HomeMy WebLinkAbout[04b] March Financial Report
EDA Agenda Item 4 (b)
MEETING DATE: April 16, 2019
AGENDA ITEM: March 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 March 31, 2019. The ending
undesignated balance shows a deficit of $33,464. The designated project balance is $78,099. The
capital designated balance includes 2019 capital budget balance of $44,100. The budget is covered by
property taxes that will not be received until July/December. The undesignated fund balance is a
surplus of $10,636 without showing the 2019 capital budget.
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. There are currently no revolving loans outstanding. The current,
st
revolving loan fund balance is $214,078 at March 31, including $136,714 reserved balance from the
EDA fund to be used for future economic development.
Finally, please complete the attached expense report for your first quarter EDA meetings (non-council
only).
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 acceptance of the March financial reports.
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
March 2019
Fund 150, EDA Balance as of December 31, 2018(Unaudited)
60,891.05
Year to Date Revenue:
Interest Earnings277.62
TIF/MIF Deposit-
DEED Housing Grant Proceeds-
Ad Valorem Taxes-
Transfers from Other Funds-
Total Revenue277.62
Year to Date Expenditures by Object:
Board Stipends-
Staff Salaries/Training(10,053.75)
Workers Comp Premium-
Software Support/Office Supplies(1,323.37)
Professional Services-
Legal/Engineering Fees-
Telephone(157.12)
Greater St. Cloud Development Investment(5,000.00)
Business Round Table Outreach-
Marketing-
Advertising-
CM Housing Grant Reimbursement-
EDA Programs-
Transfer to Other Funds-
Total Expenses(16,534.24)
Fund Summaries as of March 31, 2019:
EDA Fund Balance - Fund 150 - unaudited
44,634.43
Designated for Capital Programs 78,098.58
Undesignated(33,464.15)
TIF 3-1 Central MN Credit Union Fund Balance - Fund 152
(294.61)
TIF 4-1 Fortitude Senior Apts Fund Balance - Fund 153
4,566.80
TIF 2-1 Millstream Shops and Lofts Fund Balance - Fund 157
25,993.71
TIF 2-2 St. Joseph Meat Market Fund Balance - Fund 158
1.27
TIF 2-3 Bayou Blues & Alley Flats Fund Balance - Fund 159
(8,519.17)
Lodging Tax Fund Balance - Fund 220
32,637.84
DEED CDAP Grant Fund Balance - Fund 225
35,338.86
Revolving Loan Fund Balance - Fund 250
214,078.10
Designated for Revolving Loan Program 77,364.44
Designated for Economic Development136,713.66
EDA Check Register
CHECK
#Search NameCommentsFUNDDEPARTAmount
054358CENTURYLINKFeb T1 line/20 sets 229 #'s15046500$52.40
054359CENTURYLINK BUSINESS SERVICES2018 long distance15046500$16.42
054394JOVANOVICH, KADLEC & ATHMANNindustrial park15046500$1,364.38
054399OPG-3, INC.LF annual support15046500$698.87
054415OSBERG, GARY4th quarter 2018 EDA mtgs15046500$35.00
054432SEH, INCIndustrial Park15046500$14,570.00
054432SEH, INCIndustrial Park survey15046500$5,986.20
054432SEH, INCIndustrial Park15046500$1,152.56
054450CENTURYLINKT1 line/20 sets 229 #'s15046500$52.35
054452CIVICPLUSannual support:mobile app,hos15046500$543.65
054491JOVANOVICH, KADLEC & ATHMANNindustrial park15046500$441.00
054529SEH, INCmove ind. Park exp to fund 4015046500-$63,225.04
054529SEH, INCIndustrial Park Design15046500$33,140.00
054529SEH, INCIndustrial Park survey15046500$318.00
-$4,854.21
EDA Revenue Report
Current Period: March 2019
2019March2019
Account DescrSOURCYTD Budget2019 AmtYTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes31010$111,240.00$0.00$0.00
R 150-46500-33160 Federal Grants - Other33160$178,625.00$0.00$0.00
R 150-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 150-46500-34160 Tax Abatement Reimbursement34160$0.00$0.00$0.00
R 150-46500-36210 Interest Earnings36210$850.00$104.18$277.62
R 150-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 150 Economic Development$290,715.00$104.18$277.62
FUND 152 TIF 3-1 CMCU
R 152-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 152-46500-36210 Interest Earnings36210$0.00$0.62$6.74
R 152-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 152 TIF 3-1 CMCU$0.00$0.62$6.74
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$12.83$27.37
R 153-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$12.83$27.37
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 157-46500-36210 Interest Earnings36210$0.00$77.74$226.99
FUND 157 TIF 2-1 Millstream$0.00$77.74$226.99
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 158-46500-36210 Interest Earnings36210$0.00$1.50$3.98
R 158-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 158 TIF 2-2 Meat Market$0.00$1.50$3.98
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 159-46500-36210 Interest Earnings36210$0.00$2.59$2.46
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$2.59$2.46
