HomeMy WebLinkAboutHEDRA 11-12-09 3rd Qt UpdateMEMO
T0: EDA Board
FROM: Charlene A. Stark, Finance Director
RE: 3rd Qtr Update
DATE: November 3, 2009
I have put together a brief report on the activity to date for the HRA and EDA program
activities through September 30, 2009.
Included is the following:
• Balance Sheet
• Revenue and Expenditure Summary
• Program breakdown of expenses
If there is any other information you would like to see orfor more details on this report,
please feel free to call me at 651-480-2354.
Action:
Informational only.
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Balance Sheet for
City of Hastings Economic Redevelopment Redevelopment Authority
EDA
HRA (Industrial Park) Total
Fund Fund All Funds
9/30/2009 9/3012009 9/30/2009
Assets
Cash 951,724.96 79,710.23 1,031,435.19
Dedicated Cash-Revolving Loans 21,108.31 - 21,108.31
Taxes receivable - (57.94) (57.94)
Accounts receivable 3,798.17 - 3,798.17
Interest receivable - - -
Deposit Receivable - 100,000.00 100,000.00
TOTAL ASSETS 976,631.44 179,652.29 1,156,283.73
Liabilities
Accounts payable 35.51 19.42 54.93
Deferred revenue - (57.94) (57.94)
Due to other funds - - -
TOTAL LIABILITIES 35.51 (38.52) (3.01)
Beginning Fund Balance 995,639.44 204,691.93 1,200,331.37
Net Income (Loss) (19,043.51) (25,001.12) (44,044.63)
Ending Fund Balance 976,595.93 179,690.81 1,156,286.74
FUND BALANCE PLUS LIABILITIES 976,631.44 179,652.29 1,156,283.73
Financial Statement for
City of Hastings Econcomic Development Redevelopment Authority
EDA
HRA Industrial Park Total
Fund Fund All Funds
9!30!2009 9130/2009 9/30/2009
Taxes 130,742.00 16,766.73 147,508.73
LGA/Market Value Credit/Grant - - -
Interest 6,815.00 703.00 7,518.00
Rentallncome - 1,353.00
Loan Interest (6,066.90) - (6,066.90)
Other Unclassified 16,851.34 - 16,851.34
Total Revenues 148,341.44 18,822.73 165,811.17
Personnel Expenses 70,676.10 37,419.13
Supplies 538.50 - 538.50
Other Services & Charges 61,275.85 1,219.72 62,495.57
Miscellaneous 2,384.50
Capital - - -
Transfers Out 32,510.00 5,185.00 37,695.00
Total expenses 167,384.95 43,823.85 100,729.07
Revenues over Expenditures $ (19,043.51) $ (25,001.12) $ 65,082.10
HRA
Programs
Personnel Expenses
Supplies
Other Services for Charges
Miscellaneous
Capital
Transfer Out
Total
EDA
(Industrial Park)
Programs
Personnel Expenses
Supplies
Other Services for Charges
Miscellaneous
Capital
Transfer Out
Total
6205 6206
6003 6004 6005 6008 Commercial Residential
Administration Rehabilitation Redevelopment Loans Loans TOTAL
70,676.10
538.50
5,267.50 128.56
435.83
32,510.00
109,427.93 128.56
208.00 55,671.79
208.00 55,671.79
70,676.10
538.50
61,275.85
1,948.67 2,384.50
32,510.00
0.00 1,948.67 167,384.95
Business
Administration Development
37,419.13
1,219.72
5.185.00
43,823.85 0.00