HomeMy WebLinkAbout07-01461 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
October 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
October 31, 2007
Assets
1 Cash - Unrestricted
2 Cash Reserved For Projects and Operations
Total Assets
Liabilities and Fund Balance
Account Payables
Unaudited Fund Balance - FY 2007
Current Year Fiscal Year 2008
Total Liabilities and Fund Balance
SEOPW OMNI Total
$ 115,000 $ 92,414 $ 207,414
13,116,862 18,551,652 31,668,513
13,231,862 18,644,066 31,875,927
13,231,862 18,644,066 31,875,927
$13,231,862 $ 18,644,066 $31,875,927
Footnotes:
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
SEOPW OMNI
115,000 92,414
115,000 92,414
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 October 31, 2007
_ SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2008
FY 2008
FY 2008
FY 2008
FY 2008
FY 2008
APPROVED
AS END
% of
APPROVED
AS END
% of
BUDGET
OF Oct
Budget
Variance
BUDGET
OF Oct
Budget
Variance
SUMMARY
REVENUES
TAX INCREMENT REVENUES
3,407,794
0.0%
3,407,794
7,049,571
0,0%
7,049,571
CONTRIBUTION GOVTS-COUNTY
2.228,086
0.0%
2,228,086
4,652,245
0.0%
4,652,245
OTHER REVENUES/CARRYOVER FB 2006
10,553,047
498,840
4.73/o
10,054,207
15,396,283
11,833
0.1%
15,384,450
TOTAL REVENUES
16,188,927
498,840
3.1%
15,690,087
27,098,099
_
11,833
0.0%
27,086,266
EXPENDITURES
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COMMUNITY REDEV EXPENSES
15,373,927
498,840
3.2%
14,875,087
26,305,685
11,833
0.0%
26.293,852
GENERAL GOVERNMENT
700,000
0.0%
700,000
700,000
0,0%
700,000
BUDGET RESERVE
115,000
0.0%
115.000
92,414
92,414
TOTAL EXPENDITURES
16,188,927
498,840
3.1%
15,690,087
27,098,099
11,833
0.0%
27,086,266
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REVENUE LESS EXPENDITURES
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File: Financial Report - November 2007 Agenda.xis 2 11/20/2007