HomeMy WebLinkAbout06-02289 Financial SummarySOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
December 31, 2006
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 Position
December 31, 2006
Assets
Cash - Unrestricted
2 Cash Reserved For Projects and Operations
Total Assets
Liabilities and Fund Balance
Account Payables
Audited Fund Balance - FY 2006
Current Year Fiscal Year 2007
Total Liabilities and Fund Balance
Footnotes:
SEOPW OMNI Total
$ 80,000 $ 100,000 $ 180,000
9,146,102 13,435,977 22,582,079
9,226,102 13,535,977 22,762,079
6,934,714
2,291,388
8,307,783 15,242,497
5,228,194 7,519,582
1 Cash - unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
$ 9,226,102 $ 13,535,977 $22,762,079
SEOPW OMNI
80,000 100,000
80,000 100,000
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 the next five years for the rehabilitation and construction of
low income, affordable, and workforce housing in the Overtown Community Redevelopment Area. As of this
date, this line item includes $546,744 budgeted for this purpose.
1
SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended December 31, 2006
SUMMARY
REVENUES
TAX INCREMENT REVENUES
CONTRIBUTION GOVTS-COUNTY
OTHER REVENUES/CARRYOVER FB 2006
TOTAL REVENUES
EXPENDITURES
COMMUNITY REDEV EXPENSES
GENERAL GOVERNMENT
BUDGET RESERVE
TOTAL EXPENDITURES
I I
REVENUE LESS EXPENDITURES
SOUTHEAST OVERTOWN PARK WEST
FY 2007
FY 2007
FY 2007
REVISED
AS END
% of
BUDGET
OF DEC
Budget
Variance
2,995,835
0.0%
2,995,835
2,485,388
2,410,541
97.0%
74,847
8,911,500
0.0%
8,911,500
14,392,723
2,410,541
16.7%
11,982,182
10,490,003
119,153
1.1%
10,370,850
700,000
0.0%
700,000
3,202.720
0.0%
3,202,720
14,392,723
119,153
0.8%
14,273,570
2,291,388
F
R
B
2
2
2
OMNI
Y 2007
FY 2007
FY 2007
iVISED
AS END
% of
1DGET
OF DEC
Budget
Variance
3,221,593
0.0%
6,221,593
3,443,893
5,288,712
97.1%
155,181
3,370,980
0.0%
13,370,980
5,036,466
_ 5,288,712
21.1%
19,747,754
}.266.145
60,518
0.3%
. 20,205,627
700,000
0.0%
700,000
4,070,321
4,070,321
i,036,466
60,518
0.2%
24,975,948
5, 228,194
File: Financial Report - January 29 2007 Agenda.xls.xls 2 1/20/2007