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THE CITY OF SOUTH BEND <br />2003 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2002 <br />CUMULATIVE CAPITAL IMPROVEMENT FUND (Fund #407) <br />2001 2002 <br />Actual Actual <br />REVENUE: <br />Cigarette Tax Distribution <br />Hotel/Motel Tax Lease Payment <br />South Bend Comm School Corp Lease <br />Total Revenue <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 />Century Center Bond Payments 594,000 594,000 <br />Expenditures approved as a part of the Capital Budget (see note b): <br />Good Neighbors/GN -curb & sidewalks 134,504 28,000 <br />Total Expenditures 728,504 622,000 <br />Revenue Over/(Under) Expenditures 150 891 76,388 <br />2003 <br />Budget <br />426,801 <br />150,000 <br />50,000 <br />626.801 <br />(17,290) <br />-2.7% <br />2002 Anticipated 2003 <br />Budget Changes Budget <br />594,000 (3,730) 590,270 <br />28,000 77,000 105,000 <br />622,000 73,270 695,270 <br /> <br />22,091 6( 8,469) <br />NOTES: <br />a -Reflects State Auditor's guidelines of $3.96 per capita ($3.96 times 107,789). <br />b -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 />CCIF Fund cash balance as of 12/31/02 402,376 <br />Less: Encumbrances outstanding as of 12/31/02 (297,000) <br />CCDF Fund cash balance as of 12/31/02 -Available for 2003 Capital Projects 105,376 <br />2003 Budgeted Revenue (see above) 626,801 <br />2003 Budgeted Expenditures (see above) (695,270) <br />Projected CCDF Fund cash balance as of 12/31/03 - Available for capital appropriations in 2004 36,907 <br />