ACFR - FY2021 FINAL 5-13-22 USE THIS ONE - Flipbook - Page 37
Figure1: Revenues by Source
The most significant revenue source for governmental activities continues to be property taxes which represent
38% of total governmental activity revenue. State shared revenues as a second considerable revenue source
compile 26.3%. State shared revenues include sales tax revenue, state intergovernmental revenue, and
grants. Charges for services are the third significant City revenue source, 12.8% of the exact total. Other
revenue sources are highlighted in the chart below.
Governmental activities increased the City’s net position by $4,438,381. The elements of change in net position
are as follows:
Property taxes increased by $483,693, mainly due to an increase in taxable assessed values.
Utility tax and Franchise fees increased by $56,600, due to the City community’s conservative use of utilities
during COVID-19. Investment income decreased by $73,699.
Due to various City events and projects, miscellaneous income increased by $56,730. The City did not receive
any Capital Grants in the fiscal year 2021. Operating Grants and Contributions increased by $373,472 from
the prior year. This increase is related to grant funding for COVID-19 or other emergency protective measures.
Unrestricted Intergovernmental Revenue decreased by $450,210.
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