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SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
JANUARY 31, 2007
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION - ALL FUNDS
2. COMBINED STATEMENT OF REVENUES ANI) EXPENDITURES
•
•
SEOPW CRA and OMNI CRA
Combined Statement of Financial Position
• January 31, 2007
•
Assets
1 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
12,815,631 19,621,246 32,436,877
12,895,631 19,721,246 32,616,877
6,934,714
5,960,917
9,943,481 16,878,195
9,777,765 15,738,682
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
$12,895,631 $ 19,721,246 $32,616,877
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 $746,744 budgeted for this purpose.
1
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended January 31, 2007
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
SOUTHEAST OVERTOWN PARK WEST
FY 2007
REVISED
BUDGET
2.995,835
2,485,388
8,911,500
14,392,723
FY 2007 + FY 2007
AS END
of
OF JAN J Budget
Variance
OMNI
FY 2007
REVISED
BUDGET
FY 2007
AS END
OF JAN
% of
Budget
FY 2007
Variance
2,995,946
2,410,541
890,127
6,296,614
100.0%
97,0°/n
10.0%
43.7%
(111)
74,847
8,021,373
8,096,109
6,221,593
5,443,893
13,370,980
25,036,466
6,221,593
5,288,712
11,510,305
100.0%
97.1 %
0.0%
46.0%
155,181
13, 370, 980
13,526,161
REVENUE LESS EXPENDITURES
10, 490, 003
700,000
3,202,720
14,392,723
335,697
335,697
5,960,917—
File: Financial Report - February 2007 Agenda.xls 2
3.2%
0.0%
0,0%
2.3%
r
10,154,306
700,000
3,202,720
14,057,026
20, 266,145
700,000
4,070,32r
25,036,466
1,732,540
1,732,540
9,777,765
85%
0.0%
6.9%
18,533,605
700,000
4,070,321
23, 303,9 26
2/16/2007