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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 2013-14FY 2012-13
<br />Unaudited Beginning Fund Balance 9/30$2,768,155$2,768,155$2,196,935
<br />Plus Year to Date Revenues:
<br />1/2 Cent Sales Tax1,112,9081,293,4581,167,619
<br />Interest Income3,3363,6193,598
<br />Total Revenues1,116,2441,297,0771,171,217
<br />Equals Total Resources3,884,3994,065,2323,368,152
<br />Less Year to Date Expenditures:
<br />Payroll44,99550,46436,609
<br />Supplies855905794
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)249,407266,196124,470
<br />Debt Service Transfer632,363711,409307,546
<br />*
<br />Capital Projects Transfers151,333157,75093,750
<br />**
<br />Total Expenditures1,078,9531,186,724563,169
<br />Estimated Year to Date Fund Balance as of 6/30/2014$2,805,446$2,878,508$2,804,983
<br />Commitments
<br />Project Nebula$1,000,000
<br />Intergulf 45,000
<br />Rob Johnson Interests 40,000
<br />Richard Industrial Group 15,000
<br />Debt Service Reserve 948,545
<br />$2,048,545
<br />Adjusted Year to Date Fund Balance$829,963
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$829,963
<br />Plus: Estimated Sales Tax 695,980
<br />Less: Estimated Operational Costs(8,023)
<br />Less: Debt Service Transfers(237,136)
<br />Less: Capital Projects Transfers(19,250)
<br />Projected Year End Fund Balance$1,261,534
<br />Sales tax revenues for Fiscal Year 2015 are estimated to be $2,208,630. (2.5% growth over current year)
<br />Previously Funded Projects (Funding in Fund 015 - General CIP Fund)
<br />BudgetExpendituresBalance
<br />District 23 Street Paving175,000-175,000
<br />Façade Grants300,00081,570218,430
<br /> Total475,00081,570393,430
<br />*Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields.
<br /> **Capital Project Transfer is for 1/2 of the Golf Course/Little Cedar Bayou Park Irrigation Sytstem.
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