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City of Muskegon
Quarterly Budget Reforecast and 2004 Proposed Budget
2004 Budget Summary for Minor City funds
Beginning Fund Balance/Retained Unreserved Ending Fund
Fund Earnings Total Means of Financing Total Requirements Requirements Under (Over) Means* Balance/Retained Earnings
Actual Estimated Budgeted Actual Estimated Budgeted Actual Estimated Budgeted Actual Estimated Budgeted Actual Estimated Budgeted
2002 2003 2004 2002 2003 2004 2002 2003 2004 2002 2003 2004 2002 2003 2004
Special Revenue Funds
264 Criminal Forfeitures Fund 26,414
107,007
82,007
97,071
50,000
10,000
16,478
75,000
10,000
80,593
(25,000)
- 107,007
82,007
82,007
257 Budget Stabilization Fund 2,000,000
2,000,000
1,000,000
- - - - 1,000,000
500,000
- (1,000,000)
(500,000)
2,000,000
1,000,000
500,000
260 Land Reutilization Fund 22,609
23,162
23,162
553
1,000
1,000
- 1,000
1,000
553
- - 23,162
23,162
23,162
285 Tree Replacement Fund 8,501
7,630
7,630
204
3,000
3,000
1,075
3,000
3,000
(871)
- - 7,630
7,630
7,630
Debt Service Funds
Tax Increment Finance
305 Authority Debt Fund 60,306
59,757
- 145,843
60,243
60,000
146,392
120,000
60,000
(549)
(59,757)
- 59,757
- -
Special Assessment Debt
306 Service Fund 372,228
191,041
181,041
89,746
100,000
100,000
270,933
110,000
70,000
(181,187)
(10,000)
30,000
191,041
181,041
211,041
Component Units
Downtown Development
394 Authority Debt Fund 122,672
108,202
8,202
517,686
500,000
550,000
532,156
600,000
460,000
(14,470)
(100,000)
90,000
108,202
8,202
98,202
Local Development Finance
289 Authority I Fund 288
299
309
11
10
10
- - - 11
10
10
299
309
319
Local Development Finance
288 Authority II Fund 426,542
382,247
- 808,990
910,000
- 853,285
1,292,247
- (44,295)
(382,247)
- 382,247
- -
Local Development Finance
290 Authority III Fund (Smartzone) - 4,282,591
702,444
4,756,536
25,000
50,000
473,945
3,605,147
205,147
4,282,591
(3,580,147)
(155,147)
4,282,591
702,444
547,297
Total Minor Funds 3,039,560
$ 7,161,936
$ 2,004,795
$ $ 6,416,640
1,649,253
$ $ 774,010
2,294,264
$ 6,806,394
$ 1,309,147
$ 4,122,376
$ $(5,157,141)
(535,137)
$ 7,161,936
$ 2,004,795
$ 1,469,658
$
* State law prohibits the City from adopting a budget that results in a projected year-end deficit for any fund (i.e. negative fund balance or negative retained earnings). In
all cases where budgeted requirements exceed the budgeted means of financing, the shortfall is covered by use of available fund balance or retained earnings.