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likely to be derived and the evaluation of costs and benefits requires estimates and judgments by
<br />management.
<br />Total revenues for the General, Special Revenue, Debt Service and Capital Projects Funds were
<br />$74,597,257, an increase of $2,536,932 from FY 1993. Revenues for FY 1994 and the change from the
<br />previous FY are as follows:
<br />Increase
<br />A slight increase in the millage rates for the 1994 FY and an increase in taxable value of
<br />$326,000,000 accounted for an increase in ad valorem taxes. The continuing recovery of the economy
<br />has led to an increase in local option taxes. Intergovernmental revenues have also been influenced by
<br />the economic recovery., contributing to increases in State shared revenues. In addition, the County
<br />received State grants for improvements to Round Island Park, a county owned park located on a barrier
<br />island. Increases in charges for services are also attributable to increases in economic activity. The
<br />decrease in special assessments is due to a change in the nature of the assessments being levied. More
<br />of the assessments are being used in the County's enterprise funds while fewer are being used for general
<br />governmental funds. The decline in interest earnings has been caused by 2 factors: (1) a general decline
<br />in interest rates and, (2) less funds available for investment as the County has continued to live off its
<br />savings from the 1980's. Contributions for road improvements and a more successful effort in sales of
<br />the County's surplus furniture and equipment resulted in an increase in miscellaneous revenues.
<br />3247/IND38=-9/POS-BODY-1 20
<br />FY 1994
<br />Percent
<br />(Decrease)
<br />Revenues
<br />Amounts
<br />of Total
<br />from FY 1993
<br />Taxes
<br />$50,045,611
<br />67.1%
<br />$1,930,408
<br />Licenses and permits
<br />295,945
<br />0.4
<br />8,435
<br />Intergovernmental
<br />10,632,401
<br />14.3
<br />679,369
<br />Charges for services
<br />6,151,859
<br />8.2
<br />739,330
<br />Fines and forfeitures
<br />962,250
<br />1.3
<br />111,828
<br />Special Assessments
<br />2,799,569
<br />3.8
<br />(341,439)
<br />Interest
<br />2,195,080
<br />2.9
<br />(1,293,512)
<br />Miscellaneous
<br />1,514,542
<br />2.0
<br />702,513
<br />Total Revenues
<br />$74,597,257
<br />100.0%
<br />$2,536,932
<br />A slight increase in the millage rates for the 1994 FY and an increase in taxable value of
<br />$326,000,000 accounted for an increase in ad valorem taxes. The continuing recovery of the economy
<br />has led to an increase in local option taxes. Intergovernmental revenues have also been influenced by
<br />the economic recovery., contributing to increases in State shared revenues. In addition, the County
<br />received State grants for improvements to Round Island Park, a county owned park located on a barrier
<br />island. Increases in charges for services are also attributable to increases in economic activity. The
<br />decrease in special assessments is due to a change in the nature of the assessments being levied. More
<br />of the assessments are being used in the County's enterprise funds while fewer are being used for general
<br />governmental funds. The decline in interest earnings has been caused by 2 factors: (1) a general decline
<br />in interest rates and, (2) less funds available for investment as the County has continued to live off its
<br />savings from the 1980's. Contributions for road improvements and a more successful effort in sales of
<br />the County's surplus furniture and equipment resulted in an increase in miscellaneous revenues.
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