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Regular Meeting of the City Council <br />Jan 13, 2003 <br />Page 13 <br /> <br />Mr. Anderson advised that if you compare last years' balance with this years' <br />balance, you will note that it is up to just over a million dollars. He said this <br />is due to a one time settle up payment from TXU and the city received about <br />$130,000.00 from litigation. Also, there were timing differences in other <br />franchise payments, increase in the property tax collections from a larger tax <br />roll, reimbursements received on grants, and increased sales tax collections. <br /> <br />Mr. Anderson said that the second page of his report contains key revenue, <br />budget verses actual. The first one listed is current property taxes and only the <br />operating and maintenance part of the tax, not the debt related tax, was <br />considered. He said in the current year 27.62% of the budget was compared <br />to 27.97% received last year. Mr. Anderson stated that property taxes are <br />24.8% of the General Fund Budget. The sales taxes represents 19.67% of the <br />General Fund Budget. The franchise fees represent 13.08% of the General <br />Fund Budget. The total of these key revenues adds up to be over 50% of the <br />General Fund Budget. <br /> <br />Mr. Anderson said in the Water and Sewer Fund the sewer charges represent <br />37.58% of the Water and Sewer Budget, which is a substantial number. Water <br />sales represent 55.45% of the Water and Sewer Budget. Those two revenues <br />are over 93% of the Water and Sewer budget, and it is critical that the city <br />keeps those two revenues in good shape. <br /> <br />Mr. Anderson said the last page of his report is a departmental expenditure <br />summary showing each department's budget, year-to-date actual expenditures <br />through December, 2002. The percentage of the budget that has been <br />expended, the prior year's budget, year-to-day actual expenditure through <br />December, 2001, and the percentage of the budget that has been expended was <br />also shown for comparison. <br /> <br />Mr. Anderson pointed out that he did have a footnote regarding the City <br />Council's budget because, by looking at the percentage number, it is <br />misleading because it is so large compared to where they would think it would <br />be. He advised that the reason for this is that the city collects sales tax for the <br /> <br /> <br />