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• Encumbrances are recorded as expenditures far budgetary purposes when purchase <br />orders are issued. <br />• Revenues are recorded when received in cash (budgetary) as apposed to when they are <br />subject to accrual (GAAP). <br />• Expenditures are recorded when paid in cash (budgetary) as opposed to when the <br />liability is incurred (GAAP). <br />included in this Financial Summary section is a historical comparison of both 2006 Capital and <br />Operating Budgets and 2005 Originisl (exchzding additional appropriations approved during the <br />year) Operating and Capital Budgets along with actual results for the years 2003, 2004 and 2005. <br />These actual results are recorded on a cash basis in order that a fair comparison can be made with <br />the City's acmual budgets. As a result of the cash basis presentation for these years, an adjustment <br />for each fiord was requ~ed to convert from the cash to the modified accrual basis m order to <br />adequately reflect the projected fund balance at year-end. The City's 2005 financial results have <br />not yet been audited as of the date of this publication, so no adjustments to the accrual basis have <br />been ~cluded for 2005. <br />280C- REVENUE SOURCES AND SIGIITIFICANT REVENUE TRENDS <br />The City provides the following services: public safety {police and fire), highways and streets, <br />health and social services, cuhure anal recreation, public improvements, Alarming and zoning, <br />general a,dministraxive services, water, sewer, solid waste services, and urban redevelopment and <br />housing. The costs incurred to provide these services are included in the City's annual budgets. <br />The revenue required to fund these services are received from a variety of sauroes. The following <br />summarizes the major sources of revenue drat were budgeted to provide funding for both 2006 <br />and 2005 expenditures (with a more detailed revenue source reported by fund found in the charts <br />located later in this section): <br />2006 REVENUE BUDGET <br />Ratepayer Fees <br />20% <br />Other Revenue <br />4% <br />interest Income ~ <br />1% t <br />_ i <br />Interfund Transfers <br />15% <br />Charges for Services) <br />7% <br />Intergovermentai <br />Revenue <br />4% <br />_ General Propariy <br />'-`~~_ taxes <br />'~~ as% <br />~Rfertaxes <br />8% <br />Local Option Innnme <br />Taxes <br />5% <br />~-~ <br />