2012-2013 Budget - City of Saginaw MI
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2012-2013 Budget - City of Saginaw MI

2012-2013 Budget - City of Saginaw MI 2012-2013 Budget - City of Saginaw MI

saginaw.mi.com
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12.07.2015 Views

BLISS PARK EXPENDITURE ENDOWMENT (737)RESOURCE ALLOCATION2012/2013 APPROVED BUDGETOver the years, the city has accepted several bequests or donations to be held in trust to support some publicpurpose. Assets of these trusts are placed in non-expendable trusts and invested by the city. Proceeds fromthese investments are credited to expendable trust funds and are available for expenditures as required tofulfill the obligations of the trust.Bliss Park Expenditure Endowment accounts for this activity. This fund provides for the beautificationactivities that take place seasonally in the park. Activities include the restocking of the gardens and thetemporary caretaker employed to maintain the park. The source of funding is the A.T. Bliss Endowment(expendable).RESOURCESAPPROPRIATIONSOTHER REVENUES 0 BLISS PARK MAINTENANCE 0TOTAL RESOURCES 0 TOTAL APPROPRIATIONS 0325

200220032004200520062007200820092010201120122013REVENUE BUDGET SUMMARYBLISS PARK EXPENDITURE ENDOWMENTThe Bliss Park Expenditure Endowment Fund isrecorded as the only budgeted trust and agency fund.These funds are used to account for property taxescollected by the City for other units of government untilthe tax proceeds are remitted to them. Funds retainedfrom contractors during construction projects andemployee and employer payroll withholdings andbenefits are also recorded here. The fund will no longerbe operational in FY 2013. In FY 2013, the Bliss ParkExpenditure Endowment Fund will be inactive. Theendowment has been exhausted and lawn services willbe absorbed in under the General Fund’s FacilitiesDivision.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedInterest and Rents 166 44 -9 0 0 10 0Other Revenues 6,921 0 0 8,700 5,800 5,790 0Total Revenues 7,078 44 -9 8,700 5,800 5,800 0REVENUE TRENDS12,000Total Bliss Park Expenditure EndowmentRevenues Since 200210,0008,0006,0004,000Total Bliss Park Revenues2,000-The above graph reflects numerical data from FY 2002 – FY 2011 Actual Revenues, FY 2012 Approved Revenues, andFY 2013 Approved Budget. The revenue trend above illustrates there was a significant drop in endowment fundsavailable for operations 2004 through 2006, with a return to average levels in 2007 through 2012. The revenue stream forthis fund was exhausted in FY 2012.326

BLISS PARK EXPENDITURE ENDOWMENT (737)RESOURCE ALLOCATION<strong>2012</strong>/<strong>2013</strong> APPROVED BUDGETOver the years, the city has accepted several bequests or donations to be held in trust to support some publicpurpose. Assets <strong>of</strong> these trusts are placed in non-expendable trusts and invested by the city. Proceeds fromthese investments are credited to expendable trust funds and are available for expenditures as required t<strong>of</strong>ulfill the obligations <strong>of</strong> the trust.Bliss Park Expenditure Endowment accounts for this activity. This fund provides for the beautificationactivities that take place seasonally in the park. Activities include the restocking <strong>of</strong> the gardens and thetemporary caretaker employed to maintain the park. The source <strong>of</strong> funding is the A.T. Bliss Endowment(expendable).RESOURCESAPPROPRIATIONSOTHER REVENUES 0 BLISS PARK MAINTENANCE 0TOTAL RESOURCES 0 TOTAL APPROPRIATIONS 0325

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