The Main Sources Of Revenue For North Charleston Essay

1133 Words Nov 18th, 2015 null Page
The main sources of revenue for North Charleston for the governmental-type activates are charge for services for the general government, public safety, sanitation, and culture and recreation. The other main source for governmental-type activities is operating grants and contributions for public safety, culture and recreation, community development and promotion, and interest on long-term debt. Also, another revenue source for governmental-type activities are capital grants and contributions for the general government, public safety, and community development and promotion. The main sources of revenue for North Charleston for the business-type activities are charges for services for the golf course enterprise fund, and the stormwater utility enterprise fund. The general revenues for the city are property taxes, business license taxes, sales taxes, franchise taxes, hospitality taxes, and accommodation taxes. Revenues from property taxes are recorded as a single amount. The financial statements only show what governmental funds collected the property taxes but does not tell what kind of property taxes that they collected like residential, commercial, vehicle. Property taxes collected by the general fund were $40,627,811 and tax infrastructure collected $8,282,036 and the nonmajor governmental funds collected $3,500,000. The city function that had the greatest amount of directly identifiable revenue is collecting property taxes. The CAFR for North Charleston discusses the…

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