HomeMy WebLinkAbout10-00606 Financial Summary 05-13-2010SOUTHEAST OVERTOWN PARK`VEST
COMMUNITY REDEVELOPMENT AGENCY
FINANCIAL REPORT
April 30, 2010
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION - ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
SEOPW CRA
Combined Statement of Financial Position
April 30, 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
25,404,965
25,504,965
Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
16,483,835
9,021,130
$ 25,504,965
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 $14,291,033, has been budgeted for this
purpose. Of this amount $10,627,658, has been encumbered and $3,280,460, has
been expended, leaving an available balance of $3,663,375.
Total Allocated $ 14,291,033
- Encumbrances (Expended to Date - $3,280,460) (10,627,658)
Unrestricted Remaining Balance $ 3,663,375
SEOPW CRA
Combined Statement of Revenues and Expenditures
for the period ended
April 30, 2010
SOU 1 HEAST OVER I OWN PARK WES r
FY 2010
FY 2010
FY 2010
APPROVED/
AMENDED
AS END
% of
BUDGET
OF Apr
Budget
Variance
SUMMARY
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REVENUES
TAX INCREMENT REVENUES
6,270,714I
6,270,444
100.0%
270
CONTRIBUTION GOVTS-COUNTY
3,955,5321
4,410,239
111.5%
(454,707)
OTHER REVENUES/CARRYOVER FB 2009
17,095,681 i
642,561
3.8%
16,453,120
1
-
TOTAL REVENUES
27,321,9271
11,323,244
41.4%
15,998,683
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EXPENDITURES
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1
l
COMMUNITY REDEV EXPENSES
26,399,5431
2,302,114
8.7%
24,097,429
GENERAL GOVERNMENT
822,384I
0.0%
822,384
BUDGET RESERVE
100,0001
0.0%
100,000
TRANSFER INTO FY 2010
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TOTAL EXPENDITURES
27,321,927 1
2,302,114
8.4%
25,019,813
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REVENUE LESS EXPENDITURES
i 9,021,130
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2 5/6/2010