HomeMy WebLinkAbout09-00375 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
March 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
March 31, 2009
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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
19,073,178 33,996,960 53,070,137
19,173,178 34,096,960 53,270,137
11,994,438 26,227,149 38,221,587
7,178,740 7,869,811 15,048,550
$ 19,173,178 $ 34,096,960 $ 53,270,137
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Footnotes:
1 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 $8,549,823, has been budgeted for this purpose. Of this amount $7,612,683.00,
has been encumbered and $2,638,440, has been expended, leaving an available balance of $937,140.
Total Allocated
- Encumbrances (Expended to Date - $2,638,440)
8,549,823
(7,612,683)
Unrestricted Remaining Balance $ 937,140
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
arch 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 Feb
Budget 4
Variance
BUDGET
OF Feb
Budget
Variance
SUMMARY
REVENUES
TAX INCREMENT REVENUES
4,309,075
4,309,075
100.0%
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8,925,576
8,925,576
100.0%
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CONTRIBUTION GOVTS-COUNTY
2,705,822
2,705,822
100.0%
-
5,597,328
5,597,328
100.0%
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OTHER REVENUES/CARRYOVER FB 2008
13,971,490
2.152,407
15.4%
11,819,083
26,237,167
947,243
3.6%
25,289,924
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TOTAL REVENUES
20,986,387
9,167,304
43.7%
11,819,083
40,760,071
15,470,147
38.0%
25,289,924
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EXPENDITURES
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COMMUNITY REDEV EXPENSES
20,130,037
1,988.564
9.9%
18,141,473
39,903,721
7,600,336
19.0%
32,303,385
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
1,988,564
9.5%
18,997,823
40,760,071
7,600,336
18.6%1
33,159,735
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REVENUE LESS EXPENDITURES
7,178,740
7,869,811
4.1 I
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Fi{e: Financial Report - April 2009 Agenda.xlsx.xls 2 4/20/2009