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<br />FINANCIAL HIGHLIGHTS - CONT'D. <br /> <br />INTERGOVERNMENTAL REVENUE <br /> <br />Federal Revenue Sharing funds have been primarily used for <br />capital outlay acquisitions since the program began in 1972. Total <br />Revenue Sharing expenditures since 1972 totaled $ 2,900,000. Of this <br />amount, $2,430,000 was spent for capital outlay. <br /> <br />In add i tion, Communi ty Development Block Grant funds have <br />been used for capital projects in approved target areas. Since the <br />project's inception in 1975, Community Development expenditures have <br />totaled $11,400,000, the major portion being capital outlay. <br /> <br />SALES TAX <br /> <br />Sales tax receipts increased to a record level of $804,033 at <br />September 30, 1980. This represents a 26.9% increase over the pre- <br />vious year. The City's continuing economic growth is exhibited by <br />the sales tax volume for the past ten years (see graph below). <br /> <br />General Sales Tax (thousands) <br /> <br />1971 <br />1972 <br />1973 <br />1974 <br />1975 <br />1976 <br />1977 <br />1978 <br />1979 <br />1980 <br /> <br />204 <br />238 <br />288 <br />315 <br />353 <br />423 <br />474 <br />545 <br />633 <br />804 <br /> <br /> <br />INTEREST EARNED <br /> <br />Interest earned on investments totaled almost $158,000 <br />compared to $63,000 in the previous year or an increase of $95,000. <br /> <br />- 4 - <br /> <br />Harold V. Simpson & Ccmpany, Certified Public Accountants, Austin, Texas <br />