ACFR FY 2023 Final - Flipbook - Page 31
City of Eustis, Florida
FINANCIAL SECTION
Figure 1: Revenues by Source
The most signiocant revenue source for governmental activities continues to be property taxes which
represent 34ÿ6% of total governmental activity revenueÿ property tax revenues for the year increased
8ÿ6% as a result of an increase in taxable property values, driven by increased local real estate
market values and new residential constructionÿ State shared revenues, the second largest governmental activities revenue source, comprise 20ÿ9% of governmental revenuesÿ State-shared revenues
include sales tax revenue, state intergovernmental revenue, and grantsÿ Charges for services, the
third largest governmental activities revenue source, represents 23ÿ6% of governmental revenuesÿ
Other revenue sources are highlighted in the chart belowÿ
Revenues by Source - Governmental Activities
(does not include transfers)
Property tax: 34.6 %
Operating grants
and contributions:
contributions:
and
10.6%
Franchise Fees: 7.3 %
Utility Service Tax: 9.5 %
Investment
Investment
income (loss):
69.2%
Other: 4.1 %
Charges for services: 23.6 %
Miscellaneous:
Miscellaneous:
20.1%
State Shared
Revenue: 20.9 %
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 City9s net position by $4,448,914. The most signiocant reasons
for the change in net position are as follows:
property taxes increased by $866,608, mainly due to an increase in taxable assessed valuesÿ
Utility tax and franchise fees increased by $430,265ÿ Investment income increased by $671,509ÿ
During the oscal year miscellaneous income decreased by $336,512 attributable to various City
events and projectsÿ The City received a Historic preservation Grant of $47,441 and also entered
into a business Incubator agreement with the UCFRF - University of Central Florida Research
Foundationÿ Operating Grants and Contributions increased by $49,420 from the prior yearÿ Unlike
grants, Unrestricted Intergovernmental Shared Revenues decreased by $677,903ÿ
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Annual Comprehensive Financial Report | September 30, 2023
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