HomeMy WebLinkAbout[04b] Treasurer Report - January 2016 ��Q�,�.�.����N� � EDA Agenda Item 4 b
MEETING DATE: February 17, 2016
AGENDA ITEM: Finance Report
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROLTND INFORMATION: Enclosed you will find the reconciled financial reports through
January 31,2016. The balances include 2015 activity that will be moved from 2016 at the end of the
financial audit in April. The carryover operations budget was$23,280 [before audit entries]. The January
report shows a deficit in undesignated operations. This is due to the 2016 capital budget shown as
designated and the 2016 tax revenues have not been received. If the 2016 capital budget was left as
undesignated the operations budget would be a surplus of$12,774 at the end of January.
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
$13,307 for future loans.
BUDGET/FISCAL IMPACT: For 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 CII'
REQUESTED BOARD ACTION: Consider accepting the fmancial reports as presented.
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
January 2016
Fund 150, EDA Balance as of December 31,2015(Unaudited) 75,315.85
Year to Date Revenue:
Interest Earnings 526.49
TIF/MIF Deposit -
DEED Housing Grant Proceeds 11,348.00
Ad Valorem Taxes 667.74
Transfers from Other Funds -
Total Revenue 12,542.23
Year to Date Exaenditure Total bv Proiect:
Market Development - ""
Business Development - '"'`
Organizational Development - ""
Infrastructure Development - **
Workforce Development - "*.
Year to Date Expenditures bv Obiect:
Board Stipends (455.00)
Staff Salaries/Training (280.00)
Workers Comp Premium -
Software Support/Office Supplies -
Consulting Fees -
Legal/Engineering Fees -
Telephone (49.03)
Greater St.Cloud Development Investment -
Business Round Table Outreach -
Marketing '
Advertising -
Coborn's Abatement -
CM Housing Grant Reimbursement (11,348.00)
EDA Programs '
Transfer to Other Funds -
Total Expenses (12,132.03)
Fund Summaries as of January 31,2016:
EDA Fund Balance-Fund 150-unaudited 75,726.05
Designated for Capital Programs 96,083.81
Designated for DEED Housing Projects 368.57
Undesignated (20,726.33)
TIF 3-1 Central MN Credit Union Fund Balance- Fund 152 (5,596.51)
TIF 2-1 Millstream Shops and Lofts Fund Balance- Fund 157 17,558.90
TIF 2-2 St.Joseph Meat Market Fund Balance- Fund 158 (255.26)
TIF 2-3 Bayou Blues 8�Alley Flats Fund Balance- Fund 159 (4,262.70)
Revolving Loan Fund Balance-Fund 250 13,306.82
*"Detail available upon request
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�� 1 C���F ST. JOSEPH 02/03/16 3:42 PM
('j f` Page 1
" " �. EDA Check Register
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CHECK
# Search Name Comments FUND DEPART Amount
050092 BRAND BUILT HOMES,INC. CDAP Grant Draw#31[StockJ 150 46500 $11,348.00
050099 CENTURYLINK Jan T1 line/20 sets 229#'s 150 46500 $49.03
050144 DANIELSON,DOUG EDA meetings-)uly-Nov 2015 150 46500 $105.00
050145 EHLERS AND ASSOCIATES Public Finance Seminar-Bartle 150 46500 $280.00
050147 HOSCH, LARRY EDA meetings-2015 150 46500 $210.00
050152 MINNWEST BANK Cleanup 2015 TIF payment-Mil 157 46500 $1,084.72
050157 OSBERG,GARY EDA meetings-July-Nov 2015 150 46500 $140.00
$13,216.75
it CITY OF ST. JOSEPH 02/03/16 3:42 PM
����n"_ `- Page 1
nl� EDA Expenditure Report
