HomeMy WebLinkAbout10-00159 Financial Report 2-11-2010SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
January 31, 2010
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
January 31, 2010
Assets
Cash - Unrestricted'
Cash Reserved For Projects and Operations 2
Total Assets
Liabilities and Fund Balance
Account Payables
Audited Fund Balance FY 2009
Current Year Fiscal Year 2010
Total Liabilities and Fund Balance
Footnotes:
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
26,124,171 43,883,786 70,007,957
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
26,224,171 43,983,786 70,207,957
16,483,835 30,482,017 46,965,852
9,740,336 13,501,769 23,242,105
$ 26,224,171 $ 43,983,786 $ 70,207,957
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 $16,695,310 has been budgeted for this purpose. Of this amount $10,612,683,
has been encumbered and $3,207,677, has been expended, leaving an available balance of $6,082,627.
Total Allocated
$ 16,695,310
- Encumbrances (Expended to Date - $3,207,677) (10,612,683)
Unrestricted Remaining Balance $ 6,082,627
1
SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
January 31, 2010
SOUTHEAST OVERTOWN PARK WEST
OMNI
'FY 2010
FY 2010
FY 2010
FY 2010
FY 2010
FY 2010
APPROVED
AS END
% of
'APPROVED
AS END
% of
BUDGET I
OF Sep
Budget
Variance
BUDGET
OF Sep
Budget
Variance
SUMMARY
l
1
REVENUES
1
1
1
TAX INCREMENT REVENUES
4,309,075'
6,270,444
145-5%
(1,961,369)
8,925,576
8,238.547
92.3%
687,029
CONTREBUTION GOVTS•COUNTY
2,705,822
3,955,532
146.2%
(1,249.710)
5,597,328
5.195.407
92.8%,
401,921
OTHER REVENUES/CARRYOVER FB 2009
17,812,840
612,162
3.4%
17,200.678
33,193,873
470,987
1.4%
32,722.886
TOTAL REVENUES
24,827,7371
10.838,138
43.7%
13,989,599
47,716,777
13,904,941
29.1%
33,811,836
I
EXPENDITURES L
l
COMMUNITY REDEV EXPENSES
24.044.236
1,097,802
4.6%
22.946,434
46,933,267
403,172
0.9%
46,530,095
GENERAL GOVERNMENT
683,501
0.0%
683,501
683.510
0.0%
683.510
BUDGET RESERVE
100,000
0.0%
100,000
300,000
100,000
TRANSFER INTO FY 2010
TOTAL EXPENDITURES
24,827,737
1,097,802
4.4%
23,729,935
47,$46,77.3
t
S 403,172
0.8%
47,313,605
I I
REVENUE LESS EXPENDITURES
9,740,336
13,501,769
File: Financial Report - January 2010 Agenda Presented on 2-12-2010.xls 2/1/2010