2012-2013 Budget - City of Saginaw MI

REVENUE BUDGET SUMMARYECONOMIC DEVELOPMENT FUNDThe Economic Development Fund was established toprovide funds to be used as local match for federal andstate grants for riverfront development projects. Thesefunds are proceeds from a loan that was paid off whenthe Morley Building was sold.In previous fiscal years, these funds were not budgeted;even though these funds were continuously utilized. ForFY 2012/2013, the Economic Development Fund will be$22,036. The city expects to receive monies from theMichigan Strategic Fund to continue to fund theactivities of AKT Peerless Environmental.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedGrants 45,000 24,865 14,531 0 14,000 0 14,531Interest and Rents 3,173 51 69 0 0 (52) 50Other Revenues 0 0 0 0 0 0 7,455Total Revenues 48,173 24,916 14,600 0 14,000 (52) 22,036EXPENDITURE BUDGET SUMMARYThe total Economic Development Fund will be $22,036for FY 2013. This is a 100% increase from the previousfiscal year. The City will continue to pay AKT PeerlessEnvironmental for their ongoing efforts.FUNDING LEVEL SUMMARY2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected Approved6064 EconomicDevelopment 47,456 17,036 22,036 0 14,000 0 22,036Total Expenditures 47,456 17,036 22,036 0 14,000 0 22,036FUNDING 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 47,456 17,036 22,036 0 14,000 0 22,036Capital Outlay 0 0 0 0 0 0 0Total Expenditures 47,456 17,036 22,036 0 14,000 0 22,036200