Y"`"""�"'�,'�`°"' Current Period:January 2016
2016 January 2016
Account Descr YTD Budaet 2016 Amt YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries $18,985.00 $0.00 $0.00
E 150-46500-103 Legislative Bodies $1,260.00 $455.00 $455.00
E 150-46500-121 PERA Contributions $1,425.00 $0.00 $0.00
E 150-46500-122 FICA Contributions $920.00 $0.00 $0.00
E 150-46500-123 Deferred Comp-Employer $385.00 $0.00 $0.00
E 150-46500-125 Medicare Contributions $215.00 $0.00 $0.00
E 150-4b500-130 H S A-Employer Contribution $790.00 $0.00 $0.00
E 150-46500-131 Heaith Insurance $4,190.00 $0.00 $0.00
E 150-4b500-132 Dental Insurance $755.00 $0.00 $0.00
E 150-46500-133 Life Insurance $60.00 $0.00 $0.00
E 150-46500-134 Disabilty Insurance $175.00 $0.00 $0.00
E 150-4b500-151 Workers Comp.Insur. Prem. $140.00 $0.00 $0.00
E 150-46500-171 Clothing Allowance $60.00 $0.00 $0.00
E 150-46500-200 Office Supplies $500.00 $0.00 $0.00
E 150-46500-215 Software Support $530.00 $0.00 $0.00
E 150-46500-300 Professional Services $3,000.00 $0.00 $0.00
E 150-46500-303 Engineering Fee $2,000.00 $0.00 $0.00
E 150-46500-304 Legal Fees $1,000.00 $0.00 $0.00
E 150-46500-321 Telephone $630.00 $49.03 $49.03
E 150-46500-322 Postage $350.00 $0.00 $0.00
E 150-46500-328 Marketing $2,000.00 $0.00 $0.00
E 150-46500-331 Travel&Conference Expense $245.00 $280.00 $280.00
E 150-46500-340 Advertising $500.00 $0.00 $0.00
E 150-46500-433 Dues&Memberships $0.00 $0.00 $0.00
E 150-4b500-582 Computer Software $0.00 $0.00 $0.00
E 150-46500-588 EDA Programs $33,500.00 $11,348.00 $11,348.00
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 $0.00
FUND 150 Ewnomic Development $123,615.00 $12,132.03 $12,132.03
FUND 152 TIF 3-1 CMCU
E 152-46500-300 Professional Services $0.00 $0.00 $0.00
E 152-46500-301 Audit&Accounting Services $750.00 $0.00 $0.00
E 152-46500-340 Advertising $45.00 $0.00 $0.00
E 152-4b500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 152-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
FUND 152 TIF 3-1 CMCU $795.00 $0.00 $0.00
FUND 1571IF 2-1 Millstream
E 157-46500-300 Professional Services $0.00 $0.00 $0.00
E 157-46500-301 Audit&Accounting Services $500.00 $0.00 $0.00
E 157-46500-340 Advertising $45.00 $0.00 $0.00
E 157-46500-622 TIF/Abatement Payments $34,000.00 $1,084.72 $1,084.72
E 157-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
FUND 157 TIF 2-1 Miilstream $34,545.00 $1,084.72 $1,084.72
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries $0.00 $0.00 $0.00
E 158-46500-121 PERA Contributions $0.00 $0.00 $0.00
E 158-46500-122 FICA Contributions $0.00 $0.00 $0.00
E 158-46500-123 Deferred Comp-Employer $0.00 $0.00 $0.00
E 158-46500-125 Medicare Contributions $0.00 $0.00 $0.00
E 158-46500-131 Heaith Insurance $0.00 $0.00 $0.00
CITY OF ST. JOSEPH 02/03/16 3:42 PM
� Page 2
E�A Expenditure Report
"�'""""�'°"Ph`°�° Current Period:January 2016
2016 January 2016
Acwunt Descr YTD Budaet 2016 Amt YTD Amt
E 158-46500-132 Dental Insurance $0.00 $0.00 $0.00
E 158-46500-133 Life Insurance $0.00 $0.00 $0.00
E 158-46500-134 Disabilty Insurance $0.00 $0.00 $0.00
E 158-46500-300 Professional Services $0.00 $0.00 $0.00
E 158-46500-301 Audit&Accounting Services $500.00 $0.00 $0.00
E 158-46500-340 Advertising $45.00 $0.00 $0.00
E 158-46500-622 TIF/Abatement Payments $4,000.00 $0.00 $0.00
