CITY OF OLEAN, NEW YORK

GENERAL FUND BUDGET

FOR THE 2002-2003 AND 2003-2004 BUDGET YEARS

Increase /

2002-2003

2003-2004

(Decrease)

REVENUES:

Real property taxes

$ 4,037,680

$ 4,078,625

$ 40,945

Special assessment tax - real property

33,000

24,000

(9,000)

Real property tax items

207,000

184,500

(22,500)

Non-property tax items

4,350,000

4,440,000

90,000

Departmental income

809,500

880,500

71,000

Intergovernmental charges

197,152

332,652

135,500

Use of money and property

172,550

85,500

(87,050)

Licenses and permits

81,250

85,000

3,750

Fines and forfeitures

120,000

127,000

7,000

Sales of property and compensation for loss

38,000

47,000

9,000

State aid

1,853,873

1,832,518

(21,355)

Federal aid

85,000

72,500

(12,500)

TOTAL REVENUES

11,985,005

12,189,795

204,790

EXPENDITURES:

General government support

2,298,505

2,388,562

90,057

Public safety

4,955,342

5,071,404

116,062

Health

49,437

65,475

16,038

Transportation

1,184,172

1,240,950

56,778

Economic development

26,250

26,250

-

Culture and recreation

981,326

1,036,245

54,919

Home and community services

82,900

107,400

24,500

Employee benefits

2,034,553

2,202,972

168,419

Debt service:

Principal

21,926

22,147

221

Interest

2,908

2,687

(221)

TOTAL EXPENDITURES

11,637,319

12,164,093

526,774

EXCESS OF REVENUE OVER EXPENDITURES

347,686

25,702

(321,984)

OTHER FINANCING USES

Operating transfers out

(847,686)

(889,202)

(41,516)

TOTAL OTHER FINANCING USES

(847,686)

(889,202)

(41,516)

APPROPRIATED FUND BALANCE

(500,000)

(863,500)

(363,500)