CITY OF OLEAN, NEW YORK

GENERAL FUND BUDGET

FOR THE 2007-2008 AND 2008-2009 BUDGET YEARS

Increase /

2007-2008

2008-2009

(Decrease)

REVENUES:

Real property taxes

$ 5,727,882

$ 6,390,786

$ 662,904

Special assessment tax - real property

6,750

5,500

(1,250)

Real property tax items

170,000

192,265

22,265

Non-property tax items

4,016,000

4,150,000

134,000

Departmental income

1,093,600

1,131,500

37,900

Intergovernmental charges

189,358

164,103

(25,255)

Use of money and property

61,000

85,000

24,000

Licenses and permits

48,750

53,750

5,000

Fines and forfeitures

100,000

110,000

10,000

Sales of property and compensation for loss

6,500

2,500

(4,000)

State aid

2,514,993

2,614,930

99,937

Interfund Transfers

-

-

-

TOTAL REVENUES

13,934,833

14,900,334

965,501

EXPENDITURES:

General government support

2,408,955

2,689,192

280,237

Public safety

5,011,139

5,199,111

187,972

Health

102,380

79,840

(22,540)

Transportation

1,224,984

1,511,265

286,281

Economic development

15,000

15,000

-

Culture and recreation

948,766

1,068,558

119,792

Home and community services

97,819

137,970

40,151

Employee benefits

3,269,975

3,252,367

(17,608)

Debt service:

Principal

23,050

23,282

232

Interest

153,309

282,797

129,488

TOTAL EXPENDITURES

13,255,377

14,259,382

1,004,005

EXCESS OF REVENUE OVER EXPENDITURES

679,456

640,952

(38,504)

OTHER FINANCING USES

Operating transfers out

(679,456)

(640,952)

38,504

TOTAL OTHER FINANCING USES

(679,456)

(640,952)

38,504

APPROPRIATED FUND BALANCE

-

-

-