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This is an Unaudited Statement.
<br />City of La Porte
<br />La Porte Development Corporation Fund Projections
<br />(Section 4B Sales Tax)
<br />FY 2014-15FY 2015-2016FY 2016-2017FY 2017-2018
<br />Estimated Beginning Funds$ 3,313,389$ 1,657,240$ 2,298,280 2,092,855
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax 2,208,630 2,252,803 2,297,859 2,343,816
<br />Interest Income 4,500 4,590 4,682 4,775
<br />Release of District 23 175,000
<br />Release of Project Nebula/Ineos 700,000
<br />Total Revenues 2,388,130 2,957,393 2,302,540 2,348,591
<br />Equals Total Resources 5,701,519 4,614,633 4,600,820 4,441,446
<br />Less Year to Date Expenditures:
<br />Payroll 100,367 103,378 106,479 109,674
<br />Supplies 3,000 3,075 3,152 3,231
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities) 331,427 339,713 348,205 356,911
<br />Capital Outlay - - -
<br />*
<br />Debt Service Transfer 1,083,817 680,668 698,519 1,026,610
<br />Total Expenditures 1,518,611 1,126,834 1,156,356 1,496,425
<br />Estimated Year to Funds Before Commitments$ 4,182,908$ 3,487,799$ 3,444,465$ 2,945,021
<br />Commitments
<br />Project Nebula/Ineos**$ 700,000
<br />Richard Industrial Group 10,000
<br />ACT Independent Turbo Service, Inc. 260,000 166,000 $ -
<br />Current Prospective Projects 875,000 325,000 $ 325,000 -
<br />Debt Service Reserve 680,668 698,519 $ 1,026,610 1,037,783
<br />$ 2,525,668$ 1,189,519$ 1,351,610$ 1,037,783
<br />Adjusted Year to Date Funds$ 1,657,240$ 2,298,280$ 2,092,855$ 1,907,238
<br />Previously Funded Projects (Funding in Fund 015 - General CIP Fund)
<br />BudgetExpendituresBalance
<br />Enhancement Grants 300,000 81,570 218,430
<br /> Total 300,000 81,570 218,430
<br />*Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields.
<br /> **EDC Coordinator awaiting termination letter.
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