HomeMy WebLinkAbout[04b] Finance ReportEDAAgendaItem 4b
MEETING DATE: July19, 2017
AGENDAITEM: JuneFinanceReports/
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCILRECOMMENDATION: N/A
PREVIOUS EDAACTION: None
BACKGROUND INFORMATION: Enclosedyouwillfindthereconciledfinancialreportsthrough
June30, 2017. Theendingundesignated balanceshowsadeficitof $5,940. Thedesignated project
balanceis $144,299. The2017 budgetincludes $49,100forEDAprojectfunding. Thedesignated
balanceincludesthisamount; however, onlytheJuneportionofthepropertytaxeshavebeenreceived
70% ofthefirsthalfsettlement). Withoutshowingthe2017capitalexpenditures, theundesignated
balancewouldbeasurplusof $43,160.
TheotherfundsreportedincludetheTIFfunds, LodgingTax, DEEDCDAPGrantreimbursement andthe
RevolvingLoanfund. TheTIFfundswithdeficitbalanceswillbecovered bytheEDAuntilTIFrevenueis
receivedtocoverthedeficits. TheEDAhastwooutstandingrevolving loansattheendofJune. The
thcurrentrevolvingloanfundbalanceis $36,509atJune30.
BUDGET/FISCALIMPACT: ForInformation Only
ATTACHMENTS: RequestforEDAAction – FinanceReports
EDAFinancialSummary
EDABalanceSheet
EDACheckRegister
EDARevenueReport
EDAExpenditureReport
EDASummaryCIP
REQUESTEDBOARDACTION: Consider accepted oftheJunefinancialreports
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
June 2017
Fund 150, EDA Balance as of December 31, 2016(Audited)
133,380.66
Year to Date Revenue:
Interest Earnings306.62
TIF/MIF Deposit-
DEED Housing Grant Proceeds-
Ad Valorem Taxes29,432.16
Transfers from Other Funds-
Total Revenue29,738.78
Year to Date Expenditures by Object:
Board Stipends(210.00)
Staff Salaries/Training(17,772.46)
Workers Comp Premium-
Software Support/Office Supplies(1,197.13)
Professional Services-
Legal/Engineering Fees(44.50)
Telephone(371.52)
Greater St. Cloud Development Investment(5,000.00)
Business Round Table Outreach-
Marketing(165.00)
Advertising-
Coborn's Abatement-
CM Housing Grant Reimbursement-
EDA Programs-
Transfer to Other Funds-
Total Expenses(24,760.61)
Fund Summaries as of June 30, 2017:
EDA Fund Balance - Fund 150 - unaudited
138,358.83
Designated for Capital Programs 144,298.86
Undesignated (5,940.03)
TIF 3-1 Central MN Credit Union Fund Balance - Fund 152
8,840.69
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153
2,129.50
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157
33,551.27
TIF 2-2 St. Joseph Meat Market Fund Balance - Fund 158
2,627.19
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159
(5,683.94)
Lodging Tax Fund Balance - Fund 220
10,267.33
DEED CDAP Grant Fund Balance - Fund 225
11,090.90
Revolving Loan Fund Balance - Fund 250
36,509.20
YTDYTDCurrent
FUND DescrAccount DescrBegin YrDebitCreditBalance
FUND 150 Economic Development
Economic DevelopmentG 150-10100 Cash$123,620.69$57,225.31$54,137.17$126,708.83
Economic DevelopmentG 150-10450 Interest Receivable$181.88$0.00$181.88$0.00
Economic DevelopmentG 150-10500 Accounts Receivable$4,093.12$0.00$4,093.12$0.00
Economic DevelopmentG 150-10700 Taxes Receivable - Delinquen$629.56$0.00$629.56$0.00
Economic DevelopmentG 150-13113 Due From other Gov t Units$632.76$0.00$632.76$0.00
Economic DevelopmentG 150-15500 Due From Other Fund$11,650.00$0.00$0.00$11,650.00
Economic DevelopmentG 150-20200 Accounts Payable-$5,647.79$5,647.79$0.00$0.00
Economic DevelopmentG 150-20201 Salaries Payable-$1,150.00$1,150.00$0.00$0.00
