HomeMy WebLinkAbout09-00327 Financial SummarySEOPW CRA and OMNI CRA
Combined Statement of Financial Position
February 28, 2009
•
SEOPW OMNI Total
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:
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
$ 100,000 $ 100,000 $ 200,000
19,126,776 40,405,667 59,532,444
19,226,776 40,505,667 59,732,444
11,994,438 26,227,149 38,221,587
7,232,338 14,278,518 21,510,856
$ 19,226,776 $ 40,505.667 $ 59,732,444
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 $8,478,963, has been budgeted for this purpose. Of this amount $7,612,683.00,
has been encumbered and $2,632,684.00, has been expended, leaving an available balance of $866,280.
Total Allocated
•
$ 8,478,963
- Encumbrances (Expended to Date - $2,632,684.00) (7,612,b83)
Unrestricted Remaining Balance $ 866,280
SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
February 28, 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 Feb
budget
Variance
BUDGET
OF Feb
Budget
Variance
SUMMARY
_
REVENUES
TAX INCREMENT REVENUES
4,309,075
4,309,075
100.0%
-
8,925,576
8,925.576
100.05
-
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
2,537,191
18.25,
11,434.299
26,237,167
702,815
2.7%
25,534,352
TOTAL REVENUES
20,986,387
9,552,088
45.5%
11,434,299
40,760,071
15,225,719
37.4%
25,534,352
EXPENDITURES
COMMUNITY REDEV EXPENSES
20.130,037
2,319,750
11.5%
17.810,287
39,903,721
947,201
2.4%
38,956,520
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
2,319,750
11.1%
18,666,637
40,760,071
947,201
-
2.3%
39,812,870
REVENUE LESS EXPENDITURES
7,232,338
14,278,518
III
File: Financial Report - March 2009 Agenda.xls 2 3/20/2009