Adopted FY 2014 - 2015 Budget - Laserfiche WebLink

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MAJOR GENERAL FUND REVENUE SOURCES: Taxes: Utility Taxes and Franchise Fees - $3.6 million These taxes represent approximately 19% of the total revenue of the General Fund. Utility taxes are a public service tax assessed on electricity, water, and metered propane purchases in the City of Casselberry. Franchise fees are assessed on a business, usually a public utility, in return for the privilege of using the government's rights-of-way to conduct the utility business. The City has granted franchise fees for electric, natural gas, and commercial solid waste. Franchise and utility fees related to electric sales account for the majority of these revenue sources. A slight increase is projected for this revenue source for fiscal year 2015 as a result of trending revenues. Intergovernmental Revenue (Sales Tax/Municipal Revenue Sharing/Other Shared Revenues) - $2.9 million The State allocates 1.3409% of sales and use tax revenues, net collections from the one -cent municipal fuel tax on motor fuel, and 12.5% of state alternative fuel user decal fee collections to fund the Municipal Revenue Sharing Program. The City's revenue forecast anticipates $935,287 in distributions to the City for fiscal year 2015, increased by a GDP factor. Another important revenue source is the one-half cent of sales tax collected by the State of Florida and distributed on a per capita basis. The distribution is apportioned by the City's population relative to other cities in the state. It is predicted to yield $1,755,979, representing a 7.6% increase over the prior year due to growth in GDP. Intergovernmental revenues make up 15% of the General Fund revenues. As State forecasts have not been released as of the publication date, forecasts have been prepared utilizing trending and estimated growth in GDP. Other intergovernmental revenues include rebates on municipal fuel and the City's share of various licenses collected at the State level. In addition, the City benefits from miscellaneous County shared revenues. Charges for Services - $1.1 million The greatest portion of this revenue source relates to Ambulance Fees, which are charges resulting from the transportation of injured persons to the local hospitals. The estimate used for the fiscal year 2015 budget is $950,000. A slight growth is projected for this revenue source. The City Commission approve rate increases near the end of fiscal year 2014. Interfund Transfers - $3.2 million Overhead transfers from other funds to the General Fund reflect recovery of administrative costs associated with operating the fund. These transfers are based on the operating costs of the prior year in each fund. Built into the fiscal year 2015 budgeted transfer from the Building Safety Fund is $100,000 that was originally transferred into this fund in FY 2010 in order to begin the fund. The transfers into the General Fund for fiscal year 2015 are from the following funds: Solid Waste Fund - $124,450, Stormwater Fund - $72,985, Building Safety Fund - $112,037 and the CRA - $133,200. Transfers related to the Water & Sewer System include a cost recovery transfer of $1,242,937, and a Utility Investment Transfer, $1,465,968, for the vested interest in the Utility System that the City maintains. The Utility Return on Investment Transfer is calculated based on 7.5% of budgeted gross revenue. page 18