HomeMy WebLinkAbout07-00330 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
February 28, 2007
ATTACHMENTS
I. COMBINED STATEMENT OF FINANCIAL POSITION — ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended February 28, 2007
SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2007
FY 2007
FY 2007
FY 2007
FY 2007
FY 2007
REVISED
AS END
% of
REVISED
AS END
% of
BUDGET
OF FEB
Budget
Variance
BUDGET
OF FEB
Budget
Variance
SUMMARY
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REVENUES
I
TAX INCREMENT REVENUES
2,995,835
2.995,835
100.0%
-
6.221,593
6,221,593
100.0%
-
CONTRIBUTION GOVTS-COUNTY
2,485,38E
2.410,541
97.0%
74,847
5,443,893
5,288,712
97.1%
155,181
OTHER REVENUES/CARRYOVER FB 2006
8,911.500
890,127
10.0%
8.021,373
13,370,980
0.0%
13,370,980
TOTAL REVENUES
14,392,723
6,296,503
43.7%
8,096,220
25,036,466
11,510,345
46.0%
13,526,161
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EXPENDITURES
COMMUNITY REDEV EXPENSES
10,490.003
494,385
4.7%
9,995,618
20,266,145
2,117,713
10.4%
18.148,432
GENERAL GOVERNMENT
700.000
700,000
100.0%
-
700,000
700.000
100.0%
-
BUDGET RESERVE
3,202,720
0.0%
3,242,720
4,070,321
4,070,321
TOTAL EXPENDITURES
14,392,723
1,194,385
8.3%
13,198,338
25,036,466
2,817,713
11.3%
22,218,753
I I
REVENUE LESS EXPENDITURES
5,102,118
8,692,592
I I
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File: Financial Report - March 2007 Agenda.xls 2 3/8/2007
SEOPW CRA and OMNI CRA
Combined Statement of Financial Position
February 28, 2007
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:
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SEOPW OMNI Total
$ 80,000 $ 100,000 $ 180,000
11,956,832 18,536,073 30,492,905
12,036,832 18,636,073 30,672,905
6,934,714
5,102,118
9,943,481 16,878,195
8,692,592 13,794,710
$12,036,832 $ 18,636,073 $30,672,905
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
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, $24,000 have been expended for this purpose out of the $746,744 budgeted for these specific projects.
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