Economic DevelopmentG 150-22204 Deferred Inflow of Resources-$629.56$629.56$0.00$0.00
Economic DevelopmentG 150-24415 Design. Fd Bal - Capital Proj-$100,643.86$0.00$0.00-$100,643.86
Economic DevelopmentG 150-25310 Unassigned Fund Balance-$32,736.80$66,544.93$71,523.10-$37,714.97
FUND 150 Economic Development$0.00$131,197.59$131,197.59$0.00
FUND 152 TIF 3-1 CMCU
TIF 3-1 CMCUG 152-10100 Cash$154.37$18,136.32$3,450.00$14,840.69
TIF 3-1 CMCUG 152-10450 Interest Receivable$0.00$0.00$0.00$0.00
TIF 3-1 CMCUG 152-10500 Accounts Receivable$0.00$0.00$0.00$0.00
TIF 3-1 CMCUG 152-20200 Accounts Payable$0.00$0.00$0.00$0.00
TIF 3-1 CMCUG 152-20500 Due To Other Fund-$6,000.00$0.00$0.00-$6,000.00
TIF 3-1 CMCUG 152-25310 Unassigned Fund Balance$5,845.63$3,450.00$18,136.32-$8,840.69
FUND 152 TIF 3-1 CMCU$0.00$21,586.32$21,586.32$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts
TIF 4-1 Fortitude SeniorG 153-10100 Cash$1.38$20,478.12$18,200.00$2,279.50
TIF 4-1 Fortitude SeniorG 153-10450 Interest Receivable$0.00$0.00$0.00$0.00
TIF 4-1 Fortitude SeniorG 153-10500 Accounts Receivable$5,478.12$0.00$5,478.12$0.00
TIF 4-1 Fortitude SeniorG 153-20200 Accounts Payable-$3,200.00$3,200.00$0.00$0.00
TIF 4-1 Fortitude SeniorG 153-20500 Due To Other Fund-$150.00$0.00$0.00-$150.00
TIF 4-1 Fortitude SeniorG 153-25310 Unassigned Fund Balance-$2,129.50$38,678.12$38,678.12-$2,129.50
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$62,356.24$62,356.24$0.00
FUND 157 TIF 2-1 Millstream
TIF 2-1 MillstreamG 157-10100 Cash$20,737.15$16,293.22$3,479.10$33,551.27
TIF 2-1 MillstreamG 157-10450 Interest Receivable$35.79$0.00$35.79$0.00
TIF 2-1 MillstreamG 157-10500 Accounts Receivable$2,800.00$0.00$2,800.00$0.00
TIF 2-1 MillstreamG 157-13113 Due From other Gov t Units$688.00$0.00$688.00$0.00
TIF 2-1 MillstreamG 157-20200 Accounts Payable-$3,419.20$3,419.20$0.00$0.00
TIF 2-1 MillstreamG 157-25310 Unassigned Fund Balance-$20,841.74$7,002.89$19,712.42-$33,551.27
FUND 157 TIF 2-1 Millstream$0.00$26,715.31$26,715.31$0.00
FUND 158 TIF 2-2 Meat Market
TIF 2-2 Meat MarketG 158-10100 Cash$316.33$2,934.66$123.80$3,127.19
TIF 2-2 Meat MarketG 158-10450 Interest Receivable$0.90$0.00$0.90$0.00
TIF 2-2 Meat MarketG 158-20201 Salaries Payable$0.00$0.00$0.00$0.00
TIF 2-2 Meat MarketG 158-20500 Due To Other Fund-$500.00$0.00$0.00-$500.00
TIF 2-2 Meat MarketG 158-25310 Unassigned Fund Balance$182.77$124.70$2,934.66-$2,627.19
FUND 158 TIF 2-2 Meat Market$0.00$3,059.36$3,059.36$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
TIF 2-3 Bayou Blues/AllG 159-10100 Cash$30.97$31.09$746.00-$683.94
TIF 2-3 Bayou Blues/AllG 159-10450 Interest Receivable$0.00$0.00$0.00$0.00
YTDYTDCurrent
FUND DescrAccount DescrBegin YrDebitCreditBalance
TIF 2-3 Bayou Blues/AllG 159-20200 Accounts Payable-$700.00$700.00$0.00$0.00
TIF 2-3 Bayou Blues/AllG 159-20500 Due To Other Fund-$5,000.00$0.00$0.00-$5,000.00
TIF 2-3 Bayou Blues/AllG 159-25310 Unassigned Fund Balance$5,669.03$746.00$731.09$5,683.94
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$0.00$1,477.09$1,477.09$0.00
FUND 220 Lodging Tax
Lodging TaxG 220-10100 Cash$7,675.51$2,597.31$5.49$10,267.33
Lodging TaxG 220-10450 Interest Receivable$1.18$0.00$1.18$0.00
Lodging TaxG 220-10500 Accounts Receivable$377.35$0.00$377.35$0.00
Lodging TaxG 220-25310 Unassigned Fund Balance-$8,054.04$384.02$2,597.31-$10,267.33
