Page 56 - Saginaw FY21 Annual Budget

CITY OF SAGINAW
GENERAL FUND OVERVIEW OF REVENUES

2020-2021

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 growth throughout the
City. The July certified taxable value from TAD is $2,198,509,226. This is $72,552,463 more than last year's
adjusted net taxable value of $2,125,956,763. The taxable value of new construction is $56,778,169.

In Millions TAXABLE VALUE
In Millions
TAXABLE VALUE
$2,500 $1,843 $2,126 $2,199
$2,000
$1,570
$2,000 $1,316 $1,441 $1,570 $1,843
$1,500 $1,193 $1,164 $1,219 $1,276
$1,500 $1,193 $1,164 $1,219 $1,276 $1,316 $1,441
$1,000
$1,000
$500
$500
$0
$0
11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21
20-21
16-17
17-18
19-20
13-14
14-15
18-19
15-16
12-13
11-12
The 2019 tax rate was .459. The 2020 "no new revenue" is .457966. The "no new revenue" tax rate is the
rate required to generate the same tax dollars as last year on the same properties. The "voter approval" rate
is .484903; the highest rate that the City Council may approve without a tax rate election. A tax rate of
.461579 has been used for the 2020-2021 budget. The estimated General Fund tax revenue is $6,249,000.
TAX DEBT M&O SALES TAX TOTAL
YEAR RATE RATE ADJUSTMENT RATE
2019 0.177345 0.281655 (.078581) 0.459000
2020 0.177341 0.284238 (.081169) 0.461579
DIFFERENCE OVER/(UNDER) LAST YEAR .002579
Taxable Value $ 2,198,509,226
Total Rate 0.461579
Total Revenue $ 10,147,857

Debt Rate 0.177341
Debt Revenue $ 3,898,860

M&O Rate 0.284238
M&O Revenue $ 6,248,995

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