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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$ 5,494,900$ 5,494,900$ 4,544,417
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax 585,883 781,967 782,903
<br />Interest Income 13,370 15,633 6,620
<br />Total Revenues 599,253 797,600 789,523
<br />Equals Total Resources 6,094,153 6,292,500 5,333,940
<br />Less Year to Date Expenditures:
<br />Payroll 8,239 10,322 46,595
<br />Supplies 63 150 944
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities) 20,562 56,450 44,467
<br />Incentive Grants 351,000 351,000 135,500
<br />*
<br />Debt Service Transfer 285,520 342,624 340,334
<br />Capital Projects Transfers 558,417 670,100 -
<br />**
<br />Total Expenditures 1,223,801 1,430,646 567,840
<br />Estimated Year to Date Fund Balance as of 03/31/2017$ 4,870,352$ 4,861,854$ 4,766,100
<br />Commitments
<br />Pipeline Grill$ 200,000
<br />Fischer's Hardware 120,000
<br />Richard Industrial Group 10,000
<br />Debt Service Reserve 1,083,817
<br />$ 1,413,817
<br />Adjusted Year to Date Fund Balance$ 3,448,037
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$ 3,448,037
<br />Plus: Estimated Sales Tax 1,430,533
<br />Less: Estimated Operational Costs (187,812)
<br />Less: Debt Service Transfers (342,623)
<br />Less: Capital Projects Transfers (670,100)
<br />Projected Year End Fund Balance$ 3,678,035
<br />Sales tax revenues for Fiscal Year 2017 are estimated to be $2,212,500.
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