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<br /> PACKET <br />Parking Improvement Fund <br /> Variance Variance <br /> 2005 2006 Budget vs. Budget vs. <br /> Actual Budget Projected Projected $ Projected % <br />Beginning Fund Balance, January 1 $ (148,629) $ (101,738) $ (101,738) <br />Revenues <br />Charges for Services 46,800 - - - 0% <br />Miscellaneous 91 50 187 374% <br />Total Revenues 46,891 50 187 137 374% <br />Expenditures <br />Public Works - - - - 0% <br />Total Expenditures - - - - 0% <br />Excess (Deficiency) of Revenues over Expenditures 46,891 50 187 137 374% <br />Net change in fund balance 46,891 50 187 137 <br />Projected Fund Balance, December 31 $ (101,738) $ (101,688) $ (101,551) $ 137 <br />The negative fund balance is due to the purchase of $140,102 for the Steinbaugh land. A loan of $125,200 was made <br />from the Capital Projects Fund to the Parking Improvement Fund to cover the land costs until fees were collected <br />to payoff the loan. Staff anticipates paying off some of the interfund loan with collections in the fund for the 2007 <br />budget. <br />6/23/i9,ReKET 5 <br />