HomeMy WebLinkAbout[04b] Finance Report EDA Agenda Item 4 b
MEETING DATE: November 18, 2015
AGENDA ITEM: Finance Report
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION: Enclosed you will find the reconciled financial reports through
October 31, 2015. The EDA received 51%and expended 47%of the budget(excluding the DEED grant
activity). The second half tax settlement is due in early December. Project spending includes revolving
loans,fagade grants, business development and demolition grants. The EDA has a fund balance of
$91,189; $28,236 undesignated.
The other funds reported include the TIF funds and the Revolving Loan fund. The TIF funds with deficit
balances will be covered by the EDA until TIF revenue is received to cover the deficits. The EDA has four
outstanding revolving loans; one will be completed in 2016. The current revolving loan balance is
$9,691 for future loans.
BUDGET/FISCAL IMPACT: Information only
ATTACHMENTS: Request for EDA Action—Financial Reports
Summary Treasurer's Report
EDA Balance Sheet
EDA Check Register
EDA Revenue Report
EDA Expenditure Report
EDA Summary CIP
REQUESTED COUNCIL ACTION: Consider accepting the financial reports presented as of October
31, 2015.
St. Joseph Economic DeveUopment Authority
y
Summary Treasurer's Report ~ 150
October 2015
Fund 150, EDA Balance as ofDecember 31, 2014 (Audited) 103.52249
Year to Date Revenue:
Interest Earnings 1.1OA 35
TIF/MIF Deposit (unused returned&»Bayou Blues) (10.75178)
DEED Housing Grant Proceeds 133.68950
AdValorem Taxes 49.36275
Transfers from Other Funds 9,134.00
Total Revenue 182.60382
Year to Date Expenditure Total by Project:
Market Development 3,715.10 °°
Business Development 23,083.88 °°
Organizational Development 3,109.15 °°
Infrastructure Development 1,010.70 °°
Workforce Development -
31.58483
Year to Date Expenditures by Object:
Board Stipends (38500)
Staff Salaries (1.651.23)
Workers Comp Premium (3.61)
Software Support/Office Supplies (591.17)
Municipal Development Group (23.030.79)
Lege|/EngineeringFeea (1.583.80)
Telephone (623.95)
Greater St. Cloud Development Investment (5.000.00)
Business Round Table Outreach
Marketing (2.612.68)
Advertising (194.91)
Coborn'sAbetement
CMHousing Grant Reimbursement (133.689.50)
EDA Programs (17.620.09)
Transfer toOther Funds
Total Expenses (194,937.73)
Fund Summaries as ofOctober 31, 2015:
EDA Fund Balance - Fund 150 - unaudited 9-1,-18&58
Designated for Capital Programs 62,5818-1
Designated for DEED Housing Projects 36857
Undesignated 28,236�20
TIF 3-1 Central KOW Credit Union Fund Balance - Fund 152 (5,596 51)
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157 '15,71531
TIF 2-2 St. Joseph Meat Market Fund Balance - Fund 158 (354 79)
TIF 2-3 Bayou Blues &4Uey Flats Fund Balance - Fund 150 (4,262 70)
Revolving Loan Fund Balance - Fund 250 9,690�96
EDA Balance Sheet
Current Period:October 2015
