TopRated
TheCityhasmaintainedaAAA rating fromFitch
Ratings since2001andaAaa fromMoody’s since
2004. These ratings - thehighestavailable fromboth
agencies -allow theCity to secure the lowest interest
rateswhen issuingbonds,whichultimately results
in savings to the taxpayers. In2014, theCity issued
$11,845,000 inGeneralObligationCapital Facilities
ImprovementBonds to fund landacquisition in the
BridgeStreetDistrict, aportionof theconstruction
of EmeraldParkwayPhase8andcosts related to the
270/33 Interchange. Additionally, theCity refinanced
$11,800,000 inoutstandingBuildAmericanBonds.
(1) Advances arenot required tobebudgeted.
23
BuildingOur Financial Futurecon’t.
Revised
Variance
Percent
Budget
Actual
fromBudget
ofTotal
BeginningBalance
$149,824,363
$149,824,363
$ -
Revenues:
Income taxes
76,475,000
88,068,530
11,593,530
70.4%
Property taxes
3,234,519
3,466,600
232,081
2.8%
Servicepayments
8,597,439
8,325,495
(271,944)
6.7%
Hotel/Motel taxes
1,500,000
2,005,534
505,534
1.6%
Intergovernmental revenues
3,395,847
3,247,951
(147,896)
2.6%
Special assessments
242,042
238,990
(3,052)
0.2%
Local, stateand federal grants
1,562,345
1,036,909
(525,436)
0.8%
Charges for services
9,918,640
12,191,762
2,273,122
9.8%
Licenses, nes andpermits
2,058,962
3,823,203
1,764,241
3.1%
Interest income
694,182
774,216
80,034
0.6%
Miscellaneous
1,069,130
1,848,756
779,626
1.5%
Total Revenues
108,748,106
125,027,946
16,279,840
100.0%
OtherSources:
Refunds and reimbursements
62,956
878,077
815,121
Reimbursements-interfund
4,582,750
4,495,469
(87,281)
Agency fund revenues
4,801,901
4,915,817
113,916
Trust fund revenues
21,230
66,113
44,883
Debt proceeds
18,475,000
24,169,902
5,694,902
Transfers
24,900,173
22,350,871
(2,549,302)
Advances (1)
-
28,328,500
28,328,500
TotalOther Sources
52,844,010
85,204,749
32,360,739
Total Revenues andOther Sources
161,592,116
210,232,695
48,640,579
Total ResourcesAvailable forExpenditures
311,416,479
360,057,058
48,640,579
AllRevenuesbySource
