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SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
March 31, 2097
ATTACHMENTS
1. 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 Financial Position
March 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
12,582,115 16,864,401 29,446,516
12,662,115 16,964,401 29,626,516
6,934,714
5,727,401
9,943,481 16,878,195
7,020,920 12,748,321
1 Cash - Unrestricted
This represents unspent income carried forward from year to year,
Available TIF funds
2 Cash Reserved For Projects and Operations
$12,662,115 $ 16,964,401 $29,626,516
SEOPW OMNI
80,000 100,000
80,000 100,000
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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SEOPW CRA and OMNII CRA
Combined Statement of Revenues and Expenditures
for the period ended March 31, 2007
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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 MAR
Budget
Variance
BUDGET
OF MAR
Budget
Variance
SUMMARY
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REVENUES
TAX INCREMENT REVENUES
2,995,835
2,995,835
100.0%
-
6.221,593
6,221,593
100.0%
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CONTRIBUTION GOVTS-COUNTY
2,485,388
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
1,707,904
19.2%
7,203.596
13,370,980
0.0%
13,370,980
TOTAL REVENUES
14,392,723
7,114,280
49.4%
7,278,443
25,036,466
11,510,305
46.0%
13,526,161
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EXPENDITURES
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COMMUNTY REDEV EXPENSES
10,490,003
686.579
6.5%
9,803,124
20,266.145
3,789,385
18.75,
16,476,760
GENERAL GOVERNMENT
700,000
700,000
100.0%
-
700,000
700,000
100.0%
-
BUDGET RESERVE
3,202,720
0.0%
3,202.720
4,070,32f
4,070.321
TOTAL EXPENDITURES
14,392,723
1,386,879
9.6%
13,005,844
25,036,466
4,489,385
17,9%
20,547,081
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REVENUE LESS EXPENDITURES
5,727,401
7,020,920
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File: Financial Report - March 2007 Agenda.xls 2 4/23/2007