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HomeMy WebLinkAbout05-01560 Financial SummarySOUTHEAST OVERTOWN PARKWEST AND OMNI COMMUNITY REDEVELOPMENT AGENCIES FINANCIAL REPORT DECEMBER 31, 2005 ATTACHMENTS 1. COMBINED STATEMENT OF FINANCIAL POSITION - ALL FUNDS 2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES SEOPW CRA and OMNI CRA Combined Statement of Financial Positions December 31, 2005 Assets 1 Cash - Unrestricted 2 Cash related to Operating Activities 3 Cash related to Reserves and Other Accounts Total Assets Liabilities and Fund Balance Account Payables Audited Fund Balance - FY 2005 Current Year Total Liabilities and Fund Balance Footnotes: SEOPW OMNI Total $ 576,042 294,625 4,668,422 5,539,089 $ 795,914 2,205,758 7,954,577 10,956,249 $ 1,371,956 2,500,383 12,622,999 16,495,338 1 Cash - Unrestricted This represents unspent income carried forward from year to year. Available TIF funds Available from Bayview Tower land Sale Available from JEJ Parking Lot (P-5) Mortgage Payoff 4,393,969 7,613,012 12,006,981 1,145,120 3,343,237 4,488,357 $ 5,539,089 $ 10,956,249 $16,495,338 SEOPW OMNI 29,298 795,914 505,000 41,744 576,042 795,914 2 Cash related to Operating Activities This represents cash set aside for payment of projects awaiting for Board's approval and other community redevelopment/general administrative purposes to ensure continuity of operations. 3 Cash related to Reserves and Other Accounts This portion of cash includes reserves and other accounts authorized by the Board for specific purposes. 1 SEOPW CRA and OMNI CRA Combined Statement of Revenues and Expenditures for the period ended December 31, 2005 SOUTHEAST OVERTOWN PARK WEST OMNI FY 2006 FY 2006 FY 2006 FY 2006 FY 2006 FY 2006 REVISED AS END % of REVISED AS END % of BUDGET OF SEPT Budget Variance BUDGET OF SEPT Budget Variance SUMMARY I REVENUES TAX INCREMENT REVENUES 2,495,666 0.0% 2,495,666 5,372,708 0.0% 5,372,708 CONTRIBUTION GOVTS-COUNTY 1,714,153 1,714,153 100.0% - 3,689,181 3,689,181 100.0% - OTHER REVENUES 4,111,500 6,738 0.2% 4,104,762 7,021,500 7,670 0.1% 7,013,830 TOTAL REVENUES 8,321,319 1,720,891 20.7% 6,600,428 16,083,389 3,696,851 23.0% 12,386,538 I EXPENDITURES I COMMUNITY REDEV EXPENSES 7,548,763 575,771 7.6% 6,972,992 ` 14,287,475 353,613 2.5% 13,933,862 GENERAL GOVERNMENT 196,514 0.0% 196,514 1,000,000 0.0% 1,000,000 BUDGET RESERVE 576,042 0.0% 576,042 795,914 795,914 TOTAL EXPENDITURES 8,321,319 575,771 6.9% 7,745,548 16,083,389 353,613 2.2% 15,729,776 I I REVENUE LESS EXPENDITURES 1,145,120 3,343,237 I I File: Financial Report - January 2006 Agenda.xls 2 1/12/2006