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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 Tax363,022569,498497,536
<br />Interest Income1,6762,0072,034
<br />Total Revenues364,698571,505499,570
<br />Equals Total Resources3,132,8533,339,6602,696,505
<br />Less Year to Date Expenditures:
<br />Payroll21,30226,70414,164
<br />Supplies6941198
<br />Services & Charges (Memberships, Training, Advertising, Legal, Utilities)30,25478,95030,194
<br />Debt Service Transfer316,182395,227170,859
<br />*
<br />Capital Projects Transfers25,66732,08352,083
<br />**
<br />Total Expenditures393,474533,375267,398
<br />Estimated Year to Date Fund Balance as of 2/28/2014$2,739,379$2,806,285$2,429,107
<br />Commitments
<br />Project Nebula$1,000,000
<br />Intergulf125,000
<br />Rob Johnson Interests106,000
<br />Richard Industrial Group15,000
<br />Debt Service Reserve948,545
<br />$2,194,545
<br />Adjusted Year to Date Fund Balance$611,740
<br />Projection Through Year End
<br />Adjusted Year to Date Fund Balance$611,740
<br />Plus: Estimated Sales Tax1,419,940
<br />Less: Estimated Operational Costs(219,523)
<br />Less: Debt Service Transfers(553,318)
<br />Less: Capital Projects Transfers(144,917)
<br />Projected Year End Fund Balance$1,113,922
<br />Sales tax revenues for Fiscal Year 2015 are estimated to be $2,029,227. (2% 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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