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Exhibit C-3 <br />CITY OF RAMSEY <br />Economic Development Authority Special Revenue Fund <br />Statement of Revenue, Expenditures, and Changes in Fund Balance <br />Budget and Actual (GAAP Basis) <br />Year Ended December 31, 2001 <br />(with Comparative Actual Amounts for Year Ended December 31, 2000) <br />2001 2000 <br />Over <br />(Under) <br />Budget Actual Budget <br />Actual <br />Revenue <br />Other revenue <br />Investment earnings $ 10,000 $ 15,515 $ 5,515 $ 20,961 <br />Miscellaneous 500 6,906 6,406 1,183 <br />Total revenue 10,500 22,421 11,921 22,144 <br />Expenditures <br />Current <br />General government 86,458 93,413 6,955 54,563 <br />Capital outlay 249,705 248,190 (1,515) - <br />Total expenditures 336,163 341,603 5,440 54,563 <br />Excess (deficiency) of <br />revenue over expenditures <br />(325,663) (319,182) 6,481 (32,419) <br />Other financing sources (uses) <br />Proceeds from sale of fixed assets 375,000 375,000 <br />Operating transfers (out) (658) (658) - (679) <br />Total other financing sources (uses) 374,342 374,342 - (679) <br />Excess (deficiency) of revenue and <br />other financing sources over <br />expenditures and other fmancing uses $ 48,679 55,160 $ 6,481 (33,098) <br />Fund balance <br />Beginning of year 220,864 253,962 <br />End of year $ 276,024 $ 220,864 <br />-52- <br />