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THE CITY OF SOUTH BEND <br />2003 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2002 <br />REDEVELOPMENT COMMISSION -FOOTBALL HALL OF FAME BOND (Fund #313) <br />REVENUE: <br />General Property Tax <br />Auto Excise <br />Commercial Vehicle Excise Tax <br />Total Revenue <br />tool 2002 2002 <br />Actual Actual Budget <br />1,299,891 <br />90,544 <br />6,334 <br />1,396,769 <br />Anticipated 2003 <br />Changes Budget <br />1,949 a 1,301,840 <br />(2,474) 88,070 <br />354 6,688 <br />~~ 1,396,598 <br />EXPENDITURES: <br />Debt Service: <br />Semi-annual Lease Payment <br />Paying Agent Fees <br />Total Expenditures <br />2001 2002 2002 <br />Actual Actual Budget <br />704,000 1,406,500 1,406,500 <br />2,300 0 2,400 <br />706,300 1,406,500 1,408,900 <br />Revenue Over/ (Under) Expenditures 713,689 (44,141) (12,131) <br />NOTES: <br />a -Represents the State Tax Board's final budget estimate received in January 2003. <br />b -Represents the change in debt service scheduled for payment in 2003. <br />PROJECTION OF CASH BALANCE NEEDED FOR DEBT SERVICE PAYMENTS <br />College Football Hall of Fame Bond Fund cash balance as of 12/31/02 <br />2003 Budget excess (above) <br />Projected CFHFB cash balance as of 12/31/03 <br />Debt Service payment due 1/28/04 <br />Projected cash balance after 1/28/04 payment (assuming 100°/a receipt of 2003 tax levy) <br />Anticipated 2003 <br />Changes Budget <br />{fi~D~b 1,~6,;9Q4 <br />(10,802) <br />669,548 <br />(10,802) <br />658,746 <br />(702,500) <br />(43,754) <br />