HomeMy WebLinkAbout09-00736 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
May 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 Pos t3on
May 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
Footnotes:
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
18,314,138 33,765,535 52,079,673
Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
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18,414,138 33,865,535 52,279,673
11,994,438 26,227,149 38,221,587
6,419,700 7,638,386 14,058,085
$ 18,414,138 $ 33,865,535 $ 52,279,673
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 $8,666,891, has been budgeted for this purpose. Of this amount $7,612,683.00,
has been encumbered and $2,972,999, has been expended, leaving an available balance of $1,054,208.
Total Allocated
- Encumbrances (Expended to Date - $2,972,999)
Unrestricted Remaining Balance $ 1,054,208
$ 8,666,891
(7,612,683)
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
May 31, 2009
SUMMARY
REVENUES
SOUTHEASTOVERTOWN PARK WEST
FY 2009
APPROVED
BUDGET
FY 2009
AS ENO
OF May
FY 2009
% of
Budget Variance
OMNI
FY 2009
FY 2009
FY 2009
APPROVED
BUDGET
AS END
OF May
of
Budget
Variance
TAX INCREMENT REVENUES
CONTRIBUTION GOVTS-COUNTY
OTHER REVENUES/CARRYOVER FB 2008
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TOTAL REVENUES
4,309,075
2,705,822
4, 309.075
2,705,822
100.0%
100.0%
13,971,490
20, 986, 387
2,294,551
9,309,448
16.4%
44.4 %
11,676,939
11, 676, 939
8,925.576
5,597,328
26, 237,167
40,760,071
8,925,576
5,597,328
946.622
15,469, 526
100.0%
100.0%
3.6%
3 8.0 %
EXPENDITURES
25,290,545
25,290,545
COMMUNITY REDEV EXPENSES
GENERAL GOVERNMENT
BUDGET RESERVE
TRANSFER INTO FY 2009
TOTAL EXPENDITURES
1 1
20.130, 037
756,350
100,000
2,889,748
144%,! 17,240,289
0.0%
0.0%
756,350
100,000
39, 903, 721
756,350
100,000
7,831,140
19.6%
0.0%
32,072,581
756,350
100.000
20, 986, 387
2,889,748
13.8%
18,096,639
40,760,071
7,831,140
19.2%
32,928,931
VENUE LESS EXPENDITURES
I 1
6,419,700
7,638,386
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File: Financial Report - June 2009 Agenda.xls 2
6/23/2009