HomeMy WebLinkAbout07-01026 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
August 31, 2007
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
August 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
12,997,019 18,580,113 31,577,132
13,077,019 18,680,113 31,757,132
6,934,714
6,142,305
9,943,481 16, 878,195
8,736,632 14,878,937
$13,077,019 $ 18,680,113 $31,757,132
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, $80,185.50 have been expended for this purpose out of the $746,744 budgeted for these specific
projects.
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended August 31, 2007
SOUTHEAST OVERTOWN PARK WEST
OMNI
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
REVENUE LESS EXPENDITURES
FY 2007
AS END
OF August
2,995,835
2,410,541
2,582,212
! 7,988,588
t 1 1 1,346,283
500,000
1,846,283
6,142,306
FY 2007
% of
Budget
100.0%
100.0%
29.7%
56.7%
10.1%
71.4%
0.0%
13.1%
Variance
6,102,874
6,102,763
11,965,068
200,000
80,000
12,245,068
FY 2007
AS END
OF August
6,221,593
5,288,712
511,443
12,021,748
2,785,117
500,000
3,285,117
8,736,631
FY 2007
% of
Budget
100.0%
100.0%
5.1%
56.0%
13.5%
71.4%
15.3%
Variance
9,453,538
9,453,538
17,890,169
200,000.
100,000
18,190,169
File: Financial Report - September 24 2007 Agenda.xls 2 9/18/2007