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THE CITY OF SOUTH BEND <br />2004 BUDGET -SUMMARY OF MAJOR CHANGES FROM 2003 <br />CUMULATIVE CAPITAL IMPROVEMENT FUND (Fund #407) <br /> 2002 2003 2003 Anticipated 2004 <br /> Actual Actual Budget Changes Budget <br />REVENUE: <br />Cigarette Tax Distribution 498,388 391,379 426,801 (16,125) a 410,676 <br />Hotel/Motel Tax Lease Payment 150,000 150,000 150,000 0 150,000 <br />South Bend Comm School Corp Lease 50,000 25,000 50,000 0 50,000 <br />Total Revenue 698,388 566,379 626,801 (16,125) 610,676 <br /> <br />Total Revenue Increase/(Decrease) (16,125) <br />Revenue Increase/(Decrease) as aPercent -2.6% <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 />Century Center Bond Payments 594,000 594,000 590,270 (160) <br />Expenditures approved as a part of the Capital Budget (see note b): <br />Good Neighbors/GN -curb & sidewalks 28,000 99,695 105,000 (105,000) 0 <br />Total Expenditures 622,000 693,695 695,270 105160 590,110 <br />Revenue Over/(Under) Expenditures <br />76,388 1( 27,316) 6( 8.469) <br />NOTES: <br />a -Reflects State Auditor's guidelines of $3.81 per capita ($3.81 times 107,789). <br />b -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 />CCIF Fund cash balance as of 12/31/03 275,060 <br />2004 Budgeted Revenue (see above) 610,676 <br />2004 Budgeted Expenditures (see above) (590,110) <br />Projected CCiF Fund cash balance as of 12/31/04 -Available for capital appropriations in 2005 295,626 <br />