Agenda - City of Dallas

Exhibit A
City Center TIF District
FY 2011 Annual Report
Appendix A - District Financials
City of Dallas, Texas
City Center Tax Increment Financing District Fund
Balance Sheet as of September 30, 2011 (Unaudited)
With Comparative Totals for September 30, 2010, 2009, 2008, and 2007
2011 2010 2009 2008 2007
Assets:
Pooled cash and cash equivalents $2,068,809 $1,644,682 $1,359,759 $4,168,724 $17,680,528
Interest receivable $6,258 $8,675 $8,120 $26,296 $125,250
Accounts receivable-Parking $7,764 $6,635 $5,847 $6,905 $0
Taxes receivable-delinquent $0 $0 $0 $0 $22,687
Less: allownace for uncollectible accounts $0 $0 $0 $0 ($7,941)
Total assets $2,082,831 $1,659,992 $1,373,726 $4,201,926 $17,820,524
Liabilities and Fund Balance (Deficit):
Liabilities:
Accounts payable $0 $0 $0 $195,532 $275,270
Advances from developers $8,095,577 $9,952,215 $11,722,522 $13,750,000 $25,913,362
Deferred tax revenue $0 $0 $0 $0 $14,746
Accrued liability ($3,565) ($3,565) $10,613 $10,612 $1,742,048
Total liabilities $8,092,011 $9,948,650 $11,733,135 $13,956,144 $27,945,426
Fund Balance (Deficit):
Fund Balance (Deficit) ($6,009,181) ($8,288,658) ($10,359,409) ($9,754,218) ($10,124,902)
Total Liabilities and Fund Equity $2,082,831 $1,659,992 $1,373,726 $4,201,925 $17,820,524
($0) ($0) ($0) ($0) $0
City Center Tax Increment Financing District Fund
Statement of Revenues, Expenditures and Changes in Fund Balance (Deficit)
For the Year 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 $73,013,524 $2,363,860 $2,475,667 $4,023,480 $3,895,625 $2,610,190
Tax increment-Intergovernmental $2,864,646 $428,634 $463,915 $666,236 $816,275 $489,587
Interest income $10,064,488 $14,651 $25,411 $93,239 $391,661 $886,730
Parking Revenue $723,681 $90,590 $75,754 $81,644 $138,421 $118,107
Net increase in fair value of investments ($278,630) $1,795 ($8,558) ($182,651) ($19,004) $154,241
Total revenue $86,387,709 $2,899,530 $3,032,190 $4,681,949 $5,222,977 $4,258,855
Expenditures:
Administrative expenses $2,064,011 $54,864 $74,683 $36,534 $119,202 $112,924
Non-capital outlay $68,812,334 $142,330 $288,432 $2,891,465 $2,727,309 $7,888,387
Capital outlay $9,786,548 $0 $0 $0 $531,605 $781,739
Interest and fiscal charges $7,233,598 $422,858 $598,324 $2,359,140 $1,418,966 $541,023
Total expenditures $87,896,492 $620,052 $961,439 $5,287,139 $4,797,083 $9,324,073
Excess (Deficiency) of Revenues over Expenditures ($1,508,783) $2,279,477 $2,070,751 ($605,190) $425,895 ($5,065,219)
Other financing sources (uses):
Developer Participation $5,416,002 $0 $0 $0 ($55,211) $318,531
Transfer out ($10,000,000) $0 $0 $0 $0 $0
Total other financing sources ($4,583,998) $0 $0 $0 ($55,211) $318,531
Excess (deficiency) of revenues and other
financing sources over (under)
expenditures and other uses ($6,092,781) $2,279,477 $2,070,751 ($605,190) $370,684 ($4,746,688)
Fund balance (Deficit) at beginning of year
as previously reported $0 ($8,288,658) ($10,359,409) ($9,754,218) ($10,124,902) ($5,378,214)
Prior period restatement $83,600 $0 $0 $0 $0 $0
Fund balance (Deficit) at beginning of year,
as restated $83,600 ($8,288,658) ($10,359,409) ($9,754,218) ($10,124,902) ($5,378,214)
Fund balance (deficit) at end of year ($6,009,181) ($6,009,181) ($8,288,658) ($10,359,409) ($9,754,218) ($10,124,902)
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
will be provided with the updated financial statements.
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