Where the Money Comes From
Of the $292M estimated in revenues and transfers in, $158M is generated from governmental funds, which support the primary functions of the City. Revenues from the enterprise funds, financed primarily by user charges, including the international bridge, the airport, water and sewer utilities and sanitation, amount to $115M with the balance of $19M coming from internal service funds.
Of the amount designated from governmental funds, $98M comes from taxes. Within tax revenues, sales tax makes up the largest part, amounting to $59M, which is particularly noteworthy since it has been estimated that 60% of this tax is paid by visitors to our City. It has helped keep property taxes low when benchmarked against other cities within the state. At a 42c rate, property taxes are expected to generate $30M, with the balance of taxes coming from franchise fees and hotel occupancy tax. The balance of governmental revenues is estimated to be primarily from state and federal grants and transfers-in.
Where the Money Goes
Of the total $382M in budgeted expenditures and transfers-out, $196M relate to governmental funds, which account for core city activities primarily supported by taxes. $168M is attributable to enterprise funds, which charge user fees for services with the balance of $18M relating to internal service fund activities.
Of the total governmental funds’ expenditures, $49M is allocated for public safety, $50M for highways and streets, $26M for culture and recreation, $24M for general government, $34M for transfers-out, $3M for health and welfare, $9M for economic development and $.6M for debt service