ACFR FY 2022 FINAL BOOK - Flipbook - Page 31
FINANCIAL SECTION
City of Eustis, Florida
Figure 1: Revenues by Source
The most significant revenue source for governmental activities continues to be property taxes
which represent 36�6% of total governmental activity revenue� Tax revenues for the year increased
primarily due to increased property taxes revenue, which grew as a result of increase in the taxable
property values by 10�1%, driven by increased local real estate market values and new residential
construction development� State shared revenues as a second considerable revenue source compile
27�0%� State shared revenues include sales tax revenue, state intergovernmental revenue, and grants�
Charges for services are the third significant City revenue source, 15�4% of the exact total� Other
revenue sources are highlighted in the chart below�
Revenues by Source - Governmental Activities
(does not include transfers)
Property tax: 36.6 %
Franchise Fees: 7.7 %
Operating grants
and contributions:
9.5%
Investment
income (loss):
16.7%
Other: 3.2 %
Miscellaneous:
73.8%
Utility Service Tax: 10.0 %
State Shared
Revenue: 27.0 %
Charges for services: 15.4 %
Charges for services
Property tax
Utility Service Tax
Other
Operating grants
and contributions
Investment
income (loss)
Franchise Fees
State Shared
Revenue
Miscellaneous
Governmental activities increased the City’s net position by $7,224,845� The elements of change in
net position are as follows:
property taxes increased by $559,082, mainly due to an increase in taxable assessed values�
Utility tax and Franchise fees increased by $268,901 as well as an investment income increased by
$101,492�
During the fiscal year, due to various City events and projects, miscellaneous income decreased by
$9,864� The City did not receive any governmental Capital Grants in the fiscal year 2022� Operating
Grants and Contributions decreased by $301,703 from the prior year� Contrary to grants, Unrestricted
Intergovernmental Shared Revenues increased by $780,648�
Annual Comprehensive Financial Report | September 30, 2022
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