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THE CITY OF SOUTH BEND
<br />2003 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2002
<br />SEWER REPAIR /INSURANCE FUND (Fund #640)
<br /> Zoos ~c+pal.a
<br /> ~~ Ch81yN
<br />REVENUE:
<br />Sewer Repair Insurance 389,720 174,378 a
<br />Sewer Repair Deductible 100,000 12,500 b
<br />Interest on Investments 11,000. (5,000) b
<br />Other Revenue (Loan Repayment) 0 0
<br />Total Revenue 484.720 181,878
<br />Total Revenue Increase/(Decrease)
<br />Revenue Increase/(Decrease) as a Percent
<br />EXPENDITURES:
<br />Personnel Costs:
<br />Salaries
<br />Benefits
<br />Total Personnel Costs
<br />Supplies
<br />Services:
<br />Sewer Repairs
<br />Management Fee -Solid Waste
<br />Telephone
<br />Automotive Equipment Repair
<br />Misc Employee-related Costs
<br />Total Services
<br />Other Uses:
<br />Admin Charge (General Fund)
<br />Bad Debt Expense
<br />Total Other Uses
<br />Total Expenditures
<br />Total Expenditures Increase/(Decrease)
<br />Expenditures Increase/(Decrease) as a Percent
<br />Revenue Over / (Under) Expenditures
<br />2003
<br />544.098
<br />.112,500
<br />8.000
<br />0
<br />882.598
<br />181,878
<br />37.896
<br />2001 2002 2002 $aNry CMIIN[- 2003 % of
<br />Actual Actual 811Mgk Ordinanw + Bud~t Change
<br />35,655 37,069 37,900 1,485 b 39,385
<br />9,455 10,401 10,759 182 340 c 11,281
<br />45,110 47,470 48,859 1,647 50,848 4.1%
<br />1,799 1,460 2,800 0 (1,260)1 1,550
<br />594~EQ4 OKK2.781 524,000 0 67:000 d 587.000
<br />5,100 5,000 5.000 0 C0•~9 0
<br />1;86x1 1,904 1,800 0 340. 1,900
<br />562 1.146 500 0 (300) 200
<br />
<br />' 84 210 0
<br />' 110
<br />801 ,915 527,310 ~ 81,900 589,210
<br />i
<br />.
<br />8,i
<br />,11,624
<br />11,824
<br />0
<br />'2,202
<br />13,826
<br />4 4.386 5,000 .0 0
<br />~ 5,000
<br />13 116,010 18,824 4 ` ~,~ 18,826
<br />
<br />662,632 625,855 595,393 1,847 1 660.232
<br />
<br />64,839
<br />10.9%
<br />(181,152) (40,706) 2,366
<br />NOTES:
<br />a -Increase of sewer insurance rates from $.79 per month to $1.18 per month with 38,425 customers.
<br />b -Adjustment made to reflect actual, based on forecasts number of sewer repairs.
<br />c -Includes an average cost increase of 13% for the City's Self-Insurance Health Plan plus any necessary changes from last year's budget regarding
<br />coverage options chosen by employees (i.e., family, single or rebate). Also includes a increase of the City's mandated contributions
<br />to the State's PERF Plan which was 3.00% of total salary in 2002 to 3.25% in 2003. This rate is determined by the Indiana Board of
<br />Trustees of PERF on an annual basis.
<br />d -Reflects the anticipated level of expenditure in 2003. The number and average cost of sewer repairs have increased significantly in 2002.
<br />Over the past three years the number of repairs and average cost of the repair are as follows: 1999 (170 repairs at $1,841), 2000 (209 repairs at $2,444),
<br />and 2001 (224 repairs at $2,846). 2002 projection 230 repairs at $2,700.
<br />CASH BALANCE PROJECTION (necessary to cover deficit budget)
<br />Sewer Repair Insurance Fund cash balance as of 12/31/02 104,968
<br />Less: Encumbrances outstanding as of 12/31/02 (19,360)
<br />Sewer Repair Insurance Fund cash balance excluding encumbrances 85,608
<br />2003 budget deficit (above) 2,366
<br />Projected Sewer Repair Insurance Fund cash balance as of 12/31/03 87,974
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