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HomeMy WebLinkAbout05-00227 Financial SummarySOUTHEAST OVERTOWN PARKWEST AND OMNI COMMUNITY REDEVELOPMENT AGENCIES FINANCIAL REPORT FEBRUARY 28, 2005 ATTACHMENTS 1. COMBINED STATEMENT OF FINANCIAL POSITION - ALL FUNDS 2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES SOUTHEAST OVERTOWN PARKWEST (SEOPW) AND OMNI COMMUNITY REDEVELOPMENT AGENCIES COMBINED STATEMENT OF FINANCIAL POSITIONS FEBRUARY 28, 2005 ASSETS SEOPW OMNI GENERAL COMBINED Cash - Unrestricted 75,000 2,000,000 2,075,000 Cash - Reserve - Administration 379,768 855,314 560,071 1,795,153 Cash - Reserve Project Account 4,100,000 5,226,293 9,326,293 Cash - Reserve Bond Series 1990 361,239 361,239 Cash - Reserve for Long Term Debt (Grand 350,000 350,000 Central) - $1.7 millions due in 2008 Cash - Reserve for Performing Art Center 1,430,000 1,430,000 TOTAL ASSETS 5,266,007 9,511,608 560,071 15,337,685 LIABILITIES AND FUND BALANCE Account Payables Audited Fund Balance - FY 2004 2,822,882 3,475,557 846,026 7,144,465 Current Year 2,443,125 6,036,051 (285,955) 8,193,221 TOTAL LIABILITIES AND FUND BALANCE 5,266,007 9,511,608 560,071 15,337,685 1 The City of Miami, Florida Community Redevelopment Agency Monthly Financial Consolidated Revenue/Expenditures - Project As of February 28, 2005 SOUTHEAST OVERTOWN PARK WEST OMNI GENERAL OPERATING CRA TOTALS ''. : FY 2005: ' •'.• FY 2005 FY 2005 FY:2005 -.:-' FY 2005 FY 2005 : ; :FY 2005 •- FY 2005 FY 2005 -- FY:2005 • FY 2005 FY 2005 •'':..-REVISEia;.;- AS END % of --REVISED.,:' AS END % of i_.REVISED • AS END %oI ._'• REVISED' -:. AS END % of - : BUDGET.::,::. OF FEB Budget Variance ., BUDGET:::- OF FEB Budget Variance : .BUDGET, • OF FEB Budget Variance ,. BUDGET OF FEB Budget Valiance SUMMARY REVENUES TAX INCREMENT REVENUES .,1,627.940� 1,627,94D 100,0%� - 3,920;483� 3,920,483 100.0% - -• - - - S,S46423� 5,548,423 100% - CONTRIBUTION GOVTS-COUNTY - .1,196,954 1,18B,848 99,3% 8,106 :- . 2.294,3213 • 2,281,562 99.4% 12,766 - --- -- - . - - >•-..:1491;282. 3.470,410 99% 20,672 OTHER REVENUES . - . 13,001,960- 16,459 0.1% 12,985,501 -: 2,974,445- 8,603 0.3% 2,965,842 • 2,313,002. 246,339 10.7% 2,066,663 -•••:.: 18,289,407' 271,401 1% 18 016.006 TOTAL REVENUES 15,826,854: 2,833,247 17.9% 12,993,607 9;189,256: 6,210,648 67.6% 2,978,606 2,313,002, 246,339 10.7% 2,066,663 -- 27,329,112, 9,290,234 34% 18,038,878 ,. ........... ..... .:. EXPENDITURES PERSONNEL SERVICES - -. - - - 984,081 373,481 38,0% 610,600 984,081'. 373.481 38% 610,600 OPERATING EXPENSES : 1.165,431 221,897 19-0% 943,534 .616,200i 127,643 20.7% 488,557 • •'659.843 • 151,494 23.0% 508,149 2,441274 501,034 21% 1,940,240 CAPITAL PROJECTS :..3,112,427- 112,115 3.6% 3,000,312 - - 4,300,000 - 0.0% 4,300,000 . 8,000 932 15.5% 5,068 �. :. 7,418,427= 113,047 2% 7,305,380 GRANTS AND AIDS - ` 303,163' 310 0,1% 302,853 584,504: 46,954 8.0% 537,550 .