YTD YTD Current
FUND Descr Account Descr __��Yr Debit Cred it Balance
FUND 15oEconomic Development
Economic Development G 150-10100 Cash $189,**3.65 $284,566.28 $223,321.27 $90,688.58
Economic Development G 150-10450 Interest Receivable $215.58 $8.80 $215.58 $8.80
Economic Development G 150-10700 Taxes Receivable oe|mqven $1,316.15 $8.88 $1,316.15 $8.80
Economic Development Gzs8'z3zz3Due From other Gov tUnits $8.80 $8.80 $8.88 $8.80
Economic Development G zs8'zss8UDue From Other Fund $588.80 $8.80 $8.88 $588.80
Economic Development G 150-20200 Accounts pnynU|e -$6,601.0 $6,601.0 $8.88 $8.80
Economic Development G zs8'2828zSalaries Payable -$35.83 $35.83 $8.80 $8.80
Economic Development G 158'22284 Deferred Inflow ofResources -$1,316.15 $1,316.15 $8.80 $8.80
Economic Development G 158'2**15 Design. Fd Bal [npno| pnoj -$53,841.94 $8.88 $8.80 -$53,841.94
Economic Development G 150-25310 Appropriated Fund Balance
FUND 150 Economic Development $8.80 $*36,855.78 $*36,855.78 $8.80
FUND 152TIF 3-1 CMCu
TIF 3-1 CMCu G 152-10100 Cash $8.80 $8.88 $5,596.51 -$5,596.51
TIF 3-1 CMCu G 152-10450 Interest Receivable $8.80 $8.80 $8.80 $8.80
TIF 3-1 CMCu G 152-20200 Accounts pnynU|e $8.80 $8.88 $8.80 $8.80
TIF 3-1 CMCu G 152-25310 Appropriated Fund Balance
FUND 152TIF 3-1 CMCu $8.80 $5,596.51 $5,596.51 $8.80
FUND 157TIF 2-1 Millstream
TIF 2-1 Millstream G 157-10100 Cash $17,951.81 $21,769.92 $2*,806.*2 $15,715.31
TIF 2-1 Millstream G 157-10450 Interest Receivable $29.72 $8.80 $29.72 $8.80
TIF 2-1 Millstream G 157-25310 Appropriated Fund Balance
FUND 157TIF 2-1 Millstream $8.80 $*5,886.86 $*5,886.86 $8.80
FUND 158TIF 2-2 Meat Market
TIF 2-2 Ment Market G 158-10100 Cash $116.36 $1,986.95 $1,958.80 $1*5.31
TIF 2-2 Ment Market G 158-10450 Interest Receivable $8.25 $8.88 $8.25 $8.80
TIF 2-2 Ment Market G 158-28281 Salaries Payable -$17.52 $17.52 $8.80 $8.80
TIF 2-2 Ment Market G 158-28580 Due ToOther Fund -$580.80 $8.80 $8.80 -$588.80
TIF 2-2 Ment Market G 158-25310 Appropriated Fund Balance
FUND 158TIF 2-2 Meat Market $8.80 $3,962.72 $3,962.72 $8.80
FUND 15yTIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou a|ve$A|| G 159-10100 Cash $8.88 $8.80 $*,262.78 -$*,262.78
TIF 2-3 Bayou a|ve$A|| G 159-10450 Interest Receivable $8.88 $8.80 $8.80 $8.80
TIF 2-3 Bayou a|ve$A|| G 159-20200 Accounts pnynU|e $8.88 $8.80 $8.80 $8.80
TIF 2-3 Bayou a|ve$A|| G 159-25310 Appropriated Fund Balance $8.80 $*,262.78 $8.80 $*,262.78
FUND 15yTIF 2-3 Bayou Blues/Alley Flat $8.80 $*,262.78 $*,262.78 $8.88
FUND 25oRevolving Loan Fund
Revolving Loan Fund G2s8'z8z8UCash $39,*69.77 $19,568.*7 $*9,339.28 $9,690.96
Revolving Loan Fund G2s8'z84s8Interest Receivable $63.29 $8.80 $0.29 $8.80
Revolving Loan Fund G2s8'zz9UUNotes Receivable $21,723.72 $8.88 $21,723.72 $8.80
Revolving Loan Fund G 258-22284 Deferred Inflow ofResources -$21,723.72 $21,723.72 $8.80 $8.80
