2012-2013 Budget - City of Saginaw MI

COMMERCE CENTER DDAREVENUE BUDGET SUMMARYThe Commerce Center DDA Fund accounts for revenuesand expenditures captured and utilized in the CommerceCenter District. Projects must be approved City Councilprior to the City Assessor capturing these tax dollars.After these dollars have been collected then a portion ofcapturing monies must be utilized on reinvesting in theCommerce Center District. The plan requires thatupdates must be made in the district or on the CommerceBuilding. The City Controller and Assessing Officeswork with the Department of Development to ensure thatthis district is in compliance with the approved plan andthat all dollars collected are reconciled.For the Approved 2012/2013 Budget, revenues in theCommerce Center DDA Fund will be $26,172, whichrepresents a -10.66% reduction from the previous fiscalyear. This reduction is attributed to a decrease in thereal property tax values in this district.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedProperty Taxes 31,314 29,290 29,031 29,296 29,296 27,993 26,172Interest and Rents 0 0 59 0 0 (53) 0Other Revenues 0 0 0 0 0 0 0Total Revenues 31,314 29,290 29,090 29,296 29,296 27,941 26,172EXPENDITURE BUDGET SUMMARYThe total Commerce Center DDA expenditures for 2013 will be $26,172. In the category of MiscellaneousExpenditures, expenditures will be $26,172. These monies are for reinvest in the district.FUNDING LEVEL SUMMARY2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected Approved1775 Component Unit 28,385 28,934 29,090 29,296 29,296 26,006 26,172Total Expenditures 28,385 28,934 29,090 29,296 29,296 26,006 26,172FUNDING LEVEL BY CATEGORY2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedPersonnel Services 0 0 0 0 0 0 0Operating Expenses 0 0 0 0 0 0 0Capital Outlay 0 0 0 0 0 0 0Miscellaneous 28,385 28,934 29,090 29,296 29,296 26,006 26,172Total Expenditures 28,385 28,934 29,090 29,296 29,296 26,006 26,172197