HomeMy WebLinkAbout09-01072 Financial Summary 09-24-09SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
August 31, 2009
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION — ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
SEOPW CRA and OMNI CRA
Combined Statement of Financial Position
August 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
Footnotes:
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
17,842,827 33,137,768 50,980,595
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
17,942,827 33,237,768 51,180,595
11,994,438 26,227,149 38,221,587
5,948,389 7,010,619 12,959,008
$ 17,942,827 $ 33,237,768 $ 51,180,595
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 $8,893,575, has been budgeted for this purpose. Of this amount $7,612,682, has
been encumbered and $3,089,965, has been expended, leaving an available balance of $1,280,893.
Total Allocated
$ 8,893,575
- Encumbrances (Expended to Date - $3,089,965) (7,612,682)
Unrestricted Remaining Balance $ 1,280,893
1
SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
August 31, 2009
SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2009 1
FY 2009
FY 2069
FY .2009
FY 2009
FY 2009
APPROVED'
AS END
%of
APPROVED
AS END
%of
BUDGET'S
OF Aug
Budget
Variance
(BUDGET
OF Aug
Budget
Variance
SUMMARY
n
i
REVENUES
1
TAX INCREMENT REVENUES
4,309,075
L 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 i
2,517,965
18.0%
11,453,525
26,237,167
934,679
3.6%
25,302,488
TOTAL REVENUES
20,986,387
9,532,862
45.4%
11,453,525
40,760,:071
15,457,583
37.9%
25,302,488
EXPENDITURES
_
COMMUNITY REDEV EXPENSES
20,130,037
3,584,473
17.8%
16.545,564
39,903,721
8,446,964
21.2%
31,456,757
GENERAL GOVERNMENT
756,3501
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
3,584,473
17.1%
17,401,914
40,7,60,071
8,446,964
20.7%
32,313,107
''/ENUE LESS EXPENDITURES
5,948,389
7,010,619
File: Financial Report - September 2009 Agenda.xis 2 9/14/2009