Adopted 2017 Annual Operating & Capital Improvement Budget

REVENUE ASSESSMENT
Overview
In an effort to simplify financial reporting, the City of Greenwood Village has organized its revenues into seven
categories: Taxes & Special Assessments, Intergovernmental, Licenses & Permits, Charges & Fees, Fines &
Forfeitures, Investment Earnings, and Miscellaneous Revenue. The following table and chart illustrate the City’s total
revenue (all funds, not including other sources or uses of fund balance):
2015
Audited
Actuals
2016
Amended
Budget
2017
Adopted
Budget
% Change
Revenue:
Taxes & Assessments $ 36,292,697 $ 39,230,254 $ 39,781,000 1.40%
Intergovernmental 3,180,776 4,905,283 2,312,221 -52.86%
Licenses & Permits 1,354,946 1,383,677 1,755,000 26.84%
Charges & Fees 2,669,190 2,836,963 3,039,000 7.12%
Fines & Forfeitures 1,116,244 1,011,044 1,087,000 7.51%
Investment Earnings 33,437 44,859 300,000 568.76%
Miscellaneous Revenue 73,167 10,000 8,000 -20.00%
Total Revenue $ 44,720,457 $ 49,422,080 $ 48,282,221 -2.31%
Total Revenue by Category
Intergovernmental
5%
Taxes &
Assessments
82%
Licenses & Permits
4%
Charges & Fees
6%
Fines & Forfeitures
2%
Miscellaneous
Revenue
0%
Investment Earnings
1%
As illustrated in the above table, the City is expected to generate revenues of $48.3 million. The amount represents a
decrease in revenues of $1.1 million or 2.3% when compared to the prior year’s amended budget. It should be noted
that the City anticipates the collection of roughly $3.3 million via grant awards and intergovernmental agreements in
2016. While the City will continue to pursue external agency funding, such opportunities and amounts are largely
unknown during production of the annual budget, and have therefore been omitted from the 2017 forecasts. Omitting
the grant award and intergovernmental agreement revenue sources from the comparison, results in an anticipated
revenue increase of $1.5 million or 3.3%. The relatively modest rate of growth is a combined result of the conservative
forecasting methods used by the organization, as well as, a recent flattening of current year-to-date collections.
Additional detail pertaining to the trends and forecasting methods of the City’s significant funding sources, including the
related impacts of the current and anticipated economic environment are presented in the following sections.
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