2012-2013 Budget - City of Saginaw MI

REVENUE BUDGET SUMMARYCOMMUNITY DEVELOPMENT BLOCK GRANT (CDBG)The Community Development Block Grant Fund is usedto account for the revenues and expenditures of theFederal Community Development Block GrantEntitlement Program. This is classified as a SpecialRevenue Fund, which is defined as a fund used toaccount for proceeds of specific revenue sources that arelegally restricted to expenditures for specific purposes.The major source of revenue for this fund is theDepartment of Housing and Development entitlementmonies. For 2013 CDBG revenues will decrease by -13.74% from the 2012 Approved Budget. This decreaseis due to a reduction in the City’s federal entitlementallocation.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedFederal Grants 2,483,945 2,872,636 2,661,615 2,453,810 2,961,975 2,298,574 2,116,577Interests and Rents 426 216 145 0 0 65 0Other Revenues 4,873 108,952 14,609 0 0 0 0REVENUE TRENDSTotal Revenues 2,489,244 2,981,804 2,676,369 2,453,810 2,961,975 2,298,639 2,116,5774,500,0004,000,0003,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,000-Total Community Development BlockGrant Revenues Since 2002Total CDBGRevenuesThe above graph reflects numerical data from FY 2002 – FY 2011 Actual Revenues, FY 2012 Approved Revenues, andFY 2013 Approved Budget. This trend reveals three significant spikes in revenue: 2002, 2004, and 2010. In 2002, therewas a 31.21% increase in block grant entitlement funds. In 2004, there was a $547,054 increase in transfer into the fundfrom SEDC. Lastly, in 2010 there was 200% increase in monies for the Stewart McKinney Homeless Program. The fundalso experienced two major drops in revenue in 2005 there was a decrease in Child Care Fees and transfers fromcomponent units. In 2009, there was a -13.77% decrease in block grant entitlement monies. The CDBG revenue hasdecreased steadily from 2010 through 2013.209