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THE CITY OF SOUTH BEND
<br />2003 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2002
<br />CUMULATIVE CAPITAL DEVELOPMENT FUND (Fund #406)
<br />REVENUE:
<br />General Property Taxes
<br />Auto Excise Taxes
<br />Commercial Vehicle Excise Tax
<br />Financial Institutions Tax
<br />Interest on Investments
<br />Total Revenue
<br />tool 2ooz
<br />Actual Actual
<br />947,666 946,166
<br />69,927 69,108
<br />13,220 13,452
<br />2,415 2,497
<br />24,542 16,436
<br />1,057,770 1,047,659
<br />2003 Anticipated 2003
<br />Budget Changes Budget
<br />974,431
<br />61,027
<br />14,576
<br />2,340
<br />20,000
<br />7.072,374
<br />Total Revenue Increase/(Decrease)
<br />Revenue Increase/(Decrease) as a Percent
<br />2001 2002
<br />Actual Actual
<br />EXPENDITURES:
<br />Expenditures approved as a part of the Operating Budget:
<br />Payments Due on Outstanding Leases:
<br />Various master leases - 1992-1996 147,836
<br />Computer Maintenance 0
<br />Expenditures approved as a part of the Capital Budget (see Holt;
<br />Street Division Moto Vehicles & Egtdpntent x,471
<br />Park pePartrnent Equipment for Downtovm maintenance 3ia14
<br />Computer Equipment & Networking 0 2D6,Zt~
<br />Takal txpenditures
<br />Revenue Over/(Under) Expenditures
<br />156.020 442,900
<br />0 a
<br />1,672 b
<br />(1,088) a
<br />45
<br />(7,000)
<br />(6,371)
<br />974,431
<br />62,699
<br />13,488
<br />2,385
<br />13,000
<br />1.066.003
<br />(6,371)
<br />-0.6%
<br />2002 Anticipated 2003
<br />Budget Changes Budget
<br />0 0 0
<br />0 175,270 c 175,270
<br />627,630 (334,799) 292,831
<br />0 0 0
<br />235,150 368,798 603,948
<br />862.780 209.269 1.072.049
<br />209.594 (6,046)
<br />NOTES:
<br />a -The tax rate will remain the same at $0.5 per $100 Net Assessed Valuation (NAV). The NAV has been reduced as a result of the
<br />Commercial Vehicle Excise Tax assessment.
<br />b -Represents the State Tax Board's estimate.
<br />c -Computer maintenance/consulting expenses that the Controllers department covered have been moved to this fund to match the capital expense
<br />$100,270 for computer maintenance and $75,000 for web design/consulting.
<br />d -The 2001 & 2002 actual expenditures reflect only cash expended during the year and do not include amounts unspent but encumbered
<br />as of the end of the year.
<br />PROJECTION OF CAPITAL FUNDS AVAILABLE FOR 2003 AND BEYOND
<br />CCDF Fund cash balance as of 12/31/02 1,510,130
<br />Less: Encumbrances outstanding as of 12/31/02 (249,613)
<br />CCDF Fund cash balance as of 12/31/02 -Available for 2003 Capital Projects 1,260,517
<br />2003 Budgeted Revenue (see above) 1,066,003
<br />2003 Budgeted Expenditures (see above) (1,072,049)
<br />Projected CCDF Fund cash balance as of 12/31/03 - Available for capital appropriations in 2004 1,254,471
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