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<br />Attachment 2
<br />Revenues and Expenditures by Scenario for Both RDA General and Housing Budget
<br />
<br />7C
<br />Page 10
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<br />Scenario 3: Agency General Fund SERAF Take + Borrow Maximum Hsg Tax Increment in FY 2009110 and FY 2010/11
<br /> Fiscal Year -. --- ------
<br /> --~-_._' '
<br />Item 2009/10 (1) 2010/11 (1) 2011/12 2012113 2013/14
<br /> $2.345,918 $4,123,651
<br /> $0 $0 $0 $0
<br /> $500,000 $500.000 $500,000 $500,000 $500,000
<br /> $2,856,735 $2,329,530 $1,786,808 $2,845,918 $4,623,651
<br />TAX INCREMENT AND OTHER REVENUE
<br />Gross Tax Increment $7,978,420 $8,168,619 $8.937,070 $10,970,214 $11,458.635
<br />County Waiver Afler Legal Aid Obligation Paid $0 $0 $0 $0 $0
<br />Interest $35.813 $0 $0 $0 $0
<br />Borrow 09110 Housing Tax In AS 26 4x $2,530.036 $0 $0 $0 $0
<br />Borrow 10111 Housing Tax In AS 26 4x $0 $732,764 $0 $0 $0
<br />Other Revenue --~---_._-"._- - $6,000 $6,000 $0 $0 ._~Q
<br />Tolal Tax Increment and Other Revenue $10,550.269 $8,907,383 $8,937,070 $10.970,214 $11.458,635
<br />Total Revenue $13,401 004 $11 236 913 $10123,878 $13 816,132 $16 082 286
<br />~~wL""
<br />FIXED OBLIGATIONS
<br />Debt Service (2) $1,793,540 $3,004,883 $1,850,975 $2.991,075 $3.280.481
<br />Other Obligations (3) $5,577,982 $3,303,222 $2,807,978 $2,902,541 $2.958,523
<br />Total Fixed Obligation $7,371,522 $6,308,105 $4,658,953 $5,893,616 $6,239,004
<br />Y. of Total Revenue 55% 56% 43% 43% 39%
<br />Total Available for Admin and Projects $6,035,482 $4,928,808 $6,064,925 $7,922,515 $9,843,282
<br />'k of Total Revenue 45% 44% 57% 5"'k 61%
<br />ADMINISTRATIVE COSTS
<br />Employee Services (4) $2,007,053 $2,081,284 $2,158,292 $2.238.148 $2.320.960
<br />Supplies & Services $403.939 $403.939 $403.939 $403,939 $403,939
<br />Intemal Services $208.115 $218,752 $218,752 $218,752 $218,752
<br />Furniture & Equipment $0 $0 _._~ $0 $0
<br /> ~- .-.- .- - -'~
<br />Tolal Administrative Costs $2,619.107 $2,703.975 $2.780,983 $2.860,839 $2,943,651
<br />% of Total Revenue 20% 24% 26% 21% 18%
<br />Remalnfng Balance for Programs, Projects, Reserves $3,416,375 $2,224,833 $3,283,943 $5,061.676 $6,899,631
<br />.~ of Total Revenue 25% 20% 31% 37% 43%
<br />PROGRAM OPERATING EXPENDITURES
<br />Downtown Development Programs $334,845 $336,025 $336.025 $336.025 $336,025
<br />Storefront Improvements $102.000 $102,000 $102,000 $102,000 $102,000
<br />Total Program Operating Costs $436,845 $438.025 $438,025 $438,025 $438,025
<br />PROJECTS
<br />Marina Area Planning Study $100,000 $0 $0 $0 $0
<br />DT Seasonal Banners & Decorations $50,000 $0 $0 $0 $0
<br />Hoover Mobility Project ~ ~ ~ iQ lQ
<br />Sublota! $850,000 $0 $0 $0 $0
<br />Operating Reserve $500,000 $500,000 $500,000 $500,000 $500,000
<br />REMAINING WORKING CAPJTAL BALANCE $1.829,530 S1.286,808 $2.345,918 $4.123,651 $5,96t,606
<br />% of Total Revenue 14% 11% 22% 30% 37%
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<br />
<br />(1) FY 2009/10 beginning fund balance as of June 30, 2009 with latest general ledger per Allison F and includes the $736,291 held in FY 07108 ERAF. FY
<br />2009/10 and 2010/11 gross tax increments and fixed obligations from Fraser and Associales; remaining figures from General FY 09/10 Budget prepared by
<br />Finance Dept.
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<br />(2) Includes 1997 and 2003 Bonds.
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<br />(3) Includes repayment from borrowing housing set-aside to pay SERAF, school district loan, repayment on City loan. etc.
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<br />(4) Assumes
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<br />3.7% annual increase.
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<br />Sources: Fraser and Associates; City of Redwood City Finance; Redevelopment Agency of Redwood City
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