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THE CITY OF SOUTH BEND
<br />2004 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2003
<br />LOCAL ROADS AND STREETS ACCOUNT (Fund #251)
<br /> 2002 2003 2003 Anticipated 2004
<br /> Actual Actual Budget Changes Budget
<br />REVENUE:
<br />Gasoline Tax (including State Lottery Funds) 1,213,106 1,186,193 1,173,847 18,935 1,192,782
<br />Wheel Tax 0 0 0 2,049,626 a 2,049,626
<br />Reimbursements 347,876 11,487 0 0 0
<br />Interest on Investments 16,344 6,648 35,000 (25,000) b 10,000
<br />Total Revenue 1,577,326 1,204,328 1,208,847 2,043,561 3:232.08
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<br />Total Revenue Increase/(Decrease) 2,043,561
<br />Revenue Increase/(Decrease) as a Percent 169.1%
<br /> 2002 2003 2003 Anticipated 2004
<br /> Actual Actual Budget Changes Budget
<br />CAPITAL EXPENDITURES (see note c & d):
<br />Street Paving Materials & Repairs 1,136,446 0 0 2,000,000 2,000,000
<br />Concrete Street Paving 498,556 275,564 300,000 0 300,000
<br />Specific Street Improvements 1,078,215 717,172 667,000 (417,000) 250,000
<br />Engineering Fees 91,923 154,764 80,000 (80,000) 0
<br />Traffic Signals and Devices 30,170 45,450 250,000 900,000 1,150,000
<br />Total Capital Expenditures 2,835,310 1,192,950 1,297,000 2,403,000 3,700,000
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<br />Revenue Over/(Under) Expenditures (1,257,984) 11,378 153 (447,592)
<br />NOTES:
<br />a -Per the County estimate based on vehcile registration information from Bureau of Motor Vehicles..
<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 2002 actual and 2003 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 far 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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