HomeMy WebLinkAboutSEOPW-CRA-2001-02-26-Discussion Item 2•
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SEO/PW FINANCIAL REPORT
AS OF JANUARY 31, 2001
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HIGHLIGHTS
JANUARY 31, 2001
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HIGHLIGHTS
For the Month of January Fiscal Year 2001
Financial Results
For all Funds, revenues currently exceed expenditures by $1.6 million. This is attributed
to a $167K surplus in the General Fund, $617K in the Capital Projects Fund and $830K
in the Special Revenue Fund.
It should be noted that an accrual has been recorded to reflect in excess of $500K due
from the City of Miami as a result of Resolution 00-389. Since this amount has not been
funded, we recorded such amount as an amount due from the City.
Anticipated year end surpluses are estimated to be approximately $2.2 million. Of this
total, $1.7 million is anticipated from the Capital Projects Fund. This surplus resulted
from larger than anticipated fund balance carryover of $1 million and a reduction in
Project related Grants by $385,000 and Salaries by $248,000.
These funds were reprogrammed into additional projects not previously budgeted for this
fiscal year ending 9/30/01.
Currently,the SEO/PW is in a very liquid position with net assets of 3. milli ry q p $ 9 on of
which $3.5 million is actual cash.
Financial Operations
On February 15, 2001, the City of Miami approved the carryover of Community
Development funding for the CRA from prior years. This includes HOME , CLUC 90,
HOWPA and CDBG Funding.
The Annual Audit of the fiscal year ended 9/30/00 financial statements have commenced
and is expected to be completed within 60 days.
The CRA has successfully acquired several properties according to the redevelopment
plan and has commenced construction on several parking lots along the 3rd avenue
corridor in accordance with the redevelopment plan.
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YEAREND OUTLOOK
JANUARY 31, 2001
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MONTHLY FINANCIAL REPORT
For The Month of January Fiscal Year 2001
YEAR-END OUTLOOK
COMMENTARY
General Fund
As noted in the Highlights, The General Fund is reflecting a surplus of approximately
$170K as of January 31, 2001. This surplus is anticipated to be over $600K by fiscal
year end. The year end surplus results primarily from a $600K transfer of the Special
Revenue Fund year end surplus.
The revenue as of January 31, 2001 includes an accrual of $559,522 due from The City of
Miami for an un-funded obligation created by Resolution 00-389. To date this obligation
has not been funded. We are in discussion with The City regarding the resolution of this
issue.
0 Special Revenue Fund
The Special Revenue Fund reflects the financial activity of the Tax Increment Revenues.
As reflected in the Highlights, the Special Revenue Fund reflects a surplus of $830,440 as
of January 31, 2001. This surplus will be transferred to the General Fund by fiscal year
end.
Capital Projects fund
The Capital Projects Fund reflect the financial activity of capital projects and authorized
activities of the CRA. As reflected in the Highlights, the Capital Projects Fund reflect a
surplus of $617,463 as of January 31, 2001. This surplus will be reallocated to other un-
funded projects as of the fiscal year end.
Significant activity will began to be reflected in this fund now that Community
Development's carryover budget has been passed by the City of Miami Commission as of
February 15, 2001. The primary funding for the Capital Projects Fund is administered by
The City of Miami Department of Community Development (CD). Know that CD has
the approval to release funding, they can now approve capital project invoices relating to
ongoing capital projects.
