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                                                                                                                                          City of Muskegon
                                                                                                                               Non-Major Capital Projects Funds

                                                                                            COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
                                                                                                                         CHANGES IN FUND BALANCES 

                                                                                                                                    Year Ended 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
Revenues
   Special assessments                                  $       345,052
                                                                                           $                   -     $                   -     $                   -         $                   -         $                   -     $                   -     $                -       $                   -        $         345,052
                                                                                                                                                                                                                                                                                                                                      
   Federal grants                                                           -                                  -              390,600
                                                                                                                                                     1,260,243
                                                                                                                                                                                      212,473
                                                                                                                                                                                                                               -              767,795
                                                                                                                                                                                                                                                                                  -                30,653
                                                                                                                                                                                                                                                                                                                             2,661,764
                                                                                                                                                                                                                                                                                                                            
   State grants                                                             -                                  -                         -                         -                  669,930
                                                                                                                                                                                                                               -                         -                        -                         -                   669,930
                                                                                                                                                                                                                                                                                                                                      
   Interest income                                                 66,211
                                                                                                        3,314
                                                                                                                                16,347
                                                                                                                                                            2,507
                                                                                                                                                                                                 -                      8,715
                                                                                                                                                                                                                                                         -              14,116
                                                                                                                                                                                                                                                                                                          45
                                                                                                                                                                                                                                                                                                                                111,255
                                                                                                                                                                                                                                                                                                                                      
   Other                                                                    3                                  -                75,454
                                                                                                                                                          69,288
                                                                                                                                                                                        25,000
                                                                                                                                                                                                                               -                         -              17,460
                                                                                                                                                                                                                                                                                                            -                   187,205
                                                                                                                                                                                                                                                                                                                                      
Total revenues                                                   411,266
                                                                                                        3,314
                                                                                                                              482,401
                                                                                                                                                     1,332,038
                                                                                                                                                                                      907,403
                                                                                                                                                                                                                        8,715
                                                                                                                                                                                                                                              767,795
                                                                                                                                                                                                                                                                        31,576
                                                                                                                                                                                                                                                                                                   30,698
                                                                                                                                                                                                                                                                                                                             3,975,206
                                                                                                                                                                                                                                                                                                                            

Expenditures 
   Capital outlay
      Personnel services                                                    -                                  -                         -              234,438
                                                                                                                                                                                                 -                             -                50,258
                                                                                                                                                                                                                                                                                  -                         -                   284,696
                                                                                                                                                                                                                                                                                                                                      
      Operating supplies                                                    -                                  -                         -              224,013
                                                                                                                                                                                                 -                             -                         -                        -                         -                   224,013
                                                                                                                                                                                                                                                                                                                                      
      Contractual services and other                             574,174
                                                                                                        1,690
                                                                                                                              107,705
                                                                                                                                                        939,723
                                                                                                                                                                                   1,141,126
                                                                                                                                                                                                                        1,300
                                                                                                                                                                                                                                              885,542
                                                                                                                                                                                                                                                                             451
                                                                                                                                                                                                                                                                                                   50,901
                                                                                                                                                                                                                                                                                                                             3,702,612
                                                                                                                                                                                                                                                                                                                            
   Debt service
      Principal                                                  317,013
                                                                                                               -              150,000
                                                                                                                                                                   -                             -                             -                         -                        -                         -                   467,013
                                                                                                                                                                                                                                                                                                                                      
      Interest                                                     99,411
                                                                                                               -                         -                         -                             -                             -                         -                        -                         -                     99,411
                                                                                                                                                                                                                                                                                                                                           
Total expenditures                                               990,598
                                                                                                        1,690
                                                                                                                              257,705
                                                                                                                                                     1,398,174
                                                                                                                                                                                   1,141,126
                                                                                                                                                                                                                        1,300
                                                                                                                                                                                                                                              935,800
                                                                                                                                                                                                                                                                             451
                                                                                                                                                                                                                                                                                                   50,901
                                                                                                                                                                                                                                                                                                                             4,777,745
                                                                                                                                                                                                                                                                                                                            

   Excess (deficiency) of revenues over expenditures           (579,332)
                                                                                                        1,624
                                                                                                                              224,696
                                                                                                                                                        (66,136)
                                                                                                                                                                                    (233,723)
                                                                                                                                                                                                                        7,415
                                                                                                                                                                                                                                            (168,005)
                                                                                                                                                                                                                                                                        31,125
                                                                                                                                                                                                                                                                                                 (20,203)
                                                                                                                                                                                                                                                                                                                               (802,539)
                                                                                                                                                                                                                                                                                                                                 

Other financing sources (uses)
   Transfers in                                                    89,218
                                                                                                               -              150,000
                                                                                                                                                                   -                  235,242
                                                                                                                                                                                                                               -                         -                        -                         -                   474,460
                                                                                                                                                                                                                                                                                                                                      
   Sale of property                                                         -                                  -                47,939
                                                                                                                                                          66,136
                                                                                                                                                                                                 -                             -              168,005
                                                                                                                                                                                                                                                                                  -                         -                   282,080
                                                                                                                                                                                                                                                                                                                                      
   Bonds issued                                               1,575,000
                                                                                                               -                         -                         -                             -                             -                         -                        -                         -                1,575,000
                                                                                                                                                                                                                                                                                                                            
   Premium on bonds                                                  3,009
                                                                                                               -                         -                         -                             -                             -                         -                        -                         -                       3,009
                                                                                                                                                                                                                                                                                                                                                
   Transfers out                                                            -                                  -                         -                         -                             -                (224,386)
                                                                                                                                                                                                                                                         -               (5,000)
                                                                                                                                                                                                                                                                                                            -                  (229,386)
                                                                                                                                                                                                                                                                                                                                 
Total other financing sources (uses)                          1,667,227
                                                                                                               -              197,939
                                                                                                                                                          66,136
                                                                                                                                                                                      235,242
                                                                                                                                                                                                                  (224,386)
                                                                                                                                                                                                                                              168,005
                                                                                                                                                                                                                                                                         (5,000)
                                                                                                                                                                                                                                                                                                            -                2,105,163
                                                                                                                                                                                                                                                                                                                            

   Excess (deficiency) of revenues and other
    sources over expenditures and other uses                  1,087,895
                                                                                                        1,624
                                                                                                                              422,635
                                                                                                                                                                   -                      1,519
                                                                                                                                                                                                                  (216,971)
                                                                                                                                                                                                                                                         -              26,125
                                                                                                                                                                                                                                                                                                 (20,203)
                                                                                                                                                                                                                                                                                                                             1,302,624
                                                                                                                                                                                                                                                                                                                            

Fund balances (deficit) at beginning of year                     (55,002)
                                                                                                    185,519
                                                                                                                              985,797
                                                                                                                                                                   -                             -                  498,322
                                                                                                                                                                                                                                                         -            909,626
                                                                                                                                                                                                                                                                                                   22,982
                                                                                                                                                                                                                                                                                                                             2,547,244
                                                                                                                                                                                                                                                                                                                            

Fund balances at end of year                            $    1,032,893
                                                                                           $       187,143
                                                                                                                     $    1,408,432
                                                                                                                                               $                   -         $           1,519
                                                                                                                                                                                                           $       281,351
                                                                                                                                                                                                                                     $                  -      $     935,751
                                                                                                                                                                                                                                                                                        $           2,779
                                                                                                                                                                                                                                                                                                                     $      3,849,868