Finance

7 Jan 2023 The city's budget for 2023 consist of $1,959,404 in the General Fund and $3,002,500 in the Utility Fund.

10 Jan 2023 $638k, 33%, of the 2023 General Fund revenue is from contingency or transfer from Utility Fund. This is not sustainable.

$475k, 24% of the revenue is generated by sales tax. $469k, 24%, of the revenue is generated by ad valorem (property) tax. The remaining 19% of the revenue is generated by miscellanious items.

The potential of the top three revenue providers, 81%, increasing at the same rate as the annual costs are highly unlikely. We are in a financial crisis.