CITY OF BURLINGTON
CAPITAL PROJECTS TAX INCREMENTAL DISTRICT NO. 4 FUND
BUDGET FOR THE YEAR 2008
Anticipated Proposed Proposed Proposed
Actual Budget Actual Budget Actual Budget Budget Budget
2005 2006 2006 2007 2007 2008 2009 2010
 Revenues 
464-414111-000  General Property Taxes (1)   $  #######  $  #######  $          537,129  $   $   $          660,999 [1] $         674,219  $          687,703
 Municipal Property Taxes          211,604 [2]         211,604
 Non-Municipal Property Taxes          384,984 [3]         382,756
464-424239-000  Exempt Computer Aid      2,705     2,700             2,588             2,500             2,500             3,977             3,977             3,977
464-484810-000  Loan Reimbursements (2)    31,282   14,040                     -           14,040           14,040           14,040           14,040           14,040
 Sale of Property (4)  #######             -                     -           99,000           99,000           99,000           99,000           99,000
 Miscellaneous              -             -                     -                     -                     -                     -                     -                     -
 Rents              -             -                     -                     -                     -                     -                     -                     -
464-484812-000  Interest Income on Loans    11,595     7,544           29,165             6,842             6,843             6,140             5,400 [4]             4,750
464-484811-000  Interest Income on Cash Balance      7,700   13,500             8,076             1,135             1,100               (858)             2,000             2,000
 Total Revenues  ####### #######         576,959         720,105         717,842         783,297         798,635         123,767
 Expenditures 
 Public Works     
 Street Outlay              -             -           75,000 [5]                     -                     -                     -                     -                     -
 Conservation and Development 
464-565642-499      Economic Development (4)    81,783   75,000             6,217 [6]             9,900           10,000             9,900             9,900 9900
Interest on General Fund Advances   11,720             -                     -                     -                     -                     -                     -                     -
     Total Expenditures    93,503   75,000           81,217             9,900           10,000             9,900             9,900             9,900
 Excess Revenues Over (Under) Expenditures  ####### #######         495,742         710,205         707,842         773,397         788,735         113,867
 Other Financing Sources (Uses) 
464-595920-399  Operating Transfers Out (3)  ####### #######        (281,573)            (210,800)        (210,800)        (330,192)          (217,215)        (259,246)
 Operating Transfers Out - General Fund  #######             -          (29,901)[7]                     -                     -                     -                     -                     -
464-595922-000  Operating Transfer Out - TID 3  ####### #######        (430,000)        (430,000)        (430,000)        (430,000)        (430,000)        (430,000)
 Total Other Financing Sources (Uses)  ####### #######        (741,474)        (640,800)        (640,800)        (760,192)        (647,215)        (689,246)
 Excess Revenues and Other Financing 
 Sources Over (Under) Expenditures and 
Other Financing Uses ####### #######        (245,732)           69,405           67,042           13,205         141,520        (575,380)
 Fund Balance - January 1  ####### #######         161,522          (84,210)          (84,210)          (17,168)            (3,963)         137,558
 Fund Balance - December 31   $  #######  $   (46,406)  $           (84,210)  $           (14,805)  $           (17,168)  $             (3,963)  $          137,558  $         (437,822)
(1) Assumptions are in agreement with study performed by intern and construction in BMOP
(2) Loan Reimbursements are for industrial lot sales in the BMOP.
 (3) Transfers from TID #4 to the Original Debt Service Fund to pay off TID #4 debts. 
 (4) This anticipates the sale of 6 acres in the BMOP both for an income and a real estate sales fee. Economic development expenses will also incur reimbursements to developers for infrastructure. 
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[1]
 :
equalized value multipled by the sum of the interim rate from the (Tax) TID calculation sheet
[2]
 :
Interim tax rate x the equalized value of personal and real property.
[3]
 :
Interim tax rate x the equalized value of personal and real property.
[4]
 :
2009 is not a calculated.
[5]
 :
TIF 4 phase 1 Development
[6]
 :
This is the purchase of land for TIF 4 and the contract services in relation
[7]
 :
We did not budget for this amount, but there was remaining loan to General Fund for for starting up the TIDs still on the books end of 2005.  So per Dave Knabel & I we decided we have the funds available to pay this loan down.