Agenda - City of Dallas

Oak Cliff Gateway TIF District
FY 2011 Annual Report
City of Dallas, Texas
Oak Cliff Area Gatew ay Tax Increment Financing District Fund
Balance Sheet as of September 30, 2011 (unaudited)
With Comparative Totals for September 30, 2010, 2009, 2008, and 2007
FY 2011 Financials
2011 2010 2009 2008 2007
Assets:
Pooled cash and cash equivalents $482,393 $3,907 $324,818 $329,574 $327,265
Interest receivable $1,585 $163 $1,765 $2,361 $4,848
Taxes receivable-delinquent $0 $0 $0 $0 $86,357
Less: allow nace for uncollectible accounts $0 $0 $0 $0 ($30,225)
Total assets $483,979 $4,071 $326,584 $331,935 $388,245
Liabilities and Fund Balance (Deficit):
Liabilities:
Accounts and contracts payable $0 $0 $0 $0 $0
Advances from developers $0 $1,062,864 $2,439,315 $3,259,465 $3,650,245
Deferred tax revenue $0 $0 $0 $0 $56,132
Accrued liability ($2,879) ($2,879) $122,524 $122,524 $122,524
Total liabilities ($2,879) $1,059,984 $2,561,839 $3,381,989 $3,828,901
Fund Balance (Deficit):
Fund Balance (Deficit) $486,858 ($1,055,914) ($2,235,255) ($3,050,054) ($3,440,656)
Total Liabilities and Fund Equity $483,979 $4,071 $326,584 $331,935 $388,245
$0 $0 $0 $0 $0
Oak Cliff Area Gatew ay Tax Increment Financing District Fund
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit)
For the Period Ended September 30, 2011 (Unaudited)
With Comparative Totals for September 30, 2010, 2009, 2008, and 2007
ITD 2011 2010 2009 2008 2007
Revenues:
Tax increment-Governmental $4,086,645 $516,230 $450,588 $418,060 $256,776 $182,387
Tax increment-Intergovernmental $3,605,641 $997,827 $903,398 $884,765 $515,795 $303,857
Interest income $392,743 $1,684 $4,738 $13,833 $16,317 $38,914
Grant from City/Developer contribution $309,480 $184,480 $0 $0 ($44,685) $44,685
Net increase(decrease) in fair value of investments $7,135 $1,374 ($2,917) ($5,122) ($1,538) $6,824
Total revenues $8,401,645 $1,701,596 $1,355,807 $1,311,535 $742,666 $576,666
Expenditures:
Administrative expenses $626,187 $52,465 $62,311 $26,886 $66,304 $52,010
Non-Capital outlay $3,987,839 $0 $0 $0 $0 $430,687
Capital outlay $1,924,803 $0 $0 $350,000 $0 $0
Interest and fiscal charges $1,376,146 $106,359 $114,155 $119,850 $285,759 $156,917
Total expenditures $7,914,975 $158,824 $176,466 $496,736 $352,064 $639,614
Excess (Deficiency) of Revenues over Expenditures $486,670 $1,542,772 $1,179,341 $814,799 $390,603 ($62,948)
Fund balance (Deficit) at beginning of year
as previously reported $0 ($1,055,914) ($2,235,255) ($3,050,054) ($3,440,656) ($3,377,708)
Prior period restatement $188 $0 $0 $0 $0 $0
Fund balance (Deficit) at beginning of year,
as restated $188 ($1,055,914) ($2,235,255) ($3,050,054) ($3,440,656) ($3,377,708)
Fund balance (deficit) at end of year $486,858 $486,858 ($1,055,914) ($2,235,255) ($3,050,054) ($3,440,656)
Note: Fiscal year 2010-11 unaudited financial statements are based on the 13th period close numbers and are subject
review by the City Controller's Office prior to approval by the City Council. In case of any material changes, TIF board
w ill be provided w ith the updated financial statements.
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