Comprehensive Annual Financial Report - City of Santa Monica

CITY OF SANTA MONICA, CALIFORNIA
Schedule of Revenues, Expenditures and Changes in
Fund Balance (Deficit) – Budget and Actual (Non-GAAP Basis)
Downtown Redevelopment Project Capital Projects Fund (Major Fund)
Year ended June 30, 2009
112
Less
2007-2008 Plus Actual, Variance –
Original Final encumbered 2008-2009 budgetary positive
budget budget Actual expenditures* encumbrances basis (negative)
Revenues:
Incremental property taxes $ 633,000
986,150 797,550 — — 797,550 (188,600)
Investment income 18,000 18,000 92,295 — — 92,295 74,295
Rental income 180,000 180,000 — — — — (180,000)
Other income — — 7,561 — — 7,561 7,561
Total project revenues 831,000 1,184,150 897,406 — — 897,406 (286,744)
Expenditures:
Housing and community development:
Supplies 70,191 112,894 113,372 — — 113,372 (478)
Capital improvements — 1,625,399 173,324 — 76,447 249,771 1,375,628
Total housing and community development 70,191 1,738,293 286,696 — 76,447 363,143 1,375,150
Debt service expenditures – interest 230,000 525,950 560,691 — — 560,691 (34,741)
Total project expenditures 300,191 2,264,243 847,387 — 76,447 923,834 1,340,409
Excess (deficiency) of revenues
over (under) expenditures 530,809 (1,080,093) 50,019 — (76,447) (26,428) 1,053,665
Other financing (uses):
Transfers out (411,080) (411,080) (343,624) — — (343,624) 67,456
Net change in fund balance 119,729 (1,491,173) (293,605) — (76,447) (370,052) 1,121,121
Fund (deficit) at beginning of year (15,050,909) (15,050,909) (15,050,909) — — (15,050,909) —
Fund (deficit) at end of year $ (14,931,180) (16,542,082) (15,344,514) — (76,447) (15,420,961) 1,121,121
* No encumbrances were outstanding at June 30, 2008.