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This is an Unaudited Statement.
<br />City of La Porte
<br />La Porte Development Corporation (038) Fund Summary
<br />(Section 4B Sales Tax)
<br />Previous
<br />ReportFY 2016-17FY 2015-16
<br />Unaudited Beginning Fund Balance 9/30$ 5,494,9005,494,900$ 4,544,417$
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax -- -
<br />Interest Income3,771 6,118 1,733
<br />Total Revenues3,771 6,118 1,733
<br />Equals Total Resources 5,501,0185,498,671 4,546,150
<br />Less Year to Date Expenditures:
<br />Payroll 3,2051,473 14,659
<br />Supplies 3636 392
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)1,117 1,929 4,190
<br />Incentive Grants185,000 185,000 -
<br />Debt Service Transfer57,104* 114,208 113,445
<br />Capital Projects Transfers111,683 223,367 -
<br />**
<br />Total Expenditures356,413 527,745 132,686
<br />Estimated Year to Date Fund Balance as of 11/30/2016$ 4,973,2735,142,258$ 4,413,464$
<br />Commitments
<br />Pipeline Grill$200,000
<br />Fischer's Hardware 120,000
<br />Richard Industrial Group 10,000
<br />ACT Independent Turbo Service, Inc.166,000
<br />Debt Service Reserve 1,083,817
<br />$1,579,817
<br />Adjusted Year to Date Fund Balance$3,393,456
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$3,393,456
<br />Plus: Estimated Sales Tax 2,212,500
<br />Less: Estimated Operational Costs(415,564)
<br />Less: Debt Service Transfers(571,039)
<br />Less: Capital Projects Transfers(1,116,833)
<br />Projected Year End Fund Balance$3,502,520
<br />Sales tax revenues for Fiscal Year 2017 are estimated to be $2,212,500.
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