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THE CITY OF SOUTH BEND
<br />2005 BUDGET - SUMMARY OF MAJOR CHANGES FROM 2004
<br />REDEVELOPMENT COMMISSION - FOOTBALL HALL OF FAME BOND (Fund #313)
<br />Revenue Over (Under) Expenditures (13,184) (541,251) 45,817
<br />NOTES:
<br />a - Represents the State Tax Board's final budget estimate received in January 2005.
<br />PROJECTION OF CASH BALANCE NEEDED FOR DEBT SERVICE PAYMENTS
<br />College Football Hall of Fame Bond Fund cash balance as of 111105 164,216
<br />2005 Budget excess (above) 105,165
<br />Projected CFHFB cash balance as of 12/31/05 269,381
<br />Debt Service payment due 1128/06 (702,250)
<br />Projected cash balance after 1128106 payment (assuming 100% receipt of 2005 tax levy) (432,869)
<br />I V O, mo
<br />2003
<br />2004
<br />2004
<br />Anticipated
<br />2005
<br />Actual
<br />Actual
<br />Budget
<br />Changes
<br />Budget
<br />REVENUE:
<br />General Property Tax
<br />1,301,840
<br />783,550
<br />1,366,932
<br />54,677a
<br />1,421,609
<br />Auto Excise
<br />86,403
<br />83,529
<br />79,263
<br />2,820
<br />82,083
<br />Commercial Vehicle Excise Tax
<br />7,673
<br />5,054
<br />7,022
<br />351
<br />7,373
<br />Total Revenue
<br />1,395,916
<br />872,133
<br />1,453,217
<br />57,848
<br />1,511,065
<br />Revenue Over (Under) Expenditures (13,184) (541,251) 45,817
<br />NOTES:
<br />a - Represents the State Tax Board's final budget estimate received in January 2005.
<br />PROJECTION OF CASH BALANCE NEEDED FOR DEBT SERVICE PAYMENTS
<br />College Football Hall of Fame Bond Fund cash balance as of 111105 164,216
<br />2005 Budget excess (above) 105,165
<br />Projected CFHFB cash balance as of 12/31/05 269,381
<br />Debt Service payment due 1128/06 (702,250)
<br />Projected cash balance after 1128106 payment (assuming 100% receipt of 2005 tax levy) (432,869)
<br />I V O, mo
<br />2003
<br />2004
<br />2004
<br />Anticipated
<br />2005
<br />Actual
<br />Actual
<br />Budget
<br />Changes
<br />Budget
<br />EXPENDITURES:
<br />Debt Service:
<br />Semi - annual Lease Payment
<br />1,405,000
<br />1,405,000
<br />1,405,000
<br />(1,500)
<br />1,403,500
<br />Paying Agent Fees
<br />4,_100
<br />8,384
<br />2,400
<br />0
<br />2,400
<br />Total Expenditures
<br />1,409,100
<br />1,413,384
<br />1,407,400
<br />(1,500)
<br />1,405,900
<br />Revenue Over (Under) Expenditures (13,184) (541,251) 45,817
<br />NOTES:
<br />a - Represents the State Tax Board's final budget estimate received in January 2005.
<br />PROJECTION OF CASH BALANCE NEEDED FOR DEBT SERVICE PAYMENTS
<br />College Football Hall of Fame Bond Fund cash balance as of 111105 164,216
<br />2005 Budget excess (above) 105,165
<br />Projected CFHFB cash balance as of 12/31/05 269,381
<br />Debt Service payment due 1128/06 (702,250)
<br />Projected cash balance after 1128106 payment (assuming 100% receipt of 2005 tax levy) (432,869)
<br />I V O, mo
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