HomeMy WebLinkAbout07-01340 Financial SummarySOUTHEAST OVERTOWN PARKWEST AND OAINI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
September 30, 2007
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
September 30, 2007
Assets
1 Cash - Unrestricted
2 Cash Reserved For Projects and Operations
Total Assets
Liabilities and Fund Balance
Account Payables
Audited Fund Balance - FY 2006
Current Year Fiscal Year 2007
Total Liabilities and Fund Balance
Footnotes:
SEOPW OMNI Total
$ 80,000 $ 100,000 $ 180,000
12,943,218 18,440,545 31,383,764
13,023,218 18,540,545 31,563,764
6,934,714
6,088,504
9,943,481 16,878,195
8,597,065 14,685,569
$13,023,218 $ 18,540,545 $31,563,764
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
SEOPW OMNI
80,000 100,000
80,000 100,000
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 the next five years for the rehabilitation and construction
of low income, affordable, and workforce housing in the Overtown Community Redevelopment Area. As of this
date, $80,185.50 have been expended for this purpose out of the $746,744 budgeted for these specific
projects.
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SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended September 30, 2007
SOUTHEAST OVERTOWN PARK WEST
OMNI
FY 2007
FY 2007
FY 2007
FY 2007
FY 2007
FY 2007
REVISED
AS END
/m of
REVISED
AS END
% of
BUDGET
OF Sept
Budget
Variance
BUDGET
OF Sept
Budget
Variance
SUMMARY
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REVENUES
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TAX INCREMENT REVENUES
2,995,835
2,995,835
100.0°!
-
6.221,593
6,221,593
100.0%
CONTRIBUTION GOUTS -COUNTY
2,410,430
2,410,541
_100.0°7
(111)
5,288,712
5.288,712
100.0°/
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OTHER REVENUES/CARRYOVER FB 2006
5,585,086
2.586,586
29.8%
6,098,500
9,964,981
511,443
5,1°0
9,453,538
TOTAL REVENUES
14,091,351
7,992,962
56.7%
6,098,389
21,475,286
12,021,748
56.0%
9.453,538
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EXPENDITURES
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COMMUNITY REDEV EXPENSES
13,311.351
1,404,458
10.6%
11.906,893
20,675,286
2,924,684
141:-
17,750,602
GENERAL GOVERNMENT
700,000
500,000
71.4%
200,000
700,000
500,000
71 4
200,000
BUDGET RESERVE
80,000
0.0%
80,000
100,000
100,000
TOTAL EXPENDITURES
14,091,351
1,904,458
13.5%
12,186,893
21,475,286
3,424,684
15.9%
18,050,602
1 I
REVENUE LESS EXPENDITURES
6,088.504
8,597,065
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File: Financial Report - October 29 2007 Agenda.xls 2 10/22/2007