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SEO/PW
REVENUES AND EXPENDITURES BY FUNDS
JANUARY 31, 2001
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SEW Trust Agency •
Year to Date Report - Revenue and Expenditures
Ib As Of January 31, 2001
ALL FUNDS Special Capital Debt
General Revenue Projects Service Total
Revenues
Taxes
918,384
918,384
Interest
22,344
22,344
Rents
36,466
4,594
41,060
Intergovermental Revenue
1,031,686
1,031,686
Carryover Fund Balance
992,463
992,463
Total for Revenue
1,068,152
945,322
992,463
0 3,005,937
ricpenditures
Salaries & Wages
243,402
0
243,402
Fringe Benefits
26,180
0
26,180
Operating Expenses
87,535
87,535
Professional Services
342,265
342,265
Grants in Aid
95,000
375,000
470,000
Capital Outlay
106,165
114,882
0
221,047
Transfers to Other Funds
0
0
Total for Expenditures
900,547
114,882
375,000
0 1,390,429
Revenue Less Expenditures 167,605 830,440 617,463 0 1,615,508
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*SEOPW Trust Agency 9 Y
Year to Date Report -Revenue and Expenditures
As Of January 31, 2001
GENERALFUND
Revenues
Taxes
Interest
Rents
Intergovermental Revenue
Other
Carryover Fund Balance
Total for Revenue
Expenditures
Salaries & Wages
Fringe Benefits
Operating Expenses
Professional Services
Grants in Aid
Capital Outlay
Reserve
Interest Expense
Transfers to Other Funds
Total for Expenditures
Revenue Less Expenditures
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FY 2001 FY 2001
FY 2001 As Of Year End FY 2000
Budget 01/31/01 Projection Variance Actuals
0
0
0
0
0
90,000
0
30,000
(60,000)
0
240,155
36,466
199,398
(40,757)
0
958,488
1,031,686
2,156, 650
1,198,162
1,773,531
150,000
0
0
(150,000)
0
1,460,948
0
730,264
(730,684)
0
2,899,591 1,068,152 3,116,312 216,721 1,773,531
805,668
243,402
630,435
175,233
357,087
212,518
26,180
157,080
55,438
35,707
272,700
87,535
262,605
10,095
158,820
597,884
342,265
550,000
47,884
145,528
0
95,000
95,000
(95,000)
0
502,238
106,165
318,495
183,743
19,155
208,583
208,583
0
0
300,000
300,000
0
0
0
0
0
0
0
2,899,591
900,547
2,522,198
377,393
716,297
0
167,605
594,114
594,114
1,057,234
O SEOPW Trust Agency •
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Year to Date Report - Revenue and Expenditures
As Of January 31, 2001
FY 2001
FY 2001
SPECIAL REVENUE FUND
FY 2001
As Of
Year End
FY 2000
Budget
01/31/01
Projection
Variance
Actuals
Revenues
Taxes
944,862
918,384
918,384
(26,478)
637,288
Interest
0
22,344
67,032
67,032
98,549
Rents
0
4,594
13,782
13,782
(3,220)
Intergovermental Revenue
0
0
0
0
634,438
Other
0
0
0
0
0
Carryover Fund Balance
0
0
540,888
540,888
0
Total for Revenue
944,862
945,322
1,540,086
595,224
1,367,055
Expenditures
Salaries & Wages
0
0
0
0
24,584
Fringe Benefits
0
0
0
0
1,880
Operating Expenses
0
0
0
0
0
Professional Services
229,490
0
0
229,490
0
Grants in Aid
658,772
0
500,000
158,772
0
Capital Outlay
0
114,882
344,646
(344,646)
0
Reserve
0
0
0
0
Interest Expense
56,600
56,600
0
175,979
Transfers to Other Funds
0
0
638,840
(638,840)
1,073 012
Total for Expenditures
944,862
114,882
1,540,086
(595,224)
1,275,455
Revenue Less Expenditures
0
830,440
0
0
91,600
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SEW Trust Agency •
Year to Date Report -Revenue and Expenditures
CO As Of January 31, 2001
FY 2001 FY 2001
CAPITAL PROJECTS FY 2001 As Of Year End FY 2000
Budget 01/31/01 Projection Variance Actuals
Taxes
Interest
Rents
Intergovermental Revenue
Other
Carryover Fund Balance
Total for Revenue
alaries & Wages
Fringe Benefits
Operating Expenses
Professional Services
Grants in Aid
Capital Outlay
Reserve
Interest Expense
Transfers to Other Funds
Total for Expenditures
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,586,966
0
6,586,966
0
859,848
2,000,000
0
2,000,000
0
.0
0
992,463
992,463
992,463
0
8,586,966
992,463
9,579,429
992,463
859,848
248,000
0
0
248,000
108,104
0
0
0
0
8,264
183,966
0
183,966
0
9,409
3,027,000
0
3,000,000
27,000
126,252
760,000
375,000
375,000
385,000
0
4,008,000
0
5,660,463
(1,652,463)
275,617
360,000
0
360,000
0
0
0
0
0
0-
0
0
0
0
0
0
8,586,966
375,000
9,579,429
(992,463)
527,646
0 617,463 0 0 332,202
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SEO/PW
EXPLANATION OF PROJECT VARIANCES
JANUARY 31, 2001
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4 EXPLANATION OF PROJECTED VARIANCES
GENERAL FUND
Revenue
Interest (down) S 60,000 - The pooled cash balance on which interest was estimated for purposes of the
budget has been re -appropriated to the Capital Projects and the Special Revenue Funds. Accordingly, the
computed interest will be so allocated.
