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City of Muskegon
Major Special Revenue Funds
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES - BUDGET AND ACTUAL
Year Ended December 31, 2003
Major Street and Trunkline Fund Local Street Fund
Variance-With Variance-With
Amended Budget Amended Budget
Original Amended Positive Original Amended Positive
Budget Budget Actual (Negative) Budget Budget Actual (Negative)
Revenues
Special assessments $ 200,000
$ 350,000
$ 358,650
$ 8,650
$ 100,000
240,770
$ $ 240,781
$ 11
Federal grants 656,000
1,975,000
1,275,245
(699,755)
- 246,000
246,000
-
State grants 10,950,000
4,420,545
4,561,233
140,688
100,000
1,120,770
1,120,771
1
State shared revenues 2,675,215
2,400,000
2,499,757
99,757
654,351
666,650
666,649
(1)
Charges for services 320,000
350,000
439,219
89,219
- - - -
Interest income 100,000
125,000
169,533
44,533
19,000
15,125
15,133
8
Other 288
55
56
1 1,000
585
586
1
Total revenues 14,901,503
9,620,600
9,303,693
(316,907)
874,351
2,289,900
2,289,920
20
Expenditures
Current
Highway, streets and bridges 15,620,290
8,836,000
8,340,206
495,794
1,619,186
3,402,830
3,459,811
(56,981)
Debt service
Principal 550,000
550,000
550,000
-
- - - -
Interest 90,413
100,000
97,425
2,575
- - - -
Total expenditures 16,260,703
9,486,000
8,987,631
498,369
1,619,186
3,402,830
3,459,811
(56,981)
Excess (deficiency) of revenues over
expenditures (1,359,200)
134,600
316,062
181,462
(744,835)
(1,112,930)
(1,169,891)
(56,961)
Other financing sources (uses)
Transfers in - - - - 710,000
1,370,000
1,370,000
-
Transfers out - (525,000)
(525,049)
(49)
- (64,170)
(64,169)
1
Total other financing sources (uses) - (525,000)
(525,049)
(49)
710,000
1,305,830
1,305,831
1
Excess (deficiency) of revenues and other
sources over expenditures and other uses (1,359,200)
(390,400)
(208,987)
181,413
(34,835)
192,900
135,940
(56,960)
Fund balances at beginning of year 1,622,095
1,622,095
1,622,095
-
9,701
9,701
9,701
-
Fund balances at end of year $ 262,895
1,231,695
$ $ 1,413,108
$ 181,413
$ (25,134)
202,601
$ $ 145,641
(56,960)
$