HomeMy WebLinkAbout10-00313 Financial Report 3-15-2010SOUTHEAST OVERTOWN PARKWEST
COMMUNITY REDEVELOPMENT AGENCY
FINANCIAL REPORT
February 28, 2010
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION — ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
SEOPW CRA
Combined Statement of Financial Position
February 28, 2010
Assets
Cash - Unrestricted
Cash Reserved For Projects and Operations 2
Total Assets
Liabilities and Fund Balance
Account Payables
Audited Fund Balance FY 2009
Current Year Fiscal Year 2010
Total Liabilities and Fund Balance
Footnotes:
SEOPW
$ 100,000
25,111,762
25,211, 762
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TlF funds
16,483,835
8,727,927
$ 25,211,762
SEOPW
100,000
100,000
2 Cash - Reserved For Projects and Operations
This portion of cash includes reserves authorized by the Board for specific uses.
These include specific projects and general administrative expenses to ensure
continuity of operations. Additionally, pursuant to Resolution Number CRA-R-06-
0045, passed and adopted on October 30, 2006, the SEOPW CRA has committed
to budget $30 million in TIF revenue over a period of five years for the rehabilitation
and construction of low income, affordable, and workforce housing in the SEOPW
Community Redevelopment Area. To date $15,116,303, has been budgeted for this
purpose. Of this amount $10,612,683, has been encumbered and $3,216,945, has
been expended, leaving an available balance of $4,503,620.
Total Allocated
- Encumbrances (Expended to Date • $3,218,945)
$ 15,116,303
(10,612,683)
Unrestricted Remaining Balance 5 4,503,620
SEOPW CRA
Combined Statement of Revenues and Expenditures
for the period ended
February 28, 2010
SOUTHEAST OVER TOWN PARK WEST
FY 2010
FY 2010
FY 2010
APPROVED
AS END
% of
BUDGET
OF Feb
Budget
Variance
S U M M ARY
r
REVENUES
TAX INCREMENT REVENUES
4.309,075
6,270,444
145.5%
(1,961,369)
CONTRIBUTION GOVTS-COUNTY
2,705,822
3,955.532
146.2%
(1,249,710)
OTHER REVENUESICARRYOVER FB 2009
-
17,812,840;
641,691
3.6%
17,171,149
i 1
TOTAL REVENUES
24,327,737
10,867,667
43.8%
13,960,070
4
EXPENDITURES
1
COMMUNITY REDEV EXPENSES
24,044,236
2.139.740
8.9%
21,904,496
GENERAL GOVERNMENT
,883,501
0.0%
683,501
BUDGET RESERVE
100.0013
0.0%
100.000
TRANSFER INTO FY 2010
TOTAL EXPENDITURES
24,827,737
t 2,139,740
8.6%
22,687,997
! I
REVENUE LESS EXPENDITURES
8,727,927
i
File: SEOPW Financia Report - February 2010 Agenda Preser+ d on 3-15-2010.xis 3,5/2010