2012-2013 Budget - City of Saginaw MI

BROWNFIELD AUTHORITY SRRFREVENUE BUDGET SUMMARYThe Brownfield Redevelopment Authority wasestablished by City Council on September 29, 1997under the provision of 1996 PA 381 as amended, topromote the revitalization of brownfield areas in the Cityof Saginaw. The Brownfield Authority SRRF Fundaccounts for revenues and expenditures captured andutilized in the various brownfield districts within the citylimits. Plans must be developed and approved by CityCouncil prior to the City Assessor capturing these taxdollars. A portion of these tax dollars must be utilizedon reinvesting in these brownfield areas. The CityController and Assessing Offices work with theDepartment of Development to ensure that this district isin compliance with the approved plans and that alldollars collected are reconciled.For the Approved 2012/13 Budget, revenues in theBrownfield Authority SRRF Fund will be $32,702. Thisrepresents a $756, increase from the previous fiscal year.This increase is attributed to an increase in the realproperty tax values within these districts.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedProperty Taxes 34,122 22,583 31,031 31,946 31,946 29,585 32,702Total Revenues 34,122 22,583 31,031 31,946 31,946 29,585 32,702EXPENDITURE BUDGET SUMMARYThe total Brownfield Authority SRRF Fund expenditures for FY 2013 will be $32,702. The category of MiscellaneousExpenditures will increase due to the amount appropriated to be reinvested in these districts.FUNDING LEVEL SUMMARY2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected Approved1775 Component Unit 6,136 20,595 31,031 31,946 31,946 3,711 32,702Total Expenditures 6,136 20,595 31,031 31,946 31,946 3,711 32,702FUNDING 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 6,136 20,595 31,031 31,946 31,946 3,711 32,702Total Expenditures 6,136 20,595 31,031 31,946 31,946 3,711 32,702201