Inter -governmental Revenue (up) $1,198,162 — This variance is due to the following anticipated
transfers not reflected in the budget.
CDBG Prior Years Overhead Allocation $ 379,000
City of Miami Reso. 00-389 559,522
Transfer of Surplus from Special Revenue Fund 638,604
Other (down) $150,000 — The CRA budgeted revenue from permitting fees from various development
activities. These fees will not materialize during this fiscal yearend.
Carryover Fund Balance (down) $730,684 — The fund balance carryover reflects a reduction since the
budget reflected all of the funds carryover amount in the General Fund. In the actual financial statements,
the overall fund balance carryover is reflected in all of the funds as is appropriate.
Expenditures
Salaries and Fringe Benefits (down) $230,671 — This decrease is primarily due to an overall effort by the
Executive Director to streamline the operations of the Agency to help insure that maximum resources go
towards the redevelopment plan of the CRA.
SPECIAL REVENUE FUND
Carryover Fund Balance (up) $540,888 — The fund balance carryover reflects a increase since the budget
for the General Fund reflected all of the funds carryover amounts as opposed to allocating the appropriate
amounts to the various funds. In the actual financial statements, the overall fund balance carryover is
reflected in all of the funds as is appropriate. This funds year end balance reflects that funds allocated
• carryover amount.
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Professional Services (down) $229,490 — All professional services are being funded from the General
Fund and the Capital Projects Fund. Special Revenue Fund surplus will be transferred -to the General Fund
for usage.
Capital Outlay (up) $344,646 — This increase resulted from the need to start capital projects with out the
adequate timely allocation of CDBG funds. It is anticipated that at some time in the future, these funds
advanced for capital projects will be reimbursed from CDBG funds.
APITAL PROJECTS
Carryover Fund Balance (up) $992,463 — The fund balance carryover reflects a increase since the budget
for the General Fund reflected all of the funds carryover amounts as opposed to allocating the appropriate
amounts to the various funds. In the actual financial statements, the overall fund balance carryover is
reflected in all of the funds as is appropriate. This funds year end balance reflects that funds allocated
carryover amount
Salaries and Waees (down) $248,000 — All salary and wages will be funded from the General Fund.
Grants in Aid (down) $385,000 — The planned grants related to the TCOTA project has been reduced to
$375,000. No additional funding is anticipated to be provided this fiscal year.
Capital Outlay (up) $1,652,463 - The planned capital outlay is increased the additional fund balance
carryover allocation and the reprogramming of the Grant monies. There exist over $8,000,000 in un-
funded projects. These additional dollars are being reprogrammed to address these funding needs.
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SEO/PW
CAPITAL PROJECT FINANCIALUPDATE
JANUARY 31, 2001
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Financial Uudate
Proiect Funds as of January 31.200
Staff is currently developing monthly financial reporting on all Capital Project Funds.
All projects and activities have been separated into primary funding sources. These
funding sources are being set up by separate and distinct index codes. This would allow
for all expenditures relating to projects and activities to be classified and reported by
project number and index funding source.
After the City Commission meeting on February 15, 2001, all CRA budgets will be
properly loaded by the now established index codes referred to above.
