2020/12/16 Council Agenda Packet

These General Government services are supported by the City's General Fund and a number of other dedicated funds that are technically separate from the General Fund, including: Parks & Community Services Fund Library Fund ® Municipal Arts Fund • Conference Center Fund ® Street Improvements Fund ® Streets Fund References in this report to General Government budget, or General Government deficit, include all these funds, as well as the General Fund. It is important to note that the City's current financial challenges are in the General Government services and operations. In contrast, City utilities and other enterprise operations outside the General Government are generally healthy (with the exception of Everett Transit): these include water, sewer and drainage, solid waste, the Everpark Garage, and operation of the two City golf courses. These non - General Government programs are self-supporting, primarily or exclusively through fees for service and do not rely upon general City taxes for support. Everett Transit is struggling, but it is not subsidized by the General Fund; its primary revenue sources are a 0.6% sales tax, federal grants, and fares. These utility and enterprise are not the focus of our mission. The City's 2020 General Government budget, as originally approved in November 2019, was $140.7 million. The Mayor's proposed 2021 budget calls for General Government spending of $136 million. ® General Government Revenues Figure 2 identifies the major sources of revenue supporting General Government operations. Figure 2 Proposed 2C121 General Government Revenue f °recast Total: $132.2 Million Property ., ax _s aiez yx. BgtO Tax. Li -Litt/ T a<s Other Taxes State Revenues ]rater f un d Serviicet barges •5.5 F errs �- UcenSe_1, Franchise Fee I $$4.0 Cliaraec for Goods Sertioces I $13.6 .:I l Other Revenues Source: City Finance Dept. .3 r i• 513.3 s:1s.6 •11 . . $ 39.0 PropertyTaxc accounts for 29.2% of total General Government Revenue j4, 55D.G 4