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THE CITY OF SOUTH BEND
<br />2003 BUDGET - SUMMARY OF MAJOR CHANGES FROM 2002
<br />LOCAL ROADS AND STREETS ACCOUNT (Fund #251)
<br />2001 2002 2002 Anticipated 2003
<br />Actual Actual Budget Changes Budget
<br />REVENUE:
<br />Gasoline Tax (including State Lottery Funds) 1,249,470 (75,623) a 1,173,847
<br />Reimbursements 0 0 0
<br />Interest on Investments 75,000 (40,000) b 35,000
<br />Total Revenue 1,324,470 (115,623) 1,208,847
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<br />Total Revenue Increase/(Decrease) (115,623)
<br />Revenue Increase/(Decrease) as a Percent -g.7%
<br /> 2001 2002 2002 Anticipated 2003
<br /> Actual Actual Bud~pet Changes Budget
<br />CAPITAL EXPENDITURES (see note c & d):
<br />Street Paving Materials & Repairs 1,074,51!t 1,276,808 990,000 (990,000) 0
<br />Concrete Street Paving 47,94~r 498,556 300,000 0 300,000
<br />Specific Street Improvements 2,908,38 1,008,546 784,000 (117,000) 667,
<br />Engineering Fees 9,17d~ 32,000 0 80,000 80,
<br />Traffic Signals and Devices 22,23 19,400 0
<br />~ 250,000 250,
<br />Total Capital Expenditures 4,062,246- 2,835,310 ~`~ (777,000) 1297
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<br />Revenue Over/(Under) Expenditures (1,865,950) (1,257,984) (749,530) (88,153)
<br />NOTES:
<br />a -Per the State Auditor's estimate guidelines.
<br />b -More accurately reflects the projected interest income as a result of the lower cash balances available for investment and decline in interest ra
<br />c -The 2001 actual and 2002 projected expenditures reflect only cash expended during the year and do not include amounts unspent but
<br />encumbered as of the end of the year.
<br />d -The revenue collected in this fund is appropriated during the Capital Budget process which is presented to the Common
<br />Council for approval every February (after the operating budget for the current year has been approved). The Capital Budget
<br />is determined by the fund's cash balance at the start of the year plus the projected LRSA Fund revenue (gasoline taxes) to be
<br />received during the coming year.
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