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SEO/PW
BALANCESHEET
JANUARY 31, 2001
SEOP*Trust Agency
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Financial Report - Combining Balance Sheet
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As Of January 31, 2001
Special
Capital
Debt
General
Revenue
Projects
Service
Total
Assets
Cash and investments
524,420
1,779,455
604,019
2,907,894
Cash with Fiscal Agents
554,148
554,148
Accounts Receivable
-
-
Due From Other Governments 559,522
559,522
Interest Receivable
15,329
15,329
Total Assets
1,083,942
1,794,784
604,019
554,148
4,036,893
Liabilities and Fund Balance
Liabilities
Accounts Payable
116,564
-
116,564
Total Liabilities
116,564
-
-
-
116,564
d Balances
Restricted Fund Balance
554,148
554,148
Undesignted
967,378
1,794,784
604,019
3,366,181
Total Fund Balances
967,378
1,794,784
604,019
554,148
3,920,329
Total Liabilities and Fund Balance 1,083,942
1,794,784
604,019
554,148
4,036,893
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SEO/PW
ANALYSIS OF CASH & INVESTMENTS
JANUARY 31, 2001
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SEOPW COMMUNITY REDEVELOPMENT AGENCY
roDEPARTMENT OF FINANCE
CASH POSITION FOR ALL FUNDS
AS OF JANUARY 31, 2001
As of January 31, 2001 the CRA had a balance of cash in the bank of $ 2,907,894. This balance
of cash represents funds that are restricted, encumbered and appropriated along with other funds
that are available for general operations of the CRA.
Of the total balance of cash in the bank, the following amounts are restricted and cannot be used
for General Fund operations:
Debt Service of $554,148. Debt Service funds represents those dollars that are required
by debt convent to be set aside to pay interest and principal on bonds outstanding.
Capital projects of $604,019. Capital Projects represents those dollars that have been
appropriated for specific capital construction projects.
Bond Proceeds of $2,000,000 has been reserved for the purchase or construction of a
Office Building for the CRA and as of January 31, 2001 is being reflected in The City of
Miami restricted cash account.
In addition, some of the cash in the bank is already "encumbered". Encumbered funds
represent those funds that have been set aside to pay outstanding invoices. The amount
encumbered as of January 31, 2001 is $116,564.
As of January 31, 2001 the unencumbered cash balance in the General Fund is $407,856
and in the Special Revenue TIF Fund is $1,779,455.
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COMMUNITY REDEVELOPMENT AGENCY
roINVESTMENT PORTFOLIO
FY 00-01
The Investment Portfolio, as of January 31, 2001, conforms to the City of Miami's
Adopted Investment Policy.
The investment portfolio is comprised of the following:
Investment % of Portfolio Yield
US Treasury 30.41% 5.691%
US Instruments/ Agency 49.82% 5.894
Commercial paper 19.77 6.703
The rate of return as of January 31, 2001 was 5.911%
The largest portion of the portfolio, 49.82%, is invested in US Federal Instruments,
which are comprised of US Government Agencies including FHLB, FHLMC,
FNMA, and FFCB.
Monthly yields for FY 00 are as follows
Month Yield% YTD Yield%
October 2000
November 2000
December 2000
January 2001
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OMNI FINANCIAL REPORT
AS OF JANUARY 31, 2001
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YEAREND OUTLOOK
JANUARY 31, 2001
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OMNI
MONTHLY FINANCIAL REPORT
For The Month of January Fiscal Year 2001
YEAR-END OUTLOOK
COMMENTARY
Special Revenue Fund
The Special Revenue Fund reflects the financial activity of the Tax Increment Revenues.
As noted in the Highlights, The Special Revenue Fund is reflecting a surplus of
approximately $2.9 million as of January 31, 2001. This surplus is anticipated to be
completely utilized by fiscal year end. The current surplus results primarily TIF monies
yet to be transferred to the County and from fund balance carryover yet to be disbursed
for capital projects.