Revolving Loan Fund G 250-25310 Appropriated Fund Balance
FUND 25oRevolving Loan Fund $8.80 $90,686.76 $90,686.76 $8.80
$8.80 $586,378.53 $586,378.53 $8.80
EDA Check Register
c*sCx
# Search Name Comments FUND DEPART Amount
049751 CsmTunxumKBUSINESS SERVICES long distance telephone 158 *6580 $3.*5
849788 BRAND BUILT HOMES, INC. CnApDraw#27 [mmke,,*o|tk 158 *6580 $19,552.80
849782 CsmTunxumK TI |me/28sets 229 #'s Oct 158 *6580 $*9.86
849835 K&s MANUFACTURING DEED Grant Draw #28 [SesUns 158 *6580 $16,285.58
849837 KunrCnsTs apAGrant 158 *6580 $1,880.80
8498** TRI-COUNTY ACTION PROGRAM INC DEED Grant Draw #28 [Stnck/ 158 *6580 $890.80
849857 LEAGUE OpMmCITIES INS TRUST final audit z*/zs workers co 158 *6580 $8.86
849860 MUNICIPAL DEVELOPMENT CORP Sep marketing 158 *6580 $5*2.*2
849860 MUNICIPAL DEVELOPMENT CORP Sep business retention 158 *6580 $1,511.18
849860 MUNICIPAL DEVELOPMENT CORP Sep organizational geve|opmen 158 *6580 $929.98
$*8,70.ds
Current Period:October 2015
2815 October 2815
FUND Descr SOURCE SOURCE Descr YTD Bud2et 2015 Amt YTD Amt
FUND zs8Economic Development
Economic Development 31818 Current Ad Valorem Taxes $94,595.80 $8.80 $*9,362.75
Economic Development 33160 Federal Grants Other $8.80 $36,727.58 $133,689.58
Economic Development 3*158 TzRMzpoeposit $8.80 $8.88 -$18,751.78
Economic Development 3*280 DEED Housing Re|mUvmem $8.88 $8.80 $8.80
Economic Development 36218 Interest Earnings $1,800.88 $59.92 $1,169.35
Economic Development 39281 Transfers from Other Funds
pumo zs8Economic Development $95,595.80 $36,787.*2 $182,603.82
pumo zs2TIF 3-z CMCu
TIF 3-1 CMCu 31858 Tax Increment $8.80 $8.88 $8.80
TIF 3-1 CMCu 36218 Interest Earnings $8.80 $8.80 $8.88
TIF 3-1 CMCu 39281 Transfers from Other Funds
pumo zs2TIF 3-z CMCu $8.88 $8.88 $8.80
FUND zs7TIF 2-1 Millstream
TIF 2-1 Millstream 31858 Tax Increment $8.80 $8.80 $21,**7.84
TIF 2-1 Millstream 36218 Interest Earnings
FUND zs7TIF 2-1 Millstream $8.88 $18.*9 $21,660.76
FUND zs8TIF 2-2Meat Market
TIF 2-2 Ment Market 31858 Tax Increment $8.80 $8.88 $1,981.*1
TIF 2-2 Ment Market 36218 Interest Earnings $8.80 $8.18 $3.62
TIF 2-2 Ment Market 39281 Transfers from Other Funds
FUND zs8TIF 2-2Meat Market $8.88 $8.18 $1,985.83
pumo zs9TIF 2-3 Bayou a|ve$A||ey Flat
TIF 2-3 Bayou a|ve$A||eyRn 31858 Tax Increment $8.88 $8.80 $8.80
TIF 2-3 Bayou a|ve$A||eyRn 36218 Interest Earnings $8.80 $8.80 $8.88
TIF 2-3 Bayou Blues/Alley Rn 39281 Transfers from Other Funds
pumo zs9TIF 2-3 Bayou a|ve$A||ey Flat $8.88 $8.80 $8.80
FUND 2s8Revolving Loan Fund
Revolving Loan Fund 36218 Interest Earnings $380.88 $*.83 $282.15
Revolving Loan Fund 39281 Transfers from Other Funds $8.88 $8.88 $7,951.80
Revolving Loan Fund 39328 Revolving Loan Principal $7,895.80 $1,829.39 $7,8*3.92
Revolving Loan Fund 39321 Revolving Loan Interest $985.80 $15*.78 $937.86
Revolving Loan Fund 39322 Revolving Loan Origination
