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BALANCE SHEET FISCAL YEAR ENDED 09-30-1992
1 f' CITY OF CLEARWATER COMMUNITY REDEVELOPMENT AGENCY FISCAL YEAR ENDED SEPTEMBER 30, 1992 :21"v7?-CI (~2) \'"" y; -- ClEARWATER COMMUNITY REDEVELOPMENT AGENCY Balance Sheet September 30, 1992 1 f File: CRA_STMT 5/3/93 Debt Parking Debt Service Fund Fixed Assets Fund General ------- Long-Term Debt Fund TOTAL General Fund Service Fund ------------ ----------- ----------- ----------- ----------- ----------- ASSETS: Equity in Pooled Cash and Investments 14,652 1 ,181 ,120 140,116 1,335,888 Accrued Revenues 4,210 4,210 Inventory of Real Property Held for Sale: Former CETA Property (1180 Cleveland st.) Former Bilgore Property (Lots 1-10, Blk. 5, ~~agnolia Park) 450,000 450,000 691,852 691,852 Fixed Assets: PUblic Parking Garage (Pierce St. Adjacent to Police Station) Land (Lots 1,2,3,12,13, & 14, 8lk. 6, Magnolia Park), Site of Above Parking Garage Kravis Property 1,241,057 1,241,057 249,877 357,058 249,877 357,058 ----..----- 18,862 1 ,181,120 140,116 2,989,844 o 4,329,942 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- LIABILITIES AND FUND BALANCE: L iabi lities: Accounts and Contracts Payable 10,902 10,902 Accrued Interest Payable (Revenue 8onds) o Long-Term Debt: CRA Tax Increment and Lease Revenue Bonds, Series 1986 CRA Tax Increment Revenue Bonds, Series 1987 1,630,000 700,000 1,630,000 700,000 ---------- ---------- ---------- ---------- ---------- ---------- 10,902 0 0 0 2,330,000 2,340,902 ---------- ---------- ---------- ---------- ---------- ---------- Fund Balance: Reserved for: Encumbrances Debt Service 0 1,181,120 140,116 1,321,236 2,989,844 (2,330,000) 659,844 7,960 7,960 ---------- ---------- ---------- ---------- ----------- -------;.-- 7,960 1 , 181 , 1 20 140,116 2,989,844 (2,330;000) 1,989,040 ---------- ---------- ---------- ---------- ----------- ---------- 18,862 1 ,181 ,120 140,116 2,989,844 0 4,329,942 ---------- ---------- ---------- ---------- ----------- ---------- ---------- ---------- ---------- ---------- ----------- ---------- Net Invested in Fixed Assets Unreserved CLEARWATER COMMUNITY REDEVELOPMENT AGENCY File: CRA_STMT statement of Revenues and Expenditures 05/03/93 For Indicated Fiscal Years Fiscal Year Ended SEPTEMBER 30 ---------------------------------------------------------------------------------------------------------- 19B3 19B4 19B5 1986 1987 1988 1989 1990 1991 1992 TOTAL ---------- ---------- ---------- ---------- ---------- ---------- ---------- --------- --------- --------- ---------- Revenues and Other Financing Sources: Tax Increment Revenues: Pinellas County 23,977 26,476 46,412 120,556 238,144 337,510 356,694 370,918 369,675 279,634 2,172,398 City of Clearwater and DD6 25,473 26,657 53,691 176,725 244,724 332,751 359,623 354,962 366,574 268,926 2,212,306 i,__. Other Revenues: Earnings on Investments 170 4,796 19,513 254 14,067 45,039 79,764 83,157 92,833 134,742 474 ,357 Rental Income 9,844 18,550 20,550 19,663 14,436 32,869 41,801 157,915 Sale of Real Estate 790,000 10,000 25,000 153 ,730 1,926,710 2,905,440 Other Income 201 11 5 25 242 Proceeds of Indebtedness 2,200,643 1,161,659 3.362,302 ---------- ---------- ---------- ---------- ---------- ---------- ---------- --------- --------- --------- ---------- Total Revenues 49,621 60.133 911,616 2,506,022 1,687,164 735,861 841,149 977,205 662,151 2,651,638 11,284,960 ---------- ---------- ---------- ---------- ---------- ---------- ---------- --------- --------- --------- ---------- Expenditures: Economic Environment 4,773 6,031 7,555 4,500 429 12,561 22,766 36,147 163,744 85,604 344,110 Capital outlay 1,083,362 691,852 450,00.0 229,276 2,283,768 4.738,260 Oebt Service: Interest 9,800 43,936 49,796 103,532 Bond Issue Expenses 14,669 11,109 25,778 Transfers Out: For Funding Capital Projects 3,857 1,184,033 92,357 139,072 366,790 107,642 456,661 527,869 (661,261 ) 2,017 ,020 -'For Debt Service ReqUirements Fund 214 98,343 526,572 294,740 398,303 326,248 81,295 988,174 2,713,675 Fund 218 53,100 595,528 648,628 Fund 435 140,116 140,116 Reimburse General Fund - Adm expense 15,690 10,972 21,000 65,000 101,225 96,610 96,260 406.757 Parkin9 Fund - Rent of 50 spaces in Garden Ave Garage 13,124 21,000 21,000 21,000 21,000 21,.0.00 21,000 139,124 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---~~----- ---------- ---------- Total Expenditures and Transfers Out 4,773 9,888 2,28.4,750 1,167,687 1,304,682 1,166,091 843,989 - 941,281 890,518 2,663,341 11,277 ,000 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Excess of Revenues a Other Financing SotJrces over Expenditures and Transfers Out 45,048 50,245 (1,373,134) 1,340,335 362,482 (430,230) (2,840) 35,924 (28,367) (11,503) 7,960 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- CLEARWATER COMMUNITY REDEVELOPMENT AGENCY DEBT SERVICE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For Ind;cated Fiscal Years Fiscal Year Ended SEPTEMBER 30 -------------------------------------------------------------------------------------- 1986 1987 1988 1989 1990 1991 1992 TOTAL ---------- ---------- ---------- ---------- --------- --------- --------- --------- Revenues - Earnings on Investments 0 11,B70 32,838 38,250 46,062 49,000 30,821 208,841 ---------- --------- ---------- ---------- --------- --------- --------- --------- Expend;tures - Debt Service Requirements Principal 5,000 90,000 95,000 105,000 105,000 115,000 515,000 Interest and Fiscal Charges 12,770 139,312 221,645 223,358 216,933 209,858 202,520 1,226,396 ---------- ---------- ---------- ---------- --------- --------- --------- --------- "- Total Expenditures 12,770 144,312 311,645 318,358 321,933 314,858 317,520 1,741,396 ---------- ---------- ---------- ---------- --------- --------- --------- --------- (Deficiency) of Revenues Over Expenditures (12,770) (132,442) (278,807) (280,108) (275,871) (265,858) (286,699) (1,532,555) ---------- ---------- ---------- ---------- --------- --------- --------- --------- other Financing Sources: Operating Transfers IN 98,343 526,572 294,740 398,303 326,248 81,295 988,174 2,713,675 Excess of Revenues and Other Sources Over Expendi tures 85,573 394,130 15.933 118.195 50,377 (184,563) 701,475 1,181,120 Fund Balance, Beginning of Year 85,573 479,703 495,636 613,831 664,208 479,645 0 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Fund Balance, End of Year 85,573 479,703 495,636 613,831 864,208 479,645 1,181,120 1,181,120 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- - C~~UNITY REDEVELOPMENT AGENCY Detail Schedule of Capital Outlay and Improvements For Years Indicated Improvement ,Description Renovate and beautify downtown parks including parking area west of City Hall. Bayfront Tennis Complex and Coachman Park Acquisition of property for JK Financial Project Funding construction of