recurring revenues <br />in order to achieve a balanced budget. Additionally, the <br />City strives to maintain property tax levies at moderate <br />levels. <br />Most governmental services provided by the City are <br />accounted for in the General Fund. Services provided are <br />those which are traditionally associated with municipal <br />government. They include General Government: City, <br />Council, Commissions, Administration, Elections, City <br />Attorney, Finance and Public Works; Public Safety: Police, <br />Fire, Civil Defense and Nuisance Abatement; Streets; and <br />Parks and Recreation. In 1983 those services were 'financed <br />from the following revenue sources: <br />Revenue Source <br />Amount <br />Percent <br />Property Taxes <br />$477,125 <br />33.04% <br />Licenses and Permits <br />107,633 <br />6.67% <br />Intergovernmental <br />739,183 <br />51.20% <br />Revenue <br />Charges for Services <br />56,199 <br />3.89% <br />Fines & Forfeitures <br />37,900 <br />2.63% <br />Other Revenues <br />25,831 <br />1.79% <br />51,443,871 <br />100.00% <br />Property taxes and intergovernmental revenues combined <br />account for 84.24% of the City's General Fund revenues. The <br />level of those two revenue sources are controlled by the <br />State of Minnesota through property tax levy limitation laws <br />and the levels of funding for local government aids and <br />homestead credits; which are the two largest sources of <br />intergovernmental revenues the City receives, In recent <br />years the State Legislature, in an effort to solve their <br />fiscal problems, has limited the amount of homestead credits <br />and paid and reduced the amount of local government aids <br />given to the City. Such actions by the State Legislature <br />dramatically effect the City's ability to provide <br />governmental services to residents, while keeping property <br />tax levies to a minimum since property taxes an <br />intergovernmental revenues account for 84.241 of the General <br />Fund's revenue sources. As a consequence of the City's <br />reliance on these two revenue, sources to finance the <br />majority of governmental services the City is very much <br />