Agenda Packets - 1989/08/07 - Laserfiche WebLink

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Long -Term Financial Plan Page Thirty -One 1 III. LONG TERM REVENUE PROGRAM PUBLIC SERVICES 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, Commissions, Administration, Elections, City Attorney, Finance and Public Works; Public Safety: Police, Fire, Civil Defense and Nuisance Abatement; Streets; and Parks and Recreation. In 1988 those services were financed from the following revenue sources: Revenue Source Amount Percent Property Taxes 798,629 37.80 Licenses and Permits 156,828 7.42 Intergovernmental 923,537 43.71 Revenue Charges for Services 72,859 3.45 Fines and Forfeitures 50,324 2.39 Interest Income 78,826 3.74 Other Revenues 31,391 1.49 2, 94 100.00 Property taxes and intergovernmental revenues combined account for 81.51% 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 :ne two largest sources of intergovernmental revenue the City receives. In recent years the State Legislature