HomeMy WebLinkAbout09-00819 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
June 30, 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
June 30, 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
Footnotes:
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
18,2.25,080 33,493,873 51,718,952
Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
18,325,080 33,593,873 51,918,952
11,994,438 26,227,149 38,221,587
6,330,642 7,366,724 13,697,365
$ 18,325,080 $ 33,593,873 $ 51,918,952
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 $8,823,171, has been budgeted for this purpose. Of this amount $7,712,683, has
been encumbered and $2,972,999, has been expended, leaving an available balance of $1,110,488.
Total Allocated
$ 8,823,171
- Encumbrances (Expended to Date - $2,972,999) (7,712,683)
Unrestricted Remaining Balance $ 1,110,488
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
June 30, 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 June
Budget
Variance
BUDGET
OF June
Budget
Variance
SUMMARY
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REVENUES
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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
, 2,352,176
16.8%
11,619,314
26,237,167
946,622
3.6%
25,290,545
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TOTAL REVENUES
20,986,387
9,367,073
44.6%
11,619,314
40,760,071
15,469,526
38.0%
25,290,545
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EXPENDITURES
COMMUNITY REDEV EXPENSES
20,130,037
3,036,431
15,1%
17,093,606
39,903,721
8,102,802
20-3%
31,800,919
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
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TOTAL EXPENDITURES
20,986,387
3,036,431
14.5%
17,949,956
40,760,071
8,102,802
19.9%
32,657,269
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VENUE LESS EXPENDITURES
6,330,642
7,366,724
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File: Financial Report - July 2009 Agerlda.xls 2 7/15/2009