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Why Compare with 2005 Budget?

Since 2005 the City Budget has dramatically increased anticipating rapid population growth. But there has been only 8% population growth with few new building permits. This means existing homeowners are shouldering more and more burden in property tax (assessments have increased substantially) and fees, as can be seen here.

Data Source Iowa Department of Management February 2015



























Mount Vernon, Iowa

Population Growth 8.3% since 2005 4171 4510
Households/2.5 1668.4 1804

Actual FY
2005		 Budget FY
2015
Revenues & Other Financing Sources
Property Taxes 876,918 1,595,129   Up 82% since 2005
TIF Revenues 613,934 666,317
Other City Taxes 518,229 80,064
Licenses & Permits 72,072 70,000
Use of Money and Property 46,794 18,800
Intergovernmental 333,602 455,000
Charges for Fees & Service 1,133,627 2,085,000   Up 84% since 2005
Special Assessments 0 0
Miscellaneous 123,762 195,461
Other Financing Sources 1,843,773 4,275,518   Up 132% since 2005
TOTAL REVENUE 5,562,711 9,441,289



Expenditures & Other Financing Uses

Public Safety 518,300 946,601   Up 83% since 2005
Public Works 363,862 502,873
Health and Social Services (Sustainability) 0 0 Click to see comment
Culture and Recreation 310,357 489,283
Community and Economic Development 21,715 138,900
General Government 265,671 566,069   Up 113% since 2005
Debt Service 518,900 1,129,281   Up 118% since 2005
Capital Projects 316,288 2,475,797
Total Government Activities Expenditures 2,315,093 6,248,804   Up 170% since 2005
Business Type / Enterprises 1,092,992 1,635,716
Total ALL Expenditures 3,408,085 7,884,520   Up 131% since 2005



Transfers Out 1,843,773 1,775,518
Total ALL Expenditures/Transfers Out 5,251,858 9,660,038



Surplus/Deficit 310,853 -218,749   Deficit Spending



Beginning Fund Balance July 1 3,020,210 3,217,289
Ending Fund Balance 3,331,063 2,998,540   down 10% since 2005