FUND 220 Lodging Tax$0.00$2,981.33$2,981.33$0.00
FUND 225 DEED CDAP Grant
DEED CDAP GrantG 225-10100 Cash$0.00$11,090.90$0.00$11,090.90
DEED CDAP GrantG 225-10450 Interest Receivable$0.00$0.00$0.00$0.00
DEED CDAP GrantG 225-25310 Unassigned Fund Balance$0.00$0.00$11,090.90-$11,090.90
FUND 225 DEED CDAP Grant$0.00$11,090.90$11,090.90$0.00
FUND 250 Revolving Loan Fund
Revolving Loan FundG 250-10100 Cash$25,212.38$12,227.94$931.12$36,509.20
Revolving Loan FundG 250-10450 Interest Receivable$35.18$0.00$35.18$0.00
Revolving Loan FundG 250-11900 Notes Receivable$47,437.96$0.00$47,437.96$0.00
Revolving Loan FundG 250-22204 Deferred Inflow of Resources-$38,823.89$38,823.89$0.00$0.00
Revolving Loan FundG 250-25310 Unassigned Fund Balance-$33,861.63$9,580.37$12,227.94-$36,509.20
FUND 250 Revolving Loan Fund$0.00$60,632.20$60,632.20$0.00
$0.00$321,096.34$321,096.34$0.00
CHECK
#Search NameCommentsFUNDDEPARTAmount
052158CENTURYLINK BUSINESS SERVICESlong distance telephone15046500$5.33
052172CENTURYLINKT1 line/20 sets 229 #'s15046500$50.70
052211FINKEN INCwater bottles15046500$165.00
052229STEARNS COUNTY RECORDERrecord Millstream Shops/Lofts -15746500$46.00
052229STEARNS COUNTY RECORDERrecord Bayou Blues -amend DA15946500$46.00
052276OSBERG, GARY2nd quarter EDA mtgs15046500$70.00
$383.03
2017June2017
Account DescrSOURCYTD Budget2017 AmtYTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes31010$93,920.00$29,432.16$29,432.16
R 150-46500-33160 Federal Grants - Other33160$0.00$0.00$0.00
R 150-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 150-46500-36210 Interest Earnings36210$1,400.00$147.93$306.62
R 150-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 150 Economic Development$95,320.00$29,580.09$29,738.78
FUND 152 TIF 3-1 CMCU
R 152-46500-31050 Tax Increment31050$0.00$14,936.32$14,936.32
R 152-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 152-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 152 TIF 3-1 CMCU$0.00$14,936.32$14,936.32
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 153-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 153-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 153-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment31050$0.00$12,700.46$12,700.46
R 157-46500-36210 Interest Earnings36210$275.00$28.92$55.07
FUND 157 TIF 2-1 Millstream$275.00$12,729.38$12,755.53
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment31050$0.00$2,933.08$2,933.08
R 158-46500-36210 Interest Earnings36210$5.00$0.39$0.46
R 158-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 158 TIF 2-2 Meat Market$5.00$2,933.47$2,933.54
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment31050$0.00$31.09$31.09
R 159-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 159-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$0.00$31.09$31.09
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax31600$0.00$390.00$2,188.00
R 220-46500-36210 Interest Earnings36210$0.00$12.52$25.29
FUND 220 Lodging Tax$0.00$402.52$2,213.29
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement34200$0.00$0.00$11,077.71
R 225-46500-36210 Interest Earnings36210$0.00$10.24$13.19
FUND 225 DEED CDAP Grant$0.00$10.24$11,090.90
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings36210$250.00$48.74$99.78
R 250-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
