Agenda Packets - 1986/09/15 - Laserfiche WebLink

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1986 LONG TERM FINANCIAL PLAN Page Twenty-nine III. LONG TERM REVENUE PROGRAM A. PUBLIC SERVICES 1. Basic Government Services The City Charter specifies that the Long Term Revenue Program shall be a tentative policy for the long term financing of public services and capital improvements. The program is thus a general policy statement outlining the methods by which City services and capital improvements are to be financed. The goal of the City is to finance governmental services provided to the residents entirely from current recurring revenues in order to achieve a balanced budget. Additionally, the City strives to maintain property tax levies at moderate levels. Most governmental services provided by the City are accounted for in the General Fund. Services provided are those which are traditionally associated with municipal government. They include General Government: City, Council, Comm'ssions, Administration, Elections, City Attorncy, Filnancc cnd PublicWorks; Pllblic Safety: Police, Fire, Civil Defense and Nuisance Abatement; Streets; and Parks and Recreation. In 1985 those services were financed from the following revenue sources: Revenue Source Amount Percent Property Taxes 644,118 35.45% Licenses and Permits 92,802 5.11% Intergovernmental 819,201 45.07% Revenue Charges for Services 92,639 5.10% Fines h Forfeitures 73,786 4.06% Interest Income 67,174 3.70% Other Revenues 27,355 1.51% 1,817,075 100.00E Property taxes and intergovernmental revenues combined account for 80.52% of the City's General Fund revenues. The level of those two revenue sources are controlled by the State of Minnesota through property tax levy limitation laws and the levels of funding for local government aids and homestead credits; which are the two largest sources of intergovernmental revenues the City receives. In recent years the State Legislature, in an effort to solve the State's fiscal problems, has limited the amount