REVENUE & EXPENDITURE ASSUMPTIONS
SUMMARY OF GENERAL FUND RESOURCES
Table 1 summarizes and compares FY 2018-19 to FY 2021-22 actual General Fund resources, FY 2022-23 adjusted budget, FY 2023-24 and FY 2024-25 adopted resources, and FY 2025-26 to FY 2027-28 forecasted resources.
Table 1: General Fund Resources
2018-19 Actual
2019-20 Actual
2020-21 Actual
2021-22 Actual
2022-23 Adjusted
2023-24 Adopted
2024-25 Adopted
2025-26 Forecast
2026-27 Forecast
2027-28 Forecast
Property Tax
71,233,650 76,376,791
80,796,199
85,209,426 88,116,679 84,008,307 84,599,625 13,749,850 14,768,352
93,711,819 97,919,816 91,934,858 95,312,227 17,741,311 19,111,419
102,641,074 107,195,831 98,171,594 101,116,742 20,379,455 21,679,523
111,997,942 104,150,244 23,925,059
Sales Tax Hotel Tax
69,597,037
64,855,382 68,259,797
16,463,350 12,383,346
5,787,417
Program & Service Fees Miscellaneous and Other Franchise Tax Utility Users Tax
11,155,498 8,122,322
5,712,253 11,595,994
12,066,014 12,823,383
13,077,502 13,208,277
13,340,360 13,473,763
9,577,478 10,147,033
7,961,940
10,070,389 11,985,038
11,605,991 11,609,367
11,706,440 11,804,903 11,060,903 11,171,512
11,904,778 11,283,227
9,125,631 4,627,907
8,954,033 9,160,380
9,673,253
8,853,947 10,746,766 4,857,890 6,254,905
4,594,133
4,775,611 5,348,707
6,366,906 6,452,859
6,539,973 6,628,262
Documentary Transfer Tax
4,385,316 3,460,999
4,671,009
4,860,834 3,611,400
3,936,079 4,027,003
4,107,543 4,189,694
4,273,488
Hotel Improvement District Subtotal Revenues
4,115,837 3,095,837 200,281,706 191,989,874 4,613,134 3,707,580
1,446,855 3,437,471 188,571,460 227,954,231 5,808,582 67,941,740 194,380,042 295,895,971
3,486,417 1,108,832 232,345,362 249,863,944 3,004,775 3,601,258 235,350,137 253,465,202
1,194,464 1,273,716
1,354,970 1,495,316
259,570,093
269,001,861 278,393,508 3,841,846 3,897,483
289,132,079
Transfers In
3,787,300
3,954,233
Total Resources
204,894,840
195,697,454
263,357,393 272,843,707
282,290,990 293,086,312
In FY 2023-24 and FY 2024-25, General Fund Operating Revenues are anticipated to increase 7.7 and 3.9 percent, respectively. The increase in operating revenues is due primarily to continued growth in property, sales, and hotel tax offset by 75 percent transfer of Hotel Improvement District revenue to a special fund. The following chart illustrates the composition of the City’s General Fund re sources projected for FY 2023- 24.
50
FY 2023-25 Adopted Budget
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