2012-2013 Budget - City of Saginaw MI

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