HomeMy WebLinkAbout09-00108 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
January 31, 2009
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
January 31, 2009
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
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
19,345,715 39,781,483 59,127,198
19,445,715 39,881,483 59,327,198
11,994,438 26,227,149 38, 221,587
7,451,277 13,654,334 21,105,611
$ 19,445,715 $ 39,881,483 $ 59,327,198
Footnotes:
Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
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 $8,410,608, has been budgeted for this purpose. Of this amount $7,612,683.00,
has been encumbered and $2,593,126.00, has been expended, leaving an available balance of $797,925.
Total Allocated
$ 8,410,608
- Encumbrances (Expended to Date - $2,593,126.00) (7,612,683)
Unrestricted Remaining Balance $ 797,925
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
January 31, 2009
SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2009
FY 2009
FY 2009
FY 2009
FY 2009
FY 2009
APPROVED
AS END
'/ of
APPROVED
AS END
% of
BUDGET
OF Dec
Budget
Variance
BUDGET
OF Dec
Budget
Variance
SUMMARY
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REVENUES
TAX INCREMENT REVENUES
4,309,075
4,309,075
100.0%
-
8,925,576
8,925,576
100.0%
-
CONTRIBUTION GOVTS-COUNTY
2,705,822
2,705,822
100.0%
-
5,597,328
5,597,328
100.0%
-
OTHER REVENUES/CARRYOVER FB 2008
13,971,490
2,163,411
15,5%
11,808,079
26,237,167
0.0%
26,237,167
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TOTAL REVENUES
20,986,387
9,178,308
43.7%
11,808,079
40,760,071
14,522,904
35,6%
26,237,167
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EXPENDITURES
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COMMUNITY REDEV EXPENSES
20,130,037
1,727,031
8.6%
18,403,006
39,903,721
868,570
2.2%
39,035,151
GENERAL GOVERNMENT
756,350
0.0%
756,350
756,350
0.0%
756,350
BUDGET RESERVE
100,000
0,0%
100,000
100,000
100,000
TRANSFER INTO FY 2009
TOTAL EXPENDITURES
20,986,387
1,727,031
8,2%
19,259,356
40,760,071
868,574
2.1%
39,891,501
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LESS EXPENDITURES
7,451,277
13,654,334
AVENUE
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Fite: Financial Report - February 2009 Agenda.xls 2 2/11/2009