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OMNI
REVENUES AND EXPENDITURES BY FUNDS
JANUARY 31, 2001
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OrmI Trust Agency
Year to Date Report - Revenue and Expenditures
ro As Of January 31, 2001
A[ I m imnS
Revenues
Taxes
Interest
Rents
Intergovermental Revenue
Carryover Fund Balance
Special Capital Debt
General Revenue Projects Service Total
1,017,744 1,017,744
14,766 14,766
0 0 0
0 0
0 0
Total for Revenue
0
1,032,510
0 0 1,032,510
(Oenditures
Salaries & Wages
0
11,403
11,403
Fringe Benefits
0
664
664
Operating Expenses
0
0
Professional Services
0
0
Grants in Aid
0
0 0
Capital Outlay
0
0
0 0
Transfers to Other Funds
0
0
0
Total for Expenditures 0 12,067 0 0 12,067
Revenue Less Expenditures 0 1,020,443 0 0 1,020,443
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® OMNI Trust Agency •
9 Y
Year to Date Report -Revenue and Expenditures
As Of January 31, 2001
SPECIAL REVENUE FUND
Revenues
Taxes
Interest
Rents
Intergovermental Revenue
Other
Carryover Fund Balance
Total for Revenue
Expenditures
Salaries & Wages
Fringe Benefits
Operating Expenses
Professional Services
Grants in Aid
Capital Outlay
Reserve
Interest Expense
Transfers to Other Funds
Total for Expenditures
FY 2001 FY 2001
FY 2001 As Of. Year End FY 2000
Budget 01/31/01 Projection Variance Actuals
1,027,467
1,017,744
1,017,744
(9,723)
1,103,023
25,000
14,766
44,298
19,298
97,334
0
0
0
0
0
663,895
663,895
663,895
0
0
0
0
0
0
0
150,000
1,204,783
1,204,783
1,054,783
0
1,866,362 2,901,188 2,930,720 1,064,358 1,200,357
63,496
11,403
68,418
(4,922)
37,505
4,857
664
3,984
873
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
663,895
0
1,704,349
(1,040,454)
101,455
106,647
79,625
27,022
0
0
56,600
(56,600)
0
1,027,467
0
1,017,744
9,723
1,103,023
1,866,362 12,067 2,930,720 (1,064,358) 1,241,983
Revenue Less Expenditures 0 2,889,121 0 0 (41,626)
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OMNI
EXPLANATION OF PROJECT VARIANCES
JANUARY 31, 2001
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14 EXPLANATION OF PROJECTED VARIANCES
PECIAL REVENUE FUNS
Carryover Fund Balance (up) $1,054,783 — The fund balance carryover reflects a
increase since the budgeted amount assumed a certain level of activity during the prior
fiscal year in which substantial amounts of the carryover fund balance would have been
utilized. This did not occur. Therefore, substantial dollars remained as unused fund
balances. It is anticipated that 100% of this balance will be utilized on the Margaret Pace
Park project this fiscal year.
Capital Outlay (up) $1,704,349 — This increase resulted from the increased activity at
Margaret Pace Park not completed as planned during the prior fiscal year. The activity
will be funded from un-utilized fund balance carryover.
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OMNI
CAPITAL PROJECT FINANCIALUPDATE
JANUARY 31, 2001
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OMNI - Financial Update
Capital Proiect Funds as of January 31.2001
Staff is currently developing monthly financial reporting on all Capital Project Funds.
All projects and activities have been separated into primary funding sources. These
funding sources are being set up by separate and distinct index codes. This would allow
for all expenditures relating to projects and activities to be classified and reported by
project number and index funding source.
After the City Commission meeting on Februay 15, 2001, all CRA budgets will be
properly loaded by the now established index codes referred to above.
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OMNI
BALANCESHEET
JANUARY 31, 2001
r•
Assets
OMNOrust Agency
Financial Report - Combining Balance Sheet
As Of January 31, 2001
Cash and investments
Cash with Fiscal Agents
Accounts Receivable
Due From Other Governments
Interest Receivable
Total Assets
Liabilities and Fund Balance
Liabilities
Accounts Payable
Total Liabilities
�ifd Balances
Restricted Fund Balance
Undesignted
Total Fund Balances
Total Liabilities and Fund Balance
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Special Capital Debt
General Revenue Projects Service
Total
- 926,598 - -
926,598
- 624,295 - -
624,295
- 663,895 - -
663,895
- 10,438 - -
10,438
2,225,226 - - 2,225,226
2,225,226 - 2,225,226
2,225,226 - - 2,225,226
2,225,226 - - 2,225,226
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OMNI
ANALYSIS OF CASH & INVESTMENTS
JANUARY 31, 2001
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OMNI COMMUNITY REDEVELOPMENT AGENCY
ro DEPARTMENT OF FINANCE
CASH POSITION FOR ALL FUNDS
AS OF JANUARY 31, 2001
0
As of January 31, 2001 the CRA had a balance of cash in the bank of $ 926,598. This balance of
cash represents funds that are restricted, encumbered and appropriated along with other funds that
are available for general operations of the CRA.
