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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 2014-15FY 2013-14
<br />Unaudited Beginning Fund Balance 9/30$ 3,322,635$ 3,322,635$ 2,768,155
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax 217,072 649,604 569,498
<br />Interest Income 1,380 1,958 2,007
<br />Total Revenues 218,452 651,562 571,505
<br />Equals Total Resources 3,541,087 3,974,197 3,339,660
<br />Less Year to Date Expenditures:
<br />Payroll 22,739 38,226 26,704
<br />Supplies 110 441 411
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities) 117,326 127,013 78,950
<br />Capital Outlay - - 32,083
<br />*
<br />Debt Service Transfer 270,954 451,590 395,227
<br />Total Expenditures 411,129 617,271 533,376
<br />Estimated Year to Date Fund Balance as of 2/28/2015$ 3,129,958$ 3,356,926$ 2,806,284
<br />Commitments
<br />Project Nebula/Ineos**$ 700,000
<br />Richard Industrial Group 10,000
<br />ACT Independent Turbo Service, Inc. 426,000
<br />Debt Service Reserve 1,083,817
<br />$ 2,219,817
<br />Adjusted Year to Date Fund Balance$ 1,137,109
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$ 1,137,109
<br />Plus: Estimated Sales Tax 1,559,026
<br />Plus: Transfer from CIP for District 23 Street Paving (recinded by 4B) 175,000
<br />Less: Estimated Operational Costs (269,113)
<br />Less: Debt Service Transfers (632,227)
<br />Projected Year End Fund Balance$ 1,969,795
<br />Sales tax revenues for Fiscal Year 2015 are estimated to be $2,208,630. (2.5% growth over FY2014)
<br />Previously Funded Projects (Funding in Fund 015 - General CIP Fund)
<br />BudgetExpendituresBalance
<br />Façade 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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