Page 68 - GFOA Draft 2

CITY OF SAGINAW
GENERAL FUND OVERVIEW OF REVENUES
2022-2023

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 O ce, Municipal Court, Fire, Police, Public Services, Parks, Community Services, Library, Inspections/Code
Enforcement, Animal Services, Fleet Maintenance, Information Technology, Economic Development, Emergency
Management, and Communications 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
certi ed taxable value from TAD is $2,624,817,142. This is $237,245,145 more than last year's adjusted net taxable value
of $2,387,571,997. The taxable value of new construction is $44,497,540.

TAXABLE VALUE
$3,000
$2,625
$2,388
In Millions $1,000 $1,219 $1,276 $1,316 $1,441 $1,570 $1,843
$2,000
$2,046
$2,026

$0
13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23

The 2021 tax rate was .479516. The 2022 "no new revenue" is .439714. 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 .532488; the highest rate
that the City Council may approve without a tax rate election. A tax rate of .508042 has been used for the 2022-2023
budget. The estimated General Fund tax revenue is $7,166,080.

SALES TAX
TAX YEAR DEBT RATE M&O RATE TOTAL RATE
ADJUSTMENT
2021 0.199458 0.285058 (.086959) 0.479516

2022 0.234886 0.273156 (.085385) 0.508042
DIFFERENCE OVER/(UNDER) LAST YEAR 0.028526
Taxable Value $ 2,623,436,994
Total Rate 0.508042
Total Revenue $ 13,328,162
Debt Rate 0.234886
Debt Revenue $ 6,162,086
M&O Rate 0.273156
M&O Revenue $ 7,166,076

With a tax rate of .508042, the maintenance and operation rate for the General Fund will be 54% of the total tax rate and
the portion for the Interest and Sinking Fund will be 46% of the total tax rate.

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