Revenues and Expenditures
Revenues
Revenue estimates for the current year are projected by examining trends developed over the past five years. Graphics are also utilized during the study of revenue to reveal significant trends which may not otherwise be clearly evident. All revenue sources are projected by the Finance Department and carefully scrutinized by the six-member Budget Review Committee.
The pie chart below summarizes total revenue by source excluding transfers. Major revenues included in the local tax category are:
- property taxes
- utility taxes
- local 1.25% sales tax
State taxes primarily include:
- income tax
- 1% sales tax
- motor fuel tax
The pie chart below summarizes total revenue by source excluding transfers. Major revenues included in the local tax category are property taxes, utility taxes, food & beverage and the 1% local sales tax. State taxes primarily include income tax, 1% sales tax and the motor fuel tax. Total revenue without transfers for FY 2007-08 is projected to increase 5.08% from the FY 2006-07 estimate.
The total revenue increased $3,546,825, or 5.3%, when bond proceeds are removed.
FY 2007/2008 Revenue by Source
All Funds - Total $83,214,602
General Governmental Revenue By Source
Last Ten Fiscal Years
Includes General, Special Revenue, Debt Service, Normal Public Library and Capital Project Funds
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Taxes | 11,253,705 | 11,860,705 | 12,964,190 | 12,527,265 | 13,289,513 | 14,976,571 | 18,016,507 | 18,954,777 | 19,755,448 | 20,466,079 |
| Licenses and permits | 419,662 | 461,584 | 495,403 | 454,839 | 838,937 | 836,800 | 1,068,794 | 901,367 | 829,843 | 800,385 |
| Intergovernmental | 10,210,137 | 10,446,710 | 12,174,431 | 11,718,352 | 11,949,852 | 11,385,240 | 11,339,005 | 12,341,921 | 13,646,454 | 15,295,043 |
| Charges for services | 2,659,067 | 2,990,389 | 3,024,156 | 3,091,522 | 3,434,542 | 2,917,419 | 3,478,770 | 3,756,952 | 4,416,349 | 5,550,228 |
| Fines and fees | 849,600 | 865,320 | 971,478 | 942,016 | 1,427,453 | 1,211,152 | 1,327,338 | 1,256,649 | 1,275,194 | 1,344,798 |
| Employee contributions | 832,436 | 891,632 | 1,011,004 | 1,054,741 | - | - | - | - | - | - |
| Investment income | 558,802 | 785,275 | 634,290 | 1,127,195 | 551,790 | 394,259 | 214,548 | 400,024 | 1,137,557 | 2,095,821 |
| Miscellaneous | 423,105 | 668,325 | 1,429,117 | 1,273,789 | 736,651 | 1,250,062 | 1,562,901 | 1,615,137 | 2,102,205 | 2,043,021 |
| Total revenues | 27,206,514 | 28,969,940 | 32,704,069 | 32,189,719 | 32,228,738 | 32,971,503 | 37,007,863 | 39,226,827 | 43,163,050 | 47,595,375 |
Expenditures
Total expenditures for all funds in ’07-08, without transfers, are projected to increase 55.4% from the FY 2006-07 estimated expenditures. As indicated in the pie chart below, 44.01% of all Town expenditures will be designated for capital investment and expansion.
Water and Sewer include the cost of providing water and transportation of waste to the Bloomington-Normal Water Reclamation District.
General government would include all Town services not presented elsewhere on the pie chart. Examples within the General fund would be the departments of Administration, Clerk, Corporation Counsel, Inspections and Information Technology. The General Government category also includes the Health Insurance and Bond Funds, which are not part of the General Fund.
FY 2007/2008 Expenditure by Program
All Funds - $114,468,426
General Governmental Expenditures by Function
Last Ten Fiscal Years
Includes General, Special Revenue, Debt Service, Normal Public Library and Capital Project Funds. Beginning in 2004, Capital Outlay expenses are classified by specific function and no longer reported as a separate function.
| 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Current operating: | ||||||||||
| General government | 4,532,528 | 4,751,256 | 5,861,260 | 5,800,872 | 4,224,382 | 5,238,575 | 5,643,166 | 5,683,792 | 6,014,517 | 6,263,106 |
| Public safety | 6,325,894 | 6,696,238 | 7,804,808 | 9,563,171 | 10,598,405 | 11,532,577 | 12,616,889 | 14,309,179 | 15,940,943 | 16,213,528 |
| Highways and streets | 1,723,830 | 1,884,614 | 1,964,360 | 2,292,413 | 2,522,996 | 2,726,438 | 6,804,548 | 5,392,430 | 5,885,577 | 5,175,500 |
| Sanitation | 473,121 | 552,957 | 649,755 | 737,648 | 876,852 | 1,019,521 | 1,211,886 | 1,284,943 | 1,237,260 | 2,328,267 |
| Culture and recreation | 3,860,643 | 4,335,519 | 4,583,830 | 3,665,811 | 3,945,846 | 4,034,923 | 6,926,478 | 5,475,999 | 6,967,796 | 7,416,381 |
| Community development | 1,223,706 | 1,349,885 | 1,543,548 | 1,537,843 | 1,527,646 | 1,981,585 | 5,126,679 | 14,582,209 | 11,495,195 | 9,131,672 |
| Capital outlay | 5,069,763 | 3,045,169 | 7,761,611 | 7,992,310 | 7,132,167 | 8,572,669 | - | - | - | - |
| Debt service: | ||||||||||
| Principal | 1,123,904 | 1,211,415 | 1,277,912 | 102,696 | 110,405 | 120,385 | 130,669 | 141,833 | 153,950 | 107,035 |
| Interest and fiscal charges | 277,914 | 198,574 | 132,417 | 69,227 | 59,509 | 50,529 | 203,264 | 469,556 | 1,597,724 | 2,335,297 |
| Total expenditures | 24,611,303 | 24,025,627 | 31,579,501 | 31,761,991 | 30,998,208 | 35,277,202 | 38,663,579 | 47,339,941 | 49,292,962 | 48,970,786 |