Primary Revenue Sources

This information can be found in each of the past several budget documents for your historical reference.

Taxes


  • Property Taxes - Taxes levied against real property, both residential and commercial within the Village limits. Taxes are levied in the current year and paid in the following year, i.e. 2016 payments are for the 2015 levy.
  • Property Taxes - Police Pension - Taxes levied against real property to pay the employer portion of the police pension as required by state law.
  • Municipal Sales (Occupation) Taxes - Taxes levied against retail sales of tangible personal property and sales of service at the rate of 1%. Non Home Rule Sales taxes, also 1%, are collected in the Capital Projects Fund and may be used only for infrastructure. This is a revenue dedicated to the road program.
  • Utility Occupation Tax - Taxes levied against utility sales at a rate of 5% (except simplified municipal telecommunication tax- 6%). Included are interstate and intrastate telecommunications, and gas. Taxes imposed on the consumption of electricity are based on a rate schedule.
  • Franchise Fee - Cable TV - Fee for use of Village right-of-ways levied at the rate of 5% of gross revenues.
  • Infrastructure Maintenance Fee - Telecommunications - Fee for the use of Village right-of-ways levied at the rate of 1% on all telecommunications retailers doing business within the Village of Riverside. Beginning in 2003, this fee was combined with the 5% telecommunication tax to form a 6% simplified municipal telecommunication tax.
  • E-911 Surcharge - This amount appears on taxpayer's phone bills. A portion of the amount collected is returned to the Village for use in operating the 911 system. This revenue is collected in the E-911 fund.

Licenses & Fees


  • Building/Zoning/Inspection Fees - Fees for various services of the Community Development department.
  • Motor Vehicle Stickers - All vehicles housed or licensed in Riverside must purchase a sticker by June 30th each year.
  • Towing Administrative Fee -Fees individuals pay for the Village's administrative expenses from towing vehicles related to DUI or other arrests for specified offenses.

Intergovernmental & Grants


  • Interdepartmental Services - Public Works, Police, Administrative and overhead charges to the Parking Lot Fund from the General Fund.
  • State per Capita Taxes - These include the local share of Income, Motor Fuel, and State Use taxes based on population. The Motor Fuel tax portion is budgeted in the Motor Fuel Tax fund.
  • Replacement Taxes - Taxes from the State to "replace" prior taxes that were phased out.
  • Grant Revenue - Grants are funds received from other governmental or non-profit sources for which no service is performed, but usually in connection with a specific project or activity - i.e. there are strings attached. This as opposed to a donation with no strings attached.

Charges for Services


  • Ambulance Fees - Fees charged by the Village for ambulance calls.
  • Program Fees - Fees charged to recreation program participants.
  • Licenses and Fees (Parking Lot Fund) - Proceeds from parking permits and parking meter fees.

Fines & Forfeitures


  • Fines and Forfeitures - Charges to citizens for traffic and other violations.

Investment Income


  • Interest Income - Interest and other investment income.

Other Revenue


  • Other Revenue - Miscellaneous revenue items not budgeted elsewhere. Includes such items as rental income, employee reimbursements and other miscellaneous items.

Transfers & Other Financing


  • Operating Transfers In - Transfers from other funds.
  • Employer Contributions (Police Pension Fund) - Taxes levied for the police pension. It is an expense in the General Fund and revenue in the Police Pension Fund.
  • Bond/Lease Proceeds - This is where the funds received from incurring debt appear.