FUND 2s8Revolving Loan Fund $8,388.88 $1,189.80 $17,*8*.13
$183,975.80 $37,987.81 $223,733.7*
CITY OF ST. JOSEPH
Expenditure r
Current Period:October 2015
2015 October 2015
Account Descr YTD Budget 2015 Amt YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries $4,000.00 $0.00 $1,533.90
E 150-46500-103 Legislative Bodies $1,260.00 $0.00 $385.00
E 150-46500-121 PERA Contributions $0.00 $0.00 $0.57
E 150-46500-122 FICA Contributions $0.00 $0.00 $94.98
E 150-46500-123 Deferred Comp-Employer $0.00 $0.00 -$0.43
E 150-46500-125 Medicare Contributions $0.00 $0.00 $22.21
E 150-46500-130 H S A- Employer Contribution $0.00 $0.00 $0.00
E 150-46500-131 Health Insurance $0.00 $0.00 $0.00
E 150-46500-132 Dental Insurance $0.00 $0.00 $0.00
E 150-46500-133 Life Insurance $0.00 $0.00 $0.00
E 150-46500-134 Disabilty Insurance $0.00 $0.00 $0.00
E 150-46500-151 Workers Comp. Insur. Prem. $10.00 $0.06 $3.61
E 150-46500-171 Clothing Allowance $0.00 $0.00 $0.00
E 150-46500-200 Office Supplies $500.00 $0.00 $68.84
E 150-46500-215 Software Support $540.00 $0.00 $522.33
E 150-46500-300 Professional Services $28,000.00 $2,441.16 $23,030.79
E 150-46500-303 Engineering Fee $2,000.00 $0.00 $1,151.80
E 150-46500-304 Legal Fees $1,000.00 $0.00 $432.00
E 150-46500-321 Telephone $785.00 $52.51 $623.95
E 150-46500-322 Postage $350.00 $0.00 $0.00
E 150-46500-328 Marketing $3,000.00 $542.42 $2,612.68
E 150-46500-331 Travel&Conference Expense $150.00 $0.00 $0.00
E 150-46500-340 Advertising $500.00 $0.00 $194.91
E 150-46500-433 Dues&Memberships $5,000.00 $0.00 $5,000.00
E 150-46500-582 Computer Software $0.00 $0.00 $0.00
E 150-46500-588 EDA Programs $33,500.00 $37,727.50 $151,309.59
E 150-46500-622 TIF/Abatement Payments $50,000.00 $0.00 $0.00
E 150-49300-720 Transfers to Other Funds $0.00 $0.00 $7,951.00
FUND 150 Economic Development $130,595.00 $40,763.65 $194,937.73
FUND 152 TIF 3-1 CMCU
E 152-46500-300 Professional Services $0.00 $0.00 $4,579.51
E 152-46500-301 Audit&Accounting Services $0.00 $0.00 $0.00
E 152-46500-340 Advertising $0.00 $0.00 $0.00
E 152-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 152-49300-720 Transfers to Other Funds $0.00 $0.00 $1,017.00
FUND 152 TIF 3-1 CMCU $0.00 $0.00 $5,596.51
FUND 157 TIF 2-1 Millstream
E 157-46500-101 Salaries $420.00 $0.00 $0.00
E 157-46500-121 PERA Contributions $30.00 $0.00 $0.00
E 157-46500-122 FICA Contributions $25.00 $0.00 $0.00
E 157-46500-123 Deferred Comp-Employer $10.00 $0.00 $0.00
E 157-46500-125 Medicare Contributions $5.00 $0.00 $0.00
E 157-46500-131 Health Insurance $60.00 $0.00 $0.00
E 157-46500-132 Dental Insurance $10.00 $0.00 $0.00
E 157-46500-133 Life Insurance $5.00 $0.00 $0.00
E 157-46500-134 Disabilty Insurance $5.00 $0.00 $0.00
E 157-46500-300 Professional Services $0.00 $0.00 $312.51
E 157-46500-301 Audit&Accounting Services $0.00 $0.00 $0.00
