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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 Tax1,497,8291,892,5611,708,766
<br />Interest Income3,8315,5653,832
<br />Total Revenues1,501,6601,898,1261,712,598
<br />Equals Total Resources 4,269,8154,666,2813,909,533
<br />Less Year to Date Expenditures:
<br />Payroll55,93569,10753,726
<br />Supplies1,1151,5441,730
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)276,444599,318544,697
<br />Debt Service Transfer790,454948,545410,061
<br />*
<br />Capital Projects Transfers164,167177,000695,000
<br />**
<br />Total Expenditures1,288,1151,795,5141,705,214
<br />Estimated Year to Date Fund Balance as of 9/30/2014$2,981,700$2,870,767$2,204,319
<br />Commitments
<br />Project Nebula/Ineos$700,000
<br />Intergulf 45,000
<br />Rob Johnson Interests 40,000
<br />Richard Industrial Group 15,000
<br />Debt Service Reserve 948,545
<br />$1,748,545
<br />Adjusted Year to Date Fund Balance$1,122,222
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$1,122,222
<br />Plus: Estimated Sales Tax 262,200
<br />Less: Estimated Operational Costs 264,986
<br />Less: Debt Service Transfers-
<br />Less: Capital Projects Transfers-
<br />Projected Year End Fund Balance$1,649,408
<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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