R 250-46500-39320 Revolving Loan Principal39320$8,955.00$875.88$1,966.89
R 250-46500-39321 Revolving Loan Interest39321$1,295.00$106.22$580.90
2017June2017
Account DescrSOURCYTD Budget2017 AmtYTD Amt
R 250-46500-39322 Revolving Loan Origination Fee39322$0.00$0.00$0.00
FUND 250 Revolving Loan Fund$10,500.00$1,030.84$2,647.57
$106,100.00$61,653.95$76,347.02
2017June2017
Account DescrYTD Budget2017 AmtYTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries$24,200.00$2,180.46$12,626.81
E 150-46500-103 Legislative Bodies$1,260.00$70.00$210.00
E 150-46500-121 PERA Contributions$1,815.00$163.55$947.03
E 150-46500-122 FICA Contributions$1,395.00$131.14$760.16
E 150-46500-123 Deferred Comp-Employer$0.00$0.47$0.47
E 150-46500-125 Medicare Contributions$325.00$30.66$177.78
E 150-46500-130 H S A- Employer Contribution$790.00$0.00$450.00
E 150-46500-131 Health Insurance$4,190.00$398.84$2,393.04
E 150-46500-132 Dental Insurance$460.00$39.80$276.80
E 150-46500-133 Life Insurance$25.00$2.59$15.24
E 150-46500-134 Disabilty Insurance$175.00$21.79$121.13
E 150-46500-151 Workers Comp. Insur. Prem.$165.00$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$190.62
E 150-46500-215 Software Support$575.00$0.00$1,006.51
E 150-46500-300 Professional Services$3,000.00$0.00$0.00
E 150-46500-303 Engineering Fee$2,000.00$0.00$44.50
E 150-46500-304 Legal Fees$1,000.00$0.00$0.00
E 150-46500-321 Telephone$675.00$56.03$371.52
E 150-46500-322 Postage$350.00$0.00$0.00
E 150-46500-328 Marketing$2,000.00$165.00$165.00
E 150-46500-331 Travel & Conference Expense$1,000.00$0.00$4.00
E 150-46500-340 Advertising$500.00$0.00$0.00
E 150-46500-433 Dues & Memberships$5,260.00$0.00$5,000.00
E 150-46500-582 Computer Software$0.00$0.00$0.00
E 150-46500-588 EDA Programs$43,600.00$0.00$0.00
E 150-46500-622 TIF/Abatement Payments$0.00$0.00$0.00
E 150-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 150 Economic Development$95,320.00$3,260.33$24,760.61
FUND 152 TIF 3-1 CMCU
E 152-46500-101 Salaries$0.00$0.00$0.00
E 152-46500-121 PERA Contributions$0.00$0.00$0.00
E 152-46500-122 FICA Contributions$0.00$0.00$0.00
E 152-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 152-46500-125 Medicare Contributions$0.00$0.00$0.00
E 152-46500-132 Dental Insurance$0.00$0.00$0.00
E 152-46500-133 Life Insurance$0.00$0.00$0.00
E 152-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 152-46500-300 Professional Services$0.00$0.00$250.00
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 152-46500-622 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$250.00
FUND 153 TIF 4-1 Fortitude Senior Apts
E 153-46500-101 Salaries$0.00$0.00$0.00
E 153-46500-121 PERA Contributions$0.00$0.00$0.00
E 153-46500-122 FICA Contributions$0.00$0.00$0.00
2017June2017
Account DescrYTD Budget2017 AmtYTD Amt
E 153-46500-125 Medicare Contributions$0.00$0.00$0.00
E 153-46500-300 Professional Services$0.00$0.00$0.00
E 153-46500-340 Advertising$0.00$0.00$0.00
E 153-46500-588 EDA Programs$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream
E 157-46500-101 Salaries$0.00$0.00$0.00
E 157-46500-121 PERA Contributions$0.00$0.00$0.00
E 157-46500-122 FICA Contributions$0.00$0.00$0.00
E 157-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 157-46500-125 Medicare Contributions$0.00$0.00$0.00
E 157-46500-132 Dental Insurance$0.00$0.00$0.00
E 157-46500-133 Life Insurance$0.00$0.00$0.00
