Page 107 - HurstFY23AnnualBudget

APPROVED BUDGET FISCAL YEAR 2022-2023

PERCENT PER CATEGORY

0%
5%
14%

Personnel Services
4%
Materials and Supplies
2%
Maintenance
Sundry Charges
Internal Services
75%
Capital Outlay

The General Fund Resources
graph indicates that the largest GENERAL FUND RESOURCES
source of revenues for the Misc/Intergovernmental 1%
General Fund is from Ad Valorem
taxes. Ad Valorem, or property Licenses/Permits 2%
taxes, comprise 45% of budgeted
revenues and are assessed on Fines 2%
both real property and
Charges for Services 5%
commercial business property
which includes inventories. Franchise Tax 6%
Residential property taxes are the
primary component of Ad Intragovernmental 14%
Valorem revenues, followed by
commercial property and Sales Tax 25%
inventory.
Property Tax 45%
Sales and consumption taxes
0% 10% 20% 30% 40% 50%
comprise 25% of budgeted
revenues and includes city sales tax, mixed beverage tax, and bingo tax. These consumer taxes
are levied by the City and collected by the State. The City has a total sales tax rate of 2% of the
sales tax collected on goods and eligible services sold within the City monthly, with 1% allocated
to the General Fund, ½% allocated to the Community Services Half-Cent Sales Tax Fund, and ½%
allocated to the Anti-Crime Half-Cent Sales Tax program. In 2010, voters approved a twenty-year
extension of the City’s ½% Anti-Crime Sales Tax program. Anti-Crime receipts, like the Community

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