Page 64 - Saginaw FY22 Adopted Annual Budget

CITY OF SAGINAW
GENERAL FUND OVERVIEW OF REVENUES

2021-2022

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 $2,387,571,997. This is $189,062,771 more than last
year's adjusted net taxable value of $2,198,509,226. The taxable value of new construction is
$39,728,389.

In Millions TAXABLE VALUE
TAXABLE VALUE
In Millions
$3,000 $1,843
$2,000
$2,500 $1,441 $1,570 $2,046 $2,388
$1,500 $1,164 $1,219 $1,276 $1,316 $1,843 $2,026
$2,000
$1,500 $1,164 $1,219 $1,276 $1,316 $1,441 $1,570
$1,000
$1,000
$500
$500
$0
$0
12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22
13-14
15-16
14-15
12-13
19-20
20-21
21-22
18-19
16-17
17-18
The 2020 tax rate was .461579. The 2021 "no new revenue" is .446984. 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 .496128; the highest rate that the City Council may approve without a tax rate election. A
tax rate of .479516 has been used for the 2021-2022 budget. The estimated General Fund tax revenue is
$6,805,961.
TAX DEBT M&O SALES TAX TOTAL
YEAR RATE RATE ADJUSTMENT RATE
2020 0.177341 0.284238 (.081169) 0.461579
2021 0.194458 0.285058 (.086959) 0.479516
DIFFERENCE OVER/(UNDER) LAST YEAR 0.017937
Taxable Value $ 2,387,571,997
Total Rate 0.479516
Total Revenue $ 11,448,790

Debt Rate 0.194458
Debt Revenue $ 4,642,827

M&O Rate 0.285058
M&O Revenue $ 6,805,961

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