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812 Urban Renewal Agency Downtown Debt Service Fund
<br />FY17FY17FY17
<br />doptedSB1 ActionRevised
<br />A
<br />I.RESOURCES
<br />BEGINNING WORKING CAPITAL
<br />993,60164,970
<br />1,058,571
<br />a
<br />CHANGE TO WORKING CAPITAL
<br />REVENUE
<br /> Taxes2,075,00002,075,000
<br /> Miscellaneous14,0001,690,8931,704,893
<br />b
<br />Total Revenue2,089,0001,690,8933,779,893
<br />TOTAL RESOURCES3,082,6011,755,8634,838,464
<br />II.REQUIREMENTS
<br />Non-Departmental
<br />Debt Service1,348,000298,0001,050,000
<br />()
<br />b
<br />Interfund Transfers179,0323,544,4623,723,494
<br />b
<br />Balance Available1,555,5691,490,59964,970
<br />()
<br />a,b
<br />Total Non-Departmental3,082,6011,755,8634,838,464
<br />TOTAL REQUIREMENTS3,082,6011,755,8634,838,464
<br />812 Urban Renewal Agency Downtown Debt Service Fund
<br />a) Increase the budgeted Beginning Working Capital
<br />by $64,970, and increase Balance Available by the same amount. This adjustment brings the FY17
<br />budgeted Beginning Working Capital in compliance with the audited FY16 actual revenues and
<br />expenditures as determined by Isler & Company, LLC, the City's external auditor.
<br />b) Recognize $1,690,893 in Miscellaneous revenue, decrease Debt
<br />Service for bond principal paid by $298,000, decrease Balance Available by $1,071,107 and
<br />increase Interfund Transfers by $3,060,000 to transfer funding to the URA Downtown General Fund
<br />for the creation of a Downtown High Speed Fiber Network and project management of the fiber
<br />project within the Downtown Urban Renewal District. Decrease Balance Available by $484,462 and
<br />increase Interfund Transfers by $484,462 to transfer funding to the URA Downtown General Fund
<br />for personnel costs and attorney fees to support project work ($284,462) and district administration
<br />and public engagement contract and old LCC building consultant ($200,000).
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