E 157-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 157-46500-300 Professional Services$0.00$46.00$46.00
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$0.00$0.00
E 157-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream$34,545.00$46.00$46.00
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries$0.00$62.09$103.48
E 158-46500-121 PERA Contributions$0.00$4.66$7.76
E 158-46500-122 FICA Contributions$0.00$3.80$6.33
E 158-46500-123 Deferred Comp-Employer$0.00$0.94$1.56
E 158-46500-125 Medicare Contributions$0.00$0.89$1.48
E 158-46500-131 Health Insurance$0.00$0.00$0.00
E 158-46500-132 Dental Insurance$0.00$0.92$1.66
E 158-46500-133 Life Insurance$0.00$0.12$0.12
E 158-46500-134 Disabilty Insurance$0.00$1.19$1.19
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$74.61$123.58
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-101 Salaries$0.00$0.00$0.00
E 159-46500-121 PERA Contributions$0.00$0.00$0.00
E 159-46500-122 FICA Contributions$0.00$0.00$0.00
E 159-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 159-46500-125 Medicare Contributions$0.00$0.00$0.00
E 159-46500-132 Dental Insurance$0.00$0.00$0.00
E 159-46500-133 Life Insurance$0.00$0.00$0.00
E 159-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 159-46500-300 Professional Services$0.00$46.00$46.00
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
2017June2017
Account DescrYTD Budget2017 AmtYTD Amt
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$795.00$46.00$46.00
FUND 220 Lodging Tax
E 220-46500-309 Visitors Bureau$0.00$0.00$0.00
FUND 220 Lodging Tax$0.00$0.00$0.00
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$0.00$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
$136,000.00$3,426.94$25,226.19
A
1,898.586,710.80
ED
53,339.5059,722.3110,000.0012,627.67
144,298.86
142,400.28
Plan
s
2016
2016
20,
6/30
4,
445.00
445.00445.00
July
Expenditure
Improvement
December
Capital
6/30through
Capital
Recommended:
(5,000.00)
(5,000.00)(5,000.00)
2017
Adopted
Fund
EDA
General
500.00
5,000.00
49,100.00
10,000.0023,600.0010,000.0048,600.00
1,398.586,710.80
43,339.5036,567.3112,627.6799,245.28
100,643.86
Availablethrough
12/31/2016
2017 - moved $5,000 budget to Great St. Cloud Partnership dues
CodeNumberEquipmentBalance201720172017Balance
ProjectProjectReserveBudgetGrants/AidsSpent2017
DepartmentAccount
EDA Agenda Item 4b
MEETING DATE: August 8, 2017
AGENDA ITEM: July Finance Reports
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
July 31, 2017. The ending undesignated balance shows a surplus of $3,259.26. The designated project
balance is $141,912.36. The 2017 budget includes $49,100 for EDA project funding. The designated
balance includes this amount; however, only the first half tax settlement has been received. Without
showing the 2017 capital expenditures, the undesignated balance would be a surplus of $52,359.
The other funds reported include the TIF funds, Lodging Tax, DEED CDAP Grant reimbursement 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 two outstanding revolving loans at the end of July. The
st
current revolving loan fund balance is $37,148 at July 31.
BUDGET/FISCAL IMPACT: For Information Only
ATTACHMENTS: Request for EDA Action – Finance Reports
EDA Financial Summary
EDA Check Register
EDA Revenue Report
EDA Expenditure Report
EDA Summary CIP
REQUESTED BOARD ACTION: Consider accepted of the July financial reports.
