City of Concord Budget
Explaining the Adopted 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 $80 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 in Figure 1 below shows how General Fund monies are proposed to be spent from July 1, 2008 to June 30, 2009. This is the City’s fiscal year.
General Fund Revenue
Revenue for the Concord’s General Fund comes from many sources. The pie chart in Figure 2 below shows revenue from the projected year ending June 30, 2009.
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 three quarters of a penny of the eight and one quarter cent sales tax paid on purchases made in Concord. The state receives five and one quarter cents. The remainder is divided among Contra Costa County, BART, Prop. 172 and the Contra Costa Transit Authority. Sales tax accounts for 38 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 2008-09 is $184,522,893.
Figure 1: General Fund Expenditures
Figure 2: General Fund Revenue
