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<br />GENERAL FUND REVENUES
<br />
<br />The following graph reflects the City’s General Fund revenue sources for 2024 compared to budget:
<br />Taxes Licenses and
<br />Permits Intergovernmental
<br />Charges
<br />for
<br />Services
<br />Other
<br /> Actual $6,540,898 $311,342 $1,670,105 $196,401 $1,423,180
<br /> Budget $6,634,425 $289,522 $1,406,577 $156,285 $476,353
<br />$–
<br /> $1,000,000
<br /> $2,000,000
<br /> $3,000,000
<br /> $4,000,000
<br /> $5,000,000
<br /> $6,000,000
<br /> $7,000,000
<br />General Fund Revenue –Budget and Actual
<br />
<br />
<br />General Fund revenues totaled $10,141,926 for 2024, which was $1,178,764 (13.2 percent) more than
<br />budget. Intergovernmental revenues exceeded projected amounts by $263,528, due to conservative
<br />budgeting for local government aid from the state. Other sources exceeded budget by $946,827, largely
<br />due to conservative estimates anticipated for investment earnings, conduit debt fees, and various other
<br />miscellaneous sources in the current year.
<br />
<br />The following graph presents the City’s General Fund revenues by source for the last five years. The
<br />graph reflects the City’s reliance on property and other taxes, which represented 64.5 percent of General
<br />Fund revenues in 2024.
<br /> Taxes Intergovernmental All Other
<br />2020 $5,417,372 $2,419,722 $862,607
<br />2021 $5,624,335 $2,078,190 $673,274
<br />2022 $5,900,858 $2,068,959 $350,118
<br />2023 $6,276,379 $1,725,979 $1,623,617
<br />2024 $6,540,898 $1,670,105 $1,930,923
<br />$–
<br /> $1,000,000
<br /> $2,000,000
<br /> $3,000,000
<br /> $4,000,000
<br /> $5,000,000
<br /> $6,000,000
<br /> $7,000,000
<br />General Fund Revenue by Source
<br />Year Ended December 31,
<br />
<br />
<br />Total General Fund revenues for 2024 were $515,951 (5.4 percent) more than last year. Taxes increased
<br />by $264,519, due to an increase in the approved tax levy. Intergovernmental revenue was $55,874 less
<br />than last year, with a decrease in federal funding available to the City in 2024. Remaining revenue
<br />sources of the General Fund were $307,306 more than 2023, with an increase in investment earnings and
<br />additional funding from conduit debt fees in the current year.
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