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
July 2017
Fund 150, EDA Balance as of December 31, 2016(Audited)133,380.66
Year to Date Revenue:
Interest Earnings306.62
TIF/MIF Deposit-
DEED Housing Grant Proceeds-
Ad Valorem Taxes42,045.94
Transfers from Other Funds-
Total Revenue42,352.56
Year to Date Expenditures by Object:
Board Stipends(210.00)
Staff Salaries/Training(21,154.46)
Workers Comp Premium-
Software Support/Office Supplies(1,217.12)
Professional Services-
Legal/Engineering Fees(2,386.50)
Telephone(428.52)
Greater St. Cloud Development Investment(5,000.00)
Business Round Table Outreach-
Marketing(165.00)
Advertising-
Coborn's Abatement-
CM Housing Grant Reimbursement-
EDA Programs-
Transfer to Other Funds-
Total Expenses(30,561.60)
Fund Summaries as of July 31, 2017:
EDA Fund Balance - Fund 150 - unaudited
145,171.62
Designated for Capital Programs 141,912.36
Undesignated 3,259.26
TIF 3-1 Central MN Credit Union Fund Balance - Fund 152 (5,346.17)
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153 2,129.50
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 15721,285.16
TIF 2-2 St. Joseph Meat Market Fund Balance - Fund 158(96.79)
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159(7,090.58)
Lodging Tax Fund Balance - Fund 22010,267.33
DEED CDAP Grant Fund Balance - Fund 22511,090.90
Revolving Loan Fund Balance - Fund 25037,147.75
** Detail available upon request
EDA Check Register
CHECK
#Search NameCommentsFUNDDEPARTAmount
052295CENTURYLINKT1 line/20 sets 229 #'s15046500$50.70
052296CENTURYLINK BUSINESS SERVICESlong distance telephone15046500$6.30
052325JOVANOVICH, KADLEC & ATHMANNindustrial park15046500$288.75
052333NORTHLAND SECURITIES, INCTIF reporting15946500$1,380.00
052333NORTHLAND SECURITIES, INCTIF reporting15746500$1,380.00
052333NORTHLAND SECURITIES, INCTIF reporting15246500$1,380.00
052336SENTRY BANK-CREDIT CARDspeaker15046500$19.99
052347BAYOU ALLEY FLATS, LLC1st half TIF settlement15946500$39.91
052354CENTRAL MN CREDIT UNION1st half TIF settlement15246500$19,165.33
052363KENSINGTON BANK1st half TIF settlement15746500$16,329.13
052368PFANNENSTEIN, HARVEY & CAROL1st half TIF settlement15846500$3,972.62
052372SEH, INCIndustrial Park15046500$2,053.25
$46,065.98
EDA Revenue Report
Current Period: July 2017
2017July2017
Account DescrSOURCYTD Budget2017 AmtYTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes31010$93,920.00$12,613.78$42,045.94
R 150-46500-33160 Federal Grants - Other33160$0.00$0.00$0.00
R 150-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 150-46500-36210 Interest Earnings36210$1,400.00$0.00$306.62
R 150-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 150 Economic Development$95,320.00$12,613.78$42,352.56
FUND 152 TIF 3-1 CMCU
R 152-46500-31050 Tax Increment31050$0.00$6,358.47$21,294.79
R 152-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 152-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 152 TIF 3-1 CMCU$0.00$6,358.47$21,294.79
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 153-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 153-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 153-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment31050$0.00$5,443.02$18,143.48
R 157-46500-36210 Interest Earnings36210$275.00$0.00$55.07
FUND 157 TIF 2-1 Millstream$275.00$5,443.02$18,198.55
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment31050$0.00$1,248.64$4,181.72
R 158-46500-36210 Interest Earnings36210$5.00$0.00$0.46
R 158-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 158 TIF 2-2 Meat Market$5.00$1,248.64$4,182.18
