HomeMy WebLinkAbout10-00522 Financial Summary 4-26-2010SOUTHEAST OVERTOWN PARI(WEST
COMMUNITY REDEVELOPMENT AGENCY
FINANCIAL REPORT
March 31, 2010
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION — ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
SEOPW CRA
Combined Statement of Financial Position
March 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
SEOPW
$ 100,000
25,577,911
25,677,911
16,483,835
9,194,076
$ 25.677,911
Footnotes:
1 Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
SEOPW
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 $14,411,033, has been budgeted for this
purpose. Of this amount $10,627,658, has been encumbered and $3,223,812, has
been expended, leaving an available balance of $3,783,375.
Total Allocated $ 14,411,033
- Encumbrances (Expended fo Date - $3,223,812) (10,627,658)
Unrestricted Remaining Balance $ 3,783,375
SEOPW CRA
Combined Statement of Revenues and Expenditures
for the period ended
March 31, 2010
SOU I HEAST OVERTOWN PARK WEST
FY2010
FY2010
FY2010
APPROVED/
AMENDED
AS END
'/ of
BUDGET
OF Mar
Budget
Variance
SUMMARY
l
REVENUES
i
TAX INCREMENT REVENUES
6.270,714
6,270.444
100.0%
270
CONTRIBUTION GOUTS -COUNTY
3,955,532
3.955,532
100.0%
-
OTHER REVENUES CARRYOVER FB 2009
17,095,681
1,141.795
6.7%
15.953.886
I
TOTAL REVENUES
27,321,927
11,367,771
41,6%
15,954,156
EXPENDITURES
l
COMMUNITY REDEV EXPENSES
26,399,543'
2,173,695
8.2%
24,225.848
GENERAL GOVERNMENT
822,384
0.0%
822,384
100,000
BUDGET RESERVE
100.000
0.0%
TRANSFER INTO FY 2010
TOTAL EXPENDITURES
27,321,92T
2,173,695
8.0%
25,148,232
l
REVENUE LESS EXPENDITURES
9,194,076
I
File: SEOPW Financial Report - Mar 2010 Agenda Presented ohs 4-26-2010.xis 4/15/2010