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El Dorado presenter details mill-levy funds and where property tax dollars go
Summary
The presenter broke down El Dorado’s all-funds budget and said five mill-levy funds—general, debt service, library, airport and industrial mill-levy—account for about $20.4 million of scheduled fund activity and receive roughly $7.1 million in property taxes.
The presenter gave a line-by-line description of the city’s mill-levy supported funds and their budgets. "As we can see here, the city's total budget is approximately $35,300,000," the presenter said, and listed the general fund at about $16,500,000, the debt service fund at roughly $2,000,000, the library fund at $700,000 and the airport fund at $600,000.
The presenter estimated the mill-levy-supported funds collect about $7,100,000 in property taxes and noted that many funds rely on property taxes for 30–40% of operations. He described the industrial mill-levy fund as a primary city contribution to El Dorado, Inc. for economic development.