Of the total balance of cash in the bank, none are restricted and cannot be used for General Fund
operations. All cash is reflected in the Special Revenue Fund.
())-M- C4.WLIWed
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OMNI -COMMUNITY REDEVELOPMENT AGENCY
GGO INVESTMENT PORTFOLIO
FY 00-01
The Investment Portfolio, as of January 31, 2001, conforms to the City of Miami's
Adopted Investment, Policy.
The investment portfolio is comprised of the following:
Investment % of Portfolio Yield
US Treasury 30.41 % 5.691 %
US Instruments/ Agency 49.82% 5.894
Commercial paper 19.77 6.703
The rate of return as of January 31, 2001 was 5.911 %
The largest portion of the portfolio, 49.82%, is invested in US Federal Instruments,
which are comprised of US Government Agencies including FHLB, FHLMC,
re
FNMA, and FFCB.
Monthly yields for FY 00 are as follows
Month Yield% IYTD Yield%
October 2000
November 2000
December 2000
January 2001
(is
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CITY OF MIAMI OMNI COMMUNITY REDEVELOPMENT AGENCY,
OMNI REDEVELOPMENT AGENCY
COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA
Combined Balance Sheet
Governmental Fund Types and Account Groups
September 30, 2000
Governmental Fund Types
9
Special Debt Capital
Assets and Other Debits General revenue service project
Assets:
Equity in pooled cash
Due from other fund
Due from primary and other governments
Note receivable
Reserve for note receivable
Interest receivable
Restricted cash
Fixed assets
Other debits:
Amount available in debt service — special
obligation bonds and loans
Amount to be provided for retirement of
special obligation bonds and loans
Total assets and other debits
$ — 533,566 — —
663,895 — —
7,322 — —
$ — 1,204,783 — —
Liabilities, Fund Balances and Other Credits
Liabilities:
Accounts payable and accrued liabilities
Due to other fund — — — —
Due to other governments — — — —
Deposits — — — —
Debt service payment payable — — — —
Interest payable — — — —
Special obligation bonds and loans — — — —
Totalliabilities — — — —
Fund balances and other credits:
Investment in general fixed assets — — — —
Fund balances:
Reserved for debt service — — —
Unreserved:
Designated for future capital projects — — — —
Undesignated — 1,204,783 — —
Total fund balance and other credits — 1,204,783 — —
Total liabilities, fund balances and other credits $ — 1,204,783 — —
See accompanying notes to combined financial statements.
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DRAFT
CITY OF NIIAMI
PARK WEST REDEVELOPMENT AGENCY,
COMPONENT UNITS OF THE CITY OF NIIAMI, FLORIDA
Combined Statement of Revenue, Expenditures and
Changes in Fund Balances
All Governmental Fund Types
Fiscal year ended September 30, 2000
Governmental Fund Types
Special Debt
Capital
General revenue service
project
Revenue:
Tax increment S — 1,103,023 —
—
Remittance to Miami -Dade County, Florida — (1,103,023) —
—
Net — — —
—
State of Florida revenue sharing — — —
—
Parking lease — — —
—
Rental — — —
—
Interest — 97,334 —
—
Total revenue — 97,334 —
—
Expenditures:
Current:
_General government — 37,505 —
—
Debt service:
— —
Principal —
—
Interest — — —
—
Capital outlay — — —
101,455
Total expenditures — 37,505 —
101,455
Excess (deficiency) of revenue over (under)
expenditures — 59,829 —
(10I,455)
Other financing sources (uses):
Operating transfers in — — —
101,455
Operating transfers out — (101,455) —
—
Operating transfers in from primary government — — —
—
Total other financing sources (uses) — (101,455) —
101,455
Excess (deficiency) of revenue and other
financing sources over (under) expenditures
and other financing uses — (41,626) —
—
Fund balances (deficit), beginning of year, as restated — 1,693,588 —
—
Equity transfers in (out) — (447,179) —
—
Fund balances, end of year $ — 1,204,783 —
—
See accompanying notes to combined financial statements.
