HomeMy WebLinkAbout08-01464 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
November 30, 2008
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
November 30, 2008
Assets
Cash - Unrestricted'
Cash Reserved For Projects and Operations 2
Total Assets
Liabilities and Fund Balance
Account Payables
Audited Fund Balance FY 2008
Current Year Fiscal Year 2009
Total Liabilities and Fund Balance
Footnotes:
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
11,606,671 25,982,848 37,589,518
Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
11,706,671 26,082,848 37,789,518
11,994,438 26,227,149 38,221, 587
(287,767) (144,301) (432,069)
$ 11,706,671 $ 26,082,848 $ 37,789,518
SEOPW OMNI
100,000 100,000
100,000 100,000
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 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 $7,260,142.00, has been budgeted for this purpose. Of this amount
$6,660,142.00, has been encumbered and $2,402,623.00, has been expended, leaving an available balance of $600,000.
Total Allocated
$ 7,260,142
- Encumbrances (Expended to Date - $2,402,623.00) (6,660,142)
Unrestricted Remaining Balance $ 600,000
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
November 30, 2008
SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2009
FY 2009
FY 2009
FY 2009
FY 2009
FY 2009
AMENDED
AS END
% of
AMENDED
AS END
% of
BUDGET
OF Nov
Budget
Variance
BUDGET
OF Nov
Budget
Variance
SUMMARY
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REVENUES
TAX INCREMENT REVENUES
4,309,075
0.0%
4.309.075
8,925,576
0.0%
8,925,576
CONTRIBUTION GOVTS-COUNTY
2,726.936
0.0%
2,726,936
5,641,910
0.0%
5,641,910
OTHER REVENUES/CARRYOVER FB 2008
15,691,517
32,893
0.2%
15,658,624
25,933,046
0.0%
25,933,046
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TOTAL REVENUES
22,727,528
32,893
0.1%
22,694,635
40,500,532
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0.0%
40,500,532
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EXPENDITURES
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COMMUNITY REDEV EXPENSES
21,870,123
320,660
1.5%
21,549,463
39,643,127
144,301
0.4%
39,498,826
GENERAL GOVERNMENT
757,405
0.0%
757,405
757,405
0.0%
757,405
BUDGET RESERVE
100,000
0.0%
100,000
100,000
100,000
TRANSFER INTO FY 2009
TOTAL EXPENDITURES
22,727,528
320,660
1.4%
22,406,868
40,500,532
144,301
0.4%
40,356,231
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LESS EXPENDITURES
(287,767)
(144,301)
iliENUE
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File: Financial Report - December 2008 Agenda.xls 2 12/2/2008