Page 59 - Saginaw FY19 Annual Budget
P. 59

CITY OF SAGINAW
                              GENERAL FUND OVERVIEW OF REVENUES
                                                       2018-2019



            The City of Saginaw's General Fund accounts for resources that are traditionally associated with
            governmental activity and which are not required to be accounted for in another fund. These resources are
            used for expenditures of the General Administrative Office, Municipal Court, Fire, Police, Public Services,
            Parks, Community Services, Library, Inspections/Code Enforcement, Animal Services, Fleet Maintenance,
            Information Technology, and Economic Development Departments of the General Fund.


            Below is an overview of the General Fund Revenues. The City's revenues are reviewed individually and are
            based on trend analysis.

            CURRENT PROPERTY TAXES:
            Taxable values have increased as a result of the current economic conditions and slow growth throughout
            the City. The July certified taxable value from TAD is $1,843,457,430. This is $273,255,230 more than last
            year's adjusted net taxable value of $1,570,202,200.  The taxable value of new construction is $58,928,786.



            In Millions                              TAXABLE VALUE
            In Millions
                                                     TAXABLE VALUE
                                                                                                         $1,843
            $2,000                                                                                       $1,843
            $2,000
                                                                                                $1,570
                                                                             $1,316   $1,441   $1,570
                                                                                      $1,441
            $1,500   $1,138   $1,112   $1,193    $1,164   $1,219   $1,276    $1,316
                                                                   $1,276
            $1,500
                                                          $1,219
                                       $1,193
                                                 $1,164
                     $1,138
            $1,000            $1,112
            $1,000
             $500
             $500
               $0
               $0
                     09-10    10-11     11-12    12-13    13-14     14-15    15-16    16-17     17-18    18-19
                     09-10
                                        11-12
                              10-11
                                                          13-14
                                                                    14-15
                                                 12-13
                                                                                                17-18
                                                                                      16-17
                                                                                                         18-19
                                                                             15-16
            The 2017 tax rate was .495. The 2018 effective tax rate is .454363. The effective tax rate is the rate
            required to generate the same tax dollars as last year. The rollback rate is .471806. A tax rate of .471800
            has been used for the 2018-2019 budget.  The estimated General Fund tax revenue is $5,366,835.
            TAX                 DEBT                M&O                  SALES TAX           TOTAL
            YEAR                RATE                RATE                 ADJUSTMENT          RATE
            2017                 0.210814            0.284186            (.096606)            0.495000
            2018                 0.180671            0.291129            (.084777)            0.471800
                                DIFFERENCE OVER/(UNDER) LAST YEAR                             (.023200)
                                Taxable Value        $        1,843,457,430
                                Total Rate                     0.471800
                                Total Revenue        $               8,697,432
                                Debt Rate                      0.180671
                                Debt Revenue         $               3,330,595
                                M&O Rate                       0.291129
                                M&O Revenue          $               5,366,835


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