Page 146 - Hurst FY19 Approved Budget

GENERAL FUND

Where the Money Comes From

Ad Valorem Tax $13,784,585

Consumer Tax $9,007,397

Intragovernmental $6,575,121

Franchise Tax $2,878,000

Charges for Services $2,062,150

Fines $1,472,000

Licenses / Permits $781,000

Intergovernmental $268,878

Miscellaneous $216,835

The above graph indicates that the largest source of revenues for the General Fund is
from Ad Valorem taxes. Ad Valorem or property taxes are collected on both real property
and commercial inventories. Residential property taxes are the primary component
of Ad Valorem revenues, followed by commercial property and inventory. Consumer
taxes are City sales tax, mixed beverage tax and bingo tax. These consumer taxes are
collected by the State. The State remits 2% of the sales tax collected on goods and
eligible services sold within the City monthly, with 1% allocated to the General Fund,
½% allocated to the Community Services Half-Cent Sales Tax Fund, and ½% allocated
to the Anti-Crime Half-Cent Sales Tax Fund. In 2010, voters Approved a twenty-year
extension of the City’s ½% Anti-Crime Sales Tax Program. Anti-Crime receipts, like the
Community Services taxes, are not deposited to the General Fund but assist in relieving
the General Fund budget for ongoing and new crime control and prevention activities.
Consumer taxes are harder to predict than most other revenue sources because receipts
reflect conditions of the national, regional, and local economy through retail sales.

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