•
000W.4mewl
4
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•
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CITY OF NIIAMI
OMNI REDEVELOPMENT AGENCY
COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA
Combining Balance Sheet
Special Revenue Funds
September 30, 2000
Omni
Redevelopment
Assets
District
Equity in pooled cash
$ 533,566
Due -from other funds
—
Due from other governments
663,895
Note receivable
—
Reserve for note receivable
—
Interest receivable
7,322
Total assets
$ 1,204,783
Liabilities and Fund Balances
Liabilities:
Due to other governments
$ —
Total liabilities
—
Fund balances:
Unreserved
Total liabilities and
fund balances
1,204,783
$ 1,204,783
CITY OF MIAMI
OMNI REDEVELOPMENT AGENCY
COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA
Combining Statement of Revenue, Expenditures and
Changes in Fund Balances
Special Revenue Funds
Fiscal year ended September 30, 2000
Omni
Redevelopment
District
Revenue:
Tax increment $ 1,103,023
Remittance to Miami -Dade County, Florida (1,103,023)
Net —
State of Florida revenue sharing —
Parking lease —
Rental —
Interest 97,334
Total revenue 97334
Expenditures:
0
Current.
General government
37,505
Debt service:
Principal
Interest
Capital outlay
101,455
Total expenditures
138,960
Excess (deficiency) of revenue over
(under) expenditures
(41,626)
Operating transfers out
—
Total other financing uses
—
Excess of revenue over other
financing uses
(41,626)
Fund balances, beginning of year, as restated
1,693,588
Equity transfers out
(447,179)
Fund balances, end of year
$ 1,204,783
0
CITY OF MIAMI
SOUTHEAST OVERTOWN PARKWEST REDEVELOPMENT AGENCY
is
COMPONENT UNITS OF THE CITY OF MIAMI, FLORIDA
Combined Balance Sheet
Governmental Fund Types and Account Groups
September 30, 2000
GovernmeAtal Fund Types
Special Debt
Capital
Assets and Other Debits General
revenue service
project
Assets:
Equity in pooled cash $ 761,094
952,124 —
3,286,816
Due from other fund —
— —
—
Due from primary and other governments 559,522
* — —
—
Note receivable —
65,000 —
—
Reserve for note receivable —
(65,000) —
—
Interest receivable —
12,220 —
—
Restricted cash —
— —
—
Fixed assets
Other debits:
Amount available in debt service — special
obligation bonds and loans —
— —
—
Amount to be provided for retirement of
special obligation bonds and loans —
— _
—
Total assets and other debits $ 1,320,616
964,344
3,286,816
Liabilities, Fund Balances and Other Credits
Liabilities:
Accounts payable and accrued liabilities
$ 30,830 —
— 297,353
Due to other fund
— —
— 765,350
Due to other governments
— —
— —
Deposits
— —
— —
Debt service payment payable
— —
— —
Interest payable
— —
— —
Special obligation bonds and loans
— —
—
Total liabilities
30,830 —
— 1,062,703
Fund balances and other credits:
Investment in general fixed assets
— —
— —
Fund balances:
Reserved for debt service
— —
— —
Unreserved:
Designated for future capital projects
— —
— 2,224,113
Undesignated
1,289,786 964,344
— —
Total fund balance and other credits
1,289,786 964,344
— 2,224,113
Total liabilities, fund balances and other credits
$ 1,320,616 964,344
— 3,296,816
See accompanying notes to combined financial statements.
* - Amount repersents the agreed upon amount due from the City of Miami in resolution 00-389.
