HomeMy WebLinkAbout09-00523 Financial Summary•
SOUTHEAST OVERTOWN PARKWEST AND OMNI
COMMUNITY REDEVELOPMENT AGENCIES
FINANCIAL REPORT
April 30, 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
April 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:
Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
SEOPW OMNI Total
$ 100,000 $ 100,000 $ 200,000
18,727,579 33,938,168 52,665,747
18,827,579 34,038,168 52,865,747
11,994,438 26,227,149 38,221,587
6,833,141 7,811,019 14,644,160
$ 18,827,579 $ 34038,168 $ 52,865,747
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 $8,593,398, has been budgeted for this purpose, Of this amount $7,612,683, has
been encumbered and $2,728,752, has been expended, leaving an available balance of $980,715.
Total Allocated
- Encumbrances (Expended to Date - S2,728,752)
$ 8,593,398
(7,612,683)
Unrestricted Remaining Balance $ 980,715
1
SEOPW CRA and OMNI CRA
Combined Statement of Revenues and Expenditures
for the period ended
• April 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 April
Budget
Variance
BUDGET
OF April
Budget
Variance
SUMMARY
-
REVENUES
TAX [NCREMENT
REVENUES
4,309,075
4,309,075
100.0%
-
5,925,576
8,925,576
100.09'0
-
CONTRdPUTION GOVTS-COUNTY
2.705,822
2,705,822
100.0%
-
5,597,328
5.597,328
100.0%
-
OTHER REVENUESiCARRYOVER FB 2008
13,971,490
2,201.673
15.8%
11,769,517
26,237,167
947,243
3.66%
25.289.924
I
TOTAL REVENUES
20,986,387
9,216,570
43.9%
11,769,817
40,760,071
15,470,147
38.0%
25,289,924
EXPENDITURES
I
COMMUNITY REDEV EXPENSES
20,130,037
2,383,429
11.8%
17,746,608
39,903,721
7,659,128
19.2%
32,244,593
_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
-
TOTAL EXPENDITURES
20,966,387
2,383,429
11.4°4
18,602,958
40,760,071
7,659,128
18.8%
33,100,943
I 1
REVENUE LESS EXPENDITURES
6,833,141
7,811,019
a I
File: Financial Report - May 18 2009 Agenda.xls 2 511 1 /2009