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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)
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<br /> Previous
<br /> Report FY 2014-15 FY 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 /> 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 2/28/201 S $ 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
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<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 CI for District 23 Street Paving(recinded by 4B)1 175,000)
<br /> Less:Estimated Operational Costs (269,113)
<br /> Less:Debt Service Transfers (632,227)
<br /> Projected Year End Fund Balance $ 1,969,795
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<br /> Sales tax revenues for Fiscal Year 2015 are estimated to be$2,208,630. (2.5%growth over FY2014)
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<br /> Previously Funded Projects(Funding in Fund 015-General CIP Fund)
<br /> Budget Expenditures Balance
<br /> Fagade 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 Ballfrelds.
<br /> **EDC Coordinator awaiting termination letter.
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