------ - - --,:.887,667. 47,264 5% 840,403 NON OPERATING 11,245,833 55,600 0,5% 11,190,033 3,688,552: - 0.0% 3,688,552 : 683,27B 6,387 1.0% 656,891 -'•15,597,663'. 62,167 0% 15,535,476 TOTAL EXPENDITURES .:15,626,854• 390,122 2.5% 14,410,916 9189,256: 174,597 1.9% 8,665,842 .:. 2,313,002: 532,294 23,0% 1,890,083 27,329,112: 1,097,013 4% 24,966,842 REVENUE LESS EXPENDITURES 2,443,125 6,036,051 (285,955) 6,193,221 { I ,,. File: Financial Report - March 2005 Agenda.xls 2 3/9/2005 Community Redevelopment Agency South East Overlown Park Monthly Financial - Budget vs. Actual Revenue/Expenditures - Project As of February 28, 2005 FY 2005 REVISED BUDGET Ene FY 2005 AS END % o1 OF Feb Budget Variance SEOPW - Ord 10039 Revenues 01 TAXES 100 CURRENT AD VALOREM TAXES 001 TAXES REAL CURRENT 1,627,940 1,627,940 100.0% 03 INTERGOVERNMENTAL REVENUE 377 ECONOMIC ENVIRONMENT 310 CONTR FROM OTHER GOVTS-COUNTY 1,196,954 1,188,848 99.3% 8,106 383 OTHER PAYMENTS FROM LOCAL UNIT 235 OFF-STREET PARKING 8,000 8,000 04 CHARGES FOR SERVICES 438 HOUSING 264 PROPERTY SALE 06 MISCELLANEOUS REVENUE 601 INTEREST INCLUDING PROFIT ON I 094 INTEREST ON INVESTMENT 25,000 34,864 139.5% (9,864) 264 PROPERY SALE 10,462,460 10,462,460 379 INTEREST INCOME -OTHER 302 (302) 749 GAIN/LOSS INVESTMENTS 1,500 (26,827) (17.88) 28,327 607 RENT AND ROYALTIES 070 RENTAL PROPERTIES 3,000 7,668 2.56 (4,668) 08 NON -REVENUES 801 INTERFUND TRANSFER 140 TRANSFER FROM COMMUNITY DEVELO - 244 CARRYOVER FUND BALANCE 2,500,000 2,500,000 807 OTHER NON -REVENUES 990 OTHER NON -OPERATING 2,000 452.40 22-6% 1,548 TOTAL REVENUES 15,826,854 2,833,246.81 17.9% 12,993,507 Expenditures 10 PERSONNEL SERVICES 100 SALARIES & WAGES -FIXED 010 SALARIES - UNCLASSIFIED 200 FRINGE BENEFITS -FIXED 100 SOCIAL SECURITY CONTRIB 30 OPERATING EXPENSES 300 OPERATING EXPENSES -FIXED - 280 PROFESSIONAL SERVICES - ACCTG 25,000 31,006 124.0% (6,006) 602 INTEREST EXPENSE 60,000 60,000 400 OPERATING EXPENSES VARIABLE - 220 PROFESSIONAL SERVICES-APPRAI 40,000 1,350 12,500 31.3% 26,150 250 PROFESSIONAL SERVICES - LEGAL 150,002 73,159 76,844 51.2% (0) 270 PROFESSIONAL SERVICES - OTHER 731,675 235,703 60,566 8.3% 435,406 340 OTHER CONTRACTUAL SERVICES - 0 158,754 88,384 40,981 25,8% 29,389 760 BOOKS PUBLICATIONS MEMBERSHIPS - 60 CAPITAL OUTLAY - 500 CAPITAL OUTLAY VARIABLE 810 LAND - 860 CONSTRUCTION IN PROGRESS 3,112,427 539,713 112,115 3.6% 2,460,599 80 GRANTS AND AIDS - 600 GRANTS IN AID - 940 OTHER GRANTS AND AIDS 303,163 19,674 310 0.1 % 283,179 90 NON -OPERATING - 600 TRANSFERS TO OTHER FUNDS - 951 CONTRUTRANSFER TO DEBT SERVIC 55,800 (55,800) 956 CONTRIBUTION TO SPECIAL REVENU 513,195 0.0% 513,195 950 CONTRIBUTION TO GRAL FUND - 960 CONTRIBUTION TO TRUST & AGENCY - - 990 OTHER NON -OPERATING 10,462,460 0.0% 10,462,460 996 BUDGET RESERVE 270,178 0.0% 270,178 TOTAL EXPENDITURES REVENUE LESS EXPENDITURES 16,826,854 957,983 