Revenue Sources

Total Revenue for General Fund -$51,642,713

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General Fund – The general fund is the primary source of revenue for the city and funds Municipal Council, Mayor’s Office, Administrative Services (Human Resources, Information Systems, Finance, Recorder), Community Development, Economic Development, General Services, Fire, Police, Parks and Recreation, Engineering, and Streets.

Sales Tax – The sales tax constitutes the largest source of revenue for the city and is budgeted to be $15.8 million or 30% of the cities revenue.

Property Tax – Provo has 3 property tax levies which are budgeted to be $4.6 million in FY 2014:

1) General operation levy funds public safety, parks and recreation and other General Fund operations.

2) The library levy pays for the Provo city library.

3) The debt service levy pays for the principle on general obligation bonds.

Other Taxes – This tax includes the lodging tax and B & C road tax and is budgeted to be $3.2 million for FY 2014.

Transfers In – These funds are received from utility sales and excess revenue from the Justice Court making  $10.1 million in revenue.

Franchise Fees – Are received from utilities and create $9.2 million in revenue.

Other Fees – This creates $5.6 million in revenue. Examples of some of these fees include building permits, inspection fees, sports participation fees, ambulance fees, etc.

Other Revenue – Other revenue creates $3.2 million in revenue. This includes revenue from grants, intergovernmental revenue, land sales, interest, and misc. revenue.