HomeMy WebLinkAbout08-00547 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
APRIL 30, 2008
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION - ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
•
SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
April 30, 2008
SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2008
FY 2008
FY 2008
FY 2008
FY 2008
FY 2008
AMENDED
AS END
% of
AMENDED
AS END
% of
BUDGET
OF Apr
Budget
Variance
BUDGET
OF Apr
Budget
Variance
SUMMARY
REVENUES
TAX INCREMENT REVENUES
3,568.307
3,568,307
100.0%
7,444,383
7,444,383
100.0%
-
CONTRIBUTION GOVTS-COUNTY
2,228,137
2.443,950
109.7%
(215.813)
4,652,351
4,652,351
100.0%
-
OTHER REVENUES/CARRYOVER FB 2006
12,346,049
660,476
5.3%
11,685.573
18,760,532
568,095
3.0%
18,192,437
TOTAL REVENUES
18,142,493
6,672,733
36.8%
11,469,760
30,857,266
12,664,829
41.0%
18,192,437
I
EXPENDITURES
COMMUNITY REDEV EXPENSES
17,327,493
3,893,115
22.5%
13,434,378
29,523,118
5,347,651
18.1%
24,175,467
GENERAL GOVERNMENT
700,000
0.0%
700.000
700,000
0.0%
700,000
BUDGET RESERVE
115,000
0.0%
115,000
634,148
634,148
TOTAL EXPENDITURES
18,142,493
3,893,115
21.5%
14,249,378
30,857,266
5,347,651
17.3%
25,509,615
I I
REVENUE LESS EXPENDITURES
2,779,618
7,317,178
I 1
Fite: Financial Report -May 2008 Agenda.xls 2 5/9/2008
•
•
SEOPW CRA and OMNI CRA
Combined Statement of Financial Position
April 30, 2008
Assets
Cash - Unrestricted'
Cash Reserved For Projects and Operations 2
Total Assets
Liabilities and Fund. Balance
Account Payables
Audited Fund Balance - FY 2007
Current Year Fiscal Year 2008
Total Liabilities and Fund Balance
SEOPW OMNI Total
$ 115,000 $ 493,060 $ 608,060
15,349,465 25,674,233 41,023,698
15,464,465 26,167,293 41,631,758
12,684,847 18,850,115 31,534,962
2,779,618 7,317,178 10,096,796
$ 15,464,465 $ 26,167,293 $ 41,631,758
Footnotes:
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
SEOPW OMNI
115,000 493,060
115,000 493,060
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-08-0045,
passed and adopted on October 30, 2006, the SEOPW CRA has committed to budget $30 million in TIF revenue over a
period of five years for the rehabilitation and construction of low income, affordable, and workforce housing in the SEOPW
Community Redevelopment Area. To date $4,519,693, has been budgeted for this purpose. Of this amount $2,386,269, has
been encumbered and $1,047,565, has been expended, leaving an available balance of $2,133,424.
Total Allocated
$ 4,519,693
- Encumbrances (Expended to Date - $1,047,565) (2,386,269)
Unrestricted Remaining Balance $ 2,133,424
1