390,t22 2.5% 14,478,749 2,443,125 2 Community Redevelopment Agency Omni Tax Increment Fund Interlocal Monthly Financial - Budget vs. Actual Revenue/Expenditures - Project As of February 28, 2005 OMNI TAX INCREMENT FUND FY 2005 FY 2005 REVISED AS END % of BUDGET Ene OF Feb Budget Variance Revenues 01 TAXES 100 CURRENT AD VALOREM TAXES 001 TAXES REAL CURRENT 3,920,483 3,920,483 03 INTERGOVERNMENTAL REVENUE 377 ECONOMIC ENVIRONMENT 310 CONTR FROM OTHER GOVTS-COUNTY 2,294,328 2,281,562 99.4% 12,766 04 CHARGES FOR SERVICES 311 MAJOR DESC. NOT FOUND 754 CRA FUND T/OUT SEOPW 06 MISCELLANEOUS REVENUE 601 INTEREST INCLUDING PROFIT ON I 094 INTEREST ON INVESTMENT 40,000 51,720 129.3% (11,720) 244 CARRYOVER FUND BALANCE 2,932,945 2,932,945 749 GA1N/LOSS INVESTMENTS 1,500 (43,117) (28.74) 44,617 TOTAL REVENUES 9,189,256 6,210,648 67.6% 2,978,608 Expenditures 10 PERSONNEL SERVICES 100 SALARIES & WAGES -FIXED 010 SALARIES - UNCLASSIFIED 200 FRINGE BENEFITS -FIXED 100 SOCIAL SECURITY CONTRIB 30 OPERATING EXPENSES 300 OPERATING EXPENSES -FIXED 280 PROFESSIONAL SERVICES -ACCTG 25,000 11,506 46.0% 13,494 287 ADVERTISING 470 ENTERTAINMENT 400 OPERATING EXPENSES -VARIABLE 230 PROFESSIONAL SERVICES - ARCHIT - 250 PROFESSIONAL SERVICES - LEGAL 60,000 24,250 9,082 15.1% 26,668 270 PROFESSIONAL SERVICES - OTHER 531,200 323,417 107,055 20.2% 100,729 340 OTHER CONTRACTUAL SERVICES - 0 - 680 PRINTING/BINDING - OUTSIDE 690 PROMOTIONAL ACTIVITIES 760 BOOKS PUBLICATIONS MEMBERSHIPS 60 CAPITAL OUTLAY 500 CAPITAL OUTLAY -VARIABLE - 860 CONSTRUCTION IN PROGRESS 4,300,000 0.0% 4,300,000 80 GRANTS AND AIDS - 600 GRANTS IN AID 940 OTHER GRANTS AND AIDS 584,504 1,151 46,954 8.0% 536,400 90 NON -OPERATING - 600 TRANSFERS TO OTHER FUNDS 951 CONTRVTRANSFER TO DEBT SERVIC 952 CONTRIBUTION TO CAP PROJECTS - 996 BUDGET RESERVE 1,118,133 0.0% 1,118,133 956 CONTRIBUTION TO SPECIAL 1,140,419 0.0% 1,140,419 700 PRIOR YEARS APPROPRIATION 905 INTERGOVERNMENTAL CHARGES 1,430,000 3.3% 1,430,000 TOTAL EXPENDITURES 9,189,256 348,817 174,597 1.9% 8,665,842 REVENUE LESS EXPENDITURES 6,036,051 3 Community Redevelopment Agency General Operating Monthly Financial - Budget vs. Actual Revenue/Expenditures - Project As of February 28, 2005 GENERAL OPERATING FY 2005 FY 2005 REVISED AS END % of BUDGET Enc OF Feb Budget Variance Revenues 06 MISCELLANEOUS REVENUE 601 INTEREST INCLUDING PROFIT ON I 094 INTEREST ON INVESTMENT 139 REIMB. PR. YR. EXPEND. 244 CARRYOVER FUND BALANCE 749 GA1NILOSS INVESTMENTS 607 RENT AND ROYALTIES 070 RENTAL PROPERTIES 26,543 (26,543) 08 NON -REVENUES 801 INTERFUND TRANSFER 140 TRANSFER FROM COMMUNITY DEVELO 143 MISCELLANEOUS REVENUE 736 CONTR. FRM. OFFSTR. PARKING 905 MAJOR DESC. NOT FOUND 193 CONTRIBUTION FROM GN.FD. 659,388 219,796 33.3% 439,592 09 INTERNAL SERVICE FUNDS 905 CONTRIBUTION FROM OTHER FUNDS 356 CONTRIBUTION FROM TRUST AND AG 1,653,614 1,653,614 TOTAL REVENUES 2,313,002 