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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 Tax1,695,4331,854,7332,097,221
<br />Transfers-In--175,000
<br />Interest Income17,88420,9267,734
<br />Total Revenues1,713,3171,875,6592,279,955
<br />Equals Total Resources6,257,7346,420,0765,493,345
<br />Less Year to Date Expenditures:
<br />Payroll78,74580,549103,544
<br />Supplies1,2431,3941,550
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)119,827147,360163,079
<br />Incentive Grants180,000180,00088,000
<br />*
<br />Debt Service Transfer623,946680,6681,083,817
<br />Total Expenditures1,003,7611,089,9711,439,990
<br />Estimated Year to Date Fund Balance as of 9/30/2016$5,253,973$5,330,105$4,053,355
<br />Commitments
<br />Pipeline Grill$200,000
<br />Fischer's Hardware120,000
<br />Richard Industrial Group10,000
<br />ACT Independent Turbo Service, Inc.361,000
<br />Debt Service Reserve1,083,817
<br />$1,774,817
<br />Adjusted Year to Date Fund Balance$3,555,288
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$3,555,288
<br />Plus: Estimated Sales Tax495,267
<br />Less: Estimated Operational Costs361,973
<br />Less: Debt Service Transfers-
<br />Projected Year End Fund Balance$4,412,528
<br />Sales tax revenues for Fiscal Year 2016 are estimated to be $2,350,000.
<br />Previously Funded Projects (Funding in Fund 015 - General CIP Fund)
<br />BudgetExpendituresBalance
<br />Façade Grants407,669149,788257,881
<br />Commitment - Lawarance W. Maher Jr. Family Trust17,04617,046
<br />Available Balance407,669166,834240,835
<br />*Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields.
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