Page 153 - City of Westlake FY20 Budget

Section 3
General Fund Overview

Building Permit Revenues
The second largest revenue source in Development Lots Residential Commercial TOTAL
the adopted General Fund budget is
permits and fees charged for Granada 8 $ 230,640 $ - $ 230,640
development activities. Entrada 0 - 891,360 891,360
Vaquero 4 141,960 - 141,960
Budgeted to be $2.6M; and comprises Quail Hollow 8 341,520 - 341,520
24% of General Fund total revenues Terra Bella 1 36,930 - 36,930
and sources. This reflects a 51% Knolls at Solana 10 146,920 - 146,920
decrease of $2.7M when compared to
prior year estimates. Schwab/Front 44 0 - 27,645 27,645
Solana 0 - 125,000 125,000
As stated previously, this is primarily Deloitte 0 - 40,000 40,000
due to the receipt of Schwab permit Other Permits 1 254,800 398,550 653,350
fees in the prior year. TOTAL 32 $ 1,152,770 $ 1,482,550 $ 2,635,325

Revenue from residential permits is projected to be $1.152M for 32 permits with commercial permits
projected at $1.482M.

Ad Valorem Property Tax
The third largest revenue source in the adopted General Fund budget is ad valorem property tax revenues.
The Maintenance and Operations (M&O) portion of the rate is budgeted to be $1.6M and comprises 15%
of the General Fund total revenues and sources, this reflects a 6% decrease of $98K when compared to
prior year estimates due to a shift from M&O to I&S for FY19/20.

The ad valorem tax rate per $100 of assessed valuation is proposed to increase from $0.15600 to $0.16018
which is comparable to the tax rate adopted in 2010 and remains one of the lowest in the immediate area as
well as the State.

The tax rate of $0.16018
is allocated between
1. The General Fund for
Maintenance and
Operations (M&O)
2. The Debt Service Fund
for Interest and Sinking
(I&S)

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