HomeMy WebLinkAbout10-00864 Financial Summary 07-22-2010SE OPW
COMMUNITY REDEVELOPMENT AGENCY
FINANCIAL REPORT
June 30, 2010
ATTACHMENTS
1. COMBINED STATEMENT OF FINANCIAL POSITION — ALL FUNDS
2. COMBINED STATEMENT OF REVENUES AND EXPENDITURES
SEOPW CRA
Combined Statement of Financial Position
June 30, 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
S 100,000
24,847,468
24,947,468
t Cash - Unrestricted
This represents unspent income carried forward from year to year.
Available TIF funds
16,483,835
8,463,633
$ 24,947,468
SEOPW
100,000
1 00, 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 $14,089,566, has been budgeted for this
purpose. Of this amount $10,627,658, has been encumbered and $3,648,613, has
been expended, leaving an available balance of $3,461.908.
Total Allocated
- Encumbrances (Expended to Date - $3,648,613)
S 14,089,566
(10,627,658)
Remaining Balance S 3,461,908
SEOPW CRA
Combined Statement of Revenues and Expenditures
for the period ended
June 30, 2010
SOUTHEAST OVERTOWN PARK WEST
FY 2010
FY 2010
FY 2010
APPROVED)
AMENDED
AS END
'1 of
BUDGET
OF June
Budget
Variance
SUMMARY
REVENUES
TAX INCREMENT REVENUES
6,270,714c
6,270.4,14
100.0%
270
CONTRIBUTION GOVTS-COUNTY
3.955,532'
3,955,532
1C0.0%
CHILDREN TRUST FUND CONTRIBUTION
454.707
454.707
100.0%
_
OTHER REVENUES;CARRYOVER FB 2009
16,640.974
677.0O3
4.1%
15.963,971
1 I
TOTALL REVENUES
27,321,927
11,357,586
41.6/
15,964.241
1
EXPENDITURES
COMMUNITY REDEV EXPENSES
26.399.543
2.894,053
11.0%
23.505.490
GENERAL GOVERNMENT
822,384
i
0.0%
B22.384
BUDGET RESERVE
A0 .O0r3
0.0%
100,OG0
TRANSFER INTO FY 2010
TOTAL EXPENDITURES
27,321,927
9 2,894,053
10.6%
24,427,874
i
REVENUE LESS EXPENDITURES
8,463.633
l_ i
J
2 7/ 12/2010