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<br />development accounting for 22 percent. General government uses (City Manager, Finance, <br />City Council, etc.) account for 15 percent of General Fund expenditures. <br /> <br />Economic development and the vitality of the economy can directly affect revenues to the <br />City's General Fund. For Pleasanton, several key sources of revenue in the City General <br />Fund come from traditional local taxes. For example, sales and use tax revenues from local <br />retail and industrial businesses account for 24 percent of the City's General Fund revenues. <br />Transient Occupancy Tax (TOT). another source tied to economic prosperity. contributes 3.7 <br />percent to the General Fund. Quality of life, as reflected in stable or rising residential <br />property values and sales volumes, also supports the General Fund: for Pleasanton. this is <br />the single largest revenue source, making up almost half of the City's General Fund revenue. <br /> <br />The City's 2006-07/2007-08 two-year operating and capital budgets were approved recently <br />by the City Council. These budgets maintain core service levels; address all program and <br />project initiatives prioritized by the City Council: and implement measures to promote long- <br />term fiscal stability. Careful planning and a diversified local economy have allowed the City <br />to maintain a balanced budget without reductions in service or increases in fees or taxes. <br /> <br />P/easanton Economic Development Background Report <br />RNAL - January 2006 <br /> <br />27 <br />