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  • » City Government
    • » Budgeting and Finance
      • » City of Concord Budget

City of Concord Budget

 

Explaining the (FY) 2007-2008 Budget

The City of Concord budget has several sections.  The General Fund is the section of the budget that is most often discussed and is generally of most interest to residents.  Concord’s General Fund budget is over $78 million annually.  Funds to pay for police services, parks and recreation, street and road maintenance, and all of the other day to day workings of the City are paid for from the General Fund.

General Fund Expenditures

The pie chart below shows how General Fund monies will be spent from July 1, 2007 to June 30, 2008.  This is the City’s fiscal year.

General Fund Revenue

Revenue for the Concord’s General Fund comes from many sources.  The pie chart below shows revenue from the projected year ending June 30, 2008.

As you can see, the largest portion of revenue comes from sales tax.  The City’s “Buy Concord” campaign was developed to remind residents of the fact that when they purchase items in Concord, part of the sales tax paid on those items comes back to the City to pay for parks, street, roads, public facilities and many of the other amenities they enjoy.

Interesting facts about sales tax and property tax

Concord ultimately receives one penny of the eight and one quarter cent sales tax paid on purchases made in Concord.  The state receives five and three quarter cents.  The remainder is divided between the County, BART and the Contra Costa Transit Authority.  Sales tax accounts for 41 percent of the City's general fund revenue.

In the recession of the early 1990s, the state diverted property tax funds intended for cities in order to balance the budget.  As a result, today for every $100 a property owner pays, the City receives only $9.00.  The balance goes to the State and County.

Total Budget

In addition to the General Fund, the City’s budget also includes Special Revenue Funds, Debt Service Funds, Capital Projects, Enterprise Funds, Internal Service Funds, Fiduciary Funds and the budget for the Redevelopment Agency.

The total City budget for 2007-08 is $178,009,195.

Figure 1: General Fund Expenditures

Figure 2: General Fund Revenue