2005 Performance Based Budget - Laserfiche WebLink

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• Encumbrances are recorded as expenditures far budgetary purposes when purchase orders are issued. • Revenues are recorded when received in cash {budgetary) as opposed to when they are subject to accrual (GAAP). • Expenditures are recorded when paid in cash {budgetary) as opposed to when the liability is incurred {GAAP). included in this Financial Summary sectian is a historical comparison of both 2005 Capital and Operating Budgets and 2004 Original (excluding additional appropriations approved during the year) Operating and Capital Budgets along with actual results for the years 2002, 2003 and 2004. These actual results are 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 year-end. The City's 2004 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 2004. 2005 REVENUE SOURCES AND SIGNIFICANT REVENUE TRENDS The City provides the following services: public safety (police and fire), highways and streets, health and social services, culture 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 are received from a variety of sources. The following summarizes the major sources of revenue that were budgeted to provide funding for both 2005 and 2004 expenditures (with a more detailed revenue source reported by fund found in the charts located later in this section): 2005 Revenue Budget Ratepayer Fees zaa% Other Revenue 3.9°/ In#erest Income 0.7 InterfundTransfers ter., ~2s% ChargesfprServices J 7.3 Intergoverrrental Revenue 4.t General Property taxes 3H6% ~`L Other taxes s.s% Local Option Income Taxes 5.7 B-3