Editorials

Approved by the City Council last Tuesday, the city’s budget is based on funding streams that include property taxes, parking fines and sales tax. 

The largest contributor to the city’s General Fund – which pays for most of the city’s basic services and the personnel that provide them – is property taxes at 22 percent. Over the next two years property taxes are expected to add $45 million to city coffers.  

The next largest contributor is sales tax, which city officials say will probably account for $19 million or 14 percent over the next two years. 

Taxes charged on utilities contribute 13 percent or $27 million.  

Funding streams in the 5-7 percent range include parking fines, which were raised from $22 to $23 to help pay for various programs in the new budget. That should bring in about $14 million. The hotel tax is expected to bring in $6.5 million. 

Enterprise Funds are kept separate from General-Fund taxes. They are generally raised for a single purpose such as the sewer fund which is financed through property taxes.  

The Sewer Fund, according to the municipal code and state law, is supposed to be spent only on programs related to the city’s sewers. Over the next two years the sewer fund will raise $18 million and will pay for the city’s multi-year project of updating the entire system of sewer lines.  

Other Enterprise Funds include the Permit Service Center Fund, Off Street Parking Fund and the Marina Operation Fund.  

In total, through various taxes and fees, the city is expected to bring in $517 million over the next two years.