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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$3,458,203$3,458,203$3,213,390
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax---
<br />Transfers-In---
<br />Interest Income-391363
<br />Total Revenues-391363
<br />Equals Total Resources3,458,2033,458,5943,213,753
<br />Less Year to Date Expenditures:
<br />Payroll-6,7307,060
<br />Supplies-1151
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)-1,0336,903
<br />Capital Outlay---
<br />*
<br />Debt Service Transfer-56,72290,318
<br />Total Expenditures-64,600104,282
<br />Estimated Year to Date Fund Balance as of 9/30/2016$3,458,203$3,393,994$3,109,471
<br />Commitments
<br />Pipeline Grill$300,000
<br />Richard Industrial Group10,000
<br />ACT Independent Turbo Service, Inc.426,000
<br />Debt Service Reserve680,668
<br />$1,416,668
<br />Adjusted Year to Date Fund Balance$1,977,326
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$1,977,326
<br />Plus: Estimated Sales Tax2,434,375
<br />Less: Estimated Operational Costs(350,928)
<br />Less: Debt Service Transfers(623,946)
<br />Projected Year End Fund Balance$3,436,827
<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 /> Total407,669131,697275,972
<br />*Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields.
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