Page 93 - Watauga FY21 Budget

GENERAL FUND

The General Fund is a Governmental Fund, which means that it is used to account for
tax-supported activities that benefit all citizens. The General Fund is used to account

for all revenues and expenditures not accounted for in other funds. It receives a
greater variety of taxes and other revenues and finances a wider range of
governmental activities than other funds. The fund is accounted for on the modified
accrual basis of accounting. Revenues are recorded when available and measurable

and expenditures are recorded when the liability is incurred.

Where does the money come from?

GENERAL FUND REVENUES
TOTAL = $13,383,681

Revenues are forecasted at approximately 3.9% less than prior year, or by $540,811
due in large part to sales tax declines, fines and forfeitures, charges for services, and

interest income. For property tax revenues, the no new revenue maintenance and
operations rate is reflected in the budget, thus property tax revenues remain flat with

last year.
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