ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 30
Figure1: Revenue by Source
The most significant revenue source for governmental activities continues to be property taxes which represent
37.2% of total governmental activity revenue. State shared revenues as a second large revenue source
compiles 29.5%. State shared revenues include sales tax revenue, state intergovernmental revenue in addition
to grants. Charges for services is the third significant City revenue source, 11.4% of the same total. Other
revenue sources are highlighted in the chart below.
Governmental activities the City’s net position by $596,080. The elements of change in net position are as
follows:
Property taxes increased by $638,773 mainly due to an increase in taxable assessed values.
Franchise Fees increased $990,187. Investment income decreased significantly - $136,071.
City hasn’t received any Capital Grants in FY20, in comparison with the prior year.
Operating Grants and Contributions decreased $611,454 from the prior year. The portion of this decrease is
relates to grant funding for Hurricane Irma or other emergency protective measures. State Shared Revenues
increased $1,270,143. Utility taxes also increased $574,006.
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