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812 Urban Renewal Agency Debt Service
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<br /> FY05 FY05 FY05
<br /> Adopted SB1 Action Revised
<br />I.RESOURCES
<br />
<br /> BEGINNING WORKING CAPITAL 3,262,502 118,705 a 3,381,207
<br /> CHANGE TO WORKING CAPITAL
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<br /> REVENUE
<br /> Taxes 3,780,000 0 3,780,000
<br /> Miscellaneous 75,500 0 75,500
<br /> Total Revenue 3,855,500 0 3,855,500
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<br /> TOTAL RESOURCES 7,118,002 118,705 7,236,707
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<br />II. REQUIREMENTS
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<br /> Department Operating
<br /> Planning and Development 0 0 0
<br /> Total Department Operating 0 0 0
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<br /> Capital Projects
<br /> Capital Projects 0 645,000 b 645,000
<br /> Cap. Carryover (Budget only) 0 0 0
<br /> Total Capital Projects 0 645,000 645,000
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<br /> Non-Departmental
<br /> I nterfu nd Transfers 271,964 0 271,964
<br /> Intergovernmental Expend. 2,345,000 2,345,000
<br /> Reserve 4,501,038 (2,001,038) b 2,500,000
<br /> Balance Available 0 1,474,743 a,b 1,474,743
<br /> Total Non-Departmental 7,118,002 (526,295) 6,591,707
<br />
<br /> TOTAL REQUIREMENTS 7,118,002 118,705 7,236,707
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<br />812 Urban Renewal Agency Debt Service
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<br />a) This supplemental request increases the budgeted Beginning Working Capital by $118,705
<br />and increases Balance Available by the same amount. The increase brings the FY05 Budgeted
<br />Beginning Working Capital in compliance with the audited FY04 actual revenues and
<br />expenditures as determined by Grove, Mueller & Swank P.C., the City's external auditor.
<br />
<br />b) This transaction increases capital projects for the expected costs of the Sears Demolition
<br />($645,000) and reduces the Debt Service Reserve by the same amount. An additional
<br />$1,356,038 is removed from the Debt Service Reserve and moved to Balance Available to
<br />reflect the amended Downtown Urban Renewal Plan that allows tax increment funds to be spent
<br />on a wide range of downtown projects.
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