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THE CITY OF SOUTH BEND
<br />2005 BUDGET - SUMMARY OF MAJOR CHANGES FROM 2004
<br />CUMULATIVE CAPITAL DEVELOPMENT FUND (Fund #406)
<br />Total Revenue Increase/(Decrease)
<br />Revenue Increase/(Decrease) as a Percent
<br />2003
<br />2004
<br />2004
<br />Anticipated
<br />Actual
<br />Actual
<br />Actual
<br />Budget
<br />Changes
<br />REVENUE:
<br />100,270
<br />Payments Due on Outstanding Leases:
<br />(26,515)
<br />373,785
<br />General Property Taxes
<br />1,022,511
<br />595,024
<br />1,003,664
<br />44,161 a
<br />Auto Excise Taxes
<br />66,021
<br />63,193
<br />56,429
<br />6,291 b
<br />Commercial Vehicle Excise Tax
<br />13,676
<br />14,083
<br />14,162
<br />669 a
<br />Financial Institutions Tax
<br />3,195
<br />2,951
<br />2,385
<br />0
<br />Reimbursements
<br />0
<br />0
<br />85,276
<br />(23,501)
<br />Interest on Investments
<br />12,971
<br />18,158
<br />13,000
<br />0
<br />Total Revenue
<br />1,118,374
<br />693,409
<br />1,174,916
<br />27,620
<br />Total Revenue Increase/(Decrease)
<br />Revenue Increase/(Decrease) as a Percent
<br />Expenditures approved as a part of the Capital Budget (see note c & d):
<br />Street Division Motor Vehicles & Equipment 317,605
<br />Computer Equipment & Networking 454,502
<br />Total Expenditures 883,116 951,924
<br />182,918
<br />589,882
<br />2005
<br />Budget
<br />1,047,825
<br />62,720
<br />14,831
<br />2.385
<br />61,775
<br />13,000
<br />1,202, 536
<br />27,620
<br />2.4%
<br />2004
<br />2003
<br />2004
<br />Budget
<br />Actual
<br />Actual
<br />EXPENDITURES:
<br />0
<br />93,262
<br />Expenditures approved as a part of the Operating Budget:
<br />(75,000)
<br />100,270
<br />Payments Due on Outstanding Leases:
<br />(26,515)
<br />373,785
<br />Various master leases - 2003
<br />2,091
<br />96,799
<br />Computer Maintenance
<br />108,918
<br />82,325
<br />Expenditures approved as a part of the Capital Budget (see note c & d):
<br />Street Division Motor Vehicles & Equipment 317,605
<br />Computer Equipment & Networking 454,502
<br />Total Expenditures 883,116 951,924
<br />182,918
<br />589,882
<br />2005
<br />Budget
<br />1,047,825
<br />62,720
<br />14,831
<br />2.385
<br />61,775
<br />13,000
<br />1,202, 536
<br />27,620
<br />2.4%
<br />2004
<br />Anticipated
<br />2005
<br />Budget
<br />Changes
<br />Budget
<br />93,262
<br />0
<br />93,262
<br />175,270
<br />(75,000)
<br />100,270
<br />400,300
<br />(26,515)
<br />373,785
<br />1,033,080
<br />(558,164)
<br />474,916
<br />1,701,912
<br />(659,679)
<br />1,042,233
<br />Revenue Overl(Under) Expenditures 235,258 (258,515) (526,996) 160,303
<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 2003 & 2004 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.
<br />PROJECTION OF CAPITAL FUNDS AVAILABLE FOR 2006 AND BEYOND
<br />CCDF Fund cash balance as of 12/31/04
<br />1,486,874
<br />Less: Encumbrances outstanding as of 12/31/04
<br />(755,943)
<br />CCDF Fund cash balance as of 12/31/04
<br />730,931
<br />2005 Budgeted Revenue (see above)
<br />1,202,536
<br />2005 Budgeted Expenditures (see above)
<br />(1,042,233)
<br />Projected CCDF Fund cash balance as of 12/31/05 - Available for capital appropriations in 2006
<br />891,234
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