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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 2015-16FY 2014-15
<br />Unaudited Beginning Fund Balance 9/30$4,544,417$4,544,417$3,213,390
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax-358,355407,946
<br />Interest Income3913,6081,683
<br />Total Revenues391361,963409,629
<br />Equals Total Resources4,544,8084,906,3803,623,019
<br />Less Year to Date Expenditures:
<br />Payroll6,73031,11930,480
<br />Supplies115621160
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)1,03356,749123,339
<br />Incentive Grants-100,000-
<br />*
<br />Debt Service Transfer56,722226,889361,272
<br />Total Expenditures64,600415,378515,251
<br />Estimated Year to Date Fund Balance as of 1/31/2016$4,480,208$4,491,002$3,107,768
<br />Commitments
<br />Pipeline Grill$200,000
<br />Fischer's Hardware120,000
<br />Richard Industrial Group10,000
<br />ACT Independent Turbo Service, Inc.426,000
<br />Debt Service Reserve1,083,817
<br />$1,839,817
<br />Adjusted Year to Date Fund Balance$2,651,185
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$2,651,185
<br />Plus: Estimated Sales Tax2,076,020
<br />Less: Estimated Operational Costs(270,317)
<br />Less: Debt Service Transfers(453,779)
<br />Projected Year End Fund Balance$4,003,109
<br />Sales tax revenues for Fiscal Year 2016 are estimated to be $2,434,375.
<br />Previously Funded Projects (Funding in Fund 015 - General CIP Fund)
<br />BudgetExpendituresBalance
<br />Façade Grants407,669131,697275,972
<br />Commitment - 4 Ever Clear Pool lChemical Co., LLC19,19319,193
<br />Available Balance407,669150,890256,779
<br />*Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields.
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