2004 Performance Based Budget - Laserfiche WebLink

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Encumbrances aze recorded as expenditures for budgetary purposes when purchase orders aze issued. Revenues are recorded when received in cash (budgetary) as opposed to when they are subject to accrual (GAAP). Expenditures aze recorded when paid in cash (budgetary) as opposed to when the liability is incurred (GAAP). Included in this Financial Summary section is a historical comparison of both 2004 Capital and Operating Budgets and 2003 Original (excluding additional appropriations approved during the yeaz) Operating and Capital Budgets along with actual results for the years 2001, 2002 and 2003. These actual results aze recorded on a cash basis in order that a fair comparison can be made with the City's annual budgets. As a result of the cash basis presentation for these years, an adjustment for each fund was required to convert from the cash to the modified accrual basis in order to adequately reflect the projected fund balance at yeaz-end. The City's 2003 financial results have not yet been audited as of the date of this publication, so no adjustments to the accrual basis have been included for 2003. 2004 REVENUE SOURCES AND SIGNIFICANT REVENUE TRENDS The City provides the following services: public safety (police and fire), highways and streets, health and social services, cuhure and recreation, public improvements, planning and zoning, general administrative services, water, sewer, solid waste services, and urban redevelopment and housing. The costs incurred to provide these services are included in the City's annual budgets. The revenue required to fund these services aze received from a variety of sources. The following surtunarizes the major sources of revenue that were budgeted to provide funding for both 2003 and 2002 expenditures (with a more detailed revenue source reported by fund found in the charts located later in this section): rr~s Ratepayer Fees 19.8% Other Revenue 3.6°r6 Interest Income 0.8°~ Interfund Transfers 12.9°r6 Charges for Services 7.5% Intergovermental Revenue 3.9°x6 General Property taxes 36.3°~ Other taxes 8.7°~ Local Option Income Taxes 6.5°r6 B-3