13
Financial
Reportcon’t.
Top-rated
TheCityhasmaintainedaAAA rating fromFitch
Ratingssince2001andaAaa fromMoody’ssince
2004. These ratings - thehighestavailable from
bothagencies -allow theCity tosecure the lowest
interest rateswhen issuingbonds,which
ultimately results insavings to the taxpayers.
In2013, theCity issued$9,855,000 inGeneral
ObligationCapital Facilities ImprovementBonds
to fund landacquisition in theBridgeStreet
Districtandaportionof theconstructionof
EmeraldParkwayPhase8.
(1) Advances arenot required tobebudgeted.
AllRevenuesbySource
Revised
Variance
Percent
Budget
Actual
fromBudget
ofTotal
BeginningBalance
$136,015,772
$136,015,772
$-
Revenues:
Income taxes
74,874,400
82,105,369
7,230,969
70%
Property taxes
3,244,950
3,424,965
180,015
3%
Servicepayments
6,100,599
6,801,831
701,232
6%
Hotel/Motel taxes
1,500,000
1,926,307
426,307
2%
Intergovernmental revenues
4,011,379
4,822,701
811,322
4%
Special assessments
242,343
245,705
3,362
<1%
Local, stateand federal grants
873,780
687,573
(186,207)
<1%
Charges for services
8,295,030
10,796,549
2,501,519
9%
Licenses, fines andpermits
1,921,552
3,512,250
1,590,698
3%
Interest income
1,709,495
874,606
(834,889)
1%
Miscellaneous
689,010
1,306,913
617,903
1%
Total Revenues
103,462,538
116,504,769
13,042,231
100%
OtherSources:
Refunds and reimbursements
63,170
263,422
200,252
Reimbursements-interfund
5,317,000
5,044,287
(272,713)
Agency fund revenues
1,555,150
1,650,783
95,633
Trust fund revenues
11,450
79,864
68,414
Debt proceeds
9,855,000
9,992,433
137,433
Transfers
21,791,094
20,791,333
(999,761)
Advances (1)
-
19,430,250
19,430,250
TotalOther Sources
38,592,864
57,252,372
18,659,508
Total Revenues andOther Sources
142,055,402
173,757,141
31,701,739
Total ResourcesAvailable forExpenditures
$278,071,174
$309,772,913
$31,701,739