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment31050$0.00$13.27$44.36
R 159-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 159-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$0.00$13.27$44.36
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax31600$0.00$0.00$2,188.00
R 220-46500-36210 Interest Earnings36210$0.00$0.00$25.29
FUND 220 Lodging Tax$0.00$0.00$2,213.29
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement34200$0.00$0.00$11,077.71
R 225-46500-36210 Interest Earnings36210$0.00$0.00$13.19
FUND 225 DEED CDAP Grant$0.00$0.00$11,090.90
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings36210$250.00$0.00$99.78
R 250-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
R 250-46500-39320 Revolving Loan Principal39320$8,955.00$549.64$2,516.53
R 250-46500-39321 Revolving Loan Interest39321$1,295.00$88.91$669.81
EDA Revenue Report
Current Period: July 2017
2017July2017
Account DescrSOURCYTD Budget2017 AmtYTD Amt
R 250-46500-39322 Revolving Loan Origination Fee39322$0.00$0.00$0.00
FUND 250 Revolving Loan Fund$10,500.00$638.55$3,286.12
$106,100.00$26,315.73$102,662.75
EDA Expenditure Report
Current Period: July 2017
2017July2017
Account DescrYTD Budget2017 AmtYTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries$24,200.00$2,149.42$14,776.23
E 150-46500-103 Legislative Bodies$1,260.00$0.00$210.00
E 150-46500-121 PERA Contributions$1,815.00$161.22$1,108.25
E 150-46500-122 FICA Contributions$1,395.00$129.24$889.40
E 150-46500-123 Deferred Comp-Employer$0.00$0.00$0.47
E 150-46500-125 Medicare Contributions$325.00$30.22$208.00
E 150-46500-130 H S A- Employer Contribution$790.00$450.00$900.00
E 150-46500-131 Health Insurance$4,190.00$398.84$2,791.88
E 150-46500-132 Dental Insurance$460.00$39.34$316.14
E 150-46500-133 Life Insurance$25.00$2.53$17.77
E 150-46500-134 Disabilty Insurance$175.00$21.19$142.32
E 150-46500-151 Workers Comp. Insur. Prem.$165.00$0.00$0.00
E 150-46500-171 Clothing Allowance$60.00$0.00$0.00
E 150-46500-200 Office Supplies$500.00$19.99$210.61
E 150-46500-215 Software Support$575.00$0.00$1,006.51
E 150-46500-300 Professional Services$3,000.00$0.00$0.00
E 150-46500-303 Engineering Fee$2,000.00$2,053.25$2,097.75
E 150-46500-304 Legal Fees$1,000.00$288.75$288.75
E 150-46500-321 Telephone$675.00$57.00$428.52
E 150-46500-322 Postage$350.00$0.00$0.00
E 150-46500-328 Marketing$2,000.00$0.00$165.00
E 150-46500-331 Travel & Conference Expense$1,000.00$0.00$4.00
E 150-46500-340 Advertising$500.00$0.00$0.00
E 150-46500-433 Dues & Memberships$5,260.00$0.00$5,000.00
E 150-46500-582 Computer Software$0.00$0.00$0.00
E 150-46500-588 EDA Programs$43,600.00$0.00$0.00
E 150-46500-622 TIF/Abatement Payments$0.00$0.00$0.00
E 150-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 150 Economic Development$95,320.00$5,800.99$30,561.60
FUND 152 TIF 3-1 CMCU
E 152-46500-101 Salaries$0.00$0.00$0.00
E 152-46500-121 PERA Contributions$0.00$0.00$0.00
E 152-46500-122 FICA Contributions$0.00$0.00$0.00
E 152-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 152-46500-125 Medicare Contributions$0.00$0.00$0.00
E 152-46500-132 Dental Insurance$0.00$0.00$0.00
E 152-46500-133 Life Insurance$0.00$0.00$0.00
E 152-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 152-46500-300 Professional Services$0.00$1,380.00$1,630.00
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 152-46500-622 TIF/Abatement Payments$0.00$19,165.33$19,165.33
E 152-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 152 TIF 3-1 CMCU$795.00$20,545.33$20,795.33
FUND 153 TIF 4-1 Fortitude Senior Apts
E 153-46500-101 Salaries$0.00$0.00$0.00