Park Street Parking Garage Fundin9 construction of Park Street Parkin9 Garage - per ,13'AJE 263 Acquisition of Bi190re property Landscapin9 Park Street Parkin9 Garage Downtown redevelopment plan revision-reimburse for labor costs Coachman Park Improvements Cleveland 5t Beautification ~ of Coachman Park Bandshell Acquisition of CETA buildin5 property Downtown Sidewalks Downtown Streetscape Downtown Electrical Improvements Acquisition of MAS1 project property Development of Downtown Minipark (MAS1 Contract) Acquisition project - negotiations ongoing at Yr End Mid Yr Tsf to 4782 - Cash for anticipated land purChase Downtown 5treetscape - Additional Contract Change Acquisition project - negotiations continue Purchase of Maas 8rothers property Purchase of Kravis property Totals Capital Outlay: Fundin9 Transfers: Totals - File: CRA_O 05/03/93 14:03 ------------------------------------------------- Fiscal Years -------------------------------------------- 1984 1985 1986 1987 1988 1989 1990 1591 1992 Total Project ----------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- ------------ ------------- 3,857.20 4,282.86 1.849.00 5,989.06 3255 1,083.362,49 1.083,362.49 Fd 188 9BO.000.00 B40.00 980.840.00 2522 199.750.00 60.467,00 280,217 .00 2022 691 .B51. 74 691,851.74 Fd 186 23.375.12 23,375.12 2627 5.825.00 5.825.00 9120 100,010.94 100,010.94 2295 27.000.00 27.000.00 3310 12.060.63 12,060.63 9114 450.000,00 450,000.00 Fd 188 17 ,646.82 17,646.82 2327 341.643.75 8,503.50 (7,592,00) 342.555.25 2326 7.500.00 7.500.00 9607 229.278.00 229,278.00 Fd 185 107.642,00 192.358,00 (70,000.00) 230.000,00 3240 255,800.00 (255.800,00) 0.00 4782 70,000.00 (70,000.00) 0.00 4782 24.976.00 (24.976.00) 0.00 2328 502.893,00 (502.893,00) 0.00 47B2 1.926.710.00 1.926,710.00 Fd 186 357,058.00 357.058.00 Fd 186 ...---------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- ------------ ------------- 3.857.20 2,267,395.35 784.207.86 139.071. 57 816,790.57 336.920,00 456.661. 50 527,869.00 1.422,507.00 6.755,280.05 ----------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- ------------ ------------.. 1,083,362 891,B52 450.000 229,27B 0 0 2.283.768 4.73B,260 3.857 1.184,033 52.357 139,072 366.790 107,642 456.661 527.869 (861.261) 2.017.020 ----------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- ------------ ------------- 3.857 2,267,395 784.209 139.072 816,790 336.520 456.661 527,869 1,422.507 6,755,280 ----------- ------------- ----------- ----------- ----------- ----------- ----------- ----------- ------------ ------------- Year End Capital Project Cash Balances -.- 3240 Downtown Mini-Park 239 .-..-..,... ,~ I CLEARWATER COMMUNITY REDEVELOPMENT AGENCY Reconciliation of Outstanding Debt September 30, 1992 Proceeds of lndebtedness: 1986 CRA Bonds - Parking Garage 19B6 Bilgore Loan 1987 CRA Bonds - Bilgore Property Less: Principal Paid From Fund 214 From Fund 218 Remaining Debt 1986 CRA Bonds - Parking Garage 1987 CRA 80nds - Bilgore Property I File: CRA_STMT Underwriter's Gross Discount Net ----------- ----------- ----------- 1,660,000 (49,357) 1,610,643 590,000 590,000 1,1B5,000 (23,341) 1,161,659 ----------- ----------- ----------- 3,435,000 (72,69B) 3,362,302 ----------- ----------- ----------- ----------- (515,000) (590,000) : 2,330,000 ----------- ----------- 1,630,000 700,000 7.2 - 8.5% Callable 10/01/94 @ 102 7.5 - 8.3% Callable 9/01/94 @ 102 2,330,000 ----------- -----------