Page 151 - CityofWataugaAdoptedBudgetFY25
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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 = $18,691,820
Revenues are forecasted at approximately 5.3% more than prior year, or by $891,280
due in large part to property tax and charges for services increases offset by a slight
decline in sales tax. Other revenues such as permits, fines and forfeitures are forecast
to increase this year. Property tax revenue has been based on maintaining the City’s
current tax rate, and is expected to bring in approximately $7.8 million at the FY2025
tax rate of $0.570200/100 of valuation.
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