Major Revenue Comparison All Funds
Major Revenues Comparison ‐ All Funds
$40,000,000
$35,000,000
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$‐
Interest
Intergover nmental
Administra tive Fees
Fines & Forfeitures
Licenses & Permits
Misc.
Hotel Occupancy Taxes
Charges for Services
Property Taxes
Sales Taxes
Utility Franchise Fees
FY 2020 Actuals FY 2021 Projected
$32,038,191 $32,516,303 $10,411,433 $4,785,447 $5,977,304 $1,992,971 $1,120,283 $1,491,993 $1,913,830 $894,320 $1,522,910
$33,208,875 $35,700,384 $11,360,000 $5,001,290 $5,376,759 $1,992,971 $1,206,500 $1,132,000 $27,472,600 $750,000 $315,715 FY 2022 Proposed Budget $34,588,800 $38,907,460 $15,916,250 $4,836,290 $6,231,907 $1,992,971 $1,142,000 $1,170,500 $16,880,130 $1,000,000 $216,300
FY 2020 Actuals
FY 2021 Projected FY 2022 Proposed Budget
Sales Taxes comprise 1 3 .0% of the total budgeted revenues. The city receives 2 cents of the total 8.25% remitted to the State for the sale of goods and services in DeSoto. The 2 cents received is allocated to the General Fund, the Economic Development Corporation and the Park Development Corporation according to a formula specified by City Council . Franchise Fees make up 3 .9% of the total budgeted revenues. This fee is charged to specific utilities that conduct business in DeSoto and is based on gross receipts. The City also receives franchise fees from its Public Utility enterprise fund that provides water and wastewater treatment services to DeSoto residents and businesses. Intergovernmental revenue represents 5. 1 % of the total budgeted revenues. These funds represents revenue from federal or state grants, other local government entities, participant share income from regional dispatch and jail, reimbursements from other government entities, and state and federal seized funds. The administrative fee revenue is charged to the Utilities which are apart of the government entity for which general services are provided. Fines and forfeitures are from municipal court actions. License and permits represent revenues for permits for building, alarm, and general use . This accounts for 1.6% of the total . Miscellaneous Revenues represent 1 3 . 7 % of the total budgeted revenues. This source consist of Debt proceeds, auction proceeds, Lease income, donations, interest income and various other revenue sources. Property Taxes represent 3 1 . 7 % of total budgeted revenues. This revenue is based on the assessed value of commercial, residential and business personal property in the City of DeSoto. The assessed value is multiplied by the tax rate of 70 . 1554 cents per $100 taxable v aluation.
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