246,339 10.7% 2,066,663 Expenditures 10 PERSONNEL SERVICES 100 SALARIES & WAGES -FIXED 001 SALARIES - CLASS. PERM. FT 147,000 43,010 29.3% 103,990 006 EARNED TIME PAYOFF 96,000 47,778 48,222 010 SALARIES - UNCLASSIFIED 407,000 220,235 54.1% 186,765 013 SALARIES -TEMPORARY 90,500 12,630 - 77,870 200 FRINGE BENEFITS -FIXED 080 EXPENSE ALLOWANCE 18,000 1,770 9.8% 16,230 083 CAR ALLOWANCE 12,000 4,246 35.4% 7,754 100 SOCIAL SECURITY CONTRIB 85,000 19,894 23.4% 65,106 110 RETIREMENT CONTRIB. 52,281 - 13,369 - 38,912 130 GROUP INSURANCE CONTRIB. 45,000 19,155 10,354 23.0% 15,490 150 WORKER'S COMPENSATION - 160 UNEMPLOYMENT COMPENSATION 6,300 6,300 170 SEVERANCE PAY - 180 TUITION REIMBURSEMENT 25,000 195 0.0 24,805 30 OPERATING EXPENSES - 300 OPERATING EXPENSES -FIXED 280 PROFESSIONAL SERVICES - ACCTG - - 287 ADVERTISING 30,000 22,382 74.6% 7,618 410 TRAVEL AND PER DIEM - TRAINING - 420 TRAVEL AND PER DIEM - OTHER 40,000 830 2.1% 39,170 470 ENTERTAINMENT - 495 PARKING EXPENSE - 533 POSTAGE 1,000 119 11.9% 881 540 UTILITY SERVICES 14,000 301 2.2% 13,699 560 UTILITY SERVICES - WATER - 610 RENT OF EQUIPMENT - OUTSIDE 45,000 512 4,170 9.3% 40.318 620 RENT BUILDINGS 160,388 78,994 66,338 41.4% 15,056 635 RENT OTHERS - 710 FOOD 13,600 297 795 5.8% 12,509 715 MOTOR FUEL 800 17 0.0 783 400 OPERATING EXPENSES -VARIABLE - 230 PROFESSIONAL SERVICES - ARCHIT 250 PROFESSIONAL SERVICES - LEGAL • Community Redevelopment Agency General Operating Monthly Financial - Budget vs. Actual Revenue/Expenditures - Project As of February 28, 2005 FY 2005 FY 2005 REVISED AS END 6/. of BUDGET Enc OF Feb Budget Variance 270 PROFESSIONAL SERVICES - OTHER 231,000 14,211 6.2% 216,789 289 SPECIAL SERVICES - MISCELLANEO 38,000 35,000 92.1% 3,000 330 TAXES 340 OTHER CONTRACTUAL SERVICES - O 13,085 5,501 3,255 24.9% 4,329 510 COMMUNICATIONS SERV. TELEPH. 0 10,770 1,315 2,206 20.5% 7,248 534 DELIVERY SERVICES 2,000 846 70 3.5% 1,084 650 INSURANCE - LIABILITY 40,000 25 0.1% 39,975 670 REPAIR/MAINTENANCE - OUTSIDE 5,000 192 3.8% 4,808 680 PRINTING/BINDING - OUTSIDE (76) 76 590 PROMOTIONAL ACTIVITIES 700 OFFICE SUPPLIES 6,000 1,171 1,325 22.1% 3,504 722 MISCELLANEOUS SUPPLIES 2,000 0.0% 2,000 760 BOOKS PUBLICATIONS MEMBERSHIPS 7,000 332 4.7% 6,668 60 CAPITAL OUTLAY 500 CAPITAL OUTLAY -VARIABLE 810 LAND 840 EQUIPMENT - NEW 841 OFFICE FURNITURE - NEW 6,000 932 5,068 843 EQUIPMENT LEASE -PURCHASED 860 CONSTRUCTION IN PROGRESS 880 CAPITAL LEASES 80 GRANTS AND AIDS 600 GRANTS IN AID 940 OTHER GRANTS AND AIDS 946 REHABILITATION GRANT AWARDS 90 NON -OPERATING 600 TRANSFERS TO OTHER FUNDS 950 CONTRIBUTION TO GRAL FUND 956 CONTRIBUTION TO SPECIAL REVENU 700 PRIOR YEAR'S APPROPRIATION 901 PERSONAL SERVICES - 996 BUDGET RESERVE 628,276 628.278 903 MATERIALS AND SUPPLIES 35,000 1,584 6,387 18,2% 27,030 TOTAL EXPENDITURES 2,313,002 109,375 532,294 23.0% 1,671,333 REVENUE LESS EXPENDITURES (285,95S)