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax31600$14,000.00$888.29$1,288.37
R 220-46500-36210 Interest Earnings36210$100.00$93.58$297.95
FUND 220 Lodging Tax$14,100.00$981.87$1,586.32
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement34200$0.00$0.00$0.00
R 225-46500-36210 Interest Earnings36210$25.00$105.79$330.13
R 225-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$25.00$105.79$330.13
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings36210$100.00$640.61$1,943.70
R 250-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
EDA Revenue Report
Current Period: March 2019
2019March2019
Account DescrSOURCYTD Budget2019 AmtYTD Amt
R 250-46500-39320 Loan Principal39320$995.00$0.00$0.00
R 250-46500-39321 Loan Interest39321$5.00$0.00$0.00
R 250-46500-39322 Loan Origination Fee39322$0.00$0.00$0.00
FUND 250 Revolving Loan Fund$1,100.00$640.61$1,943.70
$305,940.00$1,927.73$4,405.31
EDA Expenditure Report
Current Period: March 2019
2019March2019
Account DescrYTD Budget2019 AmtYTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries$28,325.00$2,359.86$6,959.00
E 150-46500-103 Legislative Bodies$1,260.00$0.00$0.00
E 150-46500-121 PERA Contributions$2,125.00$177.00$521.95
E 150-46500-122 FICA Contributions$1,710.00$140.74$417.81
E 150-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 150-46500-125 Medicare Contributions$400.00$32.92$97.73
E 150-46500-130 H S A- Employer Contribution$790.00$0.00$450.00
E 150-46500-131 Health Insurance$5,040.00$470.58$1,411.74
E 150-46500-132 Dental Insurance$415.00$38.54$115.62
E 150-46500-133 Life Insurance$25.00$5.06$10.12
E 150-46500-134 Disabilty Insurance$240.00$23.26$69.78
E 150-46500-151 Workers Comp. Insur. Prem.$155.00$0.00$0.00
E 150-46500-200 Office Supplies$500.00$0.00$80.85
E 150-46500-215 Software Support$935.00$543.65$1,242.52
E 150-46500-300 Professional Services$0.00$0.00$0.00
E 150-46500-303 Engineering Fee$2,000.00-$29,767.04$0.00
E 150-46500-304 Legal Fees$1,000.00-$1,364.38$0.00
E 150-46500-308 Community Programs$178,625.00$0.00$0.00
E 150-46500-321 Telephone$475.00$52.35$157.12
E 150-46500-322 Postage$100.00$0.00$0.00
E 150-46500-328 Marketing$1,000.00$0.00$0.00
E 150-46500-331 Travel & Conference Expense$500.00$0.00$0.00
E 150-46500-340 Advertising$200.00$0.00$0.00
E 150-46500-433 Dues & Memberships$5,295.00$0.00$5,000.00
E 150-46500-582 Computer Software$500.00$0.00$0.00
E 150-46500-588 EDA Programs$44,100.00$0.00$0.00
E 150-46500-622 TIF/Abatement Payments$15,000.00$0.00$0.00
E 150-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 150 Economic Development$290,715.00-$27,287.46$16,534.24
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$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 152-46500-622 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$0.00
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
EDA Expenditure Report
Current Period: March 2019
2019March2019
Account DescrYTD Budget2019 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
E 153-46500-622 TIF/Abatement Payments$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$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$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$0.00$0.00
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 Health Insurance$0.00$0.00$0.00
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 159-46500-101 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$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
EDA Expenditure Report
Current Period: March 2019
2019March2019
Account DescrYTD Budget2019 AmtYTD Amt
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 220 Lodging Tax
E 220-46500-300 Professional Services$0.00$0.00$0.00
E 220-46500-309 Visitors Bureau$14,100.00$0.00$0.00
FUND 220 Lodging Tax$14,100.00$0.00$0.00
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services$12,500.00$0.00$0.00
E 225-46500-340 Advertising$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$12,500.00$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
$357,995.00-$27,287.46$16,534.24
2,898.58
75,200.00
214,812.24
136,713.66211,913.66
'3/31
'3/31through
500.00
44,600.00
EDA
44,100.0044,100.00
Plan
2018
2018
17,
17,
July
2,398.58
31,100.00
170,212.24
136,713.66167,813.66
Expenditures
Availablethrough
Improvement
12/31/2018
December
Capital
Capital
Recommended:
Adopted
2019
Fund
EDA
General
Computer SoftwareBusiness DevelopmentBusiness Development
EDA-1401EDA-1402EDA-1402
CodeNumberEquipmentBalance201920192019Balance
ProjectProjectReserveBudgetGrants/AidsSpent2019
DepartmentAccount
EDA150-46500-582EDA150-46500-588RLF250-46500-588 TOTAL EDA CIP
St Joseph Economic Development Authority
Expense Report
NamePay Period:
DateEventLocationMtg # Reimbursement
Total
CERTIFICATION:IDECLARETHATTHISTIMESHEETISATRUEANDCORRECTSTATEMENT
OFMEETINGSWORKEDANDTHATNOPARTOFITHASBEENPAID.
SignedDate