This receivable is currently being addressed by the Finance department of the City of Miami.
Final resolution has not been reach regarding the ultimate transfer of funds from the City to the CRA. D.1-0c�%Co'-J
•
CITY OF MIAMI
SOUTHEAST OVERTOWN PARKWEST REDEVELOPMENT AGENCY
COMPONENT UNITS OF THE CITY OF MIAMI, FLORIDA
Combined Statement of Revenue, Expenditures and
Changes in Fund Balances
All Governmental Fund Types
Fiscal year ended September 30, 2000
Revenue:
Tax increment
Remittance to Miami -Dade County, Florida
Net
State of Florida revenue sharing
Parking lease
Rental
Interest
Other
Total revenue
Expenditures:
Current:
General government
Debt service:
Principal
Interest
Capital outlay
Total expenditures
Excess (deficiency) of revenue over (under)
expenditures .
Other financing sources (uses):
Operating transfers in
Operating transfers out
Operating transfers in from primary government
Total other financing sources (uses)
Excess (deficiency) of revenue and other
financing sources over (under) expenditures
and other financing uses
Fund balances (deficit), beginning of year, as restated
Equity transfers in (out)
Fund balances, end of year
Governmental Fund Types
Special Debt Capital
General revenue service project
$ — 637,288 — —
637,288 — —
(9,375) — —
6,155 — —
98,549 — —
634,439 (634,439)
1,367,056 (634,439) —
716,297 26,464 — 252,029
175,979 731,816 -
- — — 275,617
716,297 202,443 731,816 527,646
(716,297) 1,164,613 (1,366,255) (527,646)
214,602 — — 858,409
— (1,073,011) — —
1,558,929 * — — 1,439
1,773,531 (1,073,011) — 859,848
1,057,234 91,602 (1,366,255) 332,202
232,552 1,073,011 — 1,891,911
— (200,268) 1,366,255 —
$ 1,289,786 964,345 — 2,224,113
See accompanying notes to combined financial statements.
* - Amount includes $559,522 agreed as an amount due from the City of Miami per resolution 00-389.
This receivable is currently being addressed by the Finance department of the City of Miami.
Final resolution has not been reached regarding the ultimate transfer of funds from the City to the CRA.
•
•
CITY OF MIAMI
SOUTHEAST OVERTOWN PARKWEST REDEVELOPMENT AGENCY
COMPONENT UNITS OF THE CITY OF MIAMI, FLORIDA
Combining Balance Sheet
Special Revenue Funds
September 30, 2000
Southeast
Overtown/
Park West
Redevelopment
Assets
District
Equity in pooled cash
$ 952,124
Due from other funds
—
Due from other governments
—
Note receivable
65,000
Reserve for note receivable
(65,000)
Interest receivable
12,220
Total assets
$ 964,344
Liabilities and Fund Balances
Liabilities:
Due to other governments
$ —
Total liabilities
—
Fund balances:
Unreserved
964,344
Total liabilities and
fund balances
$ . 964,344
•
e
0
•
CITY OF MIAMI
0 SOUTHEAST OVERTOWN PARKWEST REDEVELOPMENT AGENCY
COMPONENT UNIT OF THE CITY OF MIAMI, FLORIDA
Combining Statement of Revenue,_ Expenditures and
Changes in Fund Balances
Special Revenue Funds
Fiscal year ended September 30, 2000
Southeast
Overtown/
Park West
Redevelopment
District
Revenue:
Tax increment $
637,288
Remittance to Miami -Dade County, Florida
—
Net
637,288
State of Florida revenue sharing
—
Parking lease
(9,375)
Rental
6,155
Interest
98,549
Other
634,439
Total revenue
1,367,056
Expenditure:
General Government
Debt Service
Total Expenditure
Other financing uses:
Operating transfers out
Total other financing uses
Excess of revenue over other
financing uses
Fund balances, beginning of year, as restated
Equity transfers out
Equity transfers in
Fund balances, end of year
26,464
175,979
202,443
(1,073,011)
(1,073,011)
91,602
1,073,011
(458,459)
258,191
$ 964,345