Board of Directors Meeting

New York City Industrial Development Agency
(a component unit of the City of New York)
Combining Statements of Revenues, Expenses and Changes in Fund Net Assets
(unaud1ted)
Restricted
Queens Baseball Yankee Basebal! Total For the Seven Months Ended January 31,
Unrestricted Stadium Project Stadium Project Restricted 2013 2012
Operating revenues:
Finance fees $ 1,930,056 $ $ $ 1,930,056 $ 753,626
Finance fees- ESDC 100,000 100,000 9,907,977
Compliance fees 542,851 542,851 704,833
Application fees 75,000 75,000 120,000
Post closing fee 62,500 62,500 65,000
Recapture income 2,391,315 2,391,315 13,538
Other income I 1,833 11,833 16,885
Total operating revenues (Note 1) 5,113,555 5,113,555 11,581,859
Operating expenses:
Management fees 3,530,402 3,530,402 3,530,402
Consulting fees 6,745 6,745
Public hearing expenses 55.254 55,254 51,469
Marketing & Advertising 701 701 2,280
Contigency fee - EDC 1.359 1,359
Miscellaneous expenses 1,441 1,441 1.563
Total operating expenses (Note 2) 3,595,902 3,595,902 3,604,273
Operating income (loss) 1,517,653 1,517,653 7,977,586
;.)
Nonoperating revenues (expenses)
Interest income 65,115 •••••
65,115 100,528
Special project costs (Note 6) (1,772,191):':': (1,772,191) (667,763)
Special project costs- Hurricane Emergency Loan ProgJ:am (3,200,000} ;:::; p,200,000}
Total nonoperating revenues {expenses) {4,907,076} :/ (4,907,076) {567,235)
Nonoperating financing revenues (expenses) (Note 7)
PILOT lease income 19,854,129 39,787,318 59,641,447 :::::
59,641,447 64,764,872
PILOT investment income 3 1,688,941 1,688,944 ?: 1,688,944 1,429,926
Bonds interest expense (18.181,836) (39,490,117) (57,671,953)~:::: (57,671,953) (64,631,290)
Other bond amortizations and fees (1,672,296) (246,702) (I ,9\8,998) :::; (1,918,998) (1,958,809)
Gain (loss) on swap {1,739,440} {1.739,440){: {1,739,440) 395,301
Total nonoperating financing revenues (expenses)
Change in net assets (3,389,423) ·::;i (3,389,423) 7,4!0,351
Unrestricted net assets, beginning of year 57,273,572 57,273,572 50,638,060
Unrestricted net assets, end of period $ 53,884,149 $ $ $ $ 53,884.149 $ 58,048,4\ I
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