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    Spending Summary

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    Ann Arbor Government Documents
    The document summarizes revenues and expenses for the Municipal Center Fund from FY06 to the first 5 months of FY10. Total expenses have grown from $91,327 in FY06 to over $9.5 million in the first 5 months of FY10, with the largest expenses being construction costs and professional fees. Revenues have come from bond proceeds, transfers from other funds, and investment income. The fund balance has fluctuated over the years but was $23 million at the end of November for FY10.

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    Spending Summary

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    Ann Arbor Government Documents
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    The document summarizes revenues and expenses for the Municipal Center Fund from FY06 to the first 5 months of FY10. Total expenses have grown from $91,327 in FY06 to over $9.5 million in the first 5 months of FY10, with the largest expenses being construction costs and professional fees. Revenues have come from bond proceeds, transfers from other funds, and investment income. The fund balance has fluctuated over the years but was $23 million at the end of November for FY10.

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    The document summarizes revenues and expenses for the Municipal Center Fund from FY06 to the first 5 months of FY10. Total expenses have grown from $91,327 in FY06 to over $9.5 million in the first 5 months of FY10, with the largest expenses being construction costs and professional fees. Revenues have come from bond proceeds, transfers from other funds, and investment income. The fund balance has fluctuated over the years but was $23 million at the end of November for FY10.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    22 views1 page

    Spending Summary

    Uploaded by

    Ann Arbor Government Documents
    The document summarizes revenues and expenses for the Municipal Center Fund from FY06 to the first 5 months of FY10. Total expenses have grown from $91,327 in FY06 to over $9.5 million in the first 5 months of FY10, with the largest expenses being construction costs and professional fees. Revenues have come from bond proceeds, transfers from other funds, and investment income. The fund balance has fluctuated over the years but was $23 million at the end of November for FY10.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as XLS, PDF, TXT or read online from Scribd
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    Municipal Center Fund

    FY06 FY07 FY08 FT09 YTD FY10 Nov Cumulative total


    Total expenses 91,327.08 263,370.94 2,206,466.65 7,944,946.44 9,500,750.87 20,006,861.98
    Expense breakdown
    Professional fees -213,931.43 -2,100,383.92 -2,810,806.76 -594,206.99 -5,719,329.10
    Contract services -234,132.28 -71,418.50 -305,550.78
    User fees -321,466.47 -321,466.47
    Construction -4,655,047.30 -8,379,316.56 -13,034,363.86
    Salary and other 91,327.08 49,439.51 106,082.73 244,960.10 134,342.35 626,151.77

    Investment income 246,544.58 422,126.82 420,415.81 1,295,701.46 212,686.56 2,597,475.23


    Transfers (maintenance facility) 7,114,701.00 7,114,701.00
    DDA TIF 599,790.00 200,000.00 799,790.00
    DDA parking 171,240.00 171,240.00
    General fund 1,800,000.00 1,800,000.00
    Courts fund 1,100,000.00 1,100,000.00
    insurance/risk fund 2,000,000.00 2,000,000.00

    Bond proceeds 27,472,080.07 27,472,080.07


    Sale fixed asset 23,750.00 23,750.00
    Total rev & transfers per audit 7,961,035.58 593,366.82 444,165.81 33,867,781.53 212,686.56 43,079,036.30

    Prior year balance 7,869,708.50 8,199,704.38 6,437,403.54 32,360,238.63


    Ending fund balance 7,869,708.50 8,199,704.38 6,437,403.54 32,360,238.63 23,072,174.32

    Source: audited financial statements and internal financial statements for 1st 5 months of FY10

    Page 1

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