|
THE CITY OF SOUTH BEND
<br />2004 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2003
<br />CUMULATIVE CAPITAL DEVELOPMENT FUND (Fund #406)
<br /> 2002 2003 2003 Anticipated 2004
<br /> Actual Actual Budget Changes Budget
<br />REVENUE:
<br />General Property Taxes 946,166 1,022,511 974,431 29,233 a 1,003,664
<br />Auto Excise Taxes 69,108 66,021 62,699
<br />(6,270) b
<br />56,429
<br />Commercial Vehicle Excise Tax 13,452 13,676 13,488 674 a 14,162
<br />Financial Institutions Tax 2,497 3,195 2,385 0 2,385
<br />Reimbursements 0 0 0 85,276 85,276
<br />Interest on Investments 16,436 12,971 13,000 0 13,000
<br />Total Revenue 1,047,659 1,118,374 1,066,003 108.913 _
<br />1.174,916
<br />
<br />Total Revenue Increase/(Decrease) 108,913
<br />Revenue Increase/(Decrease) as a Percent 10.2o~a
<br /> 2002 2003 2003 Anticipated 2004
<br /> Actual Actual Budget Changes Budget
<br />EXPENDITURES:
<br />Expenditures approved as a part of the Operating Budget:
<br />Payments Due on Outstanding Leases:
<br />Various master leases - 2003 0 2,091 0 93,262 93,262
<br />Computer Maintenance 0 108,918 175,270 0 175,270
<br />Expenditures approved as a part of the Capital Budget (see note c):
<br />Street Division Motor Vehicles & Equipment 399,471 317,605 292,831 107,469 400,300
<br />Computer Equipment & Networking 205,288 454,502 603,948 429,132 1,033,080
<br />Total Expenditures 604,759 883,118 1,072,049 829,863 ,1,701,912
<br />Revenue Over/(Under) Expenditures
<br />442,900 235.258 (6,046)
<br />(526.996)
<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 -The 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. The 2003 expenditures assumes no encumbrances are needed at year-end and all of the
<br />2002 encumbrances are paid in 2003.
<br />PROJECTION OF CAPITAL FUNDS AVAILABLE FOR 2004 AND BEYOND
<br />CCDF Fund cash balance as of 12/31/03 1,745,388
<br />Less: Encumbrances outstanding as of 12/31/03 (259,803)
<br />CCDF Fund cash balance as of 12/31/03 -Available for 2004 Capital Projects 1,485,585
<br />2004 Budgeted Revenue (see above) 1,174,916
<br />2002 Budgeted Expenditures (see above) (1,701,912)
<br />Projected CCDF Fund cash balance as of 12/31/04 - Available for capital appropriations in 2005 958,589
<br />
|