4. Summary of Revenue Forecast In each revenue forecast category, the following growth rates are included: • Historical Growth Rate – The cumulative annual rate of growth for the past five years, FY2016 through FY2020. • Projected Growth Rate – The cumulative annual rate of growth projected for the current five-year forecast, FY2025 through FY2030. 4.1 General Fund Revenues The General Fund revenue consists of Property Tax, Sales Tax, Licensing, Permit Fees and Charges for Services and Intergovernmental Transfers. Revenues have increased by 11.1 Million between FY2016 and FY2020 marking $ 47,259,363 in 2020 revenues. Over the next 5-years, General Fund Revenue is expected to grow at an average rate of 2.29 percent annually supported by the increase in assessed property value and projected increase in sales tax revenue. Historical Growth Rate : 21.0% Projected Average Growth Rate: 2.29%
General Fund Revenue
$28 $33 $38 $43 $48 $53 $58 $63 $68
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
The table below summarizes the historical revenue figures for the past five years and provides a forecast for the future period. The Estimated Growth Factor (EGF) for each category is listed in the last column.
Revenue from General Fund Sources
$ 11,103,902.3200
Revenue Source
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
EGF
Inter-Governmental
$ 549,279 $ 1,253,353 $ 398,970 $ 391,609 $ 1,167,114 $ 16,880,059 18,481,531 $ $ 20,203,096 23,214,416 $ $ 25,322,799 $ $ $ 11,563,855 11,608,438 $ $ 12,485,763 12,500,148 $ $ 13,338,726 $
677,033
$
558,321
$
678,114 $
684,895 $
691,744 $
698,662 $
705,648 $
712,705 $
719,832 1.00%
Property Tax Non Prop. Tax
29,036,682 $ 16,994,078 $
32,455,825 35,057,155 $ $ 35,702,207 36,359,127 $ $ 37,028,135 37,709,453 $ $ 38,403,307 39,109,928 $ 1.84% 16,911,281 12,863,194 $ $ 13,249,090 13,646,563 $ $ 14,055,959 14,477,638 $ $ 14,911,967 15,359,326 $ 3.00%
Permits and Fees Municipal Court Charges for services
$ 1,280,155 $ 1,407,042 1,395,670 $ $ 1,090,270 $ 1,496,317 $ 1,358,874 $ 1,319,502 1,450,463 $ $ 1,242,345 $ 1,050,472 $ 2,135,561 $ 2,289,916 2,015,685 $ $ 2,291,232 $ 2,001,920
$ $ $ $ $ $
1,443,363
$ $ $ $ $ $
1,540,833 $
2,257,570 $ 2,331,618 $ 2,408,095 $ 2,487,081 $ 2,568,657 $ 2,652,909 $ 2,739,925 3.28%
943,632
885,257
$
865,291 $
865,291 $
865,291 $
865,291 $
865,291 $
865,291 $
865,291 0.00%
1,473,093
2,356,887 $
2,350,999 $ 2,445,039 $ 2,542,841 $ 2,644,554 $ 2,750,336 $ 2,860,350 $ 2,974,764 4.00%
Earnings on Investments $ Contributions/donations $
99,815 $ 16,267 $
111,648 $ 224,863 $ 385,505 $
461,744
172,708
113,870 25,000
$ $
770,385 $
774,237 $
778,108 $
781,999 $
785,909 $
789,838 $
793,787 0.50%
12,580 $
15,103 $
4,474
$
2,817
1,114
-
$
-
$
-
$
-
$
-
$
-
$
-
0.00%
Other Total
$ 2,271,597 $ 2,542,388 2,431,724 $ $ 2,441,365 $ 2,417,454
2,489,734
2,321,444 $
2,328,085 $ 2,421,208 $ 2,518,057 $ 2,618,779 $ 2,723,530 $ 2,832,471 $ 2,945,770 4.00%
$ 36,155,461 39,026,399 $ $ 40,621,335 43,561,364 $ $ 47,259,363 $
53,231,437 $ 57,168,718 57,170,793 $ $ 58,473,585 59,809,826 $ $ 61,180,460 62,586,462 $ $ 64,028,838 65,508,623 $ 2.29%
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