2012-2013 Budget - City of Saginaw MI

REVENUE BUDGET SUMMARYFOREST LAWN CEMETERY FUNDForest Lawn Cemetery Fund is a Fiduciary Fund for theCity of Saginaw. This fund is used to report resourcesthat are legally restricted to the extent that only earningsmay be used for cemetery care purposes in support of thecity’s program. In accordance with Chapter XIII,Section 83 Cemetery Trust Funds, in the Charter of theCity of Saginaw, the city must allocate 25% of allmonies, which comes from the sale of lots and singlegraves, to the cemeteries trust funds. This income willbe used annually for the general care and maintenance ofeach city-owned cemetery. For FY 2013, the ForestLawn Cemetery Fund revenues will be $70,263. This isan increase of $42,638 from the previous fiscal year.This increase is due to an increase in the expectedrevenues for the sale of lots and single graves at the cityownedcemeteries and the inclusion of the reserves tocover FY 2013 cemetery expenditures.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedCharge for Services 0 0 21,047 27,625 27,625 25,750 28,263Other Revenue 0 0 0 0 0 0 42,000Total Revenues 0 0 21,047 27,625 27,625 25,750 70,263REVENUE TRENDS80,00070,00060,00050,00040,00030,00020,00010,0000Total Forest Lawn CemeteryRevenues Since 2002TotalForestLawnRevenuesThe above graph reflects numerical data from FY 2002 – FY 2011 Actual Revenues, FY 2012 Approved Revenues, andFY 2013 Approved Budget. From FY 2001- 2004, the city realizes a steady decline in the revenues received in this fund.This decline is associated to the amount of monies that are collected in the sale of lots and single grave sites. From FY2005-2007, the city realized a slight increase in the amounts collected. However, in FY 2008 -2010, revenues were notrecognized in this fund. This was attributed to an accounting error with the change in the City’s Controllers Office. InFY 2011 – 2013 this misallocation was corrected and revenues are recognized in this fund.314