Page 15 - WestworthVillageFY25ApprovedBudget

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General Fund Revenue Overview

Proposed Proposed Proposed Proposed Proposed
2025 2026 2027 2028 2029
REVENUE
Franchise Fees $ 267,153 $ 242,473 $ 246,548 $ 231,129 $ 238,906
Permit Fees $ 155,250 $ 175,250 $ 173,350 $ 99,250 $ 99,250
Sales Tax $ 2,329,150 $ 2,352,242 $ 2,375,564 $ 2,375,564 $ 2,399,120
Additional Revenue $ 367,035 $ 317,599 $ 335,085 $ 314,346 $ 328,070
Court Fines & Fees $ 244,500 $ 228,500 $ 229,300 $ 230,104 $ 230,912
WRA Distribution $ 117,591 $ 120,685 $ 125,074 $ 128,915 $ 132,906
HC Apartment Fee $ - $ - $ - $ - $ -
Ad Valorem Tax $ 2,492,984 $ 2,517,914 $ 2,543,093 $ 2,568,524 $ 2,594,209
Misc Revenue $ 5,600 $ 5,600 $ 5,600 $ 5,600 $ 5,600
Total Revenue $ 5,979,263 $ 5,960,263 $ 6,033,614 $ 5,953,432 $ 6,028,973

Goals and Objectives:
Goal: Have diverse and adequate funding sources
1. Objective: Maintain revenues to not be overly reliant on a single source
2. Objective: Maintain a minimum of six months’ operating expenses in reserves

Goal: Operate the organization in a fiscally conservative manner
1. Objective: To adopt a tax rate equal to or less than the prior year
2. Objective: To increase the city’s taxable value to decrease the overall tax burden

Performance Indicators:

FY 2024 FY 2025
Goal Indicator FY 2021 FY 2022 FY 2023
Projection Budget
1 % of sales tax to overall revenue 33% 25% 25% 27% 39%
1 % of ad valorem tax to overall revenue 24% 42% 46% 49% 42%
1 % of none tax revenue to overall revenue 43% 33% 29% 24% 19%
Months of operational expenses in General
2 9 11 11.5 12 12
Fund reserves
3 Revenues exceeded expenses Yes Yes Yes Yes Yes
3 M & O tax rate $0.26 $0.23 $0.24 $0.34 $0.30
4 Citywide taxable value $358,527,323 $381,989,884 $442,995,786 $492,659,326 $524,838,685

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