FUND 158 TIF 2-2 Meat Market $4,545.00 $0.00 $0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-300 Professional Services $0.00 $0.00 $0.00
E 159-46500-301 Audit&Accounting Services $750.00 $0.00 $0.00
E 159-46500-340 Advertising $45.00 $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 $0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat $795.00 $0.00 $0.00
FUND 250 Revolving Loan Fund
E 250-46500-300 Professional Services $0.00 $0.00 $0.00
E 250-46500-304 Legal Fees $0.00 $0.00 $0.00
E 250-46500-317 Other fees $0.00 $0.00 $0.00
E 250-46500-434 Certification Fee $0.00 $0.00 $0.00
E 250-46500-455 Revolving Loan Proceeds $0.00 $0.00 $0.00
FUND 250 Revolving Loan Fund $0.00 $0.00 $0.00
$164,295.00 $13,216.75 $13,216.75
i CITY OF ST. JOSEPH 02/03/16 3:42 PM
Page 1
"f 1��. EDA Revenue Report
�"`"„�"�`""'h`°�' Current Period:January 2016
2016 January 2016
FUND Descr SOURCE SOURCE Descr YfD Budqet 2016 Amt YTD Amt
FUND 150 Economic Development
Economic Development 31010 Current Ad Valorem Taxes $122,365.00 $667.74 $667.74
Economic Development 33160 Federal Grants-Other $0.00 $11,348.00 $11,348.00
Economic Development 34150 TIF/MIF Deposit $0.00 $0.00 $0.00
Economic Development 34200 DEED Housing Reimbursem $0.00 $0.00 $0.00
Economic Development 36210 Interest Earnings $1,250.00 $526.49 $526.49
Economic Development 39201 Transfers from Other Funds $0.00 $0.00 $0.00
FUND 150 Economic Development $123,615.00 $12,542.23 $12,542.23
FUND 152 TIF 3-1 CMCU
TIF 3-1 CMCU 31050 Tax Increment $0.00 $0.00 $0.00
TIF 3-1 CMCU 36210 Interest Earnings $0.00 $0.00 $0.00
TIF 3-1 CMCU 39201 Transfers from Other Funds $0.00 $0.00 $0.00
FUND 152 TIF 3-1 CMCU $0.00 $0.00 $0.00
FUND 157 TIF 2-1 Millstream
TIF 2-1 Millstream 31050 Tax Increment $37,000.00 $1,205.24 $1,205.24
TIF 2-1 Miilstream 36210 Interest Earnings $275.00 $107.70 $107.70
FUND 157 TIF 2-1 Millstream $37,275.00 $1,312.94 $1,312.94
FUND 158 TIF 2-2 Meat Market
TIF 2-2 Meat Market 31050 Tax Increment $4,000.00 $0.00 $0.00
TIF 2-2 Meat Market 36210 Interest Earnings $5.00 $1.18 $1.18
TIF 2-2 Meat Market 39201 Transfers from Other Funds $0.00 $0.00 $0.00
FUND 158 TIF 2-2 Meat Market $4,005.00 $1.18 $1.18
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/Alley Fla 31050 Tax Increment $0.00 $0.00 $0.00
TIF 2-3 Bayou Blues/Alley Fla 36210 Interest Earnings $0.00 $0.00 $0.00
TIF 2-3 Bayou Blues/Aliey Fla 39201 Transfers from Other Funds $0.00 $0.00 $0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat $0.00 $0.00 $0.00
FUND 250 Revolving Loan Fund
Revolving Loan Fund 36210 Interest Earnings $250.00 $72.27 $72.27
Revolving Loan Fund 39201 Transfers from Other Funds $0.00 $0.00 $0.00
Revoiving Loan Fund 39320 Revolving Loan Principal $10,995.00 $1,037.12 $1,037.12
Revolving Loan Fund 39321 Revolving Loan Interest $1,610.00 $147.05 $147.05
Revolving Loan Fund 39322 Revolving Loan Origination $0.00 $0.00 $0.00
FUND 250 Revolving Loan Fund $12,855.00 $1,256.44 $1,256.44
$177,750.00 $15,112.79 $15,112.79
02/03/16 3:42 PM
CITY OF ST. JOSEPH Page 1
,�����"� "�•. EDA Balance Sheet
""`�'"�""�"'�".�' Current Period:January 2016
YTD YTD Current
FUND Descr Account Descr Beqin Yr Debit Credit Balance
FUND 150 Economic Development
Economic Development G 150-10100 Cash $74,708.56 $12,542.23 $12,132.03 $75,118.76
