For the nine months ended September 30, 2015, the City generated $9,436,000 in total revenue and spent $9,370,000 for total expenditures. The City uses fund accounting, and these figures encompass the activity of all funds. Capital expenditures accounted for 44% of the total spending.
Although a use of reserves in 2015 is expected in all funds primarily due to large capital projects, positive revenue trends and the timing of certain projects resulted in an increase in cash during the first nine months of the year.
In the general fund, sales tax is our primary source of revenue to pay for fire, police, streets maintenance and improvements, parks, planning, recreation and administrative support of all these services. City sales tax increased 9.8% so far this year compared to the same time period in 2014. In the water and wastewater enterprise funds, charges for services are tracking as expected. However, the “tap fees” paid for new connections to water and/or wastewater service have already exceeded the full year budget. That is good news for the financial condition of those enterprise funds.
Please read the full report for much more information about the City’s current finances. Should you have questions, please email me – firstname.lastname@example.org. We appreciate our citizens taking the time to understand how your money is being put to use in the community.