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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 Tax601,3241,341,8701,468,799
<br />Transfers-In--175,000
<br />Interest Income5,01612,7666,012
<br />Total Revenues606,3401,354,6361,649,811
<br />Equals Total Resources5,150,7575,899,0534,863,201
<br />Less Year to Date Expenditures:
<br />Payroll38,85575,39272,773
<br />Supplies9421,1981,110
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)74,080108,234108,103
<br />Incentive Grants100,000105,00088,000
<br />*
<br />Debt Service Transfer283,612510,501812,863
<br />Total Expenditures497,489800,3251,082,849
<br />Estimated Year to Date Fund Balance as of 6/30/2016$4,653,268$5,098,728$3,780,352
<br />Commitments
<br />Pipeline Grill$200,000
<br />Fischer's Hardware120,000
<br />Richard Industrial Group10,000
<br />ACT Independent Turbo Service, Inc.436,000
<br />Debt Service Reserve1,083,817
<br />$1,849,817
<br />Adjusted Year to Date Fund Balance$3,248,911
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$3,248,911
<br />Plus: Estimated Sales Tax1,008,130
<br />Less: Estimated Operational Costs(173,982)
<br />Less: Debt Service Transfers(170,167)
<br />Projected Year End Fund Balance$3,912,892
<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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