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                                                                                                                  City of Muskegon
                                                                                              Non-Major Capital Projects Funds 

                                                                                                COMBINING BALANCE SHEET

                                                                                                                  December 31, 2003




                                                                                                                             Community                                                                                                     EDC
                                             Sidewalk                   Michcon                    Public                    Development                     State                 Lakeshore                     HOME                 Revolving EC 
                                                                                                                                                                                                                                                                       Micro                 Combined
                                          Replacement                Remediation Improvement                                 Block Grant                   Grants                        Trail              Rehabilitation                Loan                      Loan                      Totals
ASSETS
   Cash and cash equivalents              $       863,631
                                                                            187,143
                                                                     $                        $   1,043,941
                                                                                                                                                  -
                                                                                                                             $                                               -
                                                                                                                                                       $                                  458,664
                                                                                                                                                                                  $                                             -
                                                                                                                                                                                                            $                               928,252
                                                                                                                                                                                                                                     $                        $                  -            3,481,631
                                                                                                                                                                                                                                                                                        $     
   Receivables (net of allowance for 
    uncollectibles)
      Accounts and loans                                       -                         -
                                                                                                                   100
                                                                                                                                     611,865
                                                                                                                                                                          -                           -
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                  7,499
                                                                                                                                                                                                                                                                           5,119
                                                                                                                                                                                                                                                                                                   624,583
                                                                                                                                                                                                                                                                                                  
      Special assessments                       1,287,098
                                                                                         -
                                                                                                                        -
                                                                                                                                                  -
                                                                                                                                                                          -                           -
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                              1,287,098
                                                                                                                                                                                                                                                                                               
   Due from other funds                                        -                         -
                                                                                                                        -
                                                                                                                                                  -
                                                                                                                                                              177,313
                                                                                                                                                                                                      -
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                   177,313
                                                                                                                                                                                                                                                                                                  
   Due from other governmental units                           -                         -
                                                                                                      390,600
                                                                                                                                                  -
                                                                                                                                                              440,741
                                                                                                                                                                                                      -
                                                                                                                                                                                                                   335,347
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                      61,306
                                                                                                                                                                                                                                                                                              1,227,994
                                                                                                                                                                                                                                                                                               

TOTAL ASSETS                              $    2,150,729
                                                                            187,143
                                                                     $                        $   1,434,641
                                                                                                                             $      611,865
                                                                                                                                                       $     618,054
                                                                                                                                                                                  $      458,664
                                                                                                                                                                                                                   335,347
                                                                                                                                                                                                            $                               935,751
                                                                                                                                                                                                                                     $                        $         66,425
                                                                                                                                                                                                                                                                                              6,798,619
                                                                                                                                                                                                                                                                                        $     


LIABILITIES AND FUND BALANCES 
Liabilities
   Accounts payable                       $                   -                          -
                                                                     $                        $              209
                                                                                                                             $        17,179
                                                                                                                                                       $       20,734
                                                                                                                                                                                  $                  -                   43,184
                                                                                                                                                                                                            $                                            -
                                                                                                                                                                                                                                     $                                            -
                                                                                                                                                                                                                                                              $                                       81,306
                                                                                                                                                                                                                                                                                        $          
   Accrued payroll                                             -                         -
                                                                                                                        -
                                                                                                                                              4,790
                                                                                                                                                                          -                           -
                                                                                                                                                                                                                          1,109
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                       5,899
                                                                                                                                                                                                                                                                                                      
   Due to other funds                                          -                         -
                                                                                                                        -
                                                                                                                                     235,344
                                                                                                                                                              595,801
                                                                                                                                                                                          177,313
                                                                                                                                                                                                                   291,054
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                      32,993
                                                                                                                                                                                                                                                                                              1,332,505
                                                                                                                                                                                                                                                                                               
   Deferred revenue                             1,117,836
                                                                                         -
                                                                                                         26,000
                                                                                                                                     354,552
                                                                                                                                                                          -                           -
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                      30,653
                                                                                                                                                                                                                                                                                              1,529,041
                                                                                                                                                                                                                                                                                               
Total liabilities                               1,117,836
                                                                                         -
                                                                                                         26,209
                                                                                                                                     611,865
                                                                                                                                                              616,535
                                                                                                                                                                                          177,313
                                                                                                                                                                                                                   335,347
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                      63,646
                                                                                                                                                                                                                                                                                              2,948,751
                                                                                                                                                                                                                                                                                               

Fund balances 
   Unreserved
      Designated for approved projects                         -                         -
                                                                                                      322,568
                                                                                                                                                  -
                                                                                                                                                                          -                           -
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                                         -
                                                                                                                                                                                                                                                                                  -
                                                                                                                                                                                                                                                                                                   322,568
                                                                                                                                                                                                                                                                                                  
      Undesignated                              1,032,893
                                                                            187,143
                                                                                                   1,085,864
                                                                                                                                                  -
                                                                                                                                                                  1,519
                                                                                                                                                                                          281,351
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                            935,751
                                                                                                                                                                                                                                                                           2,779
                                                                                                                                                                                                                                                                                              3,527,300
                                                                                                                                                                                                                                                                                               
Total fund balances                             1,032,893
                                                                            187,143
                                                                                                   1,408,432
                                                                                                                                                  -
                                                                                                                                                                  1,519
                                                                                                                                                                                          281,351
                                                                                                                                                                                                                                -
                                                                                                                                                                                                                                            935,751
                                                                                                                                                                                                                                                                           2,779
                                                                                                                                                                                                                                                                                              3,849,868
                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                         
TOTAL LIABILITIES AND FUND BALANCES       $    2,150,729
                                                                            187,143
                                                                     $                        $   1,434,641
                                                                                                                             $      611,865
                                                                                                                                                       $     618,054
                                                                                                                                                                                  $      458,664
                                                                                                                                                                                                                   335,347
                                                                                                                                                                                                            $                               935,751
                                                                                                                                                                                                                                     $                        $         66,425
                                                                                                                                                                                                                                                                                              6,798,619
                                                                                                                                                                                                                                                                                        $