Economic Development G 150-10450 Interest Receivable $242.55 $0.00 $0.00 $242.55
Economic Development G 150-10700 Taxes Receivable-Delinquen $0.00 $0.00 $0.00 $0.00
Economic Development G 150-13113 Due From other Gov t Units $667.74 $0.00 $0.00 $667.74
Economic Development G 150-15500 Due From Other Fund $11,500.00 $0.00 $0.00 $11,500.00
Economic Development G 150-20200 Accounts Payable -$11,803.00 $0.00 $0.00 -$11,803.00
Economic Development G 150-20201 Salaries Payable $0.00 $0.00 $0.00 $0.00
Economic Development G 150-22204 Deferred Inflow of Resources $0.00 $0.00 $0.00 $0.00
Economic Development G 150-24415 Design. Fd Bal-Capital Proj -$53,041.94 $0.00 $0.00 -$53,041.94
Economic Development G 150-25310 Appropriated Fund Balance -$22,273.91 $12,132.03 $12,542.23 -$22,684.11
FUND 150 Economic Development $0.00 $24,674.26 $24,674.26 $0.00
FUND 152 TIF 3-1 CMCU
TIF 3-1 CMCU G 152-10100 Cash $403.49 $0.00 $0.00 $403.49
TIF 3-1 CMCU G 152-10450 Interest Receivable $0.00 $0.00 $0.00 $0.00
TIF 3-1 CMCU G 152-20200 Accounts Payable $0.00 $0.00 $0.00 $0.00
TIF 3-1 CMCU G 152-20500 Due To Other Fund -$6,000.00 $0.00 $0.00 -$6,000.00
TIF 3-1 CMCU G 152-25310 Appropriated Fund Balance $5,596.51 $0.00 $0.00 $5,596.51
FUND 152 TIF 3-1 CMCU $0.00 $0.00 $0.00 $0.00
FUND 157 TIF 2-i Millstream
TIF 2-1 Milistream G 157-10100 Cash $17,162.21 $1,312.94 $1,084.72 $17,390.43
TIF 2-1 Millstream G 157-10450 Interest Receivable $47.95 $0.00 $0.00 $47.95
TIF 2-1 Millstream G 157-13113 Due From other Gov t Units $1,205.24 $0.00 $0.00 $1,205.24
TIF 2-1 Millstream G 157-20200 Accounts Payable -$1,084.72 $0.00 $0.00 -$1,084.72
TIF 2-1 Millstream G 157-25310 Appropriated Fund Balance -$17,330.68 $1,084.72 $1,312.94 -$17,558.90
FUND 157 TIF 2-i Millstream $0.00 $2,397.66 $2,397.66 $0.00
FUND 158 TIF 2-2 Meat Market
TIF 2-2 Meat Market G 158-10100 Cash $242.94 $1.18 $0.00 $244.12
TIF 2-2 Meat Market G 158-10450 Interest Receivable $0.62 $0.00 $0.00 $0.62
TIF 2-2 Meat Market G 158-20201 Salaries Payable $0.00 $0.00 $0.00 $0.00
TIF 2-2 Meat Market G 158-20500 Due To Other Fund -$500.00 $0.00 $0.00 -$500.00
TIF 2-2 Meat Market G 158-25310 Appropriated Fund Balance $256.44 $0.00 $1.18 $255.26
FUND 158 TIF 2-2 Meat Market $0.00 $1.18 $1.18 $0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/All G 159-10100 Cash $737.30 $0.00 $0.00 $737.30
TIF 2-3 eayou Blues/All G 159-10450 Interest Receivable $0.00 $0.00 $0.00 $0.00
TIF 2-3 Bayou Blues/All G 159-20200 Accounts Payable $0.00 $0.00 $0.00 $0.00
TIF 2-3 Bayou Blues/All G 159-20500 Due To Other Fund -$5,000.00 $0.00 $0.00 -$5,000.00
TIF 2-3 Bayou Blues/All G 159-25310 Appropriated Fund Balance $4,262.70 $0.00 $0.00 $4,262.70
FUND 159 TiF 2-3 Bayou Blues/Alley Flat $0.00 $0.00 $0.00 $0.00
FUND 250 Revolving Loan Fund
Revolving Loan Fund G 250-10100 Cash $11,993.70 $1,256.44 $0.00 $13,250.14
Revolving Loan Fund G 250-10450 Interest Receivable $56.68 $0.00 $0.00 $56.68
Revolving Loan Fund G 250-11900 Notes Receivable $58,816.28 $0.00 $0.00 $58,816.28
Revolving Loan Fund G 250-22204 Deferred Inflow of Resources -$58,816.28 $0.00 $0.00 -$58,816.28
Revolving Loan Fund G 250-25310 Appropriated Fund Balance -$12,050.38 $0.00 $1,256.44 -$13,306.82
FUND 250 Revolving Loan Fund $0.00 $1,256.44 $1,256.44 $0.00