E 157-46500-340 Advertising $0.00 $0.00 $45.32
E 157-46500-622 TIF/Abatement Payments $0.00 $0.00 $19,302.34
E 157-49300-720 Transfers to Other Funds $0.00 $0.00 $4,266.81
CITY OF ST. JOSEPH
Expenditure r
Current Period:October 2015
2015 October 2015
Account Descr YTD Budget 2015 Amt YTD Amt
FUND 157 TIF 2-1 Millstream $570.00 $0.00 $23,926.98
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries $420.00 $0.00 $3.83
E 158-46500-121 PERA Contributions $30.00 $0.00 $0.29
E 158-46500-122 FICA Contributions $25.00 $0.00 $0.17
E 158-46500-123 Deferred Comp-Employer $10.00 $0.00 $0.05
E 158-46500-125 Medicare Contributions $5.00 $0.00 $0.04
E 158-46500-131 Health Insurance $60.00 $0.00 $5.37
E 158-46500-132 Dental Insurance $10.00 $0.00 $0.89
E 158-46500-133 Life Insurance $5.00 $0.00 $0.07
E 158-46500-134 Disabilty Insurance $5.00 $0.00 $0.44
E 158-46500-300 Professional Services $0.00 $0.00 $0.00
E 158-46500-301 Audit&Accounting Services $0.00 $0.00 $0.00
E 158-46500-340 Advertising $0.00 $0.00 $45.32
E 158-46500-622 TIF/Abatement Payments $0.00 $0.00 $1,882.34
FUND 158 TIF 2-2 Meat Market $570.00 $0.00 $1,938.81
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-300 Professional Services $0.00 $0.00 $412.51
E 159-46500-301 Audit&Accounting Services $0.00 $0.00 $0.00
E 159-46500-340 Advertising $0.00 $0.00 $0.00
E 159-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 159-49300-720 Transfers to Other Funds $0.00 $0.00 $3,850.19
FUND 159 TIF 2-3 Bayou Blues/Alley Flat $0.00 $0.00 $4,262.70
FUND 250 Revolving Loan Fund
E 250-46500-300 Professional Services $0.00 $0.00 $434.23
E 250-46500-304 Legal Fees $0.00 $0.00 $0.10
E 250-46500-317 Other fees $0.00 $0.00 -$108.10
E 250-46500-434 Certification Fee $0.00 $0.00 $0.00
E 250-46500-455 Revolving Loan Proceeds $0.00 $0.00 $47,000.00
FUND 250 Revolving Loan Fund $0.00 $0.00 $47,326.23
$131,735.00 $40,763.65 $277,988.96
0 5 _ w
u u L >
u 0 9 i
V �
l7 ¢ m Y
O 0 W O W LO WLn
Ln
O
O m � O O n fn M 4
00
Ln U O^ m ON v n lN0 W Ln
2 c-I m 00 w N O tofy
N f0 LO Ln
CO
a-ILp
r rn �m O W L1On Ln O
Oi
a-I = in W LO O N 0O CO CO
rL a Ln Ln rn Ln LO
UD A N v Lfl ci N n n N f1�
7 N c-I N M
s
o
\ an Ln
L!1 N � 00 Q
O
a-I Ln CO Ol Lfl O
L Ln a-1 m W O
t L N
O H
0 �
LJJ O O OO
O O
C O O O O
m O O O ' O N
Ln
4 Ln O O Lfl �
G CO N m rn M
d i+ rl 7 N c-I c-I fh
>_ C a, 0 CO
N alb N
E
C > 3
O s_
y m v
X CL a y O O N 0� W Ln rH rn M O
LUC U v N V O Lail LLn m rH ' m n O
f6 f6 (U 41 n N W n N Ln ci 0) w M
Um Q. N Q N
Ln U O Q
-0 N O
N Li Q E E
fi6 W
N
Q
N O
n O
y C >N
7 coo oE J. Oo
0
3 O W 'Fn a)
.a O 3 > E J a) O
LU0 w > U
0 m C O CO m
Z o � U N 0
OL C9 Fu= U
E �n .� rn Q cQ CO
o Z) M Z) W a> CO
U Jm0- CO m � U N
T N f- h O Cl) I LO O)
O O O O O O O O O
Cl) M M M M M M M M
a` Z D coca 0 o 0 0
W W W W W W W W W
v
00 00
O
0 Ln Ln
V oO
+ O o
Ln Ln
O � �
V
Q
(D (D 0-
U
c Q
� £ W
X
i
0 J
a aai 0 0 ~
W W