E 153-46500-121 PERA Contributions$0.00$0.00$0.00
E 153-46500-122 FICA Contributions$0.00$0.00$0.00
EDA Expenditure Report
Current Period: July 2017
2017July2017
Account DescrYTD Budget2017 AmtYTD Amt
E 153-46500-125 Medicare Contributions$0.00$0.00$0.00
E 153-46500-300 Professional Services$0.00$0.00$0.00
E 153-46500-340 Advertising$0.00$0.00$0.00
E 153-46500-588 EDA Programs$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream
E 157-46500-101 Salaries$0.00$0.00$0.00
E 157-46500-121 PERA Contributions$0.00$0.00$0.00
E 157-46500-122 FICA Contributions$0.00$0.00$0.00
E 157-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 157-46500-125 Medicare Contributions$0.00$0.00$0.00
E 157-46500-132 Dental Insurance$0.00$0.00$0.00
E 157-46500-133 Life Insurance$0.00$0.00$0.00
E 157-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 157-46500-300 Professional Services$0.00$1,380.00$1,426.00
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$16,329.13$16,329.13
E 157-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream$34,545.00$17,709.13$17,755.13
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries$0.00$0.00$103.48
E 158-46500-121 PERA Contributions$0.00$0.00$7.76
E 158-46500-122 FICA Contributions$0.00$0.00$6.33
E 158-46500-123 Deferred Comp-Employer$0.00$0.00$1.56
E 158-46500-125 Medicare Contributions$0.00$0.00$1.48
E 158-46500-131 Health Insurance$0.00$0.00$0.00
E 158-46500-132 Dental Insurance$0.00$0.00$1.66
E 158-46500-133 Life Insurance$0.00$0.00$0.12
E 158-46500-134 Disabilty Insurance$0.00$0.00$1.19
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$3,972.62$3,972.62
FUND 158 TIF 2-2 Meat Market$4,545.00$3,972.62$4,096.20
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-101 Salaries$0.00$0.00$0.00
E 159-46500-121 PERA Contributions$0.00$0.00$0.00
E 159-46500-122 FICA Contributions$0.00$0.00$0.00
E 159-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 159-46500-125 Medicare Contributions$0.00$0.00$0.00
E 159-46500-132 Dental Insurance$0.00$0.00$0.00
E 159-46500-133 Life Insurance$0.00$0.00$0.00
E 159-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 159-46500-300 Professional Services$0.00$1,380.00$1,426.00
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$39.91$39.91
E 159-49300-720 Transfers to Other Funds$0.00$0.00$0.00
EDA Expenditure Report
Current Period: July 2017
2017July2017
Account DescrYTD Budget2017 AmtYTD Amt
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$795.00$1,419.91$1,465.91
FUND 220 Lodging Tax
E 220-46500-309 Visitors Bureau$0.00$0.00$0.00
FUND 220 Lodging Tax$0.00$0.00$0.00
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$0.00$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
$136,000.00$49,447.98$74,674.17
A
1,898.587,613.506,710.80
ED
53,339.5059,722.3112,627.67
141,912.36
140,013.78
Plan
s
2016
2016
20,
7/31
4,
445.00
2,831.50
July
2,386.502,831.50
Expenditure
Improvement
December
Capital
7/31through
Capital
Recommended:
(5,000.00)
(5,000.00)(5,000.00)
2017
Adopted
Fund
EDA
General
500.00
5,000.00
49,100.00
10,000.0023,600.0010,000.0048,600.00
1,398.586,710.80
43,339.5036,567.3112,627.6799,245.28
100,643.86
Availablethrough
12/31/2016
Computer SoftwareLet's Go DowntownBusiness Development/TIFParkway Business CenterBusiness Demolition ProgramBFA Grant/RLF Loan ProgramCSAH 2/3 Collection Street2017 - moved $5,000 budget
to Great St. Cloud Partnership dues
EDA-1401EDA-1402EDA-1407EDA-1407EDA-1408EDA-1403EDA-1405
CodeNumberEquipmentBalance201720172017Balance
P
ProjectProjectReserveBudgetGrants/AidsSpent2017
DepartmentAccount
EDA150-46500-582EDA150-46500-588 TOTAL EDA CI